Essentially free up 126000000000. 00 of liquid capital that could then be used to increase lending support consumption and boost Business Investments this move that came after the glop a moment announced earlier this week its intention to increase economic stimulus measures as china faces increasing headwinds and met the escalating trade war this is the strongest loosening signal from any policy meeting year to date and these measures should provide the support to the real economy and reduce the risk of a dramatic slowdown in the 2nd half of this move was certainly antagonized especially since the p. B. s c. Indicated recently that they are wary a larger scale easing measures and have so far refrained from cutting benchmark Interest Rates meanwhile just when the 2 sides have agreed to resume trade talks treasury secretary minucci and has been quietly pushing the i. M. F. And independent body to endorse its view that china is a currency manipulator this is happening just one week after the i. M. F. Found chinas army to be fairly valued with no. Evidence of manipulation sneaky this move by the u. S. The i and thats the largest shareholder is putting new pressure on the institution and it undergoes a sensitive leadership transition following Christine Legarde departure menuhin is backing george their world banks chief exec to replace legard. Who has a close relationship with management could be installed at the i. M. F. As early as october at which point surely renew its efforts to engage her to address beijings currency policy trade war with china is now threatening to draw one of the global economies neutral umpires into the fray the i. M. F. The bank daddy of all banks is supposedly independent but are they really the us treasury was supposed to be independent yet they got bullied into trance agenda the fed is supposedly an independent Government Agency yet powell bowed to political pressure and now finds himself playing defense this is worrisome if theres supposedly independent bodies are so easily influenced. And one of the worlds biggest Credit Rating agencies fish downgraded the hong kong Sovereign Rating on friday as protests and riots continue inflicting long lasting damage to International Perceptions of the quality influx in this of of hong kongs rule of law and its Business Environment fitch unexpectedly dropped the bombshell by downgrading the citys rating one notch from a double a plus to double a on the citys outlook from stable to negative this could have serious implications for the borrowing costs of companies and the government this is hong kongs 1st downgrade by fitch since 1995 but leader kerry lamb hit back to defend hong kong disputed the downgrade saying that nothing has undermined the one country 2 systems and that the protests have not affected hong kong score competitiveness you know the as well as to other waiting agencies moodys are American Companies and there are questions. Growing influence on hong kong. In todays episode of the browser drama the ben build to block a no deal brags it has passed the house of lords without amendment the bill is now set to become law after the formality of the queens assent to the measure is officially attained on monday in response Prime MinisterBoris Johnson who on thursday said that he would rather be dead in a ditch than request an extension of braggs it notably declined to apprise of rhetorical display of defiance and determination on a visit to aberdeenshire in scotland mr johnson whose political and diplomatic standing seems to decline almost 5 hour insisted that he could solicit a new deal on bags from the European Union by powers of persuasion few outside of mr johnsons inner circle seem to share mr johnsons life confidence in his diplomatic capabilities the pound sterling took a fall of point 2 percent against the dollar and early trading while leaders of parliamentary opposition reportedly huddled to determine a common strategy labor leader Jeremy Corbyn is said to settle on a position that no general election should be called until the bend bill under an extension of drags it past october 31st. And joining us now to offer her perspective on all of this is holy forde which a board member of the British American business as usual come back youll be glad to hear so then bill boring the new deal briggs it seems to become law on monday barring an extraordinary break with president. To say that the bill is procedurally bulletproof as it passed with no amendments presuming regular legislative order will the Prime Minister comply with the ben bill if and when it becomes law well you know as christine mentioned you know hes already declared that hed rather be dead in a ditch than go and cruel to brussels to request an extension and of course what the hilary benn bill stipulates is that he will have to go to back to brussels and request about a 3 month extension till the end of january which he does not want to do and actually theres been says that he wont. Imply in fact hilary benn was quoted as saying you know we either have law and the rule of law or we dont so we actually can just ignore this and not actually accept it i think whats a very interesting point is that while this bill would force johnson not to be able to force through a no deal breaks it actually forces polymer to come up with some kind of solution and they have none so it begs the question what is their solution for the dithering as he was quoted in saying in aberdeen shares that you know it costs the u. K. A 1000000000. 00 a month for this do the ring all this delaying thats whats happening now the Prime Minister seems to still want to go into a general election which he said that he doesnt want but the government still says that they will try again to past election bill on monday the last general election was in 2017 while the referendum was in 2016 so my question per a tweet along these same lines is if you think that the u. K. Public may have changed their mind about which party they support since 2017 why shouldnt there be a referendum on brags that which the people last weighed in an even longer ago well the question actually begs why should we ever have any kind of referendum if the leaders are not going to actually adhere to a people vote for i mean thats the issue 201617 point 4000000 people voted for the not hearing 2 and theyre like oh well well try again vote again vote again so actually theyve already voted voted me and the issue is the elite has not adhere to it and its about as ridiculous as saying well people didnt like the fact that trump was elected in 2016 lets have another election thats how ridiculous it is written on this question of a worksheet and we talked to former member of the Scottish ParliamentTanya Sheridan who highlighted some of the issues he thinks are being effectively scuppered by the brigs a debate and he was quite followed up about that lets listen to some of that. Weve got. Weve got and then shook your economy weve got workers a 1000000 of them. Will feel so. The has been cut to the core we have got 100 and 23rd reason homeless families and temporary accommodation some of the been put up and make to continue shipping containers one of the richest socalled nations in the planet and yet will get kids living and made to shipping containers those problems are real and they have to be addressed carbon wants to keep the tories and he wants state and could use a labor government. So hillary in light of what time you said my question is is the u. K. In danger of a protracted distraction from the basics of governing and managing the economy for the common good. Management was done yes absolutely of course and i agree with tommy i mean look education the police force the National Health service none of its actually been addressed in fact just now just recently has come back with a sort of a bill and has basically proposed that austerity will come to an end basically by over 13000000000. 00 pounds to the infuse into the british economy why for the exactly the reasons that tommy said this is being a ridiculous distraction again the point is that leaders should have appeared to what the British Public elected by 17400000 people in 2016 backs it and they have not so exactly what it is distracted from every other agenda and has resulted in Business Uncertainty and in manufacturing uncertainty this is why theres a mess because they wont do what the electorate wanted so now theres also disputes within parties so the entire thing is basically a mass are we seeing not just a crisis within the individual parties but in also the basic institutions and the structure of the u. K. s political economy now actually what i would say kristie is the answer is yes its a mess but i would quote churchill democracy is not a good form of government better though than all the other forms of a tried and this is what democratic dissent results in and youve got democratic dissent i would say on the public and in the u. K. A general election is not going to be labor versus conservatives you know why because a lot of the labor workers theyre the ones that have been hurt to the greatest extent by all the e. U. Regulations and its the elites who historically were of course tory voters is the elites who are seeing their luxury goods become so pricey and Boris Johnson is actually trying to push through something that would give business certainty and bring back manufacturing to the u. K. That is a workers issue so what i think youre seeing is a redefinition in both the u. S. And the u. K. Of politics as we knew it interesting time. Good expert insight and guidance from holy for which board member of the British American businesses use president george bushs. Shortened trading week in the u. S. To start off september as liquidity returns back to the market after the summer low lets take a look to see how the equities ended up over in moscow the mo x. Traded up as president putin reiterated that developing the far east is an absolute priority he emphasized opening up the northern sea route as an International Corridor for increased trade and strengthening cooperation with india for mining and military over in shanghai the markets rallied up 3. 6 percent as china agreed to meet it with the u. S. In early october for another round of negotiations that services p. M. I. Rose while new export business has dropped suggesting that domestic demand was stronger than foreign demand while the market remained optimistic for continued trade talks no one is holding their breath for a resolution that china cabinet signaled a reduction in the amount of funds bank need to hold in reserves and this is meant to reduce the real cost of borrowing and further stimulate the market to cushion the slowdown expected in the 2nd half down in hong kong the hang seng rebounded strong on the back of the news that the citys controversial extradition bill has been fully withdrawn main then traders who took big bets and poured money over and on to hang say were rewarded as the market recovered over 4 percent for the week the hang say is now trading near the lowest price to book multiple since the late 2016 over in japan the nikkei brushed the highest level since august and shares closed at their highest in more than a month as investors breathe a sigh of relief that trade talks between china and the u. S. Will resume and we also have positive developments out of britain and hong kong as well the yen has backed off of their 8 month high against the dollar helping to boost major exporters over in india the sensex fell almost one percent reversing. Earlier gains as sluggish Economic Growth kept investors cautious the government announced that they would cut taxes on hybrid cars giving a boost to the auto sector finance and banking stocks though were among the top losers as the rupee fell further to close at the lowest level in more than 7 months due to the continued Foreign Fund Outflows down in australia the a. S. X. Had a volatile week as shares struggled to break higher mid week and up marginally we dont mistake Economic Data and trade concerns heightened fears of a slowdown in global Economic Growth australias economy grew at the slowest pace in a decade last quarter as consumers went on strike for more monetary and fiscal stimulus finally the all shares over in south africa traded up as the World Economic forum africa kicked off on wednesday the 1st item on the agenda was to strengthen the continents unity by creating the Worlds Largest free trade area the Auto Industry also got a boost when it was announced that as much as 60000000000. 00 could be invested in south african Vehicle Market within the next 5 years danielle for the rest of europe and America Thanks kristie starting as we do impose with the cac the cac 40 in next is up for the week and closed at a one month high at the end of trading on friday automaker pujo was up nearly 3 percent on the final trading day of this week. Is also up for the week and matching the comics performance but also hitting a one month high after gaining more than half a point on friday across the channel to the u. K. The footsie is also up for the week but this week also marked the end of an era as the u. K. Retailer marks and spencer fell out of the 4100. 00 index for the 1st time since the index was started in 1904 shares have lost about 40 percent of their value this year moving to the americas in brazil but also for the week despite all the recent International Drama around present bulls and morrow fortunately the brazilian economy minister revised all. On thursday by 2nd being mr bolton i was insult to frances 1st lady not a good looking 21000 and not good for business in mexico. Also for that week and moving to north america in the homestretch all 3 of the us exchanges on our border for the week writing this weeks burst of what now passes for optimism on the us china trade fight and finally in toronto. For the week our final green arrow on the board for this week on thursday the legal kinda business on that got a little bigger with canopy Rivers Company announcing their approval for listing class a shares on the secs those shares on will start trading as of september 9th and this is been your weekly global stock market wrap. Time now for a quick break but hang here because when we return barely more than a decade out from the financial meltdown of 2008 the u. S. Is already looking to privatizing public Mortgage FinanceGiants International regulatory attorney miles edward lend us a hand today to break down the calls and what this could mean for the future of housing in the u. S. And as they go to break heres a number close. To you so. They put themselves. They did accept the reject. So if you want to present. Them some want. To do it. This is what. You will be. Interested. Said she stressed to. The so that the british at the. Last to. Stop question was so here she didnt taste the face to face which. Which she death im not what you. Can invest in its future or moment of me for shit. Or to talk to you so if youre my its your bonus for to be. Its a mistake so its a quarter until put into the spirit they seem to be but you believe these that its a stupid silly. Person to be wrong or should stop them spinning. Expressed. During the Great Depression which old mr remember there was most of the family were unemployed. And it wasnt it was bed you know much worse objective listen today but there was an expectation the things were going to get better. There was a real sense of hopefulness there isnt today todays america where shape by the turn principles a concentration of wealth and power. Reduced democracy attack solo doubt engineer elections manufacture consent and other principles according to no im chaunced one set of rules for the rich opposite. Thats what happens when you put her into the hands of a narrow sector of wilf which will is dedicated to increasing power for chills just as youd expect one of the most influential intellectuals of our time speaks about the modern civilization of america. But chairman powell on friday claimed that companys Investment Decisions were affected by the trade war between china and the United States during his our markets and switzerland powell said i think it is the case that uncertainty around trade policy is causing some companies to hold back now on investments weve been hearing quite a bit about uncertainty so for businesses to particularly make longer Term Investments in plants or equipment or software they want some certainty that the demand will be there the comments come as the fed weighs what to do with Interest Rates later this month the u. S. Central bank previously cut Interest Rates by 25. 00 bits in july powell added that he does not see the belief that the u. S. Is headed towards a recession meanwhile the u. S. Bureau of labor statistics announced at the monthly job numbers on friday in august job growth continued at a feeble pace with nonfarm payrolls increasing by only 130000 supplemented by the hiring of temporary census workers ahead of the 2020 survey the Unemployment Rate stayed steady at 3. 7 percent. The Trump Administration has shown thrown their support behind the idea of privatizing mortgage giants fannie mae and freddie mac. The 2 companies which guarantee roughly half of the u. S. Mortgage market have been under government control since the financial crisis of 2008 u. S. Treasury secretary Steven Nugent said in a statement regarding the recommendation that quote an effective and efficient federal Housing Finance system will also meaningfully contribute to the continued Economic Growth under this administration portions of the plan for privatization will require approval from the u. S. Congress joining us now to discuss this and a host of regulatory issues is International Regulatory authority miles and miles welcome back. Thank you 1st of all lets get your take on this u. S. Housing news walk us through the concerns that regulators and Public Interest advocacy groups might have with these changes from the Trump Administration to these cornerstone institutions of the u. S. Housing market fannie mae and freddie mac. Sure lets start out by explaining who they are theyre both government sponsored entities which means that theyre somewhat private operating under the auspices of the federal Housing Finance agency and what they do simply is fannie mae buys mortgages from commercial banks pretty mad buys mortgages from thrifts they securitize them into Mortgage Backed securities and they sell them to the market and thats a wonderful thing its quite profitable and the government has done quite well since 2008 with this model the situation is that if you privatized certain mortgages that would be available consumer to consumers may not be there and they may shift the landscape of the Mortgage BackedSecurities Market but it may also do and this is what regulators and consumer advocates are very very concerned about we may revert back to a situation of 2008 where if there is a Less Government intervention and oversight we may have a situation where subprime were nonconforming loans are sold as part of these Mortgage Backed securities and we find ourselves really circling back to a situation similar to the financial crisis of 2008 now the mike how one of the center for responsible lending told n. P. R. On this move that for the working class americans who want to buy a house they could make a much more difficult to get a mortgage and make the mortgage much more expensive so how much you characterize and quantify the effects of this change on the affordability of buying a home in the u. S. It will affect it because certain mortgage products will become less attractive to whoever ends up owning and running freddie mac. And fannie mae and it could actually be the same organization so what the beauty of a government sponsor entity is is that they look at putting the into. So the consumers 1st and profitability less so theres going to be tighter restrictions for consumers to obtain mortgages and theres going to be a less Product Available for them because whoever the new owners private owners of these organizations are theyre looking at the bottom line and they want to make sure whatever product they have out there. Is going to be worthwhile and thats going to trickle down to the thrifts and commercial banks making sure that whatever mortgages they sell to to whoever is a private owner of this organization is attractive to them so it will have an impact on it definitely now miles i want to get your take on 2 of the problems ive read in some of the reporting on this which is one these 2 g. S. Hes now siphon all of their profits to the government and as i understand it would continue to do so under this plan and 2 theyre also going to be really private companies again they would be billions in capital to work with and they were wiped out when they became directly controlled so how would they solve these 2 sort of logistical problems and basic finance if they want to make the really independent. Yeah and those are good points dan youre the 1st point is its absolutely true weve seen it before under the Obama Administration where they siphoned off profits from both organizations basically to stimulate the economy prior to an Election Year so that absolutely has been happening similar to whats happening with Social Security now what the new capitalization is going to look like is going to be extraordinarily difficult to see but youre right on target by saying that there will be a loss of capitalization i believe that the best approach would be is not only to have congress involved in the process but the president should appoint a committee of both private and Public Officials who could really struck sure what the new entity is going. To look like but we are going to be faced with both situations that that that piggy bank is no longer going to be available for either the president or congress to cite it off and use it for other situations as i mentioned before like obamacare now shifting over the Technology Big tech regulation is not going away as an issue in the us and new York Attorney general Leticia James said in her investigation with her colleagues of facebook so while a similar separate probe by the state a. G. Into google will be announced next monday according to the wall street journal the possibility for finding antitrust issues here seems almost unlimited so is this a slam dunk for the a. G. s are where the market power of those monopolistic practices have been built far enough to push back on the investigators. I think its would be a very difficult road for states to pursue a i trust. Especially for an organization that not only operates nationally but internationally its much easier if that entity is just confined to the state so in order to really succeed on a day and i trust violation one you have to prove that there is a monopoly and 2 you have to prove that their Business Practices really extended that monopoly and even though they may be able to do it the big question is whats the relief going to be. The goal of and i trust regulation all the way back to the sherman their trust act of the 890 s. Is really to break up the cities create several other entities to really free of competition and give consumers more choices i can imagine the state of new york breaking up facebook and what are they going to say were only going to break it up for new york consumers so i think whats going to happen here is putting pressure on facebook having them become a little bit more prieur in the way they conduct business and also i think what theyre looking for is political gain and maybe some unit of fines as well as International Regulatory turning miles edwards always welcome your insight thanks for joining us thank you. American Semiconductor Manufacturer of qualcomm announced friday it will implement its 5 g. Technology into their 6 and 7 series processors and not just a state of the art series 8 chets the move by qualcomm opens up the doors for consumers to have the opportunity to buy more moderately priced 5 g. Capability phone currently if you want to 5 g. Equipped phone in the u. S. It was such a back at least 1300. 00 for Samsungs Galaxy s 10 plus 5 g 4 galaxy is no plus 5 g. These new 5 processors will be used and smart phones made by up 0 real me read me the vel motorola nokia and l. G. Qualcomm said that the new less expensive phones should have more store shelves in the 2nd half of 2020. And thats it for this time you can always catch boom bust on you tube dot com slash boom bust r. T. See you next time. Ready ready ready ready ready i am sure to stop it for continuing to grow. I just never know very good about the idea of bringing children into the world because i didnt feel like things were in very good shape that a life was just going to be a lot of software programs. Theres no reason for more world to take things that are to me the. Movie is a myth Something Else that. Everybodys scared to talk about is survival is truly dependent on us addressing this issue and if we can even talk about it if we cant even have a conversation of that it then. 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