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tv   Boom Bust  RT  November 30, 2021 7:30pm-8:01pm EST

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really, we need to re launch the country. i think the others won't have the courage to do it yourself. that's why today we see that despite our differences, we all have the same problem in our daily lives. that is why we're all gather today to say no to this divisiveness, the country, they call them a racist, but it's not true. he's no more racist than i am. i'm of lebanese origin, and i'm here and i've integrated, well, yes. now many have also describes him more as bull intellectual, donald trump, and he has had a popular right in the polls so far. at one point, even before declaring his candidacy poles showed that he could make a 2nd cut to the round of voting, that will determine he's president and not to shaken up many on the political scene, which is very traditional. hey, i seen it still isn't quite shaken as to who will be on the ballot paper next year . current president michael and still haven't officially throw his hat in the ring
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. while the republicans who all that traditional party of the right are still to choose their candidates, the more enjoying things like marine the pen socialist, paris, ne, any dell go and the left wing firebrand john mc medicine. i see eyes the top job in france. does it for me? i will be back in 29 minutes with another look at your new students or to international blue from supporters and conservative media, spare no energy. dallas democrats are going to bar there to the left. is that really true? let majority of all voters say they support universal, pre take free community college and low drug prices. so is going to far left really about the culture wars mm. with
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the boone bus. the one business show you care the board, the met, bridge a board, and i'm rachel lemons in washington coming at oil prices are thinking as the on the crime variant theory and infected markets across the globe. straight ahead will discuss the movement in the sector. this tend, or the novel strain has been found even more nations as it is spread beyond this, south african origin will bring you the latest figures with an expert in the field and australia cracked out on social media is taking a new turn as the nation has propose a lot of combat online for all. got a lot to get to look go. and we leave the program with another brutal day for markets with the dow dropping as much as 700 points. now the reverse, from monday's rebound comes as experts assess the latest coven 19 variant, and how to respond to it. while federal reserve chairman j,
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paola and treasury secretary genet, jaelyn also testified before congress on tuesday. how sparked a sharp reaction from investors after he told the senate banking committee, that there is a chance that bed will speed up its plan to taper bond purchases by more than $15000000000.00 per month in the months to come. but at this point, the economy is very strong and inflationary pressures are high. and the, therefore, appropriate in my view to consider wrapping up the paper of our asset purchases, which we actually announced and to november meeting perhaps a few months sooner. and i expect that we will discuss that at our upcoming meeting in a couple of weeks, of course, between now and then we will see another labor market report, another inflation report. and we'll also get a better sense of, of the new the new coven variant as well before that, before we make that decision. now, meanwhile, the oil industry has also taken a hit both west texas intermediate. and brent crude features saw drop a 4 percent on tuesday that mark their worst monthly decline since march 20. 20
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countless questions remain as to how the world will react to the new variance and whether it will lead to major locked down. so we'll have a significant impact on both demand and the ongoing recovery journey. discuss the latest is david towel, president, approaching capital. david, it's great to have you on the show today. now, what is your take on the drop that we're seeing in oil prices? i mean, comparing it to march 2020 raises a lot of concerns. right? certainly if it's going to mirror the severity of march 2020, and certainly there should be cause for major concern. on the other hand, it seems like the hama kron variant is not going to be as co. and as people may have feared, it may spread widely, and therefore may lead to some, i'd say speed bump in, in what has been going on in the economy. and in terms of inflation and let's get back inflation in a minute or 2. but i think that, you know, therefore this,
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this debt is going to be short lived. i think that there's going to be a little bit of pullback in terms of travel and allowance for that. and you know, it'll have a little bit of an impact on trade because of that. but at the end of that, i think this is just something that we're gonna have to go ahead and get used to that. we're going to see the variance pop up every once awhile. same way that there are different strings of the flu. every winter, i am not a medical practitioner nor am i a scientist. but at this point, that's what i'd say. you know, the, the reporting has let us to believe. well, and it seemed like, you know, in the recent months as demand was actually picking up and oil prices were rising, which gave way to rise in gas prices. here in the united states. it seems like people were begging for some sort of a proven oil prices. and that is kind of what we got, but this is the theme under the circumstances that they want to correct. oh absolutely. i think that the. busy the more important substantive story that's
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going to take over very quickly from this, you know, reprieve is going to be the release of the, the petroleum reserves in the united states, which is not going to make a dent that all biden's continue to call for opec nations. go ahead and increase production. they now have actually a great reason to go ahead and not change their production at all. and we will, we will then quickly shift into what i think is an alarming concern by politicians and by regulators in this country regarding inflationary pressures. right, and i know we've talked a lot about inflation, a lot about those rising prices and even with the latest concerns about demand, there are still predictions out there that oil is headed for $100.00 a barrel. and j. p. morgan is even predicting $150.00 per barrel by 2023. so
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how much influences opec plus have here and good? we see oil prices getting to that point. i think 150 is a big number. and certainly if you believe that is cost for a retail rebalancing of a portfolio overall, but in terms of, you know, triple digit prices. and there being a real issue between opec and those nations around the world that are very reliant on oil. it is a very, it's going to be an increasingly important issue. it will be increasingly tense. and to echo some words out of some investors that were made a couple weeks ago. you know, the, the, the, the possibility for social unrest that may come from a seizure in these markets is certainly
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a possibility. i certainly don't think that there is anyone that hoping that we get there. but this is, we're at a critical juncture. and rachel, it's important to point out this problem is not going away. this is another 5 to 10 year problem, right? we're not going to get to the maximum demand for oil, for a while now. until really we can go ahead and, and fully rely on renewables and begin to watch, you know, that peak demand in the rear view mirror. so we as a country of chosen to limit oil production, we're going to be increasingly reliant on other nations for their oil. and so therefore there is going to be cause for concern regarding a prices and therefore inflationary pressures. but also political tension as well. and david, i know, you know, obviously we were talking about oil here, but you mentioned it several times about the inflation as a whole here that we are seeing in the united states. obviously, as we talked about there in the intro, jap, how and treasury secretary yellen?
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both were on the hill today, talking about inflation, talking about the response to cobra, 1900 and all of that. i mean, what do you make of, you know, as we look at inflation as a whole, now, you know, how was actually backing up and saying, hey, when i said it was transitory, we kind of have to retire that language. what do you make of that? they're frightened, they, they certainly are. this is a big political issue. we're going into an election cycle and you know, in 2 years that is going to be really important. it could very well be driven at the top is the highest of lines by pricing on everything. i mean there. busy are no workers, we certainly so people, our companies are bidding other companies for their workers. so paying higher and higher prices, housing has gone to the moon in some cities, even rentals have gone crazy. and even in the city is that you think like new york
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city where you know, the, the argument is maybe if there is concern about variance of cov id. you know, most people are not going to want to be in the city and we're seeing, you know, housing prices, rentals go up 30 percent. you know, and it's just, it's, it's super fine at this point. and i don't think that there's any way to go ahead and slow this down and with the supply chain break down and you know, who knows when that's going to go ahead and get fully resolved. there's going to be additional pressure because of supply constraints. yeah, certainly a lot of daycare and it's interesting to see power. finally catching up with the rest of us on realizing that inflation isn't transitory david tell approaching capital. thank you so much for your time and insight. thank you everybody. and as the alma kron varian has rattled global markets in recent days,
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the head of the biotech for madonna is now predicting that current cobit vaccines will be less effective at dealing with the new strain of the virus. but there are no ceo stephane bands will hold the financial times. quote, there is no world where the effectiveness is the same level we of what we had with the delta variance. adding that while vaccine makers are still waiting for the opportunity to analyze the latest data with the rapid spread of the variant in south africa, scientists are telling him that this is not going to be good. now, in response to the latest very being detected in a number of countries across the globe, the world health organization described the risk level as being very high and urged member states to speed up vaccination in high priority groups. as we have mentioned on this show, some countries including the united states, have enacted international travel restriction, in hopes of stopping the spread of this latest variant. so we wanted to get a little more information on, on the crime. and to do so, let's bring in doctor william chapter a vaccine specialist with vanderbilt university medical center. always
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a pleasure to have you on doctor shafter i want to start with the very here. what do we know at this point? do health officials really know how bad this could be? of brent we don't really know. we know that this virus in the laboratory has a whole string of mutations. some of these mutations suggest that this virus is going to be very transmissible, at least as transmissible, as delta, if you can imagine, and maybe even more so than there are some other mutations that suggest it can evade the protection, at least in part of our current vaccines, that's probably question number one on most people's minds. it will take us a couple of 3 weeks to get fuller answers to those questions. but that's why the w h o has labeled it a, a variant of concern, not just a variant of interest. now dr. schaffner,
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i know that we had this comment for the ceo of modernity. got a very big reaction from the markets. but is it alarming q considering we really don't have all of the data on this new barian? yeah, i don't like to make vaccine policy by press release, but certainly i think we need more data to securely defined the characteristics of this virus. and remember, i haven't heard anybody else say, oh, neither has the has, has the ceo of the madonna say that it will. our vaccines will be completely ineffective. there's going to be some reduction. but partial protection is always better than no protection at all. and let's remember, take a deep breath. what's out there now in every community in the united states, is not up our coven mutant here, but is actually delta the virus against which our vaccines do work. and we have
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such a large proportion of our population still on vaccinated adults, children, and many who need the booster. so as we think about all micron, let's protect ourselves against delta now. and we think those high levels of anybody achieved through vaccination actually will help us get protected against oma crump and, and artist after i know, i feel like every time we have you on i, i apologize for having to do that. those every single time it feels like it's this, this is going to be the new normal. we're going to be in this position where we're going to be wearing masks every where we go. we're going to have to social distance . we're always going to have to get boosters. i mean, when the we have a new variate that seems to cause so much alarm. i mean, is there any light at the end of the tunnel? will the light at the end of the tunnel? i think is somewhat distant, you know, every variant that's come here has started over there. it started somewhere else in
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the world and is only a plane right away. so as we think about controlling the pandemic, it's not just in the united states, it's around the world. we have 2 reasons for that. our humanitarian reason, of course, we want of spare as many deaths around the world as possible, but also self interest. we want to suppress this virus around the world, so that new variance don't arise and then come here. we're going to have to live with cove it. henceforth, we live with flu. we can live with cove, it there likely will be periodic boosters. and yes, from time to time, the masks will go on and social distancing will occur, particularly among the older persons, and anybody with underlying illness, who's fragile more susceptible to severe disease. now, when it comes to really the broad handling of the sand and mc overall, it was pointed out last week that according to johns hopkins university,
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death from coven 19 in the us. this year had actually surpassed the number of deaths in 2020, even with the vaccination push. how do they see that this is happened? well, it happened because of one word, delta. all of a sudden delta came up on the scene in the middle of the summer and out ran all of those other variants that were out there. and because of it's contagious, it's simply reached more people got down into young adults down into children also . and so it actually had a very comprehensive effect. now how serious this over cron variant is that remains to be determined, but we have protection against delta and we have not optimally utilized it. 60000000 adults still haven't received dose one. i don't get it,
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but i'm just the country doctor. it escapes me. if it escaped doctor william shafter that must escape me as well. doctors after of the vanderbilt medical center . thank you so much for your insight as always and kind of talking. it's off of the clip if you can. thanks so much. and i'm now for a quick break, the only come back australia saga with social media could soon see another turn as told are now in the spotlight. and as we go to break, here are the numbers at the clothes with when you allow for the bankers at the time to loot and that they've been doing. and their business model is to keep $0.90 of every dollar they steal. they pay
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a small fine that will trickle down trickle down, looting, and every hour, 13 years later and has become, as you say, in san francisco, really common for gangs to loot storms. but let's be honest. they are simply mimicking the bankers like jamie diamond and others who have made that hub, glorified looting and glorified stealing and glorified money printing. because there is no pinnacle of evolution, everything's flat. a bacteria is the product to 4000000000 years of evolution. in a specific environment, so away. so in that sense, when we are lucky survivors at the end of a long, long process you so as in to the springs at yellowstone, we will not do very well. bacteria will do much better in that sense.
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this update on being a little dominant up but they did a high middle not a knuckle. but my love bob again thought, no, well i'm going up there a bit a well, i mean happy lation strobe with who welcome back australia is taking on online trolls with new legislation that will soon be introduced. that legislation will also take
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a look at the extent of responsibility for big tech platforms such as twitter and facebook for defamatory material published on their site. or you may remember that australia's, as court has already ruled that publishers can be held liable for public comments on online forums. a ruling that has caused some news companies like cnn to deny australians access to their facebook page. now about these proposed new laws, prime minister scott morrison has stated, quote, the online world should not be a wild west, where boston biggest control than others are anonymously going around and can harm people. so what will this new set of laws attempt to actually accomplish? let's bring it back. so it's an investigative journalist bend for a while to try to explain at least ben, how are these new laws going to impact online commenting, which we know so many people really rely on to get all their frustration of what they do, rely on it and listen it's kind of interesting because this law,
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which obviously we don't know the text of it because it hasn't been officially released yet. seems so far to be extremely vague. we're not exactly sure what this consists of. so here's how it would work. if someone posts something online, especially in a common section that is deemed to be defamatory in some way, right? the person about whom it's written has a right to approach that social media company, whether it be facebook, twitter, and then requested that content be removed. and under this law, facebook and twitter would have to comply because someone feels or being the thing that doesn't require necessarily or explain, i should say what the level of proof of defamation is. instead, if someone just feels this way, it appears of the social media company would have to take it down. what's also interesting about this is that if the company does not take it down, then there's a legal court process under which the person who feels are being the same, would be able to have the identity of whoever wrote this information revealed. and that's another thing we don't know about how much data is released with that. what
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kind of information goes into that? none of that's been spelled out so far. and so because of that, the whole thing, things kind of a work in progress would be a nice way of saying it. yeah, definitely more questions and answers there. and also course questions about what is defined as a troll. i mean, they use kind of that broad term, but at the same time, it also makes you wonder, could that just be someone who was being critical of what you posted. and then there's also the question of the fact that when it comes to this new proposed law, how does this impact the high court ruling we just mentioned? we're a new publisher is also considered the publisher of defamatory comments on their post. yeah, well that's, that's one of the big questions, right? because of the fact that the high court in australia has already ruled and said, look, if you post on cnn's, you know, a story and post a comment that defend someone in berry c. and is responsible for that, right? because they allowed you to post it. and they are now publishing your comment as you mentioned and lead up here. so seen and now says, well,
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we just don't allow australians to post on common on here because we're not going to take the fall for what somebody else said. that's the natural business response to this kind of a law. what's interesting about this new one though, is we don't really know how this would play out other than to say that social media companies. it kind of kills their business. if people can't talk about other people, what does it mean to feign them? right? but defamation is a very specific legal term. the way defamation works is it requires that you are making a statement knowingly false about someone else. that's the 1st part, and that you have the power to actually cause harm to them. so just the average person saying something about someone else does not necessarily have the power to change anything or to, to affect them. and that was the last thing i'd say about that is what's interesting is this law doesn't seem to necessarily include those who do have power . so for instance, facebook fact checkers when they say that a journalist or somebody is not telling the truth, is that considered defamation,
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where they have to amass to those fact checkers are, or this only apply to the average person who's posting. again, don't know the answer to that question because you have to wonder how far this goes . because if i go and post on a ben swan post and i say, you know, he's not as handsome as he thinks he is. i just wonder, is that a me that defaming been or is it just a lot? yes boom. but both right. and the question is, are you harming me in some ways? interesting that got more than the prime minister use the term of the can't be the wild west where people are, you know, going around these. he called them big it said boss going around and harming the question is, what is the does harm and that's again a legal term. what is the harm that is done when brings your voice says, i know i'm better looking at the internet. agree that doesn't necessarily harm me, maybe my ego, but is it actually hard my life? no, it doesn't actually harm. i know a little bit. it would boom bus been so much. all right. and finally, long before i'm a crown was the latest varian of colbert 19. it was just another letter in the
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greek alphabet, and it was also the name of the crypto currency has the right all of the publicity sent the token on quite the roller coaster. this week it was worth just $65.00 on thursday, then shot up to $688.00 on monday morning before then falling 75 percent. so joining us now to discuss the latest it's christy i. now, christy, what do we know about this crypto currency? yeah, we know it's just a fact that it was a complete flute that the crypto 1st had the name on the crown was rather obscure or cryptic currency when the twitter feed had a little more than a 1000 active followers. now the cut the currency, which is picker o m, i see that that the centralized treasury back crypto currency protocol and according to coin market cap, it started trading on november 8th without a traditional ice t o or idea or any pre sale. and the point of this crypto is to eventually function as a global unit of account, a medium of exchange currency. and it was actually
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a for off of the olympic on the arbitrage network. and the team is primarily anonymous like most or decentralized atomic bodies these days. and obviously, christie, the google searches for the word out of crime. we're skyrocketing over the last few days as this, all this news broke. so how does that actually translate into interest into a crypto currency? well, the same thing actually happened with ave, a few months back that we talked about all day is one of the top 50 criptos. but interesting sort of very suddenly, one day because the hash tag was trending on twitter. and because the crypto markets are now like the equity markets in that there are a lot of bots and argos that pick up on these keywords and hash tags on twitter and google read it. but unfortunately, these bots are not that smart and cannot differentiate the context of these hashtags. so in always case, that hash i was trying to on twitter because it's stood for african american vernacular, english and people were talking about that. but the pods interpreted, ave decline. and then went and started buying spree and pumping the coin up,
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thinking that there was high interest and bullish sentiment behind that name. and now the very same things seem to have happened to o. m i c. and i'm very sure some savvy traders jumped onto the mean as soon as they saw a lot of the bots mistakenly pick up on that name. so usually the owners of these are their quick to realize their mistake and they reversed that trade. but in, on my case, retail mean traders started adding fuel to the fire, and the rally lasted more than a few days before, eventually crushing back down. so interest really died because literally no one knew what they were trading. they didn't know what omi called the crypto does and what its function is, who built it. there's actually no literature even published about it. so it was literally a mean that flew up because the boss picked it up by accident. christie, i'm sorry to yes or no. you hear because i know you're very savvy crypto enthusiast analyst. the question is, did you know about this before today? unfortunately, no. you learned about it with all of this is the most alert thing ever
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like with coin is we will keep falling this from the see where it goes because the i thank you so much for your time. thank you, and that's it for the time you get blue bus dog man on the portable tv app available at smartphones, the tablet google play, the apple app store by searching portable tv. portable tv can also be downloaded on samsung, smart tvs, and roku devices, or simply check affordable dot tv will see you next time . ah o service delivers a $155000000000.00 pieces of mail every year. approximately 40 percent of the
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world's mail right now the us postal service is in the fight of its life history. and that is reduction 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. why 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 trade work. there, it's about a month with a,
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with a high school shooting in michigan, 3 students are dead and 8 people injured. a 15 year old is under arrest. questions over the new coverage strain to origin. as dutch health officials say, alma crohn was detected in the netherlands before it was reported in south africa. we speak to a w h, o representative in russia about how dangerous this new strain could be. you don't have a logical knowledge. it's telling us that this is a more deadly virus. there is no place for planning, but there is place for preparedness, proportion, and action. we will be forced to create similar sites as a reaction to those who threaten us in this way. and we can do it now because we have successfully tested a hypersonic missile. president putin says that russia has developed
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a powerful new hypersonic missile.

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