Skip to main content

tv   Boom Bust  RT  November 12, 2021 5:30am-6:01am EST

5:30 am
state will bring in later some kind of very recession and what it means for the leader of the piece of the public and in place is maintaining its grip on the united states, a supply chain issues. this will take a look at the nation central bank plan to combat the rise and figure and could ribbons stock live up to the hype or will it for like the mean stock before it, as the new evie player has been given a higher valuation and some of the most historic names in the auto sector. we've got a fact show today was dive right in. and we lead the program with china. thing is ready to properly manage differences with the united states during a keynote speech at the asia pacific economic cooperation, c. e o summit on thursday, president shooting ping warned against letting tension in the asia pacific region caused a relapse into the cold war mentality. we should be looking to move ahead, find the reject practices of discrimination and exclusion of fathers. attempts to
5:31 am
draw logical lines performed more circles on geo political crowns are bound to fail . pacific region, but you cannot live into the confrontation and division. the comments come as the chinese communist party has approved a historic doctrine that would put she on par with only 2 other party leaders in its history. mazda down the founder of the party, and dang, shall ping who famously began. the market liberalization that led to the china. we know today the move was unveiled at a plenary session of the ccp, only the 6th time in history that such a meeting was convened. session is also unfolding less than 2 months before the start of the beijing winter olympics, where, according to reports, she will personally invite president biden to attend. so what does this mean for us china relations moving forward? we'll break it all down with bringing too much co hosts bend swan and christy. christy. i want to start with you here because china had previously put together
5:32 am
a resolution there last resolution for that matter. that essentially pushed towards the economic prosperity in tech dominance that we've seen over recent decade. how does this latest resolution compare? well, the latest resolution marks, a continuation of that as she's big push was to fill in the gaps in innovation and avoid technological independence on the u. s. and others. so under changing paying, china has invested tens of billions of dollars for its tech industry calling tech development a matter of national security, not just economic development. so this meeting was extremely important because it would set an agenda for china through to the 100 year anniversary of the nations founding in 2049. so in addition to the big push into technology, she had also added his personal ideology to the party charter, which essentially entwines himself with a new national agenda until 2035. and in doing so, she has launched a number of ambitious policy initiatives to basically remake swats of chinese society target. things like environmental degradation bubbles in the property
5:33 am
market and this excessive wells held my entrepreneurs. and while his approach is different, he is actually tackling the exact same problems as we have here in the states, which is huge, wealth disparity. and it's interesting that while we paint and a picture and criticize trying and trying to solve it with socialism ideals here in the space where know better and instead we just make up new laws. oh, you need money for the inter foster bill. let's just make up some new laws that will now tax on realised gains which is completely unconstitutional. and now burn while china is calling for cooperation in the need for working out differences. they also recently built us aircraft, carrier shaped target, that people worried that they may be preparing for some sort of conflict. obviously, i think that could be seen a lot of ways what, what are you on that? oh, i think trent is absolutely getting ready for conflict, so they be crazy not to be ready for complex. you don't serve the world's largest superpower and become the world's largest economy and not expect them to want to do
5:34 am
something about it. that doesn't mean that china is going to see conflict with the united states. certainly, we hope that it's not the case, but we do know there's been a lot of provocation, especially over the last few months in years and increasing provocation. i think from the u. s. in the south trying to see specifically, we know that china, for their part seems to have increased provocation towards pie one of the usaa saying that that's a red line and that they want a lot of china across that. so there is a, there's a building up here, a provocation from both sides. it's not one side, probably getting the other. it's both sides. but i think that what china has to also recognizes that militarily the united states is more ready than any other country in the world to try to take it on militarily. and that is our status quo. what we've done in the past hour, you know, modus operandi has been when there is a, a strong challenger in the world. we go in and create disruptions for the china has not allowed that. including in hong kong, we can have a huge debate about democracy in hong kong. but there's no question that the united
5:35 am
states was part of pullman team for right or for wrong. but part of for missing this attitude of democracy in hong kong and china put a quick into that. so the chinese are not going to allow us to interfere with their country. the way that we have in so many other cases. and now christie presidents bided, and she actually expected to hold a virtual meeting as soon as next week with she publicly attempting to ramp down tensions. what do you actually see happening there? well, i think it's a logical step as both sides realize there's more to lose and open conflict and there will be no winners there. so instead in this current economic climate, it's important to recognize that both sides are actually weakened. growth is weak. there's ramp and inflation and many industries are hurting. so there's more to gain in the meantime from cooperation than conflict, which is a big change from the on trauma or rhetoric, which was bluffing and trying to find ways to leverage our opponents weaknesses while showing none of them yourselves. so the trump had all this rhetoric that
5:36 am
built a paranoia that china's dominance is growing, and that it is dangerous. so in an attempt to dissipate some of this paranoia, she's trying to basically recess all of friends that while we are growing, it is not a threat. and now bad, i want to go back to the resolution because much of that is about touting the success of the chinese part communist party, correct? yep, no, i really look, i love the full disclosure here. i am very anti communism in my world view, right. i believe that is not the way countries should be right. and i think it is the wrong way to approach the idea of self governance for people is to have this, this communist system. having said that, you cannot argue with a couple of facts. and one of the facts is that china has reached kind of a pinnacle of military strength, economic strength, actually growing, raising a middle class in their country, which is something that we typically think is the antithesis of communism. that doesn't usually happen and actually presidential for, to give him some credit is doing some things that i wish we would emulate here in
5:37 am
the united states, including what christie talked about, you know, cutting off these gigantic companies and not allowing them to, to essentially run amok in the economy, not allowing companies to become too big to fail, limiting monopolies and some of the things that he's doing are things that we shouldn't be doing in the united states. so when the communist party of china and the communist nation of china is taking pretty dramatic steps to kind of redefine what it means to be a communist nation, 100 years later, i think the, the world has to pay attention to that. it doesn't mean that doesn't, you know, advocating for that position is not an endorsement of it. but it is to recognise that there is absolutely some real success happening here. that presentation can take credit for, as he continues to move china forward in really remarkable ways. and is that a threat to the west in many ways it may be a threat to the west, but is that necessarily a bad thing? i think the jury, so i don't that maybe we should be taking pages from their book instead of seeing everything as a negative. of course,
5:38 am
anything that threatens the power of the united states is a threat to the united states has been swan and chris the i think you both for your analysis today. thank you. thank you. and with inflation in the united states hitting its highest rate in 3 decades, all eyes are on what moves the federal reserve may make it an effort to deal with a problem that appears to be anything but transitory as we reported on wednesday and october, the consumer price index wrote 6.2 percent year over year. the highest rate since 990 the labor department reported rising cost for red medical care, new and used vehicles, furniture and gasoline, as well as overall energy needs on the fed front. as the news broke traders in futures market markets moved their expectations for the interest rate high to july of 20 to 2022 from september. meanwhile, another member of the federal reserve board of governors. random quarrelled announced that he would resign from the body at the end of the year, leaving
5:39 am
a total of 3 vacancies to fill for president joe biden, while fed chair jerome powers term ends in february. as this future is unclear with the central bank. joining us now to discuss is the ceo will intelligent callaghan that is to say and former fed insider danielle de martino booth. always a pleasure to have you on daniel and i know there's a lot we want to get to today. so i'm going to get right into it. i want to start with the state of inflation because we all know what the fed has said about all of this. after the last meeting of the f o. m. c poll said powell said they were going to raise rates until maximum employment was reached. but does that actually kind of changes? analysts are now warning of high inflation for at least the next 6 months. well, yes, thank you for having me this afternoon. and yes, i think that the, the narrative has changed. if you watch the tone of the, of the press conference, the reporters were actually somewhat confrontational because he tried to stick to his maximum inclusive employment goals. but at the same time, they were saying,
5:40 am
but wait a minute, the inflation is running. so ramp it that it's hurting the people that you're trying supposedly to help the most. because we have to remember that inflation inflation at a 30 year high acts as a regressive tax, on the lowest income earners. it harms those who make the least. and that does more damage then, then then president, and then ben, ter, powell is accomplishing by trying to get them jobs. so it's, it's a huge tug of war. it also shows the inherent conflict of interest because the fed does have to try and do 2 things that inherently conflict with one another. why don't you try to hire help the people at the bottom, but it seems like what these easy monetary policies is. of course, it's only helped wall street for the most part in recent months. now on wednesday, we talked about how inflation has been hitting nearly every sector of the economy. mid this perfect storm of that easy monetary policy. supply chain constraints, high energy prices and force increased demand. is this different in your opinion
5:41 am
than anything we've seen in recent memory? well, i certainly think it's different for one specific reason. and that's that when, when you give americans, especially americans who don't necessarily need the extra disposable income, who don't necessarily need the extra cash, all of this cash. and that's what we did with all of the stimulus checks when you put that much cash into the economy. when you put a hold for a year and a half on people having to pay the rent, you're going to inject so much cash into the economy. that demand is going to spike . and when demand spikes necessarily, supply is going to have a hard time catching up. and that's when you at night inflation, you've got the fed with monetary policy going full guns in the background at the same time. and it was simply too much for the economy to handle it overheated very quickly. and now we have this 6.2 percent inflation on our hands the highest since 1990. that is indeed hurting the lowest income american earners. and i want to move on to the future of the fact here because this having these 3 high profile openings
5:42 am
to be filled by the, by the ministration actually point to him leaving a significant mark on the central bank for years to come. i think it does, i think that he's got, he's got a lot of important decisions to make choices to make obviously, little brainer has been on the hill campaigning very hard. but and by the way, rich clarity term is up at the end of january. so it seemed to be 4 positions. so there are a lot of crude crucial decisions to be made that can change the basic framework of the federal reserve. the question is though, given how contentious the situation is in the senate right now. and given the fact that we know that there are some moderate senators who are democrats, he's going to have to president, but he's going to have to be very careful and who he chooses, because they're also gonna have to be able to be confirmed. and that's what i think is a little bit more nuanced here. that's why vegas poles have, have power still at 77 percent. and little brain are only at 21 percent. as of
5:43 am
today, i just want to point out what danielle just said there. that's right. she said las vegas is handicapping the next parent bed chair. that is a bizarre but you know, i mean, i guess is like brain is really that much more progressive than say, a drone paul, is that what we're really looking at here? well i think in her prior speakers that she is advocated for certain things that j . powell really opposes. he's much more reticent about even in times of emergency situations, things like negative interest rate rates. he really would be, i think, more thoughtful and push the brakes on a central being digital currency. because j powell has been very both fit for us in saying that a central digital currency, unlike one perhaps that was rolled out in china. what has to be completely anonymous in the same way that the dollar bill in your wallet is and little brainer, i think, is viewed as being much more in the progressive side and wouldn't be using it as
5:44 am
a conduit, potentially. and this is what frightens democrats as a conduit to deliver socialism, universal basic income to all americans. and again, we've just seen what the results of that are. if you give americans cash, they're going to go out and spend it the risk as you're going to end up with a lot more inflation, which is exactly what we're seeing today. and, you know, i mean, i don't want to get you to political here, but do you see by and actually looking at this as, what's actually best for the country, what's best for the economy, or what look politically good to say back and elizabeth war and you know her pick towards that what, what are you seeing there, and how about 45 seconds left? look, elizabeth warren is definitely gaming for lael brainer. but again, i go back to the issue of whether or not brainer is can, can be confirmed by the senate. that is an if you proposition and as far as bite and he needs to make a good choice for the economy. the change is never welcome by the financial markets and changing away from power, i think would be
5:45 am
a very disruptive moment for the stock market. former fed insider daniel dean martino both thank you, as always for joining the show and lending clarity to the thank you. and twitter is taking a big step into the world of crypto currency and block chain technology. the social media giant announced on wednesday it had launched a team called twitter crypto, which will assist content creators in earning money or, and accepting crypto. now the big takeaway is that twitter wants to explore the use of the centralized apps that run on the block chain and not through the company's own servers. they hope this will give users more control over privacy and what they can actually post. it's unclear when anything will actually be rolled out and how many people will be involved with twitter crypto. twitter ceo jack dorsey's affinity for bitcoin has been well known. he even held that highly publicized discussion about the future of crypto currency with ellen musk back in july and time now for a quick break. but when we come back, is the speculation academy heading to a new level ribbon,
5:46 am
has mast expectations that the b startups. i p o is seeing a higher evaluation than major in the sector. like fort we'll discuss it as we go to break. here are the numbers that the quote, the me oh, well it shows the wrong one. i just don't move any world. yes. to shape out disdain, because the attitude and engagement equals the trail. when so
5:47 am
many find themselves worlds apart, we choose to look so common ground. we can now look into people's minds. read the question then is what kind of consequences we can take from this? i think you take the example flying, it would prevent us from lying. we wouldn't be able to lie anymore if everything becomes transparent, but what we're thinking, we're empowering ourselves to be more efficient or quicker with our transactions. we can make mobile payments from our stands. the truth is that every device is a potential entry point for security attack mitigation. i think you can, but i don't want to mention lee with because of the thing, but only eventually there's malware of that thousands. maybe sometimes millions
5:48 am
each day they use the cyber, they use the technology as an extension of traditional crime. artificial intelligence has not many main threat. this is due to the 3 laws of robotics. one of the things that is happening at the many cyber implants right now, i'd be where it really worried about it. most people would equally be you calling for a chip in my brain. so there has been a lot of progress from the hacker side using ai and using other advanced technologies. there has been on the defensive a welcome back, a couple of big stories, an electric vehicle stocks, maybe an automotive made its debut on the nasdaq wednesday as it share price search 20 by percent. and it's 1st day of training. shares originally priced at $78.00 that the night before the i p o,
5:49 am
but opened at $106.00 before stabilizing to close out the day. but thursday proved to be another stellar day for the amazon afford back to e. b start up as it saw shares pop as much 22 percent on the 2nd day of trading that put its overall evaluation over $100000000000.00 eclipsing auto heavy weights board in general motors. think about that. these companies have been around forever . but still well below the world's most valuable car company. tesla and speaking of catholic ceo ely must, has apparently made good on selling a large chunk of his tesla stock. financial filings released wednesday showed the world's richest man sold nearly $5000000000.00 worth of stock. musk of course, has been made a big show of selling of these stocks to pay taxes related to options that were coming due as he asked to twitter followers to vote on whether he should sell 10 percent of his holdings in. tesla should be noted, of course, that must still hold more than 166000000 shares in the company. joyce,
5:50 am
now discuss this in some other market related news. is michelle snider, she's a partner and director of training research and education at market gauge dot com. i was pleasure. michelle. i want to start with ruby and is this an overvalue ation here? i know they have an order for one 100000 delivery trucks from amazon for delivery in 2030 and they have a lot of momentum behind them. but is it really worth more than a company like ford, which actually delivered more than $4000000.00 cars last year? probably not, but let's take a look at the company itself. so 1st of all, it's been around since 2009. and so far they've only produced a few 100 cars. so it's definitely a lofty goal to think that they're going to be able to create that many cars. we look at something like ford in terms of your question as well as far as what's worth compared to ford for delivered 4000000 cars test for 2000000 cars. so i like the fact that it came up at a time when electric cars are just hot, hot, hot,
5:51 am
the fords. fox been going up along with general motors, but they're evaluating it. let's say 66 percent over what honda is worth for example. so there's a few things that they would have to do in order to really maintain the level of valuation, which was more like a $120000000000.00, adding what happened to the stock price today. number one is they would have to certainly be able to produce these cars and circumvent the, the chip shortages that were saying i love the fact that they're calling it the mini mean pass lar. but that means they also have to come up with 2 and a half times more than what tester is already promising to produce. and there's a tremendous amount of competition globally. we know tesla has really got that market locked down. everybody's jumping into the space. so you've got the m w volkswagen. besides the, you know, the honda companies and lucid and neo some of the newer companies. so i would say that right now, this pickup truck that is really out there as the end all be all probably at some
5:52 am
point. well, the whole thing will step back, it will get more realistic valuation in time. and what do you make of eli musk selling $5000000000.00 in stock? it was kind of assume that the whole twitter paul was just to show when he was going to do it anyway, right? yes, because of tax purposes, he has to, once he exercises options, he has to pay a big tax bill. now remember, test much does not get a salary from tesla, so this is the way he makes money. and so i love the, the p. r stands. i mean, he's known for that for many, many reasons. but really right now he only sold half of what he said he was going to sell. and we have a lot more stock that you mention of a 160000000 shares more with a lot of those options that don't come due until next august. so he's got time, we'll see what happens. but i like the fact that lisa use some transparency and gave people who are heavily longer talking opportunity to maybe to lock in some
5:53 am
profits as well. and it's interesting when you look at the 2 companies you're looking at, you know, any kind of startup that's getting their name out there, more going public versus tesla, which is obviously kind of the name behind it, like vehicles right now. and you go, you know, what are they going to have to do to grow? well, you know, you might need an, a lot to be able to grow because his personality is certainly get the name out there quite a bit. i want to hit on what we were talking about earlier in the show, which is inflation is their concern that this could lead to a correction in the market. as the fed start to wind down some of that easy monetary policies and prices continue to rise. what would be remiss to say there isn't a concern, but the question is, will it happen? and so what's really interesting is that i believe that the fed is really holding onto the notion of transitory inflation. and there's some signs out there that means that they could potentially be right. i personally don't think so, but if you're looking at it from the feds eyes look at the dollar, the us dollar has skyrocketed in the last couple of days. so if you're looking at
5:54 am
the dollar versus inflation generally, the, the conventional thinking is that the dollar is weak in the face of inflation said the dollars actually gotten stronger against the euro and some other currency. number 2 is, if you look at just where inflation has hit, you can make a case, the transitory i think that the fed is going to sit back on its laurel's right now . a long bonds in particular are still under performing the s b for 500. that's a big thing. but you gotta watch gold and silver here because if they really started going parabolic, i think that's when the federal golf. maybe we need to be a little bit more aggressive, but they have threading that needle right now, and that's where they're going to stay for the time being michelle snider of the market gauge group, always love have any on thank you so much. thank you. and finally, the latest space x rocket launch had a major milestone on wednesday evening. with the 600 the person to reach space on board, the crew dragon capsule blasted off on top of the falcon 9 rocket as the 4 person
5:55 am
crew had for the international space station replacing the team that return to earth on monday the crew 3 was initially supposed to watch on the 31st of october, but faith delays due to the weather and an undisclosed medical issue. now some of those who were actually out to enjoy the view of the launch throughout the eastern portion of the united states got a secondary show as a bright flash of light over pictures and videos, turning out to be a meteor that really stole the show. the national meteor society analyzed some footage and said it was likely was a part of an asteroid with a weight of $45.00 pounds in a diameter of about 10 inches. really cool stuff. when you see a lot of those videos and pictures that were out there, and that's it for this time, you can catch boom bus on demand on the portable tv app available on smartphones and tablets. you google play in the apple app store by searching portable tv, portable tv can also be downloaded on samsung, smart tv, and roku devices, or just go to portable dot tv. the next time i go,
5:56 am
but i want to make no certainly no borders and the number is emerged. we don't have authority, we don't, the whole world needs to take action and be ready. not a joke. people judge. 2 crisis we can do better, we should be better. everyone is contributing each in their own way, but we also know that this crisis will not go on forever. the challenge is great, the response has been massive. so many good people are helping us. it makes us feel
5:57 am
very proud that we're in it together. oh, is your media a reflection of reality? in a world transformed what will make you feel safe for isolation for community? are you going the right way or are you being led somewhere? direct. what is true? what is great? in the world corrupted, you need to descend a join us in the depths or remain in the shallows.
5:58 am
we're empowering ourselves to be more efficient, quicker with our transactions. but with that comes a trade off. every device is a potential entry point for security at any machine, depending on it's an extension of traditional time. the defenders have always been one step behind. the attackers with one comes option in the offering. it's not a matter of, if it happens, it's a matter of when who when i was sure seemed wrong when i just don't know. i mean you. yes to see how this thing becomes the advocate and engagement equals the trail. when so many find themselves worlds
5:59 am
apart, we choose to look for common ground. as a korea professional sport is much tougher on some than others. mission with the euro. my by everybody. so why would somebody believe me? i was just a little girl or 2 to to achieve really was was fall, change a read on the paper this morning, usa swimming coach, arrested leslie had sex with a 12 year old girl. this happens almost every way we get calls at the office. i get informed about one of my greatest fears is someone is gonna start linking all this together. and it's going to be a 60 minute documentary about youth coaches in sports like gymnastics swimming here, is that documentary?
6:00 am
i see it on our tea. ah, they saw the robert chicken better us in the a. you gets worse with men's now accusing poland, lithuania of using the migrant crisis to get more money from brussels. mit the build up of asylum seekers. all much better. russian polish folder mean taught autism. maria finacialow speaks, it's exclusive, this with the human traffic who takes migrants into western europe. we find out more about that shady business they don't get caught in germany, put. they put them down in the silent centers. and after a while to get permits because they flow the id cards so they can't be supported. as german authorities don't know where they come from. and another news, hundreds of care workers protest in london how to being told they're set to lose the jobs unless they get the coverage.


info Stream Only

Uploaded by TV Archive on