President donald trump and canadian Prime Minister Justin Trudeau mr trump tried to turn the page on the previous attacks on mr joe suggesting quote battle sometimes make great friendships and of note tomorrow andreas manual Lopez Obrador on low will be sworn in as mexicos next president. And for more on the g. Twenty summit we go to point to areason scotty no hughes news to use here or to america hey scotty were so glad youre down there were so glad you have time to be with us youre part of the president ial reporting pool whats the latest. Absolutely thank you bart well the main events and everything that was organized for the group has already happened and its now everyone is returning to their own hotels for bilateral meetings just wrapping up right next to us right now is a meeting between the chinese and president xi jinping as well as lattimer but weve also seen the brazilian delegation join in on that as well as the south africa and theyre going to all wrapped up these individual little bilateral meetings they have in fact they have another theyre going to be behind us probably here soon theyre going to wrap it up and tonight they can do something more social but you know obviously they dont continue to talk about the business of the day now President Trump did have a busy day but not necessarily with do you want to you would have expected he would have been talking with he did move tomorrow as we know the famous tweet that cancel the meeting if. He didnt move and place it was it a german chancellor merkel he will be meeting with her at that time he met with japanese Prime Minister shinzo and that he had they also brought in the indian Prime Minister as well to discuss possibly a future trip and as well as the g. Twenty that will be located there next year he did also with the south korean president as well as australian Prime Minister who is that lacking is that the chinese president who had a very full advance card today as he met with the majority and majority of the leaders from a glamour print also the crown prince of saudi arabia now present time did it run into the crown prince and they exchanged pleasantries and very public lots of pictures out there of that but no formal meeting it was set as well so looking at it going in tomorrow is obviously the meeting that people are wondering about it actually happened after the g. Twenty closes apart when theres going to have a formal working dinner and theyre going to within between press. And president xi jinping the question is how does the other relations and everything thats gone on the last forty eight hours the meetings that she is having with all the other countries going to effect what ultimately will happen with President Trump and its president s not going to try to gather back all of the headlines by actually working with the chinese and coming up with a deal that will end this trade war thats been going on that might be the limit made of the situation is right now presence of its not necessarily and the headlines for his positive interacts with other World Leaders and i think you think anything that you can get from the chinese a deal that would in the trade war would be something in his feather in his hat as he would like to end this segment on a positive note. You know the markets are now they just they just close but boy traders are sure looking at any more signs down there from one of stories including that meeting was being and whether or not even though the administration has downplayed any deal whether or not something surprises us scottie now we use on the ground in argentina at the g twenty thanks god he appreciates your help. And we now take a deeper look at the g twenty summit host country argentina which is once again seeking assistance from the International Monetary fund they do so despite a troubled history boom bust some daniel brito brings us the backstory to the current controversy. As the government of argentine president maurice yo machree moves forward with an austerity and Credit Agreement with the International Monetary fund a few outside the country are familiar with the tangled history which made the decision to seek i. M. F. Intervention so unpopular in argentina in argentina the story is perhaps even more well known and infamous than the Great Depression is in the United States because it happened within the past twenty years from one thousand nine hundred eight to two thousand and two argentina suffered a depression that reduced g. D. P. By more than twenty percent. In january two thousand and two argentina defaulted on ninety five billion dollars of Foreign Debts the economy took a severe plunge but began to recover after the First Quarter of two thousand and two in september of that year president kirchner famously defied i. M. F. Demands on behalf of foreign creditors signaling willingness to default to the i. M. F. Itself rather than accept i. M. F. Demands remarkably the i. M. F. Relented allowing argentina to roll over its debt to the fund rather than accept a fault with a free hand to pursue recovery policies the i. M. F. Considered anathema president kirchner then presided over eight percent annual growth through two thousand and eight president kirshners popularity seemed to rise in direct relation to the disdain argentines felt for the i. M. F. It was extremely controversial within argentina then when president reseal machree who defeated one of the late president kirshners fellow peronist at the polls in twenty fifteen turned to the i. M. F. For help in may of two thousand and eighteen at that time reputable argentine pollsters measured opposition to the i. M. F. Intervention at seventy five percent paul coauthor Sergio Berenstein said the i. M. F. Is quote a quasi toxic word critics say the i. M. F. Demands for budget austerity will hinder the growth argentina needs to be able to overcome their current troubles but mr machree is clearly determined to move forward. And here to expand on argentina and the countrys tangled past with the i. M. F. Is the codirector of the center for Economic Policy Research Mark wise mark welcome back were so glad to have you with us you were telling me on a bit ago youre working on a paper or a book on the ground in the paper on this so you know everything about our i mean as dana described it is peace there its sort of a twisted tangled past why has the president gone back to the i. M. F. Well they had a severe financial crisis beginning in may when they went to the i. M. F. And so they saw it as a way of getting out of that getting they got fifty billion dollars committed right away and now theyve in october they up to fifty six billion thats a huge amount of money even whether what you compare it to you know g. D. P. Their exports whatever thats a lot of money and theyve already dispersed twenty billion of it and of course its much lower Interest Rates than they can get on the market so there would be the reason they went there and is are some conditions you know what they have to do budget austerity except for what do they have to do to continue to get this month yeah thats the catch although i have to say you know this is a right wing government so they agree with most of what the i. M. F. Is doing but that doesnt mean its going to nor like venezuela was really pushed into that position right well that is when they went to the i. M. F. You know the i. M. F. Has been out of most middle Income Countries since the twenty First Century started they lost most of their influence around the world so this is kind of this is a big test for the i. M. F. This is part of their attempt to come back to and especially in argentina where they messed up so badly the last time as you describe in your introduction so the thing is what the i. M. F. Is going to do is their program their strategy is were going to restore market confidence and how were going to do that well unfortunately going to do it by causing a very bad recession and the i. M. F. Actions now show a two point eight percent g. D. P. Decline for this year and one point seven percent for next year now just three months ago when they signed the agreement they said the economy im f. Was saying the economy was going to grow this year it was going to grow i want to have percent next year so this is a huge forecast there and so obviously they have a restored confidence of all in fact the done just the opposite so far so wow that is a big deal you know two and a half three percent forecasting error and you wonder if youre going to get your money back ultimately whats whats the overall condition whats the Unemployment Rate like i mean how bad is it there i think that employer rate right now is nine nine percent. For the year and the well the shrinkage of the economy are to mention but you have also Interest Rates for example. Percent and this agreement commits them for keeping the short term policy rates like we have our two percent federal funds rate in the u. S. Sixty percent and they have to keep it there until Inflation Expectations fall for these two consecutive months so theyre committing to a tighter Monetary Policy theyre committing to this big adjustment three Percentage Points over three Percentage Points of g. D. P. Theyre going to tighten the budget thats how they get in this recession and you know theyve done this before and of course you know it does do something when you shrink the economy you get you lower inflation and when you shrink the economy you also reduce your trade deficit because people cant buy imports and so thats what the fund is doing but the problem is where does it stop the last time they did this in the late ninetys it didnt stop until the government defaulted on the debt you know change their currency regime and got rid of the i. M. F. And thats when they started to recover mark thank you so much for being here and spread the light on this we appreciate you look for to reading your paper Mark Weisbrot thank you so much. Now for our weekly market wrap up as we like to do we start in russia the Moscow Stock Exchange up just a little bit that is despite the news on increasing tensions with ukraine shanghai Stock Exchange also up the nikkei actually up seven hundred points i was looking earlier today at the big Manufacturing Company mitsubishi essentially down on the year hong kong it hang seng there up and a. S. X. Australian one hundred that end down but just a very little bit and moving to mumbai to india the sensex at the bombay Stock Exchange up twelve hundred points this week the all shares in south africa in cape town up just a little bit not much at all as is the cac forty in france up just a little bit the german dax by the way down pretty big this week we told you about a lot of that negative news bearer for example with that trouble with monsanto they were down a shares a bear were trading at eighteen dollars and also Deutsche Bank we talked about Deutsche Bank Deutsche Bank shares down from nineteen to nine in the year so down ten bucks and even volkswagen thirty three dollars at the beginning of the year down to seventeen dollars now the footsie remain in london remain just a little bit up as despite a lot of that negative news about g. D. P. Growth under the various brechts at scenarios and in colombia matter of fact in all of south america colombia the best but and even the Buenos Aires Exchange vaal which we dont talk about all the time all up just a little bit and in toronto the ts sex was up a little bit but down on the year and nasdaq and the n. Y. S. E. Indexes nasdaq still just a little bit up on the year up on the week a little bit up on the year and why. Yes me up this week and actually down on the year that statement this week by fed chair jay powell just yesterday really move markets up a little bit well see what the rest of the year holds and thats our weekly Global Market round up time now for a quick break but hang here because when we return well talk while prices and the price of crude in the u. S. Has been dipping below fifty dollars that markets the brazilian market whether or not we will go below well see rocky horror of simple trading will give us were learning to take you on contributor at americas lawyer molly barrows will help us consider the Earnings Report of Dicks Sporting Goods and the companys move made after that horrendous Florida School to stop selling fire as we go to break through the daily numbers from new york at the closing bell well be back in a flash. Campsite now and again for people that can. And their legs so tired. Like i say housing as they dont have to talk about what they go through with us because we understand our daughter katie was diagnosed with a very rare some sensitive condition i get sunburned i hear she doesnt feel they should see some problems with my time here some the brains are actually shrinking inside the skull gets weaker in the brain still small. The pain is indescribable its feels like a really really bad chemical burn but it goes through your skin into your muscle down the but. Theres no relief. So were not sure this is historic. In fact a recent poll of gallup poll shows fifty seven percent of americans want a more cooperative relationship with russia so theres a disconnect that a smart politician democrat would understand needs to be seen because theres not a lot of hunger appetite for this kind of any russian politics is being fanned by a media political establishment. Responding in this out of need. Your mother. And authorized to have the power but by. Jas this diagram how do you. Think im going to employ is going to go at the bridge. Problem which i get all over again or the other third most im not the host u. D. M. A. Look to get the job and you know has it funny but it was huge i love million. There i was. Right on the bank of iraq on the bayswater of chemical lights and as our business is going to go he would build out a new treatment there into mary snow mockers know that these industries out of polluting you had this simply ignored your money that type mother number of even those. The Mother Tongue like means we lost even this. Welcome back turning to europe the budget battle between italy and the European Union and the resulting. Increasing yields want to tell you and bonds has made waves in markets now the turbulence in italys wake is shaking greece as the government there has been forced to postpone their issuance of ten year greek bonds which was planned to follow the end of a large e. U. Bailout package to greece of eighty six billion euros about ninety seven billion dollars as a result greek investment will continue to remain absent from International Capital markets for the forseeable future. Catching up with the race to capture the emerging market for self driving cars the president of General Motors will shift seats to become c. E. O. Of cruise thats the unit of g. M. Working to develop Autonomous Vehicles g. M. President mary barra said the change in title for g. M. President. The president will take effect on january first and will quote demonstrate our commitment to transforming mobility through the safe deployment of Self Driving Technology and move us closer to our vision for a future with zero crashes your omissions and zero congestion cruise cofounder and current c. E. O. Thirty three year old boy will remain as crude as president and chief technology officer. Crude oil is having its worst month in a decade on the topic of oil and specially production of oil has been and will continue to be a topic of lively conversation not only at the g. Twenty meeting in argentina but at next weeks opec meeting in vienna and here to help us sort it all out and project a path for the future is currencies and futures expert Simpler Trading rocky horror rocky welcome back we sure love having you worst month in a decade my gosh and the price dipped below fifty bucks a couple of times a made it back seemed like a resistance level but seems like quite a month whats your take on all of it. Great to be back thanks for having me cruz is having an epic month and its stephanie been something that has been on my radar since october i think traders and investors will remember that when we had a pretty sharp rally in the equities markets late october mostly on the the g twenty hopes of the u. S. And china having some sort of tariff ceasefire trade war cease fire crews did not participate in that rally of the major averages in fact from a technical level a lot of folks notice it broke through the two hundred period exponential now technicals aside that drop in crude definitely probably is a big part of the ten week in a row build up that weve seen in crude and also the Global Economic slowdown were seeing and also the equities slowdown were saying that flat out weakness weve seen overall throughout november in the u. S. Equities markets so it really is i mean you know my background its your background too but im a guy who likes to think that price discovery is based upon supply and demand and not you know prices arent being pushed around by speculators although we need speculators in the markets of course but youre saying that the prices are really a reflection of an increased supply at least largely increased supply decrease demand Going Forward with this potentially slowing Global Economy right. Absolutely but i could read between the lines my friend i hear you saying look theres a lot of shenanigans at play in this market and youre absolutely right is it a pure price discovery right now i think as you mentioned earlier in the show at the g. Twenty coming theres been a pause and oil right above that fifty dollars mark with the opec meeting coming next week theres a lot of hope in him once again that perhaps the u. S. And china figure something out perhaps opec will actually cut one point four Million Barrels per day thats the non opec consensus thats something the saudis would love to see russia had said yeah well go ahead and maybe listen in on that so if we can see a cut like that about this would be very interesting in this market about fifty eight to sixty dollars and i think its going to be sold into if and when it happens and you know ive heard this term but i hadnt heard it for a number of year augie relief rally is the term i heard today and. In addition to the supply and demand fundamentals dont you think that theres even just the announcement of something that could really send prices up maybe to that you know fifty six fifty seven fifty eight dollars level could go like that through the end of the year is that what youre thinking to. Absolutely i couldnt agree more i think that g twenty could certainly help what fed chairman powell said this week certainly couldnt hurt a little bit of say dollar stagnation couldnt hurt but its really going to be opec and i think thats why were seeing crude sort of stuck in a range if you look at it over the past four five six sessions theyre waiting on opec and theyre being very patient about it because one point four Million Barrels per day that kind of cut that type of widespread participation and Production Cut could be a significant reason for a rally raji i was looking at gas prices earlier and that the price today in the u. S. Is to forty nine thats what it was the exact same amount year ago i never would have thought that was the case well see how it goes for the rest of the month and we sure appreciate you being with us Rodney Horner Simpler Trading thanks so much a great weekend. Thank you. And all years weve reported on some companies which have chosen to stop selling guns and ammunition in light of the Parkland School shooting in florida earlier this year Dicks Sporting Goods as one of its release their Third Quarter earnings and that policy may have moved in their money out here with more from florida is mostly boroughs contributor america where molly thank you so great to see you again dick stock is actually up through the year by about six bucks per Share Trading today around thirty five and a half dollars but in the q three though they really did lose some revenue do you think its because of this a policy decision molly well you know like all stories it seems so simple not so simple probably a little bit a yes and no on that answer and those Third Quarter Earnings Report that you mentioned they are down they reported being at one point six billion down one point thats from down from rather one point nine four billion last year now of course the company is the nations largest Sporting Goods retailer and they reported that the sales were down in same store from this time last year and due to big part from declines in sales the departments of hunting as well as electronics now the drop in sales comes after they made some policy changes after the parklane shooting in florida last february where the shooter Nicholas Cruz killed seventeen injured another seventeen now it came out that he had purchased a weapon from Dicks Sporting Goods although he did not use that weapon in the shooting the company did make some changes and in fact they raise the age to buy a gun from eighteen to twenty one they banned assault weapons from store shelves and they also took out hunting supplies including weapons from ten Source Stores where sales were already low in those areas so its been interesting the sales were already low so this time last year still low does this mean the for lack of a much better phrase that dicts is going to turn around and go great guns again. Actually not at all in fact its the exact opposite c. E. O. Ed stack has been telling reporters that theyre now considering removing cutting supplies from a lot of stores especially with the sales are already slow and replace them with items like Sporting Goods like like the name of their store right baseball oriented stuff and license merchandise thats what they were placed in the stores the original ten where they removed their hunting supplies like shotguns ammunition scopes and that and it did pretty well so it seems as though there is a trend stack is saying and maybe the farm market going down a little bit in fact the f. B. I. Reported a drop in background checks on black friday related to gun purchases and this comes on the heels of three years where they were breaking records for requests for background checks in relation to gun purchasing the gun manufacturer American Outdoor brands core formally known as smith and wesson just a couple of years ago they reported to that theyre down about three hundred Million Dollars from a year ago for their net sales the main reason the majority that revenue comes from firearm sales thats down forty two percent in fact or two thousand one hundred theyre not even going to produce as many guns thats so interesting you know we we couldnt tell one you know walmart came out with their Earnings Report because they also had a cutback also they really didnt you couldnt really tell from their Earnings Report if the stopping of the sale of ammunition and some guns was impacting them but on dicks molly i mean how are they doing sort of overall how is the chain doing. Overall they seem to be expanding you know in their Third Quarter report they talked about opening Six New Stores they actually have more than seven hundred thirty stores now in forty seven states sixteen percent increase in ecommerce sales so it looks like a lot of the areas the stores that they were impacted like hunting Like Electronics they were seeing dips in those sales anyway and now that there is a weakness in the firearm market this just makes business sense for them to pull back and it also sort of like what we saw in the nike story when calling caper nick was taken the name and then you saw a spike in sales of his jersey yes nike hooked on to a political hot issue but it was also one that a lot of people got behind you know here you have dicks getting behind a lot of folks saying hey we need to do more to control guns in this country they took a stand on the park on shooting kids made some policy changes and thus you see it also makes business sense because sales were slow in firearms anyway molly thank you so much really insightful appreciate you spending time with us molly barrows contributor America Thanks molly they start. And thats it for this time thanks for being with us we sure appreciate you can catch boom bust on you tube dot com slash boom bust archie so long for now great weekend. Tony you know. Im a little but i threw my she ended up getting one but when news were buddies. One of them one night you should have been there so. I dont want to thank or i cant thats i mean yes i knew she needed that moment Community Yeah they encouraged me to keep the team that he had to combat going to move a few names to move on to one of the men that you know enough to vote for head of. The bed the people who run the economy who price money the commodity that runs economy they say is more are the signs it means are just making it up as they go along i mean that there is no principles that they are guided by they consider themselves artists because of the selves impressionist they consider themselves completely subjective in their view of the world that they can simply raise rates and lower rates based on a when theres nothing guiding them in economic reality theres no school of economics theres no Science Behind it its pure whimsy. When a loved one is murder its natural to seek the Death Penalty for the murder i would prefer and its meaningless in the Death Penalty just because i think thats the fair think the right thing Research Shows that for every nine executions one convict is found innocent the idea that we were executing innocent people is terrifying the is just no way that doesnt mean that we will even many victims families want the Death Penalty to be abolished the reason we have the Death Penalty here is because thats what murder victims families what thats going to give them peace thats going to give them justice and we come in and say. Not quite enough weve been through this this isnt the way. For. Me to. Be the. One that lives you know what obama will ultimately headed back. To. Get well. President putin greets the Saudi Crown Prince and sits down for talks with World Leaders at the g. Twenty summit after meeting with President Trump was called off also. Over soaring fuel prices spread from france to belgium the protesters are met by heavy police presence