These retailers and take a huge chunk out of their earnings because we havent seen this since 2013 that we had 6 plus days and 2013 was one of the worst years for retailers securities a lot of days but lets also be clear about this so the american retailers theyre obviously going to take the hit them from what youre saying based on christmas so they really have to make one of 2 choices right choice number one is you have to raise the price on those items so that the consumers have to carry that cost or as a retailer you dont want to anger the consumers so you simply eat the cost yourself. With what theyre left with or both actually because they have to rely on both aspects in order to make their margins work and right now all the Amazon Sellers have been feeling this and 72 percent of them have actually increased the price of their goods furthermore the latest market surveys show that while 60 percent of American Consumers say that they are worried about terrorists when asked about their actual behavior of what they will do 70 percent of them responded that they will not increase their budget meaning that they will not increase in. Or to catch up to the rate hikes which ultimately mean that they will end up buying fewer goods overall ok so here we are with the u. S. Retailers that say that the 15 percent tariff comes along u. S. Retailers get hurt at christmas time but the chinese retailers they would actually hurt it to next year right into next year which is why this year this didnt really impact manufacturing because manufacturers are they got their orders for the Holiday Season from the retailers however these tariffs are not going to extend into 2020 and then after that theyre not going to see any more purchasing orders and thats whats going to really hurt chinese manufacturing in 2020 and beyond ok well there you go so there you have it so what is the line here if this is one deal does not get done then the chinese are saying that in order to get things when done again they say the u. S. Has to cancel tariffs already president has impose tariffs on billions of dollars of chinese goods to force major changes in chinas trade and industrial policies. And the German Economy narrowly avoided a technical recession with an unexpected point one percent print in the 3rd quarter manufacturing has become the achilles heel over the past 18 months as rags and the china us trade wars has disrupted manufacturing and deeply rooted supply chains that have been built up over the past decade Investor Confidence is souring and despite this positive print german officials have stressed that it is a mistake to only consider total Economic Growth when evaluating the health of the economy acknowledging that there are some structural issues that need to be addressed in order to stabilize the economy to give us the latest were joined by hillary for which board member of the British American business association. So while not in technically a recession german numbers right now still remain weak and theyve been dragging for the better part of this year so why is germany still cling to this montra of black sierra and its commitment to a balanced budget. A couple of factors there chrissy number one i mean thats cultural the germans of being fiscally conservative forever thats probably never going to change a couple of things that affect the numbers though this year easter actually fell rather late so you have the slowdown effect was not just from march it kind of went over and struggled into april so it affected not just the 1st quarter but the 2nd quarter and also it was a very mild winter winter in that part of europe so just in germany all construction issues and lots of things that would have factored into into q 2 already youve seen that build up in q one also i would say long term the germans look at things big picture and long term think about this the germans actually have sovereign debt low cost low cost of debt this is the any other european country and that is sensible and that is going to keep the german account economy steady because they have such a low cost of debt so i vision germany is just going to remain stable no massive growth they have to be regulations for that sort of course is already beginning to fall because a lot of German Companies that supply chain is being sort of lay down and disrupted so you have to look at the commitment i guess to this fiscal policy generally and certainly makes sense if youre an Austrian School of economics thats what youre going to believe but at the same time does it not put germany at somewhat of a disadvantage compared to what everyone else is doing having that looser attitude towards that but some people might say that germany is a sucker here because theyre holding on to these principles why everyone elses is spinning spinning spinning really where the money is there or not but i think a lot of people actually bank could learn from not spend spend spend thats why the germans always remain steady and and effectual khana me big picture i think again this lower cost of debt means you dont have all those overheads look what were doing in the u. S. Look how much money we spend a lot actually is bigger than any other agency spend any other benefits spends any other social spend any other military spend is our cost of National Debt so i actually think in the long run that being sensible you dont have to follow and be a sheep and follow like everybody else does a much greater issue with all of them. New factories are going to do when the United Kingdom is making all their deals with canada the us and australia thats going to be a bigger issue but what manufacturing dragging like this whats actually going to be the catalyst to actually stop their Manufacturing Activity and hence their growth overall one of the things theyre doing and thats actually taking a lot of activity is trying to transition from diesel manufactured cars to electric im all they gear box manufacturing and all of the sort of like theres production lines a lot of investment is going into ai and renovation thats where theyre most of their spend thats where theyre going to have to spend more as well you keep up with the current economy you know obviously european markets looking a little bit today because of this back and forth between the u. S. And china and at this point europe is kind of in the middle of the middle road between the spread between the u. S. And china at what point do we see europe being able to pull through this and the deal getting done here that doesnt continue to drag on everyone because some people who are as you know would say there is no actual win here this is all political theater and that ultimately its going to be much ado about nothing so at what point we just move on from it and everybody declare victory well i think thats what politicians are going to do anyway the long run right i thought as if they were trying to save your im president of the us im not im not president of the world hes going to just going to look at things in the u. S. I think either way i mean merkel has to declare victory she has to declare victory whatever happens with bricks it and i think what youre going to see is youre going to see on december 12th after the vote it looks like the conservatives obviously in a strong position i think what youre going to see is youre going to see the tariffs the chinese are in a far more desperate stance than the u. S. Is and i think in the long run youre going to see definitely the u. S. Will declare victory with the u. K. And the chinese are going to find some way to have to say that too i think also one of the victories coming out of asia recently is that tokyos recently named the number one high tech city in the world i think youre seeing a lot of Technology Sort of center in asia that you never saw before the growth there is astronomical a lot of that is a move to a i that theyre in the front of but really there is no winner in overall tariff. Are you going to determine who wins in this. Because there isnt a winner is it depends by the dozen just a game hillary for which board member with the British American business is always good to have you think so much about pleasures in. Brazil russia india china and south africa the group of emerging markets known as brics are backing the idea of developing a common Payment System russia annexed brics pairs have been looking for ways to decrease their dependence on the u. S. Dollar and have been advocating using their National Currencies in mutual trade the 5 brics nations have also discussed potentially creating a common crypto currency for payments as well these discussions of dollar izing are accelerating in the face of u. S. Protectionist policies as countries fear the u. S. Weaponize ing the dollar through the dominance of the network the us has previously used this west as a weapon before and 2014 when it blocked russian banks out of the network and recently the us also threatened to lock china out as well tensions between china and the us are mounting once again after phase one appears to be far from complete president xi jinping reiterated to the Brics Council that protectionism and bullying are harming the Global Economy and hurt International Trade and investment and it intensified pressure on the Global Economy that is already cooling from lack of growth. And for more on this and the latest from the brics i met r t correspondent elaine to try and go files this report from brasilia. Summit in brazil is done and dusted brazil russia india china south africa by the way the combined g. D. P. Of all these stations amounts to about a 3rd of the global g. D. P. And that share is growing i was going to say that. Spend 2 days in the capital of brazil and we were supposed to see for instance one of our. Being at the apec summit which was supposed to take place in a couple of chile. But this gathering is not happening at all at least for the time being although with brazils new president also naro being very keen as it seems to strengthen his countrys ties with the us and allies there had been worries that brazil might lose interest in some of the breaks projects which could in turn undermine the group however i just heard from the russian leader Vladimir Putin who could be considered one of the Founding Fathers of the group that brazils brics commitments are there to stay now apart from the Huge Investment and trade ambitions and between all the members the brics nations are looking forward to create a common cavemen system now this is being done to somehow do business in the countrys own currencies and i can tell you that dethroning the dollar is something that the brics leaders have been talking about of for a while although something completely groundbreaking an idea that we heard here in brazil was the creation of a common crypto currency the journalists heard about it from one of russias both economic officials which is a real surprise given some of the attitude that we have known about in the past from the authorities of china and russia towards cryptocurrency now of course a great deal of attention was given to the speech of the man in charge of the biggest economy of grace that is china and of course im talking about the chinese leader xi jinping his partial trade deal with the american President Donald Trump yes talking about the trade wars once again is hanging in the balance but the chinese leader made no mention of it whats. So ive heard during his speech here in the capital of brazil does that mean that there were no messages from him to the u. S. Absolutely not she made it clear that he believes that protectionism and bullying is something that is hurting the International Economy the most at this point and clearly this was a signal for someone that is outside the brics club. Well time now for a quick break but hang in there because when we return president visits at the white house where they talk about trade ties between the u. S. And turkey but what and how much do they actually trade and as we go to break here are the numbers of the close. What i suggest is a call the reverse hunger games reverse going in a random way pick 10. 00 to 15. 00 billionaires every year and strip them of everything get it down to 0 and course im out there and make it into the world of commerce and see if they can build it up to scratch again introduce risk back into the American Capital system once you have a sort of lot of money theres no more risk youre just clipping coupons for unity and you have no stake in the game whatsoever. Just to my hardest you are dashboards to combat it. Dhanush. To design human to be. Better laden or ricky. Then same country because he must stop telling officiality make us tell us if they should be on the move has suddenly become one thing my mother but then if it had been a bus from the. South. Its. The monkey to move the whole thing as opposed to hot buttons in most of what is is you guys just have come since. You insist its all just so you dont know many of those young they have. I see so much smoke the soup he chews still so not to see none of. That sitting and such shit. Those who consume Corporate Media will believe the Bolivian Army rightfully overthrew the democratically elected president of bolivia the word coup is not mentioned but this is exactly what happened the tried and tested Color Revolution playbook was on display for anyone paying attention bolivias democracy is in retreat. Welcome back just a couple blocks from where were sitting right now President Trump has been meeting with turkeys president to one what got our attention was President Trumps discussion of trade between turkey and the u. S. Listen here to what the president said during a News Conference on wednesday were grateful to president gun and to the citizens of turkey for their cooperation in the constant struggle against terrorism he fights it like we do key to our security collaboration is our trade defense and military Equipment Program American Foreign military sales to turkey total many billions of dollars and turkey supplies Component Parts to Many American defense programs they make parts of the frame as an example for the f. 35 in the future hopefully so brother drum went on to say this that coming up in the next few years he wants to see the trade between turkey and the United States increase to about one 100000000000. 00 a year which he says would be a 4 fold increase from where it is right now not quite true actually its only about 10000000000. 00 a year do we have that sound bite by that one. He but it could be many times larger and turkey would like to see that and it would also be good for the United States so we intend to bring it up to about 100000000000. 00 that would be 4 times what it is right now. Our goal is to expand commerce between the United States and turkey reduce our trade deficit and it surely truly fair in recent book the relationship thank you. Ok so you heard it there 100000000000. 00 which he says is 4 times what it is now is not quite true but one of the things we want to look at was what does the u. S. Trade with turkey and vice versa what 2800. 00 trade with turkey was actually just a little over 10000000000. 00 and take a look at this of the top 10 imports from turkey into the u. S. Number one carpets and woven Floor Coverings in Motor Vehicles gasoline jewelry antiques and actually granite and marble round out the top tin the top exports from the u. S. To turkey include civilian Aircraft Parts scrap iron and steel cotton plastics sugar starch residues and of course whenever the president talks about a trade relationship he always goes back to military spending the president also complained that turkey had purchased sophisticated military equipment from russia saying so and said that the state department and the white house will work to resolve that situation as the 2 countries work toward that 100000000000. 02 way trade agreement. Black Tank Technology is going i. P. O. But is traditional finance willing to accept this new tech that is basically encroaching on their territory can uncreate of the mining giant had just moved it is expected i feel a valuation to 100000000. 00 previous estimates were in the 200. 00 to 300000000. 00 range given the company a fully diluted market value of 1400000000. 00 this raise is now way down from previous filings last year when it was looking to raise 1500000000. So this begs the question as it keeps on going lower in lowering in the range is traditional finance market ready to accept it now to help us answer this we bring in the target it was director of the American Institute for Economic Research so geoffrey we just saw a cannon downsizing and now another soft Bank Portfolio company is looking to i. P. O. And list on the nasdaq the chinese spend one connect the block in a i arm of pain and chinas Largest Insurance Company is now targeting 100000000. 00 raised by the i. P. O. Now previously soft bank funded this company 2018 bring the valuation up to 7800000000. 00 so what kind of validation are we looking now in the Public Market and doesnt even make sense given its revenues or lack there of an ip. Well look were living to a time in which blocks and technology is going. Right and with that comes good things and bad things comes good in the sense of the technology is beautiful i mean one connector going to has you know Awesome Technology 50000. 00 transactions per per 2nd you know with with permission of. Effortless beautiful results. Across every kind of industry thats beautiful but with that comes all kinds of hysteria as. Bubbles and frenzies and wild speculations so yeah the revenues not there yet but you know thats where markets are they always look into the future and theyre always making mistakes too so it just goes with the territory for me personally im just delighted that 10 years in. Tech has is now being looked at you know all over the all over the world in this i. P. O. Actually a very to me a very exciting thing isnt just the future its actually the president actually owns the 2nd highest number of block gene patents in china and this is pretty significant given the call to action earlier this week im sure you saw from president g. So what are they planning on using the i. P. O. Proceeds for and what sectors do you know that they intend to. There is there is the minimum the applications and the 1st love applications Payment Processing right i mean its settlement is the functions that banks have in the past i was done and Central Banks that transaction settlements and thats thats great because youre a massively reduced kind of party risk and getting unbanked involved and also you know many payments around the world are not actually using banks right now theyre using the social media apps that sort of thing so its a matter of making the speeding them up and making them better reducing kind of party risk and thats beautiful but the applications of block itself are much go much beyond this its a matter of documenting ownership rights and so if you can think of any kind of industry in which you need really Efficient Technology for document the ownership rights to go beyond just Old Fashioned databases were talking about real estate insurance automobiles you know anything that requires titling and. A clear application of provenance which could include everything from from from art to really to anything that involves Property Ownership chain is an application the next generation of documentation technologies so so this makes the mind run wild and look were just at the beginning of of seen Companies Like this a multi 1000000000. 00 Companies Involved in Building Blocks as a lot of this is going to be end up a waste you dont have many friends in this industry a lot of it to you to tell me that they go to work instead of their hands and and receive you know a 6 figure salaries for doing absolutely nothing i mean this is where markets where theres theres frenzies theres hysteria as i know i know the world really well but out of this is going to come many many awesome things among which i believe is going to challenge. The america. Had germany over over World Finance actually i think its very interesting that some of the biggest and most important innovation of the sector a coming not from the United States for from asia and i think right now the u. S. Is sitting in a sit in of course on its usually have dramatic relations over the world were going to see it slip away over the next 5 or 10 years thanks to Block Chain Technology and that i think is very exciting now one can i previously did try to i. P. O. In hong kong but they failed to raise its target of 1000000000. 00 out of 8000000000. 00 valuation now other blocking companies such as mining giants that mayne and canon created also previously tried to stay in hong kong but they all failed so why is that obviously you see as you pointed out has a tremendous interest and watch chain and a huge appetite for it so why did all these i. P. O. s fail to take in hong kong. Because ive got 2 words for you trading fees right there too high in hong kong thats what it comes down to and theres got to change this has such potential with this with this i. P. O. Market to to to to to make things more wonderful than they can be in new york which is a very clogged up regulated system but these trading fees that hong kong are killing the i. P. O. After i. P. O. And somethings got to be done to change this and i think they will be and thats the whole reason for the failure thats it you know you want to look at failures like this you know you have to look at these kind of these kind of mandates of regulations these fees and the just too high and they really do cut into efficiency of markets geoffrey one more question for you before we go soft bank weve got to talk about this here because after the we work implosion were billions of dollars of value were just destroyed in a vacuum evaporated softening came under fire with many people calling this the now a ponzi scheme some are even calling it the next in iran they pump up startups to insane valuations and then exit with an i. P. O. Weve seen this with so many failures if we work door dash and so many others whats your take on it i get it but ponzi scheme goes too far what i would say is that Central Plain and planning than private markets is just as likely to fail as it is the Public Markets you cant anticipate whats going to work and whats not going to work youve got investors following this one company around like one of the funny one of the funny would take my money take my money and thats going to work over the long term like i say markets are never perfect but i think theyre better than the alternative but Central Planning doesnt work in this company is as become a central player central planner of the newest coolest thing and its not working out for the moment that much is clear jacki ducker appreciate having you as always. A pleasure to get of which we work it just gets worse more bad news as the office space startup is now reporting a loss of 1250000000. 00 in the 3rd quarter as expenses have far outpaced Revenue Growth in fact investors were also told that occupancy rates are at 79 percent which is the lowest they have been since 2017 a lot of this is due to the rapid Expansion Plan that was put into place by the now former c. E. O. Adam newman its worth mentioning by the way that we work would have run out of cash completely by the end of october had it not been for the 5000000000 dollars bailout from its largest investor softbank that company which is searching for a new c. E. O. Says the new direction of the company would be to lease to larger enterprise customers. Thats it by this time you think i must at youtube dot com flood us r t the next time. They head off isis is decapitated by delta guys aisha ideology is still there regrouping they have sleeping cells not on the internet iraq but in syria too so we have to did with this problem after the fall of the long term as it was but not then was decapitated but that was all true to so i think the 2nd longer d applies to this terrorist organization which have a global. And were going to fulfill the repeated purposes of politics to the people i promise you know weve all pots the. Pretty. Pretty good burka now you want to 1st correct that. I know. Full. 5 well youve got a coming coming coming out my young. Your government and our government and all the other major governments of the world know whats going to happen and when its go but they havent told you and they havent told me they havent announced. Imagine something as big as the earth. Is going to cause tidal waves or earthquakes volcanoes erupt and its going to chill. So very for a while right. My great grandfathers quote. Nobody would care about the law or prison so youd have lawlessness should have. A terrible life between now and the. Time after time called parisian to repeat the same mantra sustainability its very important to accelerate transitions to sustainable transport sustainability remand a more equitable and sustainable well. They claim their production is completely harmless. And. Companies want us to feel good about buying their products while the damage is being done far away and this is something ill just keep going to. Be doing to me when im stung. Understood. As the bricks summit in brazil wraps up the russian president stresses the organizations importance for global stability and developing future markets. At least 2 people were killed in a High School Shooting in california 3 others are injured a suspect has been arrested. Supporters of bolivias ousted president clashed with police to monitor the new government leave out and bring the old ones back
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