Skip to main content

We're fighting for the future of our library in court. Show your support now!

tv   Boom Bust  RT  December 16, 2021 8:30pm-9:01pm EST

8:30 pm
that was how speaker nancy pelosi, defending the members of congress, who by unself dock wall in office straight ahead, we'll discuss it a bit. you're running the controversial practice and the washer and was, are showing no signs of slowing down as a back up and seeing it on auto sales in the industry at large. later on, we get an insider's perspective on what lies over the horizon for global car sales . we had a lot to get to go. we leave the program with the world 1st major central bank to raise interest rates since the pandemic began. in somewhat of a surprise moved the bank of england confirmed on thursday that it would move forward with its plans to raise rates from point one percent to point 25 percent. now governor andrew bailey. acknowledge that the decision comes as the spread of the i'm a crowd very. it begins to affect the economy with retailers already feeling that impact. in fact, the cages broke its own daily record after registering more than 88000 new coven cases on thursday. up from the previous record of over 78000 case on wednesday. now,
8:31 pm
governor bailey noted that while there are concerns about demand, there are also concerns about skyrocketing inflation. as the rise in annual price is a 10 year high in november, he said the move to start raising interest rates was in an effort to get that inflation as banks around the world continue to increase their predictions for next year. that's also the case for the european central bank, which admitted that inflation will be well above its 2 percent target. however, while it is pulling back on some pandemic aid, it declined to raise raise just yet. and we've all been waiting to see how markets will react to the federal reserves announcement that it will speed up as paper and consider multiple interest rate heights next year. but that negative reaction, some are expecting, has yet to happen. so joining us not just all the way this is michelle snyder, partner and director of training research and education for the market gauge group . michelle, it's great to have you on the show today. so what do you make of the reaction we've seen from market so far?
8:32 pm
i mean, not only do the markets not fall in response to the fed on wednesday, but they actually came close to record high. well, come in, close is like almost surviving the operations. so even though we're still, i think in surgery right now, there's still a lot of, i think people trying to figure out exactly what all of this means. basically, it looks like what power said yesterday, even though we talked about the speed of the paper and he talked about to raise the rates 2 times the dot plot actually show 3 times. he didn't mention that it seems to me that it really. ringback looks like he still believes that inflation is transitory. and if you look through the notes, you really can see now that he's talking about basically a 2.6 p c rate that will go down to 2 percent in 2023. so that's personal consumption expenditures, that's transitory in his mind. i think the market didn't necessarily believe it
8:33 pm
today, and that's why we saw finally some movement in the precious metals. and really we attempted to new hi, but we've come off and these sectors that can really following are showing no signs of strength here. retailed small caps in particular. and so i think that's kind of right now. we're still in the digest mode and we're definitely in the fog in terms of exactly what central bank policy will be if they have to get more hawkish, will they? and to that point, we've heard so much about the possibility of a taper tantrum as they call it. investors may have built up trust that chairman power will communicate before he takes action, but is there is still concern. as central banks continue to admit that their forecasts for the next year were to a certain extent, wrong, even though as you just mentioned, power really isn't admitting he's wrong. you're just saying it's separate to the longer temporary than we thought before. will certainly, if he does anything to surprise the market, but he's in a really difficult spot right now because of exactly what we saw on the market
8:34 pm
action today. 24 hours after the announcement, the market is back to the reality of g. although in this case we also didn't see the growth stocks lead like they've been classical leading lately. so right now, yes. so if we could potentially still see somewhat of a take potential if the policy changes, but i don't see that happening right now. so i think that the whole market, even though england showed some leadership in terms of raising the rates i, you know, we're looking at, he's talking about a 2 and a half percent rate. maybe at the end of 2023. if we go into any more inflation, which certainly looks like we will, he's either going to have to get super aggressive and then totally destroy the economy in the market, or sit back and just let the inflation get out of control. and it seems like they've kind of sat back in land place and get out of control a little bit as we're getting to this point. now, when it does come to those rising prices, there has been a lot of talk about the inflation hedges. people are turning to and of course
8:35 pm
whether crypto currencies like bitcoin or a trustworthy choice. now it comes as no surprise that major central banks would be against this. but what do you make of the bank of england specifically telling investors that a bit coin could become corner quote, worthless. what we've heard so much rhetoric from central banks from governments. i believe story that russia is going to bankrupt currencies or get the think forges on. so obviously you can't control the crypto currency space. that's the whole point. what we've also learned is that a big coin is speculative and ours have exposure to what the team does. so yesterday or in the last several days when the market crash, so big coin when the market started to rally. so did big coin as today when the market started to roll over, started bitcoin. the question is, at what point does that actually separate? and that's different than block chain technology by the way, which looks like that here to stay. so i think that right now,
8:36 pm
worthless would be maybe central banks renewal, but certainly not going to be ality. right. and i mean, for one we could see anything could become work but a, an equity, a currency, any of this can be. so that's a warning, but it's a reality for almost every investment that you might be making at this time. now, as we talked about there, we've kind of record high after record high and markets this is pandemic. we can't . what happens if that record kind of comes to an end soon? what is the average investor looking at there? we have about 30 seconds for you. well, i think basically what we're already seeing is a lot of movement into the defensive plays like utilities, for example. and consumer staples and you say, you may see more of that. this is we'll have to look for places that are new interest pricing power. in other words, they don't have to pass on higher cost to consumers. things that people need and believe it or not, precious metals, which have been so dorman, could actually finally pick up. yeah,
8:37 pm
it'll certainly be interesting to see where that all goes. and if we end up getting some sort of tape or tantrum along the way, michelle snyder of the market age group. thank you so much for your time and insight. happy holidays to you. and there has been increasing scrutiny surrounding members of congress and federal reserve officials who buy and sell shares of individual companies while they are setting monetary policy or say, receiving confidential briefings at the beginning of a global pandemic. but how speaker nancy pelosi defended the practice, claiming the u. s. has a free market economy. now, i don't know to the 2nd one any that we have a responsibility to report in the staff, but i don't. i'm not familiar with that 5 month review, but people aren't reporting, they should be. this is the market and we are free market economy. they should be able to participate in that and figure pelosi was referring there to the stop
8:38 pm
trading and congressional knowledge act passed in 2012, which required members of congress to disclose their transactions. but there has recently been a growing movement championed by democrats sen, elizabeth war, and representative alexandria kathy of cartel k. cortez, which aims to ban congress from trading individual stocks altogether. the jody is not discussed is our good friend and 2, but co hosts. chris, the i, i do find it humorous there that essentially nancy pelosi christie a say. i didn't even see that report that says that i think it was like 19 to 30 of her colleagues are trading stock. she is the speaker of the house as well as over a 100 members of their team. so i think that's a bizarre statement for her to say she didn't even see the report. but what the latest in this movement to staff, members of congress and fed officials from trading, even though they're required to report their trade, has that made any difference? definitely not. and as you said,
8:39 pm
it would be funny. but it's really not how hypocritical these federal officials are going after all their financial kind when they themselves are engaging conflicts of interest. but i guess that's why the politicians, the original o g, a con man. so is small, far and insider investigation of financial disclosure is found that $49.00 members of congress and at least a $182.00 members of the highest peak capital hill, stafford, were late in filing the stock trades during the 20202021 period so being late requires a fine, but there's actually been no public records existing that indicates whether or not these officials even have these fines. so already you see a pattern or lack of transparency, lack of accountability, and also how congress sets a lower standard for itself on financial conflicts of interest, manage then on other concerns. so under the stock act, lawmakers and senior doctors who earn at least $132000.00
8:40 pm
a year in 2021 must report stock trades of more than a $1000.00 within 30 days of the transaction or 45 days. if it's a family member, and now obviously all of these trades and probably more went on, accounted for. so now a number of government groups have called for a ban on only stocks or mandating that members of congress put their financial holdings in a blind trust while they're in office. and this will at least limit the potential for benefiting from information that they obtain an individual companies which is just pure insider trading. so last year you had a bunch of stock bills made by senator richard for jim in hall. kelly lawson or dianne feinstein and when they made the document in advance coleman lockdown plunge, you also had centered or ran top purchasing shares of drug companies. juliet in 2020, at the clinical trials again for room does appear the clearly all of those were instances of insider trading. and yet all of the pros and without or more charges being filed. wow, that is crazy when you think about it. and of course,
8:41 pm
when you compare it to what the average american go through, if they were doing the exact same thing. now why do you think we've seen such pushback against the movement to ban leaders in congress and in the fed from participating? and what you noted there is essentially insider trading is just one of those cases where they know that they're the ones making the rules. and so they don't want to add any additional ones for themselves. of course, of course you see which time because this will basically take a portion of their earnings away, you're cutting into their personal interest. so of course that's why you have a huge pushback. politicians don't care about you or me or the community when it really comes down to it. they only care about themselves and what benefits. so of course they aren't going to support a movement that threatens de themselves financially and previously pull off. we have quite enjoyed her privileges and insider knowledge back in april of this year . pelosi huston was using coal options to buy means like microsoft ahead of
8:42 pm
lucrative government contracts. now these rules have benefited her up until now. so it's just hilarious to me that now we're hearing low see who just 2 months ago was really about how capitalism has not served us well and needs improving. and all of a sudden, a big bold advocate for free market economics. basically, all it took was potentially taking away her husband's doctrine privileges. just a few months ago, she was called to say, you cannot have a system more success of some spring from the exploitation of workers. so now she's doing a complete 180, and she wants this free market exploiting the insider knowledge that she will absolutely. kristi. i mean, she refers to that free market economy. she's all of a sudden, a free market capitals, but actually to be fair, knowing a lot of people, oh theater is 3. i would say that she probably does believe it that way. but the fact is, i mean, these are law makers who are setting policy, they could put in a antitrust investigation or break up
8:43 pm
a company where we know we don't see that very often. but they could do that at their will. and they know all of that information yet can make trade just like this . i what do you make of this? i mean, i give you the final thought, i guess here, and i have about 30 seconds for you. christy. i'm sorry. all the final thought is that right now we aren't in a free market. it's basically all wig by the inside of the policy makers and the people trading favorites for deals and information to really think that it's a free market. it's an illusion. we're simply the most free, our market was one of the least corrupt and let the big one compared to the other options. but by no means is that a perfect free market, like how it was meant to be because policy makers and regulators have now made sure of it. so rule the rule of reporting trade for 3045 days after the fact that the complete job because compared to corporate insider, they have to wait a 121 days, 3 months before they can execute trade, after establishing or modifying
8:44 pm
a plan to purchase or sell shares, you even have complete lack of peers at the end of this worth that company info cannot trade compared to the $3045.00 days restriction. that's a complete show. but once again, this is just, i believe it's another catalyst for the rights of crypto because right now that's the truth free market as a stan boomer it's christy. i thank you so much. thank you. and the front page of the internet is planning to go. public rad. it said on wednesday it is filed and i p with the fcc. this comes after the company and now it's back in august, but it raised a $700000000.00 round at evaluation of over $10000000000.00. now earlier this year read, it also became known for its wall street bats sub read it on which thousands of users came together to throw their support behind copies like game stop and m c, which then cost hedge fund, the billions of dollars and losses. now red at both more than 52000000 daily active
8:45 pm
users and more than 100000 communities. for now it's still remains to be seen how many shares read it will offer and what the price range will be. but for now, the biggest question remains, will the renters who made the mean stock craze happen also, but on read it? you know, this is fascinating to see them now coming out going public and it makes you wonder how it's going to affect those wall street pages. and the people that talk on you do have to wonder, will read it stock go to the moon or they're going to be diamond hands in the same way. because registers are known for being passionate about this site. because as they say it's a democratization of the internet. oh, absolutely. well, we'll be here to cover all of it as it happens time. now very good for that auto sales slump in the us and around the globe. i supply chain backups weigh heavy on the industry. we'll discuss just on the other side. and as we go to break, here's a number got the quote, the ah
8:46 pm
ah ah, should be noted in the us, going up at the same time and other current around the world falling and entering into my place starting collapse. that's my design to us by supporting bankrupt companies like brooks can buy supporting stock buybacks across like warren buffett, they arg driving that we're all to global. com, which is unconscionable because you know, just because bill gates wants to make a few more $1000000.00, we're going to go to war with the rest of the world. it's so sad, but this is america today to silent of acknowledge has never been so readily available to everyone across the globe, but overwhelmed by information. can we distinguish the real science from the one
8:47 pm
being imposed upon us? we're living in a world where there are many people who have a vested interest in finding information, finding scientific evidence, and discredited. even the notion that science could provide the truth about the natural world in the pursuit of business goals. launch corporations, a challenge strongly by scientific evidence if you are emotionally invested and free markets, them climate change is a serious emotional threat because dealing with that means we have to change our approach to business industries or on the war bar, attempting to debunk legitimate science by producing the evidence in science, writing science, that's how ignorant is manufactured their attention only seeking to the rail science rolling using science itself. oh right now there are 2000000000 people who are overweight or
8:48 pm
obese. it's profitable to sell food that he's fatty and sugary and salty and addicted. it's not at the individual level, it's not individual willpower. and if we go on believing that will never change this obesity epidemic, that industry has been influencing very deeply. the medical and scientific establish a loom ah, lose
8:49 pm
the welcome back as supply chain issues related to the global. so mike inductor shorted, continue to affect the auto industry. here in the us retail numbers for november, which were reported on wednesday, reviewed the car sales, dropped slightly due to the supply chain issues after growing by nearly 2 percent in october. meanwhile, analytics from just markets predict total auto sales for 2021 worldwide will hit just shy of $80000000.00 vehicle sold an increase of 2.9 percent from 2020 and project and sales for 2022 will be up 3.7 percent, claiming the semiconductor supply chain will remain challenge throughout the year.
8:50 pm
a globally production of new vehicles is expect to slightly improved throughout the next year with an increase of 9 percent. let's go ahead and take a look at the outlook for the industry and some of the biggest storage and auto news with our good friend with the car coach. lauren facts. always a pleasure to have you all more. and what do you see as the outlook? what do you see as the outlook for the industry moving forward as we hear these very reports on when this ship crisis may come to and what's the take away from all of it? well, i've been talking to a lot of executives in the last few weeks or actually in person. so it's been great to get some real feedback. the chip shorter just impacting everybody equally, not one brand and saying, you know, we can get them but they can. so it does equalize the industry as far as like not one brand being able to have an advantage over another. however, every brand is trying to come up with a solution. ford is working with general motors. honey and key are working together and you're starting to watch a lot of groups together. and at the same time,
8:51 pm
they're going to do what's being called going vertical. so going vertical means they're going to control the supply chain of these boards, these chips. and i'm actually waiting for a vehicle myself and there's a control module missing and it has micro check. so there's something you really do at this point. it's just part of the whole process. so vehicles are taking substantially longer to get from production to consumer. and this is not going to end until probably the end of $22.00. i've heard longer than them i'm. we should been done by this, by now, and it's america. we talked about the c u i. and we thought, and we thought it would be done by now, but remember, there's a lot of plants opening here in the u. s. and that takes 3 years from inception to actually delivering the 1st chip. while we know that, especially when we're talking about these issues, they all seem to take so much time in order to be resolved. now when we look at where the auto sector is globally, with these projections, it looks like 2022 will still be off the pace the nearly 90000000 vehicles sold in
8:52 pm
2019 before the pandemic was a man continues to outpaced apply. so how much of a strain on the sector overall is it's a huge strain on the sector as well as all the sub suppliers. i mean people typically think of the manufacturers themselves, but think about from tires to battery suppliers and so forth. and now we've got a shortage of another product that just got notified to the industry and that's a graphite. and you would think graph like an a pencil, but no, this is graphite which is being used in batteries. and if there's a shortage of supply, of course, all of these mines are owned by china. this is going to put a restriction on electric vehicles in the delivery of those as well. and laura and i have, this is kind of a broad question. so i apologize, a but you know, when we talk about all the shortages and especially when it comes to the microwave, does that kind of stifle innovation to is they can't really move forward and start to get into their next phase of what might be the next hot thing in the auto industry. right, and next top thing is adding more safety features that lead to autonomy. mercedes
8:53 pm
benz is the 1st manufacturer to get approval for level 3 autonomy, which is more of that lane centering while driving where you can take your hands off the wheel. i've recently tested that on the mercedes benz the e q. s, as well as the n g q s, and we see what, what the technology is coming up with 52 inch screens. we're seeing huge screens and that's heavier, less except it requires more chess. so we're going to, that's going to be the only limitation to moving to that next step and adding more safety and adding more technology and connectivity. now when it does come to that push to add more technology and even that push to go electric, we've seen that a lot of companies are investing the money. they know that they're going to get there eventually. now with the likes of toyota, one of the world's largest automakers pushing to invest $70000000000.00 in fees with plans to sell $3500000.00 electric cars in 2030. there's all kinds, of course, as the vine administration is pushing for the transition. even setting aside
8:54 pm
$5000000000.00 to establish $500000.00 charging stations across the country is all of this movement actually going to push toward adoption in the near future? maybe? well, it's funny you asked that question because i'm constantly bringing the attention of reality to this. you can put as much money as you want into this. putting in $500000000000.00 is great. putting in all these charging stations across the country is great, but still there has to be adoption from consumers. number one, and of course, purchasing these vehicles means they cost more, the insurance costs more. and then the charge time, which is still an issue for a lot of people recently drove the i 100 a ionic 5, which is one of the products that they've been promoting. it's actually a final is for north american car the year. and what's interesting is it has $800.00 volt charging base, so that means it will charge. you'll get about 80 percent and 18 minutes, which is probably one of the fast. and some of them are portia tide can, which is certainly a different price range. so you're starting to see that transition that people want
8:55 pm
the faster charging. so any manufacturer that's still going with the $200.00 full charging platform, the kilowatt platform, that's the one that we're not going to be able to catch up. you're gonna find people spending the money, but they want that quick charge. we're an impatient society as they say. but what's interesting is we push forward. we still can only produce so many electric cars. consumers have to buy an, even if there was a demand where we all had to buy them. we still have a lot of other issues with the infrastructure being able to support it. and it's going to take a lot more than what the binding administration is talking about putting into this because you need to have so many more charging stations in order for this to happen . and there's a problem in california with this right now, where there's not enough charging stations and too many cars and people are actually fighting like actually screaming at each other and fighting for connections to their vehicles because they've no way to get places. so we don't want this to happen and so that would definitely be a detriment to the push forward on electric vehicle. absolutely. in california for those outside of the united states, has probably the most charging stages of anywhere in the united states. what you
8:56 pm
hear, that they are really all to be on the road as well. laura picks the car coach, thank you so much for taking all this down. 4th. thank you. and finally, one of the most played video games of all time has hit a major milestone on youtube videos featuring block building game. i guess that's the way i'll describe it. minecraft has hit a one trillion views on streaming, on the streaming platform. the 1st game to ever do so now if you have children or even know manchild, maybe like myself, you've seen someone in growth did a minecraft tutorial, or someone actually showing off their epic bill. now minecraft was originally developed by marcus notch person back in 2009, and was officially released by his swedish company, mo yang studios. and it can be played on nearly every platform available, including console and mobile devices. the game has been extremely popular over the last decade, having sold more than 200000000 copies, despite not having a particularly clear objective. it's so popular that microsoft bought annoying
8:57 pm
studios back in 2014 for a whopping $2500000000.00. and that, that for the time you get, boom, boom bus demand on the portable tv app, which you should update on the google play store and the apple app store by searching portable tv. we'll see you next. me. ah, scientific knowledge has never been so readily available to everyone across the globe, but overwhelmed by information. can we distinguish the real science from the one being imposed upon us? we're living in a world where there are many people who have a vested interest in fighting information, fighting, trying to get evidence, and discrediting even the notion that science could provide the truth about the natural world in the pursuit of business goals. launch corporations, a challenge strongly by scientific evidence if you are emotionally invested and free markets. them climate change is
8:58 pm
a serious emotional threat because dealing with it means we have to change our approach to business industries or on the war boss attempting to debunk legitimate science by producing new evidence in science, fighting science. that's how ignorant says manufactured their attention only seeking to the rail via this rolling. using shy against that shell. in terms of security and defense, europe stance at a crossroads should outdated cold war era structures be maintained like nato in over reliance on the u. s. court, and should europe define and shoulder responsibilities for its own defense? and what about russia? mm. a
8:59 pm
little he and happy. hey. i know you said i had at bay but does not allow them to get the outside and by then coffee for sure. and i believe by then is a shift the a 1st amendment for 4th month of month. so it almost it was if you had been moved to pope multiple and ginger mac, i connect to. so that gives you how was the road, but we shall z o m a z n a from today law who can help with what? i can, the it's a button and how it man a
9:00 pm
philosophy on it this year. how and it comes in the say do or what a i was with i can now maybe maybe i'm not even, ah, the you leaders join nato and promising tough sanctions against russia and a quote high price for any escalation of tensions. and the break away don bass region of eastern ukraine. cnn fires a producer after he's charged with sexually abusing children. questions are now being asked as to why it took 18 months for the police to make an arrest. after a criminal complaint was filed last year. a new study finds that divisions in u. s. society could be reaching
9:01 pm
a tipping point with sociologists concluding republicans and democrats may.


info Stream Only

Uploaded by TV Archive on