tv Boom Bust RT June 8, 2020 8:30pm-9:01pm EDT
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this is so one business show you can't afford to miss more in washington coming up tensions are still high in the united states following nearly 2 weeks of protests against racial injustice straight ahead we recap the un rest and what moves are being taken to address inequality in the united states plus privacy remains a concern in the age of cope at 19 at the united kingdom has disclosed sensitive health data to a u.s. firm owned by billionaire peter thiel and later markets continue to search despite ongoing global chaos how far will optimism carry this ball run and is it
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sustainable we bring you that and more today so let's jump right in. and thousands of protesters continue to take the streets worldwide calling for reform to the justice system after george floyd was killed in police custody in minneapolis minnesota couple weeks ago here in the united states demonstrators continued in nearly every major city including washington d.c. new york philadelphia chicago los angeles and san francisco just to name a few meanwhile in germany 15000 protesters marched in leipzig on sunday and an estimated 25000 gathered in munich on saturday officials in australia said more than 20000 demonstrated in sydney with smaller protests taking place throughout the country in london thousands gathered in parliament square and outside the u.s. embassy to protest injustice and again this is just a small sample protest also erupted in paris rome toronto and numerous other cities throughout the world one of the big. protest here in the united states has been to
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define police departments and redirect those funds to other social programs the movement has even getting traction in minneapolis where 9 members of the city council a veto proof majority have pledged to dismantle the police department saying they will develop a new system for public safety in the city for more on this call the different police forces let's bring in our chief correspondent fare and from zack who's reporting from outside the white house. where you have been so i have been covering these protests they started here in washington d.c. and i got to tell you right in front of the white house kind of that hotbed of war a lot of these protesters are gathering each and every day 1st you had just had barricades behind me now you see we have fences last friday when i left these fences there was nothing on them at all and i can see that actually protesters are putting up signs in support of black lives matter as far as you know all lives matter and also defunding the police so what we're defining the police look like could actually really work well according to those that actually want to see this done it's a simple as as it sounds instead of finding a police department
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a big chunk of the city's budget would actually go towards communities in particular ones where much of the policing occurs but does this mean dismantling the police altogether while completely dismantling the police is on the more radical side of the spectrum but since the death of george floyd it's gaining major traction however dismantling and even defunding on a large scale hasn't been done before so it's a little tough to say but 27000 report that focus on a couple of weeks back and 2014 through 2015 when the new york police department pulled back on quote proactive policing meaning no aggressive enforcement of the report found that there were $2100.00 were crime complaints now as you mentioned now a majority of the minneapolis city council says that they support disbanding the city's police department this move just days after minnesota launched a civil rights investigation after joyce george floyd's death. to police department.
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now you have the minneapolis city council however getting some pushback namely from the president of the united states and also the minneapolis city marathon trumps latest tweet he has said quote this year has seen the lowest crime numbers in our in our country's record history and now radical left democrats want to defund and abandon our police sorry i want law and order now you had sunday you had minneapolis mary j. could pray he was actually booed by protesters after saying that he didn't support abolishing the police department altogether while on the subject he told local n.b.c. affiliate here i work relentlessly with chief ari dando and alongside communities towards deep structural reform in addressing systemic racism in police culture we're ready to dig in and act more community led public safety strategies on behalf of our city but i do not support abolishing the minneapolis police department or other co-founder of black lives matter movement says that defunding the police
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means reducing the ability for law enforcement to have resources it's about reinvesting these dollars saying quote into black communities and communities that have been deeply devastated from it and particular supporters want money put back into social services for you have mental health domestic violence and homelessness since police are the 1st responders to all 3 but also schools hospitals housing and food in these communities as well now again brant this hasn't happened before so it's kind of like we're looking into something that is again never really been done before now it's never been done before is talking about defunding the police altogether well now that it is kind of an issue and it still might be a pile in the sky idea but as these protests keep going on longer and longer who's to say that defunding or even dismantling the police altogether could be a pie in the sky idea. back to you r t correspondent fare from zach thank you so much for that insightful report today after more on all of this let's bring in an entrepreneur and co-founder of in the company is robert. johnson mr johnson thank you so much for joining us to discuss
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this i want to get to some things but i want to start here with the state of these demonstrations are taking place throughout the world and over the weekend everything was for the most part peaceful after we had seen some concerning situations over the last couple of weeks what are your thoughts on the continuing protests and you expect these gatherings to continue for the forseeable future. well and not a problem for. us or around were. yelling . racial. and you explain. that. and a faster primary driver. that when you're running we have already.
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or are saying you know that america is earth we represent america. and if you ever thought we were not mr race creed or color and that doesn't happen for a. purpose and. protest you know me out there whether it be your show where you're. coming. and going we're remember. now we just talked about this movement to define the police throughout the u.s. in your opinion is this a viable solution to fight this injustice and inequality of black americans have faced. no i think the word. is they. are is there new news are you really want. norm report me to go live or. i don't really we're really talking about that. is going to be more powerful.
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you know now really are. you know in relation. operate and there's a rating that basically. race now in rather a robber or criminal rain. and snow or. people who. were not. going to school you may. know we're. going to. be rather not. bargaining on that management. operation or training and frankly. community rethink is the rate of your
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revenue increase it through barry. yannick who. i'm going to marry a community where. if you rob well and you're absolutely right i think the message and maybe it's hard to get the proper message when you're talking about protests spread throughout the country but let alone the world and so i think to your point i don't think anybody's really talking about is fully abolishing a police department i think more so it's about redirecting those funds in some cases where you have police involved in things that they don't necessarily need to be involved in now i want to get to to a point that you've actually pressed on here now if you issued a press release calling for a 14 trillion dollars. in reparations to black americans now in a paper attached to that press release it asked basically for $350000.00 to every black person in america saying it could come in the form of direct cash payments over the next 10 to 20 years how is that going to work to fix inequality here in the u.s.
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and that we're seeing you know right now we've seen basically for the history of the united states. well 1st of all actually i doubt that we're talking about arming the research we are saying. in the black community so rare because there are former races. you know we did not. answer and. it is. now now or. are as the. law in the world our ways that. we do have a. lot of white america has. black americans just. yank it out there. and then. and so do you want on income inequality you got to. work white america
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are white americans now. reading network. 170. 7. no disparities in. economic injustice and racial injustice. so reparations is really a way of saying let's move money away from government for our own. program. rather going to marry well you know adam's just like why don't we. make it back to the rare. calming or the sand that are going. to get your you know your ancestors going you know. probably the end of the
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range. i'm really. a writer and miss shots and i have to ask i mean you know you talk about putting that back to a certain extent into the community can you have strings attached to something like reparations or is this a flat i mean like the checks would go out to people but how are you going to ensure that people will put this back into their community and not only that educate themselves. to better themselves to to do this i just want to make sure that that's part of your plan. i mean her name. is that really america. i've.
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known her a 100 things that you know and why. you're. leaving . and i mean that is serving a list. that's tomorrow. that's the problem. america. is not my home life. to children to our. community. to the monitor we're going to restaurants now you. know i don't understand. where the money. grogram. when you say you have your african american. your if you are happy you won't need
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me. you want me. you want me crazy just. want to have. your many. lamb and. we're going to have. robert l. johnson co-founder of bt and they are all j. . companies i appreciate you spending time with us educating us and sharing with us what you're calling for thank you so much i hope we can do this again and discuss the said greater like. you like to thank you very much. and time now for a quick break but hang here because when we return the bull run rages on despite global unrest and uncertainty what is sustainable straight ahead we're going to take a deep dive into the blue as we go to break here the numbers at the close. the
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you can be low with you. they can come and blow our brains out at any given time we can't really do anything actually america is the only country in the world where you can kill people. war and legally get away with. all of the fire crawls stillbirth all the troubled history failed to point its hollow flying to k.k.k.
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exists because america wants it to exist they are the biggest terrorist group to ever operate in this country and they're dead to media war saul's and the people who destroyed the world trade centers. and welcome back an incredible story out of the tech world today as a new contract reveals the british government gave secretive u.s. tech for implant here access to millions of health records in this case we're talking about access to private personal data belonging to millions of british citizens and perhaps the most shocking part the price at which they did it access to millions of records for the low low price of just $1.00 pound joining us now to discuss it but suppose that investigative journalist ben someone. i know it's where
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to start after that last statement there but ben let's start with the data what kind of data are we actually talking about here yes so essentially we're talking about everything that you would want if you were data collection company we're talking about personal contact details gender race occupation physical status health status men so. health status past criminal offenses basically everything that the british government has on its citizens it's handing over to this company and what's really remarkable about it is that this company is allowed to train using this information and they're allowed to profit off of it by building models and building private web and data tools using this personal information belonging to millions of british citizens. as we just mentioned there in the set up access this information was sold for one british pound one pound yeah.
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i don't have it so i have to question why what yeah i mean when you when you break that down for american viewers who are watching that that's a $1.27 that's what we're talking about a tech company going to the government and the government saying we're going to give you data on millions of our citizens and it's everything as we said all this proprietary information about people and personal information for a dollar 27 it's absolutely insane it demonstrates obviously that this company was allowed to have access to records that they really shouldn't have access to i don't believe but they were allowed to do so without even the government same or at least there is a mechanism by which we were able to recoup some value though at the same time you have to wonder why are you selling this data in the 1st place why in the world is the british government n.h.s. taking british citizens private and personal information and selling it then the idea that it's really only worth about a buck it's just it's insane. pelletier was founded by peter thiel an
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ally of president trump now pelletier has developed at a prolific knology intelligence agencies and governments use for surveillance their current customers in the us are a little startling are they not. they are a little bit certainly we're talking about the u.s. army we're talking about the f.b.i. we're talking about the cia essentially working with you know major government and military organizations in order to develop again these these tech tools that are used essentially to scan across social media scan across the internet and gather data on people and i think more and more brant what we're seeing is we have these these tech companies that obviously in silicon valley have developed these data collection tools on their own in this case you have a private company that is really focused on not being a social company but doing what social companies do specifically at the behest of national governments around the world both co-host ben swan thank you so much for that insightful report there. brant thanks. and with more cities beginning to
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reopen including new york city which started the reopening process just today on monday u.s. equities are continuing to game so let's bring in some expert analysis from too much co-host kristie i am told and smith c.e.o. transformative research thank you both for joining us today. what's driving the rally today and do you expect this to continue. i expect it to continue because b. the reason why it's driving is what i think we've talked about for 2 months now the market not only does it look ahead but the market responds best to information that's not as bad as i thought because when investor or a trader goes through the process of oh my gosh what about this what about that what about that they build this negative narrative and piece by piece that negative narrative is being blown up number one number 2 it's now near the end of the 2nd quarter if you manage money like i do or you have investment newsletter subscribers
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you get marked to market by how well you did and if somebody was sitting on their hands a good figure out what's going to happen they're way behind the marketplace we probably have 5 or 6 companies i've talked about on the show that are up to 300 percent in the. time that other people said but gosh it's we're not going to have a vaccine that everything you know what you don't live in the real world if you're going to bust money in the real world it's getting better not worse now christy do you see this as a true rally or is it still part of the so-called bounce did we actually recover from the bear market this faster or are we going to retest i mean i don't have we're not even retesting lows we're we're nearly high. it's all right now this does the job numbers look from last week this does give more support in a cover story but at the same time it's also puts additional pressure on the economic reports this week in order to come from that friday's jobs report was not just a one off blip on the road to recovery so right now there's still some clarity on whether or not they come you can recover as quickly as expected so now there's
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a positive bias in them so unless we watched that and beat the expectation we're going to fall back down but nevertheless investors are continuing to bet on the reopen and for return and air travel especially today airlines jumped across what between 5 and 9 percent today but at the heart of this entire market meltdown is basically the central bank the fed has been the wild card here and hedging has got no earned and the latest rally and they underestimated how many red lines and how far the fed would go in order to support the market so as such the focus of this week will probably be on wednesday as chairman powell is expected to reiterate his commitment to basically unlimited asset purchases in order to keep the markets functioning as it is now tobin despite a turbulent start to the year companies are actually continuing to go public in 2020 companies raised 12200000000 in i.p.o.'s on the nasdaq surpassing the 10900000000 on the new york stock exchange so who are these companies that are
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still deciding to go public nowadays and clearly as you've said things are still working for everybody so why not. yeah well it's going to be anybody everybody other than air b.n. b. right there we got a little a little work to go but but but look it. you know that we as the country recovered in some of the smaller states went open we hadn't we didn't get california we didn't get new york we didn't get all florida just wait until the news comes from new york city oh my gosh i have friends there who haven't had a cocktail. you know so what if i'm doing an i.p.o. right now i want to do it right now i want to do it where people are lagging there's a there's a e.t.f. called i.p.o. it's run by the renaissance people and i recommend that right now because these you have a lot of money chasing a little bit of inventory that these guys are only selling 10 or 15000000 shares at opens so you saw this last week a company called zoom info doubled in price on friday now that's bad on the
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investment bankers because of i was a c.e.o. of them i'd be on the horn and i'd be demanding you know extra shares an extra it's not the but the way this works is we have 5 and a half trillion dollars of cash that sitting in money market accounts and it's not doing anything and so when you get a chance to buy into these i.p.o.'s i'm i'm actually a buyer into the palin's here i.p.o. that's coming up so it's funny you had it on there. you don't understand what they did with that information is they created models that they use for surveillance to use for threat assessment and then in a time like today those type of companies are going to go public this year and they're going to make heck of a a lot of money and i stop saying what i was really going to say. oh well you brought a new and because i'll buy all of this happened and then and so it's still possible and it's not only once all but all of them and phone and all that happened i.p.o.
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that have already been played since jan and all 8 of them have already been up by switching and the. upsides to oversubscription pent up demand and everything and all of them are still training grant so that just shows that does give them to show the bullishness of the market right now and the over exuberance of the market that all of us i.p.o.'s right even though they are all completely cash flow negative these deals are getting upsides and oversubscribed i completely absurd valuations christiania template spirit and all bells are about how that's acted out thank you so much i always appreciate both of you being on the show. and that's it for this time because boom bust on the man of the brand new portable t.v. episode on smartphone through google play on the apple app store by searching portable t.v. we'll see you next time. someone
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else seems wrong. just don't call. me. yet to see how this day comes after. and in detroit because betrayal. when so many find themselves worlds apart we choose to look for common ground. we're told the civil unrest in the united states and beyond is about systemic racism we're told western institutions and values are inherently flawed and wrong neither really explain the real evidence of social breakdown what is really in play here is an ideology an ideology that demands absolute submission.
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no wants to clear up a few old nor used to. be my it's always ok it was. more. but not so you know the new media will step up to date they can put us in the mood at the polls put up by the smithsonian national open to capital they could do that at but i. see they. have. the. yes up. to the you have the. right to be. a folks next up on dennis miller plus one old friend of mine you know him as one of the judges on america's got talent which is going to do its 15th season we'll talk
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to howie mandel right after this sunday on a similar plus one. hey folks welcome to dennis miller plus one my guest today is a pro i've always admired diskettes career even way back when when we were schlep and doing comedy clubs how he was in theaters he always had to travel buttoned down he always had an opening act he always said it nailed and i thought this guy's going to go far and d.d. has you know him from deal or no deal one of the funniest comedians i remember you used to a show called make me laugh i think it's where i 1st saw how it i thought this he kept it's great and he's a good position to judge because he's had a long track he's seen it all america's got talent there 15 seasons of the show
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premiered last month on n.b.c. it airs tuesdays on the network i believe it's the number one show whenever it's on howie mandel. great i love that you start this whole interview with how much of a pro i am when your listeners will not know but we've been on for 15 minutes and i didn't know how to turn the my thoughts. so the real problem. i never said you were i never said you were gadget khazan i just said that i always admired how you organize your business life well it's not a gadget because then i'm on an i phone i mean i would imagine there's not it's really wasn't that difficult i'm just lost ever since radio shack closed my life hasn't been the thing you know howie folks know he had some a.d.d. o.c.d. problem you know i have a d d o c d where i'm constantly changing what i'm completely obsessed with but how he was always a bit of a you know german likeliness guy the world's come around to you my friend yeah but
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