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tv   Boom Bust  RT  February 8, 2022 5:30am-6:01am EST

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talked and what they could mean for geo political tension was washington fight against chinese telecom giants continues but is going. 7 to cost a lot. 7 more than a $2000000000.00, the sbc originally budget is full breakdown. the latest number fan with the tech here are global correction spheres in the sector warranted? well, later on, we discussed the industries rebound after met at historic law. got a lot to get to look go. and we lead the program with a series of meanings between world leaders. attention continues around ukraine and the impact a military conflict could have across europe. mondays, talks began in moscow or french president manuel. my crohn met with russian president vladimir putin. mccracken said his goal was to de escalate tension along the border between russia and ukraine and to work towards a solution that helps to avoid war. the visit is part of an ongoing effort by nato members, france, germany, and turkey aimed at facilitating talks while russia has proposed in security
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agreement to nato. the u. s. was quick to shut it down and to criticize the requirement that guarantees ukraine will not join the alive. who in thank mc crown for his efforts to solve the 1st piece of this complex situation. and now wasn't the only meaning while microns visit to moscow was seen as a way for him to fill the void left by chancellor, uncle and merkle. it was the new german chancellor who made his way to washington. oh, off shoals arrived at the white house to meet with president joe biden, for the 1st time on monday. shoals has been in office for 2 months now, and already he has been criticized for being almost invisible, especially when it comes to maintaining the presence of the use largest economy on the international stage. while he has delivered the talking points is western allies want to hear in terms of vague threats against russia. he has also been criticized for the fact that germany responded to the conflict in ukraine with the promise of 5000 combat home support. now on that shoals says he is following german
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law and the helmets were requested by ukraine. all this comes as he promises the us, that they have germany is full support with intensity together and this is not for doing the steps that we have to do, for instance, fighting with ukraine. so it's an important thing to very, very however, there is a nother juggling act that the new chancellor has been trying to keep up with. and that's the ne room to pipeline. he has managed to buy himself some time as a certification is updated to comply with european laws. but in the meantime, the biden administration continues to voice its opposition to the pipeline, demanding the promise from germany, that if there is an invasion, it will cut off the $11000000000.00 project altogether. yet, while the u. s tries to exert the kind of control it claims russia wants to have over germany. it doesn't change the fact that the completed pipeline would provide
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much needed relief for the people of germany who have already spent months battling soaring energy cross cost. so how will the latest meetings impact the ongoing tensions was joining us now to discuss with her husband swan and professor richard wolf, host of the economic update. then let's start with you here. now we have germany's new chancellor. he's facing criticism for staying silent at such a crucial time. so why do you think he is stepping up now? and is he trying to hard to keep everyone happy instead of really standing up for the interest of his own country? well, the difficult thing is that by trying to keep everyone happy, that's what he thinks he is doing. right? he's protecting the people in his country because you have a lot of pressure coming from the united states and nato right now to really condemn russia. and to ratchet up tension with russia. so it's not that the u. s. is working to, to calm things down as a 3rd party. instead, they seem to be the ones racking up. we see that all the time,
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especially from the comments being made by the president of ukraine right now, who says it's the u. s. that's doing a lot of this in terms of creating a much bigger situation than what is actually happening on the ground. they're using words like imminent and an imminent attack, or an eminent invasion which the white house is finally agreed to stop using that term. but i think in this case you, what you have with shoals is you have a chancellor who's in a position where he needs russian gas. he needs to keep his relationship strong with russia. but. 7 he also wants to keep the united states happy, and so you're trying to find the balance between those 2 things. i will say this if you listen to how a lot of the european countries are looking at potential war with russia conflict with russia. they are not excited about this idea. they are not pushing this idea forward. it is the united states who geographically is much further away. that is causing a lot of this tension and the countries, the closer you get to russia are less interested in some kind of armed conflict. they don't want it. and so i think shows is trying to balance that, keep the administration happy, you know, use those terms like
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a use there about russian aggression without actually making a commitment of soldiers or weapons moving towards russia. because that only brings up tensions higher than they need to be. and professor roberto been just hit on this because the u. s. has been spent years warning. europe will become too reliant on natural gas from russia if the nordstrom to pipeline is completed. so how much do you think that is actually playing into the current state of tensions and you find that to be an oversimplification of the issue? i think i'd like to answer your 2nd question 1st. yeah, it is. an oversimplification. americans don't want to face certain realities here. there trump administration, with very little opposition from the democrats, told the europeans that they don't matter. told the europeans at the alliance with them doesn't matter that the united states can and we'll go it alone. wherever it needs to. he thumbed there in his nose and the europeans are also very mindful
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that the chinese will be the biggest economy in the world. by the end of this decade. the united states is not the overwhelming player. it once was, and the europeans know it. and they know that they have to accommodate it, and they are not in a mood to have some kind of conflagration with russia, whom they're trying to build a good relationship with in order to keep the united states happy about its waning global footprint. we have to understand that or else will misc list q here the europeans, are disentangling from the united states that is painful for the united states. but they shouldn't be surprised, given what they've said and done in the past. absolutely. now, better at the same time, french president micron is in moscow meeting with russian president pooh. and what is the significance of that meeting? and is it likely to have impact on these ongoing tensions?
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well, i think it will have an impact, and i think it's extremely significant. it might be the most significant thing that's happened in the past couple of weeks on this issue. and the reason for that is because, imagine this, you have a country like russia that the united states is saying is on the verge of not just, you know, an invasion into ukraine. but these are ridiculous stories about there's a video that they're going to produce. and they're going to create a false flag attack and trust us, this is going to happen. and everyone saying, well, where's the evidence where we don't have the evidence, right? as it will, all that's happening. the french president and manual macaroni is doing a very smart thing. he's going to moscow and he's talking to food and he's talking to the russians. that's very significant because in the last couple of decades, what we've seen, whenever there's a build up to the idea of war, the 1st thing that the u. s. does is it says we're going to cut off access to that leader. no one talk to them. right, and we're going to tell you all the things that they're doing and all the things that they've been saying and all the things they intend to do that's been the claim is that's what happened with iraq and saddam hussein. it's what happened with libya
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and gadhafi. it's what happened with syria and bashar assad. it that it has been the playbook. and so in this case, it's very significant when a leader of a country like france goes to moscow and sit down with the russian president and says, let's talk because now you're hearing from him whether or not these things are true and what are his intentions. i think it's very significant. what i think it also shows is that the u. s. is not going to be able to steam roll other countries into joining this aggression against russia. and, you know, launching into a war with russia as easily as they have many of the other conflicts that they have dragged the rest of the world into for the past several decades. i don't think it's going to happen the side. absolutely, and it is powerful, especially as like you noted, you had the united states claiming that not only as they're going to be a false flag attack, but that there's going to be some sort of stage video in the past. a number of nations might have bought those claims, but now we're actually thing talks. now professor wolf speaking of talks, we know we talked about macro and meeting with food in moscow this week. now,
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germany scholes is saying that he is going to meet with leaders in the p at and moscow next week. but what kind of message is he sending my going to the united states 1st and to his actual neighbors last well, you know, i'm not, i'm not to fly on the wall, but my guess is he's telling the americans what they want to hear, that there's still no lions that he's still treat via nighted states as a friend, which they do. that's correct. but he's also letting the americans know by immediately going to moscow. and my guess is saying the same friendly things that my call is saying, right now, you bloody me, united states know that it is no longer in charge. it's this painful slow process of reconfiguring the globe. now that the united states is declining, and china with russia as an ally is emerging into the sunlight as
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a dominant player. the whole world is going to be adjusting. it's happening everywhere. and again, the united states really has a choice between flailing its arms with the symbolic scary gestures are getting down to the business of working out on the accommodation. certainly a lot of important choices at stake there will continue to follow those talk. professor richard wolf and spend one. thank you both for your time and insight. thank you. and from the impact of one international conflict to another, it appears that the cost of replacing telecom equipment that has been deemed at presenting a, quote, national security threat. well, is much more a much more expected or expensive than expected. in fact, while the federal communications commission set aside $1900000000.00 for their rip and replace program aimed at getting rid of technology from chinese companies like,
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while way in the t. well, us carriers are now saying they will need at least $5600000000.00 in order to get the job done. so just a little bit more than was originally in that budget. now the chair, the fcc, took the twitter to say the agency receive $181.00 applications from companies looking to replace their equipment and to receive the funding to do so from the fcc secure entrusted communications networks. reimbursement program, however, that additional funding requires approval from congress, which it is likely to receive at some point as the house just passed, the america competes act of $22002.00, which authorizes nearly 300000000000 dollars for research and development aimed at competing with china, you know, it's interesting because we followed this ongoing conflict and of course the fcc was quick to say, hey, we need you to replace this equipment. we're going to fund it, we're going to pay for it. and now they're finding out that that's a little bit more than they bargained well, it feels like obviously a lack of communication. number one, the telecom companies could have easily known what this dollar figure was before
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this all went down and said, this is exactly what we're going to need. but as is anything with the government, those prices tend to go up a little bit more where, you know, you're getting your government check. yeah, and i mean, yeah, it seems like the congress will go ahead and pass that an appropriate properly. but we know when it comes to any sort of bill that's gonna start taking taxpayer dollars wealth, and it might be in question, especially on or talking about billions of dollars. there is something that didn't need to be done according to some people. so that could be a whole nother issue and time now for a quick break. but when we come back last month was a rocky one protect stock that, that, that visually entered a correction. on the other side, we'll discuss the latest from the industry as we get a break here, the numbers with
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with mark software is not going to end. and the transformation of all industry is with us, whether people like it or not. the last industry in the world to be transformed by software was money and big coin rolled into town. and now money has been dis, mediated or disrupted by this software. this protocol called good coin and of course, bankers hated central bank or say that, but let's talk back within 10 years, all major central banks will be gone and we're going to be in a post central bank era. the mediterranean is the world's most over fish, c unsustainable exploitation of its fish dogs, which maureen biodiversity undergoing thread and your selection. again,
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the quote was for sure your guest on this is because our system can continue to pull the cookie care for a tech and want to put our lives despite the promise is to end over fishing by 2020. the situation is changing to slow. well, i'm very disappointed with that they've basically in public interests. they also do know in the mid interest of officially the only true interest of the fishery movies on the face show the only one is in danger. the fishermen also at risk of losing or picking them up to them before they get to them, but they don't want to bubble thought, i guess them with
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algorithms. so neural networks have been following us everywhere. we look online because our relationships are what is most, that's how we find meaning and how it makes sense um are placing the silicon valley see don't mention in this like presentations. however, the ghost workers who train the software humans are involved in every step of the process when you're using anything online. but we're sold as this miracle of automation behind your screen is a workforce that feeds algorithms for next to nothing. on a very good day, i could do $5.00 now. a really bad day. i could do $0.10. now. these workers are invisible by design. it's about labor costs, but it's also about creating layers of lessening responsibility between those who solicit this kind of work and need it. and those who do it
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with . welcome back. us markets were mostly needed on monday, after a week of earnings reports from major tech companies, saw facebook parent company meta, lose nearly 30 percent over the last week after major losses, and it's met diverse division. meanwhile, amazon stellar showing pushed it up, breaking a record for largest one day gains and market value adding $191000000000.00. but in hong kong, amazon's chinese counterpart, alibaba is not varying so well losing 4.5 percent on monday after it filed with the se in the us to register 1000000000. new american depository shares while, which took a toll on the hangs, sang tech index as a whole, driving it down by one percent. so all of this comes in tech stocks have had a particularly wild 2 years since mid march of 2020,
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at the onset of the pandemic to the end of 2021. second. the nasdaq gain more than a 120 percent. but since the start of this year has last more than 11 percent sticky with the hong kong comparison, the hong sound tech index or massive gain from the start of 2022 with highs in february of 2021. before steadily falling for over the last 12 months. so let's go ahead and take a look at the state of equity is when it comes to tech and some of the biggest stories driving markets on tuesday with blue bus co host chris, the i and daniel, i'm the managing director at web security. and one of the finest mand caves, i think, i've ever seen here on television. now, christy, i want to start with you on the alibaba situation. what's the concern with registering this new 1000000000 shares and adf? well, there's some huge concern thing, as 1000000000 new american depository shares would represent about 36 percent of its existing base. so that's a huge increase in the float already. but the biggest concern is that this could
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signal the soft bank group corp is looking for an exit and wants to sell at stake in the u. s. market more easily. so the registration sites to allow holders of ordinary shares, especially those shares that have not been registered with the u. s. a. c c, to have the flexibility to sell their shares in a t s rather than as ordinary shares. so given the specificity of this registration, it may be a sign of selling intention from soft bang, who holds more than 5000000000 ordinary shares, a large portion of which hasn't been previously registered with the us regulators. so it's not surprising that the listing would have dropped alibaba. it would have with any company coming out with a massive offering like this and essentially diluting and float. but on top of that, there is an intention to sell a massive chunk. so shares are definitely going to be under pressure. certainly investors are waiting to see exactly where that goes. now dan, we saw huge single day loss for meta recently, while amazon pretty much had the best day in history. so what did we learn from
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earnings week about the strength of tech overall? because they have been entailed to cities throughout tech, earnings, me, 95 percent and tech companies are beaten raise numbers. but you've had some black eyes with netflix and of course wouldn't matter. hey, a lot of this is sort of company specific in terms what we're seeing with facebook . the apple ios changes have really been a got turned to the business model and as well as tick tock competition. but i continue to believe tech on enterprise, on cloud cybersecurity and other areas. it's robust the jewel transformation, but i think more and more the bifurcation tack that you're seeing in this risk off environment, florida white knuckles out there. yeah, certainly and tell us your cities is a good way to put it. now. christy with the nasdaq entering correct territory a few weeks ago. is the worst over yet, or do you expect to see another sell off in the coming week? i mean, it's hard to say there's still another leg down for tech stocks,
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but most of them have already dropped pretty heavily and they're now currently sitting at heavy support levels and pivot points. so the outlook for these companies, they haven't really deteriorated as dramatically as to explain all the falls. so it was mainly the fed worries and fears that they might tie nor over tighten that spooked investors out of these high beta names. so with the cost of barring rising more rapidly than previously anticipated a couple with the continuous supply chain bottlenecks, particularly in the chip space, the tech space is facing some major headwinds going forward. but i don't really see another sell off in the coming weeks unless there is another change in messaging from said no dan, i want to hit on a couple of micro stories here. there's a lot of talk about a possible pelettano takeover as the fitness brand has faith, massive struggles recently. there are a lot of be thrown around like big boys like amazon and nike. but you have you, personally, i've been saying it would be a good place for apple. why do you see that? i think it would be a clue if apple is to acquire power time because of the unique brand,
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because of the subscriber base. and it's something that within cupertino, they really focused on health and fitness. and just like we saw with activation when that fell by the wayside, investors here except from microsoft, from the della, which obviously acquired. and i think right now, appellate times be pork in the road, whether they decide to go for 10 am in a put themselves job if they do apple, both are often to, as well as defensively in the way that amazon or others go. busy after it, i do you that for come in shy historically of acquisitions. this should be a no brainer deal. now, christy, what do you make of this whole palatine situation with the issues that they have face recently as you were on the air here many times when they going public say, hey look guys, it's an exercise like with an ipad on it. so what do you make, what's going on? right, exactly. i think they have very limited ip, but that's a good point that they do have a huge consumer base and
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a massive subscription base. so it would be a good target for a company such as apple, which is actually slowing down in terms of their own innovation and growing their own customer base and everything. so having a new supply chain and a new supply model to tap into new customers, that will be actually beneficial for right now. pelettano, as we all know, they're facing massive public scrutiny because of all of this pub bad publicity that they've been getting in some of the new shows coming out like billions or even text me, the city where all these stars are now having heart attacks on pelettano so it's unknown if there is an inside are activists that are purposely staging this for a potential takeover or not. but there is speculation that there is potentially someone working on the inside and or to help and emanate acquisition take place. that's fascinating and interesting to see that they are in fact, getting that interest from some of those massive companies. now, dan, another part of all of this has been this ongoing scandal with spotify. we know that they have been saying all the right things, going to go to the rogan situation. now they have removed some episodes,
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and the c o has now apologized to employees saying he doesn't believe in silencing popular pod casters does any of this way on the company as a whole. or do you investors realize that there is more to the streaming service and just one voice? why dean for spot? if i mean rogan was a huge back, 100000000 reasons why they care about this. and obviously, the biggest podcasts are in the world in terms of audience. i think the problem for spotify is that the 2 worlds required and the podcasting world in the content from a streaming perspective. they do tight wire act right now for them because of the investors fear that there is more damage here. you could also start to see apple music and others start the game share. this is going to be really a key. the coming weeks and months are spot if i added navigate this without rogue and being when they're big back. but i definitely seemed like, you know, they were saying all the right things doing all the right things. their messaging
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was on point. but as is the case when people are all eyes are on one company, they've scrutiny started to come out more and more people digging back through old episodes. and when you have 3 hours a day, you just talking things are going to come out. boom bus. co host christy daniel. i've managed director, web security. thank you both for your time today. and finally, if you follow the ever growing world of anna to you, you have no doubt heard of the board a yacht club, but you like most of the world, had no idea who was actually behind it. well, whether you wanted to know or not buzz feed has now outed the founders of the project as greg solano and wiley are ronelle, who go by the pseudonyms, gordon, garner, and guard amount. now in the piece buzz feed, said there secrecy raise questions about accountability in the age of crypto bought last month during an interview with an s t content creator that you pointed out. there's a long history of anonymous founders in crypto,
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and there are very real reasons why people want to protect their personal privacy in the space. now the community has rallied behind that you creators well, they themselves poked fun at the situation and post to their respective twitter account. now, for the uninitiated, the board, a yacht club is a series of $10000.00 entity works of our each featuring the, the primate in various form. now the concept has become incredibly, incredibly popular with some of the most sought after a expecting big bucks. just how much? well, board number 232. they have really creative names here. old for just over 10101088 theory him or $2850000.00 on the f t marketplace looks rare last month while board a 2087 that sold for 769. think more about $2300000.00 at the time. number heard 8585 went for 697. at theory, i'm putting it value at the time at more than 2 point. $5000000.00 and board
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$87090.00. but $600.00 at theory and or roughly $2250000.00. i'm still trying to wrap my mind around how people are paying millions and millions of dollars for this one image. but up until this point has it seem like there has been not much concern about who the founders actually are. i mean, it didn't really seem like we're having this conversation until, of course, buzzfeed on to that. well, right. obviously, there are people in communities who have issues with certain different aspects, whether it's businesses and the lights and thing for the people who create these things, which is part of the n f t because you can get a license be every time it's out. also, there was some racial trope, accusations throw to around as well in there, so that, that issue, but also what they're saying is, look, you don't have to be in public based, that you can be anonymous because your block chain record. that's all you need to know. there is no lying immutable ledger. if i steal money, you can see that i still money. you know, you may not know me as a person or whatever. but that the fact is that just the way that the block chain
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works. so it is kind of a questionable situation here. and absolutely they want more about your block chain reputation than your actual that, that for this time you get boom bus on demand. the board will tv app, find it at portable dot tv will see next me the marks of software is not going to end. and the transformation of all industry is with us, whether people like it or not. the last industry in the world to be transformed by software was money and big coined rolled into town and now money, and this is the mediated, are disrupted by this software. this protocol called good coin and of course, bankers hate at central bank or say that, but let's talk facts within 10 years,
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all major central banks will be gone and we're going to be in a post central bank here. ah ah, is your media a reflection of reality in the world transformed what will make you feel safer? isolation for community. are you going the right way? where are you being led somewhere? which direction? what is true? what is great? in the world corrupted, you need to descend, ah,
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so join us in the depths or remain in the shallows. algorithm. so neural networks have been following us everywhere. we look online because our relationships are what matters most to us. and that's how we find meaning. and how we make sense um, are placing the silicon valley see don't mentioned in that slick presentations. however, the ghost workers who train the self, where humans are involved in every step of the process when you're using anything online. but we're sold as this miracle of automation behind your screen. it's a vulnerable workforce that feeds algorithms for next to nothing. a good day to do $5.00. now a really bad day. i could do $0.10. now. these workers are invisible by design. it's about labor costs, but it's also about creating layers of lessening responsibility between those who
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solicit this kind of work and need it. and those who do it. and, ah, you ask me if russia wants to fight with me. so let me ask you, does night. so want to fight a war with russia and nato to stop playing games and ignoring moscow the carrier he demands the strong words. com is the russian and french president agreed to work on stability. i'm at the 10 situation around you. craig, breaking from the pack and manual cron turns his back on nato's on to russia. read your waking post to moscow security concerns to be heard. the u. s. though, takes a different road with president biden threatening, that a crucial european gas pipeline would be shell if russia invade you create. there
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will be no longer nor steve to we will prove how will you.


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