tv Boom Bust RT January 22, 2019 5:30am-6:01am EST
to a hollywood t.v. producer it was an eclectic get a lecture group of people all that directly had but first we had some advice let's go. darkening prospects for the world economy lead our global report today as the international monetary fund once again downgrades its forecast for a world in twenty nineteen i.m.f. researchers now say they expect the global economy to grow at a rate of three point five percent this year that is the second downward determination by the i.m.f. last summer they expected twenty one thousand to grow four tenths of a percent higher at three point nine percent a familiar litany of slowdown reports especially in europe are likely causes for the adjustment though the i.m.f. forecasts for growth in the u.s. and china are notably unchanged since the last i.m.f. review which occurred in october i.m.f. managing director christine lagarde characterized latest economic indicators earlier today and the bottom line is not off to two years of solid expansion the
world economy is growing most slowly than expected and risks are rising. does that mean that a global recession is around the corner no. but the risk of a shop a decline in global growth. has certainly increased. to this. yeah uncertainty the geopolitical where is and disappointing long term growth prospect and you have an economic pitch with a pretty clear message. and another disconcerting data point has been added to that litany of disappointing growth numbers as china post its worst growth bigger in almost thirty years china's economy grew by six point six percent overall and twenty eight thousand according to the chinese bureau of statistics that announced figure which most other nations of the world would envy is for china the lowest
growth rate since one thousand nine hundred ninety you may recall that the chinese economy had been growing in the range of seven to eight percent from two thousand and twelve to twenty fourteen the new statistics suggest that china which by some measures as already surpassed the u.s. as the world's largest economy may not be able to lift the world's economy as demand legs elsewhere this year. and here take a closer look at economies and markets our friends danielle shay of simpler trading and conservative commentator steve malzberg welcome guys thanks for being with us again steve let's start with you in the u.s. you know it's been two years and one day since donald trump took over what was already a growing economy and it really continued going to greater heights but now many are questioning if it will or can continue steve what's your take. well one day you and i will sit down have a great debate over how effective the obama recovery was but that's beside the
point yeah i look i mean g.d.p. in the second quarter of two thousand and eighteen was four point two percent and in the third quarter as you well know went down to three point four percent where's it going to be come come the fourth quarter report you know with the with the government shutdown and everything else however having said that that's still a good number and so are the unemployment numbers as you know record low unemployment the lowest since one nine hundred sixty one when you talk of a sixty nine when you talk about three point seven percent every ethnic group blacks hispanics asian americans lowest in history were reaches well five million jobs you also have us now producing more oil than ever before we're the largest producer of crude oil in the world thanks to donald trump and getting rid of. regulations that weren't conducive to that speaking of regulations and he also got rid of. his had a t p p got a set of nafta renegotiated nafta he got
a set of some of dodd frank signed legislation making it easy on community banks so things are firing a pretty good of course china and the government shutdown and the mala report are all the pediment the road ahead we'll see where it leads and that's a good synopsis of biased i think in some parts there but you got some of that. but i get to steve and look i agree i mean a lot of those things were absolutely good in the president may have helped what he certainly didn't do any harm the one might be on the trade stuff and maybe we'll talk about that a little bit more but the books still on written on that right danielle last time you were here i think you said that you could see another rally coming my question to you is one what would be the circumstances which would sort of set the table for such a rally and two are we talking about a short lived rally or something that might exist for several months. so what i'm
looking for is is honestly it's going to come back to this earnings season so last week the banks started reporting earnings it was very strong very positive overall which sent stocks skyrocketing higher this week and next week especially are going to be critical in the market because when we have our key companies coming out and reporting earnings if those earnings reports are going to remain strong i do think that that can send the market skyrocketing higher because of the amount of fear and because of the amount of volatility that we saw all throughout november and december but that doesn't necessarily mean that it's going to be a a longer term rally i mean what i think we're looking at is an incredibly volatile market and especially if you look at the price action that happened in november and december this is a very emotional based algo based trading and i think that we have to understand that the market environment is completely different now than it was really back in
two thousand and eight and while we can see incredible spikes based on earnings season we can also see sell offs that come very rapidly due to this algo based trading and let me ask you did you know because you know i've said that i think it's the q one earnings that will really be telltale and we've seen you know the airlines are down we talked about a couple of some of the retailers steve we spoke about that q one will be after you know the trade war is really sort of more full fledged and boy if this shutdown steve referred to earlier continues you know people are saying it could be zero growth so it really could be a big downer if things go south right now it seems teetering right you know. yes i think it's absolutely teetering and you know i think that a lot of the effects that we're going to see from the terror for us from china's economic slowdown. and especially from the government shutdown i think that people aren't really realizing how impactful this is to the overall economy and so for
example last week people were looking at the stock market saying hey the stock markets rallying but the government's on a shutdown it must not be a big deal well it is in fact a big deal it just may not hit for a while you have people not getting paid people cannot pay for their mortgages and you have a situation in this economy right now where we have the highest level of consumer debt that we have seen we have student loans we have housing loans we have car loans and you know that bubble is going to burst eventually it might not be right now but potentially later on this year or next year it can absolutely happen you know it will top it doesn't hey steve i want to shift before we run out of time to that i.m.f. report i talked about global economies reducing the global joe growth projections from three point nine percent to three point five what do you make of that and there's also that news about china have in their their worst g.d.p. all their worst israel pretty good since ninety ninety what do you make of all that
well three point five isn't terrible they their projections for the two thousand and twenty is three point six but as you pointed out it's the second time the revised down recently the last one was in october and they've indicated that it's for much of the same reasons that they you know a continuation of the circumstances that they had the revised down before china is one of them that will get that a second also german car manufacturers guy having trouble because of new fuel standards italy not buying as many you have turkey with an economy that's worse than it was projected originally and china their g.d.p. is projected to be down to six point two this year so you the downward trend is going to continue people are losing their jobs and. china unemployment is creeping up in every sector from tech to manufacturing you name it and of course you also have the fact that chinese goods aren't as big a demand around the world because of the global downturn so china is a mess right now which makes it imperative i think even more so than ever before
and i think a president she realizes hey we need to deal with the u.s. and hopefully that will happen and solve the problems a lot of problems at once i want to talk more about that but we're out of time and danielle i also want to bring you back whenever you're willing to be with us again you've been so gracious with your time to talk about global markets and how we think they're going to go forward twenty nineteen hopefully you can do that in the next few days of your schedule allows danielle and steve malzberg thank you both for your time sure appreciate it guys. and last week we mentioned some of the inconveniences caused for mexican motorist as new president andres manuel lopez obrador on low tries to plug costly corruption related leaks in the nation's oil pipelines which government estimates they siphon three billion dollars per year from the mexican treasury on friday eighty five
people died in a pipeline explosion roughly seventy miles north of mexico city after hundreds of poor people rushed to collect gasoline from a leaking pipeline running from ip mix state oil company facility to a seaport of tuxpan officials at p.m.x. and the mexican military were criticized for the slowness of the responses and for failing to clear people from the scene near the leak the c.e.o. of pm x. and mexican attorney general have both promised to investigate the causes of the leak and the responses by authorities. and india may be on the verge of landing a sturrock twenty billion dollar investment from weapons of manufacture lockheed martin an unnamed lockheed executive told reuters that the company is close to shifting production of the f. sixteen fighter jet and thousands of jobs from the united states to india as part of a broader deal that would also grant lucky to a fifteen billion dollar contract to sell more than one hundred fighter jets to
india on that side of the deal lockheed is competing with aeronautics firms including francis de salt sweden saab boeing air bus n.b.a. systems to get a contract to arm the indian air force if lockheed and the government of prime minister narendra modi are able to iron out the details of the quid pro quo the deal would be a remarkable coup for mr modi who has been boasting about a made in india campaign and other indian economic news the modi government is also reportedly preparing a package of policies to support small businesses including easy credit and free insurance coverage ahead of the may general election. and it's time now for a quick break but hang here because when we return alex mahela bitch tells us about the ugly underbelly of the alliance to and plastic waste plus we didn't have time to get to it on our last broadcast but we have it today a walk around the north american bit toy car parts exhibitors from crypto artists
vesa to a hollywood movie maker it was an eclectic elector throughput people and you'll enjoy seeing it and markets are closed today due to the federal holiday in the states it's martin luther king jr day the fearless civil rights leader who famously said god never intended for one group of people to live in a perfect list in order to wealth while others live in abject deadening poverty will be back in a flash. in a world big partners who mock us and conspiracy it's time to wake up to dig deeper to hit the stories that mainstream media refuses to tell more than ever we need to be smart we need to stop slamming the door on the back and shouting past each other it's time for critical thinking it's time to fight for the middle for
the truth the time is now for watching closely watching the hawks. in twenty four to you know bloody revolution to crush the demonstrations going from being relatively peaceful political protests to be creasing the violent revolution is always spontaneous or is it you know lawyer here i mean you are liz put video to me in the news that i knew pulling you over the phone the ukrainian president recalls the events of twenty fourteen. those who took part in this to do over five billion dollars to assist ukraine in these an article that will ensure a secure and try. serous and democratic. but hopes and to do something to. put themselves on the line. they get accepted or rejected. so when you want to express. some want to listen.
to the right person this is what the three of them feel good that. i'm interested in the. us. and. welcome back last week we told you about some of the not so good earnings by some u.s. air carriers well ireland's ryanair has issued their second profit warning in four months blaming a larger than expected seven percent decline in fares over the northern hemisphere as winter season the irish airline has been bracing for
a two percent fare decline ryanair now says that for the twelve months ending march thirty first their average per passenger profit will be seven euro's that's down from ten euros just two years ago and overall profits for the year are now projected between one billion and one point one billion dollars down graded by about one hundred million dollars. oxfam international has delivered the latest dire assessment of wealth inequality since two thousand and sixteen oxfam is a report of the total wealth owned by the world's billionaires in comparison with the wealth held by the bottom half of the world's population oxfam's twenty nineteen report finds that the wealth held by three point eight. billion people on the bottom half of the world's wealth curve is now equalled by the net worth of get this just twenty six billionaires the year before it took up fortunes of forty three billion years to equal the total wealth of half the world oxfam says that since their previous report the world's wealthiest increase their holdings by
twelve percent interestingly three point eight billion of the poorest people in the world saw their wealth decrease by almost the same amount eleven percent. a group of over thirty companies have formed an alliance to stop plastic waste in fact they've pledged a billion dollars to do so that catch the same companies plan to expand plastic production in the next few years to break it all down for us as alex mahela bichon toronto alex thank you for covering this this sounded like such really great news you know we know about all the plastic in the oceans etc this alliance is being formed to end plastic waste is that correct. well a billion bucks sounds like a lot of money to clean up and it sounded fantastic but let's start with a look at who these companies are here's a list and then it's a big clue to what actually might be going down here so the alliance occludes alliance which is called the alliance to end plastic waits state including chevron
phillips chemical company dow chemical exxon mobil for most aplastic corp procter and gamble reliance industries and shell among other or oil chemical as well as waste management companies now they've pledged a billion dollars and what they're saying is hey more companies come join the alliance we want to boost that pledge up to one point five billion u.s. dollars to save the world from all those plastic that's absolutely everywhere there is seems one of their focuses if you go on their website is cleaning up the oceans which we know is a huge story and i'm sure you've all seen pictures of what's happening in rivers and oceans etc absolutely awful so this pledge i mean it seems like a wonderful thing and to have put a billion dollars in isn't that great these companies are fantastic aren't they they're part. absolutely i've seen you know we're just throwing some of the roll there of plastic on the beaches and i denisov places it is really bad and kill and
fish and just horrible for the environment stuff does not does not go away so speaking of bad what's the kicker here what's the really bad news alex yeah you might have seen that i had a little bit little else of sarcasm in my voice here at the end yeah these companies they are investing maybe a billion billion point five in cleaning up but they're investing way way way way way way more in making more plastic exactly so here's a big issue we're looking at the recycling network and european and geo they're saying these do gooders are going to create more plastic than ever they're talking about the next ten years being a plastic boom so there's going to be more plastic than ever on the face of this planet that for example we have shell shell is building a multi-billion dollar plant in the us in pennsylvania and they're using frac gas as fuel to produce one point six million tons of poly ethylene a year now that's the world's most common plastic polyethylene now exxon mobil is
of pent expanding its plant in texas to increase plastic production by two point five million tons a year it will be the largest plastic production plant in the world and that we can even go to the other side of the world to saudi arabia where we have so dram co and the country's chemical giants s.a.b. i see these two companies are also investing in petro chemical factories why because oil is not as desirable as it used to be so why not move their industries into something more lucrative like this boom that we're seeing in plastic now look at this graph this says it all we can see that the numbers quickly diminish about when we're talking about helping and instead plastic is being made recycling efforts are not keeping up with production we can see that over the next few decades this alone. science that we're talking about they insist well you know what this is the only way that we can do this and when it comes to plastics that there is no alternative here in packaging except it's hygenic it helps us it does i don't
know a b. c. d. e. f. g. but the fact of the matter is if you look out there there are so many alternatives right now we can look at something as simple as a hemp which is a fiber which is one of the strongest natural fibers around we could pretty much make bags out of that in any way shape or form and people are making plastics out of things that biodegrade such as hemp and other bio mass so when you look at the these guys are saying it just seems like a massive p.r. facade yeah let's put a billion billion and a half out there but afterwards we're just going to make a heck of a lot more plastic look this way we're helping but that way who are making things worse yeah it reminds me alex of you'll remember but maybe not all the boom busters that old film the graduate with dustin hoffman they set invest in plastics and that people did but you look at consumers have a role in this too don't buy this stuff as you're saying really really something for us to think about alex mahela budget toronto thank you alex thank you.
and we didn't have time to get it to you on the last broadcast but we have it today i took around the north american walk around the north american decline conference exhibitors in miami last week from the crypto artists vesa to a hollywood t.v. producer it was an eclectic electric group of people you're going to join this. guys walking around the exhibition hall here is so cool lots of things we've seen accredited locked chain universities there's lots more let me show you one. really cool things here here's some artwork and we haven't actually done are behind we have the art is a pier that's the best thing in your post tell us about what you do not just this one you told me this was called the road with the me by marc pretty tidy goodness i
suppose the long the short of it is i used to be a filmmaker i had a production company i'm just a natural storyteller as a kid i started with my parents bought some time soon turned them into a trumpet and whatever by that long the short of it is i realised about a decade ago that there was an opportunistic opportunity for me to pretty much come up with my own art form and it started with body painting it started with painting and mixed media and being able to do these effect very effective powerful art pieces and also at that time i came to realise how the monetary system works and i was part of making a documentary film for that some whatever and i'm just being digitizing my work for a very long time already so finally a couple of years ago when i realised the power of loss and how important it was how many problems it's going to solve and one of revolution and what it is for the whole of our species really it was only a natural evolution for me to jump on board and go fully and i'm bursting a whole platform called art for crypto dot com and the space has been very good to
me i keep it they support me and i keep supporting it well you. show me a couple pictures including that iconic body painting you did of that bollywood model that was great in a sort of kaleidoscope that's great if i want to check it out that's up but also on your print those things you cut several of them and maybe we were able to show people that but talk about silk road just briefly your auction this off today yes it's actually. ordered to order the bellagio for the situation before it's possible to. basically get out of fifty k. that's the fair part of it all maybe keep it for the body like that so basically we all should say it was ten dollars and just to just to get it sort of very true to their mission i do it's going to push our discipline to put the money and spend on it have to say something that is. a good church. i keep hearing if a tragic story goes i think i should go to past that's the way it
is tremendous it's going to history i say trouble to. actually. you know all the people i did not expect to run into those who are now artists best but they do so much great to meet you pleasure likewise thanks for having me thank you. both look here's something interesting kryptos the t.v. show and i met earlier the producer here george shammy a george good to see you to see you so tell us about this what are you doing and this is a short piece to an industry it's about. and the so it's one hour. we want to. play on the thing you know on top of. the subject of six kids trying to. break through and make it all on this thing great and you're trying to raise money here isn't why you're here only trying to
find partnerships so yes fantastic it looks super exciting. i think i can i hope and i wish you well but we can't wait to see it thank you george so writers. like. what we have here is sold in tech solutions for block chain assets and we're pleased to be joined by caleb slade is a co-founder caleb good to see many of the bikes i'm sorry to tell us about what's going on here so salt launched what was the core products mainly for control this are for products and there's been plenty cash against us so just think about his house where you are it's been that you want. to sell that to freeze up cash for people who may have it when i mean do you care to another trip this week to clients period like point and we just added the season options of pay and you that you take ownership and take a lead of this yet as you get out some back and do some multi signature
architecture well that's the borrower does have one of the second chances we do need to that's able to execute a tax cut in the case of margin talks and value and much very interesting it's needed in this space caleb slate thank you so much it's a pleasure as. and that was sure fun in miami we hope you enjoyed it by the way the current price a bit going today is three thousand five hundred forty four dollars that's down from a month ago it thirty eight hundred thirty nine dollars and that's all for this time thanks for being with us you can catch boom bust as always on direct t.v. channel three twenty one dish network general two eighty or streaming twenty four seven on pluto t.v. the free t.v. at channel one thirty two or as always you can catch us at youtube dot com slash boom bust r.t. so long for now see you next time.
perfect there's someone else living inside of me or controlling my body. the byproduct of the drug is the cause like severe depression. because it literally need him into a zombie it's crazy. you know we don't have to do anything it's not our fault you know she's crazy and all that. took years traumatic. to get rid of.
so what we've got to do is identify the threats that we have it's crazy thing for him to let it be an arms race 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 time to sit down and talk. seemed wrong when all the rules just don't hold. any beliefs yet to shape our disdain becomes agitated and in games from an equals betrayal. when so many find themselves worlds apart we choose to look for common ground.