Press well thank you so much for joining us today. Glad to be here no no i want to start with the fetid signaling they dont want to alter rates over the next decade does this point to the central bank thinking were out of the weeds of this economic downturn or is it more of a fear that low rates may be the new normal or are they just trying to stick to President Trump what do you see going on here. I think theyre marching along a very narrow law and they are listening to President Trump even in ways that most economists think they shouldnt but theyre also trying to show that they havent least a little bit of independence left so they dont just look like a chorus of mr trumps so i think thats what youre seeing its clear that the American Economy doesnt need more cutting of Interest Rates because of the danger which has always been there that this kind of flooding the economy with cheap money with more money produced always carries the risk that that money will suddenly start to look to buy goods and services and give us the inflation that could run quickly out of control theyre worried about that its not there yet they worried about it in the past but theyre still nervous and i think thats why there is at least a month independence not to cut the rates which mr trump wants only because he needs to goose the economy in preparation for next novembers election or professor i also want to get your input on the u. S. In ca which was agreed to on tuesday by members of congress we explained on tuesday that the u. S. In ca its really not a vastly better deal than nafta listen to this. Answer to lucy House Democrats have not given us a significantly better deal than nafta and President Trump hasnt either and heres the most important reason why because nafta decimated the Manufacturing Industry in the United States according to commerce secretary wilbur ross the us in ca get this is expected to create 176000. The new jobs with the possible possible 589000 new jobs created over the next 5 years compare that with nafta which according to the bureau of labor and statistics cost 4500000 u. S. Manufacturing jobs. So at the end of the day everybodys patting themselves on the back how proud they are of this new deal and how its a victory right the democrats are saying its their victory present terms as his victory but are people ultimately going to be disappointed that the u. S. In ca really doesnt change manufacturing in the u. S. Or really across north america for the better. Yes let me go out on a limb because i really dont believe in predictions but here im so confident i will tell you this agreement will make no significant difference the only reason we have it is the following its mostly political theater 90 percent theater 10 percent and im being generous substance let me explain what mr trump needs and wants is the theater that he is tearing up old agreements that were good for us and substituting new better ones see hes the champion hes making it better the democrats werent going to give him that what they were saying was we need more protections for labor for the unions for the working people who were decimated by nafta ok heres what the deal was the democrats wanted to show theyre not just impeaching the president theyre doing useful things so they finally agreed to the better language for working people than the old one republicans were happy because mr trump can say he got the new agreement the politicians are happy even the unions are happy because they got better language but heres the key thing nothing matters unless its in force the new language to protect workers has to be enforced and the enforcement is left to the mexicans who dont do that at all and the im. Americans under trump who look the other way and thats not going to change so youre not going to see enforcement and the extra language nice as it is is not going to make much of a difference and the continuation of the of manufacturing jobs in america will continue because this is mostly theater and not real professor wolf i dont want to get too grandiose here with you i dont like predictions here but what would have been the proper way to handle this renegotiation of nafta then because we saw everybody was unhappy with nafta and now really everybody appears to be happy with the u. S. M. C. A. So in your opinion maybe one maybe not everybodys and have nobody yet right although theres a lot of that but yeah but what in your opinion would be the way to move this forward and actually make a better deal while still continuing that trade deal with the new north america. Well let me respond with a little bit of history when nafta was passed it was passed by mr bill clinton as president with the support of the Business Community and all these glowing reports like you just began this program with were going to add millions of jobs were going to do this its a win win for america for us mexico and canada none of that panned out that was the self congratulations of the people who cut this deal who were answering to a few industries that benefit thats all that has happened again if you really wanted to change the situation for what its been you would have to sit down and really work with all of the industries all of the labor unions and all of the consumer watchdogs and the ecological none of that was done i dont know if you paid attention the enough to catch the detail i will be caught just now that most of the specific language still has not been released to the public why not because the people who made this deal dont want us to see how little has changed how many voices were left out of the conversation if you want to make a real agreement youve got to bring all the stakeholders to the table theyve never done this and they didnt do it this time either and it is important to remember that as you mentioned this was all run under president clinton but it started under george h. Bush it was all kind of drought and together it was a bipartisan debacle before yes like it did the bipartisan debacle again host of economic update professor im sure wolf thanks for talking to us but stick around were going to talk to you is a little bit later in the program on another subject. Well the. Boeing 737. 00 max will not be taking to the skies until at least early 2020 according to federal aviation administrators chief steve dix that the head of the u. S. Regulator made the comments ahead of testimony in front of the u. S. House transportation and Infrastructure Committee on wednesday during the hearings the administrator said the f. A. A. Is taking the lead on the issue for the 737. 00 max return to service the f. A. A. Fully controls the approvals process and is not delegating in anything to boeing we retain authority to issue air were going to certificates and export certificates of airworthiness for all new 737 Max Airplanes manufactured since the grounding. In the 737 max was returned to service it will be because the safety issues have been addressed and pilots have received all the training they need to safely operate the aircraft. The 737 max has been ground in since march of this year following 2 deadly crashes in the hearing analysis from the f. A. A. Was released showing that after the 1st crash regulators saw a high likelihood of future crashes but decided to allow the 737 max to continue to fly. Well the troubled ministration has issued a new round of sanctions against iran hitting irans Biggest Shipping Company and Largest Airline washington claiming that the 2 companies are helping to run develop Ballistic Missiles in a violation d of existing u. S. Sanctions secretary of state mike bump a announce those things since on wednesday on the Islamic Republic of iran shipping lines and on the air says the move will quote put the world on notice that those who engage in illicit transactions with these companies will risk exposure to sanctions for themselves saying quote these most recent sanctions are just the latest move by the Trump Administration though when a campaign aimed at persuading iran to replace the 2015 Nuclear Accord which was abandoned by President Trump trump says he will have open talks with iran the to run refuses to engage while there are still they are still under sanctions. Time now for a quick break behave here because when we return to wild ways c. F. O. Has been held by canadian authorities for months but has now won a court fight to see more documents about why she was arrested in the 1st place well break it down and as we go to break here you numbers at the close. Match prizes financial Survival Guide stacey lets learn a salad fill out lets say im looks like it and youre curious on grease on face of the fight wall street fraud thank you for helping. On the story thats true. Slavery. A little bit of let me. Ask i would name will. Pick i could come critic and it could not trouble getting loans to show more than. You love who you know nothing. To do make good to see because the ones who come. To who want to have all of the kook on the scene do it in the out now as you. Know most of the people focus. On you and those 2 moons who moved in with whom much of this news to learn and to for not. Who would you hire tied to use into doing. What you. Want to meet you has on the net. Is youll be via reflection of reality. In a world transformed. What will make you feel safe. Isolation because you dont see. Are you going the right way or are you being that so. What is true. Is faith. In the world corrupted you need to descend. To join us in the death. Or remain in the shallows. Welcome back this next story is bizarre so stay with me here but u. S. Lawmakers are pushing ahead of new sanctions intended to block the completion of a new pipeline constructed to carry russian natural gas to germany but meet the baltic sea its called the nord stream to pipeline it is one of europes Largest Energy deals but lets be clear about this because germany and russia have an agreement to buy and sell natural gas to each other right and yet the u. S. Is going to impose sanctions on the Companies Providing pipe Lane Services in order to stop the progress of this pipeline and it gets better because this round of sanctions are included in the 738000000000 dollar 2020 National Defense authorization act again the claim is that this is a quote geo political gambit by russia to strengthen his grip on European Energy markets in quote or so writes the wall street journal. And now ben this is a bizarre story as you said because it for one it seems like youre sanctioning a business for a military defense bill right. But there was actually no military angle to theres no military angle to it i suppose the administration pertaining to its National Security but its not National Security look saying sions and i have a lot of issues with how sanctions are used to begin with but sanctions are supposed to be used to deter bad behavior by a nation state or companies within that nation state right were talking about like Nuclear Issues and those kinds of things thats not whats happening here in this case it is as bizarre as to say russia and germany have worked out an economic agreement to provide natural gas germany has actually been contesting this with the us asking them to not impose these sanctions because they want the natural gas russias trying to provide natural gas but the u. S. Is saying because we want to control natural gas were going to punish this Pipeline Company in order to deter and stop germany from getting the natural gas because it feels like germany is the one whos hurt the most out of this deal i mean russia feels the economic with gazprom but overall germany is the one whos hurt because they dont get the cheap natural gas they needed they dont get the natural gas a woman again this is an abuse of sanctions so lets go deeper on this and other energy to bring you back and Richard Wolffe host of the economic update so richard lets be clear about whats happening here sanctions again as i said theyre typically used at least thats what were told right to deter bad behavior by governments thats clearly not what this is russia is not forcing germany to purchase natural gas and again germany is actively lobbying against this action by the u. S. And on top of all of that as brit pointed out this is part of a National Defense bill what say you. Well i think this is remarkable because its a kind of tectonic shift a major shift the Republican Party and lets remember that what mr trump is the leader of now has traditionally been the against the government interfering in the economy the government is not supposed to pick winners and losers the government is not supposed to levy heavy taxes which is what our of so are there a kind of tax and yet here we see a government of republicans actively using government interference in this case particularly targeting a country that were not at war with that is an ally of ours germany particularly targeting a particular company as if it had the right to do that let me make sure that your audience our audience understands in every major european newspaper this is seen as an aggressive act of Economic Warfare by the United States against germany and russia in this case against argentina and brazil a couple of weeks ago with those tariffs against the chinese as we all know this is the United States no longer playing the role of the leader of a globalized interactive world where business is encouraged this is the United States hunkering down punishing everybody it feels like for reasons that are very hard to understand and looking for all the world as the roles state that is on doing the Global Economy in the hopeless effort to once again gain some kind of control they imagine they once had this should concern americans because of the rabid kind of changing mentality of a state that has to. Protect itself all the time with these aggressive actions very dangerous yeah and just following up on that so you make a good point about republicans right so President Trump talks about not being involved in all these conflicts around the world and yet he is sparking conflicts on the economic front i mean this is really economic totalitarianism right where he essentially is saying in this case its about you know natural gas and energy but in other cases for the case of japan hes trying to force them to buy their new f. 2 from military contractors that are American Military contractors as you pointed out hes punishing argentina and brazil because theyre competing on the soybean front it seems like every place there is economic competition this president is attempting to use his power as president and again the National Defense bills to harm other countries economically and it seems like that is a very dangerous position to put the country in. Very dangerous its making us real enemies that video that went viral last week of the leaders of the european nato countries laughing at mr trump thats also a little sign but its a sign of leaders in the rest of the world beginning to take seriously that the United States from being the leader that they followed being the leader of the free world they like to call it thats over and its not just mr trump its not just even the Republican Party the Democratic Party is saying very little against all of this theyre busy with russian interference in elections theyre busy with impeachment but when this kind of aggressive transformation when the world looks to be threatened by the United States economically the democrats who ought to be an opposition are bizarrely quiet with a few exceptions and i think that makes the rest of the world worry that this kind of a shift runs deeper than mr trump and the republicans and that makes it even more dangerous for them and therefore for us and youre absolutely right because it does feel like the democrats are very quiet especially when we come into sanctions of another country and theyre supposed to be be completely against me not supposed to be a complete i guess but they tend to be completely against everything that trump says and thats what they do i want to make a little bit of a transition here to the oil markets now saudi aramco shares surged the maximum permitted 10 percent above their i. P. O. Price this week the saudi government is hailing this as a bin to cation of its 2 trillion dollars valuation of the state oil company do you believe that this company is overvalued or is it really the worlds most valuable company. While i think what youre seeing here is a speculation by the people buying into this company for the following reason saudi arabia is such. Major player in the World Oil Market that youre now going to have people owning shares in a Company Whose decisions will affect the price of oil and therefore the price of these shares all the shareholders are going to want saudi arabia to manipulate the quantity of oil in the world in order to boost its price therefore the companys shares and therefore validate their investment its as if a company could print its own money and theyre gambling that the saudi knows they have to do that otherwise people will sell that those shares they want to see the government taking the power it has to control the price and theyre gambling that thats going to happen the rest of the world will have to see whether they tolerate that because the rest of the world if they act together can only do the power of saudi arabia over all oil will they do it the answer is what will happen to the people hurt by Rising Oil Prices how powerful are they versus the saudis who are going to have every incentive now to jack up the price of oil and for the rest of us we will watch this game without being able to shape it except well have to pay the price of oil that is the result and were short on time i think 30 seconds its got to be a quick answer here but you know opec is trying to do that richard they are trying to right now work a deal to slash production and lower those numbers but us in the tories up in fact we just got a new reports showing us imagery is actually much higher than had been thought is the u. S. That when a wrench into that opec or opec plus plan very quickly. I think the United States is like every other country theres a interests who want the price down interests who want the price of and thats the fight that theyre having we all live with the consequences and have no real input on to this contest between contesting capitalist interests thats the rock truth of it. Professor Richard Wolfe thank you so much for your time appreciate you doing both segments with us today no problem glad to do it. The chief Financial Officer for awhile way has won a court battle to see more evidence related to or arrest many 10. 00 was arrested and detained in canada a year ago at the request of the United States where she was charged with bank fraud related to wall ways business in iran legal journalist molly barrows contributor with a lawyer has more on what the Court Decision means for her case molly thank you so much for joining us today lets start off by asking the simple question what are the details of this ruling. Well to get into that tale a bit about the case made of course says she is innocent of these Bank Fraud Charges that her legal team is fighting this extradition from canada on the grounds that the u. S. Is using it for economic and political gain she also says canadian authorities unlawfully held searched and interrogated her to collect evidence on behalf of the f. B. I. And thats how we get to this ruling because it really centers around so that evidence in particular maine told Canadian Police the passwords to her Electronic Devices like her i phone and her i pad because she says she thought it was part of the border check requirement but Canadian Police and gave some of that identifying information about her electronics to federal agents in the u. S. And shes like what so to prove her claims making ass canadas attorney general to release more documents related to events leading up to her arrest especially any communications between canadian and u. S. Law enforcement so in this ruling a Supreme Court judge in British Columbia agreed with her up to a point said there was evidence to her claims or at least they could see where there was some evidence gaps in that in the documentation so she agreed to let some of those documents related to her arrest be reviewed and she didnt say all the documents she didnt necessarily address the allegations that canadian authorities abuse the legal process. But she said because there were gaps in that evidence that needed to be considered. Canadians attorney general now needs to review that Court Decision and to determine which documents fall under the george judges order to be reviewed and should be released to mainz legal team so thats basically what it is the judge agreed with her yeah youre right theres some sketchy communication between the 2 thats my word not the judges but yeah you can go ahead take a look at that now its up to the canadian attorney general to decide which of those documents ball under that ruling that she can look at theres a couple of really interesting things about that including the fact that. Originally thought that she was just being asked to go to a secondary screening area and they did not notify her for some time that she was actually going to be arrested or charged with anything so it was really done in a way that would seem to be deceptive and i think there was videotape that indicated that as well but how is her arrest affected what we do business in canada and the in even in china. Well its interesting because it is such a political lightning rod right now of course as we know while way is a private company but experts say it still plays a crucial role in chinas Strategic Interests overseas and according to canadian news reports a new report shows that a growing number of canadians have soured on the company in china as a result basically because of the tearing relationship between the 2 countries not long after mengs arrest last december china arrested and is still imprisoning 2 canadians for spying while the technology also wants to build a 5 g. Mobile network in canada but the majority of people polled think ottawas shouldnt do it they should reject the companys big keep them out and also a higher number of people so they had a more negative review our view of china in general than in years past you also had Prime MinisterJustin Trudeau they wanted to take a harder stance on china after he tried to sign a Free Trade Agreement a country that came to an abrupt end so theres just a slew of problems that basically have some canadians going after we dont really want to keep china at arms length and even in china is not getting a lot of sympathy shes considered a princess if you will because shes the daughter of the founder of the company which is already being criticized in. China for overworking their employees here shes being held under apartheid house arrest in a 10000000. 00 mansion one of 2 that she and mann coover and theres still a controversial case of another former huawei employee in china thats making a lot of headlines there when the company imprisoned him for allegations of extortion so does a lot of unrest in china theyre not happy about it her extortion hearing is next month. Tribute to americas lawyer thank you so much for your time today and that is it for this time you can catch boom bust on youtube dot com slash boom bust archie see you next time. Thats in the individual i think very much i have to do what i think is right i have to fend to defend my values have to defend my principles and if i feel the state is not doing it according to what i think is the right thing then i have to stand up and say its not good enough and if i as a humanitarian feel that the next to me is not respected and treated in a dignified way then i have to also stand up in this regard so yes we have to do it despite that it is maybe a very long term fight and we are not necessarily winning this. Facebook and google started with a great idea and great ideals unfortunately it was also a very dark so. They are constructing a profile of you and that profile is real its detailed and it never goes away turns out that google is manipulating your opinions from the very 1st character that you type into the search bar it will always favor one dog food over another one comparative Shopping Service over another. And one candidate over another they can suppress certain types of results on what they think you should be seen if they have this kind of power then democracy is an illusion the free and Fair Election doesnt exist the more we give them the sooner we are all. Pressure expels to german diplomats in a mirror of response to the lid i made a spot. Russia could be put on the u. S. List of state sponsors of terrorism thats under a new bill making its way through congress. And the Chinese Restaurant in new york by a white woman shuts down off the chest 8 months amid a clash of a Cultural Appropriation once again this is a busybody noir white liberal preoccupation who think they have to police the world and stand up for all the poor suffering minorities out there the problem was that the owner did indulge in a few stereotypes. On time magazines person of the year in 29000. 00 is