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tv   Boom Bust  RT  June 21, 2017 3:29am-4:01am EDT

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in the broadest measure of trade the u.s. deficit hit its highest level in a year according to first quarter reports the department of commerce says the deficit rose to one hundred sixteen point eight billion dollars in january in the january through march period that's a hike of two point four percent from one hundred fourteen billion dollars in the last three months of two thousand and sixteen the deficit was the largest since a one hundred nineteen point two billion dollars a year earlier the deficit in goods rose to two hundred point three billion dollars from one hundred ninety five point one billion between october and december of two thousand and sixteen this current account read includes investment flows in addition to trade in merchandise and services president donald trump has pledged to
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reduce the u.s. trade deficit contending that it cost us factory jobs and reflects unfair practices by america's trading partners. and british regulators have charged barclays bank and four former executives including the c.e.o. with conspiracy to commit fraud by false representation when they saw investment from qatar back in two thousand and eight barclays turned to qatar to bolster its finances and avoid a government bailout at the height of the financial crisis because hari investors pumped seven point seven billion dollars into barclays during two fund raising rounds in june and then in october of two thousand and eight two of the executives racked up a second account of fraud with regard to the second round of financing at that time the charges are the first in britain against a bank and former executives for activities during the two thousand and eight financial crisis the charges come as yet another blow to. barclays c.e.o.
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jeff staley who is himself facing a regulatory investigation into his own conduct after he allegedly attempted to identify a whistleblower. when a handful of terror attacks on the ground fell to our fire tragedy recently the u.k. has been having a tough few weeks with bret's it talks going the way they are it doesn't look like it's going to get any easier any time soon. for she joins us with more on that for us now the major banks are actually thinking of exiting london specifically because of the impending bricks that what can you tell us about that right so it's actually right now u.s. based investment banks that are thinking of moving out of london and two rival and that's obviously making london a little nervous right now just like new york city or hong kong london has long been one of the biggest financial capitals of the world but post rex it u.k.
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capital stature and finance could fall morgan stanley bank of america and citigroup three of the largest investment banks in the u.s. might be clearing out their london offices and one alternative option being floated around is frankfurt home of the european central bank if the banks were relieved it could cause significant harm to u.k. business in two thousand and fifteen financial services revenue year two hundred billion pounds less than half of which was for u.k. clients move out of london could hurt u.k. employment two in london twenty two percent of the city's three hundred sixty thousand workers or non u.k. citizens with a horrid brock's it their future working there looks bleak there might be hope for those workers though during the summit on thursday british prime minister theresa may is expected to propose an offer to leaders that would allow e.u. residents to stay in the u.k. and. would certainly ease the pressure on businesses but we won't know until later
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in the week what the guidelines will be and right now a lot of questions remain the wants all of its citizens to remain protected by e.u. law and courts while living in a post that u.k. but the u.k. isn't likely to agree with that since it's given more rights. citizens than u.k. ones so there's a lot to iron out the rest of may's conversation with e.u. leaders this week should be interesting considering the u.k.'s central bank governors recent comments during the speech on tuesday mark carney said the u.k. will be worse off after officially leaving the e.u. . we've always got a lot of numbers floating around in pair of measurement so if it's good bad or ugly it's really hard to confirm those numbers but obviously carney sounds very very negative why can you really just point to one measurement what's the overall picture with him while so i mean he's an economist so he's looking specifically at the numbers that he is getting from his own institution the bank of england and
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their estimates are all looking pretty negative they're seeing a decrease in g.d.p. they're seeing weak income growth and they mean right now it doesn't look like the u.k. will definitely get access to the single market and if they don't that could really . spell even more bad news for the u.k. economy so he doesn't have many positive things to say about you know the u.k. immediately after breakfast that it could look different down the road depending on how they were cover from it but he is not mincing his words he's saying this is going to be hard for us we're going to suffer when we leave and you know hopefully we can turn things around but do not think that it's going to be all daisies and rainbows once we leave because it's going to be told the biggest also as you can predict the timeline on this you know there are now at that as well exactly u.k. chancellor philip hammond is right with him on these talks obviously going to be alongside him on his statements going forward what do you have to say about this any. reflecting or contrast in with carney well i think his words were
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a little more positive than corny's he was saying he's confident that the u.k. can get a good deal but one of the requirements of having a positive deal would be to secure a trade deal with the e.u. which they want to do divorce before trade yes of course so you know assuming that could happen then maybe it will be more of a positive situation but you know there's also a difference and then he's a politician carney's an economist so i think that's why their words were a little different otherwise they're using the same statistics so maybe maybe communicating them a little bit differently thank you so much. u.s. crude has hit a seven month low as the market tumbles by three percent bringing the price of oil to below forty three dollars a barrel most are blaming high production in the u.s. and abroad for the price drop with one often overlooked player adding to that the lot that would be libya artie's alex we are live and he joins us from toronto now with more alex analysts are saying oil has entered
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a bear market what exactly is happening here. well we saw futures drop by one point two percent in new york you know the gloves been happening for a while the drop especially the past four weeks and really the prices are dropping because of what you just mentioned i mean the oil production is up in the states especially you're looking at oil rigs popping up everywhere just. when you look at the past few weeks the number of rigs that have gone up we know that there are over seven hundred and it's been a steady increase of most more rigs we've seen gone up in the past thirty years so this is something that we haven't seen in a while of course this production puts a little bit of a monkey wrench in opec plans to lower oil prices by lowering production and then when you look at non opec countries such as nigeria also pumping up their production well then you really have a problem and with so much oil on the market obviously prices are lower all about supply and demand of course it is one of the things that's interesting too is that
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people cite libya as having as political strife that so many of us know about. that is exempt from these rules some nations have written off that nation. as having to sort of go along to prevent what's with the oil come back there never mind people just written off libya right now when. it's this when you when you look at libya i mean it's a country when you remember moammar gadhafi back in the day i mean this was a typical petrol state where oil was everything ninety five percent of the g.d.p. was dependent on oil well guess what even today after two thousand and eleven this is this country's been in complete disarray it still depends on oil and that's again about ninety five percent so this country right now just to give you a bit of an idea how it operates there really is no central government we're looking at two governments one that's bought by the u.s. and some of the allies the other dogs by russia and saudis and other people and so
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you really don't know who's really running the show there anymore you also have. fragments of gadhafi is old army that some people say are running the show when it comes to oil anywhere you turn it around somehow they've been urged to be selling oil and put it out in the world market now there's a company called winter schall they've managed to get to fields it's a german company really pumping out a lot they've managed to get some agreements going into libya even amongst the disarray there are now estimates that libya is pumping out between eight hundred thousand and nine hundred thousand barrels a day so this country that is a complete mess anyway you turn it around it's a player you have the largest reserves in all of africa when it comes to oil and it's one of the ten largest in the world so libya even without gadhafi it somehow is functioning and you know the way it is there it's a complete mess but well i guess all are talks louder than the politics and that at least in that arena of course you and i both know nato could know first seen all
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this oil when it first went in there of course it's all very very big surprise thank you very much for touching on libya with me alex coming out us from toronto thank you time now for a quick break stick around though when we return ford says it's moving production to china it's canceling a plant in mexico and exploiting vehicles from china to the united states for the first time starting in two thousand and nineteen also it's the most expensive house race in u.s. history i guess and i take it from the local level to national and international we're going to look at the implications there as a go to break here the number of cars out.
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the book. when lawmakers manufacture consent to stand up to the public well. when the ruling classes project themselves. to the final larry go around me the one. doing all middle of the room signal. the real news is the last.
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in case you're new to the game this is how it works now the economy is built around corporations corporations run washington washington controls the media the media control over the voters elected the businessman to run this country business equals . boom bust it's not business as usual it's business like it's never been done before. social environment. chemical discoveries over the last century made every day life easier but at what cost this is syria was exceptionally sick. no wonder it's. says since the years of industrial giants reap the benefit. caused by chemical production. as if these people are.
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just experimental animals. the toxic environment continues to poison lives and we found these astronomically high levels of barracks and levels of my staff to think maybe some of the highest levels ever in the united states for almost thirty years this very serious problem had not actually been addressed what will that investigation into the chemical industry secrets revealed. this. boeing's iconic seven twenty seven has been left by the wayside in future plans for its passenger planes the aerospace giant says the four engine behemoths and
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commercial aircraft models have gone out of style the future of the passenger market is all about sleek twin engine styles for long range travel at the paris air show this week it debuted its small newer twin aisle aircraft an officially dubbed the seven ninety seven which could enter service by two thousand and twenty five it was expecting the company was a three way race for its engine production with one of those competitors slated to be jet engine manufacturer. sure general electric however a later announcement by its leadership it's about out of that race david joyce head of g.e.'s aero engines arm says the fragmented market entering into green like that wouldn't justify the investment needed as all three would then spend a lot of money to design a brand new engine at great cost and then all of a sudden it would be splitting the market with few returns and the only way out of that would then be to send immediate buyers in for that and if you can find the
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buyers he says the company is still scarred from a similar deal it's entered into as a supplier for the air bus as c e a three thirty two decades ago. and ford motor company will export vehicles from china to the united states for the first time starting in two thousand and nineteen ford will move production of its ford focus small car from the u.s. to china where it already makes the focus for chinese buyers for its president of global operations joe hinrichs says the move will save ford one billion dollars including five hundred million from canceling a new plant in mexico that it intended to build for the focus u.s. focus sales were down twenty percent through may hurt by low gas prices and consumer preference for s.u.v.s but hinrich said small cars remain an important part of ford business he also stresses that ford will export more vehicles to trying out that it imports ford expects to export eighty thousand vehicles to china
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this year. and all political eyes in the nation are cast for the state of georgia six district it was a divisive congressional runoff election a bloody fight in the most expensive house campaign in u.s. history and now the voters at the polls let's take a look at the broader implications and it's distraction to getting things done on capitol hill that affect our country and the international community we go now too . brian pruitt here with me a contributor at red state brian there is some massive drama going on down in georgia right now let's talk about the young relative nobody democrat john also against republican karen handel it's a special election for a seat vacated by new cabinet member tom price heading up now health and human services secretary of that in the cabinet give us a lay of the land on this this is been brutal and very expensive very very expensive it hasn't been necessarily. what i'm hearing from my sources in
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atlanta is that the most recent negative ad against all soft has actually turned a little bit of the polling in handel's favor in the last week but that's been very last minute this is literally going to go down to the wire everyone is going to be up late tonight. this is also not an educated district this is you know they hear something. in atlanta in georgia people make draw their own conclusions about geographically where that's coming from important to point out that these are very educated people it's very fluent and they've had to ratchet up the messaging we're talking about fifty million dollars spent on that a few million dollars total it's amazing tom price won the exactly in november by over twenty points donald trump only want to buy one to two percentage points and obviously has some wind at his back so these people care i've heard again on
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the ground today that turnout one in early voting was off the charts and actually today the number of people voting is just astronomical interesting to point out with tom price donald trump obviously tom price getting way bigger numbers. it's a conservative republican area but they seem disgusted by the way things are going and it seems to be able to switch back and forth because it has had some sort of moderate message in there is that there's anything that's going to hurt it's the amount of outside money come in the amount of money just from the state of california is overwhelming millions of dollars and and i have a feeling that that may turn some georgia voters off right when they go to the polls i don't know again we this is a clearly the dictionary definition of a toss up why is that so important to people why is there so much money flow i
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think it's less important when it's going to make for good television obviously tonight it's going to be some good ratings but i mean the draw for all of the money i mean what people want him john the all the money is coming in because democrats want to send a message to donald trump ok it's about the message they want to have and the message if asaf when it's obviously or a rebuke to the trump agenda the problem is that cuts both ways because if. loses with all of this money and all the wind his back if he loses his hand right there he's right into the presidency and let's not forget that south carolina has a special election for mick mulvaney seat director of the office of management and budget that will likely stay republican but the margin is going to matter to d.c. insiders if it's even remotely close if it's not a double digit win for the republican the republicans have big problems in south
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carolina the margins matter here for what ends up going on in capitol hill the assumption of power all eyes are on georgia as i mentioned but they say and as you mention the same cannot be said for the special election going on in south carolina's fifth people say who is are cheaper now it was john galt who was our tea party now why does he matter what's going on only matters to you any matters to a lot of people in politics here why is this matters because what what d.c. is paying attention to is what these two races do as a set up for twenty eight terms right and if this margin in south carolina is anything less than double digits republicans have major problems going forward and the house republicans need to start getting things done we need to start putting some wins on the board so that they can get ready for twenty eight thousand for the midterms let's talk about wins on the board because these are special elections vacated by cabinet appointments they're kind of waving in the wind capitol hill
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hasn't really shown us anything we're looking at tax we're looking at health care we're looking at infrastructure august recess is coming up so to take it to the national level aside from the midterms is there any way on the back of these results were publicans will be able to get something done no matter what the results are because people are really looking at this what are we a month and a half from recess well in the house it's kind of two different stories. one on health care it's all in the hands of the senate right now well yeah i mean senator mitch mcconnell going to be leader needs to move something on on health care so that that bill can get to conference and they can actually begin trying to find a compromise on the house side they just need to start getting something done on anything anything yet and i think speaker ryan has a plan i think he does have a plan to the disease he absolutely does i believe they're going to get moving and they're going to start taking votes you may win some you may lose the got to start
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taking votes what does this mean for the future of funding i know it is a lot as you mentioned. the money going from from down into the into the democrats could hurt john also and this could be something people are really tuning into which campaign finance where is the money coming from what are the special interests going on what is california doing in our election is that going to have a future effect on this sort of thing well again it cuts both ways i think you know of course in this yeah if if all software runs i believe the democrats double down on every election going forward and poor money in to every potential competitive seat if he loses the enthusiasm gap just it becomes a chasm and democrats don't want to put good money after bad so literally this is the reason this election really matters even though it doesn't really matter in terms of who got one extra vote like to get to matters absolutely in terms of how
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we're setting up twenty eight in the midterms and the enthusiasm on the democratic side and of course the cooking that's coming out of capitol hill then that we've got to eat setting up to the midterms going into midterms waiting for this legislation to come out you know an interesting thing i meant to ask you about the g.o.p. members of the g.o.p. had talked about putting the brakes on august recess to get something done how feasible do you think that is think that's just lip service i don't think that matters so much to people back home because really because even though we. we we in washington think that they're taking lots of breaks a lecture to the reality the reality is members of congress go back on thursday and they start doing constituent services over the weekend they're still working they're still they're still working there they're back in their districts working so i think this whole the whole. sort of people getting upset about about taking a lot of time off it's actually not a lot of time off i was just there and they're there are there is there something for they're trying to get popular they're away from washington but they're not away
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from their constituencies ok let's talk about i just want to go back to this future of funding going through because obviously the midterms are coming up do you see this changing anything about campaign finance this this is made headlines over and over and over again about the millions of dollars being poured into these races is this something the republicans are against campaign finance you know tightening the ranch on that democrats are worth are for it even though they're pouring money into this is this going to change that the tenor of this as we move forward it's very little on the finance side of things the real thing to pay attention to going forward is the supreme court case on gerrymandered districts very interesting there that is the money side of things is much less important than this gerrymandering case that is coming up that's the will of massive implications going forward for how districts how we actually elect our members i just want to ask you some
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international questions sort of be on the the other side of this the world watches things like this sort of the political theater coming out of the country especially after trump was elected people really had their eyes on and how things are working do you think this gives a further negative flavor to the international community trying to make heads or tails of what the world is going on up on capitol hill or should we not even care maybe you don't care. to see democracy. it's messy and i think the world seen that elections have consequences and we the world should probably just take a shower now take a chill chill out you know relax our system has worked. for you know over two hundred years now and it will work it worked before donald trump or the work after donald trump but yeah it can be messy at times it's not perfect ok we know it's an experiment everybody we're trying our best you know what are you watching for tonight i know you're tapping away at your phone just just get in and i know i want
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to watch and the i'm waiting to see what the early returns are showing me. i follow give a plug for an organization called decision desk h.q. on twitter they really do you know they have they have the best exit polling out there. on their own it's just sort of hard. so i pay attention to their exit polling and you'll see early on not again decision this decision it's. good i noticed made yeah they're they're great on the ground they've got people doing exit polling throughout the district it's going to be an amazing night but they'll probably have some early indicators great thank you so much can't wait to see how this cross-section of voters is deciding this election is or go forward into midterms of course deciding what capitol hill is doing in the future thank you so much for coming by as always a pleasure brian pro a contributor. some
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people are annoyed by the sound of crying babies on an airplane we've all been there however one baby's cries this time weren't so bad a woman flying on jet airways gave birth more than thirty five thousand feet in the air the new mother it was on a flight between saudi arabia and india when she went into premature labor where the flight crew members actually jumped in to help deliver the baby with the help of a trained paramedic who happened to be among the passengers. the plane was redirected to mumbai so that the mother and child could go to the hospital according to the airline they're doing just fine after being sent in to a local hospital there now jet airways apparently gave the newborn a very nice birthday gift they've confirmed that free flight tickets for trips between saudi arabia and india has been bestowed on the n. friend for life it joins only a half dozen other companies to do so the baby however games another rare title
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it's passport will now hold the line holder born on an airplane go figure that's all for now folks check out the show on youtube youtube dot com slash boom bust r.t. thanks for watching the next time. you see the u.k. in crisis after a series of deadly terrorist attacks a hung parliament and the horrific human tragedy of the grenfell towers as well as the burning issue of brakes and many are asking if the ruling elite. but. you.
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can't. read those you don't consume you've been talking to them to do and to stand on the in that are equal distances until what he calls instance me going on in. this window we don't know him dual moves out to those. so there are sort of all. this talk about blackness and the blues of being black. and always will in a big house down at least that's what i've been told but he surely did we in remains as such because we simply forgot on. the scene we've allowed them to rearrange their plane you've told us the sickness of trusting our enemy we came to
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face. him that's what i call the lack of blackness or understanding the blues of being black. sheep the blues of being black should mandate that we attack knowing how when and what to do to come the simple in his national is being black is simply to the feeling blue is black and blue. beat. by god what is. the author of the. cuckoo.
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russia's foreign minister demands explanation from the u.s. over the recent downing of a syrian fighter jet as concerns grow over whether washington has its own agenda in syria. remains in gold and terror as another attack hits the belgian capital after a man detonated an explosive device at a brussels train station. this is how much is going to leave the survivors of. this makes the shocking when you see like. the u.k. government is heavily criticized anger at what people call the small sums allocated for the survivors of the felt our fire in london.


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