council to school so. this is boom bust broadcasting around the world from washington d.c. i'm part chilton. coming up we take a look at north american free trade agreement and the foreman will call me in why the president trying to speak to the farm bureau this week plus our data wrangler pam peck citroen the c.e.o. of bendo system is in the house to talk big data in twenty eight and ashley banks looks at the new owner of essence magazine but first let's take a look at the business and point is the headline. china is cool. why atlee closing down the mining operations that produce bitcoin another digital currencies roughly three quarters of these operations are believed to take place in remote areas of china due to the cheap electricity in cooler temperatures last week the chinese regulators ordered local officials to create an orderly exit for mining operations the group said mining has used quote huge amounts of resources and stoke speculation local authorities have been encouraged to use things such as electricity prices and taxes to suppress the mining the order did not specify a deadline but does require monthly progress reports because mining operations are rewarded with payments and digital currency is and are also needed to approve transactions in the currency analysts say the chinese policy could dent the price and supply of digital currencies for weeks or even months chinese regulators banned new initial coin offerings those icy o's last september and the energy that gave the order is led by the people's bank of china which previously predicted the death of bitcoin so fast. kodak is having a moment share values shot up dramatically after the company announced that they will make an initial coin offering themselves later this month it's called kodak coin of course and the currency will be used for all transaction on kodak one a new platform to help digital photographers collect royalties and assert rights on the use of their work kodak is partnering with when group of london to create the platform some skeptics question or question the value of the platform and whether photographers would be smart to accept payment in the new digital currency but kotok stock which was just over three dollars before the announcement was trading at ten dollars and ninety cents as we went to air kodak is or once was a well known u.s. brand but it's fallen on harder times with the rise of digital cameras and the collapse of demand for actual film what codecs provided to two thousand and twelve bankruptcy they have struggled to find their footing in a disrupted market we also no longer have those little green photo booths remember those in the park mall parking lot probably a good thing canada's government is cozying up to pro and after republicans in the hopes of keeping the trade pact alive president trump and his administration had threatened to axe the agreement on a number of occasions even with many of his own party backing the deal and how does nafta impact farm in rural economies artie's alex mahela bitch joins us from toronto with more alex tell us about prime minister trudeau strategy with the pro nafta high level republicans. yes prime minister trudeau what keeps him up at night he'll say nothing we know that negotiations haven't been doing too well the last round which was some calling a mini round in december didn't yield much progress whatsoever so the prime minister trudeau is looking to up the ante he sent christian freeland our foreign affairs minister down to the states to talk to the commerce secretary wilbur ross we know that he is not a big fan of nafta as it stands but a lot of people when they don't like nafta all they want to do is see some major changes happen to nafta mainly because if you talk to president trump to get a fair deal for the u.s. we know that the trade deficit especially we're talking about mexico is quite substantial so these are the type of people she needs to convince but she also has a lot of people on board that are in the republican party so she spoke to a list of them or a look at least have a list of them that she wanted to speak to and that includes arizona as of jeff flake tennessee's lamar alexander pat roberts from kansas nebraska instead fisher and of course south carolina carolina lindsey graham that big name there so these are the people that she knows already are on her side but she needs them to get behind the ball and start pushing president trump in the direction of saving enough to not axing the agreement now the next round of talks for nafta are due in two weeks in montreal so that's why the pressure is on right now yeah and you mentioned in those list the senators alex a pat roberts he's actually from kansas he's the chair of the senate agriculture committee and that reminds me i know we do talk about the auto sector being impacted by daft a lot on this show it will do it again but how about agriculture how will agriculture fair and how has it fared so far with nafta like agriculture is huge and we know any way you turn it this agreement as it stands has created about one point one trillion dollars worth of trade between canada mexico and the states even when you take the deficit. to consideration the trade deficit there's still money being made here and there's jobs on the line agriculture is a big one and when we talk about agriculture in this continent or on this continent we talk about dairy most of the time because there is a huge industry and the states that would be most impacted are the ones the north when you think of cheese when you think of why i think of wisconsin so wisconsin is one of the big big states here look there you could lose nine point six or they are doing nine point six billion dollars worth of trade with mexico and canada that supports nearly two hundred fifty thousand jobs if we were to see nafta go there could be a forty five percent tariff on cheese exports to their top market which is mexico so that will be a major hit to that industry within wisconsin itself of course minnesota also another big agricultural market we're looking at one point five billion dollars of worth of exports but now we're talking about products like pork soybeans and corn and michigan michigan sixty five percent of their exports they go to canada and mexico that is worth thirty five billion dollars so when all of this is taken into account you can see that you know nafta is pretty important to farmers and to the agriculture industry so for the most part what we're hearing as they'd like it to be saved and if there has to be any type of you know changing it around that it's better to change it around than to axe this thing all together especially for the agricultural industry else we've only got about thirty seconds here but i got to ask you about softwood lumber that's always been a troubling trade issue tell us about that. we're talking about since the one nine hundred eighty s. so a one nine hundred eighty two is when the software lumber thing started between canada and the states canada has now taken this to the world trade organization pumping up the writer apart pumping up the argument some are calling it very bad timing since we're trying to get now to push through softwood lumber very quickly when we talk about software lobert us about eighty percent of the lumber we see it's me used in construction also used to make paper and cardboard as well so for canada this is a very touchy point since we have a huge forestry industry in this country and they're saying that the u.s. is not playing fair when it comes to this but again this is something we've been saying since the one nine hundred eighty s. and for this to be resolved i can't see it happening too soon you know well we'll keep on it and you'll help us keep on it r.t. correspondent alex mahela bitch thank you as always thank you. so let's get into the details a little bit more how is the farm and rural economy doing and how has the trumpet ministration fared so far let's ask brad kaufman the author of bet the farm how food stop being food who joins us from new york fred thanks for being with us i love that title of your book now the president's speech to the farm here was a fairly general but in his defense and i've listened to a lot of presidents in the past work for a secretary of agriculture that's what most of the presidents do they're pretty general what did you make of his speech fred. i'm sorry bart that it was just a bunch of bloviation about immigration and hillary and the wall and that there were no details whatsoever i think he made one point about how there should be crop insurance in the farm bill and i think everybody knows that for the past one hundred years or so there we have been cherry fed crop insurance right yes i worked on a bunch of those bills yes they're very controversial but let me ask you the i don't know if you may have heard the end of alex's report from toronto on nafta but what's your take fred on how the farm and rural economy has fared on under nafta do you have a view yeah i think that alex if anything is underestimating the impact this is absolutely huge for american farmers there particularly in terms of meat exports sugar deals with japan deals with canada mexico and the idea was we were supposed to get out of nafta and make bilateral agreements there are no bilateral agreements apart none of this is happening this is completely stalled it's a looming disaster. you know i didn't hear the president say anything about other issues issues i actually worked on in the past bread world housing business rolex tricity he did touch on on broadband and he did say a little bit about that matter of fact i'll try to find find it here but he signed a couple of executive orders fred and i went and looked at those executive orders and here's what i can tell you they don't do squat they're just take generally say you know we're going to make our best efforts to do all we can to pool resources but there's no new money there's no new competitive incentives for carriers to actually help get better connections or rural america what's needed there with broadband. well he needs an infrastructure deal i mean i he's been talking infrastructure for what's ever since he he went down that escalator talk about infrastructure there is no money there is no deal he's got this problem with immigration he can't move forward from it immigration is a whole other issue that he doesn't even touch and that's a huge issue for for farmers in america are those are who's working those farms and those seasonal workers but he needs an infrastructure deal is the bottom line for the broadband so it's great to talk about broadband but there's no meat on them bones yeah absolutely and we do there's so many great issues out there and i push interviewers to hang with us on this but you make me think you know we've got to talk more about those workers particularly in southern california who are out in those vegetable fields that in the valley and you know they would be nobody wants to know americans really want to do that work it is really hard work and you know what does that mean for the economy in california and throughout the nation last question fred as you know my experience tells me that the differences in farm country are less political less republican versus democrat which is one of the things i liked about working on those issues they were too partisan it's more about where you grow crops are you in the south and you have rice and corn or you know the are rice and rice and cotton rather or in the north and you have wheat and corn or you have dairy etc what do you think is going on with with farming operations throughout the country what do you expect heading into twenty eighteen i think you're absolutely right part i think i think really one of the largest differences here is in the large mega farms and the small family farms there are two point one million farms in america and more than a third of them more than eight hundred thousand are on less than fifty acres and the new tax bill that trump is flouting does actually nothing for the small farmer that it's really these these breaks are for pass through companies less than seven percent of the farms are passed through is for the monsanto's for the very mega producers. there's a big problem here the future of american farming is like the past in small family farms that's the only way we're going to get the right connections from urban to rural and the other issue which i just want to bring out is everybody understands from the military to the cia that having food from nowhere from the largest mega producers is a huge national security risk because those monolithic lines of distribution are the easiest to disrupt therefore fostering family farms is not only a boon for national sovereignty and for food sovereignty but for national security and i think our president needs to look at that i could agree with you more on that and by i will by the way a little programming note tomorrow we're going to have somebody with us from the national farmers union to talk about average family farmers as opposed to the big corporate farms we'll have them on to some time anyway fred thank you for raising that fred kaufman author of bet the farm how food stop being food thanks for being with us expert. time now for a quick break but stick around because when we return the data wrangler is with us in studio to talk big data in twenty eighteen plus actually back banks takes a look at essence magazine and its new owner as we go to break stocks have had their best start to the year in more than fifty years and here are the numbers of the posing. with this manufactured consensus still to the public will. when the ruling classes project themselves. in the final clearing go round the certainly the one percent. we can all middle of the room say. the real news is. unfortunately it appears that once people learn that you've reported in a sexual assault or may have been involved in an incident that they become scared if you instead of being scared of the perpetrator. i had a great education a good job and a family that loved me. i never had to worry about how i would be somewhere i would sleep. i'm facing christmas alone out on the streets of london. well you know to be able to. cut the umbilical if you like going to school you know to slow down to still give up food for the. but you don't really feel like you could be doing that. and then. that good use came over to me this will be and gave me a chance to get this book. welcome back to switzerland made a lot of money in twenty seventeen with that central bank earning more than fifty five billion dollars of profits get this that amount fifty five billion bucks is more than apple earned all last year and more than j.p. morgan chase and berkshire hathaway combined keep in mind that these are world spanning companies against a central bank with about eight hundred people working there while the swiss national bank is also one of the few central banks with listed shares which doubled in price in twenty seventeen alone interestingly enough the swiss banks filing showed that it owned over nineteen million shares then wait for it here it comes apple. toyota and mazda in a joint manufacturing effort will be opening a new car plant in alabama bringing in more than four thousand jobs the new plant comes at the cost of one point six billion dollars and is expected to produce more than three hundred thousand vehicles a year toyota currently employs over one hundred thirty six thousand people in the united states and last employs around twenty five thousand throughout the united states foreign automakers employ directly or indirectly over one point two nine million people. data data and more data there's so much information in today's super complicated technology world plus software quickly becomes outdated how do we capture and use and analyze data in this increasingly complex world here's what we know big data is big money and for big businesses which often do not use their big data properly it could spell big trouble here to discuss in studio with our data wrangler with see the c.e.o. of tendou systems. pam thank you for being here it's great to see you happy new year happy new year i'm glad one person yeah it's nice that last time you were up in new york ok so let's talk about just give us a hundred thousand foot view what do you think's going to happen on big data in twenty eight hundred i know that's generic but do that one drill down ok i think us to you know it's quite simple i think where if we if we compared to the last five years of that revolution of the bitcoin and the block chain and all of the noise that we heard before we isolated the problem i think what we're going to find big day is going to shift to a discussion around machine learning artificial intelligence and there are going to be pundits out there which i'm one of that are going to be trying to sell their solutions and the answer as to how they can do this and i think what. facing a very complicated and confusing two thousand and eight to understand what we're supposed to do with these tools for the data but you sort of look at this the future of two thousand and eighteen as a really tipping point where this could be lots more focus like on the digital currencies and people are going to start questioning what we're what we're doing on that i think absolutely this can be the transformation ear of where they're going to go and really recognizing that we have to get a handle on the state and i think the opening remark you made about some of these old systems i think that the fact that we never went back and looked at our back office infrastructure across the board has left us with you know old data which is very big and important and it's left us with new data and with the clues in it how do we start integrating but more importantly monetizing the value out of that ok i'm going to i'm going not to ask you what i was going to ask you there are so so a lot of these like the big financial institutions the big banks they've got all these old legacy systems and they were built like wanted a time like this one and this one and this one and they didn't talk to each other so you have these things where you say it's pam citroen minutes truly and then it's pam see citric and they can't talk to each other so even the big banks know names of any particular banks you know they've had problems with understanding what the data is and not just what the data is but what people actually own what their value is and therefore what their risk is i get it right you got it right but i'm going to add to that right these were legacy systems that combine with the fact that bank a had five systems and they bought bank b. and now they've got ten systems right but the point of it is is that those systems are so old and sure that the alternative data that we need to acquire about people right credit scores all coming we could go on all day but if you can think about it some of those systems are so all that they don't even have an email field. they don't have some of them don't have certain value. right so what we're forced with now is that the granularity of data and the need for alternative data really knowing who bart chilton is not who we think he is going back to the original contracts or going back to the paper and the real estate of unstructured data we don't have a little bit time but i want you to quick take one this big data is now being used by. enforcement folks agencies like my old agency and around the world and europe all exactly how are they doing that and are they going after money laundering or are they going after which you know things that are being used for drug trafficking and weapons etc well i can't speak to all those items that i would say the technology the learning capabilities that are on the street or becoming available will start to facilitate this but i'm telling you about you know as well as i do a lot of that's manual you know the stuff that you got when you were at the regulators you know crazy last thing real quick artificial intelligence can you give us you know fifteen seconds on how artificial intelligence plays into big data artificial intelligence a plane a big data but i think we're a little ways away from where we get to that right the goal is that the artificial intelligence will start giving us the answers to things that we're looking for in a repeatable and a more brilliant fashion right to replace the people doing it but the problem is this what no one i think is really explained properly is the catalyst ai. it has to be fueled you know and the data has to turn into fuel and once that it is starting to turn into fuel and trains what we're going to be able to experience in banking and financial services around the world and those important things like human traffic with ai is going to change the world will have more efficient effective systems and will be safer and more secure because of people like you are data wrangler pam picks a trend thank you for being here thank you for being in studio pre-shared it thank you for our. essence magazine a monthly publication that empowers black women and has a global audience of more than sixteen million is now black owned for the first time in almost two decades time incorporated has owned the magazine since two thousand and five and was looking to sell most of its shares to the highest bidder however the founder of a hair and skin company decided to purchase the magazine knowing the existence of the black owned companies are few and far between in an attempt to keep the magazine's roots alive here's our t. correspondent ashley with more ashley sorry bhardwaj dennis is now the owner of essence magazine marking this as the first time the magazine has been blacked own since two thousand and five absence was founded in may of one nine hundred seventy four holes half a century the magazine has been publishing monthly to majority black readership now in two thousand the year two thousand essence magazine founders clarence smith and that lewis sold a forty nine percent stake in absence to time incorporate it then in two thousand and five time bought the remaining fifty one percent last november time agreed to sell absence to the mirth corp and a cash transfer action worth two point eight billion dollars then as then sold his company sundial brands and bought essence magazine however he still remained c.e.o. and executive chairman of his company well the new takeover essence will keep its current executive team consisting of entirely black women the exact executive team will also. have an ownership interest in the business now this purchase comes at a time when traditional media is struggling with adapting to a digital landscape and just two years ago johnson publishing company sold avonlea and jet to a private equity firm and tech says creating a void in black owned media companies distant i want to see the same thing happen with as sense as in some magazine president michelle events so this new ownership is the beginning of an exciting transformation of our iconic brand as it evolves to serve the needs and interests of multi-generational black women around the world and an even more elevated and comprehensive way across print digital e-commerce and experimental platforms anson's magazine mainly focuses on fashion pop culture music and black life the magazine also holds a music festival every year attracting more than four hundred and fifty thousand people and twenty seventeen the festival featured kendrick lamar marriage blind and chance the romper dentist says he bought the magazine to serve and empower women of color has mother was an avid reader of essence magazine and his daughters currently arc he adds quote what we now have is an opportunity to have the liquidity to make investments and assets we can now invest and women of color as consumers bart. if you think the cryptocurrency craze is a joke at least one digital currency creator would agree with you in two thousand and thirteen lovers of shoe but you know dogs capitalized on a popular internet meme to jump start a new digital currency dog calling the currency is steadily gaining value reaching a billion dollars in december that breakout moment spurred an even greater high of two billion books just this past week it would while such value as dog might say value has fallen back towards one a half a billion dollars since the. but what's the lesson here dog coyne founder jackson homer told the website coyne dest he said it takes a lot it says a lot about the state of crypto currency space in general that a currency with a dog on it which is released hasn't released a software update in over two years has a billion dollar market capitalization with that new investment opportunities always carry risk that's particularly true if there is what is called a foam oh a fear of missing out so be careful by the way the coin creator also said he believes it's possible that price manipulation is taking place as the markets are unregulated and anyone can tap into an exchange a.p.i. and recap it so well has been used for whimsical and helpful projects like getting the jamaican bobsled team to the two thousand and fourteen olympics some people may be exploiting folks warm feelings about a charismatic breed of dog to run a scam bottom line just because something makes you laugh out loud doesn't make it a good investment thanks for watching be sure to catch boom bust on youtube youtube dot com slash boom bust our to catch a next time. with goal make this manufacture to sentenced to the public will. when the ruling class is protect themselves. with the flaming merry go read this and be the one percent. we can all middle of the room sick. to the real news. please. we can exchange julian a song has been issued an ecuadorian id cards but the country's push to resolve these long term cases being met with resistance from the u.k. government. plus the fight for power in the world of big football league c.m.l. suggest american officials were allegedly pushing for the world anti-doping agency's independence from london pick chiefs so they could unilaterally apply for this is national. will germany get a coalition government all eyes are on the country's top politicians as they try to hammer out a deal on the final day of crunch.