Transcripts For RT Boom Bust 20240713

A combat mission for a go look for it so hard the hard part of our fallen comrades they dont live on a management that they dont love and that throughout this that the answer to question an american study both lead us there and stay to praise down the faith the outpost of the institute for an american studies both london and day to pray down the Faith Development in 85. Plus another thread about 10. 35. Plus another 3rd rate cut just be over the horizon in the United States great difficulty of your list be over to consider what eisenhower states its speakership of Euro Pacific Capital. Or will he go into one of them saying a one out of the what out of the with others who. Have a sadly enough it is sleaze and what it means for the median quickly is that its only unpredictable to the us less economy we have got for petrol not for they told us with a lot of lets go go. I think a Great National congressional wing phil gordon. C. E. O. At the center of a deadly scandal leads our group to what they say about at least boeing and all which he did something our global recchi day as boeing chief executive dennis mulan burgos before members of congress to face his 1st public interrogation regard anis mulan burgos before members of congress to face his 1st public interrogation regarding to some of the. Actions cause which is that kill that total of 3 total under 32400006 106 people we spoke about the every one for the birds at the copacabana beach about to prove that coming up in our Technology Studies and in improving their aerial technologies in airplanes going forward. Weve brought the best of boeing to this effort their planes going forward. Weve brought the best of boeing to this effort we spent over 100000 engineering and test hours weve flown more that wondrous protests and over 100000 engineering and test hours weve flown more than 800 tests like we could see just to say we could be done later to recession simulants with 57 i should consorted with the 540 perks for 3 months from 99 customers and 41 Global Regulators flown 99 customers and 41 Global Regulators flown. On a couple of flights. So. This is taken a lot longer than 6 taken back to a lot longer than expected but were committed to getting it working. To get it right. Mr mr mewling. Testimony to moni on tuesday to the United States Senate Commerce Committee Also marked a grim anniversary on tuesday to the United States Senate Commerce Committee Also marked a grim anniversary of the field burst the 1st face to face 7. And. The flying air flight stayed 6810 long by an air flight 610 indonesia indonesian investigators are not really released it was to be refined legals to final report on the 1st 777 credited 7 crash site in the. Control jet most a small gym and yeah like control system and c. I. S. As a significant factor in the crash the growing record of the 737 maxus as a significant factor in the crash the growing record of the 737 max is trouble development leaves mr mulan berg an easy and inviting target for some tough questions troubled development leaves mr mueller berg an easy and inviting target for some tough questions on to understand the statement and the s. And one. Day how else in the us how and from these 4 more rational around these here congressional hearings are to correspondent. For here im hearing of this of the here was. Janet yellen works 1st appearance on capitol hill ever since those 2 fatal. Janet yellen works 1st appearance on capitol hill ever since those 2 fatal boeing 730 s. And 37 crash. Its. One year its also anniversary one year of verse 3 of the lion air jet the like ryan. Cash hilde a 11318. 00 its all the ones on board an 800. 00 solar cells on board. The Senate Hearing and hearing room. Is to run by the rough and only bias of that is of the dems of victim of those of those 2 crashes. Carriage families holding up a range for. You all and overgrazed directly behind who appeared very focused and who appeared focused in on a texas. Crew accent as the church had chairman through congress the chairman of the commerce committees aviation subcommittee as the committees and david plantation assets committing how it was set up is the plan to handle design plans on asking how was the plane designed without safety mechanisms that happened not good with out sick but if you can is a sims that how is that not regulate one but twice how is the regulatory system designed what were the incentives within the regulatory systems to sign off on these changes a system designed what were the incentives within the regulatory systems to sign off on these changes and why were pilots not trained on this adding thats what prior 730 sevens had and why were pilots not trained on this adding thats what prior 730 sevens had but not the 737 max before the 2 crashes boeing touted to major air but not the 737 max before the 2 crashes boeing touted to Major Airlines around the world it was a fuel efficient plane and did it require time consuming trainer lines around the world it was a fuel efficient plane and did it require time consuming training chairman to mississippi senator roger wicker says his biggest question did boeing and the federal Aviation Administration rushed to get the boeing 737 max king chairman to mississippi senator roger wicker says his biggest question did boeing and the federal Aviation Administration rushed to get the boeing 737 max before certifications and Safety Measures were totally ready this after emails and the. Before certifications and Safety Measures were totally ready this after emails and the to tens of thousands of other dems argument by this house are dead lawmakers everyman reviews how would i was in the long. Viewed in their probe drawing questions about what was about her culture and and its red race to get to get the seventys and eightys and the seventys accepts. All the vote you know all the way over airlines to where its. Still. The phrase here and airbus these hearings come just one week as well as the one we are boiling with the goal executive zach it was if he has heard of the committees the head of the commercial Airlines Division Kevin Mccallister version of what is happening to. Be have an old maccallum policies that are just as a company says he handled the companys largest point of business point is where the patient is and she just was really. Playing. Poorly her face callous to. Her knowing internal scrutiny about his handling of a particular better. Needing the importing of a customer and it to particular alienating important customers following the 2737 max crashes 737 has been grounded since march and it cost you 737 max crashes 737 has been grounded since march and it cost the Major Airline company 8000000000. 00 commercial business relations are the Major Airline company 8000000000. 00 commercial business relations are more than 60 percent 8 percent of boeing boeing stings total revenue. Last week. It was to from as ordered from his position as chairman of the chairman of the board a board but he does remain to remain as one of his one of the chicks chief executive and that now is one of the biggest questions today on capitol hill why is one of the biggest. Part of this tuesday on capitol hill why is still a part of but bowing to texas senator senator ted cruz occurs there is that that is thats thats not a god government decision decision thats a ship that your whole shoulder most older sister just an engine chairman worker says that theyre determined to work with the families to get the answers and also bring chairman worker says that theyre determined to work with the families to get them answers and also bring those who are at 1st of all right hold that thought accountable. For a. Parent. Or a boom bust unfair and fronsac. Phase. Of a tween trade between 99 soon to be fine fine it could be 5 and a lot but it but it may not be in time for a meeting between the president and next month according to new may not be in time for a meeting between the president and she next month according to new reports are turkeys love and so. On has a facility until they decide on the deal the baton trade deal. Your money out of your muscle aidans of tristram youre talking knighted states and china leader says that are missing the United States about china are 7 meet on november 17th but there is no guarantee that the 1st phase of a trade deal will be ready to sign this but there is no guarantee that the 1st phase of a trade deal will be ready to sign this according to a new report which claim. The u. S. And china are continuing to work on an interim trade is according to a new report which claims the u. S. And china are continuing to work on an interim trade agreement but it may not be completed in time for the leaders assigned at the Asia Pacific Agri men but it may not be completed in time for leaders assigned at the Asia Pacific Economic cooperation summit in chel way but President Trump told reporters on monday the heat on that cooperation summit in chel way but President Trump told reporters on monday that he is optimistic and that phase one of the trade deal is already in the works we are looking is optimistic and that phase one of the trade deal is already in the works we are looking. Probably to be ahead of schedule decided a very big portion. Probably to be ahead of schedule decided a very big portion of the china deal and well call it phase one but egyptian of the china deal and well call it phase one but its a very big board should be that would take care of the farmers who would take care of some of the other things general very big boys should do that would take care of the farmers who would take care of some of the other things general also take care of a lot of the bank in the now according to reports walk Straight Talk also take care of a lot of the bank in the now according to reports watch trade talks continue the u. S. Will consider extending some tariff exclusions on 34. 00 bus continue the u. S. Will consider extending some tariff exclusions on 34000000000. 00 in chinese imports while the 1st part of a potential trade deal would have 1000000000 dollars in chinese imports while the 1st part of a potential trade deal which temporarily prevent an increase in tariffs current u. S. Tariffs or 25 percent on prayer only prevent an increase in tariffs current u. S. Tariffs or 25 percent on their deep phyllis begin to feel a letter to the dog worth a dollar charge many words imports are worth anything and this imports 14 per cent and on that 1500 percent on 100 and 10000000000. 00 and can go. And all the players and goods will remain and then the looming threat of terrorists on virtually all remaining chinese imports were through it specifically target consumer goods like all remaining chinese imports were through it specifically target consumer goods could still go into over and or this. Theater would be a big problem as nails approach one other thing that it could wolf the promise from china that it will follow basic Pretty Amazing settings dated ip and morning to investment laws i made complaints from the boss i made complaints from the u. S. That china has westfield that china is guilty of itll. Be a pretty. Big and what could. Also lead to the us removing chinas currency manipulator status as the countries make a value to the us removing chinas currency manipulator status as the countries make a bilateral commitment not to manipulate currency markets for economic advantage with bilateral commitment not to manipulate currency markets for economic advantage the deal could also include a much needed break for farmers china agrees to resist could also include a much needed break for farmers china agrees to resume purchases of products like soybeans and port high levels that were seen before that some purchases of products like soybeans and port high levels that were seen before the trade war began however the deal will not include a removal of restrictions on chinese trade war began however the deal will not include a removal of restrictions on Chinese Telecom giant wall way and a spokesperson for Chinas Foreign Ministry continued to a q. Telecom giant wall way and a spokesperson for Chinas Foreign Ministry continued to accuse the last of the economic bowling. We resume is the last of the economic bowling to do if we resume oppose the us abusing the state power to suppress specific chinese into propose the us abusing the state power to. Suppress specific Chinese Enterprises with unwarranted charges in the absence of any evidence the Economic News is with unwarranted charges in the absence of any evidence of the economic bullying behavior of the us is a denial of the market economy principle the bullying behavior of the us is a denial of the market economy principle the us has always advertised. The deal also u. S. Has always advertised. The deal also does not include a plan for how to end the trade war in reports noted the trouble ministration is you know does not include a plan for how to end the trade war and reports noted the trouble ministration is eager to push the idea that the initial phase will be followed by others but the expectations that you are to push the idea that the initial phase will be followed by others but the expectations that will happen are low now it remains to be seen if phase one of a trade deal will be read will happen are low now it remains to be seen if phase one of a trade deal will be ready by next month as the trade war between the worlds 2 largest economies begins to have everybody by next month as the trade war between the worlds 2 largest economies begins to have an impact on the Global Economy reporting from outside the office of the United States trade representative on the Global Economy reporting from outside the office of the United States trade representative in washington Rachel Blevins artsy. The highly live in washington Rachel Blevins artsy. The highly anticipated trade talks between president xi and trump scheduled for next month has boosted anticipated trade talks between president xi and trump scheduled for next month has boosted optimism in the markets that a phase one will be finalized that this will be the 3rd optimism in the markets that a phase one will be finalize that this will be the 3rd time the 2 leaders meet but in a last minute twist reuters reports that it interim agreement time the 2 leaders meet but in a last minute. Twist reuters reports that an interim agreement may not be completed in time for signing and she like so how many times have you heard the story may not be completed in time for signing and she like so how many times have you heard this story before and shouldnt the market know better than to get their hopes up before a deal is in or before and should the market know better than to get their hopes up before a deal is inked when it comes to trump u. S. Stocks quickly turned negative following the court as investors bet the quick when it comes to trump u. S. Stocks quickly turned negative following the report as investors that the closely watched trade talks were actually much further away from resolution than previously believed closely watched trade talks were actually much further away from resolution than previously believed for analysis on all things china and u. S. Trade war were now joined by sue up senior for analysis on all things china and u. S. Trade war were now joined by sue up senior apac International Relations policy specialist with the institute for china american studies so apac International Relations policy specialist with the institute for china american studies so soon rob if everything goes ahead as planned the summit between she and President Trump and there rob if everything goes ahead as planned the summit between she and President Trump and she lay next month would be the 3rd time that the 2 leaders meet so whats different about that she lay next month would be the 3rd time that the 2 leaders meet so whats different about this time and what gives the market any reason to believe that something some trade deals time and what gives the market any reason to believe that something some trade deal could be hammered out at this trade meeting whats different this time moves that could be hammered out at this trade meeting whats different this time move that were just not bunched closer to Reelection Campaign that its really just not bunched closer to Reelection Campaign that is probably the most important. For the have been so probably the most important so it can lead either. That there have been some warning indicators with regard to the u. S. Economys help and mr trump does not want that warning indicators with regard to the u. S. Economys help and mr trump does not want that to flare up in a big way going into the election but the bottom line out here is meant much to flare up in a big way going into the election but the bottom line out here is much much of this Early Harvest that were talking about these could have been harvested most of them in favor of this Early Harvest that were talking about these could have been harvested most of them in february itself there was no reason to drag this out this long and have so many prairie itself there was no reason to drag this out this long and have so many punitive measures particularly from me on words if this could have been harvested right the unit of measures particularly from me on words if this could have been harvested right then and its just been a lost opportunity and we touched on earlier and its just been a lost opportunity and we touched on earlier this week this scandalously under covered unknown regional earlier this week this scandalously under covered unknown Regional Initiative called the r c e p the Regional Comprehensive Economic Partnership initiative called the r c e p the Regional Comprehensive Economic Partnership embracing 16 nations accounting for a 3rd of one 3rd of global g. D. P. And embracing 16 nations accounting for a 3rd of one 3rd of global g. D. P. And half the worlds population there were some trouble earlier this week between india and most half the worlds population there were some trouble earlier this week between india and malaysia that threaten to derail it but could this u. S. China trade war help. Threaten to derail it but could this u. S. China trade war help keep the r. C. E. P. Back on track i think that the u. S. China trade or keep the r c e p back on track. I think that how the the us china trade war has been a stimulus for getting ourselves done that its been in the works since 20 has been a stimulus for getting our service done and its been in the works since 2012 guys like india frankly have been running their 1st but its coming close world guys like india frankly have been running their 1st but its coming close to a conclusion on november 4th theres an important Leaders Summit in bangkok to a conclusion on november 4th theres an important leader of summit in bangkok the High Expectations that the deal will be signed right then or if not it will the High Expectations that the deal will be signed right then or if not it will happen very soon thereafter and i think an important point to come out of office happen very soon thereafter and i think an important point to come out of all this is there are for countries are getting the agreement its a very broad to relax a little this is the are for countries are getting the agreement its a very broad political agreement the u. N. Calendar didnt ask here the un japan had done their economic dream and the un calendar didnt ask here the un japan had done their economic liberalization agreement and what we see is the us which once used to be the leader in the liberal vision agreement and what we see is the us which once used to be the leader in this area has now been is the only party which is actually walking in the opposite direction frankly in this area has now been is the only party which is actually walking in the opposite direction frankly meanwhile our rates of mention briefly that while away right now are right meanwhile our rate of mention briefly that while away right now our way and the other chinese tack on the z. T. Which were blacklisted by the u. S. Is issues have not been addressed and the other chinese tackled the z. T. Which were blacklisted by the u. S. Is issues have not been addressed yet and today china blasted the u. S. Calling them a car economic boulevard yet and today china blasted the u. S. Car. Find them a car economic bowling for proposal walking Telecom Carriers from by the way product it also now requires kerrys proposals walking Telecom Carriers from by the way product it also now requires kerry to actually actually remove existing power way away and z. T. Equipment what so this again goes at this again told me goes against im against the market for market principles on which calls on whether us have been previously and all and always try to compensate it solves all now or likely by quickly going to be owing at the site we enter at the subcontractor of trade hardtalk going into effect face to face a 33. 00 how can there be any compromise when it comes to black and white issues such as security. Can there be any compromise when it comes to black and white issues such as security your own on the while the issue is going to be a complicated issue in face to face 3 especially with the who are issue is going to be a complicated issue in face to face 3 especially with the improved with the detention of the leaders daughter in canada and that has the improved with the detention of the leaders daughter in canada and that has has its own dynamic of the let me frame my answer in 2 parts so to has its one dynamic of the let me frame my answer in 2 parts or 2 of countries are at liberty to draw the National Security perimeter in terms of their critical in for countries are at liberty to draw the National Security perimeter in terms of their Critical Infrastructure including in telecoms and countries of calm down a different points in this regard the structure including in telecoms and countries of calm down a different points in this regard that having being said not just about why were here is the kind of the irony that having being said not just about why were here is the kind of the irony the double speak of the u. S. And the u. S. Talks in terms of the double speak of the u. S. And the u. S. Talks in terms of. Chinas state run our state driven economy where chinas state run our state driven economy where its going off to the Playing Field with its industrial subsidies that cetera et cetera and that then off to the Playing Field with its industrial subsidies and cetera et cetera and that those subsidies need to be removed but the fact of the matter is who our way is through and through all subsidies need to be removed but the fact of the matter is who our way is through and through a private company and all of chinas dynamic in our private company and all of chinas dynamic Artificial Intelligence companies have recently also been sanctioned as part of the show you Artificial Intelligence companies have recently also been sanctioned as part of the shin junk issuing journ sanctions export controls and so the u. S. Stocks of junk issuing journ sanctions export controls and so the u. S. Talks about Chinas State Owned Enterprises and state dominated economy and yet what Chinas State Owned Enterprises and state dominated economy and yet goes ahead and punishes the most dynamic private players and to end goes ahead and punishes the most dynamic private players and to a kneecaps them and this itself is a large sure it tells a larger story of money caps them and this itself is a large sure it tells a larger story of what the u. S. Is talking about and what its true intentions are out here and i hope that the market promote the us was talking about and what its true intentions are out here and i hope that the market principle will be respected in greater detail frankly. That i fear that i the pleasure and support will be respected in greater deal frankly. That i fear that i was a pleasure having you here thank you. Checking you having here thank you. Checker. And with the ups downs and outs of the Energy Market weve got one of each to report today con with the ups downs and outs of the Energy Market weve got one of each to report today Conoco Phillips reportedly the largest independent exploratory energy firm on earth on a coal philips reportedly the largest independent exploratory energy firm on earth gets the days good news with an expectations beating 3rd quarter Earnings Report gets the days good news with an expectations beating 3rd quarter Earnings Report earnings were 3100000000. 00 adding up to earnings per share of 2. 74 innings were 3100000000. 00 adding up to earnings per share of 2. 74 conoco posted that figure despite an 18 percent fall in oil prices and comments conoco posted that figure despite an 18 percent fall in oil prices and conoco calculations global super major British Petroleum posted a close calculations global super major British Petroleum posted a 41 percent year over year drop in net profit for q 3 b. P. Also side 41 percent year over year drop in net profit for q 3 b. P. Also cited what they say are onetime asterisks on q threes report as reasons to list underline what they say are onetime asterisks on q 3 report as reasons to list underlying replacement cost profit of 2 bill point 3000000000. 00 in place of the replacement cost profit of 2. 00 bill point 3000000000. 00 in place of the usual net profit that more conventional figure was even lower at a flat 2000000000. 00 war not profit that more conventional figure was even lower at a flat 2000000000. 00 and the largest remaining coal company in the United States is now down and out. And the largest remaining coal company in the United States is now down and out as Murray Energy files for bankruptcy protections the manner of climate killing coal as Murray Energy files for bankruptcy protections the manner of climate killing coal. Publicly struggled to pay its bills earlier this month even after a restructuring for the insured publicly struggled to pay its bills earlier this month even after a restructuring Forbearance Agreement analysts say a side in demand for coal was a fundamental factor. Analysts say a side in demand for coal was a fundamental factor in murrays demise. The worlds most valuable company is ready to come as. The worlds most valuable company is ready to go public after a series of delays that put the i. P. O. In question saudi aramco public after a series of delays that put the i. P. O. In question saudi aramco will start to build the book on the 3rd of november according to a new report from reuters citing people for the us start to build the book on the 3rd of november according to a new report from reuters citing people familiar with the situation shares will be priced at the beginning of december and trading will start 1000000 with the situation shares will be priced at the beginning of december and trading will start on the saudi aramco domestic Stock Exchange on the 11th of december are on the saudi aramco domestic Stock Exchange on the 11th of december the oil giant which controversially valued at 2 trillion dollars will float what the oil giant which controversially valued at 2 trillion dollars will float a one to 2 percent stake on their local Market Making it one of the largest Public Offerings on the exchange one to 2 percent stake on their local Market Making it one of the largest Public Offerings on the Exchange Worth roughly 20000000000. 00. Has been forced to change plans for their i. P. O. Worth roughly 20000000000. 00. Has been forced to change plans for their i. P. O. Multiple times since they announced a decision to go public in 2016 while the company multiple times since they announce the decision to go public in 2016 while the company has been getting the offering off the ground they have also been roping in Institutional Investors sovereign wealth has been getting the offering off the ground they have also been roping in Institutional Investors sovereign. Funds and wealthy saudi families to become anchor investors going public is an opportunity for the bonds and wealthy saudi families to become anchor investors going public is an opportunity for the kingdom to diversify their economy away from a sole focus on fossil fuels taking them to diversify their economy away from a sole focus on fossil fuels. Time now for a quick break but stay tuned because just on the other side the us for a time now for a quick break but stay tuned because just on the other side the u. S. Federal reserve is looking to cut rates yet again in the next week but one could that mean in the Bigger Picture reserve is looking to cut rates yet again in the next week but one could that mean in the Bigger Picture for the u. S. Economy and Trump Twitter target Jerome Powell peter schiff of euro pacific for the u. S. Economy and Trump Twitter target Jerome Powell peter schiff of Euro Pacific Capital joins the show to help us make sense of the potential rate cuts and as we go to break here on capitol joins the show to help us make sense of the potential rate cuts as we go to break here are the market numbers at the core. Of the market numbers at the. All across the middle east and beyond there are large scale protests and growing political instability the middle east and beyond there are large scale protests and growing political instability in many countries the old ways of doing business but only in rich privileged elite while in many countries the old ways of doing business but only in rich privileged elite while the prospects for the many are few and far in between the elites have answers the prospects for the many are few and far in between the elites have answers. Join. Join me every thursday on the alex salmond and ill be speaking to guests of the world probably every thursday on the alex salmond and ill be speaking to guests of the world of politics or business im showbusiness ill see if that ticks or this im show business ill see of that. Welcome back. Welcome back checking in on the aftermath of the 40 day United Auto Workers strike at General Motors plant checking in on the aftermath of the 40 day United Auto Workers strike a General Motors plants in the United States g. M. Now says the labor action cost the carmaker 2900000000. 00 in the United States g. M. Now says the labor action cost the carmaker 2900000000. 00 in earnings in q 3 to spite that daunting figure g. M. Stock was a resilient dollars in earnings in q 3 to spite that daunting figure g. M. Stock was resilient and jumping just short of 5 percent by midday on tuesday the bad news confirmed the ensign jumping just short of 5 percent by midday on tuesday the bad news confirms a g. M. Profit guidance from last week warn warning of more red ink than expect a g. M. Profit guidance from last week warning warning of more red ink than expected there are also significant downstream costs for g. M. Suppliers that have yet to be tallied acted there are also significant downstream costs for g. M. Suppliers that have yet to be tallied and most of those firms as Earnings Reports one notable exception is john. Detroit and most of those firms as Earnings Reports one notable exception is detroit based lira corp lear c. E. O. Racecar told trade publication automotive based lira corp lear c. E. O. Racecard told trade publication Automotive News last friday that each week of the strike costlier between 7. Friday each week of the strike costlier between 70. 00 and 75000000. 00 nevertheless later stock rose by more than 2 percent 1000000 dollars nevertheless later stock rose by more than 2 percent on the disclosure. The s. And p. Had a record high on tuesday and the disclosure. The s. And p. Had a record high on tuesday extending mondays rally as investors look ahead to a potential rate cut from the fed expect a standing mondays rally as investors look ahead to a potential rate cut from the fed expectations of easier Monetary Policy help to lift the market even as the u. S. Try to trade eltons of easier Monetary Policy help to lift the market even as the u. S. China trade deal may not be finalized sinking the market into a close back said data may not be finalized sinking the market into a close back said data show that 70 percent of the s. And p. 500. 00 companies that have reported so far have beat analyst expectations that 70 percent of the s. And p. 500. 00 companies that have reported so far have beat analyst expectations but could be that the expectations were just set too low our current valuations but could it be that the expectations were just set too low our current valuation is justified for businesses just being less bad and messages are now struggles justify for businesses just being less bad and masters are now struggling to find new reasons to blame and extend the new record relatively in equities and less wind out new reasons to buy and extend the new record rally in equities and lets point out that the big risk is that were seeing a boost to asset prices but no. Up that the big risk is that were seeing a boost to asset prices but no real uptick in the real economy so for more on this were now joined by peter schiff c. E. O. Of the euro take in the real economy so for more on this were now joined by peter schiff c. E. O. Of the Euro Pacific Capital so peter phase one deal is just hyped up this in the Pacific Capital so peter phase one deal just hyped up this entire bull rally and this is just an interim deal that basically just kicks the trade can worry higher ball rally and this is just an interim deal that basically just kicks the trade can worries down the road and delays action the u. S. Is actually hedging themselves right now as treasuries down the road and delays action the u. S. Is actually hedging themselves right now as treasury secretary management is still not giving a definitive answer on whether or not the december 15th secretary management is still not giving a definitive answer on whether or not the december 15th have will be taken off the table so if there is one is this hard to nail down is to have will be taken off the table so if there is one is this hard to nail down how bad will face to be. Well no theres never going to how bad will face to be. Well no theres never going to be a phase 2 i think phase one is simply a way for trump to save face and be a phase 2 i think phase one is simply a way for trump to save face and to surrender in the trade war but still claim victory. And to surrender in the trade war but still claim victory. And peter is talking about the Federal Reserve and peter is talking about the Federal Reserve cutting rates yet again even while the market is breaking new record highs we saw they were cutting rates yet again even while the market is breaking new record highs we saw this record close yesterday on the s. And p. 500. 00 but this is the 3rd rate cut here. Talk is record close yesterday on the s. And p. 500. 00 but this is the 3rd rate cut here were talking about and you know weve been over this before and you pretty thoroughly demolished their argument about you know weve been over this before and you pretty thoroughly demolished their arguments for it but what are they saying now to justify this 3rd one stocks are for it but what are they saying now to justify this 3rd one stocks are hovering near a 15 month high. Well well see how they walk and hovering near a 15 month high. Well well see how they walk that tightrope you know theyre trying to pretend that these rate cuts are just some kind of that tight rope you know theyre trying to pretend that these rate cuts are just some kind of midcourse correction some kind of insurance policy but if you remember a course correction some kind of insurance policy but if you remember a year ago at this time not only was the fed raising rates but they had for a year ago at this time not only was the fed raising rates but they had forecast that they would continue to raise rates throughout 2019 i was the only one out there cast that they would continue to raise rates throughout 2019 i was the only one out there saying that they werent going to do that that they were going to be cutting rates not raising them but saying that they werent going to do that that they were going to be cutting rates not raising them but more than that its not just that theyre cutting rates theyre back to quantitative easing they have caught more than that its not just that theyre cutting rates theyre back to quantitative easing they have called off quantitative tightening reverse course theyre doing quantitative easing called off quantitative tightening reverse course theyre doing quantitative easing except theyre not admitting thats what theyre doing because theyre in barrus that have to ignore except theyre not admitting thats what theyre doing because theyre in barrus to have to acknowledge this but if you actually look at how rapidly the feds Balance Sheet is. Growing knowledge of this but if you actually look at how rapidly the feds Balance Sheet is growing now its actually growing faster when theyre not doing q. E. Than were then when al its actually growing faster when theyre not doing q. E. Then werent than when they were so right now as you mentioned the feds fantasy is basically if they were. So right now as you mentioned the feds balance he is basically exploding theyre doing 60000000000. 00 a month on q. E. Theyre injecting 130. 00 loading theyre doing 60000000000. 00 a month on q. E. Theyre injecting 130. 00 daily everything on my own daily report why is this fed injecting so much liquidity and daily everything on my own daily report why is this fed injecting so much liquidity into the system when they still find that nothing is wrong and right now where i think a very hard break to the system when they still claim that nothing is wrong and right now were expecting a very hard rate cut tomorrow. Just ignore what they say and look at what theyd cut tomorrow. Just ignore what they say and look at what they do look they are trying desperately to keep the air from coming out of do look they are trying desperately to keep the air from coming out of this wall but its not going to work i mean the bubble has already popped the only this wall but its not going to work i mean the bubble has already popped the only question is how fast is that air going to come out and when is the mark question is how fast is that air going to come out and when is the market going to figure out that the game is over and understand what they can figure out that the game is over and understand what the fed has been doing and get understand the true nature of this bubble of the fed has been doing and get understand the true nature of this bubble economy and whats going to happen in the future and suddenly are a lot of bubbles google out of me and whats going to happen in the future and suddenly are a lot of bubbles google actually just reported and while they be on revenues they missed on a p. S. So this is partial actually just reported and while they be on revenues they missed on a p. S. So this is partially they say they claim due to lower margin now that their margins have been shrinking for several quarterly they say they are. Same due to lower margin now that their margins have been shrinking for several quarters so is this concerning and given these diminishing returns is google still considered so is this concerning and given these diminishing returns is google still considered a high growth stock player now. Look all of these sata high growth stock player now. Look all of these stocks google included are dramatically overvalued because of the socks google included are dramatically overvalued because of the fed because of the Monetary Policy that weve pursued we have inflated fed because of the Monetary Policy that weve pursued we have inflated asset prices like socks and like real estate now there are a lot of companies asset prices like socks and like real estate now there are a lot of companies that are worth anything there are a lot of these companies that are losing money that have high market that are worth anything there are a lot of these companies that are losing money that have high market values because of the fed now google at least makes a profit but in todays interest values because of the fed now google at least makes a profit but in todays Interest Rate environment the present value of those profits has been inflated by the fed what this trade environment the present value of those profits has been inflated by the fed what the fed is trying to do is prevent those asset prices from coming back down to earth that is trying to do is prevent those asset prices from coming back down to earth but for a healthy economic recovery thats what we need we cant continue to but for a healthy economic recovery thats what we need we cant continue to have over priced assets you know dollars from put out a tweet today which is envious of the you have over priced assets you know dollars from put out a tweet today in which he is envious of the europeans and the japanese because they have negative rates and he says this is great you know they get the japanese. Yes because they have negative rates and he says this is great you know they get to borrow they get to be paid to borrow why cant americans get paid at the borrow they get to be paid to borrow why cant americans get paid to borrow what trump is overlooking is who is paying the bill who is stuck with to borrow what trump is overlooking is who is paying the bill who is stuck with the cost its the savers that should be getting paid by the borrowers who are bought that cost its the savers that should be getting paid by the borrowers who are borrowing money its the citizens who are going to end up losing because theyre financing our money its the citizens who are going to end up losing because theyre financing the loans but all of this is producing mal investment its helping to expand loans but all of this is producing mal investment its helping to expand government at the expense of the real economy and peter government at the expense of the real economy and peter just to play devils advocate for a minute here looking at one indicator and u. S. Economy consumer just to play devils advocate for a minute here looking at one indicator and u. S. Economy Consumer Confidence it dipped in october and the latest survey and theres also good reason or confidence it dipped in october in the latest survey and theres also good reason to believe that this phase one trade deal is a lot of hype and may very well still not happen so is there an argument that the fed to believe that this phase one trade deal is a lot of hype and may very well still not happen so is there an argument that the fed rate cut. Couldnt. Be longer exist in conference that in the loss of confidence in the event that this trade deal doesnt go through. The one thing thats in the event that this trade. Doesnt go through but look the one thing the rate cut is not is prudent its a desperate attempt again to keep the air from coming out of the blue rate cut is not as prudent its a desperate attempt again to keep the air from coming out of the bubble to maintain false Consumer Confidence you know consumers are confident bubble to maintain false Consumer Confidence you know consumers are confident despite the fact that the economy is a disaster they dont have any money they have a lousy job despite the fact that the economy is a disaster they dont have any money they have a lousy job they have no savings theyre loaded up with debt but as long as they can keep on bob they have no savings theyre loaded up with debt but as long as they can keep on borrowing money to buy stuff they cant afford with money they dont have for some reason they are owing money to buy stuff they cant afford with money they dont have for some reason they remain optimistic and you have all of this hype coming out of wall street remain optimistic and you have all of this hype coming out of wall street coming out of the media to try to encourage all of this falls off the optimism coming out of the media to try to encourage all of this falls off the optimism the fed plays into that i mean the fed keeps talking about how the economy is in a great plays the fed plays into that i mean the fed keeps talking about how the economy is in a great plays even as theyve got on life support so eventually the consumer is going to figure out even as theyve got it on life support so eventually the consumer is going to figure out just how bad the economy is unfortunately its going to be too late for him to do anything about just how bad the economy is unfortunately its going to be too late for him to do anything about it and hes going to be blindsided but i think its the investors who are in for an even more pain that its all hes going to win to make the blindsiding but but i think its the in that last thursday were in for an even more pain. Peter schiff and people awakening. Peter schiff of Euro Pacific Capital thanks so much for joining us. Our pleasure Euro Pacific Capital thanks so much for joining us. Our pleasure. Shares a Virgin Galactic founded by Sir Richard Branson begun trading on when much shares a Virgin Galactic founded by Sir Richard Branson begun trading on monday morning at a total valuation of 2300000000. 00 after a merger with social com de morning at a total valuation of 2300000000. 00 after a merger with social capital ahead of sofia this i. P. O. Makes Virgin Galactic a Ticker Symbol as well ahead of sofia this i. P. O. Makes Virgin Galactic a Ticker Symbol as g c the 1st ever commercial space by company to be listed on a public Stock Exchange the 1st ever commercial space by company to be listed on a public Stock Exchange the company so far has completed 2 test flights using spaceship 2 vessels the company so far has completed 2 test flights using spaceship 2 vessels this i. P. O. Raise much needed funds for a Virgin Galactic as they attempted to test out an uncharted mars i p o raised much needed funds for a Virgin Galactic as they attempted to test out an uncharted markets the company has yet to turn a profit and incurred net losses of 86 point that the company has yet to turn a profit and incurred net losses of 86700000. 00 in the 1st 6 months of 2019 shares rose as high as 12. 00 and 7000000. 00 in the 1st 6 months of 2019 shares rose as high as 12. 93 both closed down at 1175. 00 the space race is heating up as ours in 93. 00 but close down at 1175 the space race is heating up as Virgin Galactic now competes with Jeff Bezos Blue Origin and a long must face x. Virgin galactic now competes with Jeff Bezos Blue Origin and even must face x. A report in march estimated that Space Tourism has a potential market cap of 3000000000. 00 a day a report in march estimated that Space Tourism has a potential market cap of 3000000000. 00 a decade from now even though currently its still at its nascent phase. A decade from now even though currently its still at its nascent phase. Thats it by this time you can catch a boom bust on direct t. V. Channel 321 to snap thats it for this time you can catch boom bust on directv channel 321 dish network out to 84 a streaming 247 for the t. V. The free t. V. Ad tell it to something that worked out to 80 or a streaming 247 on the t. V. The free t. V. Ad tell it to something that or you can always catch us on one at youtube dot com slash school bus r t c next or you can always catch us i want you to dot com slash boom bust r t c next time. During the Great Depression which. During the Great Depression which mr remember there was most of the family were working class old mr remember there was most of the family were working class and it wasnt it was bad you know much worse objective listen today but there was and there was and it was bad you know much worse objectives listen today but there was an expectation in the fishing for going to get Better Things are going to get better. The real sense of the of this of hopefulness theres 1st a day. To day to day i was in america where shape by the turn principles of concentration of wealth and power. Principles of concentration of wealth and power. Reduced democracy attack solo duality engineer reduced. Democracy attack solid doubt engineer elections manufacture consent and other principle holds according to elections manufacture consent and other principle holds according to no im jones to one set of rules for the rich opposite to no im jones one set of rules for the rich opposite set rules for. 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Look good with a show showing at the blue chip a skeleton is lost when the chips dont you think it will show the movie to ship a skeleton is lost when the church. Has nickel ship the movie you have the same sort of. Bolts of shipping. You have the same sort of. Bolts of shipping. Me up and most of the book hit the wall with the books and you will not step up and most of the book hit the wall with the bus and you will still lose you know so i dont know what that or. Most you know i do know what the war. Was the latest news in the past. Because. It was the latest news in the us. Boys and all right so yeah thats books. Boys and. All right so you have put this was going to sort of lyricists really syringe through this was going to sort of lyricists releaser in the story yeah hopefully it doesnt. Fulfil it doesnt. Headlines in r. T. Represents the Syrian Government the opposition and headlines in r. T. Represents the Syrian Government the opposition and society meet in a bid to bring peace to the war ravaged country. Detained american journalist claims he was arrested on false charges of society meet in a bid to bring peace to the war ravaged country. Detained american journalist claims he was arrested on false charges with the so for his reporting on that then why in the opposition violence we hear the so for his reporting on that then why in the opposition violence we hear from his lawyer it was. Access for a phone call from his lawyer it was. Access for a phone call to contact an attorney or its family these charges are blatantly false contact an attorney or family these charges are blatantly false highly inflammatory. He is heading for a general election this. Is heading for a general election this parliament approved this bill seeking to december the 12th to break the element of truth in this bill seeking to december the 12th to break the