this is the poseidon adventure mixed with the titanic in one colossal sinking of the global economy right now we've got donald trump starring with the ghost of paul newman on the bridge of the titanic watching as they engineer a colossal failure of the global economy. this is a boom bust broadcasting around the globe uncovering the world of business and finance and the impact upon us all i'm daniel brito in washington. and i'm christy

i in los angeles hands on like i watch on deck today there are rumblings in the euro zone that the torch has a major quake on the horizon for the european economy kelly for the british american business association is on hand to analyze the situation in the e.u. from baghdad to tallinn instability plus lurking in the shadows of us trying to trade war another trade spat has killed over across the sea of japan south korea and japan have ramped up their scoot so now include military ties argy producer brant your board jones has joined the show to sift through the shaky trade relationship but for them cyber crime does not just apply to individuals as several cities across the you want are now being held digitally hostage investigative journalist ben swan logs on today to dig through the digital dilemma how do we make this show so great it's a trade secret let's go. on the record evidence indicating more stimulus measures for europe are on the way and leads are global report today as market watchers. over the minutes from the last policy meeting at the european central

bank minutes from the july 25th meeting of the e.c.b. policymakers suggested the e.c.b. policymakers are considering applying a number of stimulus measures simultaneously expecting that the application of the measures as a package will create stimulus synergy and believe in the bold action is what the comic moment demands u.c.b. president mario draghi has given very broad and clear indications that such measures are on the way including interest rate cuts in a defined to return to the policy of quantitative easing with bond purchases among the familiar actions are now widely expected but the e.c.b. may also be feeling pressure to develop new interventions as the minutes record a discussion of multi-tiered deposit rates as momentum seems to build announcements are increasingly likely to be made as early as next month. here to check in with us on the euro zone bragg's and everything in between is hell a for which board member of the british american business association so hilary 1st of

all on the e.c.b. meeting there really consistent with mario draghi recent statements but how much is new here in terms of the multiple intervention strategies where they hope for a mutually reinforcing fact and then this idea of a cure deposit rate well actually some of it's new and some of it isn't so new that what they're talking about in terms of this is a multi-year approach is that it's the asset purchases and also reducing interest rates and that is going to be actually happening globally if you look at what's happened also in thailand new zealand india same thing and you look at the bank rate copy if i the fed in july what's happening by the european bank i think the only thing that's really surprising is that when there are sort of when there's a lot of turmoil and things a drastic it is a lot of instability it could be more expected it's rather frustrating in europe and it's frustrating european businessmen that i speak to because or underlying factors are relatively stable and that is what is troubling it's usually blamed on uncertainty. and the slowdown in china. hillary speaking of bragg's time is running

out now for boris johnson's no deal threat to compel the e.u. to reopen the brig's a deal on the table he wants for the continent this week is his 1st trip as prime minister to persuade leaders including a merkel of germany and france to support new talks the prime minister repeated what has become his must have demand of removing the backstop from northern ireland the press conference with chancellor merkel of germany she said we can do it in german. and that specific phrase resonates from her use of it during the refugee crisis in 2015 but mr now seems to have shut the door that mrs merkel cracked open what's your take on the current status of mr johnson's campaign to reopen the discussion well i would say this i would say that we talked about before that micron is in a very weakened position his approval rating is only 24 percent and the reason i call him uncle of course is being more flexible suddenly with regard to the irish backstop is that she has german businesses breathing down her neck because one in 7

german cars is sold into the u.k. and so many of their white goods are also just over a month ago there was a report that now over 14 percent of goods that were formerly purchased from germany now purchase from the u.s. u.s. what i would say is now he's going into this meeting in beer it's this weekend i think this is what we can expect he's not going to waver he can't he's basing his entire premiership on the fact that he is going to get the u.k. out of the e.u. is going to be divided no no deal and he's done that for leverage he has to stick to that point the other thing that he's recently stated is that he sees an ankle a local just agree one of the other parts of her statement where she agree with him that within 30 days a solution should be found to that back stop with northern ireland and he's talked about things like the familiar traders program and he's talked about the leverage of technology so they're looking at 30 days to try to solve that baxter. and i

think his campaign last fall nothing drastic has happened nothing bad has happened so he's really on track and so just to be clear hillary. is really against as you don't see that as just settling the question i don't think that he can because he's so weak in france and i think that the only thing that would really stop it is if if suddenly all of a sudden the french businesses and europeans sort of united forces and came up with something that would match the trade deal that's going to come out from the trade the trucks sorry the trunk of ministration in the next few weeks the trunk of ministration is working fall some hard headlong head strong to come out with a great trade deal and when that trade deal comes out the e.u. will be scrambling to match it and they know that. sort of views from hillary ford which of the british american business association thanks so much for joining us welcome pleasure. as the september 1st deadline for the tariff increase draws closer china is sending washington another warning that the planned tariff hikes

will trigger retaliation and lead to an escalation of economic and trade friction trying to appeal to washington on thursday and extended yet another opportunity to try to meet each other halfway and settle the trade war as there will be no winners just a lot of casualties the retaliatory trade barriers are clearly harming economic growth in both countries as well as markets one huge point of contention is that the u.s. wants china to roll back plans for government led developments of global competitors in robotics and other technologies this has worried american officials as the huge advances in china has made lately will start to erode the u.s. industrial and tech dominance beijing refused saying that it would violate its market opening commitments it is now clear that the trade deficit is merely the surface and that the real issue is about tech and who will dominate tech and shape the future of technology startups today are now caught in the middle of this tech cold war as investors pull back chinese venture capital investment in the us poor.

ltd amid more stringent regulations in washington and u.s. investors are also staying away from projects with chinese ties as innovation slows down from lack of investment it further contributes to the stagnating growth of the u.s. creating a vicious feedback loop. and the rift between south korea and japan is becoming more contentious by the day in the latest escalation of tensions between the 2 nations seoul announced thursday that it would end military intelligence sharing pacts with japan. so i'm going to our government and judge that the japanese government has called serious changes on a bilateral security cooperation environment by removing our country and so many ways landed on august 2nd citing that there have been some problems caused by the damage trust between the 2 countries which are now your evidence for such a claim. our producer america producer brant bora joins us now to break down the latest in this dispute between 2 of the united states as biggest asian allies brant

what is going on what's the latest with this crucial intelligence battle between japan and south korea 2 regional allies of the united states now the pact called thank you for having by the way the pact called the general security of military information agreement was initially pushed by the obama administration and signed in 2016 as a way for the 2 nations to exchange important intel about threats posed by countries in the region specifically referencing north korea china and russia now the timing of this decision to back out of the agreement is not in significate if nothing had been done by saturday the agreement would have been renewed for a whole nother year so south korea really pushed to get out of it right at this time to make this point against japan now the united states has made clear at this time that they want the agreement to stay intact if at all possible whatever they can do to make that happen and now as we just heard from the south korean deputy director of national security the latest decision by seoul stems from japan imposing trade restrictions on south korea now japan that recently installed new

regulations that would cause delays in the import of 3 minerals that are key in the manufacturing of cell phone screens and semiconductors to south korea and this could affect the supply chain for the entire world when it comes to semiconductors now tokyo followed up by removing them from another list of trusted trade partners that affects the import of another 1200 parts and minerals air and materials and south korea responded by making similar moves restricting trade to japan and this whole fight is really. stemming from a historical conflict between the 2 nations due to the actions of the japanese towards the koreans during world war 2. and now the test side any closer to making an agreement that will end the test i mean closer that's relative but as i mentioned the united states has been vocal in trying to calm the spat between south korea and japan but china has also been a big player trying to ease tensions foreign ministers from the 3 countries are currently in china holding 3 days of trilateral to trilateral talks discussing

trade and cooperation during the talks china's foreign minister weighing ye called on the 2 nations to come to terms through dialogue adding quote china will work with south korea and japan to continue to expand and deepen cooperation jointly to maintain multilateralism and free trade and to quote now it should be also noted that. it should be also noted that the countries have to have had talks of this nature this is the 9th time they've had talks of these natures and it's really not specifically to do with this trade spat between the 2 countries so we'll really have to see what takes place between seoul and tokyo moving forward. this adventure bar thank you so much of a mack. time now for a quick break but stay tuned because on the other side the threat of cyber crime does not apply just individuals as several cities across the u.s. are now being held digitally hostage mesquite journalist ben swan longs on today to

dig into the digital dilemma and as we go to break here are the market numbers at the close. cast calendar is dark alfonzo along. this changing page he's dard servant. whose 1st words were at a lower seer a challenging post you got 2 years to live. i

have no doubt that what happened was criminal. defense calls in trade market is a $1000000000.00 industry these companies have a huge financial motivation to solve these problems there are numerous stockings showing that doctors were keen to chest x. ray concentrates for infectivity on their patients gives them doctors the wrong to quite long term system why they would keep me consecutive doses. on people is to die and i'm always question michel being allowed to live where so many have. so what we've got to do is identify the threats that we have it's crazy confront

dacian let it be an arms race off and spearing dramatic developments only personally i'm going to resist i don't see how that strategy will be successful very critical time time to sit down and talk. dark shadows are being cast over at least one major prison cities and perhaps the future of human life on earth as more than 73000 fires ravaged the amazon rain forest the skies over sao paulo went dark on monday as the as a deep wide plume of smoke bottled blotted out the sun the fires are so extensive that a massive cloud of smoke is clearly visible from space and satellite images of the dark cloud went viral on social media worldwide with many using the hash tag pray for amazonia cattle ranching is the economic impetus for an estimated 70 percent of

rain forest destruction. president jeroboam so narrow was elected after pledges to accelerate deforestation by official policy mr paulson arrow has also suggested without evidence that pro environment organizations are fault and may be behind the fires on thursday he doubled down calling defenders of the amazon and indigenous rights the biggest suspect in the fires the fate of amazon could be decisive for humanity's chances of surviving the current climate crisis the amazon rain forest is needed to offset rising levels of heat trapping carbon dioxide while the fires instead release staggering amounts of c o 2 experts say that the loss of 20 percent of what remains could kick off a dire process that would result in a total extermination of the amazon ecosystem. and moving from v.m.s. on to amazon the retailer is punctuating its push into india with the opening of their largest office campus yet the site in hyderabad opened on wednesday with

a capacity to situate 15000 workers out of amazon's total indian workforce and is on owns the facility entirely a 1st for sites outside the u.s. and the main building contains 1800000 square feet of office space while the campus covers 9 and a half acres and was on his expanding their. presence as well into their physical presence in india with the on fresh and online grocery delivery service the service will roll out starting in bangalore the capital of trying to. a state before deploying in other cities bloomberg estimates and amazon has spent $5000000000.00 over the 1st years of the 1st 5 years of their effort to capture market share among india's $600000000.00 internet users. and more than 40 u.s. cities have this year been hit by a rash of winsome ransomware attacks the scope of the attacks ranges from large minutes apologies i baltimore maryland to wilmer texas a town of just 5000 people right now 22 cities across texas are being held hostage

for millions of dollars as hackers and full traded the computer systems of governments and encrypted their data in the state of journalism swan has been following the story and joins us now to break it all down ben what exactly is going on with these rants more attacks what systems are being affected and how is this affecting the way these mission bally's can operate in their basic government functions yeah it's pretty interesting because over the last couple of years the real targets have been major metropolitan cities baltimore here in atlanta where i am was hit last year with a humongous ransomware attack that shut down the city's computers and the demand for about $50000.00 in bitcoin was made in baltimore earlier this year the city locked down because of ransomware attacks but what they shifted just a little bit is there was an interesting attack on 22 cities across the state of texas just last week and it apparently it's all come from one user one hacker who essentially locked out all these small towns so talons of 501-002-0000 people had

their computer systems all locked down and collectively among all of them a ransomware demand of about $2500000.00 was made so what we have seen is a major shift from necessarily hitting these large entities to hitting very small into t's what's very interesting here is that when you look at the amount being asked for you know in baltimore about $6070000.00 and that question was demanded but it's costing the city millions of dollars to get their system. back in the place that led to cost $17.00 to $18000000.00 to under the ransomware attack when $50000.00 was what was demanded so at some point you have to look at it and say is it really worth it to not pay these ransoms other than just encouraging more of this fascinating and why have we seen this rash of random or attacks happening now this here and what have the hackers demanded outside of money of their made any other demands. no it's primarily money that's being asked for in the form of crypto

currency in the movement mostly and because what's really interesting about this is if you look at where these attacks have come from where they've really come from is from n.s.a. design hacking tools that were released to hackers online in 2017 someone broke in and released these these tools it was through a program that the n.s.a. created called eternal blue and eternal blue essentially was taken and has been morphed into multiple viruses including the largest ransomware virus on the entire internet in history something called one the cry of the one a cry virus has affected more computers than any other ransomware attack what's interesting is as recently as the baltimore attack a number of private contractors who were studying that ransomware attack said this is an eternal blue attack what's really interesting is that dutch ruppersberger the congressman whose district includes the n.s.a. headquarters in maryland released a statement saying the n.s.a. virus was not a part of this attack he released it from his congressional office the n.s.a.

put out a statement saying no was an ours has nothing to do with us and yet there's no information as to how they knew this when private contractors who were looking at it said yes this was an internal blue attack what's fascinating about this is what we have seen is an increase in ransomware attacks because of hacking tools that they in the say created and then were released to hackers in mid 2017 that's why we've seen such an uptick between 200-270-2090. fascinate a dangerous tool and let them fall into the wrong hands so now i want to propose never go wrong with that in cities and exactly so i have been for the response from the cities like as you mentioned a lot of them are upgrading the assistant bar and then paying simply because it's cheaper. some have paid because it's cheaper there are some cities in florida that were hacked and went under these ransomware attacks who went ahead and paid the money and i. i think it was about $600000.00 that they paid out but in response to

having to pay nil use of dollars to fix their systems cities like baltimore have refused as i said the city of atlanta refused to pay and $18000000.00 now i'm not advocating that cities turn around and spin the money to unfreeze their systems but what is interesting about this is that if you look at the cost benefit analysis of it the cost of not paying this cost taxpayers millions at the same time i think there should be a response from cities demanding that the n.s.a. focus on creating a fix for the problem they created in the 1st place not all hacking of all ransomware goes back to the n.s.a. that we know of but we do know this that the worst most egregious forms of ransomware attacks in this country have come because of those hacking tools and yet the n.s.a. has not stepped up to help fix the problem that in many cases they created. generating problem sounds like it's only going to get worse with journalist ben swan thanks so much for joining us. as things. the 210

year old curve inverted thursday morning once again on fears that the fed won't save the economy markets are jittery and we sold off hard this morning as this is a highly watched indicator this came after 2 hawkish comments from fed officials that they don't see the case for additional rate cuts after the 1st quarter point reduction in july these comments came ahead of policy on friday as investors look for confirmation over expectations for future rate cuts so whilst trump is really forcing these guys to move and be aggressive about it the market is not expecting anything too dovish as that would be a slap in the face of an independent fed there is concern now that the inversion of the 10 year falling below the 3 month yield has persisted for are ready to months that phenomenon could indicate that market participants anticipated weaker economic conditions in the future and that the fed is already behind the curve and will need to lower rates substantially as a response another question looming on our minds is can central banking as we know

it be the primary tool of macro economic stabilization in the industrial world over the next decade they have little room for interest rate cuts now and then we get stuck in a black hole of 0 rate with no real prospect of xscape europe and japan's experiment with negative rates has proven to be fruitless and disastrous with now 15 trillion dollars globally in negative yielding debt the u.s. is only one recession away from joining them and now joining us today is our c peg chief investment officer of your list well clark so what do you think there is doubt now that the fed does not have the necessary tools to prevent a sharp downturn that the fed and central planners are impotent economic basically taught us that monetary authorities over the long term could create as much inflation as they want their monetary policy but. nearly that hasn't worked so can the central bank be the primary tool for macro economic stabilization. i

don't think it can i mean i think the main tool really is opportunities in countries very clean water clean air having the technology having the stability the fed got the u.s. to 10122nd month of expansion i mean this is this is pretty it's pretty amazing right this country is 244 years old and we're in the longest economic expansion ever and we're looking to the fed saying give us more give us more give us more i know they've given us everything they can of course they can lower their rates more but i think we also kind of have to step back and go hey we're in the 122nd month of economic expansion this is what it looks like and this is our 1st time here so we really don't have another time that we can look back to and go well the last time we were at this level or this length of economic expansion we did this so this is new ground for everyone. in our see right now the fed's funds future outlook is

clearly indicating that they expect the fed to cut rates by 25 basis points every meeting from here through the end of the year this is a very specific outlook as before they were hoping and pricing in maybe a 50 basis point cut are we going to get that confirmation from mr powell comments tomorrow. i do not think we're going to get that i think there's 2 things that are driving his his decisions one is what the actual stock market does so the last time he did an about face was when the stock market was down almost 20 percent so he clearly is looking at the stock market and right now the stock market's off 345 percent from lifetime highs so from that one indicator there's absolutely no way he's going to say to us he's going to lower rates going forward. the other thing i think he's looking at the german central bank i don't think we're really in control of the more we're looking at other central banks around the world and i think paul

wants to stay about 2 percent above what the germans are doing so if the germans lower rates then we're going to lower rates but i don't think he's going to lower rates until germany or another major major economic bloc on the planet lowers their rates. so now the s. and p. rallied up to the close after that nasty drop this morning so that you do get the sense of optimism in the market as the market is kind of hoping for relief from politan morrow but the last time as you mentioned he just confused and spooked the market at the same time saying it's a missed cycle cut and then backtracking saying no we might have room for more cuts in the future so i don't think that he's going to give the market the consistency that it wants to here so i would expect a little bit of volatility so how would you position yourself going into this. i think the best way to position and you may not like the answer but i don't think we should ever be positioned for any 124 hour cycle i think we need to really take

a step back and look at what's trending higher look the stock market has been trending higher for 10 years it continues to do that it continues to outperform europe and the rest of the world the bond market prices specifically of bonds they're going higher that trends well in place and also to look at what gold's doing it woke up about a year ago it's beating bonds it's beating stocks i think to really positions our position ourselves not just for powell but for what's going on is to look at these big trends and go ok what are they doing and then we want to position our money relative to what the trends are doing listen to the expert our chief investment officer and phil fearless wealth and corporate thanks so much for joining us. thanks so much but that's it for this hour. that's it for this time you can catch boom bust on direct. channel 321 dish network. or streaming 247 on clarity the free t.v. ad. war as always had us of a you tube dot com. c next on. live

. give me my best bit. he said. there's a whole lot of most of the most companies he knows are going to give us his you know. when they meet. his compass he will get all of those little screaming nobody gets funded and you know just to see you just pull you little bit of strength. to move them and i'm going to

see the notion of you see live in a little you i don't know you kind of the most beautiful. thing to. come to your lives to. show to you. know men because he. seemed wrong rowles just don't call. me lol but you get to shape out these days to come out to him and indeed from an equal betrayal. when so many find themselves worlds apart when she's to look for common ground.

i don't think. a lot of person has ordered a symmetrical response to the latest u.s. missile test that says russia warns the u.n. security council of a new arms race if action is not taken. one step away from an arms race that cannot be controlled regulated in any way the united states will not remain a party to a treaty that is deliberately violated by russia conservative activists in the us celebrate after court agrees to reconsider a case accusing global tech giants like google and facebook of anti conservative bias. in the ship's captain who faces jail for saving law grants from the editor.