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tv   Boom Bust  RT  March 31, 2021 8:30am-9:00am EDT

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for a vaccine within the next month straight ahead we have a vaccine expert on hand to break down the process and with the economic uncertainty from coronavirus ebing it seems that cryptic currencies are here to stay boom bust ben swan is standing by to bring us up to speed on the rapid adoption process with a packed show today so let's dive right in. and we lead the program with the state of the back senior a lot bio and tech and pfizer will manufacture an additional $500000000.00 doses of their coronavirus back scene this year bringing their total production to 2 point $5000000000.00 doses by the end of 2021 now the announcement came during bio and takes an annual earnings call on tuesday when it counts profits of over $430000000.00 for the 4th quarter compared to $68.00 a $68000000.00 loss for the same period the year prior before the pandemic now the german pharmaceutical company says it has over $1400000000.00 in cash and players
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to use some revenues for other research you remember the german fire a suitable company made headlines early in september after receiving $445000000.00 from berlin to support its development of the copen $1000.00 vaccine and in july the united states had agreed to pay nearly $2000000000.00 for the 1st $100000000.00 doses of the vaccine once it was approved by u.s. drug regulators. and meanwhile as we talk about increased supplies of covert vaccine us president joe biden on monday announced increased access for most americans in coming weeks i'm pleased to announce that at least 90 percent of all adults of this country will be eligible you vaccinated by april the 98 just 3 weeks from now because we have the facts seeds for the vast vast majority of adults he won't have to wait to make. now while much of this seems like good news not
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everything in the vaccination effort is going as planned r.t. correspondents i attempt or has more sorry are you know you're exactly right so while the u.s. might be on track with a vaccination rollout europe is questioning the safety and one of the most commonly available vaccine astra zeneca all while a 3rd way of the pandemic crashes over a europe now multiple countries are currently either completely halting or putting an age restriction on the use of astra zeneca as colvin 1000 vaccine after germany recorded 31 it cases over a rare blood clot in the brain 9 of which resulted in deaths now 18 countries mostly from the e.u. but there are some outside of the e.u. like thailand indonesia democratic republic of congo they have partially suspended the astra zeneca equipment 19 vaccine while possible side effects are investigated and what i mean by partially is that this vaccine is now no longer given to anyone
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on the age of 55 since younger patients are mostly at risk for blood clots and while countries like norway have extended a complete pause on the vaccine others like canada france germany sweden finland and other countries have imposed age restrictions meanwhile a few countries love kossovo iraq and india are accepting their risk and will continue distributing it to all age groups but then of course this is not the 1st time that astra zeneca is being questioned many european countries briefly stopped using a vaccine earlier this month for the same problem but after earlier reviews the european medicine agency decided to continue using the astra zeneca vaccine since they said that all the benefits still are weighted it's rist now the world health organization also agreed with them but since 10 ma. european union countries had
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resumed its to use fully until now and scientists are really scrambling to understand the scope of this you know so far most cases have been observed and women under the age of 55 but that could be because many country initially use astra zeneca only in people younger than $55.00 because early clinical trials included fewer older recipients and the men that the vaccine will use in priority groups such as a health care workers and teachers a majority of which are women in fact in norway for example 78 percent of the astra zeneca doses went to women however in the u.k. astra zeneca was 1st administrating older people which may explain why they had fewer side effects again so far just assumption by scientists while they continue studying the real cause of the side effects brant sorry even before they had the
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issues with the vaccine in there were supply issues correct no that's exactly right vaccinations in the 27 member blog had been constantly delayed by production issues and sore shortages you see you know the e.u. decided from the beginning that they would make all the axion agreements and purchases to gether as a block and the reason behind that was that the e.u. worried that if each leg were left each of its member countries i should say were left to acquire vaccines for themselves smaller and poorer nations wouldn't be able to buy enough but really quickly that you realize they hadn't purchased in all vaccines causing clinics anywhere from madrid to paris to rome to cancel vaccination appointments to the shortages now some e.u. nations however decided to take things their own hands and book away from the blog hungry is an example who decided to buy the split the vaccine directly from russia . you know as
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a result has vaccinated more of its population than any other country in the usa should say now following hungary's lead austria is in talks with russia to buy 1000000 doses of this wouldn't agree vaccine this by not having been improved in brant or to correspondent saya tablature thank you so much for keeping us up to date. so for more or for some analysis on the state of vaccines and the rollout let's bring in a real expert in the field dr william schefter vaccine specialist with vanderbilt university medical center dr schaffner always a pleasure to have you on and last time we had you on was 2 weeks ago today is there anything new here are these blood clots a concern or is this just safety 1st. i think it is safety 1st brant because syosset the european medicines agency gave it a clearance they said there may be a very very rare risk of a blood clotting disorder but in comparison to the risks of coated there was no
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comparison the public healthy question solved in favor of using this vaccine remember this is a cheap vaccine that can be made in very very large amounts it can be held in normal refrigeration and it was thought to be the big vaccine that would be used in much of the world particularly in the developing world so at the moment the the astra zeneca vaccine is in kind of a bit of a limbo here but i think they're looking forward to is as they apply to the food and drug administration for emergency use authorization easier if they get to that will quiet a lot of the criticism around the world and when you talk about using it around the world specifically in developing nations is there a concern that you know in the court of public opinion the damage has already been done about this vaccine we've heard so much bad press about it you need is there
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concern about that. of course there's concern about that and so if it starts to be used in large amounts it will have to be promoted in terms of preventing kogut which is very bad for you. and now we heard a lot about this on monday about a c.d.c. study that showed pfizer and madonnas vaccine were actually 80 percent effective after just one dose now of course the number goes up to 90 percent after 2 doses is there significance to the one dose efficacy where when we know 2 is better than one and we're actually seeing increased supply so does it really matter that one dose is really good. well it does matter in the sense that if somebody can get their 2nd dose right away they still have substantial protection but of course everybody who's taken one dose of pfizer or maduna is absolutely encouraged to get that 2nd dose because that 2nd dose really boosts the end of body response very very high
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and helps protect them against some of these variant strains so it's very important to complete your series and i want to talk about this because it is a big topic of discussion at least among probably kitchen table in the initial test of the big 3 pfizer madonna and johnson and johnson now is this going to be a situation where you know here in the united states while the last group is actually finally getting vaccinated the 1st one is going to be getting back in line for their booster another round altogether well we're a little bit ahead of the skis here prince you're very interested in knowing how long the protection last believe me we are all so so we will determine that as we go along in the meantime let's make sure everybody gets their 1st series of the accedes yes we may be doing some boosting down the road but that's far from decided at the present time and i want to talk about this because on a global scale there's some talk of vaccine nationalism
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a little bit of what cya just mentioned the worry of nations holding back baxi and to take care of its population rather than sending them out to developing nations that may need them we've seen the e.u. set up export rules for delivery while india is actually held back nearly 2500000 doses of that astra zeneca vaccine to meet domestic demand is this going to be a major issue with the rollout. oh of course it is you know we don't live in a perfect global community just yet and it was clear that the developed countries would take care of their own populations before they started to think about that needing the world but this is a pandemic even if the developed countries vaccinate their population we have to be concerned about new variants occurring in the developing world and reintroducing the virus to the developed world so we must think globally we have to extend the benefit of prevention to the entire world's population and in the last one before
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we go there are concerns that a new vaccine may need with it be we needed within a year as mutations and new strains as we've been discussing could render current drugs ineffective is that a real concern for you dr shafter well it's something that everybody is considering in fact those 2nd generation vaccines have already been made just in case and they're starting to go into clinical trials so we'll have them available if we meet them. dr william schaffner of the bendable university medical center thank you so much for your time. my pleasure. and a huge step forward for crypto currencies as pay pal has announced that it will now allow checkout with crypto for its users now this move makes pay-pal one of the largest mainstream financial companies to open its network to crypto currencies and helped fuel
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a rally in virtual coin prices big quinn has nearly doubled in value since the start of this year boosted by increased interest from larger financial firms that are betting on greater adoption and see it as a huge hedge against inflation joining us now to discuss. the best agave journalist and crypto analyst don't forget that ben swann is then explain the value of this move into the crypto space for pay pal. yeah i think it's a pretty big move certainly it's a big move for pay pal is actually a good move for for people who hold their any kind of bitcoin like coin theory i'm becoming cash those are the currencies right now so here's how it works with basically pay pal is saying is if you hold those particular forms of crypto if you go to check out from pay pal with any one of its 29000000 merchants around the world you will be able to use your crypto currency by converting it into fee to make the payments so in some ways it's like pay pal is taken on the role of an exchange because they're taking your your bitcoin or crypto currency select ones
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and it's converting those currencies into right there at checkout the merchant gets the feel and pay pal is making the conversion for you and taking a fee so it's actually a pretty good system in terms of creating some real world usage for crypto i got news for you if your pay pal is the name most people who hold big are not going to spend it but those merchants because they're going to haul they're big they're not going to spend that but in terms of the actual technology and the point that this has been an effort for many years in the cryptic community of creating real world 'd usage of crypto this but expedient that process pretty significantly now for pay pal themselves is this really about them saying we'll convert that then we can hold that because one which is gaining a lot of value and that's just money for us that's basically an investment in a store of value. yeah i think there's some of that involved in i think that pay pal though recognizes that this is where currency is headed so the sooner you're
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able to establish the systems of by which you are able to convert easily and make these transfers from a crypto into a currency the better they're going to the other thing that i think that would be of extreme value here is that pay pal is ultimately not going to like how the i.r.s. treats this business because if you receive crypto and then you turn around and convert it into with the currency it's treated like property it's not treated like you're making an exchange of currency so because of that this might actually expedite some of the changes in terms of the way the i.r.s. views this because when you have big players like pay pal at the table they get things done as opposed to just the everyday crypto user. made news on monday saying it allows the use of crypto currency u.s.d. coin to settle transactions on its payment network so tying that with the pay pal news how do these moves by these companies move the crypto space forward well i think it does move the cripple space for it is interesting here because with these
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is doing is they're working with a very specific kind of crypto which is as you said is the u.s.d. coin basically it's a what's called a stable coin it matches whatever the value of the u.s. dollar is at the time is tied to the actual coin itself so it doesn't fluctuate as much as others because of that announcement went up and went up but it doesn't actually affect that quite or theory it is just another example of how digital currencies are becoming a part of the landscape so visa's doing something very different than one bastard card is doing master cards working with more crypto currencies these is keep it to that u.s.d. coin even so though it does move the whole space forward because it creates more of a mainstream usage of crypto which should be a surprise to anyone that it's happening but it's something that the crypto world is eyes as i said is that moving towards for a long time so it's very helpful in that respect co-host ben swan thanks so much for breaking this all down for us you've got it. time now for a quick break but when we come back the next battlefield for the by ministration is
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shaping up to be a major overhaul of u.s. infrastructure will welcome apparelled the break down how markets are reacting ahead of this fight and that's a good break here the numbers of close. in the 1920 s. and thirty's several 100 african-americans moved to the soviet union and many of their descendants still live in russia. looking at the risk of knowing no rush but us though up most of us in. ways one things in their lives at their. back home i can merican suffered from racism and a complete lack of prospects. that he'll be a loser all show them one by else
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direct. what is true what is. in the world corrupted you need to descend. to join us in the depths. for a mate in the shallows. and welcome back ships are once again moving slowly through the suez canal on tuesday after that giant 1300 foot container ship the ever given was freed opening the crucial waterway to traffic now amid the nearly week long saga more than $400.00 vessels had been blocked from the canal which accounts for roughly 13 percent of global maritime trade and 10 percent. seaborne oil now the freighters that were delayed carried goods like grains energy and livestock the latter of which received
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priority for passage as their cargo was deemed most at risk now as traffic resumed oil prices dipped again but this is also ahead of an opec plus meeting set for thursday where the body is expected to extend production cuts through may. and u.s. 10 year treasury yields hit a 14 month high on tuesday and that optimism over the economic recovery this comes as the nation faces fears of inflation and anticipation of the biden administration several trillion dollar infrastructure package for more on this and what's moving markets today let's bring in blue bus co-host christy i am michelle schneider of market gauge dot com thank you both for being here christine i want to start with you the 10 year treasury yield hit its highest point since january 2020 topping 1.77 percent what does this actually mean. well there's almost 2 different sides to rising rates is it being driven by fears of inflation or by optimism about the economy and lately it's been driven by fear the market is going
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to experience heightened volatility this week amid the continuing fallout after articles and you also have the tech complex drop in pressure by the latest reflation scare and even though there wasn't a specific catalyst for the sharp move higher bond they had the week ahead of biden's u.s. infrastructure plan details so the u.s. treasuries care more about the inflation than the arch i guess fall and biden speech might be a catalyst for a deeper sell so as the u.s. economy starts to bounce back there are increasing talk of inflation is specially after the $1.00 trillion dollars stimulus package signed earlier this month analysts together there is that risk of inflation pressures will be less transitory than expected increase in the odds of the fed sitting behind a car and then later being forced to change course more rapidly than projected a number show us stocks are actually struggling to rebound as bank of tech stocks continue to have lead the decline how are investors positioned in this market going into the 2nd quarter. well we have seen this great rotation into small caps in
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transportation some retail particularly as we're talking about anything related to home goods and also consumer discretionary and that's where the money continues to grow in terms of the actual nasdaq and the big tech and the mega kept yessing are definitely being impacted by the rates in the recent rise in rates and they've been under pressure underneath their 50 day moving average but then again so are the small caps so what's really has to happen here right now is that i think the whole market wants to see these rates ease a little bit and they actually did by the end of the day at least come down a bit from their highs so i think that whereas also even though the arc across situation hit the banks because they lent margin money to sue the company they actually are holding up pretty well too so i think what we're seeing right now in terms of the normal value as i said retail smallcaps transportation which not all too hot time hides that money will continue banks i think will continue to get some
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money and terms of big tech it might be right now waiting for the next quarter earnings to come out and if they see anything in remotely optimistic you could actually see money going back into those growth stocks pretty easily i would watch for those march. to hold and any kind of turnaround here as i said in the rights. as we kind of talked about there at the top of this segment brant crude in both trading lower month to date as ships resume moving through the suez canal now the attention is now on that opec plus meeting on thursday how are things shaping up with that. saudi arabia is likely to urge opec and its allies to extend the existing $1000000.00 barrels per day production carbs at the same so why the prices are selling off it's telling us that investors think that this may not be enough especially in light of weaker demand in europe and softness seen in china european countries are taking movement restrictions further amid yet another spike of infections and the u.s.
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is also reporting higher new infection rates despite accelerating vaccinations and reuters cited that russia too was willing to back a further extension of current cuts but it also wanted to secure approval for a moderate increase in its own production to respond to higher seasonal demand at home so the e.t.i. fell about 1.6 percent from a delivery of brant fell 1.4 percent though both still remain up more than 20 percent year to date so far prior to this latest out of the market expectations were that the group would start easing has more aggressively from may as we head into the summer driving however it seemed like expected to be bad and demand has not materialized at all that the opening trade has not been as aggressive as forecasted so it will likely mean that opec will take in more cautious approach and it's increasingly likely that opec will hold album levels basically unchanged to avoid another sell off show we are to do this at the beginning of the segment as well president biden looks to reveal the scope of ambition of his new spending plan this week what is expected from this infrastructure plan and what does it really
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mean for the economy and continuing to stimulate that is as he's been trying to do since he took office. well to answer the 1st part it's a very wide ranging infrastructure that is basically they restart the proposed tax increases both to companies and to the wealthiest so they're planning to spend willy millions of dollars on roads bridges broad broad and a domestic manufacturing they want to boost research and development funding they want to improve caregiving for the sick and the aging and basically to pay for that . they're looking to raise the corporate tax rate from $28.00 from $21.00 and the individual income tax rate from $37.00 to $39.00 plus add an unrealized capital gains at death so essentially biden is calling himself the lyndon johnson 1960 s. great society in the f.d.r. 930 s. type of situation that of course didn't exist at the time but climate change is
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a big part of it too and of course its whole idea of china and trying to deal with china with the s.e.c. now looking at the listing some of those china stocks or as biden said because they're going to eat our lunch if we don't do 'd something in terms of what this is going to do for the economy no one is going to argue with the fact that an infrastructure package is desperately needed in this country for many reasons not from just job growth but even for morale as we continue to slip behind asian countries in terms of our infrastructure as far as all the taxes and costs and the spending that's where i think we'll start to see some sticking points and how effective if any agreement can be made between the 2 sides of the of the fence michelle snyder of market gauge. christine thank you both for that analysis today. thank you. and that's it for this time he gets boom bust on demand on portable t.v. which is available on smartphones and tablets through google play in the apple app
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store by searching portable t.v. what if you can also be downloaded a newer model samsung smart t.v.'s as well as ropey devices or simply check it out affordable about t.v. what's the next time. an entire village in alaska has had to move if another country threaten the wife of an american. we do everything in our power to protect the. water then escaping climate change poses the same threat right now alaska has seem some of the fastest coastal erosion in the world we lost about 35 feet. 35 feet of ground in just about 3 months while we were measuring. is fast and that means the river is 35 closer than how ben was 4
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i think were part of the thirst for. humanity has never seen such strange natural phenomena before giant coming to us appearing in the young mt peninsula. one after another. plus never doubting yourself again you've had your. get your foot you know whom does lovely thought of it that you wouldn't hear. this one appeared in 2020. how often and where will new crisis appear as a discussion of how dangerous own day the human this family you is different than 102021 rushed. when scientists came quite close to working on what's going on. they built a full scale 3 d. model of the black hole.
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the world is driven by dreamers shaped by one person with those great. military thinks. we dare to ask. them to.
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explain is undoubtedly a sad fact that one of the vaccines available to us from this pandemic appears to pose an increased risk for a certain age group. germany suspends the astra zeneca back scene for people under 60 of appearance of rare potentially fatal to blood clots leaving people in that age group in limbo of those who have already received the 1st dose of the jab and. off air and now off line a whopping of blocks argues russian website following last year's decision by the country's broadcast watchdog to ban 7 channels under the r t v media group. and an asian man is brutally assaulted in the new york subway and an elderly pullup you know woman.

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