economy today and in today's big deal edward harrison and i are discussing next neutrality the supreme court and the future of the technology industry that's a lot to get in there you want to miss a moment and it all starts right now. our lead story today detroit now the latest sign of the city's rapid decline comes from detroit's water department many residents in detroit have stopped paying their water utility bill and the city is combat in the issue by shutting off water to more than three thousand homes and businesses per week in an effort to stop utilities from sliding even further into debt this however has sparked outrage and i mean outrage among activist groups including the united nations a u.n. team of experts says that detroit's decision to shut off water is enough front to human rights those are pretty tough words now detroit's water and sewage department is a q. charging exorbitant lehi rates to local residents and placing the burden of the city's fleeing tax base upon the shoulders of its poorest citizens now as detroit struggles to shed some of its eight hundred billion

it's my favorite big deal day this week thursday tech there stays with the one and only edward harrison almost got caught it ok now we're taking a look back on digital privacy in the context of the one year anniversary of edward snowden's and as a revelation now on june fifth twenty thirteen guardian newspaper journalist glenn greenwald revealed a top secret court order to collect information on millions of calls both in the u.s. and between the u.s. and other countries the surveillance state that's all i have to say the surveillance state so taking a step back from all of these revelations what is your takeaway from this my biggest takeaway basically is that it's actually private companies that are collecting all the data that the u.s. government is piggy back you know the u.s. government's going out and collecting tons of data on things that we're doing rather it's that we are getting private companies are getting data for whatever reason and through whatever means the u.s. government is. piggybacking on taking that data collected in the aggregate it together i think is very negative

with that watch mr tim do we think he's on the show to discuss all things bad and is a big deal edward harrison and i are discussing government intrusion into our digital privacy and how that right is our fundamental civil rights you want to miss a moment and it all starts right now. our lead story today financial disclosure now a new national database is being assembled by the federal housing finance agency and the consumer financial protection bureau that will compel as many as two hundred twenty seven million americans to disclose intimate details about their family's financial health now in a reversal of previously stated policy the f h f a z c f p d or together expanding their joint mortgage database program to include personally identifiable information the f h f a claims that the database is essential to conducting monthly mortgage surveys and to helping to prepare its annual report to congress however this vast database isn't lacking in critics detractors question the agency's authority to collect such information and also fear that the new database will be vulnerable to cyber attacks w

financial institutions following the crisis and in today's big deal edward harrison and i are talking about the current conflict in iraq and what effects it has can and will have on the markets also remember you can see all segments featured in today's show on you tube at youtube dot com slash boom bust our teeth and on hulu out who dot com slash boom dash bust but before we go here are a look at some your closing numbers of the bell stick around. plus talk rules in effect that means you can jump in anytime you want. we welcome there are native. to a precocious team that work. it's going to give you a different perspective if you want to start never i'll give you the information you make the decision don't worry about. the revolution of the mind it's a revolution of ideas and consciousness through the system it's very very new approach which would be described as angry i think in a strong no wonder single. welcome back to the show now the fed has been working overtime to protect u.s. financial institutions from harm ever since the financial crisis hit the united states back in two tho

big deal time with the one and only mr edward harrison and today edward and i are discussing iraq on the subject ok so everyone seems to be talking about iraq these days and the apparent jihadist insurgents taking over key cities there so you know this is threatening instability in the country but here's the question for you and for me and why we're talking about this is this an economic story you know i mean this is a show so why should we be talking about this story and the next at this point it's not an econ story yet ok so the question is how will it become the story which we which we care about i think the interesting bit is is oil basically i mean is iraq not that big a country economically speaking in the global stage but it has a lot of oil and because it has oil that means that it can have a disruptive impact on oil markets and in particular i think the country that we really need to look at in terms of disruption is the one that marshall was just talking about china china gets a lot of oil from iraq and they are very much dependent upon oil in terms of their manufacturing s

big deal time and one of my favorite people in the whole wide world is back to party mr edward harrison good to be now today edward and i are discussing financial crisis small tiny little topic ok so let's make this a slightly different big deal we're going to dive right in now we just spoke with our back about minsky so i kind of want to use this big deal to get a little more insight into what he said and did and who he is so first and foremost who is minsky and why should we care. you were calling the heterodox economists and that means basically wasn't mainstream in the mainstream that we have today is basically neo classical economics which is a sense this is traditional classical economics and keynesian economics as depicted or as brought together by paul samuelson and for the most part from sixty five to ninety min ski was at washington university in st louis and he had this idea of financial markets as being inherently unstable over time as a result of people taking on more risk and i think that we should care about that because we've just seen a huge financial crisis and we thin

after a brutally rigid start to the year will discuss coming right up and in today's big deal edward harrison and i are talking about the current conflict in iraq and help potentially imperiled the oil markets you won't want to miss a moment get to it. our lead story today american banking exceptionalism in the framework of the b.n.p. dispute now right now french bank b.n.p. perry ball is being investigated for a laundry money for the sudanese and the iranians u.s. authorities are looking into whether b.n.p. evaded u.s. sanctions between two thousand and two and two thousand and nine and whether the bank stripped out identifying information from wire transfers in order to pass through the u.s. financial system without raising any red flags and allegedly covering up forty million dollars in transactions now u.s. regulators are currently working out settlement terms with the banks which are expect. did to amount to roughly eight or nine billion dollars in fines the fines will settle charges that the bank was doing illegal business however on top of the cash payments the french bank is also bein

economy today and in today's big deal edward harrison and i are discussing next neutrality at the supreme court and the future of the technology industry that's a lot to get in there you want to miss a moment and it all starts right now. with . our lead story today detroit now the latest sign of the city's rapid decline comes from detroit's water department many residents ended.

big deal time with my partner in crime mr edward harrison and today we're talking about net neutrality the supreme court and the future of the technology industry a lot of stuff there said word are some interesting news to talk about from this past week and i first want to talk about tim with the man who coined the term network neutrality that's a big term we're hearing it all around lately and most people don't know what it means because it's kind of it makes sense when you can find it but it seems like tim is you know taking more than just an advocate stance here when it comes to network neutrality so can you tell me what he's up to what this is all about you know what i've heard is that he's running for the telling the governor of new york i know what you want to go to action in terms of network neutrality in particular one of the issues that he's looking. for a cable that merger and that's a big merger in the new york area because tom were the cables there he believes this is a competitive that it's going to reduce competition in that space and therefore he wants to block it and so

big deal time with the money from mr edward harrison now today we're discussing government intrusion into our digital privacy and from an overreach threatens our fundamental civil rights very concerning thing eldara love said the founder of lava bit an encrypted e-mail service published an article in the guardian describing how the federal government forced levison to install a surveillance device on his email servers and surrender his company's private encroaching keys this of course undermines the very service that lava bit wanted to offer which was designed to protect users privacy and when response leveson shut down his company's so edward with the ongoing saga of snowden versus the u.s. surveillance state levinson's article it brings up some very important issues here so can you tell me what struck out as the most unnerving part of these legal proceedings with love a bit and. for me it was the concept that the government really controlled the process is a very secret process that if you. government tried to do the exact same thing with google having a secret process with suing g

crisis these markets are back on the program to answer those questions and in today's big deal edward harrison is back and it is studio and today and word and i are talking about financial crisis this past and present time not to get to. like many milestones marriage home children however those traditional milestones don't seem to be happening for the millennial generation and the reason is lack of money today yet many many young adults are unable to launch their lives and leave the safety of their homes following college graduation now according to an annual study that polled one thousand young people going through the transition from college to post-graduate the majority of young adults are struggling to achieve financial security in their transition from college to adulthood and the reason for this seems to be directly related to financial well being about half of the services respondents continue to need financial support and it isn't just a problem of on employ. the survey also found that half of those still getting help from their parents have full time jobs pretty shocking stuff now acc

it all down and give us his take on the latest from the world of tax and in today's big deal edward harrison and i are discussing the hardest places to live in america you won't want to miss a moment and it all starts right now. with . our lead story today facebook now whether or not we like it for most everyone watching this program right now facebook touches our lives in one way or another myself included now some may be totally ok with that and some might not but make no mistake to facebook we are all. true story now last week facebook admitted that as part of a psychological study to examine how emotions can be spread on social media the same manipulated the news feed of over half a million randomly selected users in order to change the number of positive and negative posts that they saw now facebook's researchers found that the display of moods were contagious the people who saw more positive posts responded by writing more. posts likewise seen more negative content prompted viewers to be more negative in their own posts now facebook is an apologetic about the emotional contagion experi

financial institutions following the crisis and in today's big deal edward harrison and i are talking about the current conflict in iraq and what effects it has can and will have on the markets also remember you can see all segments featured in today's show on you tube at youtube dot com slash boom bust our teeth and on hulu out who dot com slash boom dash bust but before we go here are a look at some your closing numbers of the bell stick around. did you know the price is the only industry specifically mention in the constitution and. that's because a free and open process is critical to our democracy but there's. in fact the single biggest threat facing our nation today is the corporate takeover of our government and across the cynical we've been hijacked lying handful of transnational corporations that will profit by destroying what our founding fathers once we'll just i'm tom are in on this show we reveal the big picture of what's actually going on in the world we go beyond identifying the problem to try rational debate and a real discussion critical issues facing them not to find

financial institutions following the crisis and in today's big deal edward harrison and i are talking about the current conflict in iraq and what effects it has can and will have on the markets also remember you can see all segments featured in today's show on you tube at youtube dot com slash boom bust our teeth and on who out who dot com slash boom bust but before we go here are a look at some your closing numbers of the bell stick around. choose your language. killing the kid with no intervention will send a special someone. chooses good school consents to. choose the opinions that you think great to. choose to stories could impact the. truth access to. crane and the prospects of peace preliminary talks of a limited nature are underway to avoid an all out civil war so it remains to be seen whether the regime in kevin seriously to date one thing is certain violence fully divides ukraine. you know general macarthur once said americans never quit that was when there was something worth fighting for before a fraud was the only way of life post gold standard abandonment and bankruptcy b

economy is headed and then in today's big deal edward harrison and i are talking sports shenanigans a financier a gambler a goal for a walk into a bar was a joke and you got to stay tuned to find out on today's big deal but before we go here are a look at the miracle of the numbers of the bell stick around. big bucks but. we're going to do. that you know the price is the only industry specifically mentioned in the constitution and. that's because a free and open press is critical to our democracy correct albus. rule. in fact the single biggest threat facing our nation today is the quote where the takeover of our government and our civic we've been hijacked right handful of transnational corporations that will profit by destroying what are probably the hardest ones will just my job market it on this show we reveal the big picture of what's actually going on in the world we go beyond identifying the problem to try rational debate and a real discussion critical issues facing them but are you ready to join the movement and welcome there. well you like me you want your comedy news and some

big deal time with the wonderful mr edward harrison now today we're discussing government intrusion into our digital privacy and how government overreach threatens our fundamental civil rights very concerning thing eldar levison the founder of lava bit an encrypted email service published an article in the guardian describing how the federal government forced levison to install a surveillance device on his email servers and surrender his company's private encroaching keys this of course undermines the very service that lava bit wanted to offer which was designed to protect users privacy and when response leveson shut down his company so edward with the ongoing saga of snowden versus the u.s. surveillance state levinson's article it brings up some very important issues here so can you tell me what struck out as the most unnerving part of these legal proceedings with love a bit and. for me it was the concept of the government really controlled the process is a very secret process that if you imagine the government trying to do the exact same thing with google having a secret process with s

and these markets are back is on the program to answer those questions and in today's big deal edward harrison is back and in his studio and today edward and i are talking about financial crisis cost and friends and time now to get your. like many milestones marriage home children however those traditional milestones don't seem to be happening for the millennial generation and the reason is lack of money today yet many many young adults are unable to launch their lives and leave the safety of their homes following college graduation now according to an annual study that polled one thousand young people going through the transition from college to post-graduate the majority of you.

crisis that these markets are back on the program dancer those questions and in today's big deal edward harrison is back and in the studio and today edward and i are talking about .

fears of instability in the global oil markets aaron eighty and finance analyst edward heron edward harrison tackled this subject in boom bust a bit later today. if i think that the politics affect the economy and not the politics and the political games that will need to be played here in iraq will affect the economy more than just the oil situation the reality is that you know politics do impact economics and vice a versa so what happens in it potentially could have negative implications on economics just because of the politics i think the interesting bit is that is oil basically i mean is iraq not that big a country economically speaking on the global stage but it has a lot of oil and because it has oil that means that it can have a disruptive impact on oil markets. a little late and i take a look at these pictures thick clouds of smoke and covered parts of the russian city of novice a beer after half constructed shopping center caught fire at least two people have been taken to hospital with burns several nearby buildings have been evacuated because of the heavy smoke because of the fir

crisis that these markets are back on the program dancer those questions and in today's big deal edward harrison is back and in studio and today and word and i are talking about financial crisis this past present time not to get too. like many milestones marriage home children however those traditional milestones don't seem to be happening for the millennial generation and the reason is lack of money today yet many many young adults are unable to launch their lives and leave the safety of their homes following college graduation now according to an annual study that polled one thousand young people going through the transition from college to post-graduate the majority of young adults are struggling to achieve financial security in their transition from college to adulthood and the reason for this seems to be directly related to financial well being about half of the services respondents continue to need financial support and it isn't just a problem of on employ. the survey also found that half of those still getting help from their parents have full time jobs pretty shocking stuff now according

country's prompting fears of instability on the global oil markets well aaron aid and finance analyst edward harrison tackled this in boom bust a little later on today. i think the politics affect the economy and that the politics and the political games that will need to be played here in iraq will affect the economy more than just the oil situation the reality is that your politics do impact the economics and vice a versa so what happens in iraq it potentially could have negative implications on economics just because of the politics i think the interesting is oil basically i mean does iraq not that be a country economically speaking when the global stage but it has a lot of oil because it has all that means that it can have a disruptive impact on oil markets. that's going bust a little later on politicians in the u.k. have been signed in the influx of immigrants from the nine year old gary after brussels liftin point restrictions for them here is estimated britain could see a rise of fifty thousand people a year coming from the to eastern european countries meanwhile some brits the choosing to rev

after a brutally rigid start to the year world discuss coming right up and in today's big deal edward harrison and i are talking about the current conflict in iraq and help the potentially imperiled the oil markets you won't want to miss a moment to it. our lead story today american banking exceptionalism in the framework of the b.n.p. dispute now right now a french bank b.n.p. perry ball is being investigated for a laundry money for the sudanese and the iranians u.s. authorities are looking into whether b. and p. evaded u.s. sanctions between two thousand and two and two thousand and nine and whether the bank stripped out identifying information from wire transfers in order to pass through the u.s. financial system without raising any red flags and allegedly covering up forty million dollars in transactions now u.s. regulators are currently working out settlement terms with the banks which are expected to him. roughly eight or nine billion dollars in fines the fines will settle charges that the bank was doing illegal business however on top of the cash payments the french bank is also being p

the latest from the ground in detroit and john moulden is on the program as well my colleague edward harrison sat down with the man behind moulton economics to discuss what the latest economic data says about the u.s. economy today and in today's big deal edward harris and i are discussing net neutrality the supreme court and the future of the technology industry that's a lot to get in there you want to miss a moment and it all starts right now. our lead story today detroit now the latest sign of the city's. did decline comes from detroit's water department many residents in detroit have stopped paying their water utility bill and the city is combat in the issue by shutting off water to more than three thousand homes and businesses per week in an effort to stop utilities from sliding even further into debt this however has sparked outrage and i mean outrage among activist groups including the united nations a u.n. team of experts says that detroit's decision to shut off water is an affront to human rights those are pretty tough words now detroit's water and sewage department is accused of cha

after a brutally origin start to the year will discuss coming right up and in today's big deal edward harrison and i are talking about the current conflict in iraq and the potentially imperiled the oil markets he won't want to miss a moment get to it.

local boss edward harrison and aide has the day off there are two interesting stories on our radar today the first phoenix housing the second goober let's start with phoenix now phoenix is the key to stressed housing market to follow a canary in the coal mine for formal bubble markets and data from the month of may clearly show that the housing market there topping out again. three major elements point to weakness going forward. number one overall sales in may were down twenty one percent year over year that's the lowest for may since two thousand and eight to pass sales were down forty percent so investors looks like its meanwhile sales were down to about nine percent year over year and three active inventory is increasing in the rapidly up forty seven percent year over year that's the highest level since for may since two thousand and eleven so what's the takeaway expect price increases in phoenix to flatten out in two thousand and fourteen while housing prices may have increased in two thousand and twelve and two thousand and thirteen those large increases were likely due to low inven

big deal and today edward harrison and i are talking about debt forgiveness and the rebalancing risks in our economy pretty exciting stuff now in the house of debt which is fantastic by mere soupy and i keep me on has been getting a lot of attention for the ways that it explains the causes of the financial crisis and for policy prescriptions afterwards now here's a clip from our interview with professor amir syfy one of the co-authors. so the central argument that we're making is if you have a very narrow focus and all you think about is well we have to protect banks we have to protect banks you fail to recognize that actually forgiving some of the debt while it may impose a short term loss on mortgages is actually better in the long run for the overall economy and i think that's the painful lesson that we've learned and that is exactly why the great recession in the united states was such a prob long economic downturn it's because we didn't do nearly enough debt forgiveness right up front and not enough up front so at first and foremost can you give me a brief rundown of their argume

and today edward harrison and i are talking about debt forgiveness and the rebalancing risks in our economy pretty exciting stuff now in the house of debt which is fantastic by mere soupy and neon has been getting a lot of attention for the ways that it explained to us or a mere sixty one of the co-authors. so the central argument that we're making is if you have a very narrow focus and all you think about is well we have to protect banks we have to protect banks you fail to recognize that actually forgiving some of the dead while it may impose a short term loss on mortgages is actually better in the long run for the overall economy and i think that's the painful lesson that we've learned and that is exactly why the great recession in the united states was such a prolonged economic downturn it's because we didn't do nearly enough debt forgiveness right up front and not enough up front so at first and foremost can you give me a brief rundown of their argument and particularly amir's right there and you know in their book why do they emphasize debt forgiveness specifically well the basic with

the boss edward harrison aid has the day off there are two interesting stories on our radar today the first phoenix housing the second hoover let's start with phoenix now phoenix is a key distressed housing market to follow a canary in the coal mine four former bubble markets and data from the month of may clearly show that the housing market there topping out again. three major elements point to weakness going forward number one overall sales in may were down twenty one percent year over year that's the lowest since two thousand and eight two past sales were down forty percent so investor looks like it's. meanwhile. we're down to about nine percent year over year and three active inventory is increasing rapidly up forty seven percent year over year that's the highest level since before may since two thousand and eleven so what's the takeaway expect price increases in phoenix to flatten out in two thousand and fourteen while housing prices may have increased in two thousand and twelve and two thousand and thirteen those large increases were likely due to low inventory investor buy and

big deal and today edward harrison and i are talking about debt forgiveness and the rebalancing risks in our economy pretty exciting stuff now in the house of debt which is fantastic by mere safety and i keep me on has been getting a lot of attention for the ways that it explains the causes of the financial crisis and for policy prescriptions afterwards now here's a clip from our interview with professor amir syfy one of the co-authors. so the central argument that we're making is if you have a very narrow focus and all you think about is well we have to protect banks we have to protect banks you fail to recognize that actually forgiving some of the dead while it may impose a short term loss on mortgages is actually better in the long run for the overall economy and i think that's the painful lesson that we've learned and that is exactly why the great recession in the united states was such a pro long economic downturn it's because we didn't do nearly enough debt forgiveness right up front and not enough up front so at first and foremost can you give me a brief rundown of their argume

after a brutally origin start to the year will discuss coming right up and in today's big deal edward harrison and i are talking about the current conflict in iraq and the potentially imperiled the oil markets you won't want to miss a moment to it. our lead story today american banking exceptionalism in the framework of the b.n.p. dispute now.

edward harrison and aide has the day to day's headlines. the average two thousand and fourteen graduate student loans thirty three thousand dollars according to an analyst an analysis of government data by advisers that makes it the most indebted ever as this graph shows you double the amount just twenty years ago even after adjusting for inflation in aggregate the student debt load in the united states is now about one trillion dollars but help is on the way just yesterday president obama signed an executive order capping payments at ten percent of monthly income for millions of borrowers here's what president obama said on the issue. we are here today because we believe that in america no hardworking young person should be priced out of a higher education. the president also voiced support for massachusetts senator warner's bill to cap interest rates on student loans but here's what the president isn't doing he isn't reducing debt principal payments he isn't allowing debtors to discharge student loan debt in bankruptcy and he isn't preven