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tv   Boom Bust  RT  October 29, 2018 10:30pm-11:01pm EDT

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coming up today we've got lots from brazil where they've got a new right wing leaders to germany where the leader makes a major announcement to indonesia where there's a horrible human tragedy it's occurred in one of boeing's new airliners we have a show fall to the brim with important timely news like up to the day five seconds ago news we'll get to all of it plus we have to keep competition questions those wal-mart stand a chance of being a real rival to amazon lots for us to get to so we pop start today let's roll. we start with the markets after a week of down and dour markets last week as we told you about before save brazil and shanghai last week which were the exception stock markets are trying to regain their footing around the world and they have not done so we have seen a six hundred point swing today in the dow jones industrial average traded there and ending down for the day of course we'll give you those numbers that the breaks
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of a civic leader are down four hundred points about five minutes ago and the s. and p. five hundred is also into correction territory the transportation sector one of those s. and p. sectors is mainly down as are key blue chips blue chip stocks like i.b.m. and microsoft and boeing we'll get to more on boeing later and met market concerns continue to be related to the possible slowdown in corporate earnings in addition to fears about global economies of mist increasing trade tensions of the earnings report today more than twenty percent of the companies reporting have raised the issue of trade tensions as a potential problem in the future chinese growth which we've spoken about many times came in a little less than anticipated six point five percent in part due to china's reduced exports to the u.s. those exports were especially impacted by u.s. import tariffs placed upon thirty four billion dollars worth of chinese good by the trop of ministration that went into effect back on july first as you may recall but . looking at maritime shipping data and what exactly is them all those cargo
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containers that we see the brown ones and the red ones they account for by the way about ninety percent of global trade in goods those cargo containers and according to ocean trade database they now say chinese exports to the u.s. dropped by get this twenty one percent in july for a mere before and earlier today there was a major news out right german chancellor angela merkel who first came to office in two thousand and five she says she will not seek reelection as head of her ruling center right c.d.u. party and her fourth term is chancellor which will end if it she fills it out in twenty twenty one that will be her last and the news comes of months of a bevy of bad election results for the chancellor's party including over the weekend here with more a c.e.o.'s more killer for which hillary thank you again for being here we count on you so much for helping on not just the u.k. stuff but global stuff but we love you on the e.u.
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stuff so what's up with this surprise a lot of people my pleasure yeah i think it was because of mainly of course what happened in a very of that weekend this is a very affluent area of germany and the election results as disastrous and she is quoted as saying which i think we should all have my love for you know success or failure it's my responsibility and she's taken responsibility and she's smart to step aside now because it would be a bloodbath if she didn't. notable and what leaders should do they should take responsibility doesn't always happen so what do you think's going to happen next she she going to fill out still twenty twenty one or somebody else going to step into the for a while if wolfgang schauble has his way probably not he's the speaker of the pollen and he's far more conservative and he's from the sort of knuckle count and if he has his way probably he'll weigh in as a kingmaker no doubt and support somebody more like friedrich mazz who is somebody that is now an asset manager for blackborough who was in her of ministration. well
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that's very interesting you know we've spoken about on the program before the first norge dream to that idea that not an identical but a different pipeline we got the norge dream one coming from russia no north dream two and then just last week germany says they were going to accept quite natural gas from the us what do you think that's about you think that maybe the chancellor is trying to get in the good graces of the truck ability to ration i think well perhaps but also don't forget they want to diversify they were very dependent on russia liquefied liquefied natural gas and i think that they wanted to diversify there have been a lot of questions about the cost of all of these plans that they were going to be building in northern germany because a lot of that could be taken care of from some of those dutch facilities so the view was that it would take about a decade to remain stable but i think going back to what you said about you just asked about who would replace her you know don't forget there's her dolly is that anchor at camp carroll she's currently the secretary general and of course she would maintain calls legacy to some others as a as
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a mini merkel you have the right to live somewhere of like sort of the liberal legacy somewhat and then you've got of course gender spot who she wouldn't want to succeed because he's the current health minister and his father on the right i think it's more likely to be if you wanted to have my guess more likely to be someone like me as and what's good about him from an american perspective he's also chairman of an american german business entity and i think he's very pro-business and that's what wolfgang schauble also would would see in him hilary thank you so much for the. mark pleasure. and we talk all the time about food in agriculture industry but we have spoken little on the major companies that deal in food and their influence in how we view the actual science the science of food not only do companies like coca-cola and pepsi they tell you they sell you their prada. but they're also trying to change
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how you think about nutrition putting the odds in their favor as it were and in her new book unsavory truth how food companies skews the science of what we eat professor marion nestle discusses how the company's behind your favorite drinks and food are influencing nutritional research we're pleased to be joined by the professor pressure welcome thanks so much for being here i mean how much influence does marketing have on what we put into our bodies and what are the numbers related to sort of advertising and marketing generally around the world well the food industry spends billions of dollars on marketing and they're not spending that money lightly they know that it works if an individual product has a marketing budget of hundreds of millions of dollars just in the united states and just for advertising that goes through advertising agencies which is the kind that can be counted you can bet that they think it's
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a good investment and professor what about marketing to kids you know we all recall the you know the sort of the cigarette marketing with joe camel and trying to make cartoons characters a peeling for cigarettes but what about food there's a lot of that too right. well food company executives tell me that marketing to children is their line in the sand they have to do it if they don't market to children they can't get children to pester their parents for food they can't get kids to get loyal to particular brands and become lifetime consumers and they want to market to children and no matter what promises they make about how they're not going to market to children under the age of twelve and programs aimed at children under the age of twelve they find ways to get around it you know they want to and i make it sound if areas and i probably shouldn't but they want to hook up they want to get them they want that brand loyalty for years professor i'm curious about
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something i actually worked at the agriculture department back in the you know these many years back in the late ninety's and i saw this a lot where the food companies are actually involved in research etc they do research that all of a sudden it comes out and it's really supportive of what they want to do but there is this really unsavory mix also of that connection that borders on conflicts of interest i know you write about this in your book talk about a little bit. well the major observation is that research that's funded by food companies comes out with results that the food companies can use in marketing that's why they do it this isn't about basic science it's really about marketing and i think there's a big difference between research that says what is the effect of our food product on health and research that says let's do research to prove the benefits of
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a particular product i get letters all the time from trade association saying we're looking for proposals for research studies that will demonstrate the benefits of our products that it's not science that is marketing yeah absolutely you know i you got a whole chapter in your book about coca-cola but you know whether or not it's coca-cola or pepsi or any of these sugary drinks i know they're trying to morph into other things but people continue to buy them in our body doesn't need sugary drinks but you talk about this global energy balance network tell us a little bit about that well i hate picking on coca-cola because coca-cola is problem is that it got caught because of e-mails that came to light but what food companies in general do is try to get research that will benefit their products and in this particular case coca-cola funded an organization of researchers who were arguing that exercise is more important than what you eat in maintaining
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a healthy body weight i think exercise is very important but so is what you eat yeah absolutely could you talk just a little bit about labeling professor whether or not you're happy with it in the u.s. and the e.u. maybe in asia is it is it is it ok or is the need to be improved. well labeling can always be improved and the big push for improvement now is for what are called front of packages labels which are symbols on the front of packages that tell you what a glance whether it's nutritionally adequate or not and finally i can't let you go without asking you what would be your major advice to consumers as they go forward rather than probably get your book the unsavory truth but other than that professor barry did it for you but but other than that what do you recommend well when you see studies that are funded by food companies be a little skeptical if you hear about food studies that call that call for breakthroughs or that say everything you knew about nutrition is wrong that's
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a red flag and you should be skeptical same and all sorts of fraud samarian also author of unsavory truth thank you so much professor we hope you come back we sure appreciate your time my pleasure. and time now for a quick break but hang here because when we return there has been an airliner x. it in indonesia it's a horrible human tragedy it has occurred in one of those new boeing airliners former national transportation safety board director of jamie finch will join us plus those wal-mart stand a chance of being a real rival to amazon steve mauls very helps us answer that competition question and as we go to break here are those really dismal numbers that the closing bell will be back in a play. welcome
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to max kaiser financial survival guide. putting. it out. yanks this is what happens to pensions in britain. watched as a report. in twenty four to you know bloody revolution to the demonstrations going from being relatively peaceful political protests to be creasing the violent revolution is always spontaneous or is it just no lawyer here i mean you are liz put video through the. school and you go to the former ukrainian president recalls the events of twenty fourteen. of those who took. it invested over five billion dollars to assist ukraine in these and other goals that will
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ensure a secure and prosperous and democratic. seem wrong but. just don't call. me. yet to shape out this day become active. and engaged equals betrayal. when so many find themselves worlds apart. just to look for common ground.
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welcome back we've spoken about the brazilian economy and the election before and we've noted the stock market there the i but beth's which remained up despite other global markets being down well hardball this a narrow the far right candidate did win that election yesterday to be the next brazilian president here with more authorities nicholas o'donovan. a new era has officially started in brazil as expected far right i'm former army captain jailable so narrow one brazil's presidential election with fifty five point one percent of the votes against fourteen four point nine percent for fair nando died from the workers' party the p.t. also narrowed to finds himself as a political outside of this by a twenty seven year career in congress and his entire campaign evolved around the widespread anger at the political class after years of corruption and economy has struggled to recover after
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a punishing recession and surge in violence in his acceptance speech he vowed to carry out his campaign promises and then corruption after years of leftist rule polson are also said that the country to know longer continue flirting with communism while half of brazil celebrated we actually saw thousands of people in the streets of rio de janeiro's how paolo and other major cities the other half of the country fares a setback in social rights economic justice and equality the markets on the other hand well they reacted very favorably to balsa naras victory brazilian stocks jumped to the highest level on record this monday we can't forget the balsa naro is considered a pro free market environment and could trigger or he will trigger actually moved to privatized some of latin america's biggest companies he is also expected to
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implement broader fiscal reforms in latin america's biggest economy and to lead this strategy he would most likely appoint the highly respected paolo geddes remember that name because he is going to be the country's top finance position but as we said the markets have reacted positively and brazil's benchmark bird. index in sao paolo gained more than three percent in the opening minutes of trading reaching its highest results on record and extended its month to date pasta twelve percent meanwhile the brazilian wral was at three point sixty four days the us dollar today but has risen more than thirteen percent st september's bowl sanaa rose election chances improved and now as we know he is the elected president many financial analyst analysts point out that bolton are a trump have similar economic agendas and they haven't
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a similar effect on the markets we thank our correspondent nicholas o'donovan thank you prison site. there's been a fatal air crash and rescue efforts are ongoing off the coast of indonesia and crews continue to search for possible survivors of today's lion air flight which appears to have taken the lives of one hundred eighty nine people including twenty indonesian finance ministry officials the flight left the capital city of jakarta and reportedly lost signal with air traffic control just after takeoff crashing less than fifteen minutes into the voyage some bodies have been found and the plane has sunk the pilots had ample flying time under their belt the weather was clear and the route is well traveled what appears to be different is this plane is a newer boeing seven thirty seven model here with more is the national transportation safety board director jamie finch former director jamie finch jamie thank you for being here we understand that any time you got of investigation and
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got to go through the process and we're not making a pronouncement it is sort of strange here that we have this engine this new boeing airliner with the engine what can you tell us about these planes well this is the newest series of the seven thirty seven back series which is the newest family of the seven. seven thirty seven aircraft which are the most popular aircraft ever used or ever put into commercial service there's over ten thousand of the seven thirty seven's in operation around the world or the been produced around the world the the max series which is goes through the seven thirteen in this particular aircraft was a seven thirty seven max eight the engines are c.f.m. which is a. joint venture between g.e. and saffron engines and they are of a new composite carbon composite these these aircraft are lighter they are more
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fuel efficient this one of the reasons why that the new seven thirty seven max family and the the new boeing seven eighty seven which came out a couple years ago they're both of the same kind of lighter carbon materials so they can fly much more fuel efficient lee and longer distances they have been very very popular with the airlines obviously if they're saving money on fuel they've been very popular with the with the general public the flying public because they are very ergonomically designed they're very efficient in the lighting the air systems for ventilation and so forth so they've been very very popular this this particular crash this is the first time there's been a crash or incident involving the seven thirty seven max series but what's interesting is that this particular aircraft had only been delivered to lyon air in august of this year and only had eight hundred hours of flying time. and so this is
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going to be very as as you mentioned the investigators in this particular case the national transport safety committee which is the key of the of indonesia they're going to be in charge of this but in t.s.b. since this is a u.s. manufactured aircraft. india's be will be a party to the investigation and will be participating as as a party but will not be leading it i'm curious jamie and we had you on before when we had problems with these carbon fiber fans that were blow it blowing apart is there some link here potentially there's a potential link in the investigation i think one of the ones in particular that you're discussing is mentioning here is the the southwest airlines crash or incident that happened with an engine where the engine exploded it busted a window it's like a woman halfway out they eventually pull or in but unfortunately she died from her
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injuries from that that incident but that was engine and it did have an impact on you know the investigation is going on but this this is going to add to what the investigators are looking at is there a problem with these these fan blades is a problem with these engines but i'm getting a little bit ahead of myself here we don't know if it was our engines so it's very important as a malaria jamie and i'll tell you what the markets today boeing stock was down twenty twenty six twenty eight dollars and transportation in general is down but boy they took a terrible tumble and that's after they beat expectations on their earnings last month and that's a fourth time they've beat how do they compete with the major competition is air bust but talk a little bit about that competition the airbus the boeing seven thirty seven max competes directly head to head with the airbus a three twenty neo. and those are the smaller workhouse workhorse version of those aircraft and then boeing airbus
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just came out with their counter to the boeing seven hundred seven which is the the airbus a three fifty which are being well received by the airlines that are flying them and by the general public but those they're both in the same families both the both the macs and the seven eighty seven and the need. oh and the a three fifty are both in those lighter composite material aircraft they're going to be more fuel efficient and more economically designed but also a little bit less tested as far as technology we will keep an eye on it and we so much appreciate your insight jamie finch former n.t.s.b. director thank you jamie has. amazon stock plunged nearly ten percent in extended late trading laughter week after the company failed to meet q three estimates although year to date the stock is still up by forty percent while the stock was trading north of. two thousand
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dollars per share at the end of september it's down today it was trading about sixteen forty two amazon is currently locked in a battle for supremacy with rival wal-mart which doesn't report by the way until their two three earnings until november fifteenth there's prices up ten percent in the last year as the holiday season approaches wal-mart is looking to remain the world's biggest retailer and they are trying to increase appeal to both their high end and lower end customers to accomplish it wal-mart stock was trading at almost one hundred dollars per share today and back in january is up about one zero eight wal-mart is effort to provide more convenient and less expensive ways to buy groceries coupled with the acquisition of higher end brands of clothing and other products which seem to be their formula of choice but will it work and here to help us sort it all out is conservative commentator steve malzberg steve thank you for looking at this i know that such a fun conversation we're having it informally the end of last week and we said we
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should do off about this on the air it's really an interesting subject so what is wal-mart doing they talked about buying extra robot six cetera and in groceries what are they trying to do that's going to challenge amazon well it's an eight hundred billion dollar industry so this is a battle royale certainly is. by all definitions wal-mart is winning the grocery battle and they're winning it because of their brick and mortar presence in the united states for instance in the united states you have ninety million people who live within ten miles of a wal-mart superstore and what's the main seller in these wal-mart superstores fifty five percent groceries so that's a big big advantage people like to go and see their food and pick it up when they can especially when they have the accommodations at wal-mart offers so you have the groceries there they're also according to their c.e.o. at
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a investors meeting last week they're lowering prices wal-mart is they're getting new products more fresh foods in stock and they're also trying to make it as pleasant as possible for the shopper so it's also if you do it on ly your to your groceries bar and you just drive up and pick them up you don't even get out of the car so it's the brick and mortar that's really working to wal-mart's advantage in the grocery industry you know steve we've got a whole foods in the amazon owns those of course and near us and we see you know grocery bags they're waiting for people to come but they're not refrigerated or anything so i wonder what are they refrigerate them at night but like you say wal-mart delivering to your car is a big deal how about the second part of that strategy you know the higher end business for wal-mart. yeah because groceries a load of middle end when it comes to income and shoppers but when it comes to the retail industry you have
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a real competitive situation wal-mart dominates the low end of the retail industry but again amazon dominates the higher end and with good reason i mean wal-mart cannot compete with the e-commerce facilities the delivery capabilities of amazon they just blow them away yet right out of the water now wal-mart is trying to get into the higher end make a dent into wal-mart's higher end profits by buying certain companies bare necessities and company shoe by also bought jet dot com which is an e-commerce online that targets urban higher income millennia so they're making an effort but it's amazon all the way on the higher end of retail and how about the one point three billion people in india that's going to be a target for them to. yes wal-mart just for flipkart sixteen billion dollars their
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biggest single investment but nonetheless that was at a startup company in india online commerce but still in all of its amazon and here's one thing amazon is doing bart they've they've they've launched a massive effort they've got to the cities they sent representatives they've opened up shop in india they've gone to store owners in city after city and educated them on how to educate their customers on how to go to amazon buy the products there then deliver to the store so the people get deliveries from the store owner or someone that he hires so they've gone very very local and it's paying off big time for amazon although they still have profitable internationally the last three billion dollars last year and most of that is believed to be in india one other thing it could all be moot because there are regulations coming down that are punishing foreign. companies like amazon and like flip mart since they're owned by wal-mart to give an advantage now to upstart indian companies and that could get
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worse steve thank you so much we're going to have to look at these things in the future whether or not ali a bob or target or anybody else could make a move thank you steve most very conservative commentator appreciate your time steve my pleasure and that's it for this time thanks for being with us we'll catch you next time so long for now. i will prefer to say that the human space is must become into prana terry wish me instead so we have a living in the solar system. and for sure we show that spans on other all this of the solar system i see this as a way all bring in and developing more technologists technologists so that they can
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even learn. increase and in improve the quality of life on earth. exists is harder than kentucky. the old boy susie who was very funny. a ko money since he was almost no coal mines left. the job to grow old the goal was to show. that it was love to see these people the survivors of a world disappearing before their eyes. i remember thinking when i was younger that if anything ever happened to the coal mines here that it would become a ghost town but i never thought in the million years i would see that and it's how it's happened.
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at the next cd you convention to samba i will not run for the chair of the party this is the last one for me and. merkel says she will not be running for a fifth term as a german chancellor and will stand down as party leader after eighteen years in charge.

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