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tv   Boom Bust  RT  February 29, 2020 1:30am-2:01am EST

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have been infected and of those more than 2800 have died outside of china the largest number of deaths is in iran at 34 where that country has seen a huge jump in infections to ron had already cancelled friday prayers at the capitals of 23 of around 31 provinces u.s. secretary of state might bump says that the u.s. has offered to assist iran with medical response over in south korea they have the highest number of infections outside of china 2337 and while china seems to have gotten some control over the spread of the corona virus it is italy that appears to be a central point for spreading the disease as italy now reports 650 cases and 17 deaths switzerland has canceled its giant geneva car show mexico has confirmed its 1st case of corona virus 2 min in mexico city and want to see the lower those 2 had recently traveled to italy and reported the contract of the virus there mexico is now the 2nd latin american country to register the virus and the largest city on the african continent lagos' which has
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a population of over 20000000 people has also reported its 1st case from an italian patient w.h.o. continues to warn that this virus will likely soon be in every country throughout the world. the continued increase in the number of cases and the number of affected countries over the last few days clearly of concern. just have been monitoring these developments continuously and we have no increased assessment of the risk of spread and the risk of impact of corbett 19 to very high global level. well lisa china there is some good news in mainland china they are reporting 327 new cases that is the lowest since january 23rd and china's biggest 3 airlines they have restored some international flights with that let's go to kristie to start off this week's market walk. buyers are getting burned again as
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an avalanche a stock dumping continues and accelerates into the weekend global equities are now headed for the worst week since the depths of the 2008 financial crisis as investors ditch risky assets on fears of the coronavirus will become a pandemic and the real economic growth even gold can't even catch a break with the safety metal down 1.4 percent for the week now this is unusual as gold and risk assets trade inversely but with a sliding gold it is a market signal about fears of a global deflation settling in the entire treasury yield curve is inverted and now trading below the fed funds target rate the market is essentially now demanding almost 4 rate cuts this year and is expecting a coordinated central bank intervention as early as this sunday ahead of the asian market open so let's see how we ended up this week. starting off in moscow the mo s. was not spared the widespread panic over the coronavirus the most is down 4.7 percent year to date with heavy losses in oil and gas sectors oil prices have collapsed 17 percent and it's unlikely to see much relief in the short term after russia refused
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opec called for an emergency production cuts to counter the impacts now over to china china is down almost 5 percent for the week but it's losses for substantially less than global markets who suffered about 10 percent corrections across the board china's return to work continues with new cases remaining relatively low there and they're resuming public transportation in order to support factory resumption and to stabilize the economy equities were up 2 percent for the month of february as the close outperforming the s.p.x. by almost 9 percent the government is also promising additional cat tax cuts and other aides this week in order to help companies that shut down and support the market now over in hong kong the hank then slipped 4.3 percent for the week and shares dropped as south korea's central banks kept rates unchanged in a surprise move the hospitality and tourism industry suffered the most as 90 percent of rooms are vacant amid the outbreak home and property prices also extended declines and as many as $130.00 mortgage loans valued at 98 $1000000.00
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were in negative territory over in japan and there's an interesting phenomenon brewing there the japanese the end goal would have massively to coupled with the yen crashing at near record lows against gold gold prices are down and this by a collapse in stock and bond yields so that now begs the question of who is dumping all this gold now the nikkei plunge 9.6 percent for the week and in a state of emergency has been declared on the island of hokkaido. over in india the sensex nose dive along with global equities and fear that the clear run of virus will hamper global growth india reported g.d.p. growth of 4.7 percent year over year frank slightly better than expected but that failed to draw any bids at all and said says selling by foreign investors to national retailers now down in australia the a.s.x. has had a nasty week plunging 9.8 percent as its commodity dependent economy was wrecked on lower demand and decreased global growth forecasts the all of the dollar which is heavily reliant on global trade slipped to a fresh 10 year low and finally over in south africa the all shares are down
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falling global equities moody's cut its 2020 economic growth forecast for south africa 2.7 percent as industrial activity remained weak and recurrent power outages have weighed heavily on manufacturing and mining outputs now over the bow of the rest of us are because they thank you for that boy it is nothing but a sea of red over here as well as all the european markets are way down latin america and the us no surprise here as we mentioned more than 5 trillion dollars has been wiped off of the stock market so let's start in europe where the cac in france the in germany and the footsie in the u.k. all dropped into correction territory finishing the week down over 12 percent for all 3 indices this is the worst week since the 2008 financial crisis the concern here is that if the market fears kick in a 10 percent correction could become a 20 percent bear market very quickly shares of international airlines group was among the worst performing large cap stocks with british airways and iberia losing
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nearly 9 percent of shares of anglo german travel group they also fell about 9 percent let's move over to south america where that you will best but in brazil was also down this week markets actually reopened after the annual cost of all celebration plunging numbers stocks dropped more than 7 percent on wednesday recording their worst one day percentage fall since may of 2017 in mexico the b.m.v. is also down as mexico city. bank the 2020 growth 'd forecasts for the entire year will see what happens there and here in the united states the s. and p. 500 the new york stock exchange the nasdaq are all down now we've been talking about this all week this isn't just the worst decline since the 2008 financial crisis it is the fastest ever 10 percent drop or oil prices drop more than 2 percent with bring crude setting at its lowest level since december of 2018 the technology sector is down 12 percent this week even utilities and consumer staples shares which investors typically flock to during volatility because of their
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generous dividend payments those were hit as well by the selling all 11 sectors of the s. and p. $500.00 are in negative territory for the year investor saw the safety of government bonds in the yield on the benchmark 10 year treasury note to record lows and then finally moving up to canada the t.s.a. is also down for the week here's something interesting though they actually closed more than 40 minutes early though on thursday after halting trade earlier in the afternoon they said it was because of a technical issue coming up in the show christine are going to give you some analysis on what comes next but the big question now is what happens on monday does the buy even begin again because we expected friday we would continue to see these drops and that any recovery would not come on friday obviously it didn't the question for markets on monday have we fell on the floor and where do we go from here and that is this week's market walk.
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so facing this bloody backdrop if this real panic we're seeing are we have maximum 5 yet that is fear uncertainty doubt or is this doesn't short term panic kneejerk reaction to headline news leading to drastic swings in both directions the market is at a point where seems to be running on sentiment by the fundamentals and at the fed want lower rates and fell's the market is going to throw a temper tantrum to. force its hand so is this panic real is it justified let's hear what some of our guests this week had to say about that. i think traders are clearly overreacting there is no reason for the dolls to see this kind of love the only reason that i can see is this monster bull rally that we have seen in the market over the last decade i mean literally since the financial crisis the market hasn't seen a major correction the fed has yet to defy the demands of the market so they can talk as mean of a game as they want i don't see them backing off of market expectations
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disappointing a market as specially when you're starting to see this kind of volatility and anxiety so i think they're doing way too much over speculation but i think what you're talking about ben is how do you sort this out how much of this would have come in a way i think these corrections were overdue the excuse for doing it recently was the virus. you have their takes and with more let's bring in jeffrey talker editorial director of the american institute for economic research so jeffrey let's start there you heard what some of our earlier guests had to say about this panic and how it's completely overblown what is your take is there a risk here or is this all of us thought is it a cry for more attention and more fed intervention. i don't think markets are live and i think there's the fears are real and the fears are based on serious things and we've got a whole sectors of the global economy that are coming under serious pressure right now you know with the with the halts and travel and the fear of public spaces the
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hospitality and industries and mentioned hotel prices i mean new york right now i mean i've never seen hotel prices as low in new york as they are right now so i mean this is this having real effects i mean for the average people the effects of this virus are going to be much more impactful from an economic point than it is from from a health point of view so this is a real supply shock and a real. i'm shocked and the heck of it is that everybody washington is talking about how they're going to fix it through federal reserve intervention and new fiscal stimulus as it's all nonsense the velocity of money is going to come under extreme pressure right now and this is already happening right now and the dollars going to be rising on international markets and there's nothing the fed can really do they don't have anything in their toolkit that controls of loss of money so this is i would say it's serious whether or not it short term i think we've got a long ways to go actually to ask about markets on monday i don't anticipate any
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correction of market sentiment any anytime soon and there's something else is very interesting about this i mean usually we track macroeconomic happening in through through the data right but this there's a there's a huge lag in this that we're not going to see the effects that we're living through right now appear in the data for another 4 to 6 weeks so it's very possible that 1st quarter g.d.p. in the united states are going to take a real serious hit and we could even see some effect on the unemployment numbers so this is. this isn't a bad week in markets and i think most mostly it's related to the fear of pandemic virus and the government response we can talk about what i think government ought to be doing here in a 2nd if you want to sure you know we had this corrections about 10 to 12 percent correction but we've been long overdue for a correction jeffrey there's no question about that even so even if this is all
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fake and manipulated right the value lost is very real 5 trillion dollars wiped off the market in terms of world stocks this week value lost to real companies real investors real people who have their money in the markets so if central banks look at this in a side that they want to step in and intervene in the stem the bleeding not sure what they would do other than lower interest rates again would that even be enough to restore this shattered confidence and bring the market back up at this point. i don't think i do thing. i mean people tend to look at the federal reserve as some sort of magic machine that can make everything right in this case they've got very little room to maneuver in terms of interest rates some of they will have to adjust their targets just to to comply with existing reality but interest rate cuts at this point is going to be rather pointless especially if you have the money velocity falling and people getting really seriously risk averse and holding on looking for safe havens for their money there's not much of the fed can do i mean to say that they're not some sort of magic tool in their toolbox to make everything
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right again we just got to live through this ride through it and fiscal stimulus is going to work either you know with faced with the rising value of the dollar and the national markets i think are the best thing that could happen right now is for there to be an immediate and dramatic. and open and unilateral into the trade wars cutting the tariffs could actually open up as export markets. at least boy market optimism a little bit that's something the trump administration can do right now and it would it would make some difference that the only thing i can really think because the fed is not going to save the day in this case no matter what they do you talk about the yield curve inversions that's a real real thing i mean this typically would forecast a recession i don't think what we're living through right now is anything like a conventional recession it's a supply shock and it's a demand shock and i think it's far from over and right now the entire world is telling friends and asking questions later and this kind of prompted the markets to
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jump off a cliff the dow thought passes collapse from its peak since the 1028 great depression and as he just sent a new record for the fastest correction plunge ever the nasdaq however did turn green briefly this morning after kudlow spoke in the hope that the fed will activate a quarter needed central bank bailout on sunday so why is the likelihood of that. well there will be a lot of performing of actions by the fed a lot of symbolism attempts to lift optimism but but in the end is uncertainty and fear is driving the markets right now and i think that's going to be true for some time until we get more information about the virus and more information about its overall economic impact which is our event substantial i must say a lot of stuff to digest jeffrey tucker editorial director of the american institute for economic research thank you so much. time now for a quick break but hang in there because when we come back we take a look at biohacking the quest for a better longer more efficient life you're going to believe what some silicon
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valley leaders are doing trying to trick their bodies into running at top performance and as we go to break here's the sad sad numbers of the court. that. and i think is a leader just almost. an irishman i can't. imagine anyone knowing.
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what i want. and there's no no don't you know you not. can if you could vote all of them ok if this. was not going to match the data it will be like the battle they have laid for the last 3 of a garage and i don't know that i'm going to get. some of that having. given people. who give the nod to me i mean come on what the how do we slow our d. a soon i'll show you now and not go again need the whole corn dog for. why i didn't know what i wanna hear was so and i think just. the 4.
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points are actually used now they live better should we have had a much better 17 years that we could have a much more prosperous iraq a stable iraq yes as their. mistakes happen absolutely could the americans have made things better by far they could have done they should have have made it better but that does not take away from the fact that they have now stood a tyrannical dictator whom was bloodthirsty i'm here participated in the murder and killing of hundreds of thousands of iraqis are millions and more of the around them the invasion of kuwait and soft.
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and welcome back you know in so many ways the future is now and here on boom bust we are having high level conversations about technologies and trends that are reshaping how well and how long humans live today we're talking biohacking and while that is frankly a big umbrella today's this discussion is about ways that diets are being bio hack to trick your body into a fish and sea and longer life so joining christy and me are boom bust co-host bridgeboro and ceremoniously ok guys let me tell you. i love that i did that i'd already said let's lay the groundwork for this discussion here biohacking as we discuss it today at least it's kind of known as d.i.y. biology covers everything from highly restrictive diets to micromanaging your sleep patterns by making these changes proponents of biohacking say that they hope to improve their minds and optimize their bodies so they can function at a higher level so. how are they doing this who are we talking about are
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a lot of us actually takes place in silicon valley and it's where you see it most in the united states there is also a singapore tech entrepreneur that i had to read about as well but there's doing so much simply like the diets like you said there's intermittent fasting there's something called bullet proof coffee and that's coffee with moderate and apparently that helps your metabolism and helps things move forward you can also drink hydrogen water some of these people do i'm not actually sure what that does but that's been said there's also other things like life changing experience life experiences that you can do there's ice baths there's cryo therapy those have to do with cold apparently a shock to your system helps again with metabolism help with recovery when we're talking about injuries there are all kinds of things a lot people change their sleep at habits but i want to bring up one earth thing ok this. something that one of these guys does earth thing is a situation where you walk around for 20 minutes a day in the dirt and what it does is they put it this way i have to make this point performance or the method claims it helps the body absorb the earth's
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negative ions and balances out the positive charges within the body i totally believe it is walking around. in there and it is a result of that for the time that we were trying to babies you start to walk around a. couple of points of view so bulletproof probably by the way have you ever tried that no one ever had a really good stuff dave asprey there's a guy who created it i actually know very well. brilliant stuff great wealth and you put butter in it and it really really works good for you that yeah it's good for you but what do you think i mean like a little down on the stuff or you know there's a misconception to you when it comes to biohacking i think oftentimes people think biohacking means answering some sort of technology. is the pollie can mean they're right but it could also mean a marriot of things like inserting medicine for example now we know about there are these infusions that you can get it when you're deficient in a certain vitamin you can have those nutrients entered into your body which help i think in terms of people who are not as healthy i think there are other forms of.
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medicine also that can help you so not necessarily looking at the. year looking to stop from aging but i think to be healthy so i think that's also important and this intermittent fasting i've heard a lot of conversations about this before where one feels just don't like breakfast so this that term comes from a lot taking a break from eating breakfast and others there's this new term called intermittent fasting but i think biohacking has been around for years or infusions of celebrities artists people have been getting to ensure is that what homeopathic substances made for cater to the body and i think now we're just seeing a turn for either one of the celebrity up on this who does that but christy. you are the queen of biohacking you know how great it is to be the last thing is i know that i'm in a big school that. to them these different things because the stuff that you're talking about and where you talk to me about and you do some of it i will let you disclose what you do but this is kind of next level stuff in terms of how you're trying to mix kind of science and the function of your body could exactly so i
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think it can be separated into 2 umbrellas one is to improve your quality of life through whether it's through cognitive abilities or athletic abilities and the other half of that is actually trying to extend your life so if we talk about those 2 things separately if we're talking about improving efficiency so that includes everything from coffee in order to improve cognitive abilities that includes my kudos thing l.s.d. in order because that really says sara ton that would leases. and which also helps to improve cognition memory and allows you to do your thinking because that allows you to neurons to connect increased connectivity in the brain between this an abscess that don't really communicate that often so there is a lot of stuff that benefits that and that blood doping that's also a lot of famous athletes have done in order to. know what works for in the hands of performance and i feel like obviously you guys label me as a skeptic because i can tell you all day that i'm a skeptic but but i think the point is and i'm not saying that i'm not saying that all of these things there are
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a lot of things that increase your metabolism sure like you said obviously blood doping illegal for athletes but for you because you go success yeah but for you guys if you want to blood don't you're actually allowed to with that it's fine but i think when i look at things like earthing or moving blue light from your vision those things kind of scream a little bit of junk science to me you know i think there is a lot of junk science based in some of the earth things just walking around. the city that include so i want to speak to the intermittent fasting real quick so i actually do intermittent fasting i'm new to it so the jury's still out on how well it works but i will tell you this that in the time that i've done it for the few months that i've been doing it this essentially there's lots of different ways to do it the way i do it is 6 hours in which i can eat 18 hours in which i cannot eat only drink water during that time and for me it works great in terms. clarity waking up you know more refresh having you know more energy in terms of working out all those kinds of things so it really works well i also see a significant reduction of fat content on my body but i don't burn muscle so real
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quick you know imagine a caveman a long time ago can't go out and get food doesn't mean the food right can't find food if he goes back to his cave and says why didn't find the thing today goes to sleep and he'll starve to death if we can each day the human race would have lasted very long but what happens instead is your body says oh you didn't find the food today during this period so will burn fat storage instead and not burn muscle because you're going to need that to go kill something eventually i know for other people with animals who don't like killing. so that's the science behind us there's been a lot of them said their starters a lot of science behind why right there are studies that say that it's good for you there are others that say that it's not but i also think it depends on the body of the person because for me for example when i try that i feel like i'm going to pass out i feel like i need something in my body maybe it's just pushing through but i think it also depends on the body the human body and i think that goes back to the kind of when we talk about dieting too i feel like. we talk about cavemen but i start thinking are we back to paleo then is that where we are. so that is like good diet habits but then when we talk about actual lunge any and everything you know
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even though the science is still early a lot of stuff has been proven to be effective such as anything which is it hasn't proven that it kind and $800000.00 your natural body does go on the decline once you pass the 30 and that is a side effect of aging so the higher energy concentration is the more likely you're able to preserve your youth and nitric oxide another side effect of aging is that your nitric oxide level significantly decrease and silicon valley executive found that taking metformin which is actually a diabetic drug has been shown in studies in lab specimens that it does prolong your life and also reduces risk of cancer by john hopkins already course one of the ok and bridgewater thank you guys so much don't don't leave the spot those that were thinking. and on the far far side of biohacking we looked at what appears to be the perfect couple. a match made in heaven between yuan musk who is the founder of neural link that is he wants to implant a device in your head to interface with their human brain and we have a girlfriend and soon to be baby mama shannon grimes who posted about her daily
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regimen in a sincerely to instagram post so for a surprise begins her day by taking supplements and magnesium supplements to quote maximize the function of our mitochondria and promote a.t.p. then she spends 2 to 4 hours inside a flotation or sensory deprivation tank which she claims to quote helps her astroglide to other dimensions her workout routine consists of sword fighting and hiking at an incline that her evenings are spent in her red l e v fitted studio that allows her to maintain you and regenerate the skin from aging so washi engages in scream therapy she also claims to have undergone experimental eye surgery to eliminate all blue light from her vision in order to cure seasonal depression and so would you to watch that again on the portable t.v. 'd you couch all of the insanity for you almost to over and see about your next time.
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thousands of american men and women choose to serve in the country's military decision. every day came to a complete. the day that i was right be obstructive you know what they kill me and i see how it destroyed my life any screamed at me in. my own. right means birth think you know if you take into account that women don't report because of the extreme retaliation it's probably somewhere near about half a 1000000 women have now been sexually assaulted in the us military rape is a very very traumatizing. but i've never seen trauma like. women who are veterans who have suffered military sexual trauma reporting rape is more like. need to get the victim punished than the offender i had an almost 10 year career which i was very invested in and i gave that up to report a sex offender who was not even put to justice or put on the registry this is simply an hour and violent male sexual predators for the large part of target
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whoever is there to prey upon whether that's a man or when. the republicans have a reputation as knowing hell of a more about money than the democrats but the democrats are always very confusing and so bernie sanders is just out of a tradition he's talking about socialism which again is a it's a it's a model based on a in comprehensible all. non existent theory about money. in the troubled 19 seventies a group of killers rampage through parts of northern ireland that was coordinated loyalist attacks a population of tens of flows in support forced to flee their homes and what was striking to put these attacks was that the or you see the police actually took part in the attacks so instead of preventing it they were active participants in the burning of the streets in belfast i think more than
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a 100 innocent civilians with that as the review can seniors and we found out more i was surprised about the extent and of the currents which the solution was involved in some of those places that killers would lead to be named to then and we're getting i think it went to do very very top i think if the food. the water where all the patients you thought was going on and give the go ahead. oh my god the. low. right. no.
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hopes for peace in afghanistan where the u.s. and the taliban are expected to sign a deal to end america's longest war. also this hour the family of u.s. air force veteran former drone operator and whistleblower brennan bryant starts a fund raising campaign to get him released from jail as he faces charges of threatening city officials they claim the charges are politically motivated. and researchers at mit say a report alleging fraud during the bolivian election fall short on evidence president evo morales left his post amid mass protests over the suppose a boat violation.

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