A business in the business mind set lets go. A new trade deal between the United States and japan in the midst of a lingering terror fight between the Trump White House and china and dismal prospects for a new nafta leader global report today the Trump White House announced the signing of the preliminary pact on wednesday hailing new Market Access to japan for us i grew cultural producers a summary from the office of the u. S. Trade representative claimed that the terms of the deal would allow 90 percent of us agree cultural exports to introduce a pan either duty free or with preferential treatment on the other side of the ledger some 40000000. 00 Japanese Agricultural products to the u. S. Will receive similar preferences some digital video books and similar products from both countries would also receive preferential treatment but perhaps just as notable was what was left out of all the paperwork and discussion any mention of u. S. President Donald Trumps previous threats to impose tariffs as high as 25. On Japanese Cars and car parts the u. S. President may very well be tiring of his own tangles with tariffs and threats against all sensible u. S. Allies and adversaries as a fight with china has caused a 53 percent drop in u. S. Exports to china from 2017 to 2018 and considering the losses of market share placed growing strain on rural farm economies mr trump has tried to ease the pain for his most reliable demographic base of Political Support among rural whites with direct payments to farmers for their losses this week bloomberg published their statement that those payouts now total 28000000000. 00 a cost greater than that of the famed bailout of the u. S. Auto industry in the bush and obama era on the chinese trade track this week chinese officials finally seem to take some significant the monster ball action to reopen u. S. Markets for u. S. Soil with new waivers for importers after many unverified u. S. Claims of chinese pledges to increase purchases but increasing political troubles for mr trump in the form of a quickly Development Developing impeachment process would seem to all but for close the passage of mr trumps revised version of the north American Free trade agreement the socalled new nafta. Weve been following the dollar shortage crisis and the repo markets this entire week after the fed turned on the liquidity they get increased it even doubled the amount of funding available to banks now moments after the fed announced its 2nd expand its 60000000000. 00 term repo today the demand rushed in and the books were oversubscribed this suggests that the funding shortage is getting worse on a poor and basis and the term repos which were supposed to alleviate it is not working i kept the Worlds Largest interviewer brokered this the worst Case Scenario as it was not only oversubscribed but it was over by a whopping 13000000000. 00 this shows that the liquidity shortage is getting worse and that the more liquidity the fed provides the more liquidity primary dealers indicate they need the situation will only get more. Dire as we approach month and as this repeal operation has become a modern stigmatizing equivalent its like taking a handout if clients or lets say trading partners catch a whiff that a bank is in a dire liquidity state the consequences 6 could be dramatic like in 2007. Joining us now to break down the latest market moves we welcome back todd horwitz trees strategist above the trading so as tiny it is now it basically extending out an olive branch to us ahead of the schedule trade talks by purchasing considerable amounts of pork and soybeans the u. S. Then decided to retaliate and slap china with sanctions today the treasury announced sanctions on 5 Chinese Companies and 6 nationals accused of importing oil from iran so much more good faith this is a complete slap in the face so now this is affecting both the oil traders and the global oil shipping market so give us the latest there. Well again i dont i dont look at these as any really big deal one way or the other i mean i think when you really look at it the markets tell you everything that you need to know and of course the oil markets since the ridiculous rally off a saudi arabias drone bombing has come back right into the range and work was trading for the last 6 months so i dont think anything will change there and Agricultural Products are picking up steam and actually have looks like they have bottom and are starting to move higher so we could talk about the slabs in the face of we can talk about the olive branch i think there was just an olive branch about 20 minutes ago as we saw the dow futures explode of course theyve suddenly come back down again but again china is trying but theyve got to come to the table and theyve gathered give President Trump in the United States the what they want which is you cant steal our intellectual property very to do that were not going to do business with it and i think thats the way it should be and i would hold that hard line until we get that done and u. S. Farmers get a bit of relief today from this japanese trade deal. To me in the u. S. Is still remarkably weak it seems u. S. Business investment contracted more sharply than previously estimated in q 2 and now that in qana me is steadily losing sweet as its stimulus from the tax cut fades should leave the house worried should we be as new data points emerge every day to suggest a weakening here and on the on the trade deal the g u s has reached a partial trade pact but on the japanese side it is only really got just the trump not did not impose new tariffs on japanese autos is that really all they got from this deal on the japanese side. Oh i think those are the gotten so far no i get i think thatll be an ok i think it will be a solid deal when its all said and done but i think when you go back to our economy and the slowing i think of this i think ive said this before in the last 6 or 7 weeks that i think were in the very early stages of a recession you know youre starting to see these little problems creep up ever to keep saying it doesnt matter this is not 2007 no its not 2000 and its 2019 and what are we seeing were seeing slowing the growth were seeing some issues in the jobs markets now were seeing liquidity problems with the Banking System so you start to put all these years together and of course we continue to get the it doesnt matter its different this time and of course we all know that its never different and they can only surely and hold these markets and hold this economy gather so much longer until its going to see some melt down and i you know again im not a know when that will happen but i think we still are in the very early stages of a recession or and i think that theres a lot of issues and were seeing them again play out in the Banking System in the repo market so now lets talk about this japan deal real quick the u. S. Has reached a partial trade pact but japanese commentators are saying that tokyo gave up too much japan gave ground on agriculture and but did not win anything on autos how is this fair this proposed deal would open markets to 7000000000. 00 of american ag products in exchange for some tariffs on japanese. I mean reduced but that did not include how that there. Well look they made the deal right so obviously when both parties walked away from the table they shook hands and said that we have a deal so how is it fair is fair because abi and President Trump decided to shake hands and make a deal there so you know again you have to look at the overall systems and whats in play and whats in play is that there said they still sell plenty of cars here and then big plenty of profits or so at the end of the day they shook hands made a deal both parties were happy as they walked away from the table and i dont that you can ask for any more than that so again we can try to pick the deal apart and try to say that this part isnt fair or thats not part of her but at the end of the day the guys who make the decision said it was a great deal for both and todd lets talk about one increasingly popular food option thats making headlines in the Business World and thats this beyond meets fake meets beyond meets is reported to be taking another step toward mainstream acceptance by testing its plant based burger in Mcdonalds Restaurants in canada so how strong is this trend as this seems to be getting gathering speed how big is this trend in food away from meat and 2 plant based meat substitutes. Lou i dont know that it is so much away from me lets be honest i mean the actual plant base is no healthier than a burger but there are many and it were growing more via guinns and vegetarian surat so what the these fast food franchises have decided to do is say look why should we give up the business of somebody who wont eat meat so why dont we go ahead and bring in this vegetarian burger or you know whatever you want to call it and let them come to us so we dont get checked off of some bears were not going to go because now a family can go to mcdonalds even if they have a vegan or vegetarian within the family so i guess i think its going to get much bigger than it is were going to be already so were seeing in Chicken Nuggets i think youre going to see it wasnt i know taco bell said no but dont be surprised that taco bell starts bringing in some of this fake meat as well because again there are a lot of people in this in this country in his world that are switching to not eating meat for whatever their reasons are and thats great so but the the the businesses are saying hey why should we give up that business so lets quit let them come in and have what they want versus just saying well were not going to were not going to you know have to come to our restaurant any more. Meatless meat may be coming to taco bell hot tip from todd or whats above the trading thanks for joining us thanks as ever. While Way Technologies is teasing the u. S. With an offer to license its 5 g. Technology to only one other exclusive company to create a powerful new competitor that could develop its own large market scale c. Revealed that the competition would help to drive Tech Innovation and will force it to become more efficient and eliminate underperforming areas this offer would include chip designs hardware and source code the company would allow the customer to modify the source code so that neither huawei or the Chinese Government could have any control over any Telecom Infrastructure build using its equipment while i wants to license its talk to an American Company as europe has its own south korea and japan are both already established only the us is behind so that this way it would bring the us up to the same starting line to compete in 5 g. Networks is not afraid of them mergence of strong competitors and says that it will only serve to motivate and remind us 190000 employees that they can sleep in and must keep innovating to stay ahead huawei is now focused on Ai Technology 7 and t. Is that they have begun research on 6 g. Despite always all of branch of the us american officials confirmed this morning that the Trump Administration is unlikely to extend temporary waivers to supply huawei and that the u. S. Is reassessing intel sharing with allies who are still using technology by repeatedly rebuffed in chinas attempts to compromise the u. S. Is not getting closer to a deal no matter how many times trump insists to the markets a deal is in minute weve counted at least 16 instances where the markets got jerked around by that statement already. And we were going down sterling for this week that would step down as c. E. O. As the Company Struggles to raise cash as do a growing list of Silicon Valley founders who have been ousted from their company list now include. Travis kalanick twitters jack dorsey group ons andrew mason oculus is Palmer Luckey and yahoos jerry yang to name a few with the company now facing a facing a cask of cash crunch as it loses nearly 300 dollars a month it only has a runway of about 5 months it is now turning to soft bank its biggest investor for an increased lifeline soft bank is now considering doubling down on their bet on the company after having plowed more than 9000000000. 00 in already a new 1500000000. 00 lifeline would help to open up fresh Financing Options for we work after its upcoming fall apart. Given its uncertain future when we work is looking to cut costs and were going to fire thousands of poison and potentially shut down its peripheral businesses managed by we company. By q q. Was acquired by we work earlier this year in april for about 250000000. 00 tempted to business in itself as a tech company. Time now for a quick break but hang here because when we return negotiations are reaching a fever pitch. Deadline. Of the British American. On hand. And here are the numbers at the club. The tense situation in venezuela is still all over the news the problem in venezuela is not that socialism has been poorly implemented but that socialism has been only. Inside venezuela things are different were going to sanctions against. Venezuela so if you. Look at. The. Story isnt you. Henry kissinger. In. Terms of economic and social system could take hold and therefore the policy would be to make. The economy scream. In this way. Chins or a little bit messed up by our d. N. A. In some way or another the complete im not sure it isnt such a great thing you know im sure you look better now than when he had hair come on its nice of you to say so but i but i went bald when i was 25 animals and so great that. It would run for a lot and then comes out of. The set up one a month what i would on. A friday afternoon 80. Not the high. End of the set on monday and the. Other side of the night im not going to meet a lot of. That he said when we do. Welcome back catching up with the International Monetary fund a new managing director has been officially installed to replace Christine Legarde who has switched chairs of the global policymaking table with a move to the presidency of the European Central bank the i. M. F. New leader its Christina Georgieva the 1st i. M. F. Head to con from a developing economy in this case bulgaria the 66 year old bulgarian economist has held a variety of jobs at the European Commission and the world bank this is georgia is also setting a new president with regard to age but i. M. F. Waived its age limit of 65. 00 to enable her to take the post she was the only nominee miss georgia eva takes office with some unpleasant business on her desk because i am officials are warning zimbabwean officials about payments from the zimbabwean state to allen political allies of the president according to the Financial Times the f. T. Reports that i. M. F. Officials say the payouts to fuel companies succumbed to holdings were enabled by simply printing. More of zimbabwean currency also says those payments and printings were so large that they significantly worse than the dramatic weakening of the recently we introduced zimbabwe and dollar. And other dramatic news around International Financial institutions the top german designate on the executive board of the e. C. B. Has resigned 2 years before the end of her term neither the e. C. B. Nor the german officials have been locked in slugger cited a reason for the early end of her tenure but the resignation has theyre widely reported as the latest action in internal fight at the e. C. B. Over Monetary Policy including the recent return to bond buying by the e. C. B. Under current president mario draghi the effective return of q. E. Has been controversial among policymaking elites the controversy came to a head in mid september when mrs laughton flagger and her fellow e. C. Board members from austria france and the netherlands unsuccessfully rallied to oppose the latest stimulus measures missed lodges log our departure also leave the e. C. V. Is 25 feet board with no women in its ranks while Christine Legarde prepares to take the reins from mr dog on november 1st. Tempers have been flaring in the united kingdoms parliament as Prime Minister Boris Johnson sped back from the Un General Assembly in new york after a court ruled his suspension of parliament was unlawful after yesterdays ruling mr st john the Prime Minister should have done the owner will sing and resign. And reporters are told remembers all the city disagreed with these governments could be leaving on october 31st they had a very simple remedy i suppose. They could have voted for a general election youre being asked to make. A point where to be sure to distribute your. Are you. Certain you are really a. Great. Belew create position. You will exhaust you who called you will get. Joining us now to sort out the latest in the bread saga is hillary ford which board member of the British American Business Association and hillary you know all the experts on the president here say the u. K. Supreme courts decision to call the suspension on lawful takes the court into a uncharted territory said a new president the parliament as you saw here also seems to be venturing into an unprecedented to reign with the level of rhetoric and the current challenge to the Prime Ministers previously recognized raw gives so what is your take on whats happening at the institutional level right now in the u. K. Is the system as strange as it looks and could this lead to some more fundamental change in the institutions well it definitely is strained you can see that its strained on both sides and of course when you mention the rhetoric youre referring to of course just felt who was the m. P. From Birmingham Yardley and also madeline another m. P. Who received a recent attacks and of course a while ago of course joe cox was attacked and she is deceased from her about attack but its been on both sides of the rhetoric i dont think its just being from boston what are they doing death watch in the will of 17400000 voters and this is the issue when you mention the Supreme Court ruling of course brenda hale the president of the u. K. Supreme court shes rolling on the concept that they think that Boris Johnson was was out of line not on a rule so basically its just that they actually want to defy the voters so youve got the institutions want you to define 17400000. 00 people who voted so what is this is democracy looking like a total and utter mess and ill reiterate what churchill said which is democracy is. A good form of government is just better than all the others tried a total mess so now going from the structural to the specific the parliament rejected earlier rejected the motion from the government to adjourn so where are we now in the process with the law barring no deal drags it having passed and mr johnson insisting that he rather die than delay braggs it past october 31st are you right christie actually said hed rather die in a ditch i didnt see all right theyve actually come back and theyve defied this i think everybodys the findings on both sides i think the institution is in jeopardy i think what its come down to is the following theyve actually been scared of a general election the labor party doesnt want to and you heard that in the most recent quote because they fear that the electorate will rise raise its ugly head and rise up and want to practice it so what theyre doing is theyre doing every single motion they can to thwart the bricks that vote what they house being talk of is of course i think its rather ironic you know remember remember the 5th of november everyone in the u. K. Knows that thats guy fawkes day that is looking to be the most likely date perhaps for a general election well what is november 5th november 5th is off to october 31st and johnson has to get the u. K. Out before then or else he also risks political jeopardy i think hes in almost like a win win situation because if he cant get through which is what hes promised the electorate will know hes been thwarted by the labor party and then the general election would take place people are speculating on november 5th what he has to do at this juncture is hopefully get through some sort of deal that is agreed upon by october 19th but no one seems to give that much of a chance and hilary looking to the continent we want to get your take on this drama we mentioned the issues with the European Central bank with their highest german official on their board resigning apparently due to discern chin over more bond purchases the return of the socalled quantitative easing policy and increasingly bitter german feelings are hurt feelings regarding the e. C. B. Interest rate policy is what you are and so do you in this kerfuffle and is it as dramatic as it seems. I think dan you are totally right i think its definitely dramatic and it is certainly a fall its not just the germans the germans resigned but its also the dutch on the germans in the dock and i think what you have is you have lets look at this on a global basis for our viewers youve got in europe the same thing actually you have in the u. S. Which is you have some states that dont perform like other states when the u. S. Has far more of a sort of a sense of National Pride and pulling the other states along the rule the United States you dont have that in europe so you have some countries that are very productive like the germans in the dodge and then this is another reason the breaks actually if you think about it the u. K. Is sick and tired of being the 2nd largest contributor and getting less from the e. U. So i think yes the answer is dramatic and its all about certain nations not pulling their weight and those in germany having to basically hold up other nations of which theyre sick tired and weary of doing fascinating and say hello forward to the British American Business Association thank you so much really are you crazy. Back in the United States the United Auto Workers union and General Motors appear to be closing in on an agreement that could end the 10 day strike that has put nearly 40000. 00 workers on the picket lines while talks have been taking place daily since the start of the strike in the last 48 hours there has been more than chance to me negotiations according to reports of people familiar with the matter you a Vice President terry ditz sent a letter to members touting the progress in talks saying the young resolved issues are at the main table and have present been presented to General Motors and we are awaiting their risk he added that quote back and forth will continue until negotiations are complete in a move on thursday g. M. Reversed course saying they will continue to pay for Health Coverage for striking workers after previously saying they would put those expenses back onto the u. A. W. The un union had previously said they expected to pick up the cost out of the strike fund if the strike were to commute continue for an extended period of time. Selfaware robots similar to movies like the terminator and blade runner may 1 day be a reality according to a claim japanese roboticist hiroshi is. In japan japan robots are commonplace helping with past like cooking and physical therapy a girl who has already created a Android Version of himself so that he would spend on business trips believes that breakthroughs in tech and ai are moving us closer to robots that we see in movies as a scientist i hope to develop self conscious robots like you see in blade runner to help me understand what it is like to be human that is my motivation he told a. F. P. While there are many who fear this innovation he added that american filmmakers seem to paint a negative picture of the robotic future adding that i can understand why hollywood want to destroy robots look at the japanese cartoons and animations robots are always friendly. We have a totally different cultural background. Robots are always friendly that and thats true thats not how it was in the terminator movies exactly were i robot or literally any of the american hollywood films we always put them in a bad light theyre always trying to become the dominant rays kill all the humans and also we as a species dont seem to have mastered keeping technologies from getting out of control and creating menaces to our existence like the internal Combustion Engine for example i dont know that were ready to handle fully why replicants is the scientists call the i would love to send myself on business trips that by this time you can credit boom bust on directv channel 321 dish Network Channel to 80 or stream 27 ampler t. V. The free. Or you can always catch it on youtube dot com slash boom bust r t c next on. The big 10 years since crosstalk started to 10 years i think its time to shake things up maybe change the branding maybe the format here is what ive been thinking about next season related episodes filmed on an island 10 experts cited out for it what do you think ok a more affordable option 25. 00 text for. One red rose another suggestion. No political cookout we will literally wrote the only. Late night show its a rare format these days and its chief all you need is an old microphone in a printed banner but. I guess i can do this and laughter politics gone wild like music. Ok crosstalk is. Not about height its about meaning 10 years of talk and still going strong. Peter if you want to change something why dont we get rid of the bow tie no that is too much. This is a story about what happens auster a stray bullet kills a young girl in the streets. What happens to her family and daughters in florida you know the mother daughter is buried in a cemetery meaning this is with your head what happens to the community the public was screaming for a scapegoat the Police Needed a scapegoat so why not choose a 19 year old black kid with a criminal record who better to pin this on than him and what happens in court the the. Shock shock as far off as i feel. We dont know childress from. The end of this trial unfortunately you. Will still not know what childress. The complaint which sparked impeachment proceedings against President Trump is released but the whistleblower admits not being a direct witness to most of the events described while the rival democrats are sticking to their guns. We were presented with the most graphic evidence yet. That the present United States has betrayed its oath of office. Betrayed us to defend our National Security and betrayed his oath to defend our constitution donald trump reiterated his desire for kids to investigate the alleged activities of former us that Vice President joe biden and his son which we we feel
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