Stable the Economic Security situations. Well you know its one hundred percent under the control of the International Olympic committee to determine where the games are going to be held so you know when the i. O. C. Decided to put the summer games in rio or when they decided to put the games in beijing the summer games in beijing or any of these places there theyre putting the i. O. C. Is in control of that so if they really were interested in placing the games in developed countries the i. O. C. Could do that and they havent done that theyve theyve shown this trend recently to want to put the games in these developing countries that as alex pointed out and as many people know are not in the financial situation where they can lavishly spend on facilities yet the i. O. C. Somehow forces them to do that and then the marker in a stadium or all the its all of these in rio that are just sitting there unused that thats really put a lot of financial burden on developing countries and i remember in rio they had all sorts of environmental problems you know the people were worried right up until the get go before everybody showed up with the water and everything so it was a big deal what it what are your expectations professor for the visa lympics are they going to be as bad as some of the ones that alex and you have talked about this year or is it hard to tell right at this point. I think that it is i mean as youve already mentioned it depends on how many cities are really willing to step up and bid for these games but if we talk about calgary in the two thousand and twenty six winter games there are still seven or eight five or six cities that are that are bidding for those games and as long as that happens the cost overruns are going to continue now in the summer stud as youve already noted they didnt have any appetite they had two applicants paris and los angeles for the games and they awarded for the First Time Ever in history two consecutive games at the same time the i. O. C. Has to be worrying that cities have caught on and theyre no longer willing to bid against one another to to bankrupt themselves in order to host the games and i think it will just remains to be seen for the next summer games that are awarded how many cities actually bid for it really great information appreciate you helping us drill down into it dr Brad Humphries associate professor at the Regional Research institute at West Virginia university thank you have a great weekend great talking with you too. And before we go to the break with the numbers china has said that it may launch a you want denominated Oil Futures Contract given march china is the Largest Crude Oil importer the move if successful would challenge the two existing in the toilet benchmark those are the west texas intermediate contract which is traded at nymex the New York Mercantile Exchange and the brant contract which is traded at the Intercontinental Exchange ice futurists in london so stick around when we get back well talk to workers and wages and here are those numbers at the closing bell. Semimonthly boy and entertainment have become blue that it into our culture and we have children grow up playing playing on the computer this one has somehow been to mystic hated as entertainment to russia theres nothing funny about it is so serious russia will be the last to give up Nuclear Weapons because russia regards Nuclear Weapons as the bow. Of the inflation a waltz by the superior competition. I max keiser one for my guide to financial survival this is on a device used by professional scallywags to earn money. Thats right these hedge funds are simply not accountable and were just getting more and more to them. Totally destabilize the Global Economy you need to protect yourself and get informed kaiser. Run. The best out of the jewels. The concept of paying to perform i have actually passed myself to die. Hed want. You to trust me. As my son. In the home of well done stuff. For. This continuous. Deity. So well see. What. Was it he could with us the logic that yes cant be patient so he took care to education on the. Toilet p. S. K. Twitter has reported unprecedented quarterly profit of ninety one point one Million Dollars in the Fourth Quarter of last year the profit making milestone was reached largely by cutting expenses by twenty eight percent overall revenue grew by only two percent to seven hundred thirty one point six Million Dollars twitters revenue in the United States actually declined by eight percent twitter c. E. O. Jack dorsey said raising the tweet character limit from one hundred forty characters to two hundred eighty characters has increased engagement with fewer abandoned tweets. The politics of debt and disaster are heating up again and in the eurozone with some very tough words from the French Foreign min. Or what to do in case of future bailouts the french finance minister said a german proposal on this would be a gift to extremists are those tough words on the tough issue for the future of europe to preclude confirmation between the euro zones two major powers our correspondent peter oliver has more frances finance minister has hit out a german backed plans that would see private investors automatically take a hit should a country in the eurozone apply for a bailout well bruno limited has said that the plans put forward by berlin would make the euro less stable as a currency and it would also fuel euro skepticism now the German Finance Ministry here in berlin which put forward these plans they say that it would. The move would force investors to be more careful when they came to buying up sovereign debt and that it would also reduce the burden on taxpayers in bailout countries the move is backed by the government in the netherlands but opponents say that these greater powers for the european stability mechanism which is the Eurozone Bailout Fund would create a perpetual cycle of crisis and would spook investors now of particular concern to analysts are countries with a high debt to g. D. P. Ratio with italy singled out as a particular cause for concern along with greece which is still pretty much a fiscal shambles almost ten years on from the two thousand and eight banking crisis. And tippi may be a matter of etiquette but its also a matter of dollars and cents for our nations lowest paid workers will learn a little bit more about the current controversy on tips and wages but first lets get some perspective i was in europe recently where a service fee on your restaurant tab is more common than tipping in south and Central America the protocol varies widely though the major nation of brazil follows the european model of a service fee typically ten percent in africa for example its smart even thoughtful defer words if being in india failing to tip could cause a big sea and in china on the other hand its generally a non Tipping Culture the bottom line is that many countries that are less wealthy than the United States still do a better job of guaranteeing Service Workers a floor on their income lets turn back to the u. S. With Diana Ramirez deputy codirector of the restaurant opportunities sector a diana thank you for being with us again its a real pleasure to have you now explain what this tip sharing rule is that labor secretary has put out and the Comment Period on this thats a public Comment Period that where everybody lets their views be known and they may or may not be taking into consideration that Comment Period just ended what is this proposal so the department of labor now under trump is put out of rule stating that that as long as the restaurant pays their tip servers the federal minimum wage of seven dollars and twenty five cents tips then belong to the house to the restaurant so theyre no longer property of the employees they will now become property of the restaurant so you wait on a table you get your seven twenty five an hour they have a meal it could be a spence of meal it could not be an expensive meal they give you a tip gratuity for your search. This and then you give that money to your employer and the employer decides what to do with it exactly this is real this is not like some hyperspace fake thing thats correct the employer can because its a property of the employer now the employer gets to choose whether they want to share it with the line of service with the back of house or just keep it they dont have to share it. Ok so heres what i know and ive a little bit of familiar familiarity with this that when workers who are being paid what is it to thirteen an hour to thirteen into thirteen is not the minimum wage of seven twenty seven but to thirteen our kids are going to get tips that oftentimes those workers dont make the minimum wage of seven twenty seven so its already a problem so if people are trying to raise a family on seven twenty seven a year and theyre not getting any tips they simply cant do it in my view is that correct i mean theres data to support that i see right right restaurant workers rely on social Services Food stamps medicaid twi at twice the rate of the working thirty hours a week or all their data all the week so that the employer doesnt pay health care or they have to twenty hours a week jobs you know and it just it really is a tip stealing role is what theyre putting out and you know the department of labor has the obligation to put out an Economic Analysis when they put out these types of rules they didnt this time around they said it was too hard to figure out how much how this would impact the economy so in lieu of the official Economic Analysis by the administration the Economic Policy institute ran their own analysis and they found that almost five almost six billion dollars would transfer from low wage workers to employers and four point six of that would trickle up and trickle up exactly and you know were already seeing one of the biggest tax breaks to the richest one percent and coming from from other classes and this this would be a transfer of wealth also. I almost hate to go here but is there some sort of gender or Racial Discrimination in this with your gordonia of course four point six of the almost six billion dollars will come from women because seventy percent of tip workers are women so its because from women and. People of color will will lose have the most to lose under this proposal ok. So that said so what is your main message to the Labor Department that needs to be put in all these comments what were give us the high level comments that we want our viewers to understand also the high level comments are one employer tips the tips are tips tips belong to workers even if they are shared with a line of service they should never go to the house so have imports have the workers decide whether they want to pull their tips or not and even if they do then that money should stay with them the managers and the owner should never put their hand in the tip jar. You know one way to over do rules to overturn rules is to change laws and the way to change laws is to change members of congress and im not saying that a members of Congress Need to be changed but they should have a view on minimum wage on this tip sharing rule and so even when an agency any agency in the government puts a rule in place that rule can be undone if Congress Passes a law to do it so well see where the Labor Department comes out when you expect them to do a final you know they put it out december fifth is when they publish the rule and the Comment Period closed right to june fifth january fourth was the original closing date so of course thats the biggest season for restaurant workers people are holidays are not going to come and no time to come and so then they said ok fine well give you another thirty days that it that expired february fifth and now our friends on the senate and on the hill are sending a letter signed on letters to ask secretary casa and the administration to rescind this rule because not only is it tips ask for low wage workers but there was a whistle pullover whistle blower inside the deal well who. Came forward and said in fact we did do the Economic Analysis but the numbers came back unfavorable and we were told to go back and fix our methodology and when those numbers still came back on favorable we were told to publish the rule without the Economic Analysis so they lied about it theyre being very sneaky thank you so much for being here appreciate that information hope youll come back thank you. Before we go we spoke with a lot about the olympics today and we did so from our usual boom bust economic or financial perspective that said the games are certainly more about anything other than money business and profits theyre about sportsmanship and sportswomen ship this olympics was particularly important due to increasing tensions between north korea and south korea Nuclear Weapons is a really big deal and it could be horrendous in the wrong hands lets just hope that the good efforts that we have at the olympics or sport and ship transfers over to Foreign Policy the rest of business and economics will take care of itself thats it for today be sure to catch boom bust at you tube you to youtube dot com slash r g boom bust r. T. Have a good week and enjoy the olympics. The old warhorse selling you on the idea that dropping bombs brings police to the chicken or forcing you to fight the battles theyre going. To stop spreading tell you that the gossip to at least. One of my eyes and tell me you are not cool enough but. These are the hearts that we all adore the one. Infinitely. Preferable. If from. Despite its turbulent history the soviet union i know has dominated International Sport however this is not about the motives of those champions from the. Sort of you know that go. Right on the children number. The more mobile there with the being bored me just remember it is your brother this guy who is from the order of europe of what irish was the first to be reserved for you if you were to the first soviet a limp a team of nine hundred fifty two with some good seeds of ifas concentration camp prisoners and frontline soldiers for which there could be of use in that its good to go from here with your shoes because you are much closer to the ship because youre more three foot youre in for the one for their shock or we have to get out of you if you think that the area were going to go with. The variations your bush will push through personal first enthusiasm will overwhelm you do when youre at the ocean were going to be putting your car where the workers here we are in the world free of guys you know can we. Across europe municipalities are taking their water supply back from private companies to me to keep our distance with simple song alone even if i Company Guess from elsewhere though they invite private companies to take over the utilities anybody else drop off. Laxness you guys youve got to be a violent up going to go by been this is a map of us to quote them out of it overall roberson more you than both the left bill brought up locals are ready to stand up for the basic human right of access to water its about water but its also over much more than water. Its about the hurt and the redistribution of. This. Debt downwards. I. Mean. I. Israel strikes twelve targets in southern syria after damascus downs an israeli falling to the first six pulling its a response to the israeli aggression. Turkeys president says that one of his countrys military helicopters has been downed me a series northern border carrying out a military operation against kurdish militias that it considers to be terrorists. South korean president says hes ready to accept an invitation from kim jong un to visit north korea and the latest sign of falling relations between the country. And the. Far right. Ahead of a general election hundreds of fascist activists are demonstrating in an italian city recently saw a racially motivated shooting. Very good evening to you. This is all. Internationally. Israeli Prime Minister Benjamin Netanyahu has spoken on the phone with russian president Vladimir Putin and u. S. Secretary of state Rex Tillerson about the first downing of an israeli fighter jet by syria says nine hundred eighty two damascus says that it was a response to israels violation of syrian air space Israeli Forces have reacted by attacking twelve targets including both syrian and iranian facilities and when the jet was downed the pilots did manage to reject it all began with israel reportedly intercepting what it claimed to be an iranian drone crossing israeli air space deployed jets to target the presumed location of the drone operator and the perspectives in syria and israel on the situation differ in certain respects. This morning the Syrian Army Commander should just statement confirming that syrian air defenses intercepted israeli fighter jets that were carrying out an airstrike on location in central part of the country and then later on sunday news agency the state news agency said that israel carried out subsequent strikes on locations west and south of the syrian capital damascus and also said that the fences from the tsunami have been intercepting piece attacks we all we can also confirm that the sites that were targeted in the earlier attack that took place on dont today is the t for everybody in central syria in the deserts of central syria near a problem iran my mil three sources are saying that there has been no casualties only three Wounded Soldiers in this dont attack but there is no official confirmation so far has been hit before by israeli airstrikes. Earlier this year and back then israel said that it was a believed to be and a gathering of iranian advisors and the command building of the syrian armys First Armored Division Well its a play in three acts it all started with any iranian drone a remotely piloted vehicle which entered israel proper we dont know yet where they are for surveillance or attack and it was shot down by an Israeli Armed Apache Helicopter now following that particular incident the Israeli Air Force has retaliated against the launcher of this particular drone. Hitting the. Command and control of vehicle and perhaps the launcher itself and during this attack one of the israeli f. Sixteen s. Was idea hit by Syrian Ground defenses or the pilots got the impression that they are about to be hit and bailed out israel has again retaliated hitting the a twelve star gets several of them being iranian and several syrian this is the most serious incident. Between israel and syria and definitely between israel and iran in many years in my lebanon has complained to the un accusing israel of violating its sovereignty to televisa countrys airspace to carry out the attack on syria much blumenthal author and Senior Editor the real news dot com says that the escalation with lebanon didnt do israel any good last time and this time it could be worse. Its a dramatic incident for a number of reasons first of all this is the first israeli plane that syria has down since one thousand nine hundred eighty two second of all israel is unable to ask a late for a number of reasons Benjamin Netanyahu was in the opposition when the Israeli Government attacked southern lebanon and lost to hezbollah in two thousand and six and he fears another escalation in which hezbollah is substantially stronger after the experience its gained on the syrian battlefield and the syrian army has gained advanced russian air defenses the asked two hundred for example which appears to have downed this f. Sixteen so israel is in a tight bind here and they have blamed this entire incident on iran and consider it and its an attack on israeli sovereignty which is actually frankly bizarre because the Israeli Military struck twelve targets inside syria not israel and the Golan Heights is considered under International Law syrian territory. Things seem to be heating up in the skies over the region took a military helicopter has crashed near syrias northern border of turkey is carrying out an operation against could if militia is considered a terrorist by ankara at least two people were killed there hes president vowed that the perpetrators would pay the consequences. Our helicopter has just been downed of course all this will happen we are at war theyll be casualties on both sides yesterday we destroyed their missile depos surely will make them pay a heavy price but we do know is that the helicopter came down according to the kurdish fighters near the village in syrias afrin district and north of the country according to the turkish side according to the president helicopter was shot down in her type province thats a Southern Province in turkey it was borders after and to the west of that region now we know that two turkish soldiers were killed in that incident we dont yet know the type of helicopter but according to the Prime Minister been alejandra the cause of the crash is unclear we dont know if it was a technical malfunction weather conditions or actually brought down so still unclear as of yet what we do know is that this incident certainly wont help the Current Situation in the region we also know that its the third aircraft to come down in the region in the last week or ten days the first one was the russian su twenty five shot down over by rebels the other one the israeli f. Sixteen by syrian antiaircraft fire this helicopter as well proving that groups in the area do have the weaponry to hit targets and bring them down at a distance and so lots of people are wondering why turkey was on syrian territory in the first place well the turkish general staff said they hit nineteen targets in the region that included shelters i mean mission gun positions belonging to terrorists some of the turkish government often used to describe kurdish militias in the area now its been three weeks since operation all of branch was launched on january the twentieth the Turkish Military operation to clear the border region of terrorists as theyre described by or they want to bring the syrian land back to Syrian People who were recently stated that once our friend is liberated the turkish army will go further take a listen you know you know were going to continue the Olive Branch Operation until we achieve our goals and then as promised we will clear man beach of terrorists after that we will continue our struggle up to the iraqi border until no terrorists are left. Turkish forces are a long way from reaching into lube or any areas of true deep inside syrian territory but what this does mean is that Turkish Forces in the long run could get bogged down in a quagmire against armed groups which ironically have been supplied by the United States so whats the threat that we could see things escalate further theres definitely a risk of escalation u. S. Forces are present in Northern Syria in kurdish territory where theyve been involved in those train assist the Quick Missions helping kurdish fighters against the Islamic State now and said man bridges a city that could be next where this could bring the Turkish Forces into direct conflict with those of the United States take a listen to how much this worries the americans we would call i certainly on the turks to not take any actions of that sort dont want them to engage in violence but we want them to keep focused on isis now turkey and the United States of course are nato allies they have been for decades but in this particular conflict they support sides which are diametrically opposed and certainly when the fight against isis may well be over that conflict those tensions in Northern Syria are unfortunately only at the very beginning of what could be a long and difficult drawn out process. We asked middle east expert and contributor with our monitor early risk about whether the tragic incident could be used by ankara for further escalation in syria. I think that the turks the turkish president of russia. Already intends to escalate so i dont think that this particular incident will be used as a kind of justification as we heard in his remarks he intends to go on to member and then go on elsewhere reaching up to the iraqi border but. I think that he will face some very very huge monumental challenges because even in our three and as i said the turks are encountering such difficulty. Will be a different story that could threaten a potential showdown with the u. S. Ally and i dont think turkey is ready for that so i think that the turks are in a somewhat difficult position but
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