now what do you sell the pants at the highest debt to g.d.p. they've got the highest debt so. versus you know their central bank oh look yes well i get mad yeah oh yeah man so yeah all the groups are going to buy of all these arms bonds chancel that debt nerd start with a clean slate let's do it let's go for now and i propose one more step while around why don't i just buy up all the debt of corporations too given that they were buying all these stocks well you know it was as. though the swiss national she asked oh man x. this is what him t. says re can do i'm ready for a while i made a case just a follow up on that the reason why the that the problem there is that these deaths have been re hypothecated and pledged against other assets and banks all over the world so cancelling japan's debt whatever the fact that the global economy into a freefall and it would immediately come to a grinding halt because of the fraud that happens on a such a now you know that max and i'm know that a remark that well this isn't about the m.m.t. stires say oh yes isn't. this let's mills a collaps

the kaiser report let's talk about the overall economy how's it doing max we're talking about the g.d.p. now forecast atlanta office of the federal reserve predicting a five point four percent g.d.p. in q one two thousand and eighteen preston j. byrne response wow these are reagan early one nine hundred eighty s. numbers that's a lot of growth brought on by a policy is that would stimulate growth so what is the opposition going to say to try to make this sound bad i don't know well i imagine your guess from the second half is going to say the atlanta fed has always had an outlier saying wow the economy is booming and in fact i have to revise it down to like two or three percent right now they're saying it's five point four percent it could just be a parting gift for janet yellen who was the chairwoman of the federal reserve i can pull up my collar in honor of her you know as she can or something i have no idea but she does seem to prefer putting her little collars up not in town suits she wears pantsuits again with the pantsuits look all this growth is also being reflected in the rising ills

their kaiser report let's talk about the overall economy how's it doing max we're talking about the g.d.p. nowforecast atlanta office of the federal reserve predicting a five point four percent g.d.p. in q one two thousand and eighteen preston j. byrne responds wow these are reagan early one nine hundred eighty s. numbers that's a lot of growth brought on by a policy is that would stimulate growth so what is the opposition going to say to try to make this sound bad i don't know well i imagine your guess from the second half is going to say the atlanta fed has always had an outlier saying wow the economy is booming and in fact they'll have to revise it down to like two or three percent right now they're saying it's five point four percent it could just be a parting gift for janet yellen who was the chairwoman of the federal reserve i can pull up my collar in honor of her you know as she can or something i have no idea but she does seem to prefer putting her little collars up not and concerts she wears pantsuits again with the pantsuits look all this growth is also being reflected in the rising

anywhere in the world the money they send home accounts for roughly ten percent of the country's g.d.p. now human rights watch as the philippine government to demand stronger protections for overseas worker rights workers rather than a deployment ban saying that the philippines has been a leader and instituting protections for their domestic workers in the middle east but these work best for migrants arriving through a regulated channel a ban would force workers to take a greater risk to seek employment overseas while cutting off a critical source of income for the families in the philippines so let us know what you think about this what you think of the band you can let us know using the hash tag it is good well art curators in sydney have organized an exhibit exposing australia's treatment of refugees they asked artists to imagine and then paint scenes described in real incident reports by refugees an offshore detention centers and or thomas reports. she had been asking for a four minute shower as opposed to two minutes her request to be accepted on condition of sexual favor he had also t

combined wealth totaled seven point six seven trillion dollars that's almost twice germany's g.d.p. . right now jeff basis the founder of online shopping retailer amazon is the world's richest man and that's thanks partly to the stock market's basis own sixteen percent of amazon shares and their value is skyrocketing in the first days of this year his estimated wealth increased by six billion dollars billion as simply work harder than the rest of us. work hard they don't wait for others to give them something from us they get busy themselves that's why the rich keep getting richer even. if you believe the statistic shown on this so-called wealth clock private wealth is increasing by one billion euros a day net in germany alone that sounds. even more abstract than this time piece the purpose of which is less to tell the time the to let the wearer flash their wealth. but is it really true that the rich are getting richer it's not something rich people like to talk about but someone who manages their wealth ought to know i find an asset manager in the heart of berlin. i figure the job of an asset

g.d.p. growth now this is happening at an era when technology has brought consumerism a different spin on the game with sites like amazon and elsewhere so when you think about consumerism an emerging markets like first thing maybe a procter and gamble right they shampoo and health care products and deodorants and stuff the p. and g. does and these people are getting the design or you know side of the law but does these technology platforms like amazon are going to grow their own amazon or is amazon just going to move into these places great question and it's really they're going to leapfrog just like they did in wireless and they skipped wireline with straight to wireless so they take advantage of technology e-commerce in china is one of the biggest trends really going out there thinking ali baba you know not much ten years ago today one of most dominant players on the planet ten cent and we chat huge huge platforms for commerce think about this every day last year somebody's boss stuff on a mobile phone and two hundred forty. million people in the united states bought something with their mo

g.d.p. growth now this is happening at an era when technology has brought consumerism a different spin on the game with sites like amazon and elsewhere so when you think about consumerism and emerging markets like first thing maybe a procter and gamble right they shampoo and health care products and deodorants and stuff the p. and g. does and these people are getting the design or you know side of the law but does these technology platforms like amazon are going to grow their own amazon or is amazon just going to move into these places great question and it's really they're going to leapfrog just like they did in wireless and they skipped wireline with straight to wireless so they take advantage of technology e-commerce in china is one of the biggest trends really going out there and get all the baba you know not much ten years ago today one of most dominant players on the planet ten cent and we chat huge huge platforms for commerce think about this every day last year somebody boss stuff on a mobile phone and two hundred forty. million people in the united states bought something with their

g.d.p. without oil and gas and now it is down to seven percent of the g.d.p. our goal for twenty nineteen is to go below six percent of the g.d.p. and we're really decreasing our dependence on oil and gas and we're taking that they receive those absolutely so there are real actions that will introduce tangible results in the order something that absolutely. yes they are. going to we're going to take a short break right now where a lack will continue talking to the precious finance minister will talk more about cryptic currencies and precious and went on oil industry stay with us. turkey's decision to invade northern syria has foreign policy implications far beyond the middle east what our anchor is objectives in syria and the region does it to suit a final peace settlement to syria's proxy civil war and what is turkey's future in nato. run out of the with. the best out of. the concepts i was preparing to perform i actually prepared myself to. start her. scanty was. what. was it he agreed with. me she. i mean here you. know we're back with i don't see why i'm n

seen now what do you sell the fans get the highest at the g.d.p. they got the highest at two. versus you know their central bank oh ok canceling it now yeah well yeah ancyl all the grunt they're going to buy of all these bonds bonds cancel the debt marry start with a clean slate let's do it let's go for it and i propose one more step was around why don't they just buy up all the debt of corporations to give in as are buying all these stocks well we know it as is what the swiss national bank yes by all max this is what mt says we can do i'm ready for a test well i made ok. just a follow up on that the reason why the that the problem there is that these deaths have been re hypothecated and pledged against other assets in banks all over the world so cancelling japan's debt would in effect put the global economy into a freefall and it would immediately come to a grinding halt because of the fraud that happens on a sudden now you know that max and i'm know they had a remark they did that but this isn't about the m.m.p. thing or say oh yes isn't. this let's mills a class give them le

g.d.p. without oil and gas and now it is down to seven percent of the g.d.p. our goal for twenty nineteen used to go. six percent and we're really decreasing dependence on oil and gas and we're taking that theory seriously. absolutely and then so there are real actions that will extrude use tangible results or the orders unless i absolutely. yes they are. going to we're going to take a short break right now. continue talking to the freshest finance minister we'll talk more about crypto currency. went. with. getting away from the wall reserve currency. out of the dollar every last trade oil away from the dollar. to get out of the. dollar is going to lose value no matter what anybody says the treasury secretary trying to make it look like oh that's. because the u.s. dollar is a currency other countries recognize. that they're trying to escape. the world economy there is some kind of. on one hand. to isolate russia and shout it out from the global on the other hand this isolation that on the. ground a comic problems doesn't it in simple words if the financial cat

g.d.p. without oil and gas and now it is down to seven percent of the g.d.p. our goal for twenty nineteen is to go below six percent of the g.d.p. and we're really decreasing our dependence on oil and gas and we're taking that theory seriously. absolutely and so there are real actions that will have traduced tangible results in corby or something that absolutely. yes they are. going to we're going to take a short break right now where a lack will continue talking to the precious finance minister will talk more about cryptic currencies and precious and went on oil industry stay with us. turkey's decision to invade northern syria has foreign policy implications far beyond the middle east. objectives in syria the region. final peace settlement to syria's proxy civil war and future to. the all this getting away from the wall reserve currency. russia and china out of the dollar every last trade oil away from the dollar. to get out of the dollar so the dollar is going to lose about what everybody says the treasury secretary trying to make it look like. or what he sa

on saturday cost of earmarks ten years since it declared independence from now the economy is promising with g.d.p. expanding by just under four said twenty seventeen but europe's youngest countries also one of its poorest and is struggling with weak infrastructure and nowhere is this more of yes when you take a look at its power supply but at least that offers an opportunity to move to the latest technology and while companies hoping to lead the way. yeah how solar is possible is first photovoltaics factory high quality solar panels are made here they're designed for regions within ten sunlight like north africa and the middle east and while that might sound ideal for solar the desert heat is bad news for conventional panels their output is actually lower and they don't last long but not the panels made here we see the thirty year. life form of our products but for now kosovo is still coal powered it has vast deposits that could last for centuries. but coal burning comes at a price for one it's bad for health and about a quarter of the electricity that passes through kosovo's antiquated grid is l

tom: of course we can fold into it right now the economics of the nation in its phenomenal g.d.p. or three, four months ago and home depot with the animal spirit today. is that model within the crescent bleve there's an animal spirit we'll see revenues pick up. guest: that is part of the plan and what i call this upside opportunity and that is as our foreign trading partners like france and germany look at the u.s. and our new tax plan as rolling out the red carpet to business, there is a sense that perhaps they will roll out a red carpet to their business feeling threatened we could then attract some of those businesses here. om: let's go to a jack welch r edux. you believe in pricing power in corporations. if revenue is made up of union dynamics which wal-mart rakes out and price dynamics as well. jack: i do think companies are starting to regain some pricing power. of course we have these secular dynamics going on in the background with amazon really not caring about what their price is. but all in all, i think a lot of that has played out. of course they're going to roll in th

debt null and void let's do it max what do you say let's test m m m m c now what do you sell the fans at the highest at the g.d.p. they got the highest at two. versus you know their central bank oh ok canceling it now yeah well yeah and so all the grunt we're going to buy of all these bonds bonds cancel the debt very start with a clean slate let's do it let's go for it and i propose one more step was around why don't they just buy up all the debt of corporations to give in as are buying all these stocks will he know it as is what the swiss national bank yes by all max this is what mt sounds really can do i'm ready for a test well i made ok. to follow up on that the reason why the that the problem there is that these deaths have been re hypothecated and pledged against other assets in banks all over the world so cancelling japan's debt would in effect put the global economy into a freefall and it would immediately come to a grinding halt because of the fraud that happens on the set of now you know that max and i'm no ad a remark think that well this isn't about the m.m.t. thing or say oh yes isn't. this let's mil

profession of the wealthiest country in europe because of resources and there right now it's poorest country in europe to do what g.d.p. was because someone oligarchs whole hostages the entire wealth of the country and their whole goal so there i am there and they regard me as their main enemy so you say you are the enemy of the all agog and yet you quit as governor of the corruption ridden odessa region in southern ukraine after just eighteen months and twenty sixteen without really making any dent in reducing that corruption or going after that oligarchy and in fact back in georgia one of the main charges against you relates to massive embezzlement of public funds by you. or wait a minute let's go to george in charge not public funds but presidential office expresses the fact that they can fight any personal benefit from me no personal accounts no personal wealth which is extremely rare in this region where everybody still like everybody else and we were the only case where absolute president had zero i can with the same amount of wealth or whatever essence of left with the same ones i've never been reach and i'm no

now what are there risks involved here. this with. our internal debt which is really small little is only about fourteen percent of our g.d.p. if we look at other countries for example in europe it ranges from sixty percent to one hundred percent of g.d.p. from country to country in the united states exceeds one hundred percent of g.d.p. so russia's internal debt is not growing in relation to g.d.p. and that's what matters our goal is to have a state budget unaffected by oil price fluctuations or any sanctions what does that mean it means that our budget deficit should stay around the possible minimum and that we would generate the budget primarily from domestic investments so if we keep our budget deficit at the minimum. won't grow. internal and the projections for the next few years will stay within the range of fourteen to sixteen percent of g.d.p. so i cannot agree with you saying that internally that is cronus because it might be growing in terms of numbers more money but it's not growing in the relation to the g.d.p. . and there's also the you mentioned it before the russian diplomat succeeded in bringing a deal with s

would create a perpetual cycle of crisis and would spook investors now of particular concern to analysts are countries with a high debt to g.d.p. ratio with italy singled out as a particular cause for concern along with greece which is still pretty much a fiscal shambles almost ten years on from the two thousand and eight banking crisis. and tippi may be a matter of etiquette but it's also a matter of dollars and cents for our nation's lowest paid workers will learn a little bit more about the current controversy on tips and wages but first let's get some perspective i was in europe recently where a service fee on your restaurant tab is more common than fifty in south and central america the protocol varies widely though the major nation of brazil follows the european model of a service the typically ten percent in africa for example it's smart even thoughtful data for words if being in india failing to tip could cause a big scene and in china on the other hand it's generally a non tipping culture the bottom line is that many countries that are less wealthy than the united states still do a better job of guaranteeing service w

g.d.p. one of the things we're focused on is streamlining federal permitting and approval process that right noweatens to hold us back. i believe we have the votes and ability to get that done this year. that's going to have a big result for the american people. [applause] >> we've been talking a lot about what is happening within the united states and what the f.t.c. is doing for the environment, for the innovations in the united states. is there a role for the f.t.c. internationally that's important to work with? >> i think there is, absolutely. one part of it is just international leadershipful when it comes to 5g, for example, mays colleagues pointed out, we're not acting alone. other countries want to take the lead, want to win 5g because they perceive we won 4g. it's important when we go into multilateral, foreign, what not, we to the say, the american policy is this. we want to be forward-think, we don't want to benefit any particular company or sector, we want the marketplace to the side. the other thing is beyond 5g we have an important role in coordinating with our fellow agencies arn

decision out of indonesia, a of trade reports coming up but near term, about an hour now, the governor set to weak g.d.pport. have a look at dollar-yen, lows, 106 83. with whento contend speech. his ramy: looking ahead to asia pacific. meantime, some of the biggest fund managers in the u.s. are reporting on when they bought quarter.last bloomberg news investing reporter has been digging through reports. have hedge funds soured on the fangs here? were seeing this earlier and even more now. having cutbout co2 apple. it had been such a big supporter of the iphone x. also sold facebook. but we've seen new in the last hour reported point 72 cut facebook. we've seen google sellers, as well. maverick, appaloosa. so those are the real sour areas the tech world. you've seen twitter as a bright spot. know that green light bought in but also co2, glenview -- a of people seeing positivity in twitter. ramy: besides twitter, is there optimism in terms of tech stocks? or looking elsewhere that you're seeing? simone: i think people are really looking for tech to crack think we've necessarily seen that here, faang pessi

that i would point to the atlanta federal reserve that tends to, or the practice now of projecting the next quarter's g.d.p. i think the number they put forth last week or two weeks ago was a projection of 5.4% for the first quarter of this year. to governor sanford's point, there will be declines over the course of a 10-year window. but we also expect there will be times above 3%. these numbers that we put in the budget are averages. they are extraordinarily defensible. we think we have the policies critically to back them up and get us there. mr. renacci: i like you and my colleagues, including you, we were elected in 2010 with a mandate to reduce government spending to ensure our children and grandchildren aren't held with this debt crisis. right now we're on an unsustainable path. i appreciate what you're doing. i yield back. chairman womack: i thank the gentleman. mr. car ba hahl hal from california. mr. carbajal: thank you very much. thank you very much. thank you for being here today. thank you mr. renacci tacking on those bipartisan discussions. we try to have to see if we can find common ground wh

holiday in morocco and they certainly do their bit for the economy tourism now accounting for a tenth of the north african countries g.d.p. but increasingly it's the less mountains that adorn people to the country as they strap on my skis and test the pound. think of morocco and what likely comes to mind is heat not snow but the atlas mountains of hosted winter sports for decades entire country. last year saw record tourism numbers in morocco more than eleven million tourists spend about six point three billion euros that significantly more than in the previous year tourism plays an increasingly important role in the country's economy already accounting for a tenth of g.d.p. here in a friendlier national park with cedar forests and volcanic plateaus affluent americans maintain vacation homes among them the king and his subjects are just as excited to be here you know do that so we come with our children to enjoy the snow we've put on a lot of layers we don't want to freeze. clothing because it's so cold here that means winter cabin gloves. warm clothing there is a particular need for it this year both among moroccans and

g.d.p. grew two point two percent in twenty seventeen with analysts expected growth to accelerate in twenty eight. and our financial correspondent quanah who is in a joins us now good to see you con had a two point two percent growth is pretty good how much is this thanks to germany how much was it thanks to a general global recovery. well helen exports remain the backbone of our economy and sales to other countries were particularly strong during the fourth quarter of last year and here it's important to note that of course the super generous monetary policy of the central bank is playing a role here customers from other eurozone countries can afford to buy german products because they have to pay no interest on any loans but not only exports have been strong it has to be said that the excellent state of our labor market of employment here in germany has caused private households to become a much more important contributor to economic growth here in germany than it was in recent years where we've got a budget surplus of thirty six billion euros that is rather large couldn't germany actually be investing a bit more. well i would say a majority of economists he

so right about now some of you are probably going to believe when the stock market goes down and hurts productivity it hurts g.d.p well first of all average americans are not benefiting from the productivity gains in one hundred sixty eight the minimum wage was a dollar sixty according to the center for economic and policy research if the minimum wage had continued to move with average productivity after nine hundred sixty eight it would have reached twenty one dollars and seventy two cents per hour in two thousand and twelve in two thousand severus at seven average annual incomes of the top one percent of households were forty two times greater than the incomes of the bottom ninety percent up from fourteen times greater in one hundred seventy nine wall street stills more and more money and gives less and less to the bottom ninety percent who then fight over the scraps and we all start to hate each other for a while yes why did you get health care where. i don't get how can. you teach are good you ever done for society all right i voted for whoever taking health care away from the teachers that you are going to b

so right about now some of you are probably going to believe when the stock market goes down and hurts productivity it hurts g.d.p well first of all average americans are not benefiting from the productivity gains in one hundred sixty eight the minimum wage was a dollar sixty according to the center for economic and policy research if the minimum wage had continued to move with average productivity after nine hundred sixty eight it would have reached twenty one dollars and seventy two cents per hour in two thousand and twelve in two thousand severus at seven average annual incomes of the top one percent of households were forty two times greater than the incomes of the bottom ninety percent up from fourteen times greater in one hundred seventy nine wall street stills more and more money and gives less and less to the bottom ninety percent who then fight over the scraps and we all start to hate each other for a while yes why did you get health care where. i don't get how can. you teach are good you ever done for society all right i voted for whoever taking health care away from the teachers that you are going to b

now what are their risks involved here. our internal debt is really small little's only about fourteen percent of our g.d.p. if we look at other countries for example in europe it ranges from sixty percent to one hundred percent of g.d.p. from country to country. it's in the united states exceeds one hundred percent of g.d.p. so russia's internal debt is not growing in relation to g.d.p. and that's what matters our goal is to have a state budget unaffected by oil price fluctuations or any sanctions what does it mean it means that our budget deficit should stay around the possible minimum and that we would generate the budget primarily from domestic investments in bush so if we keep our budget deficit at the minimum. won't grow. our own internal and the projections for the next few years will stay within the range of fourteen to sixteen percent of g.d.p. .

in that period and it's now sitting at about twenty six percent now government debt has increased in the past five years the debt to g.d.p. ratio that fifty percent and there's also a revenue shortfall of about five billion dollars out of africa has also had difficulty with that investment rating downgrade much of it stemming from unpredicted policies or unpredictable policies and government decisions under the former president that at one point source of africa have three finance ministers in four days that was back in twenty sixteen so south africa as one of the largest economies in africa is now having to deal with boosting its investor and business business confidence at this point so from. one of the main things that we should look out for in the budget speech. well the africans will be watching this budget speech quite keenly we expect the government to perhaps outlined plans to plug that revenue governor spoke about and narrow the country's budget deficit the main challenge will be to increase revenue and reduce in expenditure to get that we're looking possibly at an increase in taxes with its value added tax inco

during the charity money going abroad and yet now that labor is an argument that the whole aid project so floored you do agree the point seven percent of our g.d.p. should be go going on foreign aid and we have to say that in this in the context of hundreds of thousands of people in this country not being able to eat today without the help of good basic perhaps and it would still be the case at no point five percent north point seven percent is the un saw great britain's thanks to david cameron let's remember reach that i'm a great supporter of that but why not grow giving money away if there's malnourished when we don't have any way we're actually investing it in the world it is even britain's interests why do thousands of africans pile up in libya trying to get to europe because of poverty it's actually margaret we have major war to destroy a little bit here. the drawbacks but overall it's easy in the interests of the western world to promote prosperity in the rest of the world just fine you know would you serve as the new charity commissioner of the present one reserves well there's no reason for the charity commission to resign that's not wh

now what are their risks involved here. with. our internal debt which is really small littles only about fourteen percent of our g.d.p. if we look at other countries for example in europe it ranges from sixty percent to one hundred percent of g.d.p. from country to country. in the united states exceeds one hundred percent of g.d.p. so russia's internal debt is not growing in relation to g.d.p. and that's what matters our goal is to have a state budget unaffected by oil price fluctuations or any sanctions what does it mean it means that our budget deficit should stay around the possible minimum and that we would generate the budget primarily from domestic investments so if we keep our budget deficit at the minimum are dead broke. internal and the projections for the next few years will stay within the range of fourteen to sixteen percent of g.d.p. so i cannot agree with you saying that internally that is cronus because it might be growing in terms of numbers more money but it's not growing in the relation to the g.d.p. . it's. there's also the you mentioned it before the russian diplomat and succeeded in bringing a dea

three and four percent in that period it's now sitting at just over twenty six percent of government debt has also increased in the past five years the debt to g.d.p. ratio is at fifty percent of there's also a revenue shortfall of about five billion dollars not africa also had difficulties with its investment rating that was downgraded mais only based mostly excuse me due to uncertain policies and also adjustments in the finance department where one point in twenty sixteen south africa had about three finance ministers in the space of about four days of africa now would have to deal with trying to boost investor as well as business confidence jane and ok talking of finance ministers one of the main points we can expect to come out of his speech. well malusi gigaba will be giving that address in just over an hour's time and i think the greatest concern is for government to outline plans to plug that revenue gap and also narrow the country's budget adit budget deficit the main challenge will be to increase revenue and reduce its expenditures or analysts are saying that in order to do that they're looking at a possible increase in value added tax as

now what are their risks involved here. you see our internal debt which is really small littles only about fourteen percent of our g.d.p. if we look at other countries for example in europe it ranges from sixty percent to one hundred percent of g.d.p. from country to country. it's in the united states exceeds one hundred percent of g.d.p. so russia's internal debt is not growing in relation to g.d.p. and that's what matters our goal is to have a state budget but we're unaffected by oil price fluctuations or any sanctions what does that mean it means that our budget deficit should stay around the possible minimum and that we would generate the budget primarily from domestic investments so if we keep our budget deficit at the minimum our debt won't grow. internal and the projections for the next few years will stay within the range of fourteen to sixteen percent of g.d.p. so i cannot agree with you saying that internally that is corona's because it might be growing in terms of numbers more money but it's not growing in the relation to the g.d.p. . it's. myself and there's also the oil you mentioned it before the russian d