according to. the francis is broadcasting around the world from washington d.c. tonight american icon ford motor company is that's produced its electric cars in china and numerous others are following suit also the european union is taking a hard look at buyers sixty six billion dollars takeover of months on so it calls into question the fairness of competition over pesticides and my guest weighs in on president trump's new plans for afghanistan we explore the economic implications standby starts right now.

lockheed martin has just snapped up a four hundred twenty seven million dollars contract to supply the u.s. military's f. thirty five joint strike fighter aircraft with pilots flight equipment and ancillary military equipment the f. thirty five program has been mired in budgeting problems and technical issues in recent years and has suffered public criticism by president donald trump for its cost overruns this is on the back of a massive deal struck in february when the pentagon agreed to pay lockheed martin eight point five billion dollars for ninety f. thirty five that's a cut rate deal in the face of the president's criticism and public backlash in january news emerged that the program was delayed and would cost taxpayers five hundred million more dollars than expected the f.

thirty five program budget hit four hundred billion dollars that's nearly double its original cost over the course of fifteen years this new deal is said to be wrapped up by december two thousand and twenty. monday night president donald trump laid out his strategy for the seventeen year old war in afghanistan and said the security threats are immense as a result despite years of calling for pulling out of the country he now says he has a secret afghanistan afghanistan strategy which will include an attack here to discuss the policy the political and market impact as well of the president's speech last night as former u.s. trading commissioner bart chilton barr thank you so much always a joy to have you sit at this table with me and break down the issues this really was a completely different donald trump on afghanistan anyway from candidate trump or even private citizen trump if we go back to two thousand and twelve take

a listen to what he had to say on this. conditions on the ground not arbitrary timetables will guide our strategy from now on america's enemies must never know our plans or believe they can wait us out i will not say when we are going to attack but attack we will. ok quick ating on things is new for this president but does this show he's maturing in office or is that just too much to help right now i'm not sure about maturing in office lindsey i think it's pretty obvious that he is listening to the generals not only john kelly his chief of staff but the general but master at national security council and former general now secretary jim madison the department of defense i think they have more influence and rightly so i'm glad they're there and i think afghanistan is just a typical thing that you're seeing what you will see more and more of going forward

the generals have a louder voice in the administration with all the shake up that's been going on there during the last. you know eleven days we've seen a lot of the president himself has taken some incoming fire a lot from members of his own party over as comments regarding charlotte's fell into new polling fact six in ten people say they're embarrassed of the president's remarks around in charlottesville president last standing in representing our values do you think i think it's certainly for a lot of us you know that we question what he says and some of this i wonder is it a little bit of you know the dog where remember that one nine hundred ninety seven movie lindsay where they tried to create a diversion for some bad stuff that was going on with the president by creating a fake or in albania well you know i think there might be a little bit of that going on now where he's had really arguably the worst week ever last week or worst twelve if it's possible but it was

a nadir in my view and. this shifts the debate and shift the topic from charlottesville and and i'm not saying that these are important national security issues they are in the president did a good job last night but that doesn't mean that we shouldn't be suspect of the timing and i for one given charlottesville and suspect ok i have a impact of these key economic policy proposals he's put forward tax reform as little as as we got from that infrastructure improvements do you think last night you know makes that. well given more traction on capitol hill i guess is what i'm saying it may not have anything to do with us to mastic issues but will something like that given the little more traction especially with that is that the party well i think that's the hope that this is sort of a minor reboot of the presidency and this is only the second time lindsay that the president's actually spoken to the american people one was that joint session of congress back in january where he did so very well and people like me said this

shows that he can be a good president but then we've seen all this other you know mishmash going on through several months last night was another presidential performance by mr trump i think the question is whether or not he can follow that up and so far he's been want not to follow up with are staying on message and it's hurt himself on the things that you're asking about tax reform infrastructure and coming up we have not only the spending bills and the fiscal year in the u.s. the government fiscal year runs out at the end of september that's fast approaching and second we have the debt ceiling which will need to be increased and whether or not this this thing on afghanistan propels him to more popularity on capitol hill much less in the general populous remains to be seen i wouldn't hold my breath on a lot of his sort of going forward getting done in the near future though ok so shifting from capitol hill to the markets they've been on

a tear this month is one of the worst a long time do you. i think that last night's speech. is going to sort of have an effect on that going forward we've seen ups and downs massively everything was elected well you know we saw all these you know record breaking highs and we even had a high earlier this month but this is on track to be a pretty bad month the worst months since october you can still pull it out and i'm hopeful it does but i think there's a sort of a bubble lucius euphoria i've been calling it in my speeches that's been there in markets because of tax reform and infrastructure and i think that's waning i think it started waning with charlottesville and whether or not markets continue will have to to grow we'll see it was nice for a little bit of a rebound today the dow closed at one ninety six both nasdaq and the s. and p. five hundred were up today so that's good nasdaq at three down days in a row so there are some positive signals bright but again we'll have to wait and see i think that there was a dip people were selling off in the last ten or twelve days and people are buying

that dip as they do and they've made a little bit of money but whether or not it continues i think will in large part to pend upon what the president does in the coming days markets don't like dysfunction in washington right so their military presence in afghanistan you know maybe it could mean something significant for the markets if you know defense spending and then therefore contracts and elderly lindsey to interject real quickly there are joint us south korean military exercises in the south china sea the right week and so there's a possibility that could raise unintended conflicts so everything sort of a little bit sketchy at this point ok last question before we go real quick going forward side president giving a speech in arizona it's been a debacle so far just setting this thing up what are your predictions for what we're going to hear and what might general john kelly face as his chief of staff he will say something not really nice about the incumbent senator jeff flake who opposed him early on in the primary and he may say something that does show this

whole thing that he did yes. it was so good i have to wait and see the mayor the mayor there did not want him to come but he's coming there are protesters out on both sides so we'll wait for a few hours and see and then we'll wait and see the tweet war after that thank you so much former u.s. attorney commissioner part chilton thanks as always for joining us. the iconic american automaker ford motor company is such a joint forces with privately owned chinese auto maker is a tie the automobile company there in china it's aimed at developing and manufacturing electric cars in that country now china has pushed way past the united states in two thousand and sixteen as the leading market for electric vehicles those highs auto electric vehicles saw a fifty six percent jump to sixteen thousand in sales so far this year that's compared to the same time period in two thousand and sixteen ford said it expects china's market for all electrics and hybrids to grow to six million units per year

by two thousand and twenty five volvo is set to join the club with plans for chinese manufacturing of its electric cars which will it says be ready for the showroom floor within two years and then nissan general motors and volkswagen have made similar announcements. time now for a quick break stick around though when we get back my guest weighs in on the libre scandal that has facing giants in the hot seat and monsanto environ have an uphill battle as they try to tie up a massive deal in the european union as we go to break check out the numbers in the .

and book a good little place called a police a key to keep. the lights out. so for. them to commit they're going to write. so. much with such force they did on the phone to dodge michael for what he said i feel we should i should think most wonderful thank you for such. things. i max keiser one for my guide to financial survival this is as fun it's

a device used by professional scallywags to earn money. that's right these hedge funds are simply not accountable and we're just adding more and more to the. totally destabilize the global economy you need to protect yourself and get informed skies or. the play station network which powers sony's play station four video game has allegedly been hacked according to the hackers. a group named our mine claims to have breached the p.s.n. system infiltrated the database and stolen user information is representative of our mind says it obtained user names names and emails and that it is

a security group so it won't actually release the information if something experts have seen many times before groups get famous with a big hack then turn and get hired by big corporations to protect them from hackers so many social media accounts were taken over and then quickly retaken but the company hasn't yet issued a statement and who can forget that cataclysmic sony hack back in two thousand and fourteen unreleased movies were leaked along with explosive corporate e-mails and chaos was unleashed expenses connected to that had cost sony upward of forty one million dollars. usually when we talk about the block chain it's because the values of bitcoin and other crypto currencies are making headlines but this time around it has to do with major u.s. food companies and retailers nestle unit lever and a handful of others plan on joining i.b.m.

to block chain project to track supply chains and improve safety instead of relying on a third party it would allow companies to use a network of computers to record important data the announcement was made in a statement on tuesday which said that ten companies will begin sharing this data with i.b.m. the program though has skeptics but it also has many success stories and example wal-mart which has worked with i.b.m. since october it said it narrowed the time it took to trace the movement of its mango stock from nearly seven days to two point two seconds. almost a year ago buyer announced its multi-billion dollar takeover of monsanto but the deal remains under scrutiny in the european union where might not go through after all who must be out to fish is here with more on that for us now bianka that's a big thing that you use worried about it's taken

a hard look what's it got going on so the e.u. is worried about competition in the crop sciences sector and if it were to go through it would basically become the biggest part of buyers entire business operation if buyer is able to go through with the takeover of monsanto it would create the largest seeds and pesticides company in the entire world that's according to legislators in the european union which are fairly concerned about competition and a statement on tuesday the european commission said the commission has pulmonary concerns of the proposed acquisition could reduce competition in a number of different markets resulting in higher prices lower quality less choice and less innovation in response to that the germany based buyer issued a statement saying buyer looks forward to continuing to work constructively with the commission with a view to obtaining the commission's approval while it throws another wrench into buyers plan the commission's latest statement doesn't come as a surprise in fact plenty of other companies in the agro chemical sector have had

to make some sacrifices to finalize deals dow was only able to acquire dupont after promising to sell research and other assets and kemp china had to sell off parts of a subsidiary and some of its businesses to get the commissions approval to take over syngenta in order to get the blessing of south african regulators buyer offered to sell its liberty crop chemical and seed that resists its plant killing effect so far it hasn't done much to impress some of the deals biggest critics like environ. activists afraid of how it could impact farmers and consumers however the commission has made it clear it will be reviewing the deal only from a competition perspective and won't be debating other potential facts but that doesn't mean buyer won't have to face those critics especially in the us or monsanto is busy taking on a global health organisation. let's talk about the sponsor a story which organization is it actually going out they are going after the world

health organization yeah so in two thousand and fifteen who released a study that said round up which is one of monsanto's we'd killing products could cause cancer and as you can imagine it was caused a lot of problems for monsanto it became the basis of a lot of lawsuits against the company and in california they had to start adding labels on their products out specifically said this could lead to different types of cancer so since then you know that was two years ago now there have been many organizations in the u.s. and in the e.u. that have just missed the study but that hasn't been enough for them so they created their own study that they say debunks the one from who and they would like to be investigated by the u.s. and you know come out with a formal apology specifically stating that it does not cause cancer ok now back to the deal it's trying to go through is it just the e.u. that's issuing i want to say a review of a review almost of this deal where it's oh it's the evil that is conducting this

study but they're basically working with counterparts from many other countries australia brazil canada south africa and also the u.s. and there's a pretty big emphasis on the u.s. they are at earlier in the summer a group of senators wrote to the justice department saying that they would like the justice department to conduct a review of the deal as well and expressed concern about trump's meeting with c.e.o.'s from both companies fort lee after he was inaugurated so they have a lot of concerns about any sort of influence coming from the white house or if it's going to be easier for them because of connections that they made have all right thank you so much boom bust down for that. the u.s. government has a number of the u.k.'s biggest banks rigged libre rates the daily measure showing the interest rate at which banks can lend to one another. for a lawsuit brought by the federal deposit insurance corporation the high court

claims that each bank defendant had a common financial and profit based incentive to collude to lowball us dollar live or submissions and in turn to cause us to live or to be lower than it otherwise would have been this in turn increased profits now the f.b.i. see which bailed out a number of these affected banks during the financial crisis points the finger u.k. giants including barclays lloyds banking group and royal bank of scotland the claim is on behalf of thirty nine american banks it's part of a much broader rigging scandal which came to light back in two thousand and twelve joining me now from london steve kean the author of can we avoid another financial crisis and the world's first crowd funded economist at page trend dot com steve thanks for joining me now let's talk about this case do you think the u.s. government actually has a solid case here. or has a rock solid because this is the question because of collusion and market

manipulation and the email trial is so blatant you might as well just go into the court and say lay down was there were guilty what's the follow on. that's that's frightening but let's look at what a lot of people are asking which is essentially who says and enforces the rules live or where was the oversight in this panel this is a huge scandal. well the problem is that if you look at a lot of our actually came from the actual concept of using it as a by sustaining interest rights for both mainly profit bonds but also some government bonds around the world is that libel was seen as being the world's broadest market for the buying and reselling of bombs on the basic reason behind that was that the conventional economic theory says that banks have to have reserves to lend when a deposit that goes from one banker that moves reserves that forces the banks to have to borrow reserves from each other which they prefer doing the borrowing

directly from the bank of england and that they will get a picture of an extremely large market with lots and lots of transactions that is all a myth and it's now being cited by the by the central banks of the world events the idea that banks need reserves lend is a complete myth and consequently what it means is that the amount of lending that actually goes on borrowing or of reserves from one through each other and and buying bonds of each other to have sufficient reserves and so on is quite trivial in fact and one of the markets linked to the setting of the label right i think there is something about twitter less than twenty five transactions over an entire year now of course in that situation it's very easy to manipulate the market rather than being extremely broad lots of transactions and therefore impossible to fix it's one of the narrowest markets in the world and very easy to fix and that's what the english banks have been caught red handed doing ok well the case has been made that instead of doing away with that we should just actually change the composition in the calculation that instead of saying that there are enough observable market

rates that could indicate how much a pound or dollar cost to borrow do you think we can actually rework. or is the risk of this manipulation at you as you pointed out just too great. i think it's too great i mean label it spice on the model of transactions on a model of lending which is false so if you make buys any real world system on a fallacy it's bound to blow up in your face and sun that's how it's happened this time around. the whole idea that there is some market said right of interest is itself problematic and then that's yet that's we've got to go arguing all the economists supply and demand curves into sicking supply and demand set the process that whole vision of how financial markets operate is completely false and the economist of belief is what they call a natural right of interest again this is based on a model called learnable funds which says that this is a supply of money created by people saving and the interest right the that is there

isn't a demand in the interest rate is the lower that demand is and bang or each equilibrium . in it's a total myth so we have to do something which actually acknowledges the real world situation and that is twofold one that the level of interest writes is driven by the level of debt the ha the level of profit that the lower the strikes can actually sustainably bay and then what those rights saw are set by central banks but the trouble of course the central banks are now talking about setting negative rights so the whole idea of having the right set of the label becomes if you made a decision right said over the average right of federal central banks around the world it could will still be negative and nobody well nobody selling bonds wants but he wants to have a negative right of return on those bonds so it is really going to be a big mess and the best situation may will be just take an average of rights on bonds around the world and try to buy shit to some extent on the average brit to

use labor i think does dies or ok let's talk about this acknowledgment that you referenced. failed to citi group and company as tom hayes here we thieves more than fourteen year. years in prison for his part in the scandal famously said the bank did not engage in low balling quote to the best of my knowledge and quote so given the scope of this scandal how likely is it that top players these banks didn't know what their company was doing. i think that i mean the extent to which the financial sector has got away with blue murder in the financial process is quite remarkable so i'm not about to. finally make the the day the time meant but you know we had think one person when joe could see of the two thousand and eight process where as bill black who ran the prosecutions back in the sidings in the lunch process which is a follow a skull event compared to the financial process of two thousand and eight bill

reckons he put three hundred people behind us and we just don't have regulators with bowls like bill blackberries these guys so the lock to get away with it anyway but this is the whole problem we we have people who are in control of the not just the management of money but the actual creation of it and can make a large amounts of money by manipulating those rights and we're expecting him to be trustworthy the temptation is just too great not to. do you think anyone's going to actually serve time based on this. this is rock solid case as you point out and now i know. oh it's possible i mean some of those a miles or so outrageously blyton what would you like the right to be would you lock it up would you lock it down i mean it is absolutely is the satellite down is there guys of of market manipulation so the possibility is some of those people will go to jail but the really likelihood is it will be low level people rather than people at the top and we're seeing a similar thing happening in australia right now i mean there's been an outrageous

kies of of the struggle in the major strand bank the commonwealth bank being involved the money laundering and turning a blind dog hundreds of billions of dollars worth of probably fraudulent transactions and the outcome of it is have been a twenty percent cut in the bonus for the chief executive and he's going to retire in a year's time during which time he learns something like about fifty to one hundred times the last time the ending of an average the struggle we simply cannot punish the financial sector at the level unless they end up going that the behavior will continue right the heads will roll but be nice if the big dogs thank you so much steve kean author of can we avoid another financial crisis and the world's first crowd funded economist at patriot dot com thank you. what do you usually well look for in a partner do you like a rugged good looks or the guy who always makes you laugh maybe she's the girl with the prettiest eyes or maybe you should be rocking a high credit score instead two thousand online daters were surveyed and sixty nine

percent agreed that if your rocking a high credit score you basically had the most important quality it beat out humor attractiveness ambition courage and modesty fifty eight percent even agreed it was more appealing than a flashy car there's a bit of research that supports this too apparently in a two thousand and fifteen paper. researchers analyzed more than fifteen years of new york federal reserve data and found that if you had a higher credit score you were more likely to form a long term relationship with someone someone of a similar credit score so yes love really is a numbers game after all that's all for now from all of us here thanks for watching see you next time.

but. the relationship between kids sure it was suggested. and a fairly strong one there were two tells. involved in the study it's a very extensive study done by a well respected scientists. do chemicals that the advertising. really increase the risk of cancer. damage in the launch. of skepticism. that step. this is his truth by independent scientists and in the meat industry did you for this i received some compensation for my time as was the others why is that the meat lobby definitely didn't like

what we were doing and if you want to learn more you'll get a definite on the flood of you. do not. think. this is big business against health. as a starter. in safety. they put themselves on the line big get accepted or rejected. so when you want to be president and. want to. have to go right to be close with what will before three of them or can't be good. interested in the water. pressure. the two thousand and eight economic crisis turns some countries into pigs these are the countries with we can recall

them is that needed austerity policies if you are in a situation no flow gloat even the recession austerity is a very bad idea it doesn't work it makes millions of people very unhappy those who are unemployed see their wages decline almost a decade how good are the results she saw all of the new york city's will by the people of english the water all good people with your daughter june. the beautiful blue she was i mean to for legal. aid she somehow they're not getting paid while the same mission is still in place. one of the consequences is to weaken labor slowly dismantle the welfare state. this is the truth the consider is that the consequences are actually

quite acceptable as a decision made. on . the jury be told by the coalition it was very clear that they would no insurgents in the area the un expressed his deep concern over the mounting civilian death toll in the syrian city of run after coalition.