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tv   Boom Bust  RT  December 23, 2021 3:30am-4:01am EST

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for when you listen to a sequence of tone and you think acts is going to happen, you know, why happen said distinctive bringing responses and gauge that are relevant to you, how we experience, reward and pleasure. well, listening to some people looking at this as a kind of a kind of choreographing of our expectation. mm hm. and so it begins 2 weeks of our christmas and new year's, the specials, in which we look back in the year. that was and parents in the future with some of our roster of amazing guests, all her docs, thinkers, that would be caught dead on breakdown finance, corporate media, 1st up, james howard con certain things
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. and this is, boom, bought the one business show you care to coordinate some bridge board. and i'm rachel blevins in washington. coming up the ged growth in the us for the 3rd quarter was the revised up. has the pandemic recovery continued straight ahead. we'll discuss the figures with the professor, richard wolf, and former twitter. theo jack dorsey has spoken out against the us dollar, as he now says that there coin more place beyond currency will break down his bold predictions for the premier crypto currency. it's $1.00 is point to be a blockbuster year at the box office or the silver screen is ready for a come back. later on, we speak with an expert in the sector about what lives over the horizon. we've got a lot to get to look it started and we lead the program with a little bit of good news. the united states congress department reports that the u
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. s. academy actually grew more in the 3rd quarter of this year than previously reported growth for the quarter. actually hit 2.3 percent with consumer spending leading the way coupled with businesses, gaining more inventory than expected in the face of ongoing supply chain shortages . but it was still a significant flow down from the 1st half of the year where growth hits 6.7 percent in the 2nd quarter. it's also raising questions about whether the us will be able to hit the prediction 7.3 percent growth from oxford economics. this quarter, as skyrocketing, inflation continues to take a toll and the economy. and what will the future of the world's largest economy actually look like? we have talked about how the pandemic has changed the workforce in this country, sending more than 3000000 americans and early retirement, prompting a record 4400000 americans to quit their jobs in september alone. as they found ways to be their own boss. and also leading many to find new ways to work from home, even as a country reopen. but the pandemic also had another major impact in 2021. the u. s
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. population grew at its slowest rate on record. it grew by just point one percent or less than $400000.00 americans marking the 1st time growth fell below $1000000.00 since 1937. so what does it all mean and how are the changes we've seen this year already impacting the u. s. economy? well, joining us out of the professor, richard wolf posted the economic update, and author of the thickness is the system. now, professor, what do you make of the news that the u. s. population grew added. slow was rate on record. and how does that impact the future of this country? well, i find it stunning. you know, we, in economics and in the allied field of demography, we are very interested in understanding population shifts. it takes a lot of factors to bring and population growth. busy down virtually to 0 because
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that's what we have. and it's almost always a mixture of multiple. and i'm sorry to have to say this negative factors. i mean young people are choosing not to get pregnant, not to have children. it's too expensive, which is the answer. a huge number give it's too uncertain. many give that answer. it's not clear whether they can afford an education for their children, which they know is now necessary. you're putting together a network of forces that are leading people to make one of the most important decisions you can ever make. not just for you as a family, but for the society as a whole. this is a warning shot. people better take really care about what we're doing as a society and an economy, because we're being told by our young folks that this is a society into which they don't want to bring another generation. and that's
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a very powerful statement. absolutely, a professor. well, but it all comes, of course, amid the coven 19 pandemic, which, beyond just the idea of a pandemic that you killed millions of people worldwide. it also brings up the issues of what we saw surrounding that. but to one of your point that you made this bill back better plan the spending package from the white house here in the united states, which now appears it's not going to pass. and this included provisions such as expanded child tax credits coverage for child care costs and expansion of the affordable care act. all of those things which would kind of alleviate some of at least the costs, the burden that we talk about so much. so what is the impact of that legislation? not being successful when it comes to this discussion, i'm afraid it's going to make everything worse. it, it makes the affordability a question. more serious, more unanswered, much of the rebuilding of, than a safety net in this country would have been a message to young people that there is the support. you know, it is an irony,
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we put pressure on people to have children, but we don't take care of them or that enabled people to take care of them in an adequate way. and that one to punch is going to be made worse by the failure of the build that better. and that's a different question from whether you like all of its components or not, doing nothing doing very little, which is next to nothing is a very poor answer to the crisis we face. we've never had before. and i've said this on the program before. we've never had a depression economically together with a horrific public health disaster. we've had one of the other, but never the 2 together. that demands a massive response. but what we've just seen is the collapse of the republican and democratic parties unable even to bring
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a modest response to this crisis, let alone one that will be adequate. and the population number is an index of that . now are certainly thing that impact playing out right now. now i want to head on another point you mention, which is that many americans choose not to start families because of the sheer cost of it. all. i know this is something that i and a number of people in my same situation are going through where you're looking at the fact that you have your career that you're pursuing. and then you also have those options to start a family and you see it in many cases it feels like one or the other. so why do you think we're not seeing more concern from the government overall surrounding a trend that is now shaping the future in this country? yes, i'm frankly, a little bit surprised by it. i would have thought that it would have been a made to order argument for biden, for the democrats to get more support going to the mass of the american people, speaking as you just did. rachel, about this dilemma that is shaping our future as
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a society might have generated the movement in people's minds in the streets, in the cities, in the newspapers of oz country to get behind one or another version, but not to simply stand there and decide to do less and less with each passing month. this is a statement, again of a society unable to cope with some of the most basic issues that measure how good any economic system is. and professor, well, i mean, i know, you know, we're not looking at numbers from throughout the world, but do we see, do you anticipate that this is a trend that we are going to see throughout the rest of the world? or is this a specific american popular american problem, or if that's what you actually want to consider it? well, i think we have a problem here and to be honest, if you look at the safety net, for example, in european countries, western european countries, it is a much more developed safety net going to college in germany. the vast majority of
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people go to their super public colleges and universities, whether tuition is 0 with a school fees are 0, all you pay for as your room and board that takes an enormous burden off of a young couple. thinking about having a child, a child or 2, and wanting to know that those children can go to a university, you get some in france, you get a subsidy, you have more than one child. the government gives you a subsidy to help you take care of that child's needs for the 1st 18 years of the child's life. i mean, we don't even think in our society about the level of supports that are taken for granted in most european countries. and i think will leave their young people to make very different decisions. now we've got about 30 seconds left here, but i know that this year was special. and the fact that we saw that number drop as low as it did, is this a trend that you see continuing in the years to come?
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i'm afraid so i don't see the action taken. i don't see the developments that would lead me to expect that to be different. my fear is that when you put together the fact we're not having children and our hostility to immigrants, we've cut off the 2 ways that our society can sustain its population. and if it starts to go down, what we've already seen about labor shortages will get much worse. certainly, we've been paying attention to all of the shortages this year and we will as we go along, professor richard will thank you so much for your time and insight. my pleasure. thank you. and former twitter c e o jack dorsey is now stirring up some controversy on the platform after he said that he believes bitcoin will replace the u. s. dollar in the future. now, notably, he was responding to a question from rapper carney be about crypto currencies. and interestingly, dorsey who is the ceo of block formerly square, has invested heavily in bitcoin,
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with his company owning over $8000.00, which is worth about $390000000.00 per dorsey also made a comment about web 3 not being the centralized and gave a warning that it's centralized and controlled by venture capital firms. joining us now to break all of this down to the co host, a crypto analyst been swap that i want to start with. dorsey's comments there about bitcoin, replacing the dollar. obviously with them i made a quick one to 3 or 3 words sentence and response the contrary, but it does raise a good question. is he right? he's not. i don't think he's right in the car to be his listening. i'm sure she watches the show all the time. i don't listen to jack dorothy and about anything about crypto. like jack dorothy hated bitcoin for a long time. certainly he decided he loves bitcoin when he secretly bought a whole bunch. and then he's done the same thing by the way, with a lot of block chain projects where he's bought a lot of block chain domains quietly and then comes in big on it. so here's the
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thing about what he said. look, the likelihood that big coin will replace the dollar is very, very low. and the reason for that is because the u. s. is at some point going to release its own digital currency. just as other nations around the world will release. there's the u. s. is never going to without bitcoin, as it's, as it's legal, tender, it's not going to make bitcoin a competitor to the u. s. dollar. it would be insane to do that. there's no reason to do that. now that doesn't mean that big coin won't have an incredible value that supersedes the us dollar. that i believe is true, but that's not what he's saying. he saying that it will replace the dollar. and i don't think that will happen. as haley was interesting to see those comments made there on twitter. now another comment that dorsey name was he, he claimed that web 3 is not what people think it is and that it is actually centralized and controlled by v c firms. what do we know about that? yes, so this is a, the more interesting part i thought of the conversation. okay, so the big coin part aside. he essentially is attacking web 3 saying web 3 is not centralized. now, for those who don't know what web 3 is, by the way,
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it's not the met averse right? it's a totally different system. so we've heard a lot about met averse lately. web 3 is essentially a d centralized form of the internet. that in the future is supposed to replace the internet, the currently exists by expanding our capabilities that do not exist right now, especially in the areas of data. so for instance, when we talk about data, companies like analysts dos them out here. facebook or twitter love to be able to take all of your data, they store it, they keep it, and they monetize that. they sell it right under web 3. that's not the way that the internet would work. instead, all data is, is available. it's publicly available because on the block chain, remember the blocking is a trust less system, which means that everything is made public though you might not know who the identities of the people are. right? so there's, there's an anonymous aspect to it, but there's also a very public transparent, an aspect to it. that's the concept of web 3. and there are a lot of projects that are being built on web 3 right now headed into the future to
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say that they're being controlled by the see firms i think is disingenuous. i think what he's trying to say there is that because the see firms are the ones who are funding a lot of these projects, they're controlling them and therefore they're centralized. and that, and i think is, is not true. i think what's really happening is that jack dorsey probably wants greater control over web 3 and doesn't like the idea of actual decentralization which web 3 willing comp. of course, it does seem like you have to have some sort of money behind it to get it off the ground, and that's where in children valley's vcs, especially come from. now. meanwhile, been noted for future is former president, donald trump is warning of god by crypto saying that it's very dangerous and we know that when it comes to new things, trump is generally there to embrace them. so what is his reasoning behind this latest statement? yeah, it's kind of interesting. he was talking about about crypto currency as a whole saying that he thinks that it's bad for the system. he wants one currency and that's the dollar. he's very pro dollar, he was when he was president. he certainly remains that way. i think, you know,
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just like jack dorsey don't take advice on currencies from donald trump either. and i think the reason for that is very simple. donald trump likes things that he can control. jack dorsey likes things he can control. that's what happens when you become a billionaire. and so for the rest of us who say, well, we don't want to be controlled by a few people. let's break away from these corrupt systems. i think that's, that's really the issue here. so this is trump's, as he loves the u. s. dollar, and he wants that to be the one currency and everyone's in on the dollar. but let's, let's face it, the dollar is increasingly worth less, and it's been completely degraded. and how do you fix that? if, if trump, where do we king for a day, again, what would he be able to do to actually change the value of the dollar? and the answer is nothing because the system of the dollar is corrupt as play, boom bus been swan. thank you so much break it all of these stories down for us today. thanks guys. and time now for a quick rank only come back. the movie industry is that you take off in 2022, far out pacing 2021 straight on the other side will bring you the latest forecast.
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and as we go to break, here are the numbers at the close. ah, with i was diagnosed with cancer in 2009 when the doctors told me the cancer was incurable. i knew i had to make a change. so i decided to travel to one of the most toxic places in america. florida went to florida. biggest industries and best kept secrets is in the biggest layer is $85000000000.00 industry. is mosaic, and i there are reports of millions of gallons of contaminated water now flowing into the florida aqua for my brother. there's a chronic. oh, well, you know,
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i don't want to hear that word poets me, but that's what it is. i'm in 2013 my uncle, our family dog. my brother was 21 years old, myself in my father. we're all a 100. wow. yeah. all right, and the good play, right? yeah, yeah. maybe they'll actually learned that help is more important in ah, in the
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welcome mag. since the onset of the global cobra, 1900 pandemic, many business sectors throughout the world have struggled to return to pre panoramic levels. now the film industry falls into that category. as global box office sales for 2020 fell more than 70 percent from record numbers in 2019. dropping from over $42000000000.00 to just $12400000000.00. now as economy as attempted to reopen pre alma kron, people are heading back to movie theaters. but according to london base and gower street analytics worldwide movies are expected to rake in between $19000000000.00 and $21000000000.20. a far cry from pre pandemic numbers, but there could be some light at the end of this tunnel for the film industry. as gower street is pro jack thing that global box obviously is going to hit more than $33000000000.00 in 2022. and if the previous weekend is any indication,
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the latest picture in the marble cinematic universe, spider man no way home may $601000000.00 globally, and it's opening, we can, that's the 3rd largest worldwide box office ever. and it kind of happened as the crowd buried. it's rearing its ugly head. now all eyes are set on whether it will hit a $1000000000.00. if the very it doesn't throw a wrench into the works. so what is the outlook for the movie business? heading into 2020 to discuss we're going to join, bring in our good friend paul, to get beat in it. senior mino analyst with comscore. paul, always a pleasure to have you on the program. i want to start with the outlook moving into next year. is this looking at big black busters heading theory to the theaters as it feels like we have really miss out on those in the last year and a half. but could that new very cause bigger problems? well, i think there are headwinds there, and it's great to be with you, rachel and brett. this is a really exciting time for the movie industry. and certainly with those spider man
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numbers, the movie is now to 751000000 globally. so definitely like you said, it has its eyes set on the $1000000000.00 mark that was something unthinkable a year ago. and the box office took such a heavy hit during the pandemic, particularly in 2020 with the total box office. like you mentioned at about 12400000000 for 2020 this year. we're going to be at over 20000000000. so that's much better. but certainly in a normal or traditional year, we'd be generating over 40000000000 in global box office. so lot of challenges there on the kron certainly didn't seem to impact spider meant at all. but for other movies, for which audiences may be more selected, or certain demographic groups may be more reticent to go back. a movie theaters like more, the more mature viewers that could be an issue for some other titles. but the blockbusters there seemingly impervious to any of the outside forces that are in the market place. and certainly does seem like just about everyone is talking about
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the new spider man movie. i know that it was a big nic and for them. but in addition to that marvel movies have dominated, over the last decade, and while there were some of the cinematic universe coming out, including black widow, did we need a big property like spider man to really pop at the box office this year? yeah, i mean, this was the movie that had it not been in the market place. we would be looking at a, an absolutely terrible 2021 in terms of the overall box office. but this one movie alone in north america has already injected hundreds of millions of dollars into this marketplace. so that's gonna help pushes over the $4000000000.00 mark in north america. and certainly the international box off is so important to get over 20000000000 considering where we were just to your go is most impressive. and there's a lot of big movie set for 2022 like the bat man, pixar light year dr. strange morty, as john wick for mission impossible, 7 top gun
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a ton of movies, jack asked forever who is that everybody's favorite asked. i think it's going to be a really interesting year at the box office. but of course, we're operating in the context still of the pandemic. and so we have to temper everything we're looking at, including those big projections for next year, for the global box office with that knowledge. we've talked about a lot of those big movies coming out and obviously many of them you may want to see it, a big theater obviously. but that other treadway we've been talking about recently has been the straight to v o d movement and on wednesday, even, that's the day the matrix resurrections hit meters, an h, b o max. at the same time. now, are students the distributors, seeing the benefit of this, or will this go away when those concerns about the pandemic start to wait again? or is it gonna be like a case by case basis now that they kind of see how it works? well, i think it is a bit of a case by case basis. although we've seen disney plus moving away, trying to move away a bit from that day and date simultaneous release,
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hbo macs that had indicated that that program of doing this strategy of having day and it will go away next year. so i think a matrix will do well in theaters and at home, but really movie is that go theatrical 1st. they actually help the small screen release, because movies that open on the big screen, theatrically burst, get more prestige. they get their prestige factor exclusivity. and then by the time they hit the small screen, they have even more value, my opinion, those films. and that's really important. so i think it's a, you know, we're on a learning curve right now. and the, you know, the coven situation definitely has accelerated, all these new business practices. and we're literally learning as we go, as we watch all this happen in this very unusual time at the movies and for many other businesses as well. it really as unusual and i know over the last couple of years we've seen streaming really take off as
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a whole. but it seems like there's some decisions to cancel or keep some of these big budget tv shows and movies. and they happen very quickly without giving a property time to really sit on a service. do you have any idea what they may be looking at on this? and are they not giving those titles enough time? i like to see a lot of shows given a chance to mean if you remember way back in the day on broadcast t v, there were many shows that started out kind of slowly and then build an audience over time and had it been cancelled early. we would have missed out on some of the greatest television ever. so i'm hoping that the streaming services make the calculus, that it's worth taking the time to nurture these programs are these shows so they can develop an audience over time. i hate to see this kind of very quick dismissal of, of shows that aren't immediately hitting big. so yeah, i want to see more of that commitment to the created. let them take some time to build up an audience. absolutely. obviously they can bring him back. there's plenty
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of time to do that if you need to, but it is earnings as people change plans. now here's a bonus question for you. okay. it has been hotly debated, but is die hard, a christmas movie, and in your opinion, what makes a holiday filled? and i got about 30 seconds left ball. oh heck. yeah, die hard is absolutely christmas movie set on christmas eve. christmas in hall is let it snow. there's christmas songs in it come on. totally a christmas movie and what makes a great christmas movie? whatever you like to watch during the holiday period. that's a great christmas movie to make father gary same. the i and i totally agree with your father, your updated vision and life of god square. thank you so much. have a great 1st of new thank you. happy holiday. and finally, if you've received a say, a scam phone call or even several there, sir. i would say, or even several 100, you're not alone. one of the top wireless carriers in the united states t mobile reported that scam calls more than doubled in 2021, and averaging
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a whopping 425000000 calls every single week. now the states that were targeted the most were texas, florida, arizona, and georgia. and while every company has their own approach, t mobile says that services have blocked more than 21000000000 scam calls so far in 2021. and while you likely receive the calls telling you that your credit card has been hacked or your social security number has been compromised, you may be surprised to learn more than half of those block calls or calling to ask about your car's extended warranty. how many times have we heard that? i mean, rachel, ever one of the extended warranty calls i been getting calls that a car i haven't had for 9 years. and then they still call say, gets about to expire. and always makes you wonder, how do they get people and you know what i now and realize i need to block them like t mobile tells you to and then they won't come through quite so often. good advice for 2022. and that's it for this job. you could get boom buzzed on demand on the board. will tv app available at smartphones and tablets to google play in the apple
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app store by searching portable tv. portable tv can also be downloaded on samsung, smart tvs and roku devices. or simply check it out at portable dot tv will see you next time with ah, working hammer shirts in the back. she popped in. she said, well, i'm getting ready to go shopping for christmas. and when we think of, there was a girl to buy another, shooting another safe part of american life shattered by violence. the gunman was armed with an hour 15, semi automatic rifle. when the issue comes home,
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it's time to act when we're silent on this issue, the other side winds, by default, the lady that lived over there. i was walking one of the dogs, which is why do you wear again when you scale? it doesn't take it off of i think the people need to take responsibility in their own and be prepared if those kinds of weapons were less available. we wouldn't have a lot of the shootings. we certainly wouldn't have the number one and i make no sense. you know, borders under the keys and you parish as a merge, we don't have a terribly, we don't to look back. see the whole world leads to take action. that would be ready. people are judgment,
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common crisis with we can do better, we should be doing 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 i just finance also i was, i did a read all the money laundering. first thing is it is can i see the 3 different? oh good, isn't a good start. well, we have our 3 banks all set up here, maybe, or something in europe, something in america, something overseas and came and i was, you know, all these banks are supposed to proceed with say, hey, i'm ready to do some serious money. wonder. okay, let's see how we did. well,
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we've got a nice luxury was for max and for stacy. oh beautiful jewelry. and how about ha ha luxury automobile again for mag? you know it, money one is higher. you really don't watch ah ah, there this is our t international. i'm calling bright. just turn midday here in moscow. thursday. the 23rd of december. and you join us at the start of our rolling coverage of the annual presidential press conference. it's going to be pandemic. protocol again, her course and it means that when those are reporters gather in the kremlin, waiting to speak to president putin, socially distance masks on. but no doubt.

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