hope you'll come back to every small president of arbor financial and the author of turning financial planning right side up thanks for your time thank you. time now for a quick pause for the promotional cause but stay with us because when we return ashley banks talks with peak prosperity c.e.o. chris mortensen about what he calls the everything plus before we go i'll give you my two cents maybe a nickel on what president trump should do at his state of the union speech and as we hit the break here are those numbers again two days in a row down triple digits from the dow the numbers the closing bell right in front of the. entire perfect currency market itself is still on track to eclipse the global banking oleg obviously which is what we need what we want and i've always said it's a bank circular that's the primary use of bed going to hurt. you seen years ago i traveled across the united states exploring america's deadly love affair with the gun bad guy trying to get to one of my family members he would have better a lot better and i think it's fair and hurting when i buy my babies says my book was published in the year two thousand more than home for a million americans have been killed by phones in the u.s. how does the team yes we did this this is a middle school we go through drills and we put ourselves in real scenarios it was interesting to see who actually got hit. i just saw i did to return to the subject to track down each gun owner who i'd met and photographed those years ago i don't know this but we are not. across europe municipalities are taking their water supply back from private companies who didn't appear. alone even some company elsewhere they invite private companies to take over the utilities anybody tell us throw posts. from us you guys we got to the program up to. us to quote them out. for you and i don't believe the left. locals are ready to stand up for the basic human rights of access to water it's about water but it's also over much more and more it's about to hurt and the redistribution of. course is on day to day downwards. apple will cut anticipated production of the i phone x. by half the first report that apple's new plans to build only twenty million units of their latest model the flagship phone broke late monday in november the company had said they planned to build over forty million units the i phone x. carries a list price of nine hundred ninety nine dollars and holiday sales fell be low expectations apple stock fell on the cutback news and has been in decline since january eighteenth although the stock is up year over year by more than forty five dollars. a market moves record after record high over the last year we also see some signs of pullback in selling as we've talked about just a moment ago triple digits first time in two days first time in a year we've seen. that and the largest dip in the s. and p. five hundred in five months here with more is ashley banks who spoke with chris martenson the c.e.o. and co-founder of peak prosperity dot com. twenty seventeen and twenty eighteen have seen record highs for the stock markets but will that continue and what does that mean for people here to discuss and give his take is chris martenson the c.e.o. and co-founder of peak prosperity dot com thank you so much for joining us chris and now what is your opinion on the current status of the u.s. markets and do you think this will be a strong year for the u.s. economy. two separate questions there actually we've got obviously record high stock prices all over the globe but in the united states we see the same condition and we see records being set all over the place record bullish sentiment record low levels of cash an investor accounts record high stock prices by multiple different valuations so we're we are seeing technically fundamentally conditions that have literally never before been seen in all of stock buying history so that certainly is the definition of buy high and hope for the best so that's part one and for the economy it looks like we're seeing some signs of life at the same time this recovery is very long in the tooth it's it's been almost i guess the third may be closing in on second longest expansion in the record books so lackluster for sure but do we see the things there that are necessary to really take this thing to the levels of growth that these equity and bond prices have been implying i don't see it and i want to switch now to an article you wrote on thinking alpha you say that when people think wealth they think about money and stocks but you make the claim that wealth is the stuff we actually buy like oil land food and fatter and now evan those are the things that really determine wealth why is it that way thea bigger focus on stock than money. well you know history is clear on this actually we see the pendulum swing from fascination with things those are the real tangible assets you just mentioned to a fascination with paper we're coming out at the tail end of the longest period of financialization in our history so there's a lot of fascination with paper right now but i love reminding people that real wealth is not money it's not stocks it's not bonds it's not derivatives each of those is a claim on real wealth and to make it simple if you're on a deserted island it's just rocks there's no freshwater no soil no nothing you're big pile of cash isn't going to do you any good so it's important to remember that real wealth is land its resources that's primary wealth it's the means of production that's secondary wealth everything else is a claim on those first two and history is complete ashley we see times when those two things got badly out of balance like in why marge or money or in zimbabwe or recently in venezuela and that's what we think of where we are is an extraordinarily imbalanced market with the highest levels of debt the highest levels of unfunded liabilities and the highest equity prices these are all claims not real wealth chris some say that most of the largest bubbles and has three have occurred when price inflation on assets becomes higher than and comes can sustain that now if that holds true what would you say is the next great bubble to burst. i think we're in the everything bubble here actually what we've seen is since the late one nine hundred seventy s. early one nine hundred eighty s. depending on which country we're talking about an experiment started to be run and the experiment was this could we expand credit at twice the rate that the underlying economy was expanding so in this story the credit fuels the asset bubbles that you just talked about those asset prices and on the other side the economy's your income that's what can sustain the prices of these things so where are we seeing sort of bubbles listen i don't know you know every bubbles in search of a pin but i don't think that we just have a housing bubble in vancouver in toronto in sydney in san francisco those are true we don't just have a bubble in european junk debt which is now trading with a lower yield than us ten year debt figure that one out if you can we don't just have a bubble in equity markets which are priced at the highest they've ever been this is kind of the everything bubble unlike the prior bubbles that we saw in two thousand and seven and two thousand i can't find any really undervalued places to hide this time except cash in commodities chris every word to experience a financial disaster in the near future do you think our current markets are ready you know do what you think we've learned enough to offset the damage that could be done. no unfortunately the lesson that we should have learned in two thousand and eight was hey that was a bad idea creating so much credit that you defined what a bubble is when asset prices rise beyond what incomes can sustain but to have one in the first place you need one thing always one thing and that's too much credit so our credit markets fell apart and rightfully so we were running a bad strategy in the federal reserve along with the bank of japan bank of england bank of canada european central bank said not on our watch let's get those bubbles going again we're going to push credit is the markets they did a great job we have enormous amounts of new debt in the system since two thousand and seven but what we haven't had is the organic underlying economic growth that would justify those actions so you know when this next crisis comes are we ready for the answer is no we have more debt just as much derivatives on the books and worse we don't know where the risks really are because don't forget these big banks big financial institutions are still allowed to account for the derivatives on their books by something everybody calls mark to fantasy whatever that whatever number they want they are still not marking to market we see emergency provisions stuffed into place in two thousand eight still muddying the waters all the way here ten years later chris dodd switched over to tax free for mom what kind of impact do you think will say now that trump and the g.o.p. have passed their latest version of it. well we're seeing some i think some very positive developments with companies deciding to give some of that cash in bonuses to their employees that's going to come straight into the economy i've long been a critic that if you want to do emergency cash infusions go ahead and do it money for main street at least then it gets to the places it should money for wall street not a fan of that wall street fritters that stuff away so that's on the positive side i will take the other side of the estimates where they say maybe a trillion dollars in new debts will result i'm going to say that numbers at least off by a factor of fifty percent maybe more it could be two trillion could be three trillion because actually the way they calculated that number first you can disagree with that under any circumstance but they also assumed no recessions are going to come along and we're going to get really robust economic growth at a rate we haven't seen in ten years so those two bases alone i think that we're going to see much higher deficits coming down the future and of course i think the u.s. treasury markets already agreeing with that as we watch interest rates climb everywhere from one year to thirty year paper are going to leave it right there chris martenson the senile and co-founder of peak prosperity dot com thank you so much for joining us today my pleasure. before we go donald trump will or should show up at the state of the union but who will be there will it be teleprompter trump or davos trump that i witnessed in davos last week at the world economic forum well he should probably be that davos teleprompter prompter trump and here's why going into the forum there were a few trump opposition protests primarily in zurich when air force one touched down in a small group there in davos itself while a few davos attendees walked out of the president's speech one eyewitness with a t. shirt proclaiming i stand with eighty the president's remarks remained uninterrupted he was scripted and stayed glued to the words that appeared in the teleprompter and. and it worked the result he spoke about his america first agenda not meaning america alone he was in fact warmly received and avoided up setting global political and business leaders most of us recall that he didn't do quite that of on his few forced foreign forays last year to the middle east and to europe and the reception in davos with business leaders was likewise pretty positive his davos speech home to many and was a success by almost any measure that's the fellow who should show up for the state of the union davos teleprompter chump so doing so is particularly important given the heightened an angry and tegan ism of many democrats the president shouldn't inflame already smoking embers many recall rep joe wilson's shouting out you lie during one of president obama's state of the union addresses it was by any reasonable standard pretty bad form the u.s. house of representatives where the speech is delivered is not the u.k.'s house of commons where booing and hissing cat calls and shout outs are a regular regimin the state of the union address should be a place for inside voices and making progress for our nation but this isn't just about being respectful of the speech of venue or of those in the room it's most importantly about doing the right thing for our nation and the only true way to make long term positive progress is to work with members of both political parties that's particularly important on an issue that president trump has touted all the way back to the twenty sixteen campaign infrastructure reform today the president and his administration has only provided six pages six pages of bullet points on infrastructure it's a trillion dollar plan for gosh six six pages come on that needs to be fleshed out with more detail and the state of the. tonight is an obvious opportunity to do so furthermore infrastructure is not a very partisan issue the policy debates around infrastructure usually center more around urban versus rural transit versus roads debates than partisan politics a davos teleprompter trump could make a heck of a lot of progress if he speaks about the need for infrastructure reform the fish and seas that would be created not to mention the jobs and boom and business to the overall economy for the democrats they should really refrain from any bad behavior whatsoever that will be decidedly difficult for some who believe the president has worded opportunities to work together and put in place a tax reform program that will only exacerbate the current wealth gap and as demean the office of the presidency nevertheless democrats should be respectful and civil we want people in public office who believe passionately in causes that's what our democracy is all about what it's based upon but the state of the union address however it isn't the place to deride or demean the president nor the president to be particularly partisan or sort of go to his learned worst instincts we can all do better we'll see if the president and the congress republicans and democrats alike can do a better job tonight will see and will listen. that's it for now thanks for watching be sure to catch boom bust on you tube you tube dot com slash boom bust r.t. catch you next time. how much of. this little bundle of joy would have no chance of surviving in the wild mother pandas can only read one cup at a time but usually give birth to. every year china puts a lot of effort into making up for this cruel mistake of nature. is just. china's panda breeding has become something of a production line. it's almost as though they've been copied three d. printed and put on show for the public. several cubs are born here each year. but only left work by dedicated scientists will be for nothing if panda love can't be encouraged in captivity it's not as though they don't practice a tool but in the same lazy way they do everything else with this proud mommy gave birth to twins and has no idea that a special love potion was formulated just for the. ride up with. the best out of. the concepts those proposing to perform how to actually prepare myself to. read what i'm so sorry trust me last time. as most of. you. in home a bar. chart. that. was . this fun to you was. good. so. what. was it he could with us to. yes get me she. had to finish in the. toilet b s k. was. not on. the b.b.c. he's accused of bias is the u.k.'s house of lords questions the corporation's brags coverage following the release of damning reports we hear from one of the authors. i think is pretty pulled out of public roll calls for askew because some analysts so dramatically in this direction political issue but on. its course saying that he'll definitely release the contents of a controversial classified memo alleging abuse of surveillance powers by the f.b.i. . released. four hundred i'm. this rayless to two new zealanders who allegedly convinced the pup's top council hotel of the. concert. good evening and welcome my name is neil harvey this is r.t. international. the b.b.c. has been accused of bias it is sprigs it coverage with a majority of its guests said to hold a pro e.u. stance and that's according to several recent reports which have prompted anger in britain's house of lords. frankly is a pretty p.c. has become the supporter over for organizing. for your new dave recruits through mr to the dude who said to me recently that his job in brussels is move even more difficult this is return he makes a small advance for his problems of mine for the b.b.c. . to in order because you do a duty of impartiality. the report was by an organization called civet us and they amusingly called it the brussels broadcasting corporation and they found that over a long time period ten years up to two thousand and fifteen out of more than four thousand guests who were asked to speak about the european union just a tiny fraction of one hundred thirty two of them were in favor of this but today's report is from the institute of economic affairs and it allows two of the b.b.c.'s key panel political shows if you like so question time and any questions and they found that out of six hundred panelists who were invited over the last eighteen months two thirds of them supported remaining in the european union with just a third of them supporting bracks it not only that but if you recategorized the people who did support remaining in the european union but are now implementing it inside the government you'd still have a sixty forty split against bracks it here's a little bit of what they're talking about the leave boat has left us with a group of leaders who having lit the fire of all runaway brakes it is a historic mistake for us with it it breaks my heart i lie in bed tonight what becomes of once again i'm the sole lever on the b.b.c. panel the b.b.c. has sent us a statement responding to this latest i.e. a report it says that these programs are not single issue programs and also that it doesn't just. politicians and invites commentators and leading figures from across the life of spectrum in this country it also says the b.b.c. is no longer reporting on this binary choice leave or remain which the electorate faced in the referendum that now giving the public the opportunity to hold politicians to account over the way the implementing brecht's it we've also contacted several unions and other organizations that represent journalists and we will bring you that response when we get it. the editorial guidelines of the corporation however say that it must be inclusive found reflect a diversity of opinions we spoke to my little it director general at the institute of economic affairs which was behind one of the reports on the b.b.c.'s coverage. but it's true that we are no longer in a referendum period and it is true as the b.b.c. said in a statement that your phone is she with but it's no longer a binary choice but the problem is this although there are a wide range of choices do we leave without a day old do we stay in with a transitional period do we stay in the single market do we stay in the customs union and if so for how long well there are now a wide range of options really those range of options are subsets of the remaining camp and belief cap i think is pretty poor that a public broadcaster is skewed that guess sometimes less so dramatically in this direction of the top political issue of the times. in general in britain the stagnation figures famous figures and influential people have tended to be in favor of a you membership it's more the ordinary man or woman who rebelled against the political statement he tells philip site it seems to me that balancing all people's views on breakfast and making sure you have a fair share of voice from both ends of the fall into the argument should be a very very high priority indeed. i think the politicians are on the leave side of the argument those who are in favor of projects that are beginning to lose their patience with the b.b.c. the b.b.c. would argue that the boys take flak for a precise paper on the center right compline center left people in the center left like the center right and if you are taking sort of equal amounts of flak criticism from all sides of the fight for perhaps that's a sign that you have got talent but i would say that the b.b.c. now should be concerned but there are politicians who are seriously right in the british power. in the world of genuine concern about whether the b.b.c. really can be considered a neutral broadcaster one that doesn't just show a diversity of views but a proper balance and if the b.b.c. starts to lose the faith of politicians and the public in that key question of neutrality then i think over the longer term i have a great deal of problem justifying their present funding and possibly even the present basis of their existence. the white house says that it plans to release a controversial classified memo allegedly detailing abusive surveillance powers by the f.b.i. announcement comes after donald trump was caught on a hot mike saying the same when he was leaving the chamber after the state of the union address. things. that were. it's claimed that the document reveals the f.b.i. is abuse of the foreign intelligence surveillance act particularly with regard to claims found in the infamous trump docs cia if confirmed it could damage the reputation of the agency and the ongoing investigation into terms of alleged links the rest of the memo itself was drafted by the chairman of the u.s. house intelligence committee with senators voting on monday to make it public some of the committee members who read it called it absolutely shocking and worse than watergate isn't trump has till friday to decide whether or not to release it and harris county chairman of the conservative think tank in the bow group believes the memo could reveal the f.b.i. has been acting with bias and that it tried to influence the outcome of the u.s. election people ready seen a lot of evidence of this sort of thing of security services collusion and abuse of state power in order to effect a political bias or to operate with those all biased in order to affect a certain outcome the f.b.i. which is supposed to be an agency in the united states that is beyond corruption beyond bias and operates with a completely straight out i think if it is discovered that the f.b.i. has been using great powers of surveillance and state intervention towards influencing political outcomes i think that may represent an existential threat to the organization of the f.b.i. itself. very difficult to see how the f.b.i. could continue to to do that if it's turns out that they've been operating with a bias. the reaction to terms first state of the union address was mixed from standing ovations to boos american was following the speech on foreign policy there was plenty of american exceptionalism mixed with platitudes and cliche's he introduced the subject by naming every so-called threat to the u.s. . in general it was all pretty vague he didn't go into detail explaining how he would accomplish any of these goals but beyond that trump took credit for eliminating isis and he seemed to have hinted at continued military presence in the region saying quote we will continue our fight until isis is defeated he ended it with north korea calling it the worst of all dictatorships warning that their pursuit of nuclear weapons could very soon threaten our homeland even though d p r k has never attacked another country before north korea's reckless pursuit of nuclear missiles could very soon threaten our homeland has to experience has taught us that complacency and concessions only invite aggression and provocation i will not repeat the mistakes of past administrations that got us into this very dangerous position while russia and china have been trying to reduce tensions between the u.s. and north korea and they even called on the u.s. to not provoke them anymore but somehow they were designated as threats and from speech around the world we face rogue regimes terrorist groups and rivals like china and russia that challenge our interests our economy and us in confronting these horrible dangers we know that weakness is the surest path to conflict and unmatched power is the surest means to our true and great effects i was just a watching mainstream coverage earlier in the only criticism big had wellies foreign policy wise was that he was apparently too soft on russia and you know the united states requires to have major enemies to justify the seven hundred billion dollar defense budget which is actually one point one trillion if you break it down so these are all important noises for the president to make the state of the union to sort of shore up support from the defense bloc as it were to chinese it does.

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