Named after him is celebrated on the third one day of february but the day is also known as president today and honors all other president s including president Abraham Lincoln one whose birthday is just past february twelfth well talk some more about president today with president ial historian from Boston University professor walter month tunnels and while u. S. Markets are closed nationally banks looks like Global Markets plus we look at the japanese Steel Industries response to the u. S. Commerce Department Proposal to impose curbs on steel imports into the United States all of that coming up but first lets get to some headlines. As the olympics continue in south korea south korean president moon j. N. Said on monday that the General MotorsCompany Decision to shutter a plant south of seoul in the city of gun sin would be a big bust for the nation and as asked as admit. Astray ssion to take measures to increase Economic Activity in the region the plan is applied as employed two thousand workers g. M. Operates three other plants in south korea totaling fourteen thousand workers and a decision on if they will stay open is expected by may of this year. Fundable corporations the Worlds Largest cruise operator says they are investigating the response of its security personnel to a large fight which took place on one of its South Pacific cruises that resulted in twenty three passengers be taken off the vessel much of the brawl was captured on video and posted on social media those involved were removed from a cruise a day early in the australian city of eden in New South Wales for committing disruptive and violent acts before the ship returned to melbourne this past saturday several passengers told local media that the security staff actually made matters worse carnival is a joint American British company and said the excessive behavior experienced on the cruise was unprecedented and has offered passengers a twenty five Percent Discount cruise credit on future trips. Facebook incorporated will begin sending postcards later this year using the old school Us Mail Service to authenticate the identities and location of people who want to purchase us elections related advertising on its site according to a Senior Company executive the post card idea effort is in response to increasing criticism that facebook failed to detect a respond to the use of their platforms to spread Divisive Political content during the two thousand and sixteen president ial election. The u. S. Congress appears ready to consider new rules to impose firm federal oversight on the emerging cryptocurrency asset class news reports indicate that there is a bipartisan support for considering the effort in both the u. S. House of representatives and the u. S. Senate the move is said to be in response to the growing size of the Digital Currency capitalization which some say could have an impact an adverse impact on the u. S. Economy a Senate BankingCommittee Member republican senator mike rounds said quote theres no question about the fact that there is a need for a Regulatory Framework crypto currencies are currently regulated by the u. S. Securities Exchange Commission before the Commodity Futures Trading Commission my old agency the department of treasury and the u. S. Federal reserve and individual states. Japans seal industry said on monday that the a proposal by the u. S. Department of commerce to President Donald Trump would impose curbs on steel imports and that it violates the principles of free trade for more were joined by r. T. Correspondent dan cowen dan thanks for being here so whats the latest on on these on these still import potential quotas good to be with you bart the japanese Steel Industry is up in arms over the commerce secretary wilbur ross his recommendations to the Trump Administration to curb the import of steel and aluminum from not only japan but also China Vietnam venezuela these would be implemented through tariffs and import quotas on japan the japanese iron and Steel Federation chairman coast said tariffs are a violation of the principles of free trade and of course japan is a Major Trading partner of the u. S. Very important one there is opposition in the u. S. In the Republican Party from trumps very own party the tariffs could actually have a negative impact and spike prices in products like automobiles electrical wiring and even beer cans. Ok now weve seen with the Administration Just really in the last two weeks dan that they are not shy about imposing import tariffs they did it on solar panels we discussed it here on the program in some detail and they also did all of washing machines so whats the timeframe on the president making a decision on secretary rosss proposal or President Trump has until april eleventh to accept or reject the recommendations so i think in that period until april eleventh we can expect to see a massive lobbying fight over this issue and it. Comes at a particularly interesting time in terms of Foreign Policy as u. S. And north korea trade barbs and threaten war there are elements within the trumpet ministration that are pushing for a socalled bloody nose strike namely chief of staff a charm macmaster and japan hosts twenty three u. S. Military bases so this would serve as a major point of attack for the u. S. If it were to actually happen but isolating japan pushing japan away like this could have adverse effects on u. S. Policy as japan may end up looking to regional partners trade partners like china and russia which the u. S. Has kind of identified as adversaries you know i wonder you mentioned that this isnt just on these import quotas isnt just on japan but you mention China Vietnam and venezuela maybe a another one but vietnam and venezuela are are small potatoes in the Steel Manufacturing business but china and japan are big japan is so big my recollection is theyre only like were like five percent of our exports is this more about a precedent setting you know thing with regard to the trumpet ministration or is japan do you think really worried about their exports well i mean i think japan is worried about it about its exports its not an enormous amount but. You know japan is i mean since World War Two japan has really relied on the u. S. After the u. S. Restructured its economy. But i think you know the important thing domestically if we look at domestics is trump is going to rely on rust belt voters where basically he needs those voters to come out and vote in the midterm elections and then the two thousand and twenty election when a lot of those voters came from traditionally blue states where he narrowly defeated Hillary Clinton and so hes going to really rely on these voters you know in the future and little primarily were talking about ohio. Michigan indiana pennsylvania my guess is that for some of those republican senators that youre talking about of problems with this are coming from also then colin archie correspondent thank you for being here for sure appreciate it. While u. S. Markets are closed today Global Markets are open ashley banks has the latest on Global MarketsGlobal Equity markets saw their best week and more than two years this comes as investors continue to focus on corporate earnings and improving Economic Growth the stocks europe six hundred index was marked at point seventeen percent and frankfurt and benchmarks in germany and france were also weaker Falling Point one percent and point fifteen percent even as financial stocks posted themes now the m. As c. I world index would strax shares in forty seven countries was down point one percent it has recovered close to half of what it was between late january and last week slow because last week it posted again of four point three percent which was its best a Weekly Performance and system for two thousand and eleven here in the u. S. A few facilities were the biggest gainers in europe seeing gains between one and four percent the s. And p. Five hundred index has remained below twenty for three days two weeks ago it spiked to a two and a half year high of fifty point three this jump causing massive losses among investors who bet equity markets what say stable on a combination of solid Economic Growth and moderate and place known david madden said that investors at knew there be a low probability the market would turn for the worse at the u. S. And canada celebration Public Holidays and that weighed on enthusiasm and this part of the world dealers decided to lock in their profits from the week. Over in asia stocks extended a six day winning streak m. As a see i report of the continent saw up one point four percent gain heading into the closing bell and Global Oil Prices were also on a rise today placing crude oil at a two week high as investors bet on stronger Economic Growth and worried about rising geopolitical tensions in the gulf region as it pertains to the u. S. A dollar its edged up from three year lows against various currencies however it still appear to be weak experts say its being weighed down by various factors which include widening u. S. Trade and budget deficits and to speculation washington might pursue a weak dollar strategy there is also speculation foreign Central Banks may be reallocating their reserves out of the dollar counts and reuters a lipper xpect Fourth Quarter earnings will grow fifteen percent from the same period and twenty six team reporting for boom bust actually banks art. On this day in one nine hundred forty two another president franklin d. Roosevelt issued an executive order which initiated the controversial World War Two policy in the wake of the one nine hundred forty one japanese bombing of pearl harbor to round up certain americans primarily japanese americans many who had been in the United States for decades if not their entire lives and moved them en masse to what were called relocation camps for the duration of the war the japanese americans were ordered to take no more than they could carry on their backs with them the grim civil rights record of that action was litigated several times including during the war by the Us Supreme Court which upheld roosevelts executive order twice. It wasnt until another president gerald ford signed an order prohibiting the reinstitution of such an executive order that he found reprehensible twelve years later in one nine hundred seventy six president Ronald Reagan issued a public apologies to the japanese americans and their descendants on behalf of the u. S. Government and authorized reparations to the former japanese internist and their heirs. As we go to break heres a quiz question for you in rank order one to four who were the wealthiest us president s in current dollars your choice is George WashingtonThomas Jefferson donald trump and john f. Kennedy will have the answer after the break. When you dont. See the. Dead equip you need. To what they need not through only ten steps. Left to go they. Said. Time into you know turning to message that. If you meet friends. In the same year. Then send them to new imposable and he still could visit them to discuss. Them and was selling you on the idea that dropping bombs brings us to the Chicken Hawks forcing you to fight the battles but still. When you saw try to tell you that theyll be gossiping topless one day. One of my advertising tells me you are not cool enough to buy your product. These are the hawks that we along with all the one. Welcome back heres the answer to our quiz question rank order who are the wealthiest u. S. President s in history they are done will trump john f. Kennedy George Washington and Thomas Jefferson despite the fact that donald trump is the first modern president to not publicly release his taxes he is clearly the wealthiest u. S. President ever he inherited a large sum from his father and invested much of it in real estate resorts and casinos his total net worth is estimated to be three point one billion dollars and like donald trump j. F. K. s wealth has a cause in that he died before he received his large inheritance from a spotter had he received the inheritance along with a wealth of his wife jacqueline its estimated that j. F. K. Had would have had a net worth of one billion dollars and coming in third is the birthday boy George Washington who earned one of the largest u. S. Salaries in fact he owned more than fifty thousand acres of land bringing his wealth to roughly five hundred twenty five Million Dollars and the fourth wealthiest president is one of the key authors of the declaration of independence and the third president of the United StatesThomas Jefferson who made most of his money through inheritance from his father in which he gained the estate of monticello his net worth is estimated to have been two hundred twelve Million Dollars thats your president ial fun fact for today hope you did well. Professor montana welcome to the show to talk about president s thank you so much for being here so when we talk about how much impact a president can have on the economy. They stopped work with congress so what is their power we see the president has just passed tax reform but how much power do they really have by themselves i think is story they could the consensus among historians is that president s dont have all that much power when it comes to the short term specially they have to act the size that they have a vision of what they want to do with the economy and where theyre going to actually take it but i guess the best indications to see where president s take the economy is seen long term when we look back obviously the one nine hundred thirty s. The one nine hundred early part of the sixtys the eightys the ninetys its very difficult to tell now the president has a real impact unless hes a true visionary with a real plan you spent a lot of time. Studying president nixon did he have an Economic Policy that was. Approved by congress he did basically in and one of the key things to talk about nixon is and everybody brings of watergate we make these associations with present there is that there is that the plan the nixon had people often say had watergate not occurred and had the boom boom of the one nine hundred eighty s. Taken place during the seventys maybe nixon would have been perceived differently by history. Nixons often given bad marks because of the over regulation of control with price controls and that sort of thing so he had to deal with quite a few other issues in addition the economy in addition to watergate the middle east whats happening with china detente etc so hes not usually perceived as a strong economic president given the circumstances of what would become known as stagflation inflation etc etc now i mean we associate president nixon with not associated with opening up china where there are other economic policies that president nixon pushed forward. It really mattered to the economy in this sense not a heavy heavy footprint when it came to what was happening with opec in the early one nine hundred seventy s. Its a post vietnam war era so there is a bit of that funk and what the United States has had to deal with during that time theres not a not a head not a real heavy footprint he talked about the new federalism which was going to be under that whole mantra of a new nixon and being an active president that regard he everyone who reads read about nixon very specifically knows that his passion wasnt exactly there was more in Foreign Policy not to be said was he dormant no but were his policies. Top of the line effect to remember for that sort of thing no not really lets go not fast forward to i only want to go up to president reagan but you know he was the last president to pass tax reform in one nine hundred eighty six and we all remember that phrase trickle trickle down economics and that phrase is been. In the recent conversation with with tax reform what were the differences between how president reagan passed tax reform professor and how President Trump helped get it passed i think definitely is relationship with congress one thing we look back on reagan for someone who affected change who really believed in the art of symbolism reagan stood out in that sense he reached out to his fellow democrats worked with his own party to try to get legislation passed people know the famous stories between him and tip oneill speaker of the house back then where they were able to debate on the scene sometimes very aggressively but they everybody knew behind the scenes they both respected one another so it was a beloved figure in that sense obviously very controversial for some policies given what happened with the deficit and the debt and whatnot but really arent common iran contra as well but he knew how to reach out he was that symbolic president who knew that it mattered to Reach Across Party Lines and also from the press in some cases he wasnt there wasnt as much antagonism between the press and the president back then as wed as we can. You know by now i remember a great story that Chris Matthews told of his book. Tip and the gipper i think it called a couple of years ago where she talks about president reagan being in the what was essentially a green room a holding room before he gave the state of the union and he said to the president Chris Matthews did was a staffer to tip oneill said how does it feel to be in the room where we plot against you but the president said now chris its after six oclock or Something Like that were all friends so if there really was a a different time and i was actually on the hill then a little bit was a pretty good time for working across the aisles and it seems controversial too controversial now let me ask you about that when you go back to the president s throughout history and you think about the divide with a congress that did divide with the other party has there been a time that you think really has been more polarized with president s in the past i think its a matter of context is a big thing we do have to look at the civil war because that was a period of time when you had congressman who literally would pull their weapons out and put it on their desks in the senate floor obviously there was the caning of senator sumner and what not between in South Carolina massachusetts and i guess you file and obviously with this animosity we see todays definite different it seems that after the civil war obviously there was a bit of acrimony between both sides but people seem to be able to talk to one another now theres a certain sense of disrespect the fact that congressmen and senators have to focus more on raising funds and going back to their home districts between thursday monday and thursday of every week theyre focused on legislation here the rest of time theyre raising funds and that seems to have taken a bit away from from whats important which is relationships with you know the in washington and president s usually with the visionaries and pushing in that direction and sadly were missing thats what i think a little less acrimony a little bit a little bit more of practicality on both sides and the congress and in this in the executive would be an important thing right now. To get something done you know you cant just rammed things through and we saw this tax reform bill but i want to talk about something and we will go in the way back machine a little bit and i was reading a book recently about George Washingtons birthday now talking about infrastructure building canals over the over the mountains to get to get west but really when you think about moments where infrastructure was important and were talking about a big infrastructure proposal now the president has put one out one point five trillion dollars proposal but lets go back to the civil war professor and talk about how infrastructure played a role in the civil war and really helped honest abe lincoln absolutely when you look at what was happening in washington back then and it was a major metamorphosis between what was happening in the eight hundred fifty s. In the latter part of the eighteen sixtys washington is transformed almost as intensely as it is during World War Two the city just completely changes overnight lincoln having been a whig party member prior to being a republican was big on internal improvements as people may recall being on infrastructure began setting the ground for what would eventually be the Trans Pacific railroad railway act that he would pass an eight hundred sixty three so some of the deathly we have to give lincoln back in the day a lot of credit for being a real visionary for being a practical politician and that sense when he signed the Pacific Railway act of eight hundred sixty three that leaves a direct line to chicago or chicago was far behind st louis a direct result of this of the civil war and that act by lincoln leads to chicago being the major metropolis that is eventually connecting to the west so is a whig former whig party member and as a brand new Republican Party president that was an important facet of the Republican Party platform back in the day and that ended up actually helping the north when the civil war in the south had. Lots of con cotton plantations expectorate but the infrastructure to ship things back and forth was great walter montana professor at Boston University president ial historian scholar thank you so much for you here real pleasure appreciate it thank you. And before we go on this president s day in the us it might be a good time to recall that George Washington even as a child told his father of a damaged cherry tree i cannot tell why i did it with my hatchet whether myth or fact the story appeared of misers washingtons personal virtues which made him an excellent leader and our first president and honest president Abraham Lincoln honest abe this memorial we stand in front of right now he was called by that moniker from an early age and it transcended to his life in politics even as political foes senator Stephen Douglas for example with whom lincoln was competing for a senate race said he is as honest as he is shrewd and if i beat him my victory will be hardly one lincoln lost that senate race against senator douglas but two years later they were at it again the running for the presidency of the United States when lincoln won douglas said you have a very able and very honest man as president everyone knew of honest a about his integrity he didnt need to spend time convincing people that he believed what he said when he said what he meant instead he spent time on doing things like saving the union during the civil war theres more outright lying in Politics Today than ever before in history and unfortunately it starts at the top if you want to check out political fact dot org for unbiased assessments of the truth telling politicians feel free thats political fact dot org what a sad state of affairs for our country our economy is finally getting out of the gutter there are many reasons to be hopeful yet politicians are having a terrible time with the truth and some in the us have simply overlooked it we can all probably a do a lot better the politicians and us we. Need to hold those who lie accountable and they the politicians need to listen or theyll be voted out at least thats how it should work if we all do our part the politicians will follow suit and that will help keep our nation on the right track for our people and our businesses and for the economic engine of our democracy so perhaps today some will heed a lesson from two great president s who thought truth was terrific happy birthday mr president. Thats all for now on this president s day thanks for watching be sure to catch boom bust on you tube at you tube dot com slash boom bust archie see you next time. Right here paul this is and theres a way to practice is they dont pressure oppressive measure this being deployed against the Palestinian People everywhere around the set of colonialism the theft of our land and the many many. You know give us stating things that theyre coming because of the link of course they can cool a sense of that in the club uprising. That just. Certain i want to do is just show a new face do we really be very clear lets go away go to. Management. And they on they they when they at the end they have nailed the bad minute. Skim you need to feel this really. Sucks yeah im them what do you how to become a celebrity look local one then the two of us come to mind if this was actually my helmet i mean that would measure up lets talk more negative fashion. Shows seemed wrong but all roles just dont hold. Let me. Get to shape out of this they come to the ticket and engage me because the trail. When so many find themselves worlds apart we choose to look for common ground. Where americans were smooth enough but what thats not us americans are proved ruthless huckster golf playing sharks thats who we are and thats. Thats why i dont like the look thats what the lunchroom. Mourners grieve for the victims of Sundays Church shooting in southern russia which investigators think could have been an act of terrorism. Turkeys president and reportedly threatens close occurrences if Syrian Forces enter their own city of afrin after rumors they were preparing to help kurdish militias repel a turkish offensive. And in the midst of the alleged russian meddling saga a former cia director admits the u. S. Doesnt interfere in other countrys elections when its for a good cause. But the latest on these stories head to r. T. Dot com coming up a former foreign minister of palestine is the guest on sophie and co talking about the middle east peace process