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tv   Boom Bust  RT  November 22, 2018 8:30am-9:01am EST

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and in other news on the continuing impact of trade conflicts on the global economy the organization for economic cooperation and development has lowered their growth projections for twenty nineteen citing trade tensions as a significant source of downside risk to global investment jobs and living standards the o.e.c.d. says estimate for global g.d.p. growth next year was adjusted down to three point five percent from three point seven percent just two months ago and understood by clear language the o.e.c.d. signaled growth is likely to wane over the next two years finding that quote investment and trade growth have proved softer than it just a baited financial market conditions have tightened and confidence has continued to ease boy that's a political statement while growth has been improving in the past two years particularly in asia the paris based analysis also downgraded forecast for china for this year and through twenty twenty when the o.e.c.d.
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now expects flat growth at six percent in china and turning back to the united states the hits from the trade fight keep on coming as grain stocks pile up and rot there rotting for lack of chinese buyers the bottleneck is now reportedly pushing up prices for grain storage and some u.s. farmers have found that it's simply better to plow their harvest under the least costly choice for many of them in the state of louisiana as much as fifteen percent of this year's oil seed crop will be plowed under or otherwise disposed off due to the demand drop off as well as saw the growing season that damaged much of the yield according to the agriculture department. and moving to the mediterranean the european commission has responded to a talian defiance on the twenty one thousand budget issues by pursuing an excessive debt procedure and a.d.p. we've told you about before against the wobbly nation led by adding. creasing
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league factious kolisch and government sanctions under the g.d.p. could include among other painful punishments fines of as much as point two percent of g.d.p. prime minister goosestep a conti of the five star movement and deputy prime minister material salvini of the far right league made a defiant show of unity for both coalition partners valent to push forward with their current budget plans. last week molly barrows joined us and told us about the president about president donald trump's regional administrator for the southeast region of the environmental protection agency who was indicted he was indicted for crying out loud on ethics related charge and that fellow has fortunately resigned from his government post unfortunately there may be other sequels in this story is not the only instance of
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those with involving protecting the environment seem to be not doing their jobs for more we're joined by tyson close slocum of public citizen tongue tied there tyson sorry about it welcome back and first can we get your take on trade glenn the fellow who was indicted and has now i fortunately for my perspective resigned from the trump of ministrations e.p.a. yeah so it's part of this long running investigation down in alabama where a bunch of lobbyists and lawyers for a coal company colluded with regulators to try and get this coal company out from under this pollution enforcement case it's netted a bunch of other lobbyists and lawyers and now it's got trade glenn and you know the thing is is you know this individual was put into this position to basically run the e.p.a. in a south. stern us states. by the former e.p.a.
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administrator scott pruitt who really emphasized putting lobbyists and other folks from industry in dick he enforcement positions at the e.p.a. and that was exactly what this southeast administrator who was just indicted that was his background his background was working as a lobbyist for industry and so it's really not that much of a shock when lobbyists for industry and up getting indicted. even you know tyson i mean you've watched this over the years that i haven't and i know a lot of boom busters around the world have. when you it's one thing to say we're going to put some industry people in here and they're either going to be you know the foxes guarding the chicken house that happens it stinks no good hate it argue against it thank gosh there's people like you who fight against it but not properly vetting people people who are involved in criminal acts that takes it to another
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level and these folks have to actually be approved by the u.s. senate which brings us to andrew wheeler he's selected as scott pruitt's replacement at the p.a. where is that and what do we know about mr pruitt right so mr andrew wheeler. trump installed him as the number two at e.p.a. back in two thousand and seventeen so he was the deputy administrator and after scott pruitt was forced to resign in july of two thousand eight hundred to scrapes andrew weil or ascended to become the acting administrator and just last week. the president trump nominated wheeler to be. you know to be to formally be the full time administrator and so andrew wheeler before he became deputy administrator he was a lobbyist and we have been monitoring mr wheeler's activities for quite some time
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there are documents showing that he was the one that was being paid by murray energy who c.e.o. is bob murray one of the largest private coal companies in the country that has had an outsized influence over trumpet ministration policy this is the company that was pushing to rewrite america's energy markets in order to favor an economic coal fired power plants this key meeting that happened in march two thousand and seventeen. where bob murray got to meet face to face with secretary of energy rick perry the e-mails that we've gotten all show that the meeting was arranged and set up and attended by andrew wheeler who was then the lobbyist who was representing bob murray and so that's just one of many examples of the kind of influence that andrew wheeler had over the trumpet ministration and now he's he's you know running
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the e.p.a. and so the question is is the senate going to do its job of effective oversight and unfortunately with republicans in control of the senate the same party as the trumpet administration they've shown no appetite whatsoever for effective oversight but with the democrats taking over the house we've got significant pledges particularly by representative frank pallone who is the incoming chairman of the house energy and commerce committee he's going to be pursuing aggressive oversight and so even though the house of representatives under a constitution doesn't play a direct role in reviewing or consenting to appointees i think you're going to see some really strong oversight by the house that might influence that senate confirmation process we sure hope so and we hope to come back to talk about environmental policies and how it's impacting business going to next
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year tyson slocum of public citizen thanks so much for your time expertise tyson see later you got it. with those horrific fires in california many people whose homes were lost are now struggling to deal with insurance companies for a closer look at the root realities here's our t. correspondent the touch of sweet well here you can see about half of this mobile home park was destroyed by the wealthy fire and now building back what they lost isn't necessarily as easy is just finally an insurance claim. dusty into the rubble years of memories now in shambles the past eleven days have been surreal amy here are ten said her husband woke up in the middle of the night packed a few things and clapped their two kids and for animals it was nearly impossible to grab everything with sentimental value i don't have wedding photos i can't reproduce those i don't have some of the baby's earliest i can't reproduce that i mean there's physical items that we just appreciate artwork that we can't you know
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replace well george chester also lost his whom he had better luck when it came to finding things near and dear to his heart found a watch it belonged to my dad an old pocket watch he was given when he went into the army air corps and was a navigator in world war two. and largely intact so i have that memory of him both harrington and chester say once they can they plan to rebuild in their same community they've planted to come back all absolutely we've lost a lot in in california in larger cities this is a community my mailman knows me because i always actually rebuilding here everyone is we love it here is the best neighborhood but it'll take more than just time even with insurance the costs quickly add up those of us with a mortgage or carrying our mortgage paying our homeowner's dues and homes that don't exist then we have to pay that off before we start over insurance alone doesn't always cover as much as policyholders believe they're initially signing up for according to all states personal property such as jewelry may not even be
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covered in your plan so additional coverage is needed for those types of items in his statements amy bock executive director of united policyholders said all those commercials about insurance companies offering peace of mind when things like this happen those are just as she goes on to say in reality insurance policies are written by teams of lawyers and it can be rough for homeowners nearly ninety percent of homeowners have fire coverage and forty percent of renters have some type of coverage for their belongings. however some insurance companies are refusing to give coverage to those who live in high risk areas for their acts the state of california has the california fair plan the state sponsored program gives these homeowners coverage and offers up to one point five million dollars for both the structure and its contents which is nice expression for those who would not otherwise be covered but housing in the state of california itself is expensive so this program can't always bring full relief to its policyholders and many third
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parties are trying to step in to help if you are having problems with your insurance they give his people the information how to do it well fema is offering some aid many are turning to go fund me to make up for what they believe insurance won't cover chester coaches a serious cyclist and says they also created a go fund me page for him as well and i've had sixteen year old. young people text me message me call me in sept oct my parents you can come stay with us and for harrington she's trying to hold an entire new outlook i'm trying to let go of attachment to things i've been a lifelong collector so i think now i'm going to try to be a minimalist i've lost but it's a total refer patients now insurance companies advise taking video of belongings before disaster does strike and if you do have to evacuate you are of course encouraged to save those receipts and or health suites r.t.
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. for those pictures are so horrific we thanked atocha time now for a quick break but hang here because when we return alex my hyla big joins us to look at the new cooperation and coordination between china and the philippines and birthday of thanksgiving in the united states more than forty four million people will tune in to watch the largest tirade ever the macy's thanksgiving day parade trinity charges takes us to the iconic macy's in the heart of new york city plus facebook is founder. and we take a longer look at the company headed into next year with the c.e.o. of strong market reform which and here are the numbers at the closing bell markets seem to have at least stabilized at least for now from the last two big down days we'll be back in a what. fracking
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gave americans a lot of job opportunities i needed to come up here to make some money i could make twenty five thousand dollars as a teacher or i could meet fifty thousand dollars a year trucks or chose to drive truck people rushed to a small town in north dakota was an unemployment rate of zero percent like gold rush is very very similar. but this beautiful story ended with pollution and devastation a lot of people have left here i don't know too many people here in the slowdown so much they lost jobs that laid off the american dream is changing that's not what it used to be. and it's a tough reality and. the russian military deteriorated terribly at the end of the soviet union and russia
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was always going to rebuild its military the question is how can we the united states and russia construct a relationship where we are both confident of the intentions for more confident of the intentions of the other so that we're not worried it's not that we shouldn't. but it we should make sure that our counterparts understand why we have it and when and where we would use. nobody could see coming that false confessions would that profile in the spot placed before the converged books had any interrogations out there what you'll see is threat promise threat promise threat lie a lie a lie the process of interrogation is designed to put people in just that frame of mind make the most comfortable make them want to get out and don't take no for an
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answer don't accept their denials she said if i would cooperate so i stated that i would be home by that time the next day there's a culture on accountability and police officers know that they can engage in misconduct that has nothing to do with all the crime. join me every thursday on the alex simon show and i'll be speaking to guests of the world of politics small business i'm show business i'll see you then. welcome back new allegations of economic intrigue are increasing tensions between australia and china australia's channel nine and print subsidiary the sydney morning herald have reported business in australia as well as us britain canada and
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new zealand have been targets of intellectual property theft directed by china's ministry of state security the effort directed at the five nations the so-called five eyes group with close intelligence links was reportedly dubbed operation cloud hopper australian officials say china stepped up corporate cyber spying this year despite a twenty seventeen bilateral agreement to refrain from efforts to steal intellectual property. and similar valuable information chinese officials as you may expect deny the allegations. and we told you last time about the new cooperation and coordination between china and the philippines well as part of that effort chinese investment in the philippines is on the rise one of the latest project is a two billion dollar conversion of a former u.s. air base with the latest we're joined by our chief alex mahela bitch in toronto hey
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alex so what can you tell us about construction on its clark air force base right that's the old air force base that's right clark air force base and if you know anything about clark i mean that's a pretty good place to take a assignment like this or a development to the check out the map here so clark itself clark air base is right next to the city of i'm helis which is about one point five hours north of manila now this place is already highly developed when the americans were there that air base was that they did it the way it's supposed to be so around the air base itself if you're driving around the highways look like you're in the states everything about it actually looks like you're in the states the second you hit that area around the airbase so people there are actually call it clark as as in a city more than as the air base itself and that that area right now there's a clark international airport that airport works as sort of a secondary airport after the one in manila simply because the amount of traffic in
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manila so a lot of people make the drive up to clark to take flights out of there it's also a special economic zone and you get this the other special economic zone is also a four bar u.s. base the naval base at subic bay so it gives you sort of a picture of what clark is really all about i mean it's already highly developed so the chinese have picked the spot to put another two billion dollars of investments into another company's called goes a group it's a construction engineering company out of china they see the opportunity here it's going to be probably one of the biggest chinese invest. it's in the philippines itself and they hope to develop five hundred hectares of land there they want to make it into a trio attack slash manufacturing a lot of that's ready going on but it really needs to be boosted up according to what the president the target of the philippines wants he's looking at this investment this as a part of his build build build program which is pretty much a good one hundred eighty billion dollars in investments up to you the year two thousand and twenty two when he hopes to have infrastructure reach new heights in
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the philippines and china i mean this is a pretty much an easy thing for them to do it's an easy fit there's a large chinese population in the philippines already and there's a lot of money being invested but noah has more cranes than any other city in asia right now up there building like crazy and property values have skyrocketed in the past decade. alex we appreciate your time and attention to this article respondent alex mahela it's thanks alex thank you. and thursday is thanksgiving in the united states and more than forty four million people will tune in to watch the world's largest parade the macy's thanksgiving day parade artie's trinity chavez takes us to the iconic macy's in the heart of new york city and tells us about the celebrated company for a hundred and sixty years that macy's has been one of the most iconic retailers in the world not to mention the paper thanksgiving day parade that the company has been putting on since nineteen twenty four in fact tomorrow will mark the ninety
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second annual thanksgiving day parade and it's going to take place right here and we're going to be balloons like the one just right behind me that mountain snow man right above the macy's time oh and we can't forget about that famous red on the present star macy's is known for we're going to take you back in time to show you exactly why i mean scenes has been so significant progress century and a half founded back in eight hundred fifty eight by roland has seen macy no one would have guessed that the company would grow to be one of the largest retailers in the. world with the launch of our h. macy and co macy adopted the red star as a symbol of his success macy's generated a total of eleven dollars and six cents and its first day of sales but by the end of its full year sales rose to approximately eighty five thousand dollars and by one nine hundred seventy seven r.h. macy in co had become a full fledged department store more to nineteen o two and outgrew its location on sixth avenue on the corner of fourteenth street
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and moved right here to the herald square location and then one thousand nine hundred twenty four it expanded so much it covered this entire city block and it was mean to the world's largest store with over a million square feet and retail space. by one nine hundred eighteen macy's was generating thirty six million dollars in annual sales then in one thousand nine hundred two the company went public and began opening regional stores to take on competing retailers to celebrate the company's success two weeks before things giving macy's then president hubert strauss announced that the company would host a parade for the city the parade was such a success macy's announced within a week that every year on thanksgiving morning the parade would be back tomorrow this parade will feature floats and balloons representing some major companies like netflix delta airlines and mcdonald's and just like the parade the company's earnings have also been going strong as for how the company is doing nowadays well third quarter earnings per share exuded expectations of fourteen cents per share at
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twenty seven cents per share on revenues of five point four billion dollars same store sales were up three point three percent versus the experts expectations of two point eight percent growth this marks the fourth straight quarter of gains for the company and a good way to start off the holiday season on a solid footing the online sales for macy's also continues to grow double digits making it thirty seven straight quarters of double digit growth online from a.b.c.'s historically macy's became a public company back in one nine hundred. the five when the stock started trading at ten dollars per share since then the stock traded at a high of around seventy dollars per share back in two thousand and fifteen and for the last year the stock has been trading in a range between forty dollars per share and twenty dollars with trading now around thirty three dollars the long celebrated company continues to grow strong and on things given day the name maisie's is said to be spoken of more often than any
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other retailer reporting from macy's in the heart of new york trinity thomas r.t. . and facebook is spatially one heck of a year they had that cambridge analytical scandal we told you about and now they're facing this massive issue regarding the hiring of a public relations firm to discredit their critics using some bridie dirty means now sheryl sandberg the chief operating officer of facebook is under the gun for the whole mess and despite some people calling for mark zuckerberg to step down as chairman he said that's not happening what is the future for facebook joining us now is the c.e.o. of straw mark and friend of the show hillary ford which hilary thanks for being with us what i didn't mention is that the facebook stock has been down and down and down for the last year over year for twelve months for six months for the last week i think maybe i looked a little bit earlier was trading up two bucks today but it is not been a rosy ride for the company what's your take on it and what do you think about this
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p.r. firm situation yes i say about the public affairs for the finest public affair as i think the saddest thing about it bought actually is that both sheryl samberg mogs the book they additionally blamed their communications team and one thing a leader must always do is own up to their decisions they were either in the know or they weren't either way they lose if you're in the know they should have made that decision if they want to know and then to blame the communications department it is significantly impacted morale and that is something that is pervasive. with inside facebook recently and i think that was a bad mistake on their part. and what should sheryl sheryl sandberg do i mean sometimes you know in these circumstances your shareholders the board they're looking for a sacrificial lamb should she step down or should mr zuckerberg release relinquishes cherami to a well first of all he can fire himself and he has most of the easier the person who can find stuff and he owns most of the stock he's actually turned to bill gates
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and asked his advice as to what he should do a bill gates of course at microsoft brought in brad smith to run the actual operation so my advice and always to all global leaders is scale your business the same way the business is being scaled in terms of growth scale the leadership that same way so what's happening is the leadership has not been scaled in the same way bought they need to bring in extra no managers with external expertise so if they were to scale the leadership the same way they have the business you would have seen now a plethora of external expertise brought in and that's what they haven't done and they need to do i don't necessary things look a book needs to go let's take an example that's a little bit sad like apple with steve jobs is no longer around but i phone tens of sitting on the shelves everywhere and they really haven't had innovation one thing mark zuckerberg has said he's going to do he said this on anonymous call earlier on in the year he was reading twenty five books a year learning how to speak mandarin he declared but now he's at war and he is going to fix the problems of facebook i think when he not cools down and faces all
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the mistakes and actually stops working on them actually hires external expertise as every single leader should do then it will be better as the shells on both no one should go out when they're down she needs to go out on a high if she does go out she has plenty of opportunities thought she was previously i'm in politics on capitol hill she could go back to the political arena she could have office everywhere don't forget she's the only real significant female executive leader there is in the entire tech industry so she has the right to stay there and she should stay there i think until she fixes things and not until then she leaves. hilary ford with the c.e.o. of stroke mark hillary thank you for your time have a great thanksgiving about thank you. and that's it for this time thanks for being with us you can catch boom bust at youtube dot com slash boom bust r.t. so long for now.
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what politicians to do something to. put themselves on the line they did accept it or reject it. so when you want to be president and should. want to be. the two going to be press it's like the three of them or people that i'm interested always in the water. sit. down with. a dolly is what. we got garrett over here we care the music with us.
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we were dragged here. by us going to get rid of those who are not go away we will not die quiet. real the hard work we do is the truth. so what we've got to do is identify the threats that we have it's crazy. foundation let it be an arms race is all off and spearing dramatic development only closely i'm going to resist i don't see how that strategy will be successful very critical time to sit down and talk.
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i'm going to please go camp sundown to get for people that can't decide and they're like so vampires. this is like a safe house i guess they don't have to talk about what they go through with us because we understand her daughter katie was diagnosed with a very rare son sensitive condition if i get sunburned i heal she does or she'll patients when they have problems with the walk to talk to some the brains that are actually shrinking inside there the still gets thicker in the brands get smaller. the pain is indescribable it's feels like a really really bad chemical burn but it goes through your skin in your muscles all the way down to the bone and there's no relief. fund so we're just not sure this is going to discover.
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they don't just. use the words have the cards for them differently than those which may have been present which we we agree with i. think there is no point in my find when you create a home office after a government report details think you already fail or is that could have prevented a string of terror attacks that.


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