tv Boom Bust RT November 17, 2018 8:30am-9:01am EST
conservative t.v. and radio commentator steve walz burg welcome to you both in a perfect policy circumstance where you were the queen and could decide what the next u.s. congress would do related to business and our economy what sort of things would queen jeannie be working upon. oh i like being queen thank you so much for it i mean. i love it you know i think the biggest thing that i would be working on the economy is very very strong right now and i think the thing that troubles me the most is this sort of divide between the booming economy that we see on wall street and sort of the absence of the impact of that on main street and this detachment many americans feel particularly in the working and middle class from the boom that is the economy right now and so you look at some of the polls two thirds of americans say that the economy is really strong but us but only a third say that they are getting the positive impact of that so in a perfect world i think i i would want to address some of those and these are some
of the things that the president talked about on the campaign trail and democrats have actually said they support although i'm not sure they're going to go for it but things like a middle class tax cut and an infrastructure package to start out with i think would be two big things that should be on the agenda as we go forward into the new congress you know i like to as cui jian that that's what they said you'd rather not agenda now so do you not going to you know w. ping steve at least some of the time being but let's talk about what reality might be you know now that the congress is split the democrats obviously will control the u.s. house of representatives beginning in january and that will last of course we all know over for two years and the u.s. senate continues to be controlled by republicans so with the reality of a split congress steep which are the potential policies that maybe change and actually have a chance of being approved that would help business and our economy. well i agree
with everything that was already discussed with the queen i think that certainly infrastructure would be would be good and i also think that a more of a middle class tax cut would be good but look the president said i could work with the democrats in the congress but i'm not going to work with them if they're going to investigate me and we can get to that later all they're going to do is investigate him so that but that aside there's different ways forward that the vision in the senate and the house would be much different on infrastructure the president proposed two hundred billion federal aid and and the rest of the one point five trillion state local and private business the democrats don't buy into that and when it comes to tax cuts you know the president said sure i would raise the corporate tax rate in exchange for a middle class tax cut he might have said that i don't think that's going to sit too well with larry kudlow and the other advisers in the white house and many republicans so i just don't see it happening especially as we lead up basically everybody is going to start running now for two thousand and twenty i think you're
unfortunately unfortunately right but genie you know let's think about because i agree with you what he said in the campaign and what actually took place in the tax bill wasn't necessarily you know exactly the same and so we still talking about yes there's going to be another thing even a couple of weeks before the election and we could get it done real fast i mean just not reality but i'm curious when you both have talked about infrastructure and genie that is not really a partisan issue i mean i worked on the hill i know this stuff it's more about whether or not you have lots of roads and not a lot of attack space so something like a gas tax i mean even if you just had a couple of pennies on the gas tax heck the price of oil we talk about all the time moves up and down is that one area you think might have some hope for progress genie. you know i really wish that i could say yes but i think steve is absolutely right we have a real problem on our hands which is not just
a divided congress but also the fact that everybody is thinking about twenty twenty and so you know i think the real challenge here is how do you bring these two sides together and you're absolutely right if there's any issue that they should be able to agree on it's infrastructure we're both you know we're all three in the excel accord or with the infrastructure is falling apart around us that impacts you regardless of whether you're conservative or liberal democrat or republican we do really really badly to compete in the world economy need to keep up with countries like china whose investments in infrastructure are absolutely astounding and impressive and yet our congress cannot get together to do that and i fear that next year is not going to be much better on that front and i think the real challenge here is that some of the stimulus we saw as a result of the tax cut that happened last year is going to keep up but slow down a little bit in twenty nineteen and then slow down further in two thousand and twenty unless congress acts in
a concerted manner and unfortunately i don't think there's the political will to do that and so i fear that's going to be a big challenge for all of us going forward into two thousand and twenty. i hope you're not right but you may be hey steve let me ask you you mentioned investigation and the democrats talk about doing eighty five different investigations i know you're not in a habit of giving democrats advice but what's your take on it. well first of all what by the way we might have a government shutdown over whether or not they put a bill out to protect mahler and over the wall and dhaka so that we might not even have a government to to negotiate but you know the democrats have said they're going to go she gave everything that the incoming head of the intelligence committee in the house said every committee is going to investigate trump they're going to want to tax returns they're going to want to see his business dealings jared cushion his business dealings they're going to want to know about the firing of sessions in the firing of komi the hurricane in puerto rico the port there the hurricane really they're going to investigate everything you could think of and i think that's
a i mean good for republicans but i think that's a big mistake for democrats we're out of time here we have to leave it there i couldn't agree with you more steve i think that a boy democrats have a way of shooting themselves in the foot if you give them a gun thank you so much jesus a and i am going to make you king for the weekend steve malzberg thank you wolf your majesty is appreciated. and it's time for our global weekly market round up and we start as we usually do in russia at the moscow stock exchange which was down and in shanghai also up this week it was off last week also let me tell us a little bit there was news today out of washington commerce secretary wilbur ross really downplayed expectations on that meeting we've told you about in boyd as far as argentina coming up at the end of the month between chinese president xi and donald trump sort of setting the bar low we call that in the government political
world a deliverable that they don't want to have to have a deliverable ready we'll have to see how that goes but markets didn't hear that news because that came out this morning in the market in shanghai and. we're closed same with the nikkei over here that which was down and the hang seng by the way was up today and down in australia the a.s.x. one hundred with their down and they were up last week moving over to mombasa the bombay stock exchange index a sense actually off and all shares down in south africa in cape town was down and moving to the e.u. boy is this been a week for the e.u. sort of messed up all of them are down the cac the dax and the footsie one hundred the auto sector has had a tough time in the e.u. but really the story is all about as we've been talking about all week actually brecht's that and there's new news out today a new brecht secretary a member of part of member of parliament stephen barclay was named as the new
bracks that secretary replacing dominic rob we told you about that he left over the withdraw brecht that deal yesterday so these markets are all taking a real pummelled down and i think what traders are probably doing is just trying to either be flat right not to be exposed either way or just to get out of their positions because who the heck knows. what might happen on monday what might the news be i will tell you we will tell you on monday and going to south america to the cold tap in colombia the index down and then the eyeball vast but in brazil the largest economy there and you know we've talked about the president elect hardball so narrow there and he has actually picked a conservative sandton their bank in brazil named a banker as the central bank chief his name is roberto campos nato and the markets seem to be ok with with that news just out today and moving to toronto to toronto ixtoc exchange they're down on the week and new york stock exchange down as is
nasdaq both n.y.s.e. and nasdaq down and that's your global weekly market round up. time now for a quick break but hang here because when we return our chief charlotte dubinsky joins us from paris to look at tariffs and why it's a story with legs wind legs i'll tell you more and what technology gives will be under the christmas tree this year resident tech played host to the big picture here on r.g.p. america holland course will tell us as we go to break here are the daily u.s. stock numbers as the oil and gas in the truck at the closing bell we will be back in a flash. reserve
bank unable to contact c yes this is at the center of america's descent into financial armageddon yes can you blame the fed for such things as the infrastructure collapse across america the ecological collapse that's heading going to california wildfires and hurricanes across the nation and a busted pipes in detroit leading our state poising and love yes yes you can because they give money to the bad people. it's hard to imagine decades after the war a nazi don't tour was still active rich in the nineteen seventies cretonne had as the chair of its board a man convicted of mass murder and slavery and ash was a german company growing untold develops a little mind a drug that was promoted as completely safe even during pregnancy it turned out to
have terrible side effects what has happened to my baby is anything paul you know she said he's just got choked arms minix a little mind victims who have to this day received no compensation they never apologized for the suffering they. not only want the money i want the revenge. of those. dollars. the dollar dollar is what are the. we got carried away here we cure the music with us. we are here we were dragged here. by you are going to get rid of those who will not go away we will not die quiet.
welcome back facebook c.e.o. mark zuckerberg and chief operating officer sheryl sandberg are taking fire from advertisers after an article portrayed them as disengaged and unaware of key responses to recent scandals among other revelations the new york times reports facebook and listed the anti-defamation league to tag critics as anti-semitic while paying republican campaign veteran tim miller of the firm definers public affairs to link facebook's critics to billionaire george soros a favorite target of an eye semites on social media mr zuckerberg now says he and mr ms sandberg only learned of the link of the definers in the times his attempt to defend seem to actually confirm his disengagement from matters that now threaten facebook's future. mexican president elect andres manuel lopez obrador on law has offered an olive branch to his critics and business class by appointing
eight business men yes they are all men business men. to a business advisory council in an online video on lo said we need the support of the business sector so that there is investment in so we can create jobs but while no reached out the mexican central bank seemed to fire a warning shot raising interest rates by a quarter point to eight percent citing concerns about the incoming president's policy proposals that said experts had expected interest rate increase due to the volatility of the peso. and we now head to paris and archie charlotte dubinsky to not only talks tariffs and wine but her story has legs as i said earlier related to a blind taste test used conducted here charlotte there's one thing the french known to be sniffy about it they're worrying for them
a little full say is part of the essence of the nation and as one of the world's largest produces with up to eight billion bottles being produced every year it's also pretty good for the french economy last year export sales reached almost thirteen billion dollars so total trump fired a warning shot at the industry over unfair trade practices the french took umbrage . yes it did a cousin of them yesterday it was on him for thirteen we were to commemorate in the assassination of one hundred thirty of our community thirty three years ago in paris i think in the and so on i will reply in english common decency dissent would have been appropriate to the middle. trump is unhappy with the disparity between tariffs placed the wine exported from france to the us committed to the one from the us being exported to france the us charges up to fourteen cents per bottle but
tariffs in the european union can mean more than doubles outs at twenty nine cents a bottle some are now wondering whether trump's tweets a preamble to a trade war just like the one with china trump also suggested that if those tariffs on u.s. one were lower more people here would be picking up a bottle of say california and read something from bordeaux you know i have a serious tense about bats but in the spirit of fairness we thought we'd let parisians be the only real chance. to vote for sale. live on the no. reduced resentful scene where things go. if you don't do. the whole thing coming.
i would say our group. would be. that close. to the big city mosul a bit. we. don't hear very much. and i think. a little bit of both. in the wake of the. bank which. can do all good the parisians overwhelmingly preferred wine for us in our blind taste test well i'm sure. but perhaps trump is owned to something and it could also be that the president is hoping that by taking a tougher stance on wine tariffs it will be just businesses closer to home
including for his son who owns a winery saltiness you crazy don't sell it the boom bust in paris. we now head to the holidays and talk tech gifting to do so we are joined by my esteemed colleague and host of the big picture right here in our dear merican our in-house tact alan holland cook holland welcome always good to be here commish ok so let's talk about what are they working on at the north pole and how do you know we know because each year at this time the consumer technology association does a massive research project on what we want to see under the tree and it's a really big deal and it's very predictive every year they seem to nail it oh wow well good we'll see if they do so when we talk about tech stocks and tech in general they had a couple of years really gangbusters and they lost most of the gains this year in the past five six weeks which was crazy but what are they going to be bailed out at
this with the gift giving this time of year the numbers are impressive because even during the gaps of the great recession this was a solid category and it is forecast to be up three point four percent the holiday tech spend estimated to beat ninety six point one billion dollars last year you're right it was actually down three percent techie nerd aficionados and amigos tell me it's obvious things the four k. t.v.'s have come down in price dramatically this year so a lot of people were waiting it's very predictable this stuff starts out pricey and then the prices go through the floor i've just bought a couple of t.v.'s at one of the big boxes and hundreds less than it would have been even a year ago and we were awaiting. a new i phone so those may be some of the reasons why twenty seventeen was anomaly i hope your family didn't just get the signal for what their gift is under the tree because that's actually my next question don't
keep us waiting what are going to be the tech ticket items under the tree this year according to the consumer technology association research that these are the top five and there is actually a tie for number five because this data is that granular we want believe it or not a desktop computer i guess we're replacing all the old big boxes we used to have and somewhat surprising tied for number five is any type of camera this was also the number five gift last year and why that is surprising is because we're all walking around with a camera in our pocket in that thing we used to call a phone and every time the new phone comes out there are bigger megapixel cameras in there and it takes great pictures and if you ask any photographer what's the best camera you know what they'll say my phone the one you have with you you know still we are buying digital cameras so that's the tie for number five number four
on the countdown i kind of feel like casey when there. is a smart watch saying it sent it out to omaha it up one slot from number five last year the number for gifts smart watch and as you've reported apple's first iteration of the i watch was off to a slow start to the extent that they didn't break out separate revenue numbers for they buried in the big number and more recently we have reported here when they rolled out the new one with more bells and whistles so that is forecast to do better this year we have a tie for the number three the president we'd like to see under the tree last year's number two smartphones and tablet computers have been scolded by friends in the tech industry not to short handed as i pad you know which has become like kleenex or scotch you know who generic term but there are some great android tablets too. number two notebook or laptop computers was number one last year i
don't even have a desktop because they're getting smaller smarter cheaper and lighter and you know how much i travel on the lonesome road every ounce is a pound and they get beat up a bit so the with the natural wear and tear i'm going to replace one every year and you know some of this on the list hall and some of these might be merged you know we did a story not too long ago about how they are making tablets it really phones that can unfold your into a tablet so your phone may be a tablet in the future maybe the same same category next time this year and some of these laptops you can detach the screen or switch it around and fold it over and use a tablet like so you're right there blurring together and now if you have a fanfare if you have a temporary role the number one item i. was tied for number one last year and owns it this year it is t.v. sets for the aforementioned reason the prices have plummeted the pictures are great
and we no longer just use them to watch what broadcasters local stations and networks are serving up in real time we are now binge watching amazon hulu etc so t.v.'s are going to be big physically as the prices get small now you turned me and all the boom busters onto a term not long ago show rooming and i want you to explain it briefly again but then you said just before we went to air here about another one omni shopping i still don't know what you know what are these things and are people going to be using these venues or whatever they are showing all of a season but the brain of the brick and mortars existence because you still want to get out and about and feel the hustle on holiday bustle and i do it on black friday i want to go to the mall and feel it and to touch and feel the things i'm thinking of putting. in stockings and under trees and then you go online and buy it somewhere cheaper and i will confess i've done this i've stood in the aisle at the
store and i found out a couple of bucks cheaper somewhere else so this show rooming is something that retailers are coping with and one of the ways they're coping with it is this delivery meaning they're throwing spaghetti against the wall you can order online pick up at the store something jeff bezos is now putting in whole foods and you can order online and have it delivered amazon is sending out treasure trucks full of popular gifts and this christmas season in macy's there are going to be facebook pop up stores don't so they're trying everything in every way to get you into the store virtual or brick and mortar and to get merchant out to you the way you want it should be a big shopping season we'll be following it here we thank you so much on cookoff to the big picture here in our t.v. america and our tech talent thank you sir one week till black friday gobble gobble
we'll have you back to talk about it thank you. and that's it for this time you can always catch boom bust on direct t.v. channel three twenty one dish network channel two weighty or streaming all the time twenty wards twenty four seven on pluto t.v. that's the free t.v. app you can get it channel one thirty two or as always you can hit us up at youtube dot com slash boom bust r t c n x time have a great weekend so long for now. the russians and. the chico to mourn the beach. host for a team you'll be set it's not that it's indeed some shots that always shooting against. what i'm.
beautiful to go see if i circle included. a little bit i was going to have been skiing to show. for what you need to shelly's. in the us but then the south korean users tell them the t m forty summed up. the money i took of the british mr west imo sure but. it's hard to imagine decades after the war a nazi doctor was still active rich in the nineteen seventies gruntal had as the
chair of its board a man convicted of mass murder and slavery at auschwitz a german company gruntal develops in the divide a drug that was promoted as completely safe even during pregnancy and it turned out to have terrible side effects what has happened to my baby is anything ball you know she said she's just cut short arms minix a little mind victims i have to this day received no compensation they never apologized for the suffering that not only want the money i want the revenge. i would normally get manufactured consent instead of public wealth. when the ruling classes project themselves. in the final merry go round. certainly the one percent.
we can all middle of the room six. billion. really. i don't think the democrats are much mode in the go shape with the republicans or president so i think people are going to have to acknowledge that the united states over the next couple years is going to be consumed even more so by our internal our total bickering in affairs. of the systems to simply fulfill. my milk or something and the syria. role is going to say of course a business with the mustard so it looks. this is an english.
i don't think i'm going to get that. at least forty seven people are injured in scuffles with police in frances dies in sprite tests nationwide against fuel prices but has an impact the price of diesel spikes we've had enough here too many taxes has never stopped rising if the street has broken the come back micro in his buddies just like those before him ascending things from. the ten second failed his first step toward it with hundreds of millions of dollars not needed to fix the.