china trains are man's body but the pope this is a great. u.s. kind of danger man's body but the pope this is great graham martin correspondent rachel clement that's true about this that he looks like an american and does that mean correspondent rachel clement that's true about this that he looked like an american that led us to break down the age of 30. 1 to break down the age of 30. plus another fed rate cut just be over the horizon in the united states peter schiff could another fed rate cut just be over the horizon in the united states peter schiff of euro pacific capital joins us today from puerto rico to want to say you know what the federal reserve of euro pacific capital joins us today from puerto rico to want to say you know what the federal reserve may soon have up its sleeve and what it means for the increasingly unpredictable u.s. economy may soon have up its sleeve and what it means for the increasingly unpredictable u.s. economy. let's go. it could.

go. a congressional grilling for a c.e.o. at the center of a deadly scandal leads our global report today 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 bird goes before members of congress to face his sport as boeing chief executive dennis mulan bird goes before members of congress to face his 1st public interrogation regarding 2737 max crashes that killed a totalist public interrogation regarding to $737.00 max crashes that killed a total of $346.00 people spoke about the efforts at the company invested in will $346.00 people spoke about the efforts that the company invested in improving their aerial technologies and their planes going forward. we've brought the best of proving their aerial technologies and airplanes going forward. we've brought the best. bowing to the sefer we spent over 100000 engineering in test hours we're

going to this effort we spent over 100000 engineering and test hours we've flown more than 800 test flights we conducted simulator sessions with 540 flown more than 800 test flights we conducted simulator sessions with 545 participants from 99 customers and 41 global regulators 5 participants from 99 customers and 41 global regulators i flown on a couple of flights myself this is taken a lot i flown on a couple of flights myself this is taken longer than expected but we're committed to getting it right mr than expected but we're committed to getting it right. mr mulan berg's testimony on tuesday to the united states senate commerce committee alter mulan berg's testimony on tuesday to the united states senate commerce committee also marked

a grim anniversary of the 1st fatal $737.00 crash the faded line so marked a grim anniversary of the 1st fatal 737 crash the faded lion air flight 610 indonesian investigators recently released a final report on air flight 610 indonesian investigators recently released a final report on that 1st 737 crash citing the controversial jumbo jet models flight can 1st 737 crash site in the controversial jumbo jet model's flight control system and c.i.s. as a significant factor in the crash the growing rattle system and c.i.s. as a significant factor in the crash the growing record of the $737.00 maxes trouble development leaves mr mulan berg an easy and inviting target for heard of the 737 maxes trouble development 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 some tough questions on tuesday in the senate and wednesday in the house and for more on these

congressional hearings are to correspondent karen friends at filed this report from near the site more on these congressional hearings are to correspondent karen friends i've followed this report from near the site of the hearings. janet yellen bergs 1st appearance on capital of the hearings. janet yellen works 1st appearance on capitol hill ever since those 2 fatal boeing $737.00 max crashes ironically ever since those 2 fatal boeing $737.00 max crashes ironically it's also the one year anniversary of the lion air jet crash that killed all $118.00 it's also the one year anniversary of the lion air jet crash that killed all $189.00 souls on board now mulan burke entered the senate hearing room tuesday surrounded 9 souls on board now mulan burke entered the senate hearing room to. day surrounded by families of the victims of those 2 crashes families holding up large photos were all read by families of the victims of those 2 crashes families holding up large photos were all raised directly behind mulan who appeared very focused an unemotional texas

senator ted raised directly behind mulan who appeared very focused an unemotional texas senator ted cruz the chairman of the commerce committee as aviation subcommittee says the panel plans on ask cruz the chairman of the commerce committee as aviation subcommittee says the panel plans on asking how was the plane designed without safety mechanisms that happen not once but twice how was the plane designed without safety mechanisms that happened not once but twice how was the regulatory system designed what were the incentives within the regulatory system how was the regulatory system designed 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 was 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 737 max before the 2 quit prior 730 seven's had but not the 737 max before the 2 crashes boeing targets

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

max out all the way over airlines to top its chief rival france based max out all the win over airlines to top its chief rival france based airbus at these hearings come just one week after boeing let go of one of their top executives are busts 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 kevin mcallister this after the company's 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 relationships with airlines poorly because he handled the company's largest point of business relationships with airlines poorly callus or face a growing internal scrutiny about his handling of relations in particular alister faced a growing internal scrutiny about his handling of relations in particular alienating important customers following the 2737 max crashes the 737 is getting important customers following the $2737.00 max crashes the $737.00 has been grounded since

march and it cost the major airline company $8000000000.00 been grounded since march and it cost the major airline company $8000000000.00 commercial business relations are more than 60 percent of boeing's total revenue last 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 as chairman of the board but he does remain as weak 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 questions today on capitol hill why is no one of the chief executives and that is one of the biggest questions today on capitol hill why is still a part of boeing the texas senator ted cruz says that that's not a government decision and we're still a part of boeing texas senator ted cruz says that that's not. government decision that's a shareholders decision chairman worker says that they're determined to work with the families to get them and that's a shareholders decision chairman worker says that they're determined to work with the families to get the answers and also bring those who are at fault accountable

for boom bust answers and also bring those who are at fault accountable for boom bust unfair and fronsac. i'm fair and fronsac. phase one of a trade deal between the united states and china could. phase one 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 soon be finalized but it may not be in time for a meeting between the president and she next month according to new reports artie's rachel blevins has the latest on the potential trade deal next month according to new reports artie's rachel blevins has the latest on the potential trade deal. for

months of trade talks leaders from the united states and china are sell. their months of 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 have 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 report which claims the u.s. and china are continually 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 it may not be completed in time for leaders to sign at the asia pacific economic cooperation summit in shell a president trying 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 summit in shell a buffer. as an interim told reporters on monday that he is optimistic and that phase one of the trade deal is already in the i've told reporters on monday that he is optimistic and that phase one of the trade deal is already in the works we are

looking. probably to be ahead of schedule decided to work so we are looking. probably to be ahead of schedule decided a very big portion of the china deal and a very big portion of the china deal and it will go a little in phases 11 but it's better but it's very big supporter but she didn't want or she didn't because that would take it further but if i were talking i merge because it would or take it to farmers it would take care of some of the other things it'll also take care of a lot of the bank in the now a quarter of some of the other things it'll also take care of a lot of the bank in the now according to reports watch trade talks continue the u.s. will consider extending some terrifying to reports watch trade talks continue the u.s. will consider extending some tariff exclusions and hung on $34000000000.00 in china and chinese exempt them poor words while the 1st part of a potential trade deal would temporarily prevent an increase in tariffs current us

to a potential trade deal which temporarily prevent an increase in tariffs current u.s. tariffs or 25 percent on 250000000000 dollars worth of chinese imports and 25 percent on $250000000000.00 worth of chinese imports and 15 percent on $110000000000.00 and goods will remain and all of a 15 percent on one $110000000000.00 and goods will remain and the looming threat of tariffs on virtually all remaining chinese imports which through its pacifically target main threat of tariffs on virtually all remaining chinese imports which weren't specifically target consumer goods could still go into effect in december the agreement would include of consumer goods could still go into effect in december the agreement would include. a mess from china that it will follow beijing's outdated ip and foreign investment for almost perfect china that it will follow beijing's outdated ip and foreign investment laws i made complaints from the

us that china is guilty of intellectual property that i made complaints from the us that china is guilty of intellectual property that phase one could also lead to the us removing china's currency manipulator status phase one could also lead to the us removing china's currency manipulator status as the countries make a bilateral commitment not to manipulate currency markets for us as the countries make a bilateral commitment not to manipulate currency markets for economic advantage the deal could also include a much needed break for farmer economic advantage the deal could also include a much needed break for farmers china agrees to resume purchases of products like soybeans and port lovers china agrees to resume purchases of products like soybeans and port high levels that were seen before the trade war began however the deal will not include a removals that were seen before the trade war began however the deal will not include a removal of restrictions on chinese telecom giant waterway qantas book 1st them

for trying to swerve all of restrictions on chinese telecom giant war way qantas spoke 1st then for china's foreign ministry continued to accuse the west of the economic bowling will mean to do if the ministry continued to accuse the west of the economic bowling well and to do if we resume louis oppose the us abusing the state power to suppress but we resume louis oppose the us abusing the state power to suppress specific chinese enterprises with unwarranted charges in the absence of any specific chinese enterprises with unwarranted charges in the absence of any evidence of the economic bullying behavior of the us is a denial of the market evidence of the economic bullying behavior of the us is a denial of the market. anomie principle the u.s. has always advertised. economy principle the u.s. has always advertised. the deal also does not include

a plan for how to end the trade war in reports the deal also does not include a plan for how to end the trade war and reports noted the trumpet ministration is eager to push the idea that the initial phase will be followed by others over the trumpet ministration is eager to push the idea that the initial phase will be followed by others but the expectations that will happen are low now it remains receding if phase but the expectations that will happen are low now it remains receding if phase one of a trade deal will be ready by next month as a trade war between the world's 2 largest 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 economy reporting from outside the office economies because to have an impact on the global economy reporting from outside the office of the united states trade representative in washington rachel blevins are. with the united states trade representative in washington rachel blevins are. the highly anticipated trade talks between president

xi and trump scheduled for. the highly anticipated trade talks between president xi and trump scheduled for chile next month has boosted optimism in the markets that a phase one will be finalized next month has boosted optimism in the markets that a phase one will be finalize that this will be the 3rd time the 2 leaders meet but in a last minute twist wrote it this will be the 3rd time the 2 leaders meet but in a last minute twist reuters reports that an interim agreement may not be completed in time for signing in chief supports that interim agreement may not be completed in time for signing in chile so how many time we have have you heard this story but with the store. owner mark and should a better market and to get at the better than to get our hopes up before. before i feel a good deal is intuitive when it comes time to trust from u.s. stocks quickly turned her negative thought on their part as investors that the closely watched trade talks were actually much further away from resolution on

their part as investors that the closely watched trade talks were actually much further away from resolution than previously believed for analysis on all things china and u.s. trade war we're now dry and then previously believed for analysis on all things china and u.s. trade war we're now joined by stuart senior apac international relations policy specialist with the institute for china i threw up senior apac international relations policy specialist with the institute for china american studies so so rob if everything goes ahead as planned the summit the american studies those arrive if everything goes ahead as planned the summit between she and president trump and she lay next month would be the 3rd time that the 2 leaders meet so when she and president trump in july next month 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 some will what's different about this time and what gives the market any reason to believe that something some trade deal could be hammered out at this

trade meeting think some trade deal could be hammered out at this trade meeting what's different this time move that we're just that bunch closer to donald trump reelection difference this time move that we're just that bunch closer to donald trump reelection campaign that is probably the most important so i can leave a good for the campaign that is probably the most important so i can leave i would say that there have been some warning indicators with regard to the u.s. economy's hold and there have been some warning indicators with regard to the u.s. economy sold and mr trump does not want that to flare up in the big we're going into the election but the but mr trump does not want that to flare up in the big we're going into the election but the bottom line no tears most of the so. early harvest that we're talking about these could have been hot on 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 there was no reason to drag the cells are

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

global g.d.p. and half the world's population there was some trouble earlier this week between india and malaysia that threaten to derail it but could this us do this week between india and malaysia that threaten to derail it but could this us china trade war help keep the r c e p back on track i think that the china trade war helped keep the r c e p back on track i think that the u.s. china trade war has been a stimulus for getting our set done it's the us china trade war has been a stimulus for getting our set done it's it's been in the works since 2012 guys like india frankly have been dragging their foot it's been in the works since 2012 guys like india frankly have been dragging their foot but it's coming close to a can. solution on november 4th there's a importantly but it's coming close to a conclusion on november 4th there's the important leaders summit in bangkok the high expectations that the deal will be signed grade of summit in bangkok the high

expectations that the deal will be signed right then or if not it looks happen very soon thereafter and i think an important or if not it will happen very soon thereafter and i think an important point to come out of all this is there are for countries are getting the agreement and certain point to come out of all this is there are for countries are getting the agreement it's a very broad political agreement the e.u. in canada didn't ask here the e.u. in very broad political agreement the e.u. and canada didn't ask here the e.u. in japan had done their economic liberalization agreement and what we see is the euro japan have done their economic liberalization agreement and what we see is the u.s. which once used to be the leader in this area has now been is the only party which is actually walking 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 meanwhile rachel mentioned briefly in the opposite direction frankly meanwhile

rachel mentioned briefly that while away right now ali and the other chinese tech companies e.t.e. which were blacklisted by the u.s. are while away right now to follow and other chinese tech companies e.t.e. which were blacklisted by the u.s. these issues have not been addressed yet and today china blasted the u.s. calling them as these issues have not been addressed yet and today china blasted the u.s. calling them a car economic bowling for proposals walking telecom kerry from by our by product of our economic bowl and our proposals walking telecom carry from buy our products it also now requires kerry to actually remove existing power and bt equipment it also now requires kerry to actually remove existing power and bt equipment so this again told a goes against them. market principles on which the us have previously and always so this again told me goes against the market principles on which the us has previously and always trumpeted so now it's likely to going to be at the center of

trade talks going to face comfort it so now is likely to going to be at the center of trade talks going into face to face 3 how can there be any compromise when it come to black and white issues such as the case you face 3 how can there be any compromise when it come to a black and white issue such as security here on the who are issue is going to be a complicated issue in theory you're on the who or issue is going to be a complicated issue in face to face 3 especially with the improved with the detention of the leaders does 2 phase 3 especially with the improve with the detention of the leaders daughter in canada that has has its own dynamic of the let me frame auto in canada and that has has its own dynamic of the let me frame answer in 2 parts ot the countries are at liberty to draw the national security paramount so in 2 parts ot of countries are at liberty to draw the national security perimeter in terms of their critical infrastructure including in telecoms and

countries of calm down a different point or in terms of their critical infrastructure including in telecoms and countries of calm down at different points in this regard that having being said not just about 12 points in this regard that having being said not just about here's the kind of the irony the double speak of the u.s. and the here's the kind of the irony the double speak of the u.s. and the u.s. talks in terms of china's state run or state driven economy were stocks in terms of china's state run or state driven economy which going off to the playing field with its industrial subsidies or 3rd anime where it's going off to the playing field with its industrial subsidies or 3rd translator and that those subs. these need to be removed but the fact of the matter is that it's 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 and all of china's who our way is through and through

a private company and all of china's dynamic artificial intelligence companies have recently all dynamic ery artificial intelligence companies have recently also been sanctioned as part of the shin junk journ sanctions export controls so being sanctioned as part of the shin junk journ sanctions export controls and so the us talks about china's state owned enterprises and state dominated and so the us talks about china's state owned enterprises and state dominated economy and yet goes ahead and punishes the most dynamic private to the economy and yet goes ahead and punishes the most dynamic private players and to kneecaps them and this itself is a large sure it will errors and to kneecaps them 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 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 respected in greater detail frankly. 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 thank you. for that i fear that i was a pleasure having you here thank you. checking in with the ups downs and outs of the energy market we've got one of the. checking in with the ups downs and outs of the energy market we've got one of each to report today conoco phillips reportedly the largest independent exports which to report today conoco phillips reportedly the largest independent exploratory energy firm on earth gets. day's good news with an expectations beating 3rd quarter or the energy firm on earth gets the day's good news with an expectations beating 3rd quarter earnings report net earnings worth $3100000000.00 adding up to earnings per share earnings report net

earnings were $3100000000.00 adding up to earnings per share of $2.74 conoco posted that figure despite an 18 percent fall in oil prices and conoco calculations global super major british patrol $2.74 conoco posted that figure despite an 18 percent fall in oil prices and conoco calculations global super major british petroleum posted a 41 percent year over year drop in net profit for q 3 i'm posted a 41 percent year over year drop in net profit for q 3 b.p. also cited what they say are onetime asterisks on q three's report or eat b.p. also cited what they say are onetime asterisks on q 3 report as reasons to list underlying replacement cost profit of $2.00 bill point $3000000000.00 as reasons to list underlying replacement cost profit of $2.00 bill point $3000000000.00 in place of the usual net profit that more conventional figure was even let dollars in place

of the usual net profit that more conventional figure was even lower at a flat $2000000000.00 and the largest remaining coal company in the united states were at a flat $2000000000.00 and the largest remaining coal company in the united states is now down and out as murray energy files for bankruptcy protections that is now down and out as murray energy files for bankruptcy protections the manner of climate killing coal publicly struggled to pay its bills earlier this month even after $1.00 of climate killing coal publicly struggled to pay its bills earlier this month even after a restructuring forbearance agreement analysts say is siding demand for coal was after a restructuring forbearance agreement analysts say is siding demand for coal was a fundamental factor in murray's demise. the world's most about one little furniture members demolish. the world's most valuable company is ready to go public after a series of delays that put the i.p.o.

incredible 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 the book on the 3rd of november according to a new report from last june 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 situation shares will be priced at the beginning of reuters citing people familiar with the situation shares will be priced at the beginning of december and trading will start on the top to all saudi aramco domestic stock as of this summer and trading will start on the top 2 all saudi aramco domestic stock exchange on the 11th of december the oil giant which controversial a valued itself at 2 trains on the 11th of december the oil giant which controversial a valued itself at 2 trillion dollars will float a one to 2 percent stake on their local market making it one of the largest 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 $20000000000.00 aramco has been public

offerings on the exchange worth roughly $20000000000.00 aramco has been forced to change plans for the i.p.o. multiple times since then noun's the decision to go public in 2016 forced to change plans for the i.p.o. multiple times since then nouns the decision to go public in 2016 while the company has been getting the offering off the ground they have also been roping in in sting while the company has been getting the offering off the ground they have also been roping in institutional investors sovereign wealth funds and wealthy saudi families to become anchor investors potential investors sovereign wealth funds and wealthy saudi families to become anchor investors going public is an opportunity for the kingdom to diversify their economy away from a sole focus on going public as an opportunity for the kingdom to diversify their economy away from a sole focus on fossil fuels. time now for a quick break but stay tuned because just on the up. time now 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 their 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. economy and twitter target but one could that mean in the bigger picture for the u.s. economy and twitter target. peter schiff of euro pacific capital joins us shell to help us make sense of the potential rate cut peter schiff of euro pacific capital joins us to help us make sense of the potential rate cut as we go to break here are the market numbers. and as we go to break here are the market numbers at the polls .

rational. rational. designer a lot of need a thief. designer need a thief. more

than an election with. more than an election. is you'll be dia reflection of reality. is you'll be via reflection

of reality. in a world transformed. what will make in a world transformed. what will make you feel safe. isolation because you feel safe enough. types and in a shop in my youth a good fulfilling the crises. where. are you going the right way or are you being led so. direct. what is truth in that so. direct. what is truth what is faith. in

a world corrupted what is faith. in a world corrupted you need to descend. you need to descend. to join us in the depths. or remain in the shallowness to join us in the depths. for a mate in the shallowness. during the great depression which i'm old enough to remember there was most of the fat during the great depression which i'm old enough to remember there was most of my family were poor working class there wasn't it was bed you know much worse subject and we were poor working class other wasn't it was bed you know much worse objectively than today 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. there was a real sense of hopefulness there isn't today to dip of there was a real sense of hopefulness there isn't today today's america was shaped by the 10 principles of concentration of wealth these america was shaped by the 10 principles of concentration of wealth and power. reduced democracy at time power. reduced democracy attack solid doubt engineer elections manufacture consent solid doubt engineer elections manufacture consent and other principles according to no on comes to ones another principle holds according to no on chomsky one set of rules for the rich offices for. the rules for the rich offices for.

that's what happens when you put her into the hands of a narrow sector that's what happens when you put her into the hands of a narrow sector of will which will is dedicated to increasing power for itself just her of will which will is dedicated to increasing power for itself just as you'd expect one of the most influential intellectuals of our time as you'd expect why. one of the most influential intellectuals of our time speaks about the modern civilization of america. speaks about the modern civilization of america.

welcome back check liking it on the balkan back checking in the aftermath of the 40 day you not strike a drop of the federal plants in the united states i did auto workers strike at general motors plants in the united states g.m. now says the labor action cost the carmaker $2900000000.00 in earnings in q g.m. now says the labor action cost the carmaker $2900000000.00 in earnings in q 33 to support. them still the audience and. jumping just short of 5 percent by mid day on tuesday the bad news confirms a g.m. profit guidance from rate of 5 percent by mid day on tuesday the bad news confirms a g.m. profit guidance from the warning. red think that and it backs it added that there are also significant downstream costs for g.m.

suppliers that have yet to be tallied and most of those firms are a significant downstream cost for g.m. suppliers that have yet to be tallied and most of those firms as owner of things or the reports were notable it's no 7 is detroit based lyrics. based lyric corp layer c.e.o. ray scott told trade publication automotive news last friday and they are c.e.o. ray scott told trade publication automotive news last friday that each week of the strike costlier between. so betty and $75000000.00 each week of the strike costlier between $70.00 and $75000000.00 nevertheless we're stock rose by more than 2 percent on the disclosure nevertheless we're stock rose by more than 2 percent on the disclosure. the s.n.p. had a record high on tuesday extending monday's rally as and. the s. and p. had 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 has looked ahead 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 help 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 us and she lay thinking the market and too close fact 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 be and p. $500.00 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 for business the that 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 just being less bad 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 buy and extend 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 now 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 for more on this we're now joined by peter schiff c.e.o. of the euro pacific capital so peter phase one deal is. hyped up this entire ball rally so peter phase one deal just hyped up this entire ball rally and this is just an interim deal that basically just kicks the trade can worries down the road and delays and this is just an interim deal that basically just kicks the trade can worries down the road and delays action the u.s. is actually hedging themselves right now as treasury secretary manage an action 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 out that is still not giving a definitive answer on whether or not the december 15th have will be taken off the table so if there is one is this hard to nail down how bad will fade hable so if phase one is this hard to nail down how bad will face to be. well know there's ever going to be a phase 2 i think phase 2 b. . 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 ways one is simply a way for trump to save face and to surrender in the trade war but still claim victory. and peter a trade war but still claim victory. and peter is talking about the federal reserve cutting rates yet where is talking about the federal reserve cutting rates yet again even while the market is breaking out from the

record highs we saw this record close yesterday on again even while the market is breaking out from the 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 as and p. 500 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 we've been over 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 in now to justify this 3rd one stocks are hovering near a 15 month high. well we'll see how they walk that tightrope you know they're trying. 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 in their protests 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 some kind of insurance policy but if you remember a year ago at this time not only was the fed raising rates but they had forecasts that they would continue to or not only was the fed raising rates but they had forecast 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 raised 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 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 talk that they're cutting rates they're back to quantitative easing they have called off quantitative tightening reversed course they're doing quantitative easing except they're not admitting to reverse course they're doing quantitative easing except they're not admitting that's what they're

doing because they're in barrels that have to acknowledge this but it is that's what they're doing because they're in barrels that have to acknowledge this but if you actually look at how rapidly the fed's balance sheet is growing now it's actually you actually 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 weren't than when they were really growing faster when they're not doing q.e. than weren't than when they were. so right now as you mentioned the fed's balance sheet is basically exploding they're doing $60000000000.00 so right now as you mentioned the fed's balance sheet is basically exploding they're doing $60000000000.00 a month on q.e. they're injecting $130.00 daily every single night on daily dollars a month on q.e. they're injecting $130.00 daily every single night on daily repos why is this fed injecting so much liquidity into the system when they still play repos why is this fed injecting so much liquidity into the system when they still claim that nothing

is wrong and right now we're expecting a very hard to break up tomorrow and that nothing is wrong and right now we're expecting a very hard to break up tomorrow. just ignore what they say and look at what they do they are trapped. yeah 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 eyeing 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 not 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 fast is 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 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 and 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 in the future certainly are a lot of bubbles google actually just reported and while they be on revenues they missed an e.t.f. so this is partially they say they claim while they be on revenues they missed an e.t.f. 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 could do to lower margin now that their margins have been shrinking for several quarters so is this concerning and given these diminishing returns is google still considered a high growth stock play uncertain and given these diminishing returns is google still considered a high growth stock player now. look all of these stocks google included are now. a look all of these stocks google included are dramatically overvalued because of

the fed because of the model are dramatically overvalued because of the fed because of the monetary policy that we've pursued we have inflated asset prices and carry power. see 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 like sachs 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 there are a lot of 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 now google 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 present value 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 health prevent 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 acidy economic 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 you know dollars from put out a tweet today in which he's envious of the europeans and the japanese because they have negative rates and he says this is great you know they get to borrow obvious 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 americans get paid to borrow what trial they get to be 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 this because overlooking 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 savers 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 the citizen. who are going to end up losing because they're financing loans but all of this is producing malinvestment it's helping to expand government at the expense of the real economy and peter just to play devil's advocate for it but all of this is 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 looking at one indicator in your minute i'm here soon looking and yes on an 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 stays in october and 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 one trade deal is a lot of hype and may very well still not happen so is there an argument that the fed this 3rd rate cut so is there 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 prudent measure to ensure 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 a deal doesn't go through. the one thing the rate cut is not is prudent it's a desperate attempt again to keep the air from coming out of the bubble to maintain it's a 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 false 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 economy 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 borrowing money to buy stuff that they're loaded up. 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 they can't afford 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 and you have all of this hype coming out of wall street coming out of the media to try to encourage all of this falls off the optimism the fed plays into that to try to 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 online the fed 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 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 blind 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 sided but i think it's the investors who are in for an even more painful awakening. peter schiff of euro pacific capital thanks. peter schiff of euro pacific capital thanks so much for joining us. our pleasure. shares a very much for joining us. our pleasure. shares of virgin galactic founded by sir richard branson begun trading on monday morning at a total about a single lactic founded by sir richard branson begun trading on monday morning at a total valuation of 2300000000 dollars after a merger with social capital had

a sophia of $2300000000.00 after a merger with social capital ahead of sofia this i.p.o. makes virgin galactic a ticker symbol as g c the 1st ever this 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 or commercial 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 completed to test flights using spaceship 2 vessels this i.p.o. raise much needed funds for a virgin galactic as they attempted to test out an uncharted markets the company funds far virgin galactic as they attempted to test out an uncharted market the company has yet to turn a profit and incurred net losses of 86.7 $1000000.00 and the has yet to turn a profit and incurred net losses of $86700000.00 in the 1st 6 months of 2019 shares

rose as high as $12.93 but closed 1st 6 months 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 competes with down at $1175.00 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 jeff bezos blue origin and a lawn must face x. a report in march estimated that space tourism has a potential market cap of $3000000000.00 a decade from now even that space tourist. them has a potential market cap of $3000000000.00 a decade from now even though currently it's still at its nascent phase. that's it by this time even though currently it's still at its nascent phase. that's it by this time you can have a boom bust on direct t.v. channel 321 dish network to 84. directv channel 321 dish network 284 streaming 247 on flooded t.v. the free t.v.

ads to 79 or you can always go streaming 247 on flooded t.v. the free t.v. ads to 79 or you can always go to so i want you to dot com slash boom bust r t c next on. this i want you to dot com slash boom bust hard to see next time.

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believe it with little spotlight. and government mental health or 36 fall. firefighters to tell is that the focus so this isn't this is this place like this. is this. no not cool stuff so far a group of our forefathers of our north and norris responsible for the fate 6 you know from from all material on the outside of the towers. from all material on the outside of the towers. so a scathing new report by human rights watch says the u.s. sanctions are preventing ordinary so a scathing new report by human rights watch says the u.s. sanctions are preventing ordinary.