A lower level. All due respect we look at bias to the downsides and you know they meet trade its breaks it its Financial Markets it could be all crises just this year and g. D. P. Runs the risk of being one percent lower in china 3 quite a few Percentage Points lower in the u. S. And over oh for the where the about 0. 5 percent. The o. E. C. D. Outlook also found that a no deal exit for the u. K. From the European Union could reduce e. Q. Growth by half a percent and the word u. K. G. D. P. Growth by a full 2 percent a wee cd country by country projections also fell in line with the trends the Organization Also notably warned about the increasing risks of leverage corporate debt. And Major Players and finance are calling on the Us Federal Reserve to create a standing means for intervening in money markets after the fed intervene for a 3rd straight day to inject 75000000000. 00 of liquidity in the early hours of thursday the fed again had to act to ease tightening and then over subscribed overnight option the market for repurchase agreements or the repo market is a core of correcting mechanism of the modern Banking System in which banks finance their overnight credit needs on a daily basis the fed was forced to take action of the type not seen since the aftermath of the 2000 a Global Financial crisis or watch the federal funds rate which the fed is supposed to manage rise out of the feds target range and fundamentally undermine confidence in the feds ability to perform its primary function the fed announced thursday action on wednesday afternoon but many players were still unsettled by the recurring anomaly in money markets. And joining us now to clarify and resolve all apparent economic anomalies and irregularities is Jeffrey Tucker of the American Institute for Economic Research jeffrey very Interesting Times to talk to you but lets start with this irregularity in money markets and this recurrent bottleneck around purchase agreements this feels like a very important story and one that takes some perspective understands weve been getting takes on this from guess almost every day with this week we heard from peter schiff and Richard Wolfe on this whats your diagnosis prognosis and prescription on this recurring issue in the money markets. But thank you for ask me the question i tend to think that everything is that the worry is a little bit overwrought on this on this repo issue there are other read. That are growing are besides besides liquidity issues there are certain quin such as that are happening that are causing these kinds of interventions and i dont necessarily think were talking about q. E. 4 here and thats ok but what it does indicate theres no question the markets are worried about a bit heres the problem everybody is getting extremely jumpy right now so the slightest little disruption or anything happens out of the ordinary everybody started screaming oh my god oh my god you know the worlds the worlds falling apart i think the reason for that is that is the global slowdown in growth caused by very clearly the trade situation so its made everybody extremely jumpy the downgrade the of growth has created a sort of sort of paranoia thats in the markets today thats thats why this is in the news thats why wall street cant stop talking about it and any other normal time this would just be just another day theres an additional problem that everyone knows that the fed is under pressure right now to bail out the United States economy and even the Global Economy from the consequences of this trade war and its a very interesting question because nobody really knows what the fed is going to do i mean this this be clear it is not in the policy mandate of the fed to fix the problems created by by politicians and theyre theyre not economic policies for example these tariffs are right its not its not anywhere in the feds playbook that its supposed to repair the damage caused by the trumpet ministration but 3 theres a real question because its very obvious to the fed does have a mandate to lean against these cyclical patterns in the economy and thats understandable but whats critical here is what were seeing is not so much and normal boom bust situation the normal cyclical behavior of markets that are going from 10 years of grow. Both to a sudden recessionary pressure this is this is definitely an example of you know an exogamous imposition of a very violent at her option and global trade flows that thats disrupted Capital Markets all over the world and really reconfiguring the way everybodys doing business i mean the Trump Administration is literally talking about decoupling you know this is this is a huge and dramatic change for the markets are worried and probably the fed you know is looking at itself going weve got a job to do probably we have to intervene here and on our lead story the o. E. C. D. Global growth forecast citing as you did the u. S. China trade fight as a current dragon and no deal breaks it is another serious potential risk to growth is that o. E. C. D. Assessment too optimistic too panicked or just about right well i dont know its probably probably just about right the o. E. C. D. Is usually very very cautious and prudent but youve got to keep in mind that its not just as though you see the o. E. C. D. Study its also studies from the fed there was one that came out last week that very clearly impaired suggested a direct seeming cause and effect relationship between this trade war and the downgrading of Growth Prospects and its not just the fed its actually economists all over the world of talking about this i mean the american answer for Economic Research as it had its own study out earlier the share assessing thing is after one year and saying clearly the data indicate that there is a relationship between diminished prospects for growth and this imposition of tariffs on these endless fights in the arbitrary uncertainties thats been imposed by by the basically by the trumpet ministration of say so its not just the o. E. C. D. Its basically everybody its become blindingly obvious that there is a relationship between the return of the trade war and what it was stacking up to be a very serious prospects for. You know a lower growth forecast but maybe even a recessionary environment then it gets scary because nobody knows when it limits and thats one of the things about about protectionism it introduces these weird uncertainties that nobody can really control its like a ghastly can your home you know its ok its ok its ok and then its not ok. Joe the explosion everythings fine and all of the u. S. Trade with china finally its not clear what. President own in a go to go sheesh an objective here but hes talked about bringing back u. S. Steel because it sounds like a tough guy business man kind of stuff to talk about but u. S. Steel the company is their stock fell as much as 15 percent today after the corp warned in advance of 3rd quarter losses on the scale of 0. 35 per share is us quickly is us still part of the fake news problem or is despite to make it make America Great again less than effective or perhaps even counterproductive. Thank you for using the word counterproductive because thats actually the best term to describe it i mean the whole idea was to bring back American Manufacturing where were seeing is the opposite of facts and thats not just steel but its cars that weve got the General Motors strike having those weird things happen and all throughout the markets that i think are all linked to this trade policy i mean i would even go so far as to say that the messy i. P. O. That weve seen recently with we were nuber and so on Everything Everything is connected in a Global Economy everything is connected to the Global Economy so nothing could happen somewhere without it affecting something somewhere else and we cant i was anticipating what this is going to write and produce on a productive was the right word yeah increasing the regularity across the board Jeffrey Tucker of the American Institute for Economic Research thanks so much for your insight. Destroyed General Motors by workers represented by the United Auto Workers union entered sports day on thursday joining us now with the latest is our correspondent now fair in the 50000 striking workers and their union point to the saga vices they made when the company was on a Central Avenue actual death bed to help them survive and say you know now was the time for the company to give back after 27000000000. 00 in profits under the last 4 years under the expired contract what is the current distribution of pain right now between the company and the and the workers well as far as just on the g. M. Side were talking about a loss in the billions of dollars of potential loss and billions of dollars now as far as production at the close of yesterday there was about 29000. 00 vehicles that were not made by the end of tomorrow theyre talking about a loss and 43000 vehicles now yesterday g. M. Announced temporary layoffs 1200 workers temporarily again at the ocean isle plant in Ontario Canada and workers there are not part of the u. A. W. Union theyre going to be ok but again theyre temporarily laid off now business is an Economic Experts have crunched the numbers on this and they estimate that g. M. Is going to be losing between 50. 00 to 100000000. 00 per day now take a look at this chart here so the last time that g. M. Went on strike the workers there it was in 2007 and the it was for 2 days and she lost 23000000 now conservatively conservatively if you want to say that she is losing 50 mil a day by the end of day tomorrow theyre going to lose 250000000 in a week which is monday 350 in 2 weeks 700000001 of the longest strikes ever was back in 1989000 workers 54 days g. M. Lost 2000000000 now today if this were to go on for 54 days they could potentially lose 2. 7 or up to 3. 3000000000. 00 so again its one of these things that theyre going to be losing a lot of money the longer this goes on. And on the 2nd day of the strike the g. M. Bosses decided to step on some throats and cut off Health Insurance benefits to striking workers and short the cost of the u. A. W. Which will now have to try to pay strike wages and Health Insurance benefits out of the strike fund a Labor Relations expert a cornell told usa today regarding the cut off that he said theyre pouring gasoline on the fire she thinks this will scare the workers or get them to rethink the cost of their benefits i think its going to backfire its quick ration insensitive where the 2 sides right now on this divisive issue well after the end of day yesterday with negotiations they said that they only grate on about 2 percent so we still got another 98 percent of it to go if were keeping with the theme of math here but you know what the problem is is that the u. A. W. Right now they have 4 percent of their health care covered and g. M. Wants to raise that to 15 the National Average is 29 percent so they would still be getting a great deal but you know g. M. Only made 35000000000 in the last 3 years and theyre seeing a downturn and they expect this downturn to go into 2020 so theyre trying to kind of cut costs but at what cost will it be and the long run so well see how were were still well in the middle of this r. C. Correspondent thanks for joining us thanks in no. Time now for a quick break but stay tuned because when we return as ai continues to. Continues to rise what role will it play for business Going Forward kristie i managed to catch up with all of these and asia to get his take on the future of an automated workplace and as we go to break here are the market numbers at the close. You know world big. Lot and conspiracies its time to wake up to dig deeper to hit the stories that made stream media refuses to tell more than ever we need to be smart we need to stop slamming the door. And shouting past each other its time for Critical Thinking its time to fight for the middle for the truth the time is now for watching closely watching the hawks. Thousands of american men and women choose to serve in the countrys military and the decision. Every song came to a complete. The day that i was right to be instructed you know told to shut up but theyd kill me and i see how it destroyed my life many screamed at me and he made me come in the gram my own and he write me this berthing area if you take into account that women dont report because of the extreme retaliation its probably somewhere near about half a 1000000 women have now been sexually assaulted in the us military is a very very traumatizing tat happen but ive never seen trauma like ive seen from women who are veterans who have suffered military sexual trauma reporting rape is more likely to get the victim punished than the offender and almost 10 year career which i was very invested in and i gave a sex offender who was not even put to justice or put on the registry this is simply an hour in violence male sexual predators for the large part of target whoever is there to prey upon whether thats a man or when. The process of constructing this was to. As did right of. Course. This is. Beneath the skin when the state is suctioned over the scaffold over a period of about 6 months you have to shoot growth investor or as i said appearing in other words the cells the mule in your body grow into the scaffold it grows its blood supply to now this is fully integrated as part of. The. Welcome back austrian legislators have become the latest european policymakers to push for a veto of the draft trade deal between the European Union and medical sewer the 4th 4 nation south American Trading bloc members of parliament from a broad range of austrian Political Parties voted in the subcommittee on each issues to reject the agreement among many issues and problems cited in the debate as reasons for rejection where the brazilian government was the brazilian governments declared policy of encouraging destruction of the amazon rain forest argentina brazil part of why on earth why currently comprise mere course or the Austrian Committee vote seems to be the most serious threat yet to the proposed agreement after french and irish policymakers also threaten to veto the agreement unless brazil takes action to stop destruction of the amazon by laying clearing fires meant to wait make way for cattle ranching south american beef exporters are eager to increase their access to europe under their proposed agreement. And china is planning to auction 2010000 tonnes of frozen pork from its official state reserves thursday and thursday ahead of the week long celebration of the 70th anniversary of the founding of the peoples. Like on the 1st of october chinas pork supply has been marred by the ongoing african swine fever epidemic that has caused millions of hogs to be called in the country since january. Right started increasing since this on the african swine fever was severe last week leading to the rapid increase of Worker Rights i mean reason is that there are less plates on the market now less big calls the higher pork price it increased at least 40 percent. According to a chinese industry tracking site hog prices in china have risen by 130 percent during thursdays sale of purchasers will be purchases will be kept to 300. 00 tons per buyer pork accounts for more than 60 percent of the countrys Meat Consumption and is often seen as a measure of Financial Stability and a benchmark for other food products. And google has completed what is seen as a controversial takeover of the Health Division of london ai firm mind the move announced november had previously been delayed over concerns by the u. K. S National Health Service over releasing sensitive patient data to the internet giant at the center of the controversy is deep mines streams app which allows Health Care Professionals to monitor patients with a severe Kidney Disease the streams out made headlines when it was when it was found to be using data from more than a 1000000 patients without asking permission at the time the hospital doing the research the your Royal Free London hospital had not taken the proper steps to protect the privacy of privacy of patients alphabet googles Parent Company saw their stock jump on thursday morning on the news google said of the situation the acquisition of the streams app will allow them to allocate the resources needed to expand research internationally. And boom bust zone christiane may still be on assignment but weve got plenty of content in the can from our coverage in singapore during the ai summit in singapore kristie was able to catch up with. The chief Strategy Officer for asia pacific to discuss how the german multinational manufacturer is looking to implement Artificial Intelligence and automation into their business as well as the future of the emerging technology as a whole. Right now i know but i think im as just a heavy Manufacturing Industry company what are you guys stay away ill. Just to give you a. Product segment we got into manufacture. Which is commonly known in europe and were doing much trading we do Automotive Company and we do anyway does an escalator does which is the most common product of do what you can see around them and then we do. Mining cement chemical machines now the question of where do we see it. I think with the advent of technology the lies there if youre not changing the way were designing this machines and equipments if youre not reading that were getting out of this machines then we are soon uncompetitive in the market so the way we think about technology is what is the Current Business problem we have for example can i predict in advance when my machine is going to fail and i can save billions of dollars of the operational cost i can put my predict when is the next leader it going to feel and i can do that appear on the dollar these are the business problems youre running off to and using it. To improve. And operating for our customers so wait think we are in this trend now because we 1st had the 1st wave which was just big data and analysis of fake data and then we had the advent of like Machine Learning and narrow nets and Everything Else and the 3rd main phase of ai which were kind of starting to get into is more so predictive as you just alluded to predictive analysis and inference so do you see that were getting into that now and how does connectivity and play into much as much as they would like to create the hype and continue lets say in law in most cases. I think in companies that blondes insights on this case speaking were still quite early. Because before you get predictive you need out on 50000. 00 plus datasets to put on the unguarded term and start getting some meaningful insights so i would say at home so indeed to use cases were playing with the potential list of 5 or 10 percent of what we could actually do in the end so were still in the early stage and we are on the transition of being reactive. To predictive. So earlier we were just talking mention that singapore is one of the most innovative countries and thats kind of why you guys are here where do you see singapore going and who which country do you see spearheading this entire shift id say so i often tell this to my colleagues when you look at the innovation rankings you realize a single poor japan in korea is part of the top 10 most innovative countries in the world and coming from a utopian company we are not mind that so what is unique about singapore is that it is a very advanced adoption by the comment towards new technologies so they are the 1st aspect of new Technology One example is Autonomous Vehicles for example the 2nd is the very mature funding mechanism an Industry Institute partner should make on this of which means as a company if i want to invest in a different thing lets say for that example i get some support and funding and incentives from the government which is which is the catalyst i need as a company can make my Business Case positive and then we have a whole ecosystem of start ups region headquarters of big Major Companies so i would say a single board has a very unique mix of. Talent companies and the whole ecosystem coming together making it a very you know word of environment and i think talent is going to be one of the big barriers and big hurdles in the future because while you have a lot of people worried about there being out of a job you are also missing this emerging crop of highly talented individuals so do you see that being a huge barrier in the future i couldnt agree more with that i think talent is a big. Topic do it on an executive digitalisation initiatives and efforts and what you realize is that it is not about job losses was his job because the numbers could be 203040 percent depending on which Country Market youre talking about ultimately more than 80 percent almost 100 percent of jobs were transitioning to get changed because there are some palace which you and me do in our daily lives. Which makes sense to be done by a machine because the structure of automotive and they are the best on earth and theres some empathy Creative Intelligence complex unstructured thinking which are better suited for human beings so the way were trying to address the talent challenge is thinking about recycling and retraining. To make them ready for new technologies because of the modified with google for data scientists i can place bets on it i would always loose we would know would be attractive enough as an Industrial Company with software at our data centers so how do people start is the only way out yeah exactly so i think of it comes to a big argument i think that there are more jobs and more salary gain that im supposed to job losses which a lot of people are complaining thats a meaningless debate it is because you have been scratching the surface 2030 percent. Its not about the numbers its about each and everyone including you and me thinking about what skills do i need to do them in development in society in the future and how can i get rid of the palace which are not really meaningful and focus more on policy which im good as a human being exactly and then by that productivity just accelerates. The board though were just proficient of the world right so if you go 10020000 years back you would still have artists who would sort of paint is musicians all the creative streets art professions have survived all the stages of Industrial Revolution so i think if we continue focusing on stuff that human beings are good or. Creativity we would always remain relevant today even more Meaningful Society for future i guess now the question is what is the big bottleneck of the industry right now because were here talking about emerging tech were talking about ai automation cryptocurrency block chain and as well as 5 g. Networks and right now we are at the very forefront because every single one of these industries that just mentioned were like at one percent penetration our of what it could possibly be in the future so for you what do you see as the big bottleneck of the industry. I think. Possibly the single biggest. Is the friction between the technologist and the piano ok i see myself sitting in between the 2 so we have a piano loader a Business Owner a c. E. O. Who has to focus on Quarterly Results and wants to focus on the good i mean you know were technologists was developing the Gold Standard technology and talking about data science and and we have to find that in defense we could live in business use cases where there is a problem for the customer which we can solve on the operations cost which we can produce and then i think that i technology to where i think this industry is the real bottleneck in the option of people who are excited but there are 20000 feet and they have financial targets a lot of people getting very cool products but has no market for it if you can mash these 2 together case by case industry by industry i think then it can really accelerate that option and to do this you also need incentives you need talent and all of the standard challenges which come with yeah so yeah thats absolutely correct are transforming an entire industry and doesnt happen overnight rather not thank you so much our brain this tell us thank you. And thats it for this time you can catch boom bust on direct t. V. Channel 321 dish Network Channel 80 or streaming 247 and 0 t. V. The free t. V. Channel 279 or as always you can hit us up at youtube dot com slash boom bust archie see you next. They all see themselves as dying swans in their dreams. But only one in the cells will ever make it to the till. Theyre ready to give their lives for the chance to die on stage if only once. Not even broken wings can determine. For generations at the moment schizo ballet sweat and tears. Seem wrong but all in all just dont all. Get to shape out just become active. And engaged because of the trail. When so many find themselves worlds apart. Just to look for common ground. I dont think people were. Logged on the call for recall no calls when he does acknowledge you know the false so. You can sleep. With bullets of. Something. Youre going to do the british wrote a song to me shes on that you know sound a song follow my p. P. Down to this time out on top. Of the need to promote. The wonderful committed the thief to the computer the police are usually the Police Reports for the way the story. Of. What he calls of the highest level of sanctions on iran in the wake of the strikes on Saudi Oil Facilities that we cant get out of washington could hit the country with 15 strikes of its own but instead chose strength. Identity crisis facebook now claims that it is a publisher not just a platform and a legal case which could have a major impact on whats posted on the site. And austrian m. P. s want to pull the plug on a huge trade deal between lots of america in the e. U. Over 5 years in the amazon all the european firms all working with companies linked to the destruction of the rainforest