tv Boom Bust RT November 30, 2021 1:30am-2:00am EST
oh and live on a military base and be protected. it is the height of hypocrisy for him to live on a military base in comfort and security, not just for him, but. 2 also his family and then advocate for everyone else not to have any kind of public protection. shame on this guy. watching our scenes, national staffing company this morning, just gone 930 moscow. we're back again in 30 minutes with 100 mic. no, no borders line to tease and you as a merge, we don't have a terribly, we don't to look back seen the whole world leads to take action and be ready.
people are judgment, common crisis with 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 very proud that we are in it together with badges, financial survival guide. when customers go buy, you reduce the price didn't help. well, reduce a lower that's under cutting, but what's good for food market is not good for the global economy. with
the boot bought the one business show you care to coordinate bridge work and i marriage of lemons in washington coming after news of a new cove at 19 variant continues to take its toll on the market as trading has rebounded slightly following a brutal black friday straight ahead, we'll take a look at the latest concerns and what measures governments are taking to combat the spread of the virus. plus could have been or change your pipeline begin running . the ford is officially certified. that's the major question as germany calls on republicans in congress, not to approve new sanctions against the project for the scott and the rift between the european union in the united kingdom continue to deepen as the 2 remain at odds over fishing and trade right. later on we sit down with hillary ford, which for the latest got a lot to get to look into it. we lead the program with
a slight rebound for markets here in the united states following friday's sell off in response to news of i'm across the latest coping 19 various. now all 3 major indices fell over 2 percent on friday with the dow falling more than $900.00 points to markets worst day since october of 2020 oil prices also saw their worst day since april of 20. 20 has fears over the impact of the variant, coupled with the lack of liquidity amid increased demand surrounding the holiday weekend took a toll. now the binding ministration announced it would ban travel from south africa where the variant was 1st report as well as 7 other nations in southern africa. the news send the travel industry into a panic. and while the world health organization says the latest very, it presents a very high global risk. it also criticize the u. s. for immediately turning to a travel man, while president biden didn't address that criticism. when he spoke on monday,
he did refer to situation as a cause for concern, not a cause for panic. and he urged americans to get back to needed saying he is working with pharmaceutical companies here in the u. s. to be ready to respond. we do not yet believe that additional measures will be needed, but so that we are prepared if needed. my team is already working with officials at pfizer, amber darn, and johnson and johnson. to develop contingency plans for vaccines or boosters if needed. and i also direct the f t a the cdc to use the fastest processed available without cutting any corners for safety to get such back siege approved and on the market if needed. handwriting us out of this gas, our ben lucko host, christy i, and octavia mirandi, theo of ottoman. i'll see octavio, let's start with you here. i know we saw significant reaction from markets on friday, but somewhat of a rebound here in the us today. how are investors seeing the news of another new
coven variant? i think the small money's looking at this and saying that it could end up actually being very beneficial for markets. the big played mark has been the federal reserve in the european central bank, basically saying that gonna be tapering that bond purchases of its coming year 2 years. and slowly drawing those down. this might give those 2 big central banks to excuse they need to best step back into the market and say, we're no good with withdrawal. that support will get a karen buying bones going to continue the path we own before. and that will be very, very beneficial. to market cause there's a risk then that this is a very bad, very up to know very bad. and lisa was, was a shot down to look. doesn't think that so, but it is just right. not too big, not too small. and right in the middle of those, it could actually be very, very beneficial for marcus if it delays this tapering down of purchases by the due to being central banks. and christy, as we said there in the opening, the oil industry also took ahead and made concerns of more widespread travel band that could lead to more locked out. how much of an impact is that news having right
now? all rebounded on monday, briefly touching above $77.00 a barrel as investors kind of view the slump, as we said, a buy opportunity right now. it is a little bit overdone, and speculators are saying that we lack the data about this new variant. and if this is very and proves vaccine resistant or more contagious that other variants, then it could impact travel, commerce and actual demand for oil. so as of monday we have the bt, i up almost $3.00 after tumbling over $10.00 on friday. so prices haven't sounded quite fully yet. and speculators who are bottom fishing are doing so cautiously in case more data comes out with more cause for concern. opec plus said that they are not worried about the micron variant, but they are monitoring the situation very closely. and they will meet on december 2nd to discuss whether to proceed with a scheduled january increase in oil outputs or not. but as of now, they have currently postpone technical meetings this week in order to gain time to
assess on my guns impact. so friday slide was the biggest one day drop since april of 2020 reflecting fears that additional travel bands will be put in place. and while many countries have now restricted travel in 2 areas, in regions and south africa, japan was actually the 1st to officially close its borders to any non citizens which includes international students, short term residence, or people visiting family. so all of this is going to be weighing down on oil. and now october, obviously you said like the hope here is that this could be a short term issue. and if so, that you know, could be beneficial even as central banks kind of adjust. but what could this do if it does spread world wide? are we concerned that these lock downs and more travel bands could hurt the recovery that we've seen so much of why did the launch as well? definitely the recovery in there i'm. i meant to join you this evening from, from australia and vienna. we were sitting in the midst of a big lockdown. everything shut down it. basically what went for our lockdown is going on the moment. and it looks like that's going to spread. i mean,
germany now as had his highest case load ever in terms of probate and i'll be coming, i think is going to push over the edge and we're going to see locked else coming there in a matter of days, weeks the most pretty days when the c, jeremy shut down in some way of france and italy, of seeing the numbers increase rapidly this still it runs below level, but they sort of steep, it's like a wall going up that the numbers. so that is really what we're facing. learn so the locked downs a definite coming in europe, the going to come hard christy. point out so the low crowns of travel bands and g. those are things up spreading rapidly at the u. s. so far has been fairly unscathed through this and i think that might come in the coming weeks though. so yes, we're going to see more towns and they're going to everybody negative impact on travel and also some of the business as well. now we know that some of the central banks may be happy about that, especially if they're not ready to taper just yet, but it does create a lot of concern. now kristi, i also want to bring crypto currencies into this because they were included and
that saw that we saw last week. so what do you make of the speculation surrounding bitcoin right now? and what's your response to those who say that it's not really an inflation head because of the fluctuations we have seen that move along with the stock market. i would say that just because something is an inflation hedge does not mean that it won't have volatility because those 2 are completely different things. they coin has fluctuations and volatility, and we'll move with the market. so it's not a hedge against markets by any means. when we talk about inflation, we're talking about the cpi, which is a basket meant to reflect purchase is made by the average consumer, such as food energy, other services. and over the last 2 months, prices for these items have risen drastically with energy rising 30 percent. which means that the average consumer is going to experience inflation and an erosion of buying power because wages are paid in dollars. and that dollar will be buy a lot less of that basket than 2 months ago. so that's what big coin now comes in because of the last 2 months, actually the last decade,
one big quiet will buy you more of that basket them before because bitcoin is not tied to any one currency and it is truly borderless. so in times of high inflation, one must take more risk to offset the decline, an existing asset values. so 3 percent dividend yield that may normally supplement income in retirement. but if inflation is 6 percent is just simply not good enough anymore. so that doesn't mean big coin is an invincible and can only go in one direction up. no, it's will still have all affility. but over time it has proven that it will keep pace and output inflation. but all in all the coin is more so a hedge to feel regimes, like we said on like the u. s. d or the pound that no longer has any intrinsic value. because intrinsic value is just going to grow and strengthen over time with his decentralized nature, it's sponge ability and it's network upgrades that continues to add to the assets value. and as we continue to go through inflation locked down, all of that. we've continued to watch, curved or currencies grow much. christie, i,
and octavia, maria, the optimist. i'll see thank you both for your time and insight. the ongoing saga of the north stream to pipeline between russia and germany may have just taken a new twist. there are reports of the pipeline might begin operation without certification on november 16th despite the north $32.00 pipeline being completed and ready to begin operation, the german regulator decided to suspend the certification procedure. now, according to a german newspaper operation of pipelines without certification has happened in the past when pipelines will put into operation before they were officially certified. specifically the any l and e g l for a one projects joining us now discusses boom, but co host investigative journalist ban swan now ben, this is kind of an interesting scenario here. the north trip to pipeline in theory could begin operating without government certification. tell us about that. yeah, absolutely. could it's, as you mentioned, it's happened a couple of times before the bottom line here is that the idea of certification is
when you are essentially putting gas natural gas and oil through a pipeline with government certification and approval. if you don't, you just pay a fine. in fact, the fine for doing this, according to the newspaper, is about 1000000 euro. that's how much gas problem, which is the, the operator of that pipeline. the russian state oil company would actually have to pay about $1000000.00 euros, which the whole project is about $10000000.00 euros. and when you also consider the fact that the price of gas right now, the cost of gas across europe and how expensive it is, it basically if you do the math gas from comes out ahead by going ahead and running natural gas and oil through that pipeline and just pain that $1000000.00 euro 5. wow, and i know, even though this is a pipeline between germany and russia, the united states always finds a way to get involved. and even though we saw that deal between germany in the us now the german government is calling on members of the us congress, not to sanction the north stream to pipeline,
shooting down concerns that the russian gasoline will threaten ukrainian security. what do we know about those new calls for sanctions? yeah, what's interesting about this is coming from a couple of different senators, including ted cruz of texas. the idea here is very simple, which is that the u. s. wants to sanction, not only gas problem, not only do they want to sanction the russians for this pipeline, but they want to sanction anyone in germany who assists in the pipeline, including those who would be part of the certification process. so if you ask the question, why is certification not taking place when europe is in this enormous energy crisis right now? the cost of oil and natural gas is through the roof, as we know in europe is causing the enormous hardships, especially as winter is now approaching, and people there need this energy. why hasn't been approved. and the reason the certification has not taken place is because there are threats from united states that they will punish through sanctions, any entity or individual who helps in that certification process. that is what's going forward here. so what the germans are saying is, hey, wait a minute,
us back off. we don't need you to do this at the u. s. is doing it because they say, oh, it's going to hurt ukraine. we've heard this story before going ultimately hurt ukraine . if this takes place, because ukrainians need the money that will come from the pipelines that run across their land from russia. and this is being bypass that what germany is saying is there's no reason to believe that it's going to hurt ukraine and that we need to have our own solidarity and, and essentially national sovereignty. when it comes to this issue, the russians want to do it. we want to do it, stay out of it with your sanction. right. and i mean, the germans are basically that this certification delay is mostly due to the bureaucratic red tape where they have to incorporate inside of germany to do so. and the us been increasingly involved in this situation, obviously they, they, at one point kind of gave their blessing for germany to go ahead and get the guy from russia. but the cremeans kind of saying, hey, the us should not be involved in this process. what are we hearing? yeah, the, the kremlin saying the same, the germans are saying, which is that this is a deal between russia and germany. and why does the united states have any part in
this at all? and i listen, that's a very fair question. why does the united states have any saying this at all? it's, it's not as if the russians are forcing anyone to buy their oil and natural gas. there is a world market we talk on the show all the time about market to market demand. there's an incredible market demand right now for this oil and natural gas, it can get faster and cheaper to germany and the rest of europe running through the north stream to pipeline. i know the united states, the claim is a, it's going to hurt ukraine. but the bottom line is, is that we are imposing ourselves into a situation that has nothing to do with us. and essentially threatening all the actors involved saying, we don't want you to do this. meanwhile, the u. s. is trying to actually go specifically to some of these countries and asking for a strategic oil reserves to be released instead of allowing russia to continue to pump the, the oil through nordstrom to. so it's very interesting. kremlin says stay out, german say stay out, you know, i think most thinking people would say stay under this or, and it just seems like chaos all around at this point. now when we talk about the
timing, i know there has been a lot of focus on the fact that germany was looking at a federal election. now we know that we had this new coalition government in germany and it's getting a lot of pressure to reverse course on north stream to does is create more problems for the pipeline, getting up and running, getting certified. we've got about 30 seconds left. i think it could, you know, poland is one of the latest countries to come out and basically say that the new government should reverse course and not certify. and in this relationship with russia over the pipeline. and again, they're doing it for the same reasons. talking about ukraine and money for ukraine . i think what we're going to see though, as, as, as high as gas prices are now and the need, as i mentioned as winter approaches. germany is not really in a position to negotiate a whole lot here. they need this oil, the rest of europe needs the oil and the natural gas that will come to this pipeline. and the russians want to do it. so at the end of the day, the, the belief that ukraine will be destroyed by this, i'd remind you that the russian president has already said they're not going to stop paying money, the ukraine, they'll continue to do that. the idea ukraine will be destroyed. i think is
a false one, but either way, they need the oil, it'll probably happen. and boom bus spend swan thank you so much. and now to a major announcement from tech billionaire jack dorsey the go founder of twitter says he is stepping down from his role as a company ceo after really 16 years. he of course, to the platform to make the announcement saying he believes it is time for twitter to move on from its founders. now twitters current chief technology officer will be taking over as the new theo sparking concern. we could see an increase in tech censorship, given his pass comments about the need for twitter to focus less on thinking about free speech and more on thinking about how the times have changed. for dorsey's departure, he has long been torn between his roles as c. e. o both twitter and square even saying the 2 companies are like the children. he never had a bit sad there from jack. but dorothy also hated that he may 1 day leave both
companies all together because during an interview at the big queen 2021 conference in june, he said if i were not at square or twitter, i'd be working on bitcoin. if it needed more help than square and twitter, i'd leave them both for bitcoin. wow. as a big statement and you know, it's interesting. i've been reading a lot of course on twitter today. a lot of people are kind of upset about him stepping away because they really like doors. he's viewed when it comes to bitcoin, when it comes to more of a decentralized nature and their concern when it comes to, you know, those big c, e o them in the theo of twitter is a big job. well, you know, we've talked about this on the show before, but the fact that it was kind of unprecedented for jack dorsey to be the ceo of 2 major publicly traded companies. so i feel like this was a long time coming. i know one side was going to be happy, read brittany square or it's twitter and i feel like, you know, for his love for bitcoin could probably work more crypto curts if he stays at square than on twitter. absolutely. someone who says that they're like his own kids, he got up any day and time now for a quick break. when we come back to,
can you drop the english channel as the e u and the united kingdom remain at oz over trade brace and weight of the reps at divorce. and as we get to break, here are the numbers at the clothes shoes . there is no pinnacle of evolution. everything's flat about terry is a product to 4000000000 years of evolution in a specific environment. so a week. so in that sense where we are, the few survivors are then develop a long, long process you. so as in to the springs at yellowstone, we will not do very well. we'll do much better in that sense.
a number of issues drive the 2 sides further apart on friday, the french fishing crews blocked french ports and ferry traffic on the english channel and their latest protest over post split fishing licenses, french fishermen are taking issue with the british government for not granting more licenses to fish in british waters and with the european union for not doing enough to address the situation in a timely manner. meanwhile, tensions between u. k prime minister boris johnson and french president emmanuel cro, reached a had the same day as mc chrome took issue with johnson tweeting a public letter following the thinking of a boat filled with migrants crossing the english channel which left 27 people dead . now, during a news conference while at rome, the french president urged his british counterpart to take the issue more seriously . just critique i spoke 2 days ago with the prime minister, johnson in a serious manner on my end. but i think to continue doing as i do with any country in any head of state, i'm surprised by methods when they are not clear, if you don't communicate from a leader to another, on these matters,
going to be tweets and letters that you are making public or not, we're not whistleblowers. come on, come on. i didn't and for more on this, let's bring and hillary for which board member with the british american business association. hillary always a pleasure to have you on, i guess, you know, when we start with kind of the migrant cases and these latest comments from a chromebook in response to a letter from boris johnson. i mean, how much does this strain put on the relationship as we also are looking at this poster break that agreements about fisheries? there's a great strain and i actually, i'm pressure to be back with you again, britain and rachel. i would defer to thomas so who said, you know, we always misunderstand about politicians that the number one and number 2 concerns on how to get elected and how to get reelected. macaroni has a reelection coming up a re election campaign, and when in doubt with regard to the french or maybe any political leader, always look to defer and deflect. right. so let's on blaze. let's deflect to them. so obviously he needs to blame external things. he's looking to deflect any
problems on the british and with regard to that terrible crisis, the migrant crisis. so the u. k is paying the french $54000000.00 pounds on top of the additional $103000000.00 pounds. they're already paying to help beef up the security and the checks the border on the french side. they're actually paying to help us. what's not happening is the migrants are being the migrants are being released. the smugglers are not being arrested and surprise, surprise. they show up the next day. so here you have macro deflecting blaming the british. meanwhile, that not arresting them and then not stopping any of these migrants crossing ago. you have a crisis like this, with these deaths in the channel, and that exacerbate whole situation. and it's unfortunate how often politics really do play a role and all of this. absolutely. when it comes to this block that we're talking about, we know that these fishermen aren't leaving the you in france out of the equation basically saying they aren't doing enough to protect their livelihood. what say you
on that one? will the livelihood? yes, i mean, 1st of all, the french waters are over fish, right, 90 percent of all of the haddock that they fish in the waters of cornwall. they are now fishing up to 6 miles off the u. k. coast. so 98 percent of all the licenses that have been applied for have been fulfilled. those remaining, many of those trans fishermen have said what we've been fishing in those water for decades. but by aren't able to get the licenses. why not? because they're not able to prove it because they don't have the paperwork. why don't they have the paperwork? because they were fishing illegally? now it's just 2 percent. so you have to say that if you wanted to fish in those waters, you should have done it legally. in the 1st place, and then you wouldn't be in this predicament. i think the problem is that you're going to really face is going towards 2026 when those fishermen that are allowed to fish. now a lot of that is going to be repeal this isn't going to get better. this is going to get worse over time. speaking of situations that continue to seem to get worse,
i'll come back to anything. we will have hillary audit situation, but also, you know, in the pros, post divorce that we've been talking so much about obviously been, or their own private protocols becomes a big issue. there's more talks ongoing and there's talk about that article 16 will at least won't be triggered before the new year, not the focus. so what are we looking at these border checks and these custom checks that we're seeing as far as northern ireland going, how are they going to affect things into the holiday season? are we going to see that christmas without turkey or. busy had some of that been come pull back a little bit, some of it has to pull back and it is right now. it's what i would consider border check light. because a lot of those checks have not gone into full effect, which won't be until after the new year. but in terms of the cold christmas holiday season. and one of the things, one of the issues actually that's come up is actually christmas crackers. something that's a particularly a u k issue, which is when you pull them apart at the christmas davis, not so much an american issue, but those in the u. k. will know what we're talking about that has become some of
a somewhat of an issue. i think tokyo is going to be ok bought. there have been a lot of the e. u workers being given licenses to come into the u. k. because pigs in a blanket, a lot of the bacon that's needed over the christmas holiday season. the pigs are having to be slaughtered in the bones because you don't have an advert twice. you don't have the amount of work that are needed. so you've had a lot of those work as being allowed in, particularly for the season. exactly, to your point. so you'll be able to have turkey on the table for christmas throughout the u. k. i will have more of that in the coming weeks. i'm sure hillary forage of the british america been so station. thank you so much. and finally, the n f t crazy may finally be hitting a breaking point movie theater chain amc and sony pictures are partnering up to offer 86000 non fungible tokens to members of their elite programs who pre order tickets for spider man. no way homes opening night on the 16th of december. now
this shit and come as a shock after amc has embraced accepting crypto currency in recent months and the company c, e o. adam aaron took the twitter to announce the promotion, saying, quote, this idea came from you. adding that there will be more than $100.00 unique spiderman and f t 's available, designed by animators at cub studios. now. tickets officially went on sale on monday morning and you know, it's interesting because when we're talking about 86000 entities, does it kind of take away from the whole point of being? absolutely, i think so, because when you're talking about something that's collectible now, this is just jug sometimes as somebody who collects things, sometimes you just get out junk. got loaded on you when there's 86000 of them to anybody who pre orders a ticket. in my opinion, that's just junk. absolutely. and that's it for this time. you can get both on demand on the portable tv app available on smartphones and tablets, or google play in the apple app store by searching portable tv. also check out portable dot tv and we will see you next time
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the postal service deliver is a $155000000000.00 pieces of mail every year. approximately 40 percent of the world's mail right now the us postal service is in the fight of its life history. that is really bad financial shape. now facing default, the postal service is a cash cow, and there was a way to pull money out of the postal service to put into a federal budget. there was a mandate that you're bringing a $100000.00, new revenue every month. the nature of privatization in the us postal service is very much hidden from public view. it's privatization from the inside out. that's a big business in money. it's not about the public and given them a service that they deserve. it's not about quality train workers. it's about the
money in the headlines this our signs, his rush to adapt cobit vaccines to tackle the latest strain of the virus with the omicron very enforcing countries to re impose tough restrictions. many of us might think we're done. we called it 92. it's not done with us also to come as a backlash in australia over the country's new social media laws that could use a day to hand to day with the authorities. although some say it's a clamp time on that privacy. the same sets of rules used by a states no, mostly malicious model. this is not about containing free speech issues about releasing pre spinster speech from the powers.
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