Skip to main content

tv   Boom Bust  RT  January 22, 2019 9:30am-10:01am EST

9:30 am
you know i really can use somebody from a completely different background in a completely different profession actually different identity i think really just shows how deep the problem really goes it's just gone five thirty pm here in moscow we're back again with more headlines more stories at the top of the. survival guide ecstacy just to start simply putting all the research. be sure it's going to get a. good repatriations look at the rest in seven years. deliver seven kaiser report. seems wrong. just don't call. me if you get
9:31 am
to shape out these days active. and engaged equals betrayal. when so many find themselves worlds apart we choose to look for common ground. but. how do you hide this is boom bust broadcasting around the world and covering the world of business and finance and the impact on all of us i'm part children in washington we're sure glad you're on board well coming up today there is just released review and news new new news rather about the global economy and china growth our economies and markets doing danielle shay and steve malzberg are
9:32 am
standing by to tell us plus it might warm your heart and sound fantastic to hear about an alliance to end waste in plastic but you'll be less enthusiastic when alex behala bitch tells us more about the group and later we'll bring you a walk around and talk with exhibitors at the north american big coin conference we don't have time to get it to you on our last broadcast but we have it today from a crypto artist to a hollywood t.v. producer it was an eclectic and electric group of people all that directly had but first we had some headlines let's go. darkening prospects for the world economy lead our global report today as the international monetary fund once again downgrades its forecast for a world in twenty nineteen i.m.f. researchers now say they expect the global economy to grow at a rate of three point five percent this year that's is the second downward determination by the i.m.f. last summer they expected twenty one thousand to grow four tenths of
9:33 am
a percent higher at three point nine percent a familiar litany of slowdown reports especially in europe are likely causes for the adjustment though the i.m.f. forecasts for growth in the u.s. and china are notably unchanged since the last i.m.f. review which occurred in october i.m.f. managing director christine lagarde characterize the latest economic indicators earlier today. the bottom line is that off to two years of solid expansion the world economy is growing more slowly than expected and risks are rising. does that mean that a global recession is around the corner no. but the risk of a shell put decline in global growth. has certainly increased. to this. the uncertainty the geopolitical where is and disappointing long term growth prospect and you have an economic pitch with
9:34 am
a pretty clear message. and another disconcerting data point has been added to that litany of disappointing growth numbers as china post its worst growth bigger in almost thirty years china's economy grew by six point six percent overall and twenty eight thousand according to the chinese bureau of statistics that announced figure which most other nations of the world would envy is for china the lowest growth rate since one thousand nine hundred ninety you may recall that the chinese economy had been growing in the range of seven to eight percent from two thousand and twelve to two thousand and fourteen the new statistics suggest that china which by some measures as already surpassed the u.s. as the world's largest economy may not be able to lift the world's economy as demand legs elsewhere this year. and here take a closer look at economies and markets our friends danielle shay of simpler trading and conservative commentator steve malzberg welcome guys thanks for being with us again steve let's start with you in the u.s.
9:35 am
you know it's been two years and one day since donald trump took over what was already a growing economy and it really continued going to greater heights but now many are questioning if it will or can continue steve what's your take. well one day you and i will sit down have a great debate over how effective the obama recovery was but that's beside the point yeah i look i mean g.d.p. in the second quarter of two thousand and eighteen was four point two percent and in the third quarter as you well know went down to three point four percent where's it going to be come come the fourth quarter report you know with the with the government shutdown and everything else however having said that that's still a good number and so are the unemployment numbers as you know record low unemployment the lowest since one nine hundred sixty one when you talk about sixty nine when you talk about three point seven percent every ethnic group of blacks hispanics asian americans lowest in history where reaches well five million jobs
9:36 am
you also have us now producing more oil than ever before we're the largest producer of crude oil in the world thanks to donald trump and getting rid of. regulations that weren't conducive to that speaking of regulations and he also got rid of. his had a t p p got a set of nafta renegotiated nafta he got a set of some of dodd frank signed legislation making it easier community banks so things are firing a pretty good of course china and the government shutdown and the mala report are all the pediment the road ahead we'll see where it leads and that's a good synopsis of biased i think in some parts there but you got some of that. but i get to steve and look i agree i mean a lot of those things were absolutely good and the president may have helped what he certainly didn't do any harm the one might be on the trade stuff and maybe we'll
9:37 am
talk about that a little bit more but the books still on written on that right danielle last time you were here i think you said that you could see another rally coming my question to you is one what would be the circumstances which would sort of set the table for such a rally and two are we talking about a short lived rally or something that might exist for several months. so what i'm looking for is is honestly it's going to come back to this earnings season so last week the banks started reporting earnings it was very strong very positive overall which sent stocks skyrocketing higher this week and next week especially are going to be critical in the market because when we have our key companies coming out and reporting earnings if those earnings reports are going to remain strong i do think that that can send the market skyrocketing higher because of the amount of fear and because of the amount of volatility that we saw throughout november and december
9:38 am
but that doesn't necessarily mean that it's going to be a a longer term rally i mean what i think we're looking at is an incredibly volatile market and especially if you look at the price action that happened in november and december this was a very emotional based algo based trading and i think that we have to understand that the market environment is completely different now than it was really back in two thousand and eight and while we can see incredible spikes based on earnings season we can also see sell offs that come very rapidly due to this algo based trading and let me ask you did you know because you know i've said that i think it's the q one earnings that will really be telltale and we've seen you know the airlines are down we talked about a couple of some of the retailers steve we spoke about that q one will be after you know the trade war is really sort of more full fledged and boy if this shutdown steve referred to earlier continues you know people are saying it could be zero
9:39 am
growth so it really could be a big downer if things go south right now it seems teetering right you know. yes i think it's absolutely teetering and you know i think that a lot of the effects that we're going to see from the terror for us from china's economic slowdown. and especially from the government shutdown i think that people aren't really realizing how impactful this is to the overall economy and so for example last week people were looking at the stock market saying hey the stock markets rallying but the government's on a shutdown it must not be a big deal well it is in fact a big deal it just may not hit for a while you have people not getting paid people cannot pay for their mortgages and you have a situation in this economy right now where we have the highest level of consumer debt that we have seen we have student loans we have housing loans we have car loans and you know that bubble is going to burst eventually it might not be right
9:40 am
now but potentially later on this year or next year it can absolutely happen you know it will top it doesn't hey steve i want to shift before we run out of time to that i.m.f. report i talked about global economies reducing the global joe growth projections from three point nine percent to three point five what do you make of that and there's also that news about china have in their their worst g.d.p. all their worst israel pretty good since ninety ninety what do you make of all that well three point five isn't terrible they their projections for the two thousand and twenty is three point six but as you pointed out it's the second time the revised down recently the last one was in october and they've indicated that it's for much of the same reasons that they you know a continuation of the circumstances that they had the revised down before china is one of them and we'll get to that a second also german car manufacturers guy having trouble because of new fuel standards italy not buying as many you have turkey with an economy that's worse than it was projected originally and china their g.d.p.
9:41 am
is projected to be down to six point two this year so you the downward trend is going to continue people are losing their jobs and. china unemployment is creeping up in every sector from tech to manufacturing you name it and of course you also have the fact that chinese goods are in as big a demand around the world because of the global downturn so china is a mess right now which makes it imperative i think even more so than ever before and i think a president she realizes hey we need to deal with the u.s. and hopefully that will happen and solve the problems a lot of problems at once i want talk more about that but we're out of time and danielle i also want to bring you back whenever you're willing to be with us again you've been so gracious with your time to talk about global markets and how we think they're going to go forward twenty nineteen hopefully you can do that in the next few days of your schedule allows danielle and steve malzberg thank you both for your time sure appreciate it guys.
9:42 am
and last week we mentioned some of the inconveniences caused for mexican motorist as new president andres manuel lopez obrador on low tries to plug costly corruption related leaks in the nation's oil pipelines which government estimates they siphon three billion dollars per year from the mexican treasury on friday eighty five people died in a pipeline explosion roughly seventy miles north of mexico city after hundreds of poor people rushed to collect gasoline from a leaking pipeline running from ip mix state oil company facility to a seaport of tuck's been officials at p.m.x. and the mexican military were criticized for the slowness of the responses and for failing to clear people from the scene near the leak the c.e.o. of pm x. and mexican attorney general have both promised to investigate the causes of the leak and the responses by authorities. and india may be on the verge of landing as
9:43 am
sturrock twenty billion dollar investment from weapons of manufacture lockheed martin an unnamed lockheed executive told reuters that the company is close to shifting production of the f. sixteen fighter jet and thousands of jobs from the united states to india as part of a broader deal that would also grant lucky to a fifteen billion dollar contract to sell more than one hundred fighter jets to india on that side of the deal lockheed is competing with aeronautics firms including francis de salt sweden saab boeing air bus n.b.a. systems to get a contract to arm the indian air force if lockheed and the government of prime minister narendra modi are able to iron out the details of the quid pro quo the deal would be a remarkable coup for mr modi who has been boasting about a made in india campaign and other indian economic news the modi government is also reportedly preparing a package of policies to support small businesses including easy credit and free
9:44 am
insurance coverage ahead of the may general election. and it's time now for a quick break but hang here because when we return alex mahela bitch tells us about the ugly underbelly of the alliance to end plastic waste plus we didn't have time to get to it on our last broadcast but we have it today a walk around the north american bit toy car parts exhibitors from crypto artists besa to a hollywood movie maker it was in a clock tick an electric group of people and you'll enjoy seeing it and markets are closed today due to the federal holiday in the states it's martin luther king jr day the fearless civil rights leader who famously said god never intended for one group of people to live in a perfect list in order to wealth while others live in abject deadening poverty will be back in a flash. countries
9:45 am
gone into a nihilistic fever that's why i think and think. and get out the traveling across america to find what makes america take the charlatans the genius the place the south american era this is it we've come to a point much on what is done so we always are on the margins something. else or saying sorry. we're starting last winter is going to headed east into the swamp we're going into the belly of the beast and i think i want to leave now doesn't get any more than that it may be completely different but in this. twenty forty you know bloody revolution to correct the demonstrations going from being relatively peaceful political protests to be increasingly violent revolution is always spontaneous or is it you still were here to put it put him in your list put video
9:46 am
and put him in the news that i knew spilling into the former ukrainian president recalls the events of two. fourteen. do seem to. get invested over time doing in dollars to assist ukraine in these and i think it will ensure a secure and prosperous and democratic. welcome back last week we told you about some of the not so good earnings by some u.s. air carriers well ireland's ryanair has issued their second profit warning in four months blaming a larger than expected seven percent decline in fares over the northern hemisphere as winter season the irish airline has been bracing for a two percent fare decline ryanair now says that for the twelve months ending march thirty first their average per passenger profit will be seven euro's that's down
9:47 am
from ten euros just two years ago and overall profits for the year are now projected between one billion and one point one billion dollars downgraded by about one hundred million dollars. oxfam international has delivered the latest dire assessment of wealth inequality since two thousand and sixteen oxfam has reported the total wealth owned by the world's billionaires in comparison with the wealth held by the bottom half of the world's population oxfam's twenty one thousand report finds that the wealth held by three point eight billion people on the bottom half of the world's wealth curve is now equalled by the net worth of get this just twenty six billionaires the year before it took up fortunes of forty three billion years to equal the total wealth of half the world oxfam says that since their previous report the world's wealthiest increased their holdings by twelve percent interestingly three point eight billion of the poorest people in the world saw
9:48 am
their wealth decrease by almost the same amount eleven percent. a group of over. thirty companies have formed an alliance to stop plastic waste in fact they've pledged a billion dollars to do so that catch the same companies plan to expand plastic production in the next few years to break it all down for us as alex mahela bichon toronto alex thank you for covering this this sounded like such really great news you know we know about all the plastic in the oceans etc this alliance is being formed to end plastic waste is that correct. well a billion bucks sounds like a lot of money to clean up and it sounded fantastic but let's start with a look at who these companies are here's a list and then it's a big clue to what actually might be going down here so the alliance occludes alliance which is called the alliance to end plastic wait state including chevron phillips chemical company dow chemical exxon mobil for most aplastic corp procter
9:49 am
and gamble reliance industries and shell among other oil chemical as well as waste management companies now they pledged a billion dollars and what they're saying is hey more companies come join the alliance we want to boost that pledge up to one point five billion u.s. dollars to save the world from all those plastic that's absolutely everywhere there is seems one of their focuses if you go on their website is cleaning up the oceans which we know is a huge story and i'm sure you've all seen pictures of what's happening in rivers and oceans except absolutely awful so this pledge i mean it seems like a wonderful thing and to have put a billion dollars in isn't that great these companies are fantastic aren't they their part. absolutely i've seen you know we're just throwing some of the roll there of plastic on the beaches and i denisov places it is really bad and kill and fish and just horrible for the environment stuff does not does not go away so
9:50 am
speaking of bad what's the kicker here what's the really bad news alex yeah you might have seen that i had a little bit little else of sarcasm in my voice here at the end yeah these companies they are investing maybe a billion billion point five in cleaning up but they're investing way way way way way way more in making more plastic exactly so here's a big issue we're looking at the recycling network and european and geo they're saying these do gooders are going to create more plastic than ever they're talking about the next ten years being a plastic boom so there's going to be more plastic than ever on the face of this planet that for example we have shell shell is building a multi-billion dollar plant in the us in pennsylvania and they're using frac gas as fuel to produce one point six million tons of poly ethylene a year now that's the world's most common plastic polyethylene now exxon mobil is of pent expanding its plant in texas to increase plastic production by two point
9:51 am
five million tons a year it will be the largest plastic production plant in the world and that we can even go to the other side of the world to saudi arabia where we have so dram co and the country's chemical giants s.a.b. i see these two companies are also investing in petro chemical factories why because oil is not as desirable as it used to be so why not move their industries into something more lucrative like this boom that we're seeing in plastic now look at this graph this says it all we can see that the numbers quickly diminish about when we're talking about helping and instead plastic is being made recycling efforts are not keeping up with production we can see that over the next few decades this alone. science that we're talking about they insist well you know what this is the only way that we can do this and when it comes to plastics that there is no alternative here in packaging except it's hygenic it helps us it does i don't know a b. c. d. e. f. g. but the fact of the matter is if you look out there there are so many alternatives
9:52 am
right now we can look at something as simple as a hemp which is a fiber which is one of the strongest natural fibers around we could pretty much make bags out of that in any way shape or form and people are making plastics out of things that biodegrade such as hemp and other bio mass so when you look at the these guys are saying it just seems like a massive p.r. facade yeah let's put a billion billion and a half out there but afterwards we're just going to make a heck of a lot more plastic look this way we're helping but that way who are making things worse yeah it reminds me alex of you'll remember but maybe not all the boom busters that old film the graduate with dustin hoffman is it invested in plastics and that people did but you look at consumers have a role in this too don't buy this stuff as you're saying really really something for us to think about alex mahela budget toronto thank you alex thank you.
9:53 am
and we didn't have time to get it to you on the last broadcast but we have it today i took around the north american walk around the north american decline conference exhibitors in miami last week from the crypto artists vesa to a hollywood t.v. producer it was an eclectic electric group of people you're going to join this. guys walking around the exhibition hall here is so cool lots of things we've seen accredited locked chain universities there's lots more let me show you one. really cool things here here's some artwork and we haven't actually heard omar behind we have the part is a pier that's the best thing that is near the coast tell us about what you do not just this one you will be difficult to film growth coming but i'm are pretty certain goodness i suppose the long the short of it is i used to be a filmmaker i had a production company and just a natural storyteller as
9:54 am
a kid i started with my parents bought sometimes and turn them into a trumpet and whatever by that long the short of it is i realized about a decade ago that there was an opportunistic opportunity for me to pretty much come up with my own art form and it started with body painting and started with painting and mixed media and being able to do these effects very effective powerful art pieces and also at that time i came to realize how the monetary system works and i was part of making a documentary film for that some whatever and i'm just being digitizing my work for a very long time already so finally a couple of years ago when i realized the power of loss and how important it was how many problems it's going to solve and one of revolution and what it is for the whole of our species really it was only a natural evolution for me to jump on board so fully and i'm bursting to hold a platform called art for crypto dot com the space has been very good to me i keep it they support me and i keep supporting it well you. showed me a couple pictures including that iconic body painting you did of that bollywood
9:55 am
model that was great in a sort of kaleidoscope that's great if i want to check it out that's up but also on your crypto things you cut several of them and maybe were able to show people that but talk about silk road just briefly or option this off today yes it's actually. for two hundred the bear market situation it's possible to say basically the average is about fifty k. it's the bear market but i'll make it for the body like that so basically we all should say it was ten dollars just to just to get it sort of very true to their mission and i determined to push our discipline to put the money and spend on it have to say something that is. good charity. hard to keep doing if a tragic story goes i think i should want all three to last that's the way it is tremendous it's going to history i said trouble to. excite.
9:56 am
him all the people i did not expect to run into those who are now artists best thank you so much great to meet you pleasure likewise thanks for having me thank you. both look here's something interesting kryptos the t.v. show and i met earlier the producer here george shammy a george good to see you to see you so tell us about this what are you doing and he says sure to pitch to an industry that's about. ten episodes one hour so. we want to and. i'm giving you know on top of. the subject of six kids trying to. break through and make it all on this thing great and you're trying to raise money here's why you're here trying to find partnerships so yes fantastic good looks super exciting. i think i can i hope and i wish you well but we can't wait to see it thank you george so writers. like.
9:57 am
what we have here is sold in tech solutions for blog chain assets and we're pleased to be joined by caleb slade is a co-founder caleb good to see you many of us i'm straight so tell us about what's going on here so salt launched what was the core products mainly for control this are for products and there's been plenty of cash incentives so they can borrow against your house when you are this is that you want. to sell that to brings up cash for people who may have it in bit later i mean do you care to another trip this week to clients period like point and we just had to see season options up pay and you know that you take ownership take a lead of this yet as you get out some back and do some multi signature architecture well that's the borrower does have one of the second chances we do
9:58 am
need to that's able to execute a tax cut in the case of margin talks and value and much very interesting it's needed in this space caleb slate thank you so much it's a pleasure as. and that was sure fun in miami we hope you enjoyed it by the way the current price a bit going today is three thousand five hundred forty four dollars that's down from a month ago it thirty eight hundred thirty nine dollars and that's all for this time thanks for being with us you can catch boom bust as always on direct t.v. channel three twenty one dish network gentle to eighty or streaming twenty four seven on pluto t.v. the free t.v. at channel one thirty two or as always you can catch us at youtube dot com slash boom bust r.t. so long for now see you next time.
9:59 am
there's not any left especially in the earth's mantle i predict as i've said before that was the central banks find it difficult to buy any gold whatsoever they're going to start buying bitcoin and bitcoin to their strategic reserves russia has been rumored as a possibly the first to go down this passage we don't know the details but one of the major central banks will start putting it along with gold into their strategic reserves and this will set off a mad scramble for gold and but. you know world of big. law and conspiracy. to dig deeper to get the stories that mainstream media refuses to tell more than ever we need to be smart we need to stop slamming the door. and shouting past each other it's time for critical thinking it's time to fight for the middle for the truth the
10:00 am
time is now we're watching closely watching the hawks. the heads of european powerhouses germany and france sign a treaty to deepen the ties put critics they want to deal with affect their citizens sovereignty adding it's a smokescreen for problems at home. sanctions against france accusing it of treating african countries like colonies and fueling the migrant crisis. to come this hour nasi clashes intensifying venezuela as washington throws its backing behind the non-elected opposition leader against the country's president. in.


info Stream Only

Uploaded by TV Archive on