Business boom bust broadcasting around the globe and covering the world of business and finance and the impact on us all ive been for and im christiane washington has less moving markets today one of mexicos top trade officials says that one of the biggest claims about the u. S. M. C. A. Isnt going to happen because then violate mexican law and sovereignty well explained. Friends new Prime Minister is ready to make good supporting parts of england that came out thanks for him wont break down Boris Johnson spending spree and do it well the back end of it is where the president is ready to airdrop the nations cryptocurrency to the public just in time for the holidays so how much is going to be given away and why is the coolest mother oh doing this weve got the details thanks for being with us on this very busy day a lot to get to and so we begin here with pushback on the new u. S. Embassy a trade deal mexicos trade representative now says there is no way that they will allow labor inspectors as part of the deal the reason for that because according to mexicos Deputy Foreign minister a mexican law does not allow it listen. Do you still. Use officials who are accredited at your embassy in council its in mexico as a laborer talc a could be may not in any case have inspection powers under mexican law. But that is. They he says that mexico will never allow quote disguised labor inspectors you know some of the last sticking points to get the deal done was in force ability of labor standards in mexico with something House Democrats a push for and an x. That was built into this agreement essentially put in place a tree that was presented and a proposed designation of up to 5 u. S. Experts who would monitor compliance were told with local labor reform in mexico so he sues mexicos foreign minister for north america push back hard against this and extending this quote the obsession of democrats with force mint is a unilateralist term meaning forced to comply cost blood was tended to with panels the legitimate way to enforce in both countries is with our respective laws and quote. And so you see mexico saying no this whole discussion about the idea that essentially inspectors would go into mexico would walk through factories would determine whether or not mexico is living up to standards as the u. S. And canada see fit he says its not going to happen and it makes sense because if youre talking about the sovereignty of mexico and what theyre doing they can have other countries coming in there determining whether or not you know they are in violation of this agreement exactly and of course ability is always going to be a problem no matter what kind of trade agreement you talk about whether its with mexico and canada or with china as were just about to break out into whats going to the u. S. Markets soar to record highs monday as a socalled phase one trade deal between china and the u. S. Boosted sentiment and relieve fears of another terror. This deal announced on friday after more than 2 and a half years ive been on and off negotiations well reduce some u. S. Tariffs on chinese goods in exchange for increased. Purchases of us ag more details have emerged from the u. S. Side now an 86. 00 page agreement which ranges from intellectual property to ag purchases where china is to buy up to 50000000000. 00 over the next 2 years raising total imports to 200000000000. 00 while u. S. Trade representative said that this deal is totally done absolutely quote china took a more cautious tone reiterating that this would be quote a huge challenge to fulfill those commitments made a statement focused more so on the broad principles of phase one and refrain from mentioning any specific targets during his press conference why well as multiple analysts pointed out the scale of these purchases seemed completely implausible given the slowing chinese economy the us is now asking for an increase in purchases over that of 2017 during the pretrained war times this is asking for a 110 percent year over year increase in purchases in 2020 which is obviously not visible meanwhile the u. S. Has still been unclear about how and when it will roll back other tariffs a condition that china has firmly maintained so it seems like this is only a trade deal for the public eye and to hold escalation it was merely to prevent things from getting worse because clearly compliance is an afterthought the u. S. T. R. Notes that this agreement quote allows each party to take proportionate response of actions that it deems appropriate in order to resolve disputes in other words if china does not comply with what looks to be an impossible target then us can accuse china of breaking terms and tariffs can go back up again. And now march 8th on trade deals involving the u. S. Were joined by Todd Horowitz chief strategist about the trading so is this concerning that we still have no real specifics from china on the terms of the trade deal and are the markets kind of getting ahead of themselves here because the narrative really hasnt changed and now it looks like we have more downside than ever if there are any hiccups in these terms and lets be real these times are impossible so its not really if its when. Well good afternoon you know look the markets are going higher regardless the markets have continued to go make your highs rigger or whatever is going on with the china the oh we dont know that what the deal is for sure and are still the negotiations and still could fall through however theres one fact that still remains in the world today theres really only one investment or investors are going to go to chase yield and right now its still the United States stock market so deal or no deal the market people are chasing you know u. S. Stocks and again it may be right it may be wrong but you know weve gone up basically 25 percent this year throughout all the talk of trade wars no trade wars im not sure and here we are still yet making yet another new high now again i believe the next major move will be down but that doesnt mean we cant go up 110 percent before the down move start. Yeah and to that point you know we have to look at humans in the you know the kind of the excellent stock market weve had all year long its gone up up up but part of that has not been puppet tyrian on the part of President Trump i mean hes on a great job whether you like him or not of being able to really talk the markets into moving without having to do a whole lot he would just say things are going to happen in the market comes up again and he said a pretty good job of puppets here in that but at some point do we not have to say if the china deal is a real deal there have to be terms to it it has to actually have tangible results that are good for the u. S. Economy in order to sustain that isnt that true or not no i agree with you 100 percent i mean look. The markets have done a remarkable job present troubles in a remarkable job and i think hes in a very good job in office but when you look at the overall markets again you go back to were also going to go with your money yes do we need a real deal yes we have to get a real deal but and our markets getting well ahead of themselves yeah they are but again unfortunately there is no does no way to say that theyre not going to go and as long as as long as the Federal Reserve and Central Banks around the world remain active participants and backing up these markets just look at japan from 1000 a night again is long these are going to keep giving free money to the big corporate that means that these markets are going to continue to go higher because were going to go number one and number 2 its the only game in town so its long as the fed continues to manipulate their rates and keep them under control in their mind because the free markets would justify higher rates but at the way it goes markets go either until that changes now lets go back to this issue of the s. N. C. And the concerns of the mexican trade official he makes the point and perhaps rightly so that this issue of compliance is about the u. S. Dictating terms to other nations nothing in this deal as mexico to inspect u. S. Factories so is this part of this agreement unilateralist term meaning forced to comply. Well you know i think you know were still in i think one of the big problems is is the house is still not voted on this thing right so i think that everybodys getting a little bit impatient that the deal isnt done i mean the deals are been done when it was when it was written it should have been done and recently as a couple of weeks ago we had everybody on board unfortunately when you bring the paul political issue into it it creates problems so now you know is mexico having 2nd thoughts about part of the oh they were willing to make or they try to negotiate more i think everybodys trying to force the house to get off their you know what in vote on it and get it passed so we can get this flow of goods going back. Between mexico and ited states and canada and i think thats more of this problem whether talking about inspections or all the other stuff i think thats really more of a a point of contention and a point of disappointment that is not done yet but doesnt this blow up the deal in some ways because look House Democrats essentially went into the president said nafta was the worlds worst deal ever he says us in cas a great deal than the democrats wanted to to declare victory over it by saying well actually were trying to put together the u. S. In ca it was terrible but we fixed it and the way we fixed it was we created these provisions that essentially allowed the u. S. To control they were standards in mexico and mexico says no no no were not doing that part of it doesnt that kind of blow up the deal on in terms of the House Democrats how did they save face by being able to still go along with it theyre trying to save face by either impeachment but that theyre trying to tweak things and make it harder but at the end its not going to work listen one thing we know right i mean were nobody wants child or slave labor but we cannot control labor because of rules and that will not get done and if they vote out that way thats the only way to is that would be their way of actually blowing it up and saying see its not going to work so i guess this is the bigger issue which is why it needs to be voted it was already agreed on by you know in principle by the 3 Major Players and if we could just get them to quit trying to screw it up which is what theyre doing wed be done to be over and wed be wed be shipping our grains and everybody working great back and forth throughout the 3 nations tahara started up on the tank thank so much for that day. Thank you so much. Boris johnson has a plan to invest in parts of england that heavily supported him johnson is telling newly elected m. P. s on monday that he will direct billions of pounds of investment into the midlands and Northern England again 2 areas who support delivered his crushing election victory last week reports indicate that johnson will use an 80000000000 pound fund to fuel an infrastructure blitz in those northern and midland regions the 2 major points johnson will make to the 109. 00 new conservative m. P. s that the government will start pouring money into parts of britain that had never previously voted tory and secondly to push ahead with briggs it on friday mr johnson will introduce the a new withdrawal bill which will pave the way for britain to leave the e. U. On january 31st it includes the Prime Ministers Northern Ireland protocol that puts a boarder in the irish sea. Well meanwhile Prime Minister johnsons pledge to invest heavily in Public Services will be crucial to meeting his Campaign Promises host of arties going underground afshan river written c. Files this report from london. 2019 british general Election Campaign was characterized by Political Parties on all sides of the spectrum announcing policy pledges that of course would impact on the treasury impact on the pound sterling and the impact on the deficit and debt of the british economy but now that Boris Johnson is going to even he seems to realize that his pledges for 33900000000. 00 pounds in extra public funding for the Health Service are going to be very very important to Health Service in britain stitching the fabric of British Society together its where people from all pluses meet and with society takes place unlike of course in the United States where you have the Health Insurance system but within 2. Only 4 hours the government or at least Senior Tories were talking about the introduction of a Health Insurance system and then the the even though spending maybe increased on Public Services it shouldnt alarm the city too much in fact share prices of City Companies involved in private contracting of services for public bodies has been a whole mark of British Society since tony blairs labor government so the fears are that this extra spending will merely find its way straight down through a rabbit hole to big corporations that are the private contractors that make the money from Public Services not only that but quite a few of these companies some of them even gone bust like karelian in the multibillion dollar bankruptcies the thing is as these services do not get good responses from the public so the political dimension multiplies as it were more blame is heaped on the Public Services and more privatisation is therefore called for and more Companies Get involved in Public Services in what its detractors call a vicious cycle so basically any public spending will benefit corporations in the city arguably more than the people who the services are aimed to help. Time now for a quick break but here because when we return men as well as president is ready to airdrop a nations turn a public just in time for the holidays so how much will be given away and why isnt it wasnt doing us weve got the details and as we get a break here the numbers at the cloud. Book about boeing made temporarily halt production of its problem prone 737 max jet well now the Aerospace Company stock is following legal journalist molly barrows contributor with here now with more on that molly thanks for being here. How big of a dip is the Company Scene right now and how much of this has to do with the whistleblower we heard from last week who essentially said that not only did both we know about problems with the max 737. 00 max but also the f. A. A. Knew about it and nobody did anything. Thats exactly right still a lot of questions surrounding those ongoing investigations of exactly what caused the 2 fatal crashes that contributed to the grounding of the 737 max the boeing shares did take a hit they fell more than 4 percent premarket trading to 328. 13 and theyre not the only ones being hit by this the companys biggest supplier spirit era systems their stock also fell 3. 4 percent spirit makes the max fuselage along with other parts now according to some media reports analysts are suspending production say that theyre suspending it that that happening will likely mean more significant charges for boeing as well as its main suppliers thats why youre seeing the hit in the stocks that theyre taking until now a lot of those suppliers have been shielded from the financial toll that has hit boeing the playmakers. Tinubu to make these jets even after they were grounded in march and so their suppliers were continuing to make parts because boeings been saying hey were going to get cleared by the f. A. A. To have this plane back in the air again by the end of this year and now it looks like thats not going to happen so other suppliers are also expected to be impacted by the this disruption if it indeed happens they are French Aerospace companies saffron in the u. K. Based Manufacturing Company sr and again the 737 was grounded after 346 people were killed in 2 different crashes and boeing and many other investigators are blaming a Software Problem that they say that they can fix it theyve been meeting regularly with the f. A. A. To do that but so far the f. A. A. Has not cleared them to allow the jet to fly again and it seems to be that after this latest meeting between the f. A. A. And boeing that thats when this decision to halt or slow production started reports of that started to surface so whats the latest on the production of the planes on the halt. We dont know for sure apparently word that may come after the markets closed today here in the u. S. But boeing is reportedly deciding whether to suspend it altogether or just continue to current production of the 737 max but we took a nearly 5000000000. 00 after tax charge in the 2nd quarter to compensate carriers for that flight but the total cost isnt clear yet they have not made some of the details of these settlements like with southwest. You know theyve not made that transparent to the public but the f. A. A. Zz top administrator has been telling the media that resort vacation of the plane would stretch into 2020 and of course that dash boeings forecast that regulators were going to sign off on the jet by the end of this year now it looks like that is definitely not going to happen so well find out more maybe by the end of the day again going back to that im sure thats going to have a huge impact on the reef certification as well right how do you as the f. A. A. Go back to recertify and the public trust that you actually are doing what youre supposed to be doing how this is affecting also boeings business with other Airlines Airbus seems to be making a big push here to pick up new clients. Yeah absolutely airbus a number of other carriers around the world are not only mistrusting of problems within the 737 max but also the f. A. A. Like that whistleblower indicated even after you had the 1st crash the f. A. A. Was slow to respond as far as grounding the 737 early signal and that there were concerns that needed to be looked at before they allowed other planes fly then you have the 2nd crash where there was a lot of mistrust if you will or discussion about where the f as priorities lie southwest is the largest operated 737 they havent released the details of a settlement but they did announce that they had reached one last week with boeing according to southwest to compensate the airline for some of the financial damage that was done by grounding that plane they didnt disclose the exact terms but they said they would share 120 5000000. 00 of it with their employees so a christmas bonus for those employees but certainly boeing is going to take this as we talked about with their stocks but its going to be interesting even though investigators are investors rather have lost some patience with the Company Analysts are saying this isnt going to destroy boeing by any sense of the word that once the plane is given the green light to continue production into fly again that youre going to see boeings cash reserves go right back up again the cash is going to start flowing so this is just a bump in the road according to some analysts but how big a bump were going to find out maybe more tonight with the whistleblower complaint as well dr Molly Burrows of the murders lawyer thanks so much for your insight on this. Thanks. When asylum president Nicolas Maduro is planning to air drop the National Crypto currency to everyone in the country as part of the Holiday Bonus men as well has government control of Digital Currency called the petro and men as well and citizens can all be airdropped happy petro which is worth about 30. 00 and in order to be eligible citizens will 1st have to sign up to the petro app so in short this is clearly a way of encouraging more venezuelans to download the government Crypto Wallet and to accept the government currency on the other hand the petrel app can then be used to exchange to other actual keep their currencies so in theory citizens could accept the petrol and then exchange it for a big one like one or even dash. And while petros be basically given away for free in order to incentivize users other all coins around the world have fared better the center for information and Industry Development in china released its 15th update of its crypto project rankings where it evaluated them based on basic tech application and innovation eos topped the list followed by a theory im trying on knolls and list respectively in the top 5 and with more on bring in jeff or men see i am at arca so meanwhile asia has absolutely no problems jumping on top of new technology unlike us while a social media backed ticktock is now apparently launching a joint venture with shanghai dont newspaper in order to develop block chain and power content delivery features so recent reports show that blocking technology is rapidly maternal and seeing wide adoption in china and japan so how is this divergence and Technology Capabilities going to play out 10 years from now when countries like the u. S. Fail to lets not even say adopt lets say they havent even innovated get at this point. I dont think the issue is whos 1st you always need some innovators you always need some pioneers to test new technologies little bits of a. Whos being 1st i think is making sure youre not last so while the u. S. You know appears to be falling behind or maybe isnt as progressive as youre seeing over asia theyre monitoring this very closely and the regulators have been talking about this the f. C. C. Knows all about this they are certainly aware of what is happening here and i would say were falling behind so much as were not aggressively being the leader but certainly as you start to see more breakthroughs and as we start to see some real success whatever the case that may be i think the u. S. Will be there just as quickly as many other major developing countries so 2019 was a pretty good year for big points up over 100 percent if you go back year to date obviously its still lower than what it was in 2017 but its done well in 29000. Breaking out of the 7000. 00 range were getting been trading there for the last month what do you think is holding it down and can we attribute any of that to the recent inflows in the u. S. Equities where we are now at all time highs. I think you can i think i think because it has trouble sticking with the same theyre divided out i think thats thats normal for an emerging asset class where were trying to figure out what is the theme or what is the sticking points that really have long lasting repercussions and earlier this year there was certainly the narrative of you know inflation that was creeping back into the picture you also had devaluations by the chinese you want in some other currencies these were all things that were there were positive backdrops for new from money to flow into bitcoin into other Digital Assets but when equities are up 27 percent year to date youre not going to get a lot of rotation out of equities into Digital Assets i think you need a little bit of a shock or some sort of a hiccup maybe like what youre seeing in the repo market to get people to Pay Attention to other Asset Classes where its the same thing with alternatives youve seen money coming out of headphones you see money coming out of other alternatives as equities have done really well generally youre not looking to new Asset Classes until theres an impetus and right now over least over the last 6 months you know the surely has made a lot of pressure on investors to get into anything new im so glad you brought the repo market because right now the fed is once again ramping up its repo purchases and its just about to inject at least 425000000000. 00 of nonexistent money into the economy couple that with q e 4 and youre looking at an injection thats about 3 times the size of the entire market cap of a big point in a single month so isnt that alarming should we be concerned about this isnt this a big catalyst for big going. Yeah it definitely is i mean you know you can call it anything you want and call it nike you can call it q. E. 4 you can say its just you know its tapering the repo market but the reality is its a leverage and leverage comes from money printing and money printing means that theyre debasing the u. S. Dollar and that is all very positive for bitcoin i think we should be scared i think you know in general people tend to ignore news like this for one of 2 reasons right either its its either its ignorance or its incentives right from an aider and standpoint its often easier to just assume that problems like this will eventually go away and be swept under the rug and its just easier to hope for that than to actually learn about whats happening from an incentive standpoint if you work for a large bank or you work for a Large Financial Institution your stock is up 4050 percent year to date you just are really incentivized to try to figure out whats really happening here you know and i think the big problem i mean i remember back when i was a trader at Merrill Lynch on the Corporate Bond one of the most senior traders there told me theres no incentive to ever go short the market because if youre right youre not going to get paid anyway and if youre wrong you know youre going to get paid so whats the point most will go along and i think thats the entire view of most Market Participants right now is that theres just no reason to fight the fed theres no reason to fight the markets just go along ignore all the risks that are out there until you know if they come to a head in which case youll react jeff garment the out arca thank you so much. Thanks for having me. Finally today how much is a babe ruth autograph worth depends on the bat but the bat used to hit roots 500th home run well sold for a 1000000. 00 s. C. P. Auctions the not to defy the buyer as for that 500 homer it was hit aug 11th 1929 in a game against christies favorite the Cleveland Indians according to the auction house the ball cleared the right field wall with league park and then rolled down lexington avenue babe ruth was the 1st of just 27 Major League Players to reach got 500 mark by the way another babe ruth bat the one used to hit his 1st home run out of Yankee Stadium and i think 23 that sold for just under 1300000 can 2004. Fascinating stuff thats up by this time you can catch on youtube dot com been must see you next time. I had a spiritual experience. And the little girl that died in the fire sent their columns. There. Were looking for a kid reaching. 54 years old and 21 years on death row. For a crime i didnt commit. To that even the simple. Truth that nobody but this. Was pretty much of for. Me or had im guilty or that. I think. People do it all. The truth to me hasnt forgiven himself for something. I knew she was there and i knew exactly what i was doing. People. Sometimes theres no explanation. Seems wrong. To me but yet to shape out these days thats ok and in the game equals betrayal. When so many find themselves worlds apart we choose to look for common ground. Its revealed french authorities were warned of the dangers of using military grade tear gas grenades against demonstrators the crowd control defy sales calls horrific injuries to saw yellow press protesters. Coming all party hears from a law professor a fighting for the release of a one tell them old baby inmates who was subjected to shocking torture of the homes of the cia. Who. Was. Charged. Or released