Company announced last week that it would spend production of the aircraft moving forward on the news the leadership of the leadership shuffle boeing stock rose by 3 percent today and it has been a tough year though overall for the aircraft giant losing nearly 20 percent of their stock price since the grounding now joining us now to discuss what this all means we are joined by jamie finch former National Transportation safety board official now jamie its great to have you here today but why now and what is this going to do to this whole 737. 00 max saga why do we get rid of today well it had happened and we predicted. Several times already the need for him to go which is going to be inevitable this was not just important but he was essential for boeing to get past this this very dark period in his history in his 103 year history this is the biggest crisis theyve been released and so. By removing him from position it begins that entire process and so forth but its going to be a wrong long haul for them and now it seems like its been a year since the crash of lie and air flight 610. 00 in october of 2018 and it seems like regulators and boeing just cant clean this up so is there something that can be done or are they on the right track right now to kind of fix this issue maybe even get that 737 max back in the skies very interesting i think the f. A. A. Had already started addressing their own internal problems that theyd have as far as the regulator side as we reported before and we talked about the f. A. A. Had done its own analysis a year ago in november 28th seen and realized that this plane was supposed to crash possibly 15 times within its lifecycle of the entire aircraft and so they they had done their own analysis but they did not. Pull the plane off of the ground and so f. A. A. Has taken taken issues and make him move to address his issues boeing on the other hand was more circling the wagons they werent really working with or they seemed a little bit insincere in their apologies they seemed insincere in their earnest and earnest efforts in working with the f. A. A. To resolve this problem or theyve been slow in dragging their feet theyve been analysing these these found tom you know it was about to go back up in the air we sort of announcement which were finally put to a halt just a few a couple weeks ago when the f. A. A. Administrator met with the c. E. O. Now former c. E. O. Of boeing and told him to cut it out and stop it now because this i mean weve seen this and this is like i said has been more than a year long saga of boeing 737 max issues but you know i mean sure theyve taken a hit on their stock price but theyre still the biggest player in the game when it comes to aerospace obviously theyre competing with airbus but when you talk about the fact that they were i mean not. Say they didnt take it seriously because im sure they took it seriously but they felt that they could just beat it by talking over it is that was that the rug i mean thats over all the wrong way and do we expect a change in their in their approach you know i think that will we saw the immediate term about were right after that meeting with the f. A. A. Administrator you know just a few days after that was when boeing announced that they were Holding Production on the 737 max series and so they put that in halt now they hold and theyve theyve said that theyre going to move those 12000 employees that were working on the 737. 00 max within the company and have them working on the job so they wont be doing layoffs or firings but theres only so long that boeing can carry that and it seems like theyre just probably holding off quickly to just try until they can start making the 737 max you know in the fleet and thats what theyre hoping to do because it will take them much longer to ramp up if they get rid of these everybody late everybody off is going to take a much longer to bring people back in its over because people are going go out there to find out the jobs and Everything Else and theyre going to go on with their lives and so it would it would be an even slower delay in the in boeing getting this back into production if they did for all of these people absolutely jamie finch former n. T. S. B. Official thank you so much for joining us today on this this very newsy day for boeing thank you thank you. And china will cut import tariffs on a host of goods beginning the 1st of january as the nation attempts to hammer out a phase one trade deal with the United States now its important to note that china will be lowering tariffs for all trading partners on 859. 00 types of products ranging from frozen pork to high tech components according to a statement from Chinas Finance Ministry on monday the new rates will be below what most favored trading partners have today china will also lower the import levies on more than 8000 products for countries and territories that have free trade agreements with them according clued in the likes of australia iceland and south korea now meanwhile on saturday u. S. President donald trump was positive about the state of trade talks with china while speaking at a turning points usa event he had this to say. We also turkey toughest ever actually against china and as the result was we just achieved a breakthrough on the trade deal and well be signing it very shortly theyre already buying digit millions of dollars of products agricultural product theres a lot to go over here and we have the pleasure to be joined by richard professor Richard Wolfe professor of economics and host of economic update is coming to us from new york richard thank you so much for joining us today and i want to get right to it now we know youre no mind reader here but what do you make of President Trumps comet that we have reached a breakthrough and they will be citing a deal very shortly now we know he likes to say things but is this just more bluster from the u. S. President in hopes of pumping up markets or do we do you actually think theres a deal in the offing here. I think its a little bit of both i think what has happened is that mr trump has discovered 2 important things after 2 years of china bashing number one you can impose tariffs the chinese will come right back with their own and in the end it will cost you politically particularly with farmers who lost markets in china that they rely on hes learned mr trump that is that its going to cost him politically to keep playing this game number one number 2 hes discovered that if he thought that any of this could shake or change the way the chinese economy and society work hes been taught a lesson that he doesnt have the power if he ever did or nor does the United States to do that anymore so the real question is are you going to continue having a confrontational relationship costing you politically and not achieving its goals or are you going to do as the chinese have said over and over again come to some sort of Partnership Work things out as competing countries can do if they. Both want to i think you are seeing the shift from the confrontational theatrical bluster to the much more realistic recognition of what isnt is not possible. And i wanted to shift gears to china on this note because theyre working to lower import tariffs for all trading partners whats the point of what theyre doing here is a kind of to your point which is that they will come to the table and make a deal no say hey you know we want to make a deal with the u. S. But were going to make really broad sweeping changes for everybody so we can be the strongest trade partner in the world. Its exactly your last point that the chinese are confident theyve been growing quickly they have a bigger footprint in the World Economy than they ever had and that anyone imagine they have they want to trade with the rest of the world they need the goods from the rest of the world to come in for their own People Consumer goods capital goods yeah they didnt want any of this this was all the initiative this tit for tat tariff from the United States and particularly from mr trump and the republicans theyre happy to see a goal and theyre demonstrating to the rest of the world we are not protectionist we are in favor of free trade i mean they have come out of this confrontation with mr trump extraordinarily more powerful and more respected in the world would be an honest appraisal of the United States as policy in the last 2 or 3 years would say other than getting the applause from your Political Base nothing good came out of that the of this lots of harm was done you ought to change when you have that kind of a balance well i dont want to i dont disagree too much because i respect you greatly but when nothing good came out of this in the u. S. I will say this markets have had incredible gains this year and the s. And p. 500 has jumped nearly 30 percent this year alone now these are the biggest gains weve seen since 1980 and we cant forget that we are also very concerned about the possibility of a global recession whats propping up these markets right now if its not all this Straight Talk from trump. Well i think the bait the basic thing is the tax cut if you want to give mr trump some credit give him credit with the republicans for this dramatic tax cut on corporations and the richest folks amongst us in december of 2017 it meant that last year 2018 and this year you have given to the richest folks in this country on enormous boost which they used to go into the stock market to produce the very record that youre talking about they did not take their tax savings and increase production what they did do is move it into the stock market which for people who have stocks is of course very good news the real question is what will the longer term results be when your basic economy is bumbling along not a well but the stock market is achieving records weve not seen that this way before and the big question is where will that take us i mean it seems like people i mean to your point and this is quickly you could agree or disagree but it seems like like you say is that everybody is just trying to squeeze as much out of the market as they can right now and then when it starts to fall theyll get out right away and then schmucks with a for a one k. Theyre the ones who are going to lose. Absolutely weve seen this before this is like the bubble leading up to the dot com break in 2000 again the real estate and low interest bubble leading up to the collapse in 2008 we have more debt than weve ever seen before and this is a scary time and before you count your chickens lets see where the next 12 months takes us because the side of danger is very much in play professor Richard Wolfe thank you so much for joining us host of the economic update always appreciate it. Thank you. Russian foreign minister Sergei Lavrov said sunday that a pipeline said to transport natural gas between russia and germany will continue as planned despite sanctions from the United States said the north stream to pipeline quote will come true anyway despite all these threats and quote adding i am confident that europeans understand their commercial interests 2nd their interests in terms of ensuring Long Term Energy security 3rd of course they have been humiliated now President Trump signed a defense bill on friday that included the sanctions against Companies Involved in constructing the 11000000000. 00 project and meanwhile in germany has been critical of the sanctions as they attempt to move away from their reliance on coal and Nuclear PowerGerman Foreign minister heiko mosse weighed in on the situation on friday saying this. We are in discussion with american colleagues at all levels and i am under no illusion that it will still be produced by the war. And it will also be a question of how they are now being implemented the time sequences will also play a new visa and we will continue because its. Time now for a quick break but hang here because when we return is popping after the recent news that the u. S. Government will back the company and its quite a fight Party Correspondent joins the show from toronto to help us take a look at the big picture of the as we go to break here the numbers at the close. Media a reflection of reality. In the world transformed. What will make you feel safe. Isolation and a little community. Are you going the wrong way or are you being that. Is a clear in the world corrupted you need to descend. To join us in the depths. Of the shallow. Is this is a sticker from a water bottle found in the stomach of a fish the brand is part of the Cocacola Company which sells millions of bottles of soda every day the idea was that lets tell consumers there are the bad ones there the litter bugs are throwing this away industry should be blamed for all this waste the company has long promised to reuse the plastic. Special projects funding me. On the new best. But for now the mountains of waste only grow higher. I. I i. I. I. Bear i had a good day on the stock market shares shot up. Today this after the Us Government recommended a reversal to a Court Verdict against the companys weed killer joining us now to discuss the war we are joined by our tease alex mo heil a bitch from toronto alex thank you so much for joining us now bear has shown its best performance on the market in 14 months corteen what can you tell us about that. That we see 3. 5 percent pop up in their stock with wall street as well as a rise on the Frankfurt Exchange and were sitting around 74 year olds which is the book 82. 00 just over 6 to be exact and so you can see that in stocks going up by you might ask yourself why well its because the e. P. A. And the Justice Department both the u. S. Government agencies want a a Justice Department so from a little Lower Department 81. 00 of the verdict overturned so basically what happened and im sure that you remember this case a california man was awarded 25000000000. 00 because he sued bear or monsanto at the time monsanto is the company that bear bought and they are the company that sells roundup which is made of glyphosate thats the chemical thats a herbicide that many are blaming on cancer he says he got cancer from it so he was awarded 25000000. 00 well now the government saying they recommend that this is over turned round up but what were talking about this is use the United States especially its the biggest herbicide in the u. S. And its also life is a is found all around the world. According to a university of washington study using right up org life is that i should say itself can increase the rates of cancer by 41 percent the World Health Organization has identified life in state as a probable cause city as well now come to the other side here when were talking about the e. P. A. And Justice Party will they say now its not necessarily like that the u. S. Government said a friend of the court brief that glyphosate is not a personage and thats the stance that the e. P. A. And the Justice Department is taking now buyer who bought monsanto the maker of roundup itself of course they deny these accusations that the product has any association with cancer the product which was introduced in 1974 has made billions for the company and as for months we know that theyve had a very cozy relationship with the u. S. So it looks like that relationship might be paying off at this point and alex what does this mean for bear and its use of the active ingredient. Well life will see itself it look there this is not the only case out there so we dont know whats going to happen here with this recommendation but theres literally billions of dollars in lawsuits against bear and monsanto underling a bear in the u. S. Alone so as you can imagine this could still blow up in their faces and that said you know even with this u. S. Do recommendation traders seem to be focused on the profit but look life of sadism everything for beer to wine to eggs to breast milk theyve even found it children so its everywhere you know it just comes down to what the u. S. Governments going to say now its science right what signs are they going to pick and which direction theyre going to move if theyre going to fed bear well we might see a lot of this at this recommendation might turn into a reality correspondent alex mohalla bitch thank you so much for your actual reporting today. Thank you. And i kind of originated the last time we had a financial crisis so its actually really interesting that now were kind of in this middle ground where we could potentially be on the brink of another recession and now we see the rise of capital as a hedge against thats precisely and i think thats an important aspect of this because you can really test i think of your world view by its ability to predict the future right so you have an idea and then if years later that idea is actually manifested in reality you are world view is probably correct so a lot of people have been talking about this exact scenario since 2010201120 extension 12 here we are and its an even more interesting because the Toshi Nakamoto essentially predicted this outcome he said those leavers of macroeconomic control that Central Banks in. Weakening gone almost i continue to believe that the japanese pseudonym used was to have the kind of authority to say to america and everywhere else that what japan has been living with with negative yielding Interest Rates and all that stuff and large debts was actually going to be the experience for everyone in the world so the last decade of japan in the ninetys has become the common experience of all these other large trading nations so you mentioned that your previous background before you got into have to youre actually in the legal space and you