[431] Brazil downgraded to junk as Citi tips global recession
Well it’s certainly not good news for a country already in a recession. Brazil – Latin America’s largest economy – has now lost its investment-grade credit rating. Ameera David weighs in. Then, Erin Ade sits down with Cate Long – partner at Puerto Rico Clearinghouse – to talk about the current situation in Puerto Rico, which has deteriorated.
After the break, Bianca Facchinei takes a look at the federal investigation into United Airlines and the golden parachute of that airline’s CEO. Afterwards, Ameera and Erin talk about how the IRS rejected Yahoo’s attempt at a tax-free spinoff of Alibaba, Alibaba’s revenue woes and the difficulties of Yahoo CEO Marissa Mayer. And in The Big Deal, Ameera and Edward Harrison discuss Citigroup Chief Economist Willem Buiter’s prediction of a global recession within two years. Take a look!
The Bank of Japan introduced a negative interest rate on Friday and US GDP hit a soft patch for the fourth quarter. Ameera David weighs in. Then, Bianca Facchinei takes a look at the latest EU country to plan refugee deportations. Afterwards, RT correspondent Manuel Rapalo reports on Atlantic City’s economic woes from the resort city.
After the break, Ameera sits down with Frances Coppola – Forbes contributor and blogger at “Coppola Comment” – to talk about Venezuela. And in The Big Deal, Ameera and Edward Harrison talk about the US and Japanese economies.
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Standard and Poor’s reduced the grades of three top European oil companies and Macedonia has its border crossings with Greece; Ameera David weighs in. Then, Bianca Facchinei takes a look at how student affects high-income and low-income students. Afterwards, Ameera and Monica DeBolle – visiting fellow at the Peterson Institute for International Economics – talk about Brazil.
After the break, Ameera is joined by Danielle DiMartino Booth – president of Money Strong, LLC – to talk about the Fed and ECB. And in The Big Deal, Ameera and Edward Harrison discuss a new study that say banks are hiding losses when earnings are down.
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Tesla is coming under an SEC investigation; time to call in the Car Coach Lauren Fix and find out what’s in Elon Musks’ future! Is the market ready for new investors or is it too late? Danielle Shay has the answer! All that and more on Boom Bust! [1165]
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Boom Bust is taking you around the globe! Iran sanctions will be renewed, but what effect will this have on oil prices? Naeem Aslam brings us his expert analysis. European banks and interest rates may seem confusing, but Danielle DiMartino Booth helps us paint a clearer picture of it all. ‘Carbon-free’ metal is Apple’s next big picture; Manila Chan has the story while Ashlee Banks takes us into Big-Pharma. All this and more on Boom Bust! [1079]
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Gary DeWaal and Host Bart Chilton discuss the ins and outs of regulating cryptocurrency.
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Our lead story today is Hong Kong. Crowds in Hong Kong swelled over the weekend as protesters gathered to oppose China’s plans to control the city’s 2017 leadership elections as riot police fired tear gas and pepper spray at demonstrators who shut down parts of the city on Sunday. Erin weighs in.
Then, Erin is joined by Dr. Ann Pettifor, author and executive director of Advocacy International, to discuss the recently released Geneva report on the world’s total debt. Dr. Pettifor explains that debt levels are increasing, contrary to the widespread belief that some sort of deleveraging has taken place. She looks to private debt as the big problem.
After the break, Erin sits down with Warren Mosler, author and president of Valance Inc., to discuss the true impact of monetary policy on the real economy, particularly in the US, where the US has been aggressive in easing policy. Mosler sees an underlying weakness that belies this easing and believes the increase in inventories increasing GDP is a negative sign for growth in the coming quarters.
In The Big Deal, Erin is joined by Edward Harrison to talk Currency Wars. With Europe and Japan engaged in quantitative easing, the US Dollar is at a multi-year high, which may put a drag on growth. How will the US respond. We think the US will respond politically but options are limited. Take a look!
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Saudi Arabia is facing scrutiny over the disappearance of a Saudi Journalist; Raghee Horner and Michael Maloof discuss the impact this might have on the business relationship it has forged with the West. Steve Malzberg and Hilary Fordwich discuss the latest moves from Amazon as they raise their minimum wage. [1175]
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Pro-golfer Rory McIlroy has withdrawn from the upcoming Olympic games over Zika fears and the IMF has downgraded its projection on the US economy; Ameera David weighs in. Then, Bianca Facchinei takes a look at a lawsuit filed against Puerto Rico’s government. Afterwards, Ameera sits down with Lenore Hawkins to talk about Italy’s recent election and its impact on their economy.
After the break, Ameera is joined by Steve Hanke to talk about Venezuela and OPEC. And in The Big Deal, Ameera and RT’s Alex Mihailovich discuss Canada’s housing market.
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It’s Friday, but Boom Bust has one more show before the weekend. Uber is in trouble as it knowingly leased faulty cars to drivers. The numbers are in and more jobs were added in July. But what does it all mean? Bart Chilton is back today and we’re breaking down the numbers and what it means for the country. The U.S. has a trade deficit while Saudi Aramco looks to China and a new oil refinery. Bianca Facchinei takes a look at rising rents and the rising homeless population while special guest Marshall Auerback examines the potential bond bubble and if it could burst. That and more on today’s Boom Bust!
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