[253] Merkel on best sectors as oil declines and Peter Joseph on the ‘market paradox’
Our lead story: On Tuesday, the Senate Intelligence Committee released a report that details the interrogation techniques used by the CIA following the 9/11 attacks, specifying many of the gruesome interrogation techniques employed by CIA officers. The report took five years to complete and the details make it very clear that big money was involved in building the detention and interrogation program. Erin weighs in.
Then, Erin is joined by David Merkel – founder and president of Aleph Investments. David tells us what market segments he thinks could benefit from the recent drop in oil prices and gives us his take on whether economics is a useful discipline when making investment decisions.
After the break, Erin sits down with Peter Joseph – founder of the Zeitgeist Movement. Peter explains what he calls the “market paradox” and how the evolution of production efficiency has affected the economy.
And in The Big Deal, Erin and Edward Harrison discuss how technology has affected the economy and workforce. Take a look!
The Pentagon has moved to reject Microsoft's contract to build its JEDI cloud program following an outpouring of criticism from other players in the sector. Boom Bust's Ben Swann files a report on the major decision and what firms could now be in the running. (1:08)
Then we turn to the Federal Reserve, where the U.S. central bank has wrapped up its Open Market committee. Danielle DiMartino Booth, CEO of Quill Intelligence, joins the program to weigh in on the Fed's forecast for the nation's rallying economy. (2:41)
And the Biden administration has now weighed in on the recent wave of ransomware attacks that have targeted businesses around the globe. Cybersecurity expert Todd Shipley lends his insight into the situation as the trend has gained steam. (8:17)
Then we look to Europe, where Iceland has run a trial with a four-day workweek. Professor Richard Wolff joins the program to discuss the findings, and whether or not we could see the trend catch on around the world. (18:11)
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A new report says mobile data is set to increase sevenfold by 2021 putting a strain on mobile networks. And Bianca Facchinei explains why Wall Street is expressing concerns over President Trump’s talk on China and why there are worries of a looming trade war. Manuel Rapalo tells us about the Vizio televisions that are watching back – gathering too much information on viewing habits according to the FTC. Then after the break, Bart Chilton former commissioner of the U.S. Commodity Futures Trading Commission says there are real consumer protections in the Dodd-Frank act which are there to protect consumers and investors, but many Republicans are still anxious for its repeal. Later, Alex Mihailovich explains why refugees from Syria and other countries may be looking at Canada as their plan B. This is unnerving Silicon Valley companies looking for the best talent in the world.
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The Volcker Rule, which protects consumers from super risky investments by their banks is facing major changes and rollbacks! Bartlett Naylor from Public Citizen joins us to discuss why the Volcker Rule is so important. Boom Bust is also covering automation as fast food king McDonalds cuts workers jobs and Alex Mihailovich sums up tariffs and the North Korean Summit. That and more on Boom Bust! [1094]
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The Brexit Battle Rages on as the world watches, and the moves have been reflected in the currency. Former Scottish MP Tommy Sheridan and Hilary Fordwich of the British-American Business Association are both on hand to sift through the latest moves that could be pushing England to the edge. Plus, Brexit is only one brick in the crumbling wall of the global economy, but could it all come crashing down soon? Steve Keen joins us today from Amsterdam to break down the latest moves in the bond markets, and what could be dark days ahead for world markets.
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Can CBS survive the Les Moonves scandal? We talked to Margot Susca and got her thoughts on the situation and if CBS can survive amidst a sea of media acquisitions. Danielle DiMartino is back as we try and make sense of the latest market movements and data reports. Nick O’Donovan squeezes the story on Brazils power play in the US orange juice industry while Ashlee Banks takes a look at Campbell’s Soup! [1151]
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This week may prove to be an explosive one for the financial markets, given the possibility that the Fed may finally begin to pull back on its $85 billion a month bond buying program. We'll tell you about it.
Plus, why are some nations prosperous while others struggle? Is it due to culture, the weather, geography? Not quite, according to researcher Daron Acemoglu, co-author of the book, "Why Nations Fail." Erin speaks with Professor Acemoglu about the role of institutions in creating economic prosperity.
And voila! Is the Volcker verbiage venerated or vilified? Alexis Goldstein joins us to help render a verdict.
Finally, while Jeff Bezos's nifty-little drone-delivery-gadget had everyone pumped about Amazon, the online-retailer's German workforce is not too pleased with their employer. Rachel Kurzius and Erin discus this in today's Big Deal.
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Our lead story today: how the classism of air travel is a microcosm of our society. For airlines, the top 20% of customers; make up 70% of the revenue. But today the special treatment doesn't just start when you step on the plane, it begins at check in. Erin looks at the exclusive amenities offered by these airlines (and the cost of such services) and draws parallels between the starkly different reality of the wealthy and powerful and the reality of the rest of us. She asks, how mush "service" does one person really need before it turns into a disservice for society?
Then, we bring you part two of Erin's interview with Max Keiser, who provides a definition of financialization and explains all the problems surrounding it. He believes that as long as the Fed keeps interest rates at zero, we are heading in the direction of a collapse. He also gives his colorful view on a story we covered a couple of days ago: JP Morgan and their new business model.
After the break, we welcome Alex Daley the senior editor of Casey's Extraordinary Technology, which is published by Casey Research. Daley gives us his views on Bitcoin and its future. We also talk about the big Netflix and Comcast deal, which he believes is genius on Netflix's part. Watch to see his explanation and his views on how net neutrality plays into this case.
For the Big Deal, Edward Harrison comes on to explain what's happening in the Indian economy today after the "taper tantrum" in 2013. Harrison talks about the role Raghuram Rajan has played as the head of India's Central Bank, and gives an overview of some of the issues facing India.
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Backlash for United Airlines continues, after a passenger is forcibly removed from his flight and left beaten and blooded. Gary Leff, co-founder of milepoint.com joins us to discuss the latest developments in the United Airlines scandal. We then turn to a more global discussion with Richard Wolff, Professor of economics emeritus, University of Massachusetts, to discuss China’s relationship with North Korea when it comes to trade, Shell gasoline and Nigeria and fake financial news. Boom Bust’s Bianca Facchinei takes a look at the GOP’s efforts to break down the Dodd-Frank Act. After the break, we discuss Blackberry being award several hundred million dollars in an arbitration case. Lagarde sends America a warning about targeting single nations on currencies. Former commissioner, for the U.S. commodity futures trading commission joins us to discuss oil around the world. Finally, Manuel Rapalo has an out of this world report on Axiom, as the company looks to build the world’s first commercial space station.
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Republican leaders have proposed a follow-up stimulus package, but what roadblocks could it see going forward? Plus, the United States and Australia have made moves to discuss further actions in the South China Sea in the wake of China's recent moves in Hong Kong. And former Malaysian PM Najib Razak has been sentenced in court for his alleged role in the 1MDB scandal.
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