and here to discuss help us dig into the data disaster and more is conservative commentator steve malzberg steve thank you for being with us as always what more do we know about this new password exposure well facebook says they discovered this issue in january and most of those affected use facebook light which apparently is used in countries where the connections are slower so hundreds of millions of those users are affected but they say only tens of millions only tens of millions of regular facebook and tens of thousands of instagram users are affected too so that's where we are and again you know as it could be another shoe to drop on this next week next month next year when they finally fess up and tell us the whole truth i don't know and it's also sort of like you know they never volunteer this it doesn't seem like it lisa it's like somebody leaks it and then they finally come forward so they've known about this for a couple of months and that's a little bit disheartening you know transparency should make them a little bit better i would think with all of these seemingly sort of endless pr

steve malzberg hey steve thank you for joining us talk a little bit about the latest announcements and the big names that have announced closings here this year so far. well as you mentioned last week amazon with their eighty seven pop up stores in malls across the country also and this is in the u.s. they're closing their stores also in. wal-mart and whole foods and they kohl's so that's that on top of everything else and boy has there been everything else you had the gap announcing that they're going to close over two hundred thirty stores over the next couple of years they are breaking into two companies as well old navy one and everything else all their other brands in the other victoria's secret fifty three stores to close abercrombie and fitch forty in addition to the thirty that they closed last year tesla which you mentioned the confusion with the showrooms first they said they were going to close all the hundred show rooms that they have and then they said some of it will stay open for informational purposes but the cars are going to go away so they're a little confused but the basically the one hundred showrooms are closing chico's women's clothing sixty to eighty stores j.c. penney nineteen stores plus nine home and furniture stores and then the big ones bart twenty five hundred from payless eight hundred from gymboree and charlotte roos five hundred those three are bankrupt caput in liquidation so that's what's going on basically in the industry and how does this compare i assume you know if we look at the last few years i assume that this is a lot more than we've seen in a recently. well two thousand and seventeen you had the record eighty one hundred thirty nine last year was down thirty percent and so far this year you mentioned fifty one sixty three but you have to look at the net to be fair and this is why no one's really panicking the net it's the stores that are open as opposed to the ones that close so the net with opens in two thousand and eighteen your last twenty four hundred fifty stores and so far this year with the stores that have announced openings you're down three five seven seven net loss so it's not the you know disaster there are stores opening and you have to take that to consideration i mean a lot of these stores steve they are a part paul parcel to these walls that are around i mean i don't know what's going to happen to be malls it doesn't just affect the store it affects the employee and expect it impacts all of these bacon season closing because i mean are we going to even have shopping malls in another decade from now where you know it's not the first time malls of suffered of course they took a hit when the commerce of broke out but then people went back consumer confidence went up gas got cheap but now it is suffering again although the vacancy rate was nine percent in the fourth quarter of zero eighteen that was up from eight point three percent a year ago so not horrific many stores are closing that are in strip malls so strip malls are now taking on nontraditional tenants like bowling alleys and planet fitness is taking advantage of this with gyms that they're opening up medical offices even some apartments in certain mall areas so you know and some digitally native brands feel they need t

commentator steve malzberg thank you steve. thank you bart. and there is an astounding appalling new revelation in the growing scandal at boeing over the seven thirty seven max jets and those two deadly crashes the new york times reports both of those two seven thirty seven maxes that crash one in indonesia one more recently in ethiopia did not have two specific safety features that could have helped counteract the software glitch which is believed to have led to both crashes the planes did not have the possibility and the possibly life saving technology because it was sold separately sold separately sounds like a toy right from the plane and it's problematic software as a special feature neither lion air nor ethiopian airlines opted to pay extra for the devices and there doesn't seem to have been any legal requirement for the airlines to buy them or for boeing to provide them boeing now says that they will install the additional safety devices as standard equipment on the seven thirty seven max jets i wondered if batteries are included. and m

want to talk at some other time steve about you know how this might impact intend on and microsoft will have to go off to talk about and so many of course steve malzberg conservative commentator what a fascinating discussion thank you great to see if my pleasure bar. and that's it for this time thank you for being on board with us we can you can always catch boom bust on you tube dot com boom bust our teeth catch a streaming twenty four seven on pluto t.v. that's the free t.v. at channel one thirty two that's it for this time c n x time so long for now. during the great depression which must remember there was most of the family were working kluge there wasn't it was bed you know much worse objectively today but there was an expectation of the things were going to get better. to push a real sense of hope. there isn't today to do these america was shaped by the ten principles of concentration of wealth and power. reduce democracy attacks on the doing engineer elections manufacture consent and other principles according to. one set of rules for the rich opposite. that's what happens when you put her into the. sector will switch will just did. to increas

steve malzberg joins to discuss hey steve we're so glad to have you on this and what an interesting and fun thing to talk about what do we know so far about google i know you haven't released anything but you've been digging around what do we know well tomorrow in san francisco of art they plan on making their big announcement i'm a gaming expert from a far by watching my son over many years set up his game box hooking it to the t.v. buying a game at a store and sitting down in front of the t.v. for hours playing that game well google is going to let users stream games to their own devices and you know smart phones laptops say or streaming box that connects to the t.v. if they wish and they're calling it cloud gaming so this could revolutionize just about everything in the gaming world well that is a differentiator for sure if you just go into google and you're getting it right right there and so obvious attribute but i mean how else might they distinguish themselves when you think about the big players there you think about. you think think about nintendo and. sony and microsoft i guess but i mean how will google other than that one thing which you mentioned going right from google's platform how else will they distinguish themselves to the eight hundred pound gorilla already in the space well they hope to reach a whole new audience because now like i said my son and everyone else will be able to just use any device and any screen all it takes is a phone a computer or a tablet and of course an internet connection no costly console like playstation or x. box no you know buy. a game of downloading a file to the console it all change according to google and experts are calling it kind of a netflix for video game streaming so that's that's going to be the appeal you know games on the go but i was talking to people here in the studio before i came on what are you talking about today and i described it to them they said really even now i could play games across in the street walk in and they sit in the car take in the train it opens up a whole new world. when you say it is reminds me of all these people you know back in the day playing candy crush walking across the street so about i get picked off by inadvertent drivers well let me ask you i mean some of these ideas have been tried before assuming a lot of upstart but will this differentiator in google just having that you know direct access to customers you think fettled make the difference. yeah absolutely you know this is this is been tried first of all google has actually provided a taste of this with their projects stream where where the games are they streamed assassin's creed odyssey on a web browser microsoft and amazon they're reportedly working on the same kind of game services microsoft has been selling game console for a long time and they're they're working on a game streaming platform and it's called x cloud similar to google's plan and for decades both microsoft and apple is on have used the cloud to run these games and there are reports out there part say amazon is building a cloud gaming service an in-house gaming studio that they have called new world which works on p.c.'s but could expand to streaming as well so it's a it's a competitive world out there you know i'm just thinking about it a little bit as you're explaining it i mean and i love your you'd be a great don draper in games on a good games on the go what a great advertising title steve but when you think about that differentiator being that they have immediate access to the clouds and every cloud and everything i mean i think there's a lot of people out there who say i don't want to be in the cloud only playing games in the cloud do you think there is a significant segment of people that might just say i'm not looking to store my games in the cloud or is that just something they probably are concerned about no i think this this is going to fascinate a lot of people you know some of the drawbacks that customers are going to need a very fast internet connection to stream these games the video is a g four service suggest speeds of fifty megabits per second for full h.d. quality google needs to make sure it's cloud service is able to react quickly enough google doesn't really have any games out there part that's a big problem sony microsoft nintendo they have a library there's no in-house content no you would talk about disney earlier. netflix's know we now scott that t

steve malzberg conservative t.v. and radio commentator steve let's get right into this what's the outlook for first of all southwest airlines i'll is it true they only that they only use boeing seven thirty seven max right now what does southwest has thirty four boeing seven thirty seven max is the biggest exposure of any airline but still less than five percent of its total fleet so that five days a week gone by it was that about the fifty one dollars or forty two cents a share near the close today was back up to fifty one forty so but over the past month southwest. is down about ten percent now city today warned that southwest might lower its outlook due to the grounding of the planes and they also have an unusually high number of planes already out of service management is blaming that on the mechanics union and by the way the mechanics union is in a very contentious negotiation at this very moment with southwest so that's that's where they are right now also this sphere that to fill seats on replacement flights they might have to go below premium prices to fill those seats so that's why they're looking at all this or looking at southwest along those lines right now definitely no uncomfortable situation there in southwest losing five percent of your fleet that's still still a big crimp in your logistical operations now what about american airlines now a day or two after that crash union leaders for american airlines mechanics and flight attendants called for the grounding of the some thirty seven max since then what's been going on with american and their union and those and those discussions on safety well american that we should point out has twenty four of the affected planes so a little less than southwest but still a significant number for the week they're down slightly to about thirty two dollars a share but down nine percent over the last month analysts do expect of by the way a ninety six percent rise in profits in the upcoming year from one point four billion last year to about two point eight by two thousand and twenty so you know there's not really a problem with the unions that because the unions eventually thanks to the administration issuing that order did get what they wanted to so those planes of course are grounded it's interesting in this situation similar to the government shutdown when we saw some we started to see some impact on flight safety the actor really at the end of the the shutdown to an end arguably was the. the some of the airline staff unions and in this case again we see perhaps a similar dynamic with the unions obviously they're very interested in their members their member safety on these airlines but turning to another company united tends to not make as much news as these others that we've just discussed what how is united airlines weathering this scandal while united has just fourteen we keep going down they have just fourteen of the boeing seven thirty seven max planes and it too is recovered most of its losses for the week you know it hit everybody on tuesday dipped significantly on wednesday when trump announced the grounding of the planes but it was a eighty to ninety one to start the week it's eighty one fifty before the close today but it's down about again like most of these airlines are down over the month this one down about eight percent although united top their earnings that revenue in the fourth quarter they had a ten point five billion in revenue and any p.s. of two point two dollars or forty one cents compared to an expected one ninety nine so they're sitting in you know in pretty good shape as far as that goes very interesting and we so we've covered the airlines beginning back to the manufacturer here in this case boeing what are they doing the black box for the some thirty seven is has been recovered is being reviewed by youth ortiz and the company you know there's differing news out there and exactly how boeing is going to come out of this whether it's going to be dire scenario where there were the whether they could somehow really just somehow skate through this what's your take steve well boeing was up as much as three percent today for a little while on news that they will be rolling out this new software fix to try to fix the problem with the seven thirty seven's that will become within the next ten days but they also said there's no indication how long it will take to be proven effective enough to get the planes back in the air it closed up about one point five percent around three seventy nine that down five percent for the week bank of america said that this. new fix could take three to six months so who knows what kind of effect that would have on the stock which is down by the way over ten percent for the month and so again a lot of wildcards in how long it takes for this software to be implemented and will it be effective and who is going to be the first one to try it out in the air i mean i would want to be on that plane. very interesting you know. people are very familiar with getting software updates perhaps on the operating system on their computers so

consulting both boris rashard and conservative commentator steve malzberg whelp and both of you steve i want to start with you to some of the commentators there yeah one hundred eighty thousand to twenty two hundred. number unexpected. very unexpected the consensus was one hundred eighty thousand and said they get twenty thousand which is the lowest number since september of two thousand and seventeen and this is coming off of december should say january with over three hundred thousand and december with over two hundred twenty thousand so to see that twenty thousand there are very good numbers and just some of the demographics for instance you have for overall for whites unemployment ticked down for hispanics tick down to the lowest ever for them again and for men in general also ticked down the other demographics take slightly up or remain constant larry kudlow you alluded to earlier the president's economic adviser called it a fluke many of calling it an aberration i should point out though when they say the weather the last five february's the numbers have beaten expectations so i

steve malzberg welcome both of you and steve i want to start with you this really is unexpected right i mean i was listening this morning to some of the commentators there yeah one hundred eighty thousand to twenty two hundred and when twenty thousand came out there are jobs all sort of drop of that and that number unexpected. very unexpected the consensus was one hundred eighty thousand and said they get twenty thousand which is the lowest number since september of two thousand and seventeen and this is coming off of december should say january with over three hundred thousand and december with over two hundred twenty thousand so to see that twenty thousand number there was kind of shocking but when you look into the report as well we're going to be doing here there are very good numbers and just some of the demographics for instance you have for overall for whites unemployment ticked down for hispanics tick down to the lowest ever for them again and for men in general also ticked down the other demographics to slightly upward remain constant larry kudlow where you alluded to earlier the president's economic adviser called it a fluke many of calling it an aberration i should point out though when they say the weather the last five february's the numbers have beaten expectations so it's always cold and snowy in february and i don't know if you could use the weather based on those that fact i just gave you good points boris i mean you know this was a big drop but even with only twenty thousand in february the three month moving average is still one eighty six hundred eighty six thousand and that includes by the way steve talked about december and january those numbers are both revised up by twelve thousand in total so boris how big a deal is this or is steve right that you know in the bigger scheme of things maybe there's not that huge thing i think this is something definitely to watch on the one hand it could be just a payback to the very strong number. for january and i agree with you that. the average is still pretty strong you know hundred eighty six thousand we're talking about of the three months however each so and clearly some of the factors could be just a temporary factors that lead to the you know strong and sharp decline and it could explain the just twenty thousand. but again you know it is definitely like the shutdown boris or other other things you're thinking of temporary factors like the shutdown or a temporary shut weather i think the weather and the bad weather that happened in favor of could could have had some impact on the number for the february and again if you look the weakne

and joining us now is the one and only steve malzberg out of new york city steve always a pleasure having you on donald men no one to hold them no one to fold them is kind of. that old song ring in my ears first and foremost obvious question on everyone's mind is how will this move by in your opinion affect future talks between the u.s. and north korea is this back for you know better relations or is this just kind of a bump in the road we're going to still see this move forward. well great to be with both of you as always i think it's a little more than a bump in the road because after donald trump left the country. if the dollar trump left the country the the north koreans held a press conference the foreign minister blaming donald trump and saying we didn't ask for all the sanctions to be lifted as donald trump said we did in fact he said we only asked for some of the same trades to be lifted in return for us closing down our biggest nuclear facility and he also said as far as the future summit goes we may not be changing our position this could be our position so it was a very unusual

steve malzberg and commodity trader tina rein welcome to you both we're pleased that you back steve let's start with you a what exactly did the senator propose. well you know that also you could add apple to that list she would have to choose between building apps and having the app store just about every democratic presidential candidate you know is has criticized these of big tech companies basically for privacy reasons but she's gone far and above she has a two part plant one legislatively if you're a company making more than twenty five billion dollars worldwide and you offer an online marketplace the participant on that platform amazon would have to separate from the marketplace google from their ad search and google search setter and she what exactly is issue of whatsapp an instagram and amazon's acquisition of whole foods so she has a two pronged plan and you know how would how receptive anybody would be i don't know but that's our plan. if we consider the market share of search engines worldwide google certainly owns the space outright ninety percent being yahoo the others aren't even really competitors but tina you've been pretty harsh on holding the big tech companies feet to the fire what do you make of the proposal and what do you expect with regard to and i trust the experts of this. so far some of our i like to say you know i don't think it's a partisan issue this is something that actually they did some a survey last year and fifty seven percent of democrats and forty four percent of republicans said you know we need to look at the some have some regulation around and if you look at the issue it's not what is true capitalism capitalism is innovation competition and privacy and i understand you know steve's comment about privacy that is an issue that really kind of looking up a lot of what about the competition is this really a competitive marketplace i mean look at amazon they actually take products from amazon marketplace and they recreate those products and they brand them as their own and then now they're competing against their competitors that they have on their. and online marketplace this pushes the smaller guys out and also in terms of innovation i mean when these companies get so big there's no room for innovation if you look at speaking of antitrust if you look at microsoft back in the one nine hundred ninety s. the antitrust suit from microsoft apart and that's really what allowed innovative companies like google like facebook to emerge so this really stifles innovation when these companies get so big that they can control the space also just in terms of innovation v.c. funding for tech startups has now essentially tried up and that's because they know the big companies are g

get a good deal does steve that does include all those things like in or like school property we spoke about earlier. the first one to give him a big round of applause steve malzberg and peter schiff what a fun discussion thank you both guys appreciate it thank you for here. and we now go to hong kong where the economy has really been on a roll i mean people have heard about it for years right but but now there is an unexpected upstart artie's branch of bor has an exciting in an unusual economic move which has been made by a neighboring city the city of shien's zen and i always love stories about drones i'm told brant as drones. in two thousand and eighty in the chinese city of shenzhen in the ground dung province has seen its economy surpassed that of their southern neighbor hong kong for the first time ever last year hong kong is economy grew by just three percent with a two point eight five trillion hong kong dollar gross domestic product walsh engines g.d.p. grew by seven point six percent rising by two point four two trillion hong kong dollars while hong kong has long been a free wheeling capitalistic society its northern neighbor has not just forty years ago