tv Boom Bust RT February 4, 2020 1:30pm-2:00pm EST
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reaching out even when it's pretty even anywhere near. breeding dogs or caged in the into lane conditions on puppy farm i mean 67 years you know they've been locked up in a cage outside you see no protection from the weather the heat you know the courtier the rain the snow the funder nothing they have no protection. particularly you know . it's a kid. across the u.s. crew puppy mills are supported by dog shows and stores most of the puppies that are coming from these large scale factory farming kind of operations are being sold in stores even joined a group businesses are involved like. there has been a shocking amount of the organizing opposition to adverts to increase the standards of care for dogs bred in commercial breeding facilities most of that opposition is coming from huge agricultural groups and industries that have nothing to do with jobs don't buy dog.
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welcome to boom bust the one business show you can't afford to miss been swan and i'm christie i watch event coming up kind of pushing back on a u.s. taliban over the coronavirus saying that the u.s. is pushing fear and misinformation and that has to be its role that the u.s. wireless carriers have violated customer policy by tracking and sharing your location so what the fuck of all while break it down and big oil has logged its best performance for the month of january since 2030 who was driving the growth we're investigating so much to get to all those very busy day so let's get started . and we begin with the latest on the corona virus outbreak as china's foreign ministry is accusing the u.s. . spreading fear and panic they say over the virus this is
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a president trying to sign an order to pereira lee banning intreat of foreign nationals who have traveled to china within the past 2 weeks but let's be clear because the united states is not the only country to do this in fact australia italy japan pakistan russia and singapore of also 'd impose similar restrictions even so china is saying that it isn't reasonable for countries around the world to try to prevent people from crossing borders singling out the united states the chinese foreign minister says quote the u.s. government has not provided any substantiative assistance to us and is instead only created and spread fear which is a very bad example in quote well meanwhile the world health organization which finally declared the coronavirus a public health emergency seems to be against these restrictions listen 1st that he's not he's in for a major to start unnecessarily into if you do his international travel and trade. we call on all countries to implement decisions that are not evidence based and
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consistent w. just ready to provide advice to any country that's considered which measures to take. second we must support countries and those systems so. actually the development of. the new sticks. is a we can. greatest strings it was kind of the w.h.o. to offer advice but then again it's worth pointing out that the it was the w.h.o. itself that's come under fire for its slowness in declaring a public health emergency when the biggest reason for not doing so their words concern for world markets not really in the purview of the w.h.o. chinese health officials have confirmed that as of monday there are more than 17000 coronavirus cases in the country and so for $361.00 deaths. the s.n.p.
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and nasdaq recorded their worst start to trade a year since 2016 but china saw its biggest daily fall in more than 5 years monday as traders rushed to sell amid continued fears about the impact of the coronavirus on the economy the shanghai composite fell 8.7 percent monday when markets reopened after their 10 day holiday chinese authorities have stemmed off a market wide panic by announcing a 170000000000 dollars liquidity package to buy up securities from sellers this is the biggest cash injection into the financial system since 2004 to stabilize the market and to also prevent the bottom from falling out by ensuring there is a buyer the army plunged below 1 7 to the dollar and the chinese officials are now quote hoping the u.s. will agree to some flexibility on the phase one trade pledges u.s. soybeans are pricing in a pessimistic outcome as they continue on their 9 days slide down the longest down streak since 2014 australia's a.s.x. also fell 3.8 percent in early morning as it is china's largest trading partner and
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as china shuts down its consumption levels fall hitting australia's economy the r.b.a. is expected to cut rates in march again and downgrade its growth forecast for the year china is by far the largest oil consumer so as such this drop also affects. who is way another supplier to rebalance the global oil markets prices dropped monday to its lowest since january of last year and as we like to say this is a 0 sum game so as 3013 $1000000000.00 gets wiped out of the chinese stock market ali baba's popping nearly 4 percent on facemask sales and gilliatt surged 8 percent as its experimental drug rivette star is making significant progress on a care it was 1st given to us patient last week whose condition appeared to improve within one day and now china's national health commission said that the drug trials were beginning to being carried out at multiple hospitals in will hunt for 270 patients. and here to help us break the latest is that the virus continues to
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damage the markets we're happy to welcome sean. bell investor so the coronavirus is spawn the largest work from home experiment right now decentralized work is in and companies are experimenting with various platforms and managing this at a massive scale productivity platforms like we checked work and by dan's as a lark our gain a massive popularity while co-working spaces like we work they're being gradually phased out so will this industry shift from a in person to online continue after this entire outbreak is over. yeah i think so i mean technologically we're heading that direction and i don't think that's going to change with a virus or without coronavirus all these silly the separation and people being separate can help still spreading and you know i don't know if some of these guys that are starting these trends will always in the surviving these trends i mean you look at internet trans when they started with earth link and stuff like that those guys aren't around today yet the boom of the internet is and so i know that some of
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these trends will still continue and probably will survive better i mean they've come from a waltz to profitability recently where as we work in some of them they're still they don't have a path to profitability. earthling that's a name i haven't heard in a very long time 2 thirds of the chinese economy is still shut down this week to curb the coronavirus spread this is as were expected to hit tesla nike and apple as those regions remain closed however tesla nikkei are actually both up today apple was green briefly as wall street continue to encourage everyone to buy the dip but is the rhetoric correct here or traders too optimistic here and kind of blindly buying the dip out of habit rather than good judgment. you know they are blindly buying the defy the habit so people get conditioned over time and retail investors in particular tend to look back and see a trend and they think that's going to continue forever so that's their confidence and incidentally buy a stock so they're like well buying that dip is worked every time so just keep it up but you know kids keep fanout but eventually it does not and so how do you know
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when it's pushing the envelope when the valuations get high you know when the technical levels get stretched when people get euphoric an optimistic and think it can only be a one way bed and that's essentially what we've got right now so it doesn't mean that these things have to pop or turn down tomorrow but it we are walking the tightrope now and sooner or later somebody going to fall off well now china is kind of seeking some flexibility from its base one pledges to the u.s. right now there is a clause currently that allows the u.s. and china to consult in the event of a natural disaster or quote other unforeseen events so clearly this outbreak is a catastrophe weakening the entire chinese economy and it kind of gives the u.s. more leverage so we're very familiar with trump habit for exploiting counterparty weaknesses and exerting maximum leverage so what can we expect from him now especially in light of these accusations of spreading false news spreading panic and not assisting in efforts to contain the virus. yeah so i don't think it's going
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to hit them when the when they're down kind of a thing because that really doesn't help the u.s. interest or really anybody because china's growth and their trajectory is is so important to really the whole world including the u.s. so even if we looked at it from self interest alone we would not want china to just to suffer as a result i mean it's already hitting our commodity markets it's hit their stock markets which could bleed over into eventually our stock markets we've got high tech firms over there that some of our biggest household names are over there you know if they do poorly that could affect us so i think that he's got incentive to help them over time but he's letting some of their own help them 1st some some of the other counterparts in asia and then i think that he might come in later on going to keep in mind too that we are really helping them in the sense that we've got sciences which is a california company already working with china that's helped you know with ebola and sars and things of that source i really think it's going to be cured more through companies doing something even more so than administrations doing something i think you're probably right about that however there is kind of
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a public relations issue here as we talked about at the beginning of the show china is essentially criticize the u.s. for not physically helping out right spreading fear they say but they say you're not helping so we do know that you know other countries have supplied all kinds of donations countries like indonesia japan france even iran and singapore they're putting together assistance packages u.s. foreign aid is not flowing to that we have about 30 seconds here do you think that that is something that will also happen i hear what you're saying about the companies helping but will the job of ministration with usaid get involved in actually sitting supplies do you think quickly i think maybe but 1st i think it's priority is to make sure the americans and those in america get taken care of 1st and then he may be willing to do that later on i think is looking to see how far some of these supplies from other countries of help will go so far as well. and quickly hyman the editor of logical investor thank you so much thank you.
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well after months of investigation and even more months of feet dragging the f.c.c. has finally determined that several u.s. wireless companies were breaking the law as they collected and sold user location data that data was sold at times to data brokers who then sold it to bounty hunters the new york times had already reported on how this location data was being collected and abused by law enforcement and additional reporting by motherboard showed how the practice had even extended to the collection and sale of 911 emergency location data which is forbidden under u.s. law so how many u.s. carriers were doing this and who are they now can tell you that because f.c.c. chairman has only revealed that one or more wireless carriers violated the law but won't say which ones senator ron wyden of oregon whose office investigated the cell phone location data said in a statement in part this quote when i alerted the f.c.c. in 2018 that wireless carriers were selling their customer's location data to
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a shady prison phone company which was allowing prison guards to track american cell phones i knew immediately that the practice was a security and privacy nightmare thanks to an al cry from consumers last year the big wireless companies finally stopped allowing shady data brokers to track their customers i am eager to see whether the f.c.c. will truly hold wireless companies accountable or let them off with just a slap on the wrist so will these companies get just a slap on the wrist well we don't know right now what the penalty will be but chances i think kristie are very good there's going to be really no more punishment just a fine and the problem is it's a tiny fraction of how much money they make by selling the data to those data brokers they do the wrong thing make a lot of money and then get a little fine for it and we can't help but use the data provided because there's only what 4 major wireless carriers in the united states is basically a monopoly they can do whatever they want. and we're kind of dependent on them if we want to use our mobile phones what's really interesting about this story in
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particular is that it's not really a surprise the new york times started reporting on this as i mentioned motherboard did a lot of reporting on it and the fact is the f.c.c. was tipped off about this and took months. took months to launch any investigation to find out what was happening and who was being affected and that's i think the biggest problem we have right now with the f.c.c. is they don't do anything to actually police or control the wireless companies and if they don't want to do that why do they even exist and apparently pledges mean nothing because these wireless carriers they actually pledge they promised in june of 2800 to stop doing this and as we can see these promises mean absolutely nothing because they don't take privacy seriously more promises broken time now for a quick profit but just hang here because on the other side of the trade bitcoin has logged its best performance for the month of january since 2013 so what's driving the growth where investigating plus the u.k. is officially independent from the e.u. but what does that mean for trade between the 2 parties well break it down and as we get a break here the numbers at the club. let's
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talk about 20th century socialism this is when governments made mal investment and then they bailed out those mal investments until the economy went bankrupt versus 21st century capitalism this is. and banks make malinvestment say when they go bad they bail out the mal investments and the cycle continues until the economy goes
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slowing despite the growing negative sentiment instead the biggest winners happen to be treasuries and bitcoin the bond rushes intensifying with the 10 year yield down 22 percent this year the corona outbreak coupled with a negative interest rates around the world is making u.s. treasuries particularly attractive right now despite the historically low yield on the other hand they coin is also getting a boost as asia stock markets fall big log its best performance for the month since 2013 up over 29 percent in january and monday we see big points 50 days about to cross the 100 day moving average forming that golden cross that we typically see at the start of a major bull run well we could say that this move is correlated to the koran outbreak but the truth is that the recent surge in bitcoin is a prelude to a much larger move that has been building up over the past few months there has been a steady wave of economic shocks including us iran tensions rise it the trade war and now. the coronavirus all the stabilizing the public markets all this have pushed investors towards which is gearing up for its having event in may so let's
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just start with the slow clap for a bit because good job moving up again in january but you've got to be a little bit cautious here because the last time we had the golden cross which you know everyone was like oh here it is here is the golden cross and that means to the baby and then i got to 12000 bell and then it fell back down again like a kid skateboard quite well enough yet so i think the problem that we keep seeing with that point is that there's a this promise that we're going to get back to this rural like we saw in 2017 it's not going to go back with that kind of acceleration and that's good that's actually a positive right we don't want to see big calling or any cryptocurrency outpace itself because then it becomes a huge bubble in a burst again because its ability to right now instead of before where all of that was built on hype and speculation and short term traders that were just really an adequate money now we're seeing long term investors getting into institutional people actually betting on the technology versus just the quick money profit yeah because what it turned into was it turned into a money flip right which was we're going to take this thing called big coin that we
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don't care about the value it has we don't care about the actual usage of it we just care about if i get into day it'll be worth more tomorrow than it was today that's what everyone got into and so you had a bunch of people who got into it you know for lack of a better term who kind of spiked the whole thing not intentionally but they ended up spiking it and so hopefully as as we're getting more technology associated with it we're headed in the right direction exactly and for once it's more so the technology that it's pushing it out rather than just curious speculative greed and it's also not shocking or scary to people the idea of something called digital money or digital payments because whether it's because or something else everyone's making those payments as they see still scared of it well. it's going to everything that's not a shock payment companies like world line world in particular speaking of digital money has agreed to pay $17800000000.00 euro that's worth about $8700000000.00 to buy french rival engine c o. the acquisition will create a european leader in the payment processing sector and it follows
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a wave of mergers and acquisitions among u.s. rivals which are also attempting to build up their share of the digital transaction market when we say digital transaction market we're talking about everything from credit and debit card terminals found in shops and stores to transaction security for retailers and banks the global payments industry is set to reach 3 trillion that's with a t. 3 trillion dollars a year in revenue by 2023 as more and more people switch from cash to digital payments online and for store purchases. meanwhile there is a lot of discussion within the e.u. of what the new relationship between the u.k. and the e.u. is going to look like. to. see that if you work together on your security with the british that requires you to leave the exchange in particular they don't often very personal to you know being exchanged if you look at any of the subjects if you're in this chapter and you can see opening it concerned is actual additionally what happens with the arrest warrant to move to do. for example to show your d.n.a.
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data citizens. to all of the people as we are concerned because we are talking about the citizens who are european citizens and i'm here to visit them and i will do that. so many questions so joining us to go deeper on this and other issues across the european markets is hillary ford which board member with the british american business association said to have here. that has taken place finally slide brags that i had absolutely there is a discussion about what happens now a trade deal between the u.k. and the e.u. and everyone's kind of acting like this is a shocker right the e.u. budget negotiator we heard some of what he said there he says that an offer of 0 tariffs and 0 quotas on all goods to the u.k. could be conditional on open and fair competition what is britain's access to the e.u. market look like right now and what will it look like you think in the near future well obviously michel barnier. with that he can't make it easy to i've said this for quite some time which is this is like when someone tries to leave
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a cult or they try to leave some kind of club if you make if you make it easy everybody else is going to leave if this was easy and hunky dory there'd be next it because the dutch would leave in there because the swedish would leave so basically what the u.k. wants is far more of a deal much more like canada well what they're saying is that michel barnier said well that took us 7 years to negotiate we can't negotiate this by the end of the year he's not going to say that this is easy absolutely isn't so there are 2 sort of sort of views of the way the deal could be it could be like canada and it could be like norway now one of the sticking points ironically is a very small issue in terms of trade across the e.u. and that of fishing rights the norwegians have a situation where they actually negotiate each year so what the u.k. has in its favor really is it's very powerful in terms of the waters obviously that it's of books around the u.k. you have to look at a map to see that that the u.k. waters are vast and the you eat you fisherman they want access to that so shorn o'donoghue who is the head of the european union for fisheries has said look we want to maintain our access so you've got a lot of pressure because they have
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a lot of political power you've got pressure from the fisherman then you also have a lot of pressure from all the german manufacturers and pressuring on people like angela merkel in terms of them selling one about one in every 7 cars goes into the e.u. or goes into the u.k. so from the e.u. so the bottom line is this the u.k. wants to not have to adhere to all of the regulations of the e.u. and michel barnier does not want to make it easy and he does not want to make concessions boris johnson has already said that he will of course the u.k. will adhere to all the same sort of standards in terms of employment in terms of the environment so my prediction is boris johnson is doing what he does best he is standing firm which obama is trying to stand for but the u.k. has those waters for the fishing rights in their favor and the amount of products they buy from european manufacturers particularly germany so i think the u.k. is going to get a very favorable deal because this isn't the only issue at hand a deal with trump is very much a hand. so a lot of moving pieces here to get strained out right now germans and chancellor
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angela merkel said on monday that she's prepared to back some changes to the european union's lisbon treaty that blocks entire legal cornerstone if need be added now that the e.u. must become more competitive because britain has let so what might some of those changes look like well let's back up once again we must remember that the lisbon treaty that was initiated after actually the dutch held the vote so did the french or hold a vote and they wanted to leave and then the e.u. came back with all the lisbon treaty which was not a democratic move so what's rather ironic now to use an analogy i think the analogy is this this is like when you break up with someone you dump them because of all these issues and then they decide although rectify all these issues well if they had a lot better promo i'd be better i promise but once they wrecked by the issues if they had done that in the 1st place you wouldn't have left so basically what i'm saying she's saying that they'll be more competitive that may not have been a brics if they'd be more competitive there'd be less regulation so my prediction is when you ask what does it look like they will become more competitive why again
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she has all those german manufacturers behind her pressuring her pressuring all these faceless brussels bureaucrats saying wait a 2nd we want to still sell into the u.k. we don't want tariffs we saw one in 7 calls into the u.k. so you've got the pressure of those manufacturers so what's going to happen. angola markel and the rest of the european leaders they all have all of their companies in their countries pressuring them and so what they want they want less regulation they want freer trade and they're going to pressure to have that we started off the side we're talking about it on this acquisition deal by world line in creating this massive payment processor for european digital payments i want to get your thoughts on that very quickly what do you think ultimately is the advantage of this is it specific to the european market or is the effort here really to be a worldwide player because the coal industry seems to be contracting a little bit in terms of growth but contracting the terms of the players it's a lot of that it is that there's going to be this huge consolidation like you
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mentioned they want to be right now if this deal does go through which it looks like it is going to as you mentioned it's going to be the 4th largest in the world so actually it's interesting the french are making this move and she'll drop in a what he has said all kind of quote him or power phrase and i should say he has said once this integration goes through we are going to be on pace with be able to compete on a global level basically they're going to be chasing the u.s. companies because what it's done is that worldwide has the online payments they have the merchants where as this engine c.e.o. has all of the payments on hardware so with the 2 combined what they're doing is domination and they'll go after us massive consolidation is a big deal it is a big deal hillary forward with the british american business association thank you so much for your insights. gary look at someone and wonder what is going on inside their heads that well
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that's what we all thought when we heard his latest release which is even more bizarre than a cyber truck his latest releases a.t.m. song titled don't doubt your vibe which consists of musk repeating himself over and over again for almost 5 minutes it sounds like he's talking. all those heavy shorting a stock as it explodes another 25 percent in 3 days but as another heavy picks up its short position more haters are merging after all tesla is now 40 percent bigger by market cap but it only made about 5000 cars and 2019 volkswagen on the other hand made almost 11000000 cars so it doesn't really make sense to me but hey that's just math who cares about that when you have the hype of a brand new song yeah so ok so just to understand that musk is free styling the song is that i was no you were you already did all that actually like on paper and he's trying to read it straight into a microphone i mean when you say right that's gratuitous because it's only literally 2 lines that he repeats over and over like
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a little montréal for about 5 minutes. if you didn't hear you know if you go back on joe rogan and smokes weed together live on. t.v. but on the podcast you can sing the song there are cells that could go by pretty quick yeah so essentially now that tesla now that he is the face of tesla who is apparently bigger than volkswagen actually minding the company and actually managing and steering his company and figuring out where tesla is going and what the new products are going to be instead of basically creating a montra. obviously he's a brilliant guy but the f.c.c. is constantly looking for things to deny him on and this would be one of those things right any time he does anything they say could hurt shareholders because now you're a publicly traded company and they go after you this is a waste of time and waste of resources which is a few times that's it for this time you can catch a boom bust on demand on the brand new portable t.v. available on smartphones through google play and the apple app store by searching for the t.v. or stream us to your t.v. by downloading portable t.v.
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ads on apple t.v. and online at portable dot t.v. . devices very soon and as always you can have as you 2 go com slash boom bust r t c like you're next. so the politicians have basically stuck the american public with in the public paid to negotiate for drugs and both parties who are financed very heavily by the pharmaceutical industry have done this so when your own people vote they should look at how much does this politician get from the power pharmaceutical industry last. thinking of getting the music on the ones we've gotten our shows from the last sunday no it's still trapped
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in this tiny little wired we don't need to create with him he will just stir freaking out into the wall when it's pretty much anywhere near and thousands of breeding dogs are caged in the in 2 main conditions on puppy farm i mean 67 years you know they've been locked up in a cage outside you see no protection from the weather the heat you know the courtier the rain the snow the thunder nothing they have no protection. look at you . it's 2 kids. across the u.s. cruel puppy mills are supported by dog shows and pet stores most of the puppies that are coming from these large scale factory farming kind of operations are being sold in stores even joined a group businesses are involved like the mum son to there has been a shocking amount of organized opposition to efforts to increase the standards of care for dogs bred in commercial breeding facilities most of that opposition is
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coming from huge agricultural groups and industries that have nothing to do with jobs don't buy dog. this hour. headline stories disarray dismaying in the u.s. state of iowa the democratic party caucus is plagued by technical difficulties but in rare you all agree. nothing to do with it the results of the 1st contest of the 2020 primary season are not expected until choose the. also had the arrest of an alleged war criminal who lived in the hungry and then student visa revealed serious on the part of flaws in the e.u. were terrorists gaining entry into europe. britain said its carbon me.
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