i mean for the increasingly unpredictable us economy got a bad show today so let's go in for the increasingly unpredictable u.s. economy got a bad show today so let's go. a congressional grilling for a c.e.o. at the center of. a congressional grilling for a c.e.o. at the center of a deadly scandal leads our global report today as boeing chief executive dennis mulan brad dudley scandal leads our global report today as boeing chief executive dennis mulan bird goes before members of congress to face his 1st public interrogation regarding $2737.00 max crashes that killed a total of $346.00 people are goes before members of congress to face his 1st public interrogation regarding $2737.00 max crashes that killed a total of $346.00 people mulan bloomberg spoke about the efforts at the company and invested in improving living there are technologies in their point planes going forward. we've brought the best of boeing to this effort we spent over one more

word. we've brought the best of boeing to this effort we spent over 100000 engineering and test hours we've flown more than 800 test flights 100000 engineering and test hours we've flown more than 800 test flights we conducted simulator sessions with 545 participants from 99 customer we conducted simulator sessions with 545 participants from 99 customers and 411 global level regulators i flew alone. on a couple of flights myself this is taken longer than expected but we're committed flights myself. this is taken longer than expected but we're committed to getting it right. mr mulan berg's testimony on tuesday did to getting it right. mr mulan berg's testimony on tuesday to the united states senate commerce committee

also marked a grim anniversary of the 1st to the united states senate commerce committee also marked a grim anniversary of the 1st fatal 737 crash the faded lion air flight 610 indonesian fatal 737 crash the faded lion air flight 610 indonesian investigators recently released a final report on that 1st 737 crash site and investigators recently released a final report on that 1st 737 crash citing the controversial jumbo jet models flight control system and c.i.s. as a signal the controversial jumbo jet models flight control system and c.i.s. as a significant factor in the crash the growing record of the $737.00 max is trouble development factor in the crash the growing record of the $737.00 maxes trouble development leaves mr mulan berg an easy and inviting target for some tough questions on tuesday and the senate leaves mr mulan berg an easy and inviting target for some tough questions on tuesday in the senate and wednesday in the house

and for more on these congressional hearings are to correspond of it and wednesday in the house and for more on these congressional hearings are to correspond a fair inference i told this report from near the site of the hearings. on friends i told this report from near the site of the hearings. janet yellen works 1st appearance on capitol hill ever since those 2 fatal boeing 730 janet yellen works 1st appearance on capitol hill ever since those 2 fatal boeing 737 max crashes ironically it's also the one year anniversary of the lion area 7 max crashes ironically it's also the one year anniversary of the lion air jet crash that killed all $189.00 souls on board now military jet crash that killed. all $189.00 souls on board now entered the senate hearing room tuesday surrounded by families of the victims of those 2 crashes entered the senate hearing room tuesday surrounded by families of the victims of those 2 crashes families holding up large photos were

all raised directly behind mulan who appeared families holding up large photos were all raised directly behind mulan who appeared very focused and unemotional texas senator ted cruz the chairman of the commerce committee is a very focused and unemotional texas senator ted cruz the chairman of the commerce committees aviation subcommittee says the panel plans on asking how was the plane designed without safety mechanisms that happened not once but twice how was the regulatory system design ation subcommittee says the panel plans on asking how was the plane designed without safety mechanisms that happen not once but twice how was the regulatory system designed what were the incentives within the regulatory systems to sign off on these changes and why bob and what were the incentives within the regulatory systems to sign off on these changes and why were pilots not trained on this adding that's what prior 730 seven's had but not the pilots not trained on this adding that's what prior 730 seven's had but not the 737 max before

the 2 crashes boeing touted to major airlines around 737 max and before the 2 crashes boeing targets a major airlines around the world it was a fuel efficient plane and didn't require time consuming training chair in the world it was a fuel efficient plane and didn't require time consuming training chairman to mississippi senator roger wicker says his biggest question did boeing and the federal mississippi senator roger wicker says his biggest question did boeing and the federal aviation administration rushed to get the boeing 737 max before a certain early aviation administration rushed to get the boeing 737 max before certifications and safety measures were totally ready this after e-mails and the 10s of thousands in safety measures were. totally ready this after emails and the 10s of thousands of other documents house lawmakers ever reviewed in their probe drawing questions about boeing's kinds of other documents house lawmakers ever reviewed in their probe drawing questions about boeing's culture and its race to

get the $737.00 max out all the win over airlines whole sure and it's race to get the $737.00 max out all the win over airlines to top its chief rival france based air bus at these hearings come just one week to top its chief rival france based air bus at these hearings come just one week after boeing let go of one of their top executives who was the head of the commercial airlines division after boeing let go of one of their top executives who was the head of the commercial airlines division kevin mcallister this after the company says he handled the company's largest point of business which in cabin mcalister this after the company says he handled the company's largest point of business relationships with airlines relationships with airplanes and poor elderly face or face always doing a growing turn in the internal scrutiny about his about his handling of relations in particular alienating important customers following the 2736 handling of relations in particular alienating important customers following the 2737 max

crashes the 737 has been grounded since march and it cost the major airline $7.00 max crashes $737.00 has been grounded since march and it cost the major airline company $8000000000.00 commercial business relations are more than 60 company $8000000000.00 commercial business relations are more than 60 percent of boeing's total revenue last week c.e.o. dennis miller was demoted from his position percent of boeing's total revenue last week c.e.o. dennis miller was demoted from his position as chairman of the board but he does remain as one of the chief executives and that is one of the biggest question as chairman of the board but he does remain as one of the chief executives and that is one of the biggest questions today on capitol hill why is still a part of boeing questions today on capitol hill. why is mulan berg still a part of boeing texas senator ted cruz says that that's not a government decision that's a shareholders decision chairman with the texas senator ted cruz says that that's not a government decision that's a shareholders decision chairman wicker says that they're determined to work with

the families to get the answers and also bring those who are at fault here says that they're determined to work with the families to get them answers and also bring those who are at fault accountable for boom bust unfair in france act. fault accountable for boom bust unfair and fronsac are. phase one. phase one of a trade deal between the united states and china could soon be finalized but it may not be in time of a trade deal between the united states and china could soon be finalized but it may not be in time for a meeting between the president and she next month according to new reports are a meeting between the president and she next month according to new reports artie's radio blevins has the latest on the potential trade deal. for months of parties

rachel blevins has the latest on the potential trade deal. for months of trade talks leaders from the united states and china are set to meet on november 17th but there is trade talks leaders from the united states and china are set to meet on november 17th but there is no guarantee that the 1st phase of a trade deal will be ready to sign this according to a new is no guarantee that the 1st phase of a trade deal will be ready to sign this according to a new report which claims the u.s. and china are continuing to work on an interim trade agreement but a report which claims the u.s. and china are continuing to work on an interim trade agreement but it may not be completed in time for leaders to sign at the asia pacific economic cooperation may not be completed and. time for leaders assigned at the asia pacific economic cooperation summit in chel way but president trump told reporters on monday that he is optimistic aeration summit in chel way but president trump told reporters on monday that he is optimistic and that phase one of the trade deal is already in the

works we are looking in and that phase one of the trade deal is already in the works we are looking. probably to be ahead of schedule decided a very big portion of the probably to be ahead of schedule decided a very big portion of the china deal and we'll call it phase one but it's a very big bushy dyna deal and we'll call it phase one but it's a very big or shouldn't be that would take care of the farmers it would take care of some of the other things general also could do that would take care of the farmers who would take care of some of the other things will also take care of a lot of the bank in the now according to reports while trade talks continue the you make your lot of the bank in the now according to reports while trade talks continue the u.s. will consider extending some tariff exclusions on $34000000000.00 last will consider extending some tariff exclusions on $34000000000.00 in chinese imports

while the 1st part of a potential trade deal which temporarily person chinese imports while the 1st part of a potential trade deal works temporarily prevent an increase in tariffs current u.s. tariffs or 25 percent on 250 event an increase in tariffs current u.s. tariffs or 25 percent on $250000000000.00 worth of chinese imports and 15 percent on $1102000000000.00 worth of chinese imports and 15 percent on $110000000000.00 and goods will remain and the looming threat of tariffs on virtually already dollars and goods will remain and the looming threat of tariffs on virtually all remaining chinese imports which with specific target consumer goods could still go into effect meaning chinese imports would. specifically target consumer goods could still go into effect in december the agreement would include a promise from china that it will follow basic and december the agreement would include a promise from china that it will follow beijing's outdated ip and foreign investment

laws i made complaints from the us that china is outdated ip and foreign investment laws i made complaints from the us that china is guilty of intellectual as good home pretty of intellectual property that these one also believe is to be one could also lead to the us removing china's currency manipulator status the countries make a bilateral committee moving china's currency manipulator status as the countries make a bilateral commitment not to manipulate currency markets for economic advantage the deal could all this not to manipulate currency markets for economic advantage the deal could also include a much needed break for farmers china agrees to resume purchases and also include a much needed break for farmers china agrees to resume purchases of products like soybeans and port high levels that were seen before the trade war began products like soybeans and port high levels that were seen before the trade war began however the deal will not include

a removal of restrictions on chinese telecom giant however the deal will not include a removal of restrictions on chinese telecom giant wall way and a spokesperson for china's foreign ministry continue to accuse the west of that waterway and a spokesperson for china's foreign ministry continue to accuse the last of the economic bowling women can do if we resume oppose the un i cannot make bowling women to do if we resume oppose the us abusing the state power to suppress specific chinese enterprises with unless abusing the state power to suppress specific chinese enterprises with unwarranted charges in the absence of any evidence that economic bullying behavior into the charges in the absence of an. evidence of the economic bullying behavior of the us is a denial of the market economy principle the us has always of the us is a denial of the market economy principle the us has always advertised. is

adverts but. so doesn't include the deal also does not include a plan and profit in the trade war and reports no trade for the street is in. trouble ministration is eager to push the idea that the initial phase will be followed by others but the expectations that will happen are here that the initial phase will be followed by others but the expectations that will happen are low now it remains to be seen if it is a one of a trade deal will be ready by next month low now it remains to be seen if phase one of a trade deal will be ready by next month as the trade war between the world's 2 largest economies begins to have an impact on the global trade war between the world's 2 largest economies because to have an impact on the global economy reporting from outside the office of the united states trade representative in washington or ca to me reporting from outside the office of the united states trade representative in washington rachel blevins are. the highly anticipated trade rachel blevins are.

the highly anticipated trade talks between president xi and trump scheduled for chile next month has boosted optimism in the talks between president xi and trump scheduled for next month has boosted optimism in the markets that a phase one will be finalize that this will be the 3rd time the 2 markets at a phase one will be finalized that this will be the 3rd time the 2 leaders meet but in a last minute twist reuters reports that interim agreement may not meet but in a last minute twist reuters reports that it interim agreement may not be completed in time for signing in chief so how many times have you heard this story before be completed in time for signing in chief so how many times have you heard this. story before and shouldn't the market know better than to get their hopes up before a deal is when it comes to trying shouldn't the market know better than to get their hopes up before a deal is when it comes to u.s. stocks quickly turned negative following their report as investors closely watched

u.s. stocks quickly turned negative following their report as investors the closely watched trade talks were actually much further away from resolution than previously believed for analysis were actually much further away from resolution than previously believed for analysis on all things china and u.s. trade war we're now joined by sue our senior apac international says on all things china and u.s. trade war we're now joined by sue our senior apac international relations policy specialist with the institute for china american studies. it relations policy specialist with the institute for china american studies so if everything goes ahead as planned the summit between she and president trump in chile next month everything goes ahead as planned the summit between she and president trump in chile next month would be the 3rd time that the 2 leaders meet so what's different about this time and what would be the 3rd time that the 2 leaders meet so what's different about this time and what gives the market any reason to believe that something some trade deal could be gives the market any reason to believe that

something some trade deal could be hammered out at this trade meeting what's different. marred out at this trade meeting what's different. just punch closer to. real election campaign that is probably the most much closer to. real election campaign that is probably the most important so you can. there have been some warning indicate important so you can. there have been some warning indicators with regard to the u.s. economy is held and mr trump does not want to flare up in the details with regard to the u.s. economy is held and mr trump does not want. that flare up in a big way going into the election but the bottom line out here is much much of this early going into the election but the bottom line out here is meant much of this early harvest that we're talking about these could have been harvested most of them

in february itself harvest that we're talking about these could have been harvested most of them in february itself there was no reason to drag this out this long and have so many punitive measures there was no reason to drag this out this long and have so many punitive measures particularly from me on words if this could have been harvested right then and it's just particularly from me on words if this could have been harvested right then and it's just been a lost opportunity and we touched on earlier this week it's been a lost opportunity and we touched on earlier this week this scandalously undercover unknown regional initiative called this scandalously undercover unknown regional initiative called the r c e p the regional comprehensive economic partnership embracing 6 of the r c e p the regional comprehensive economic partnership embracing 16 nations accounting for a 3rd of one 3rd of global g.d.p.

and half the world's nations accounting for a 3rd of one 3rd of global g.d.p. and half the world's population there were some trouble earlier this week between india and malaysia population there were some trouble earlier this week between india and malaysia that threaten to derail it but could this us china trade war help keep the r c trying to derail it but could this us china trade war help keep the r c e p back on track i think that the u.s. china trade war has been a still back on track i think that the us china trade war has been a stimulus for getting our set done it's it's been in the works since 2012 millis for getting our set done it's it's been in the works and story. the 12 guys like india frankly have been running their 1st but it's coming close to a conclusion guys like india frankly have been running their 1st but it's coming close to a conclusion on november 4th there's an important leaders summit in bangkok the

high expert on november 4th there's an important leader of summit in bangkok the high expectations that the deal will be signed right then or if not it looks happen very sick patients that the deal will be fine right then or if not it looks happen very soon thereafter and i think an important point to come out of all this is soon thereafter and i think an important point to come out of all this is there are for countries are getting the agreement it's a very broad political agreement there are 4 countries are getting the agreement it's a very broad political agreement the un calendar didn't ask here the un japan had done their economic liberalization the un calendar didn't ask here the un japan had done their economic liberalization agreement and what we see is the us which once used to be the leader in this area in agreement and what we see is the us which once used to be the leader in this area has now been is the only party which is actually walking in the opposite direction frankly has not been is the only party

which is actually walking in the opposite direction frankly meanwhile rachel mentioned briefly that while away right now our way and the other chinese meanwhile are rachel's mention briefly that while away right now to far away and other chinese tech companies e.t.e. which were blacklisted by the u.s. is issues have not been addressed yet and talk of the city which were blacklisted by the u.s. is issues have not been addressed yet and today china blasted the u.s. calling them a car economic bully of our proposal walk today china blasted the us calling them a car economic bully of our proposal walking telecom carriers from buy our products it also now requires kerry to actually removing telecom carriers from buy our products it also now requires care. is to actually remove existing our way and c.t. equipment so this again tolly goes against the market prints existing our way and c.t. equipment so this again totally goes against the market principles on which the us have previously and always trumpeted sol now as likely to balls on which the us

have previously and always trumpeted sol now is likely to going to be at the center of trade talks going into face to face 3 how can there be any going to be at the center of trade talks going into face to face 3 how can there be any compromise when it comes to a black eye issues such as security your own who are very compromised when it comes to a black eye issues such as security your own who are issues is going to be a complicated issue in phase 2 fierce 3 especially with the improved issue is going to be a complicated issue in phase 2 fierce 3 especially with the improved with the detention of the leaders daughter in canada and that has has its with the detention of the leaders daughter in canada and that has has its own dynamic of the let me from manso in 2 parts of your country saw it alone dynamic of the let me for a man so in 2 parts of countries are at liberty to draw the national security perimeter in terms of their critical infrastructure including liberty to draw the

national security perimeter in terms of their critical infrastructure including in telecoms in countries of calm down a different points in this regard that having being seen in telecoms and countries of calm down at different points in this regard that having being said not just about here's the kind of the irony the double speak of the us has earned the u.s. talks in terms of china's 3rd not just about here's the kind of the irony the double speak of the u.s. has earned the u.s. talks in terms of china's state run austere driven economy going off to street ground or steered driven economy which is. and off the playing field with its industrial subsidies and cetera et cetera and that those subsidies need to be the playing field with its industrial subsidies and cetera et cetera and that those subsidies need to be removed but the fact of the matter is who our way is through

and through a private company removed but the fact of the matter is who our way is through and through a private company and all of china's dynamic ery artificially and all of china's dynamic ery artificial intelligence companies have recently also been sanctioned as part of the shinji and initial intelligence companies have recently also been sanctioned as part of the shin junk journ sanctions export controls and so the us talks about china's stitching journ sanctions export controls and so the us talks about china's state owned enterprises and state dominated economy and yet goes ahead and punish all enterprises and state dominated economy and yet goes ahead and punishes the most dynamic private players and to kneecaps them shows the most dynamic private players and to a kneecaps them and this itself is a large sure it tells

a larger story of what the u.s. has taught and this itself is a large sure it tells a larger story of what the u.s. is talking about and what its true intentions are out here and i hope that the market principle will be risking about and what its true intentions are out here and i hope that the market principle will be respected in greater detail frankly. that i fear that i was a pleasure having you here and specter didn't reveal frankly. that i fear that i was a pleasure having you here thank you. check in with the up and with the ups downs delta and on the other now at south of the energy part of the it will only be worked out with one of the doubt one of the big boss to report today or take a day carnegie. hall. reportedly the largest independent exploratory energy firm on earth gets the day is reportedly the largest independent exploratory energy firm on earth gets the day's good news with an expectations beating 3rd quarter earnings report earnings were 3 point good news with an expectations beating 3rd quarter

earnings report earnings were $3100000000.00 adding up to earnings per share of $2.74 conoco point $1000000000.00 adding up to earnings per share of $2.74 conoco posted that figure despite an 18 percent fall in oil prices and conoco calculation posted that figure despite an 18 percent fall in oil prices and conoco calculations global super major british petroleum posted a $41.00 persons global super major british petroleum posted a 41 percent year over year drop in net profit for q 3 b.p. also cited what they say are one year over year drop in net profit for q 3 b.p. also cited what they say are onetime asterisks on q 3 report as reasons to list underlying replacement in time asterisks on q 3 report as reasons to list underlying replacement cost profit of 2 bill point $3000000000.00 in place of the

usual profit of 2 bill point $3000000000.00 in place of the usual net profit that more conventional figure was even lower at a flat $2000000000.00 profit that more conventional figure was even lower at a flat $2000000000.00 and the largest remaining coal company in the united states is now down and out as murray energy and the largest remaining coal company in the united states is now down and out as murray energy files for bankruptcy protections the miner of climate killing coal publicly struggling files for bankruptcy protections the manner of climate killing coal publicly struggled to pay its bills earlier this month even after a restructuring forbearance agreement to pay its bills earlier this month even after a restructuring forbearance agreement. analysts say yes i mean demand for coal was a fundamental factor member's demise and it was so yes i mean demand for coal was a fundamental factor members demise. the world's most valuable company is ready to

go public after as. the world's most valuable company is ready to go public after a series of delays that put the i.p.o. in question saudi aramco will start to build a series of delays that put the i.p.o. in question saudi aramco will start to build the book on the 3rd of november according to a new report from reuters citing people familiar with the scituate book on the 3rd of november according to a new report from reuters citing people familiar with the situation shares will be priced at the beginning of the summer and trading will start on the top 2 ition shares will be priced at the beginning of the summer and trading will start on the top of all saudi aramco domestic stock exchange on the 11th of december so all saudi aramco domestic stock exchange on the 11th of december so oil giant which controversial a value that sells as 2 trillion dollars will float a one to 2 percent still a giant which controversial a value that sells as 2 trillion dollars will float a one to 2 percent stake on their local market making it one of the largest public offerings on the exchange worth roughly $28.00 on their local market making it one

of the largest public offerings on the exchange worth roughly $20000000000.00 aramco has been forced to change plans for the i.p.o. multiple times a $1000000000.00 aramco has been forced to change plans for the i.p.o. multiple times since and now it's a decision to go public in 2016 while the company has been getting to often say announce the decision to go public in 2016 while the company has been getting the offering off the ground they have also been roping in institutional investors sovereign wealth funds and wealthy right off the ground they have also been groping in institutional investors sovereign wealth funds and wealthy saudi families to become anchor investors going public as an opportunity for the kingdom to diversify the families to become anchor investors going public as an opportunity for the kingdom to divert. by their economy away from a soft focus on fossil fuels. time if either economy away from a soft focus on fossil fuels. time now for a quick break but stay tuned because just on the other side the u.s.

federal reserve is out for a quick break but stay tuned because just on the other side the u.s. federal reserve is looking to cut rates yet again in the next week but one could that mean in the bigger picture for the u.s. looking to cut rates yet again in the next week but one could that mean in the bigger picture for the u.s. economy and trump twitter target jerome powell peter schiff of euro pacific capital joins us economy and trump twitter target jerome powell peter schiff of euro pacific capital joins us show to help us make sense of the potential rate cut and as we go to break here are the market numbers show to help us make sense of the potential rate cut and as we go to break here are the market numbers at the close. at the close.

what hope to. put themselves on the line what hopes to. put themselves on the line to get accepted or rejected. so what you want to express to get accepted or rejected. so what you want to be prez. someone wanted us. to do i. wanted. to do i would be impressed as the wife of a 43 a boy can't be good. for us as the wife of a 43

a boy can't be good. i'm interested always in the waters about how. interested always in the water is about how. i sit. i sit. during the great depression which i'm old enough to remember there was and most of my family were during the great depression which i'm old enough to remember there was and most of my family were unemployed or. other wasn't it was bed you know much worse objectively unemployed working plus other wasn't it was bed you know much worse objectively than day but there was an expectation that things were going to get better. than today but there was an expectation that things were going to get better. of there was a real sense of hopefulness there isn't today today's image of there was

a real sense of hopefulness there isn't today today's america was shaped by the ton principles of concentration of wealth and power america was shaped by the turn principles of concentration of wealth and power. reduced democracy at tax. reduced democracy at tax a loadout engineer elections manufacture consent and out engineer elections manufacture consent and other principles according to no i'm chomsky one set of rules another principles according to no i'm chomsky one set of rules. the rich officer said. that's where the rich officer said. that's what happens when you put her into the hands of the narrow sector of what happens when you put her into the hands of

a narrow sector of wilf which rule is dedicated to increasing power for chills just as you'd expect will switch rule is dedicated to increasing power for chills just as you'd expect one of the most influential intellectuals of our time speaks of one of the most influential intellectuals of our time speaks about the modern civilization of america. about the modern civilization of america.

up on the. up and. up. shut. up. shut. up. shut. up. shut up. shut up.

welcome back checking in on the aftermath. welcome back checking in on the aftermath of the 40 day united auto workers strike at general motors plants in the united states g.m. of the 40 day united auto workers strike a general motors plants in the united states g.m. now says the labor action cost the carmaker $2900000000.00 in earnings in q 3 i'm now says the labor action cost the carmaker $2900000000.00 in earnings in q 3 to spite that daunting figure g.m. stock was resilience and jumping just short of to spite that daunting figure g.m. stock was resilience and jumping just short of 5 percent by midday on tuesday the bad news confirms a g.m. profit guidance from last week percent by midday on tuesday the bad news confirms a g.m. profit guidance from last week warn warning of more red ink than expected there are

also significant warning of more red ink than expected there are also significant downstream costs for g.m. suppliers that have yet to be tallied and most of those firms earnings report downstream costs for g.m. suppliers that have yet to be tallied and most of those firms as earnings reports one notable exception is detroit based lire corp or its one notable exception is detroit based lira corp leer c.e.o. ray scott told trade publication automotive news last friday that each layer c.e.o. ray scott told trade publication automotive news last friday that each week of the strike costlier between $70.00 and $75000000.00 now if we could strike costlier between $70.00 and $75000000.00 now. but a lot of little stock rose by more than 2 percent on the disclosure of the love letters stock rose by more than 2 percent on the disclosure. the s. and p. had a record high on tuesday extending monday's rally as investors with the s.

and p. hit a record high on tuesday extending monday's rally as investors looked ahead to a potential rate cut from the fed expectations of easier monetary policy hope to head to potential rate cuts from the fed expectations of easier monetary policy help to lift the market even as phase one of the u.s. china trade deal may not be finalized and she helped to lift the market even as phase one of the u.s. china trade deal may not be finalized and she lay thinking the market in too close fact that data show that 70 percent of the s. and p. 5 thinking the market and is close facts that data show that 70 percent of the s. and p. $500.00 companies that have reported so far have beat analyst expectations but could it be that the eye 100 companies that have reported so far have beat analyst expectations but could it be that the expectations were just set too low our current valuation is justified our business is just the expectations were just set too low our current valuation is justified our business is just being less bad and masters are now struggling to find new reasons to buy anything less fat and masters

are now struggling to find new reasons to buy and extend the new record rally in equities and analysts point out that the big risk is that we stand the new record rally in equities and analysts point out that the big risk is that we're seeing a boost to asset prices but no real uptick in the real economy we're seeing a boost to asset prices but no real uptick in the real economy so for more on this we're now joined by peter schiff c.e.o. of the euro pacific capital so so for more on this we're now joined by peter schiff c.e.o. of the euro pacific capital so peter phase one deal just hyped up this entire bull rally and this is peter phase one deal just hyped up this entire bull rally and this is the. interim deal that basically just kicks the trade can worries down the road and delays action just an interim deal that basically just kicks the trade can worry down the road and delays action the u.s. is actually hedging themselves right now as treasury secretary management is still

not the u.s. is actually hedging themselves right now as treasury secretary management is still not giving a definitive answer on whether or not the december 15th have will be taken off the table by giving a definitive answer on whether or not the december 15th have will be taken off the table so if phase one is this hard to nail down how bad will face to be so if phase one is this hard to nail down how bad will fade to be. so i don't know there's never going to be a phase 2 i think phase one. well no there's never going to be a phase 2 i think phase one is simply a way for trump to save face and to surrender in the trade it is simply a way for trump to save face and to surrender in the trade war but still claim victory. and peter a war but still claim victory. and peter was talking about the federal reserve cutting rates yet again where is talking about the federal

reserve cutting rates yet again even while the market is breaking out a new record highs we saw this record close yesterday on the s. and p. even while the market is breaking out a new record highs we saw this record close yesterday on the s. and p. $500.00 but this is the 3rd rate cut here we're talking about and you know we've been over $500.00 but this is the 3rd rate cut here we're talking about and you know we've been over this before and you pretty thoroughly demolished their arguments for it but what are they saying now with this before and you pretty thoroughly demolished their arguments for it but what are they saying now to justify this 3rd one stocks are hovering near a 15 month high now to justify this 3rd cut one stocks are hovering near a 15 month high. well we'll see how they walk that tightrope you know they're trying to protect. well we'll see how they walk that tightrope you know they're trying to pretend that these rate cuts are just some kind of mid-course correction

some and that these rate cuts are just some kind of mid-course correction some kind of insurance policy but if you remember a year ago at this time not only kind of insurance policy but if you remember a year ago at this time not only was the fed raising rates but they had forecast that they would continue to raise it was the fed raising rates but they had forecasts that they would continue to raise rates throughout 2019 i was the only one out there saying that they weren't going to do that rates throughout 2019 i was the only one out there saying that they weren't going to do that that they were going to be cutting rates not raising them but more than that it's not just that they're that they were going to be cutting rates not raising them but more than that it's not just that they're cutting rates they're back to quantitative easing they have called off quantitative tightening cutting rates they're back to quantitative easing they have called off quantitative tightening reverse course they're doing quantitative easing except they're not admitting reverse course

they're doing quantitative easing except they're not admitting that that's what they're doing because they're in barriers to have to acknowledge this but if you actually that's what they're doing because they're in barriers that have to acknowledge this but if you actually look at how rapidly the fed's balance sheet is growing now it's actually growing fully look at how rapidly the fed's balance sheet is growing now it's actually growing faster when they're not doing q.e. than were then when they were faster when they're not doing q.e. then weren't then when they were so right now as you mentioned the fed fantasy is basically exploding they're doing $60000000000.00 i'm not right now as you mentioned the fed fantasy is basically exploding they're doing $60000000000.00 a. month on q e they're injecting $130.00 daily everything on my own daily report month on q e they're injecting $130.00 daily everything on my own daily report why is this that injecting so much liquidity into the system when they so kind that why is this

fed injecting so much liquidity into the system when they so kind that nothing's wrong and right now we're expecting a very hard rate cut tomorrow. i think is wrong and right now we're expecting a very hard rate cut tomorrow. just ignore what they say and look at what they do look they are trying to just ignore what they say and look at what they do look they are trying desperately to keep the air from coming out of this wall but it's not desperately to keep the air from coming out of this wall but it's not going to work i mean the bubble has already popped the only question is how fast it's going to work i mean the bubble has already popped the only question is how fast is that air going to come out and when is the market going to figure out that that air going to come out and when is the market going to figure out that the game is over and understand what the fed has been doing and that the game is over and understand

what the fed has been doing and get understand the true nature of this bubble economy and what's going to happen if you get understand the true nature of this bubble economy and what's going to happen in the future and certainly are a lot of bubbles google actually just reported and while they teach or certainly are a lot of bubbles google actually just reported and while they be on revenues they missed on a p.s. so this is partially they say they claim due to lumpy on revenues they missed on a p.s. so this is partially they say they claim due to lower margin now that their margins have been shrinking for several quarters so is this concerning lower margin now that their margins have been shrinking for several quarters so is this concern. and given these diminishing returns is google still considered a high growth stock player now and given these diminishing returns is google still considered a high growth stock player now. all of these stocks google included are dreaming.

up all of these stocks google included are dramatically overvalued because of the fed because of the monetary patently overvalued because of the fed because of the monetary policy that we've pursued we have inflated asset prices like policy that we've pursued we have inflated asset prices like sachs and like real estate now there are a lot of companies that are worth anything there are a lot of stocks and like real estate now there are a lot of companies that are worth anything there are a lot of these companies that are losing money that have high market values because of the fed now goo these companies that are losing money that have high market values because of the fed now google at least makes a profit but in today's interest rate environment the present valuable at least makes a profit but in today's interest rate environment the present value of those profits has been inflated by the fed what the fed is trying to do is prevent

a few of those profits has been inflated by the fed what the fed is trying to do is prevent those asset prices from coming back down to earth but for a healthy economy those asset prices from coming back down to earth but for a healthy economic recovery that's what we need we can't continue to have over priced assets you know dominic recovery that's what we need we can't continue to have over priced assets you know dollars from put out a tweet today in which he is envious of the europeans and the japanese people shrug put out a tweet today in which he's envious of the europeans and the japanese because they have negative rays and he says this is great you know they get to borrow they get to because they have negative rates and he says this is great you know they get to borrow they get. to be paid to borrow why can't america to get paid to borrow what trump is over we paid to borrow why can't americans get paid to borrow what trump is overlooking is who is paying the bill who is stuck with the cost it's the savior

looking is who is paying the bill who is stuck with the cost it's the savers that should be getting paid by the borrowers who are borrowing money it's the senators that should be getting paid by the borrowers who are borrowing money it's the citizens who are going to end up losing because they're financing these loans but all sins who are going to end up losing because they're financing these loans but all of this is producing malinvestment it's helping to expand government at the explicit producing malinvestment it's helping to expand government at the expense of the real economy and peter just to play devil's advocate for a minute here pence of the real economy and peter just to play devil's advocate for a minute here looking at one indicator and u.s. economy consumer confidence it dipped in october looking at one indicator and u.s. economy consumer confidence it dipped in october and the latest survey and there's also good reason to believe that this phase one trade in the latest survey and

there's also good reason to believe that this phase one trade deal is a lot of hype and may very well still not happen so it is a lot of hype and may very well still not happen so is there an argument that the fed this 3rd rate cut is a prudent misner an argument that the fed this 3rd rate cut is a prudent measure to ensure against the loss of confidence in the event that this trade deal doesn't azure to insure against the loss of confidence in the event that this trade deal doesn't go through. the one thing the rate cut is not as prudent it's a go through and. the one thing the rate cut is not as prudent it's a debt. spurn attempt again to keep the air from coming out of the bubble to maintain false desperate attempt again to keep the air from coming out of the bubble to maintain false consumer confidence you know consumers are confident despite the fact that the economy is consumer confidence you know consumers are

confident despite the fact that the economy is a disaster they don't have any money they have a lousy job they have no savings there is a disaster they don't have any money they have a lousy job they have no savings they're loaded up with debt but as long as they can keep on borrowing money to buy stuff they can load it up with debt but as long as they can keep on borrowing money to buy stuff they can't afford with money they don't have for some reason they remain optimistic and you have off ward with money they don't have for some reason they remain optimistic and you have all of this hype coming out of wall street coming out of the media to try all of this you know hype coming out of wall street coming out of the media to try to encourage all 'd of this falls off the optimism the fed plays into that mean the fed will encourage all 'd of this falls off the optimism the fed plays into that i mean the fed keeps talking about how the economy is in a great plays even as they've got it on life support keeps talking about how the

economy is in a great plays even as they've got on life support so eventually the consumer is going to figure out just how bad the economy is unfortunately it's going to be too late for him to do anything about it and he's going to be blindsided but art so eventually the consumer is going to figure out just how bad the economy is unfortunately it's going to be too late for him to do anything about it and he's going to be blindsided but i think it's the investors who are in for an even more painful awakening. i think is the investors who are in for an even more painful awakening. peter schiff of euro pacific capital thanks so much for joining. us. peter schiff of euro pacific capital thanks so much for joe. our pleasure. shares aversion to let me know. our pleasure. shares of virgin galactic founded by sir richard branson begun trading on monday morning at

a total valuation lactic founded by sir richard branson begun trading on monday morning at a total valuation of $2300000000.00 after a merger with social capital had a sophia this of $2300000000.00 after a merger with social capital had a sophia this i.p.o. makes virgin galactic a ticker symbol as g c the 1st ever commercial i.p.o. makes virgin galactic a ticker symbol as g c the 1st ever commercial space by company to be listed on a public stock exchange the company so far has completed 2 space by company to be listed on a public stock exchange the company so far has completed 2 test flights using spaceship 2 vessels this i.p.o. raise much needed funds for a few test flights using space ship 2 vessels this i.p.o. raise much needed funds for a virgin galactic as they attempted to test out an uncharted market the company has yet to virgin galactic as they attempted to test out an uncharted market the company has yet to turn a profit and incurred a net losses of $86700000.00 in the 1st 6 turn

a profit and incurred net losses of $86700000.00 in the 1st 6 months of 2019 shares rose as high as 12 dollars 93 but closed down at month of 2019 shares rose as high as $12.93 both closed down at $1175.00 the space race is heating up as virgin galactic now companies with just that 1175 the space race is heating up as virgin galactic now competes with jeff bezos blue origin and even must face x. a report in march estimated that faces those blue origin and 11 must face x. a report in march estimated that space tourism has a potential market cap of $3000000000.00 a decade from now even though tourism has a potential market cap of $3000000000.00 a decade from now even though. currently it's still at its nascent phase. that by this time you can cut currently it's still at its nascent phase. that's it by this time you can catch a boom bust on direct t.v. channel 321 dish network to 84 streaming to boom bust on directv channel 321 dish

network to 84 streaming 247 on twitter t.v. the free t.v. at 79 or you can always go to song 7 on twitter t.v. the free t.v. ads to 79 or you can always go to so i want you to dot com slash. c next on. you tube dot com slash. c next on.

and there's that. and there's that. and. you're on. the on. the rational and. rational.

all across the middle east and beyond there are large scale protests and growing political instability all across the middle east and beyond there are large protests and growing political instability in many week on trees many countries the old old old ways of doing business just only indian rich preach privilege which alleviates the prospects for the many are few and far in between for the elites while the prospects for the many are few and far in between for the elites have answers to. days a week probably. answers to days a week probably. cooked additional supposed to note of what was and gets up to linger some of these it's just a cooked additional supposed to note of what was and gets up to linger some of

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africa. or from from. the from from. the headlines and representatives of the syrian government the opposition. the headlines and representatives of the syrian government the opposition and society meet in a bid to bring peace to their war torn country and society meet in a bid to bring peace to their own country. detained american journalist max blumenthal claims he was arrested on false. detained american journalist max blumenthal claims he was arrested on false charges of the soul for his reporting on venezuelan opposition violence we hear the charges of the soul for his reporting on

venezuelan opposition violence we hear from his lawyer. he was denied access. he was denied access for a phone call to contact an attorney or his family these charges are plainly false all to contact an attorney or his family these charges are plainly false and highly inflammatory in the u.k. is heading for a general election as parliament and highly inflammatory in the u.k. is heading for a general election as parliament approved this bill seeking at the center the 12th to break the breakthrough the prudes boris johnson's bill seeking at the center of the 12 to break the breakthrough.