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tv   Boom Bust  RT  December 18, 2020 12:30pm-1:00pm EST

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this is boom bust the one business show you can't afford to miss i'm sorry montecito go in washington coming up canada completed its independent review of boeing 737 and could see its return in january going to discuss some of the risks and safety of the plane with an aviation expert and more about. that now is facing
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a new lawsuit we have a tech round up with the host an investigative journalist have a lot to get to so let's just start. following making headlines once again as canada has approved boeing 737 marks jet return the country's aviation regulator said it expects to lift its flight ban on the jet in january adding transport canada aviation safety experts have completed their independent review of the design changes to the boeing 737 max aircraft recently certified by the united states federal aviation administration and have now validated these changes this was the longest grounded aircraft since the 2 fatal crashes that killed a total of 346 people back in 20021004 more on this and the. captain down a stager the communication committee chairman with the pilots association thank you for joining us and for coming back to us i want to start by asking you how
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extensive these changes are to the 737 how much additional training is needed for pilots. well thank you it's great to be back i will say before we start want to everyone to know that 346 lives that were needlessly lost and its aircraft are never forgotten and we have a pledge for never again a senior report that canadian officials have just. sense or no doubt that they're going to underground the aircraft of course the f.a.a. has and he also has as well so look at the canadian side and see what they found this is great to have independent review. found a couple areas that they're going to do a little different on checklists that we find pleasing and we're going to keep looking at that but at the core of the issue the m.t.s. this aircraft was unsafe and now with pilot training the reengineering as we've been assured and displayed is not really used to be the hours of training we have.
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about an hour and a half of i pad training don't be alarmed because that's. about 8 to 10 hours to go through the manuals now that we have which is is was great to get granular detail to include to our simulator with an hour of one on one instruction with an evaluator pilot so i just went through that training last week and trying to be good training for what we know about the aircraft and it went beyond just the m.p.'s many areas that thailand's across the globe said we need to be able to do this checklist better we're all integrated into this training and other upgrades on systems unrelated to the m.p.'s that were found could be enhanced so somber as a day it is that this airplane flies because we have the memory of those families a lot of work going into this. and we're going to get back at the job we're flying that airplane well i'm hearing a lot about the training that you've just recently had i want to talk about the
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rest of profile that people still have that whether or not there's actually consumer confidence hair fly or confident. some people think you could argue it's much safer because it has had so much focus it has had so much focus in terms of safety and having additional training for pilots but after given the training you just having it just went through do you believe it's still a risk at all well we don't play the game of we reject the you know less risk or safer than any other airplane as pilots we are because the last a defense for passengers we have one standard of safety and all aircraft have to meet that to include training in the engineering so this aircraft has certainly been more better than it was on your original roll out and redesigned in that's a good thing but we're not going to either an airplane is safe and we're trained to go on it or it's not it's not. a higher safety than another so that's the way we look at it and we're going to be on here but you know trust when it's broken and
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when it's broken it's the blood of innocent souls takes time to rebuild in we're part of that he our trust was violated so we're going to base this on actions and it doesn't just stop with the airplane being on the ground it will go forward every day that aircraft you know and our passengers can be assured that we're not going to engage in flying that aircraft until or unless we believe it's safe and we train today for me mark mark day last week and rest. soon at american airlines it's definitely taken time a year it's been the longest grounded aircraft but according to recruitment documents reuters said boeing is now hiring up $250.00 pilots to help and realign ching the 737 max boeing already has plans for a 1000000000 dollar investment in pilot recruitment boeing really seems quite confident in these changes is it encouraging to see. well i'm not sure
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what those brand ambassador pilots will be doing here in the u.s. uniquely in our unionized workforce we don't have pilots as commom from the outside start flying with us but not knowing all the details and say that anything these pilots do they certainly should enter the door they come in on the back of some really horrific. kind of pilot near like pushing with the rollout of the max that was in the past so these men and women shouldn't come to the door whatever door they enter globally as sycophants for boeing but as honest pilots how the pilots answering questions in shareholding gets that i don't think we're going to experience that because we have our own internal qadri of management pilots union but you know anything that is investment into ensuring that the pilots are highly trained and all the questions are answered of course we're going to be in support of that anything that gets in the commercial interest or lot of the airplane is
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more safe than any other airplane. you know play the game is pilots were out of it's it's a safe airplane or we don't go before we go i want to talk about boeing 77 dreamliner who's also undergoing some broader quality control checks they're taking longer than expected but these do mark the 4th assembly line lapse for boeing and it hurted a lot we've seen in the market we've seen what the company there and the aircraft maker has been through does this speak to potential quality control issues at boeing or is this too to this increasingly rigorous quality control tax. well i think clearly the quality control was not to the level that they deem necessary nor the f.a.a. so how that was discovered is not as important as as turning a new page in ensuring that those quality issues deficiencies are handled swiftly and there's no clock original. calendar on this and i'm going to comes to trying to airplane just one
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a darn right sir if it's happening because boeing is looking closer than complements the boeing that's happening because the f a's are going closer compliments of them either way it's a safety culture and what matters is what we do go we were not denying the past and trying the jet better which metaphorically sounds like what they're attempting to do i'm certain it's its reputation here for boeing but. more more important it's reputation here if something bad goes wrong on the other side we're here to make sure that doesn't happen all much like you said it is about building and regaining that trust that was once broken capped and on a stage or a communication committee chairman but the pilots association thank you for joining us today. thank you sir and happy holidays. the u.s. continues to pressure european mobile operators to replace china's telecom giant wall way as their main 5 g. suppliers will now and many are considering turning to samsung who already landed a $6000000000.00 deal with us giant bryson and currently while we equipment makes
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up nearly half of europe's 4 g. network this is a major concern for samsung is that while ways existing 4 g. network won't be compatible with its products and it would cost hundreds of millions to replace will samsung spokesman argued that this is a misconception but did not provide any technical details europe has already spent billions of euros investing in fiber optic networks will global system for mobile communication projects that on a global level over the next 5 years expect them to pay $1.00 trillion dollars to be invested in 5 g. now to google the company is facing a new lawsuit brought by the state of texas which is suing the tech giant over what it calls anti competitive ad tech practices the case actually marks the 2nd antitrust action against google remember this was after the u.s. justice department filed a landmark monopolization case against the company in october well joining me now for this tech breakdown major. co-host an investigative journalist been so on ben
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let's start with this issue of the lawsuit against school here by texas what's that all about. yes it's pretty interesting you know it for those who are watching you gotta understand that when it comes to the online ad space we're talking about websites and online advertising google or alphabet the parent company and facebook collectively account for about 85 percent of the entire ad network across the entire internet i mean that's pretty phenomenal when you consider that but what this lawsuit states is that in 2017 when facebook began to become a true rival to google in the alphabet in terms of the ad online ad market that google actually met with facebook and offered them a deal to say we'll give you special position in terms of our ad auctions if you were kind of curb your development of at practice so essentially saying we'll pay you off to not truly become a competitor and we'll give you a better position in terms of at auctions than any of your competitors or other social media sites that is the claim that's being made by the way just thought i'd
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throw this in there it was also named after a whole star wars thing it was called blue jet i or jet i blew excuse me jet i blew it was the name of this project but it really does speak to the heart of the competitive practices which is that instead of dealing with the free market in dealing with facebook as a competitor google simply bought them off similar to what google is accused of doing by the d.o.j. in their relationship with apple where they bought off apple to make sure they were the default search engine on us right now it's to google specifically meanwhile amazon also it's claiming that the pentagon's decision to give the $10000000000.00 jedi cloud contract to microsoft is quote the product of an increasingly corrupt environment under the trump administration what is the corruption they're alleging what are they talking about here yeah it's kind of a daze and i don't know how both these projects have starwars name so another project here the jet i project in this case i know unrelated essentially it's amazon is has been crying since this happened last year in which the pentagon
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awarded microsoft this $2000000000.00 cloud to contract for the pennant. amazon believed as did most of the world that amazon was the company that was going to receive this bid and the reason amazon believes that talk about corruption is because the request for proposal was actually written specifically for amazon there were certain terms that were written into this request for proposal this r.f.p. that would have made amazon really the only company that could have fulfilled it but because the pentagon under the trove of ministration said we're going with microsoft instead amazon is claiming oh it's because president trump doesn't like jeff bezos because he feels the washington post and the washington post is mean about trump therefore trying to use corrupt practices but the bottom line is this there the reality is the pentagon is not required to use anyone and the fact they didn't use amazon amazon things are going to hold this thing up in court and prevent this cloud computing contract going forward based on what because they think they should have been awarded the contract they have no right to it but they
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seem to believe they do they're just upset they didn't get it much like you said i want to bring it back to what we mentioned earlier just about the european and mobile operators believing that sam sam could be the answer to replace. i mean supplier but there are some concerns here for obvious reasons what are those right yeah well you mentioned right now when you were reading the kind of the intro into this and you said samsung is calling this a misconception it's actually not a misconception the reality is this if samsung becomes the primary provider of 5 g. technology across europe in order to do that they can't just start tomorrow and say start installing 5 g. technology because right now most of the technology across europe that set up for these european mobile operators is while way technology and remember the whole point of this is to remove while way so you and i have talked about this before the process is called rip and replace you rip out the product that's in there and you replace that product in order for samsung to come along and start building 5 g.
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technology best case scenario their technology at 5 g. would have to be compatible with wall ways 4 g. technology if it's not. which it's probably you would have to go back and rip and replace millions upon hundreds of millions of dollars worth of telecom equipment that's currently 4 g. technology samsung says it's not a big deal it's a very big deal now we've talked about this before i found a place like you said costing hundreds of millions of dollars the west coast investigative journalist pentagon thank you is our youth. got it. now quick break but when we come back congress is still stuck on a relief package was albus claim they continue to go up or break down what could happen on capitol hill and how markets are raising on these talks once again as we go to break here the numbers at this lasts. less.
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is it isn't that it is going on in the eastern churches. this. is weapons of mass communication is spreading until. their debate is. over james ok the gender of entities in the world is this. little 1000000000 contaminated condoms if you lose any geodesic to your mother's. gainst alternative vision. you'll start to question the circulation 6 years or. so later to determine it or.
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leave it up to leave to media. stay undercover. if you will get exposed to r.t. active waves decontamination i. told you i use is a spray it was unclear. her. birth. you can defend yourself edgel you have. good indication. said r.t. . dear to me i still gave you. the industry prefers to spend millions of euros in you know the. day
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relations i will be sniffing all about making money making profits in some of the corporations international markets import export do you imagine the number of chronic diseases that are in every community today it is not due to new viruses or new microbes that is not true so it is due to environment plus we'll see the look of the city though the moment all discipline of this sort of muscles are really just to kill it could only come in to see in them to these militias that they love to play the scum if the so food industry is successful it will create more jobs it will create more value added it will create more growth so i don't see why we shouldn't also fight for the interest something into street except that we are british and we want regulation has an industry and if we don't behave zinnias penalty just fine. sex drugs or
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financial survival. when customers go buy your dish to find. an elf well reducible our. that's undercutting that what's good for the market it's not good for the global economy. after months of talks. congress could be closer than ever to passing a 2nd stimulus package and it all comes as funding is needed for the government itself in order to avoid a looming shutdown our teacher rachel joins us now to discuss rachael what's the latest well republicans and democrats in congress are now saying that they are finally ready to pass the next coronavirus relief bill and they're saying that the price tag for this $1.00 is around 900000000000 dollars so what is expected to be included in that let's take a look at some of those provisions it would include
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a $600.00 stimulus check $300.00 per week in federal unemployment insurance 300000000000 dollars for small business loans an extension on the federal moratorium on vixens and funding for covert $1000.00 testing and vaccine distribution now as far as what is expected not to be in this proposal that state and local funding liability protection for businesses and support for restaurants that have been hit particularly hard by lockdown measures in recent months now it's also important to note here that there's a lot we still don't know about what could be in this bill and on top of that we've also seen a lot of criticism over the idea that they're going to go forward with just $600.00 in stimulus checks and we've heard members of congress say that 6 $100.00 isn't going to go very far for the millions of americans who are struggling right now it's true it's only half of what we saw last time but why now i mean we've heard this back and forth for months now what the timing of all this while congress knows that they are running out of time here not only are they looking at
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a government shutdown on saturday if they don't pass spending for themselves but now they're looking at all of these issues and saying that they are going to pass one large omnibus spending bill that includes the money they need to keep the government going that includes this current of iris aid relief and that also includes this annual defense bill now the thing with the defense bill is that president trump has threatened to veto it because it includes provisions that he doesn't want in the bill so we actually heard from senate majority leader mitch mcconnell earlier and he called on trump and specifically. now is the time to put politics aside take a listen. and i'll show you this russian president in my judgment we're very close to a point to raj in every major negotiation. point we're. in the room on the other hand after months of inaction do we want to move swiftly on usual partisanship to closure or issues. and right to accept and quickly. into law. now on top of those deadlines that congress is facing the american people
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are also facing deadlines on protections that were passed earlier this year for example an estimated $12000000.00 americans stand to lose their federal unemployment benefits the day after christmas the current federal moratorium on a vixens expires at the end of the gear and jobless claims were up to $885000.00 last week which is the highest we've seen since september so certainly a lot at stake here well not a lot on this bill but what can we expect are we going to see another one well that could likely be the case we've heard from president elect joe biden he's referring to this purposeful as a down payment and he's saying that as soon as he gets in office there's going to be more relief and more of what the american people are looking for but of course we also have to look at congress and whether or not vera going to be able to come together or it's going to take them months and months again to pass that very much needed really massive bill that he says is committed to helping the people are to correspondent rachel evans thank you for your time thank you. you know for the
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depth of the markets and more we turn to both co-host christiane and michael pentode of panto portfolio strategies michael let's start with the u.s. and p. and nasdaq they're both hitting record highs this is despite the the jobless claims despite congress pushing or in spite of. the american people really needing that stimulus hasn't passed yet will a deal get done in time. course the deal will get done is there anybody in d.c. that really cares about it anymore either you don't see the market is you know valued say earlier you question you know the valuation of the market this is the most overvalued market we have ever had in the history of our stock market if you look at the median ratio on the s. and p. 500 it's now at 31 according to ned davis research yes of the 500 have the prettiest y. 45 percent just to return to your normal valuation and you listened to mr powell press conference i mean another paraphrase but this is my juror decision of what he
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said he said that the u.s. treasury only if you remain solvent unders euro interest rate policies and you can only justify the value of the stock market during a regime 0 interest rates. are and that's who are more and more debt and more and more debt monetization and switch on that's where they want to stay the federal reserve said that they were going to keep interest rates near 0 they thought that what their plan is as of as of their latest meeting kristie i want to talk about robin hood here in the midst of code it's one of the biggest winner of the fastest growth a stay at home americans turn to training to earn some income here extra cash however it recently set off an investigation with the thek what happened there. rather have financial has agreed to pay $65000000.00 to settle regulatory claims that it didn't sufficiently disclose its business deals with high speed trading firms so it's quite interesting seen robin hood fail to fully repeal on its website how it made
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money from students with the brokerages such as said all securities and berkshire financial so robin hood on the surface advertisements 3 commission this trading they instead generate revenue by rowdy customer orders to trade which then pay for the right to execute many of these trades so this practice is known as order flow and this creates. the interest for brokers like robin hood because of the incentive to maximize the progress revenue rather than ensure that customers get a good price on their trades so that as he said the robin hood made misleading statements and admissions and its customer communications and that the website did not disclose that its largest revenue source for making money was doing these payments from the strain so as a result robin hood's customers order for executed at prices that were inferior to other brokers prices they found that these inferior prices led to the loss of $34100000.00 for customers despite the fact that robin hood claimed that its execution quality matched that or that of its competitors so now robin hood is
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saying that it's working with additional market makers to improve its trading executions but this is going to continue to be a problem especially as robin hood targets demographic in these novice traders with little to no experience in the markets and they are especially vulnerable as robin hood's business model is to kind of investing like one giant casino without providing the upper texas for new investors a lot of people joining in times of need much like we said to earn extra income michael i want to turn back to these jobless claim numbers that we mentioned it was supposed to slow modestly but it went from 825002885008 3rd that have the highest number we've seen since september right so how is the u.s. going to dig itself out of this hole. oh it's not going to without crashing 1st unfortunately you know in challenger year 2020 the government will have borrowed 4 trillion dollars who are doing dollars assuming this latest iteration of stimulus gets passed and mr powell as promised well in most of the 4 trillion bucks of that
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was printed by the federal reserve and now mr powell promised it is let's ask congress to monetize $1.00 trillion dollars more adam this is an alternate record amount. of hitting if you forgive me but this is unbelievable $1.00 trillion dollars for adam he's going to monetise of treasury debt so when you think about all the debt that we have you know 128 percent of g.d.p. of course it has to be monetized otherwise reality will reveal that this market is completely untenable at these prices and the debt is untenable at these levels well michael kocher michael speaking of obviously fed chairman they're going to leave rates unchanged and they didn't change much to what their plan they said they still have a lot of resources but inflation expectations are now 18 month high if i want to see inflation go up that high. so if the court p.c.
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deflator is what that looks at they want to see something north of $22.00 and a half percent for a sustainable period of time and that means years because it's just a metric target now don't forget so over the years it was below 2 percent we couldn't get to 2 percent it's still below 2 percent where b.c.e. so is have to wait above that for a very long duration before they're satisfied but let's just be honest to just be honest here this then try to normalize interest rates in 2018 and the stock market collapse the russell 2000 laws are set in a couple of months and then they stop normalizing the balance sheet they stop raising interest rates they get a year later the repo market crashed in the summer late summer and the floor 2019 so we can't pretend any longer i don't know why mr powell is pretending. all when all of his menial meaningless mandates are met that he can and spend your way the
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size of his balance sheet or raise interest rates back to some kind of normal. posterous if jen never happened on an economic and stock market it's hastur that's kind of what we're looking at here unfortunately we're out of time and with co-host christi i'm michael pentode of multiple strategies thank you for your in office today. to talk to now you can catch him bust on the man on the portable t.v. app or simply check out part of all the t.v. the next time. the lower. the universe is revealed. the information processing. of the that is the also the reality of this thing we call matter and you can hear people there who can take you can touch it solid busy. but until it was so deep down. about it they should.
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join me every thursday on the alex simon short and i'll be speaking to us of the world of politics or business i'm show business i'll see you there. as the u.s. economy was booming growing numbers of people were made homeless. you can work 40 hours in a week and still not have enough to get housing everybody believes america still has the lead up to the reality of those who were not financially quality and the lack of affordable housing or living minimum wage gave many people new choice you know there's been a problem with the city and all those turned over to china told me stay away i've always. considered that. because the records resource the most vulnerable are abandoned on the streets to become invisible clubs.
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and r.t.i. exclusive wiki leaks confirms the authenticity of the recording they could spin the narrative function sounds as soon as the whistleblower did try to prevent it not facilitate the release of thousands of sensitive u.s. cables his claim the courts knew about the tape when deciding on his extradition to america this is evidence that you. knew 2 courts in the u.k. transcript of this conversation was presented to the port and september. russia says it's banned from ole just sporting events so.


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