tv Boom Bust RT January 17, 2022 9:30pm-10:01pm EST
to in the us and china also building between the us and russia. president, she argued the focus right now should be on turning away from a cold war mentality and focusing instead on developing new drivers of economic growth and facilitating cross border trade. is major economies slam on the brakes will take, you turn in the monetary policies, there will be serious negative spill office. they would present challenges to global economic and financial stability. and developing countries would bear the brunt of it. and joining us out of this gas has been thus co host, christy i. now, christy, what do you make of the latest economic data from china? i mean, we saw growth decrease from near by nearly one percent from the 3rd quarter to the 4th. is that to be expected, given the slow down in china as real estate sector? well, yes, it is to be expected as the recovery has been losing steam since the 2nd half of 2021. so growth got dr. down in the 4th quarter by as you mentioned,
the slow down in the real estate, which was then further amplified by the spill effects from the ever grand problems . and other defaults by high profile property developers. china also struggle with renewed coven outbreaks as well, which for the businesses to raise restrictions and effect areas, and that affected consumer demand, especially for the services sector. things like major travel and restaurants. and now looking forward, though, if china continues to stick to a 0 cobit strategy, domestic demand is going to be under some serious pressure. because right now there is absolutely no sign that china will loosen or relax this kind of policy anytime soon. so the government will be ready with some sort of monetary policy measure, if there is any sign of a nice they can slow down. meanwhile, the government has tried to maintain this very delicate balance of trying to put the squeeze on tech and real estate, which are 2 sectors that have gotten very bub alicia's. but at the same time trying to maintain a very controlled growth of these 2 very important sectors to the economy. now,
christy, there's also been a major focus on china. the industrial production, given the impact that has worldwide and data shows it rose more than expected in december at the same time, auto production group for the 1st time since april, up 3.4 percent year over year in december. what signals is that giving us for the year to come? well, it shows that china is still going to remain the dominant manufacturer of the world, at least for the foreseeable future. because during the trump administration, there was a big push to move companies out of china, and he made things very difficult for companies with deeply rooted supply chains entrenched in china. and as a result, we saw a handful of them look elsewhere for production and places like se, asia, indonesia and india. we talked about the migration out of china for manufacturing and it, and they, those small countries benefited greatly from that, pushed by trump. but unfortunately though many of these places, although pricing wise, it was very comparable to china for the labor,
but they still didn't have the manufacturing infrastructure to handle the volume. they not only nak last the skilled labor but also the supply chain knowledge and also access to major porch which then tacked onto the cost of transportation and then the overall cost of goods which made them move completely inefficient. so now after the comb with him demick, china's manufacturing sector remained intact and stronger than ever, with many disruptions around the world. china still managed to deliver goods in the country, is more result resilient than ever. and now, as i mentioned, since the fact that the auto manufacturing industry grew in china as well, that is a big indicator because auto industry is notoriously difficult to sustain. and auto industry support the wide range of business segments both upstream and downstream. which leads to this multiplier effect for growth and economic development. so in china, the auto industry contributes roughly 7 percent of g d, p output, and that number is only growing. wow, and it certainly can't be understated just how much countries like the u. s. rely
on china, but even so, i want to bring up the comments we heard there from president she, he's saying that the world needs to focus on working together rather than approaching confrontation. is that a direct shot at the u. s. given the increasing tensions we've seen with both china and russia, well, it's more of a message that there is a fine line between competition and confrontation, and a reminder that there is very little to gain in a confrontation. so much of this confrontation has been focus on, on a civil level more specifically on ideology, economic and disinformation campaign. and the fact that china's growth is outpace in the us can overtake to us. that appears to be a major threat because no one like being booted down to number 2. so it's difficult to not view the competitor as the enemy. so you see that in sports rivalries all the time on a political stage. there's so much more at stake and more to lose in terms of power,
influence fine and cetera. so rather than accepting that, this is just part of the same cycle, the same rise and fall in the power that existed since the beginning of civilization, the u. s. is going to be a bit confrontational and flex a little bit while it can. what it views as of these so called threat. so yes, it is going to contain of flex at russia and that china. and in the meantime, china is just going to be watching very carefully at the u. s. played look on how it treats russia. so now we have one more thing to have about a minute left here. but president, she also talks about common prosperity in 2022 and he's talking about global cooperation here. does the international community play a role in influencing china when actually they've asked for last bit fluids from the west, at least. so how does that gonna work out? well, the international community got a bit spooked by china's common prosperity goal as they kind of interpreted it as an egalitarian at them. so presidency g p, how to state it for the international community and clarify that the 2 are not the
same thing after the markets were rattled. because under this policy, china has been b shaping the countries business and cultural landscape targeting the spin tech sector education and entertainment, celebrity culture. and so he attempted to ease some of these concerns, insisting that china still remain committed and open to receiving foreign business . and in that respect, some of these policies are pro private sector pro entrepreneurship and pro small businesses will continue to be core for the coming year in order to ensure a fair environment. and other policies have also played a role in shaping china. the china policy also include of course, the carbon emissions agenda. china repeatedly stress. it's pledges to peak carbon emission by 2030 and then trolley by 20. 60 will certainly continue to follow how those policies play out in the new year. boom bus. kristi, i thank you for your insight, give and we can't talk about the problem of ram,
but inflation without touching on how people are expected to pay for the rising cost of goods. the pressure is being felt over in the united kingdom as manufacturing industry group make u k release data. on monday from a recent survey which found only 2 percent of companies involve had frozen pay this year. the same survey last year found about a 3rd of respondents had done so, and the majority of pay increases have been around 2 to 3 percent well below what the inflation rate is currently which is sitting above 5 percent expected to get much worse in the u. k, the high end for wage increases is 14 percent, but that is few and far between. as of now, this all comes amid the backdrop of skilled labor shortage. a minimum wage increase and depending tax increase in the u. k as well. so joining us out, discuss differently for which the president straw mark business development consultants and board member with the british american business association. hillary, always a pleasure. what's happening here with manufacturing wages in britain, while we're seeing more action than we might have feeling last year?
is it enough amid all the factors that are going on specifically as crisis continue to arrive and they faced that labor shortage, which raising wages is going to get more people in the door? well, pleasure to be back with you again. bread, but a few things actually over the weekend. it was interesting because of course in the u. s. we have so many empty shells. and there were a number of means of photographs, movies, and shows in the us, particularly at a non program sets. and they were saying in the u. k. like amazing how brits it has a global ramifications. these are these issues that are affecting the entire world and a little bit come down overseas and overcome from cobra, from supply chain issues. but yes, you're right. the u. k. is the hit particularly hard. why? because 95 percent of all goods. of course, a ship into the u. k. but a few things you mentioned earlier. maybe it was rachel mentioned that make you pay on survey that one of them actually was conducted with p w. c. and that found that 73 percent of senior executives are actually saying that the opportunities in the u. k outweigh the risk. one of the things that's very
interesting from all the surveys is that on shoring is much more likely to occur in the u. k. so actually, i likely a lot of these global supply chain issues are going to be very beneficial for back to your question u k. manufacturing, which will help wages and help you, you say manufacturing in what ways? well, obviously there needs to be more lillia because of the supply chain disruptions that we've seen and a few things on friday, the us senate, who began to 4th us contractors, they talk to the board to the bill that will make us the defense contractors, wine down all of that purchasing of ram minerals from china by 2026. what does this mean? this means that there is an opportunity in the u. k. in yorkshire. they're beginning to mine rat or of minerals and that will be very beneficial yorkshire in the north of england. so i think also you've seen the nissan ceo in the u. k. also, they're opening up a new plant in sunderland,
basically because of the supply chain issues. so the bottom line is all these disruptions have seen manufacturing investment improve in the u. k, deloitte, a p w. say, see that's of a, the thing. increased investment in the u. k. what happened in 2022, but yet remained wages right now remains back then because there's a lack of those wages behind or that investment. and certainly we've seen how the disruptions have continue to play a role. now also last week make u k said it's members expect things to be better in 2022, but the breakfast still remains a concern as it creates challenges to the industry. now, as negotiators work to resolve all of the post breakfast tension between the e. u and the u. k. do you believe that they are keeping their interest in mind? i think yes, i mean this is about the business and industry always keeps their interests in mind . i mean, best employees, not necessarily. i think what's interesting to see though is you look at the london stock exchange for the proposal last week that was proposed that was reported in
the city. i am. and that wants to erase the normal lines between public and private companies and tons, investment and access to capital. so i think what you're seeing is a lot of organizations focusing on how can we attract investments, the u. k. now can we also the supply chain disruption? make sure that we keep things on shore in the u. k. and then also, the other thing is not to the u back further field for trade investments that come from father. absolutely, no, hillary, i'm, you know, as we're talking about post brack britain, there's more talks happening this week to go through their set to as they say intensified over the northern ireland protocol. foreign minister lives trust and she's also in the new broo exit negotiator. she basically was more conciliatory this time saying, we want to work out a deal. is that a better move? are we looking get a better conversation now rather than saying, we're ready for article 16?
well, you're right. i think you saw actually a shift this week. i'm not, and when michael go with an office and not, not in the form of law february, have we seen a point statement so off of the meeting and showing them that they're in can't they have a meeting over the weekend? and actually i believe that this was all liz truck idea now, and that was instead of just as doing shot, she actually hosted that that came over and he stayed with her a hand over the weekend. they actually had time on and well slam and apple pie, what did that mean? they issued a joint statement off to it. and this is a very different child. you're absolutely right, but i think this is going to mean what i think this means a joint statement coming out from them at the tone and yesterday being a completely different tone, come out from her office. absolutely. henry ford, which of straw mark business development consultants. thank you so much for your analysis today. and mortgage rates here in the u. s. are out for the 3rd straight
week, even hitting their highest point since march of 20. 20. at the start of the pandemic, the 30 year long rate hit nearly 3 and a half percent last week, from 3.2 percent the week before. now this all comes one year after mortgage rate hit a record low. now, as for what's behind the increase we've seen in recent months, well, you can thank inflation which remains near 40 or highs in the us while the federal reserve is reducing asset purchases and planning to increase interest rates. starting in march, their actions really haven't had an impact on these rising prices just yet. now the and the increased mortgage rates combined with the skyrocketing housing prices we've seen are bringing about concerns. they could impact would be home buyers in the month to come and sign up for a quick break. but when we come back, spain has moved back down on crypto advertisement. at the european nation is make an effort to rein in the unregulated sector. is going to break here the numbers with
yes ma'am. oh oh risky is that will you elisa? typical there's only 9 but already 8 university students that away on slash a new month appointment. let's see. i believe you've got the last. there's doors to deal with a, with the he may come can no recalls, and he really shows control such programs. now brochures, new passcode, and of course with level you're special, but i was the, yeah,
my i was thinking what the plan was to get on the she was in your mind shipping this i'm the little with soon lose with his teacher was reason this one is a good time. so intense interrogation techniques used by us officials were basically designed as techniques to break down the human mind. if you force a human being to stay in a certain position doesn't take very long to the pain involved to become absolutely excruciating, but nobody's playing a finger on you. you are doing it to yourself. and we started adopting those
techniques when i was station in mosul, among them wordpress positions, sleep deprivation and do some type of thermo. there's already beginning to be evidence that these old techniques are now being used on immigrant children, whatever you do or more comes home. nobody has been held accountable for the torture that happened in the past. the moral authority, the made america war, little sacrifice for the shimmer of effective interrogation. ah ah .
is your media a reflection of reality? in the world transformed? what will make you feel safe? isolation, whole community, are you going the right way or are you being that somewhere? direct? what is true? what is great? in the world corrupted, you need to descend a join us in the depths or remain in the
shallows. a welcome back. you might have noticed large numbers of crypto ads are starting to pop up just a few weeks ago. we told you about crypto dot com, 700000000 dollar purchase of the naming rights to the staples center. and you've probably seen their high profile ad starring matt damon with the tagline. fortune favors the brave. but not all governments are on board with these measures. in fact, spain's government has just moved to rain in crypto asset advertising, spain, placing restrictions on so called influencing promotion of crypto currencies and in a parent 1st for the european union. joining us our discuss our boom co host and crypto analyst been swan. and jeffrey tucker,
he's the president of the brownstone institute that i want to start with you. what specifically it's being doing to rein in influence or promotions? yeah, well, they're essentially doing is saying you can't promote crypto. if you are a celebrity or an influence or they're the 1st country, as you mentioned in the you to actually do this. a lot of this was actually spurred by a famous soccer player who was essentially endorsing by nance. yeah, you know, coming out and saying, hey, you know, where do i buy crypto out or learn about crypto? i'm buying through by nansen. so he's sending a lot of people in the finance. right. but it's not the only country that's doing something, singapore, actually, it's called the monetary authority of singapore. and they have actually made it illegal. get this to, to advertise crypto at all or crypto products in newspapers, magazines, broadcast media or even in social media. essentially saying the crypto is dangerous and so they don't want to allow people to invest in these, in these you know, crypto assets. and so what you're really seeing right now is it is a huge shift that's taking place to determine whether or not crypto is safe and
whether the public is safe buying it. and we can have a whole argument here. but part of what makes all of this, i think a little trouble. some, especially for someone like me is there are a lot, a lot of bad players in this space who do take advantage of people. and it's easy to do that when you have people who are driven by, i would say kind of the tick talk, trend of investment, right, where they're influenced by buy mean coins rather than knowing anything about crypto space in general brand. and also i think she wonder what qualifies as advertising those crypto on social media. i mean, if the average person gets on there and they say something along the lines of, hey, i just bought this crypto from finance, i mean is not going to send the government after the innocent question that goes along with it. now jeffrey, whenever it comes to both of these cases, it appears that i and then both of the governments are saying that these criptos come a significant risk in the influencers are not following the same regulation as others
in the financial product. advertising would, is there any truth to that? yes, there is. so free speech has not been allowed and financials for very long time, and your typical hedge fund cannot advertise anywhere they can't even have a facebook page or linton page. so what, what does, who advertise him to me anyway as is mostly a democratic exercise that here's my information. everybody can have access to it. that's good. yes. you know has been pun tabs, cut downside to because rackets and scams also use advertising times an industry. but financials have been long restricted in their free speech rights, and what they can come out take so that the way to understand what's going on here . and it's important other countries is, you know, it's been the long effort for like a year or 2 or longer to try to regulate criptos that way. they regulate records or
some nationals. so of course that's going to impact on free speech rights. and it's come to the u. s. research and so crypto companies and exchanges will not be allowed to advertise in a normal way. they'll be treated like hedge funds arch day, or a lot of talk companies, which is, you know, they get the cab speak out. and what does dances limit, you know, it kind of limits, information flows only to the lead to have access. so to ultimately answer democratic, but it's also consistent with the way financials are normally irregular. yeah, i'm glad you brought up the u. s. as well now, been there have been some issues with influencers, pushing their audiences toward crypto here in the us. correct. what's been going on there? yeah, absolutely. in fact there's a lawsuit that was just filed against kim car dash, ian, and floyd wait may weather junior, because they were both pumping. a going called if theory a math. right. and so can kurt, as she and you know, puts up some poets, hey guys,
what do you know about crypto i just learned about? there's also one called a theory, a max. and the employee may, whether, when he was, you know, announcing one of his latest fights, talked my theory emacs, he talked about it, i think, at the coin miami, at one point he's actually booed off the stage because he mentioned a theory max. but. 4 he allowed for purchases of tickets to his fight in the theory . max, here's the problem, right? this is actually, i think, a great example of, of, of the issue. so jeffrey's right, when he says some of these rules kind of push people, push, push all of the game to the elite, right? it allows these, these a leads to have control of the system crypto supposed to break that, but stupid people. and i do mean stupid, like him card ashy and employ may whether right, they're smart business people, but they're stupid when it comes to this industry because they're, they're treating it like it's, it's makeup. they're treating it like it's something that is easy to buy. you know, if you're going to go buy some energy drink, it's not the same thing. and so when you go out and she'll a coin like it theory a max until people buy it. if you want to create rules on it, here's what the rules in my opinion, should be. don't ban influencers from talking about it. require that if you're
going to influence people to buy something that you yourself must own it and you can't pump and dump it. you can't throw it away and then you have authentic influencers, who are thin typically saying, here's something that i believe in, but that's not what's happening by the way. a theory emacs just for the record has no connection to ether or actual if theory of is just in the name and it's lost. 97 percent of its value since it was pumped and dumped by celebrity jeffrey, i got about 45 seconds. you could finish it off her yet no bends, right about this. i mean, it's extraordinary. the number of clients that are willing to pay, people just endorsed them, you know, just goes on every day all the time. and i don't know, i can i, why don't we just think the wild left crypt this is the price to pay for an innovative technology. you know, there's going to be a scam out there all the time. paying people lot of money to the stupid things.
the alternative is a cracked on free speech and limiting of information. only 2 circles. and i, i think in general a principle of freedom is, you know, in the long run going to be beneficial to everybody. but however, the buyer beware, right, are also bus fed swan and jeffrey tucker of the brownstone institute. thank you so much. thank you. and finally, it appears the largest retailer in the united states is playing up its position and the crypto and block chain game. i hope they don't advertise it illegally race. that's right. in the filing with the us patent and trademark office, wal mart lays out a service involve encrypt to current these n f t and block chain technology, which could be used by customers in an online community. now you may remember a fake press release back in september that said, the retailer would begin to accept the light coin as payment, sending the all coin skyrocketing before eventually falling when it was announced
that it was not issued by the company. now unlike that situation, this comes from an actual filing with the government, so at least we have that. but we should know that many filings of this sort are based on ideas and projects in the works that may never come to fruition. now this comes in more and more major brands are trying to stake a claim in the meta verse. so the question for you, are you ready for the meta verse? i don't fully understand it and i'm trying my best i know you can buy property and i feel like the was word really because i think i understood a lot of the technology things that are going on behind it. but it is a matter of you just keep hearing. oh no, the semester is play. don't worry about it. i'm not quite sure that wal mart understands it either, but i guess we'll find out today if there's money to be made there there. and that's it for this time you can get boom bus on demand on the portable tv app available on smartphones and tablets through google play in the apple app store by searching portable tv, portable tv. you can also download it on samsung, smart tvs and roku devices. or simply check it out. affordable dot tv will see you next time.
yes, i didn't know. look new for you. i leased the typical there's only 9 but already 8 university students that away on slash a new month appointment. let's see. yep. you got the floss. there's doors to deal with no bluetooth able to cope with us. and so the loss of money to somebody is pointing to yahoo, temps, that he may come from nobody calls he will show suntrust lunch program, use them now brochure, nebraska, of course with them will your special but i will the yeah my but i just have a 3rd grade, not particularly certified, like was to get push it was and you might be getting this, i'm did it, it was with soon lose. and if
it, when you most of judge one could be for his teacher was reason to spend a minute. oh is your media reflection of reality in transformed? what will make you feel safe? isolation or community? are you going the right way or are you being led somewhere? direct. what is true? what is faith? in the world corrupted, you need to descend her join us in the depths
or remain in the shallows. ah, when you strip out the fake aspects to the c p i number the actual inflation number is exactly what we said. months ago, it's 15 percent. people's purchasing power is degrading. 15 percent wages might be up 3 or 4 percent, but inflation is up now. 15 percent. so net. net people are losing really losing out. and it's a problem that is intractable because the central bank has a problem that they can rectify. they can't, if they were going to raise rates, they seem to rectify this problem. they would have done so already. the reason they're not doing that was because they are simply can't raise right. there is a cure for this. this is now at the beginning of a hyper inflationary collapse. the money.
a cobit protests erupt in europe as countries ratchet up be restrictions making the lives of vaccine hesitant people ever more complicated. as scientists predict, omicron will rapidly become the dominant strain of coven globally. this year, the world health organization tells us medics will get little really a increase the number of nations around the world as we see on to her and becoming becoming an area. and so the sheer in fractions will bring more people to the hospital ahead of the 2022 us mid term elections. a new survey gives the republican party 814 point swing from the democrats. one of the.