tv Boom Bust RT February 21, 2020 8:30pm-9:00pm EST
the mounting cost of the viral outbreak that has closed factories stores and slowed exports while china hinted that the outbreak constituted as a force majeure and therefore will have to delay fulfilling its commitments under phase $1.00 reuters now reports quote the u.s. government still expects china to honor its commitments to which it had agreed late last year many analysts didn't see this happening even before the outbreak started and now it looks increasingly unlikely and it looks like president doesn't even believe that he can strong arm china into these commitments as he has preemptively promised farmers a 3rd bailout package and as global markets sink friday on fears of corona outbreak spreading let's take a look at the positive side of this with more than 76000 confirmed cases worldwide only 2247 deaths have been reported as of friday the overall death rate from c.d.c. study is about 2.3 percent which is much higher than the death rate of the flu which is around point one percent in the u.s. but it is much less deadly than sawers which had
a mortality rate of 9.6 percent china reports that 7862 patients have made full recovery since the outbreak began and this number will continue to improve as researchers develop new combination therapies to treat the virus kristie it's very important to know here that this is something you don't hear all the time you hear about how many cases we have how many deaths we have and i guess you just to assume that the people who didn't die have recovered but you see those numbers and those are reported daily in china great jazz they are reported daily and as right now you see the number of full recoveries being quite low but these are all the ways the people who are reported moderate to severe symptoms who are actively in the hospital who are actively in trials there are over 80 current trials now pending between. all these drug therapies now are used in combination to try to develop a vaccine to contain the contagion in the spread however all the people who are all have moderate to very low symptoms the doctors actually. recommend them to
quarantine themselves at home and your human body can actually combat the virus itself and many people have actually made full recoveries that way and also i want to move back a little bit to the trade the punitive tariffs that were kind of rolling back here amid concerns what do we need to know about that and how is that going to help the economy of china well these villages have were already agreed upon the both china and the u.s. more simultaneously roll back you know the hair over the course of this year under phase one china is however doing this a lot sooner than expected in part is because they are trying to reduce the cost to importers and make export of goods a lot cheaper in the domestic economy and this is really important as the government is trying to continuously stimulate production in the economy right now and we're also seeing in this is you know they're they're rolling these back to kind of help the economy to help these businesses work in china now i don't know i mean obviously i'm not saying this is going to happen but say you know at the end of the flu season it's like sars it kind of just eradicate itself on its own and the crow virus is no longer an issue so maybe let's say by mid may almost when
we're done with quarantines and everything how much is going to take for the chinese economy to actually recover after this is going to take a significant effort because that will mean about one and a half quarters a product of the almost lost and as we said in the study the yesterday that that will basically equip the equipment to the american tire american workforce taking a 2 month vacation that's the amount of productivity loss across all of china and that's tremendous and what that represented by the year end global g.d.p. will not be the same it will not be nowhere near estimates and the cause for concern is because we have expected this continues pace of production and if we don't get that pace that china does not continuously become the developing economy we expect them to be to be the global growth driver then we can expect to see a little slump a little downturn and perhaps even the 1st hint of a recession and we'll definitely keep an eye on this and cover this in depth here too bus for sure. and the coronavirus is taking a toll on the auto industry in china as sales. by 92 percent in the 1st half of
february now according to the china passenger car association many car dealerships in the nation have been closed while much of the population stays home as christi just mentioned to prevent the spread of the virus now china is the world's biggest car market selling more than $21000000.00 vehicles in $21000.00 illo dealerships have restarted opening their doors this month and the trade organization hopes for increased sales throughout the rest of february as car sales have struggled so too has the production of vehicles in china due to the virus. and for more on that we're going to bring in lauren fix the car coach and she's going to break this down and other news auto related headlines today thank you so much for joining us lauren now china has already witnessed a decline in vehicle sales due to a slight economic slowdown in the country as well as the trade war with the u.s. so how concerned should we be about this 92 percent slump in what is essentially 2 weeks of february well that's huge because they're actually down 54 percent in
sales so far for the whole year so that impact is going to affect the economy of not just auto manufacturers but the economy of china and they're already down in sales it was predicted to be 2 percent but having this happen the timing was not good and it's going to definitely impact automotive suppliers as well as automotive manufacturers now chinese automaker geely has launched a service to allow customers to buy vehicles online in a time to boost sales and have them delivered to their homes so as buyers continue to refuse to go to showrooms due to the caught a virus we've also seen. and mercedes heavily promoting vehicles online as well during this health crisis so do you see online sales boosting the chinese market and frankly do you see it is becoming more and more of the norm of the auto industry. well i think this might be the cause of the trigger that makes automotive on line buying more popular i mean obviously those people that are home who are quarantined are not going to be able to go on test drive cars they're not going to be able to purchase cars and they're not making money in order to buy those cars so
that's part of the problem but having a mind buying is really smart i know mercedes benz and b.m.w. and tussles been doing it for a long time but now they've gillies doing that with volvo all this is a great way to get people to do something why they're sitting at home what are they doing there on line and this would give them a chance to think about when i get back to work i can purchase this car they'll bring the car to me i can drive it and it takes you away from that dealer experience but we're starting to see that here in the u.s. as well not to get too much out of this who's going to get back to the dividers impact on the auto industry but would you say that we're seeing a little bit more of this in the u.s. i mean you know i think it took people a long time to understand that when you purchase anything you don't have to see it you don't have to feel it we're going to move that way and vehicles as well well in the big thing i always recommend people you must test drive a vehicle before you buy it i mean you're going to live with it more than it's going to be a month it's not like a pair of shoes where if you don't like it you can return them this is going to be some year to keep for 3 years or longer and in china their culture is to keep it for the long term so i always tell people you should test drive
a vehicle i know that for room and car gurus and there's a whole bunch of other ones that are out there are bringing cars to consumers and consumers are getting this experience and taking it away from the dealer however if you need a repair you have to start creating a relationship with your local dealer i always recommend to go in the dealer at least meet the people at some point during the process all right sorry for that aside there let's go let's let's go back ok we got to know. our germany's dialers also shared concerns over the coronavirus impact that could not only hurt sales but also production in the overall supply chain now how concerned are these automakers overall about this affecting their business i mean we're seeing it from basically all automated factories right now because china is so important in the supply chain . well there's not much of an impact on honda and toyota but most manufacturers are seeing some sort of impact whether it be a screen or an interface or wiring harness or something that's made in china no one's not getting impacted by this in any way shape or form sometimes you can find
a back up supplier i know that in for b.m.w. they're putting 2000000000 dollars into a battery factory because they don't want to be reliant on china and you start to see the whole way so this could impact china down the road especially looking at the overall economy when people are saying we're going to look at other suppliers whether come from india or thailand or where that might be so i think you're going to start seeing more of that looking for that back up supplier in case the sever happens again you have to protect your brand because you can't build a car with 99 percent of the parts now japan's ministry of economy trade and industry announced thursday that it has a new task force to address the virus's impact on the auto industry so how bad are japanese automakers be hit by all of this and what can we expect from the task force. well the name of the group is the new coronavirus counter-measures automobile council which is a tongue twister but what they're trying to do is make sure that all the manufacturers that are producing products in japan are at least aware of coming other suppliers that might be able to fulfill that need i know that right now
toyota and honda are not being impacted but it may not impact them today it may start impacting these people down the road because if they have been working for a long time and you've got a 6 or 8 week lead time you won't see that 6 or 8 weeks down the road once they get back to work so they have to come start looking for other suppliers with that be from mexico or other countries. and i had one more for you today i gave you a bevy of stories but this one is the red meat going fix story we'll go back to china for just a moment bloomberg is reported to beijing is looking to possibly extend subsidiary subsidies for purchases of evey's beyond 2025 to china had its 1st annual decline in new energy vehicles last year what do you see going on here. well right now they're saying 54 percent decline in sales which is quite dramatic and that was certainly not the goal when they wanted to go all electric and part of their being green they thought this was a wise idea but people are not buying it without the incentive which is equivalent to about $8700.00 and it was supposed to go for 4 years well the big decline says to them we're going to have to go and go back to that incentive now with the virus
in place and people not working time gets back to work and start it starts making money they may or may not consider an electric vehicle i know that tussle and does rely on that help but we may not see exactly what their goal is i know that china tends to be very aggressive when they make decisions but they're not realizing they're have the power for the grid they're building nuclear power plants as quickly as they can so sometimes they put the cart before the horse the always and so below and fix the car coach thank you. thank you. coronavirus continues to spread fears across the global markets let's see how we ended up starting off in moscow the moet says as russia has proposed new terms for future oil supplies to belarus to partially compensate minsk for the cost of taxes introduced last year now over in shanghai the composite jumped to a one month high on p.b.s.
the stimulus after the central bank unveiled yet another move to support the economy and mitigate the fallout from the corona outbreak the market has now entirely recover from the corona sell off rally to the highest level since january 22nd a day before the will hand lock down now over and hong kong the hang seng fell 1.8 percent this week as a real estate and casino operators drag the market lower hong kong who is more light on tourism than china warned that the economic impact of the current outbreak could be more severe than 2 in 2003 when the city was hit hard by sars retail sales recorded their grade for the week as the current outbreak seems to be spreading faster within other asian countries outside of china this now turns the japanese yen formerly viewed as a safe haven currency from an asset now into a liability the yen has slumped about 2 percent against the dollar even as gold and treasuries pushed higher now over in india the sensex was closed on friday in observance of. but ended down for the week that the trade drama now shifts to india
and the us who are working on a major trade deal but there is uncertainty on whether or not certain deal points will be hammered out before the u.s. presidential election begins now down in australia the a.s.x. is barely but it launched its own tech index that is efficiently the australian version of the nasdaq has been the fastest growing sector in the a.s.x. over the last 5 years and this new index will initially consist of a basket of 46 stocks unemployment will still however remain a problem as a jobless. continues to climb analysts are now looking for the r.b.a. to slash interest rates again later this year and finally in south africa shares are down as the eskom crisis continues stage 2 no shouting will continue into the weekend as the cast has warned of an increased likelihood of power cuts over the next 18 months now over the brow of the rest of america. so you so much kristie starting in europe markets are down across the board and we're going to start with the cac in paris that we started looking positive before dropping off at the end of
the coronaviruses impact was still the main catalyst here one of the biggest losers was auto manufacturer know who lost 3 percent on friday alone which can be attributed to a supply chain issues due to the virus as well as a french probe into base use of funds now the dax in germany is also following a similar trend here looked like it was going to be even all week and then took a bit of a dive on friday losing nearly one percent the biggest losers in germany were an adidas who are hurting because of travel and supply chain issues respectively due to the virus the footsie in london it is in the same boat here so so just know that it almost rebounded to even on friday but luxury brand burberry group had a terrible week probably more than 2 and a half percent on friday alone and that was due to their reliance on sales in china and they've seen that throughout the markets now moving stu south america in brazil the ebo best but also down on the weak falling by a percent and a half on friday miner barely missed quarterly profits and fell nearly 4 percent at
the end of the week hurting that market as well now heading north the b.m.v. in mexico is also down on the week some analysts said the country's economy would not be hit hard by the coronavirus but the strength of the u.s. dollar due to the virus pushed down the peso to its lowest level since december moving up to the u.s. the s. and p. the new york stock exchange and all down on the week after hitting record highs in recent weeks the nasdaq dow and s. and p. fell by at. least 1.3 percent on the week the nasdaq alone was pushed down by fang stocks that's facebook amazon netflix and google they had a rough week over there now and moving up to canada the toronto stock exchange is up but just slightly the small gains were mostly in the oil and minerals sector as oil prices actually pushed up for the week that's it for this week's global market walk. i hear because well we repair and we break down the new
liz claiborne. playing. very well might continue watching on since last. this whole business about blaming russia and america is getting really the setting because here's a guy who's effectively trying to dehumidify his group of people slavic people in the states this is remarkably ironic coming from a boy like. welcome back biohacking has become increasingly popular and is constantly evolving since
the start in silicon valley over a decade ago it can relate to a various number of upgrades made to the body and brain whether it's through fasting intermittently which has become a fad lately or like those i was in or a former nasa employee who injects himself with d.n.a. using technology crisper or just people who have chips implanted into their hands well these are all forms of biohacking there's a range of bio hackers around the world from actual scientists with ph d.'s others who've gone to medical school and some of those who are simply amateurs even tattoo artists although it's been quickly growing globally it appears russia is catching on to the global movement with a growing number of russians interested in upgrading their bodies using the technology and we want to have a conversation about this so for more on this we're going to just respond to sara much as they ok and boom bust co-host investigative journalist ben swan thank you everybody for being here now of course sara i want to start with you today because you are the one who actually has been doing the research on this story so what is
going on in russia and how is it picking up there well russia has been the most recent country to to pick up with the looking at looks like over $1000.00 russians have been chipped as of late now it goes back to chips are being used around the world right so it's fair to start cars to turn on smartphones computers and printers moderating body temperatures and store medical information or business cards like we're seeing and sweden where you have the chip internet and. to your hand and you're able to scan cash out with kind of moving toward a cashless society and even some professional magicians who are now using them to enhance some of their tricks but russia is now catching on kind of with trying to really concentrate on how to stop the process of aging they're looking at how to interfere with the genetic aging process with these chips by monitoring a lot doing its heavy exercises and a lot of them even taking a lot of vitamins and putting things into their body where they're trying to prevent it now so far there is no actual effect to this and they don't have
a system for it but that's exactly kind of what they're looking for where they want longevity now this is a great piece of technology but when i was discussing this with my friends in silicon valley in the baltic region everything i was actually concerned about the security and privacy aspect of it and so i was like are just scared about this is a huge invasion of privacy don't you think their response to me was what can they collect that isn't collected already in your phone that you carry everywhere your location where your life's dislikes preferences your shopping habits everything is already collected basically on your mobile phone so ben what can you tell us about this from a privacy and security aspect. well i think it what it really comes down to is who controls the actual chip right so this is part of the debate that's going on right now in terms of biohacking and that's a very broad umbrella of discussion here but in terms of of people using it the way sarah was describing right now you know you have a chip in your hand you use it to swipe access to your apartment you use it for your gym membership you might use it as payment method you can put your not there
if that's ultimately what the idea is then you know the way that they're using it in sweden kristie you and i had actually talked to the guy out there who's created a lot of this the reason the way they're using it there is that the user is actually the root of this and has complete control over what information is there and how it's shared the problem is that when we talk about governments and surveillance governments don't want you to be the root of anything they want to have control and access employers want to have control and access and they want to use biohacking as a way of tracking and monitoring so it comes down to kind of a fundamental debate about who is going to be the one in control of those chips when they're implanted in somebody's hand or in somebody's body and that's what i think the debate is right now when governments are always going to once again control and big tech is going to want to do that and that's the other important point here you know when we talk about governments as you guys know russia china
there's always a talk about kind of these overlords in government that want to control privacy and security in the united states it's less the government and it's more big tech on behalf of the government and in cooperation with the government so that's where i think that kind of the fight is right now it is in the article of the rip the russian who actually did he is a subway metro tech to begin with and then he hacked it to actually it require his bank information to you can access it bank account as you previously mentioned and it sounded great and and he was able to do that until the bank actually shut the access down so it looks like as he said the government actually want to happy when he tried to take control farm self respect. and these chips really range from i think a number of things from in terms of money and costs like you have some the cost thousands of dollars like these new ones in russia that are in the they're monitoring these people's bodies for about 2000 a month i think if you want a more more like maybe a weekly it's about 5 grand or something to that top extent but then there are other top makers who are amateurs who are buying these chips from taiwan for 5
bucks 5 dollars so i think it comes from a range of things and some people who then have the expertise versus those who do have no idea what they're doing everything and right and as ben was actually talking about we had joe on oestriol and from bio hacks out of i believe denmark is where he was from and he kind of talked about this exact situation and he kind of made the same point but his were were more or less hackable in that situation because what they actually were was mostly like the way you would use a ballistic keycard nothing could be changed on it it just had a number and then that number correlated to something else so when you swiped it say to get in the door there wasn't a thing you could change like your personal banking or information like that now i wanted to get onto another point and we can bring ben back into this as well is that you know we talk about lifelong jeopardy as part of the bio hacks discussion number one i think that package sometimes a little bit mr appropriately used because what we're really talking about is dieting but then what do you think of that that type of access where they're trying to extend their life with with all sorts of things that are actually outside of the
technological realm. well that's the other problem so there's a big umbrella here so very quickly that's the other part of this discussion is this transhumanist discussion where you ultimately want to use chips technology to ultimately extend somebody is like to give them greater abilities in terms of eyesight in terms of brain power in terms of their ability to run and jump all those things could be essentially affected by the way that we act as humans as we go through this process of being hacked over time but that is the present in some ways and it's also the future i think of that whole idea of how to train your body like a computer almost like engineering it to these things like software is that's pretty interesting absolutely and there's a lot to discuss here correspondence or much as the ok investigative but general as co-host of boom bust and so on thank you so much for your time thank you. and finally christie imagine it for yourself if you come home from work after a long day maybe
a long week like this week simply looking to relax maybe you light a candle what sent puts you at ease the most is it lavender citrus maybe vanilla but what if i offered you sense like sesame seed bun 100 percent ground beef onions ketchup cheese and pickles that's right the world's largest fast food chain mcdonald's is making a 6 pack of candles that smell like your favorite quarter pounder ingredients the candles were created to celebrate the sandwiches 50th year anniversary and will be available on mcdonald's fan club website very soon now oddly scented candles are nothing new a company called the stinky candle company sells things like chlorine clean puppy and even straight up garlic and the yankee candle company which sells many candles has things like whiskers on kittens and a man town scented candle which smells like a man cave independent creators christie they're even doing things like pizza and beer get him on etsy maybe what both of those and you can smell like
a bar of some sort. and of course we all remember gratis paltrow founder and creator of who valued at over a $1000000000.00 company didn't you create a candle recently that smelled like her baby parts. as she did and that's that's that's an oddly scented candle that's for sure i was making your entire poem smell like a fast food drive that's for sure that that by this time you think i'd boom bust on the man on the brand new portable t.v. app available google play and the apple app store by searching part well t.v. or stream us to your t.v. by downloading the portable t.v. app on apple t.v. and online at www dot tv portable t.v. will be available on more devices very soon or as always you can check us out at youtube dot com slash boom bust r.t. see you next time. kind of good intentions which i think. you see 40 years ago.
simply. didn't see any pleasure. i 1st heard about wiki leaks. from the helicopter footage in iraq. i think the downer people who remain in the u.s. military who have never forgiven him for it this guy's a traitor a treasonous and he broke every law the united states illegally shoot some of the us really historic to have. independent journalist guy with his computer to see what crimes and to a global audience. the idea of developing an anonymous digital truck bombs and applying it to a media organization is what he likes that was the 1st. i didn't the toy
interest i had 13 would be for a short while world right and wrong one of the world's most powerful news organization standard founder julian assange. and there was a great deal of jealous in the mainstream towards him particularly why won't he be more like off seem. mean feces on the walls. smile. we have julia. in solitary confinement in the prison for terrorists a way to perhaps a life in person the person. i don't see in prison. and i think that's what he's facing.
what holds his hands to you so easily that. he put themselves on the line to get accepted or rejected. so when you want to be president and. somehow want. to go right to the press this is what before 3 of them all can't be good that. i'm interested always in the waters about how. they said. i can't show you my face but i'm going to teach you must store in 9093 if this man was sentenced to death. they could charge kenny with capital murder even though he didn't have the gun didn't pull the trigger didn't intend to kill anybody imagine living in your bathroom for that week with just under 23 hours. to be. confined within 4 gray walls the fuck it's using. them to leave
death row. germany's the f.d.a. party denies claims that it isn't fueling racism in the wake of wednesday's terror attack in the. fighting intensifies in syria is that it leaves a province with government forces and their russian backers propelling an offensive by turkish aligned rebels and. residents of a ukrainian city clash with police as the authorities attempt to place evacuees from china.