The last 6 months 8 top russian universities and Research Institutes have announced or expand a partnership with way with a focus on advancing the ai ecosystem neural nets data storage and processing. This is faster this back and forth that weve seen with way the u. S. Has taken a lot of action against them has this actually affected their business at all so so far in the latest Earnings Report no it really hasnt always still continue to expand its 5 g. Coverage worldwide including europe where the america has tried to block all of them as well as within china has expanded its 5 you coverage as well as they sold out does like hundreds of thousands of their phones and basically tripled their phone sales in the last quarter than what was previously projected so this entire polarized between us versus china this actually created a lot of nationalistic feelings towards hallway where people were customers who previously preferred apple i phone now made the conscious decision to go into a National Phone such as well way. And weve also seen in europe especially in germany where theyve said were not going to rule out while away from using them in our. Capabilities as they start to implement those as well now theres another question i do have on this is the Banking System now they want to drink drain them out of u. S. Banks is there a precedent here so there is and this is this is as they said this is the Nuclear Option so by banning them from the u. S. Banking system this essentially means you cannot transact with u. S. Dollars companies cant pay them for their services in u. S. Dollars and this is here to has been president previously. Sanctioned russias resell company which is one of the largest Aluminum Companies in the world also russian all it darts iranian politicians and venezuelan drug traffickers so thats the list of everybody who has been on the s. And d. List previously and probably would represent one of the Largest Companies ever to make it on to that list and were going to see what goes on here and this certainly isnt the end of the wall way versus the u. S. Debacle. And once again the back and forth between trade deal and no trade deal has finally landed on no trade deal seriously after 16 months this should have been obvious to people especially people who saw the profession is to bet on the market direction and actually have money on the line but no equity saying tuesday after President Trump suggested he may want to delay a trade deal with china until after the 2020 president ial election markets hit their lows after the White House Reporter plans of moving ahead with this summer 15 tariffs on chinese goods tech names lead the market lower as volatility is back sending the s. And p. Down for its worst loss since the october analysts have remarks several potential reads on trumps comments one of which is that hes simply raising the stakes as a negotiating tactic indicating to china that he is under no pressure to get it done meanwhile china responded the u. S. Appears to be back peddling in trade talks as officials threaten tariff hikes the director of Chinese Foreign ministry in her latest press conference compared. I can pay out to a mentally ill woman shambling sal a character from the novel who keeps repeating her stories over and over again you know kind of like hoda are what she is illustrating is that pompei im trying to have been repeating the same rhetoric over and over again for 16 months promising the markets that a deal is close to but never actually delivering anything we pointed out this dichotomy 2 weeks ago when we said the us was unusually optimistic about a deal with markets pricing it in already well over on the china side they were more subdued pessimistic saying that there was a lot more work ahead of them in order to finalize a phase one deal its starting to look more and more like a trade war will be a semipermanent asset of Global Commerce throughout 2020. And france of the united then the rest of the European Union said they will respond if the United States follows through on a threat to impose tariffs of up to 100 percent on imports of 2. 4 1000000000. 00 in french good the threat from the u. S. President donald trump follows an investigation that found a French Digital Service Tax would hurt Us Tech Companies and could escalate an ongoing trade dispute between the e. U. And the u. S. During a meeting in london for the nato summit with french president emanuel mccrone President Trump defended american tech giants. You know there are you going to be ok but if you think you could do when people are going to see that theres a need for me thats ok if youre really going to do. We want to get some air youve got to be sure this is what we want to see and thats not the some of the. Meanwhile french finance minister bruno the mare claims the digital tax in question is not particular discriminatory to u. S. Tech companies. Some say they want to get the sanctions would be unacceptable we question the legal analysis by the u. S. Authorities just a National Attack on digital giants weekend i said so yesterday the u. S. Trade representative says this. Absolutely digitalize he wouldnt be going to do complete days including u. S. Companies but also a syringe european and. The u. S. Has already imposed a 25 percent tariff on french wine and cheese in response to the block support for plane maker airbus to break all this down the scuffle between the u. S. And the e. U. Were joined by hilary ford which board member of the British AmericanBusiness Association now its great to have you here as always hilary you heard it yourself president is no fan of those trump is no fan of these Tech Companies but he wants to tax a b. Doesnt want to going on here so what do you make of this whole back and forth the tit for tat that we have seen between the e. U. And the u. S. And especially france over trade well couple of things to your 1st point obviously for once the shows that really isnt just out for himself i mean the Tech Companies are extra sectionally biased you can look up any topic on any subject the tech the changes like google that obviously facebook puts out nothing but news so i think is rather magnanimous of him for once and we dont often get to say that so very magnanimous but 2nd point though this is definitely a hit on American Companies the sentiment generally of fragments is that you know this is these terrible u. S. American Companies Even that benefits us citizens so the crux of the issue is the dire circumstances d that president finds himself in hes not popular at home he has about a 62 percent disapproval rating so whats he going to do he needs to find an external enemy who better to look at the tax than American Tech Company and actually 63 percent 63. 4 percent of all of the global unicorns these big Global Companies are u. S. Companies so 13 percent do come out of china but 3063. 4 percent according to the Marshall School of Business University of South Carolina so it is about the u. S. Company so is it on but it but in your opinion is it unfairly going after u. S. Companies or. Or is it just the fact that u. S. Companies happen to be the big tech giants well actually yes its not and yes its not my opinion that if i were to say and ill quote you the Washington Post that all of the 30 companies this will tax the majority are American Companies so again theyre not saying lets go off to American Companies it just so happens they are and by the way they could be a lot more french high Tech Companies if they did not stifle entrepreneurship ship and if they didnt have so many regulations and they didnt overtax us citizens maybe wed have more high Tech Companies coming out of france so now this French Village tax has been quite a contentious issue so why are french regulators so set on taxing Tech Companies in particular rather than focusing on say any other sector well you know what im christy because its an easy target because there are no products there its difficult to sort of identify and so is their services and also again to my point because the majority of them are american without actually pointing and saying now were going off to the American Company it is almost like a soft way from a crumb to try to dig himself out of his fiscal ditch that hes already in weve seen these existing tariffs that are already on french goods at this point are they doing any damage to the French Economy or even the european economy or is it really just hitting the u. S. Consumers as weve seen a lot of it is actually hitting both in france according to c. N. N. Both louisville and. Tennessee their stock is down 2 point one percent and stock and is down another 2 percent in paris so its hitting those stocks the other thing you look at i look at instead of just the short term consequences of maybe some towers maybe not lets look at the long term consequences if and when it looks like theyre going to 100 percent taxes go on french luxury goods American Consumers at least at the high end of the market maybe they dont really care moneys less sensitive to them and that is to regular people like our spa when a bottle of burgundy is another 50. 00 doesnt that make your regular americans consumer and we are the number one purchases. All luxury goods does it make you think will instead of burgundy maybe i can go to one in california you buy a doctor or you buy some other California Wine so the unintended consequences i think the long term that the American Consumer might find alternate luxury goods in the u. S. Isnt that the purpose of tariffs in general we often look at the tariffs as a way of hitting those Foreign Companies but in reality its a long run situation where what youre trying to do is hurt that you have the American Consumers feel the pain and that way American Companies can pick up in the situation of course American Companies could pick up that slack yes exactly and if you go back to the old days i mean this isnt something new i remember when we had that you know maybe in usa campaign and then in japan they actually founded a town called to use usa so they can. Say so this is not a new subject yes yes and then the ultimate long term consequences are youre going to have a worldwide breakdown of trade and commerce theyre already starting to see that already this year well i dont know that well see break down what well see is well see strengthening of u. S. Markets because theyll be a strength in the u. S. And also i do think with obviously lots of things coming on the horizon you could see a strengthening of all the English Speaking speaking countries rallying particularly with what hes doing and he doesnt realize hes driving other consumers within the u. S. Products weve seen that the u. S. Is looking to impose further tariffs on the e. U. After of the ruling regarding air bus yes right now they already have 7500000000. 00 have been awarded to tariffs have been allowed via the w t o. Is this strain in the relationship and we were talked with there are no issues but is it straining the relationship between the u. S. And the e. U. I think it is that it is d actually what the w t o ruling found as to your point is that not only the french subsidizing but the spanish and german governments so thats what the ruling actually determined and i think the issue with the cio is a big issue and that is that many say that its unfair china should in was allowed entry in 2001 and maybe should have been allowed entry because they dont have free markets so what youre doing is youre. Actually splitting free markets against controlled markets and that isnt fair to the average consumer let alone a con amazing where we dont have the same subsidies to boeing as we do for the french very interesting here ford which board member at the British AmericanBusiness Association thank you so much for your time pleasure because the. Time now for a quick break but hang here because when we return Christine Legarde has taken the reins of the e. C. B. And she has already made some Firm Commitments for the central bank professor of economics im patriotic steve keen joins us from amsterdam to break down the banks move banks have come under fire around the globe and as we go to break here are the numbers at the close. Organized labor has been done in america and the average income for americans hasnt budged at all in 2030 years because they didnt neuter from their ability to compete for capital labor has no seat at the table labor has no seat at the central bank labor has been abandoned the jobs have been shipped overseas wall street now gets all the capital they get 100 percent of the capital every dollar printed by the fed goes directly to wall street now bypasses labor by passing away things. Up until recently politics were about policy preferences and ways to implement them that is not the case today your political views are now what define you as a person and there is a moral dimension bias against those who are not politically correct is the last acceptable form of discrimination this is the end of politics. You know world of big partisan lot and conspiracies its time to wait to dig deeper to hit the stories that Mainstream 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 were watching closely watching the hawks. Think you know because you know you probably wont be gotten your shoes from around why. Hes trapped in this tiny little wired we dont need a crate with him he will start reaching out into the wilderness pretty much anywhere near. Breeding dogs or caged in the interview lane conditions on puppy phone i mean 67 years you know theyve been locked up in k. You see no protection from the weather they know the cold air the rain the snow. They have no protection. Its. The cost to us puppy mills are supported by dog shows and most of the puppies that are coming from these large Scale Factory farming kind of operation its hard being still at stores even a Good Businesses are involved but. There has been a shocking amount of the organized opposition to adverts to increase the standards of care for dogs in commercial breeding facilities most of that opposition is coming from huge Agricultural Industries that have to deal with dogs dont buy dog on. Cyber monday shoppers set a record this Year Spending 9400000000. 00 online according to data released by Adobe Analytics sales this year easily eclipsed a record breaking 2181. 00 shoppers spent nearly 8000000000. 00 early estimates from adobe predicted sales of fall short of the 9400000000. 00 that was expected but retailers rallied late into the evening with shoppers racking up 2900000000. 00 of goods between 10 pm and 2 am and as we talked about monday sales via smartphone users made big gains breaking the 3000000000. 00 threshold adobes data found that consumers also spend 6 percent more per purchase than last year the top selling items include apple laptops Nintendo Switch consuls and samsung t. V. s toys from frozen to and surprise dolls also sold big adobe estimated Online Shopping throughout the Holiday Season will hit 143800000000. 00 from the beginning of november to december 2nd shoppers have now spent 81500000000. Italys largest Bank Unicredit is planning substantial job cuts as they promised Share Buybacks and dividends and creases for their shareholders the bank added that they planned to grow organically rather than targeting more big acquisitions unicredit will cut around 8000. 00 jobs or 9 percent of their workforce and close nearly 500. 00 branches through the year 2023 the bank said they would return 8900000000. 00 to shareholders over the same time period including a 2200000000. 00 Share Buyback on the news your credit stock is down slightly for the day but is down roughly 3 percent over the last 5 days you to credit joins the likes of h. S. B. C. And Deutsche Bank which have announced large restructuring plans this year including cuts of 1020000. 00 jobs respectively just this year alone banks have announced more than 75000. 00 job cuts mostly in europe do you do a slowing economy. European Central Bank President christie in the guard says her organization will be resolute in restoring price stability in the euro zone during her tenure in her 1st appearance at the European Parliament since taking the reins as e. C. B. President misled guard spoke about the weak economy in the block. Euro area growth remains weak with grooves domestic product growing by only point 2 percent quarter on quarter in the 3rd quarter of 2019. And this weakness has been mainly due to Global Factors as the sector mooste directly exposed to these Global Developments the Manufacturing Industry has been suffering the most misled garda said to hold her 1st Monetary Policy meeting at the central bank on december 12th the us been e. U. Has been unable to return to the target inflation rate of below or close to 2 percent despite intervention from the Union Central bank now to break this all down and what it means what and what we can expect from the e. C. B. Under the guard we are joined by a. Professor of economics on patron an Honorary Research fellow at University College london steve thank you so much for joining us today now Christine Lagarde is holding her 1st Monetary Policy meeting on december 12th as we just mentioned what can we expect to come of that. Very little. Theres been some standard change of the seat and the you see that since the whatever it takes me mario and im going to check and now the cause its the its the overall constraints on her which term and rather than her own personality Yanis Varoufakis made this point very well just recently that the does what the with the master tree and the lisbon treaty to give no choice but to do and then you know face within that prison with this crazy situation of negative rights and one is that it is you know come from but we know change a little of what was happening before that some national actually has to deal with a lot of the side effects left by her predecessor draggy so what are the side effects exactly of that you see it is also true of this policy and what can the central Bank Actually control to fix it. Well you can control the treasury and this is the real. Problem not only does it not have the treasury to backstop this happens with the United States treasury and backstop the Federal Reserve it also. Doesnt have any control over the fiscal policy where you can drive is not the same place tonight the economy and all with fiscal policy but of course the disco rules are constrained by the the straight ascent limit on deficits and the 60 percent is on government on Government Debt which means that she no economy can seem like its a profit state by having all obvious that the spending so a lot of the point you made about it being external factors thats false its fundamentally internal factors that the sonnet the was always de flash mary and the prediction that legally made back in 9092. 00 when the crossest the is because it was designed to make it worse has been literally blown out of the facts and now instead of finance ministers are now pushing back against the c. P. For their negative rates saying it is having a detrimental impact on savings and pension systems they want to hire but you know President Trump here stateside is big claiming that the fed didnt lower rates enough and blame fed chair drone powell for the deepening u. S. Manufacturing slowdown is voluntary possibly a policy just inefficient and effectual now. Yet always has been and only the hospital economics arguing that you can many middle i think the economy by changing interest right twice as much on the opposite direction to 2 already in the same direction isnt buying the process off inflation come down to lots of slots and save a lot of money and this fictional idea of a natural right of interest that would get the economy and the librium and eminently high as all and their fantasy. The theory that striving how they see the census policy is a theory a plan that doesnt exist and is awful. To some in this galaxy so its been active the only effective way to have a treasury that runs and runs a deficit which when its just most of the time because the deficit actually creates the money the private sector used to spend and because of the rules of the you make it impossible then it got the worst of this for all to see and it can strain Monetary System so would what they actually help to have an additional fiscal policy as facing the guy or lose him. House to late getting rid of the body it was constructed through the senate as an absolute ceiling to give you know if youre a pop ups the average deficit for the American Economy since not since 1900 has been into office and if you thats the average if you take out the wars its 2. 2 percent so the whole idea maximum should be 3 is a ludicrous construct and its all based on a fallacious they can all see coming out of new possible economics which of course of the mounting on fighting the theory leads to unreal rules to control a real economy and it necessarily causes Economic Disaster thats missing in europe by the time now speaking out about has many many complaints he had he recently lashed out at the european allies ahead of the nato and r. C. Summit claiming that they dont contribute enough so we have a lot of countries stepping up and putting up a lot of money. As if this is over this is exactly 131000000000. 00 thats a year thats a tremendous amount of money but its not enough. Does he actually have a valid point here are his he trust trying to exert more pressure and dominance they get of are the nato allies. Why theyre just money putting more pressure on obviously i mean the whole idea existence of night show is something that should actually question that is that it was there to constrain the size of the union to watch even though america still had like it exists inside the union follow the last 30 years ago its been busy increasing tension id rather say that the result rather than wondering about the consulate. Role that the main thing the trump is doing is the british prime to eventually balance strides around the world while he has another valued currency because the american dollar is the consummate national sprite and it should not. And i just illustrated by going to sit back and watch the. Fascinating insight as always steve king professor of economics im patriotic thank you so much for joining us today. Chinese students are now the smartest in the world in the latest try any l. Study conducted by the organization for Economic Cooperation and development 15 year old Chinese Students tested better in reading math and science and students in any other the 78. 00 participating countries in math and science by a significantly wide margin and in reading only singapore came close when rounding out the top 5 in each category china singapore macau and hong kong consistently place in the top 4 and a stony i came in 5th place in science and reading American Students on the other hand performed above the o. E. C. D. Average in reading and science but below in math on average across the o. E. C. D. Countries girls significantly outperform boys in reading by 30 points so with education being more important than ever in this new digital age the quality of education in the students will feed into the strength of the next economy now kristie when i see this and i read this all i can think is you know here is an american of course is that you know our Public School system has kind of started to fail but why do you think the Asian Countries are being able to kind of be superior in this regard that i think is more so they have stricter standards stricter standards across the board and thats kind of like the benefit of having like a lets just call it a communist country when they implement something they implement it wide across the board versus here in the United States you have state power versus federal power and things like that in every Single School districts very different everybodys independently operated and thats kind of like the pitfalls of a democratic country. The pitfalls of the democratic kind out are no doubt artificial and lots of thats why in america and last us talk about the last month when we looked at the economic employment numbers there was actually not enough significantly Skilled Labor workers across the board people actually couldnt have workers to hire that were skilled enough to work in the Tech Industry in the Health Care Industry pass today all of you got to go thats it for this time you can always catch boom bust on youtube dot com slash boom bust archie see you next time. Someone else chose seemed wrong. Just dont call. Me. Yet to shape out these days comes out to. And in detroit because betrayal. When so many find themselves worlds apart we choose to look for common ground. Ok in the special can somebody who can benefit so is going to the minute a. Book to get us to the gulf where. You thought the whole doping can russia think was over forget it initial part of your book you talk about through a couple of pressure we have the most real some of the models are going to. Russia methods eligibility for the International Competition so that state just includes events like the Tokyo Olympics and the future world cup in qatar if i am in the early as last. Year when you can go just as it was 4 years ago in moscow antidoping plavix at the center of the scandal so who tampered with the doping samples database and what does greegor you want you could have to do with it and you know im ugly shes stupid but it was dr paul doesnt mean you. Got the little spots were not used to push on the richest book youll ship by to expose me in the ocean touch a little to a little so the polish in a danish notebook. And this community there are people who believe that its ok to substract food on my table its really hard there are no jobs and you see that ive got kids and asked and as a parent. I can come up with lots of arguments theres a lot of conflict within the game between the teams most of the conflict i would say the most around money and most of them money is made. Close wynonie childrens cosimo each other is Good Business the state of california alone makes 6000000000. 00 a year of to prison complex just to get some point in your life where. You dont care and one of my cares about you so you dont care might anything. Us House Democrats really said their report in the next chapter of the donald trump impeachment inquiry outlining claims that the president have used his position for personal political gain. Nato leaders gather in the u. K. To celebrate the military alliance his 70th anniversary but while some hail its success others question its relevance today. And we have proven every day that you sit on see this. Is on joy. And its the neighboring logo and even though its. In the u. S. President tries to force the hand of his french counterpart in support of the military alliance and if the threat of crippling tariffs on french good stuff