tv Boom Bust RT June 9, 2020 2:30am-3:01am EDT
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is hard to take some from somebody if you know have some to replace. the want to do this interview today and all these markets open that they take me. they're not going. there and. so i'm going to tell you start selling drugs if we'll have some of those the money and if. they just me all the way to life it's almost been basically mccullers peaceful for us all or. do you know what sickened me security positions i've been in that. day jack me again. you see people get their cars you know see you coming in the herd and they seems like they'll hurry up and run into the house like they don't want to they don't want to talk see her get your mail or anything like that.
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and then. just try reading. it to some give me. this is the one business show you can't afford to miss umbrella for in washington coming up tensions are high in the united states following nearly 2 weeks of protests against racial injustice straight ahead we recap the other refs and what moves are being taken to address inequality in the united states plus privacy remains a concern in the age of covert 19 at the united kingdom has disclosed sensitive.
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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 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 the thousands gathered in parliament square and outside the u.s. embassy to protest injustice and again this is just
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a small sample protest also erupted in paris rome toronto and other numerous other cities throughout the world one of the big calls that protests here in the united states has been to define police departments and redirect those funds to other social programs the movement has even contraction 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 now for more on this is called the define police forces let's bring in our t. correspondent fair and fronsac who's reporting from outside the white house. where you have been so i have been covering these protests since they started here in washington d.c. 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 we 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 that also define. in the police so what would defunding the police look
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like could it actually really work well according to those that actually want to see this done it's a simple as as it sounds instead of funding a police department 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 a 2017 report that focused 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 there were 2100 she worked 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.
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police department. now you have the minneapolis city council however getting some pushback namely from the president of the united states and all trump 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 kare a worker lightless lee with chief ari dando and alongside communities towards deep structural reform and addressing systemic racism in police culture are ready to.
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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 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 and these communities as well now again this hasn't happened before so it's kind of like we're looking into something that has again never really been done before now what'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 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 farron fronsac thank you so much for that insightful report today
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and for 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 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 or do you expect these gatherings to continue for the forseeable future. well a lot of. us around the world. or they are reeling then. racial. or not and you explain where you are. going on. from at the. end of the. anti princess primary driver.
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when they're confronted with a new kind of horrible murder or saying. merry earth to represent america to separate them from all people regardless of race. that doesn't happen that every day we've got a problem and file problem in you know may. be whether they do in the situation whether you're black. by coming over in iraq. and then them we're a member. now we just talked about this movement to define the police throughout the u.s. in your opinion as a viable solution to fight this injustice and inequality black americans are faced . no i think the word. is they are is there no news or are you really warm. nor regret your labor. i don't
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really want to return about that bernard is going to read more of our. unit now really are. you know in relation. operate and there's a rating that basically. race in radnor robert graham in the rain. and snow are. people who. were not. going to rio grand schemes so they're. going to. be rather not. bargaining on that management. operation or training
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and frankly. community rethink is the rate of your revenue increases through barry. then there's yannick who are going to i'm going to marry a community where black brown is a new 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 know 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
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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. 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'm not that we're talking about arming the research we are saying. in the black community so rare there are former races. you know we do not look. into. our. law in the hour in ways that. we do have a. lot of white america has. black americans just. yank it out there. and change that and then. and so do you want
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on. your work white america are white americans now. reading the 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 why don't we. make. it
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a rare. calming one of the sand that are going. to get your you know your ancestors going you know. probably the end of the range. i don't really if the rights are in missed shots that i have to ask i mean you know you talk about putting that back in 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 and not only that educate themselves. to you know be better themselves to to do this i just want to make sure that that's part of your playing. to ask. i don't need a new. name i'm running a half
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a $1000000.00. an hour is. never going to marry. i've heard. around. no 100 things that. were in. your national. league. and i mean that is serving no less. that's more oh. now i am here that's the problem. america. is not my home life rather than to children to our. communities to the monitor we're going to restaurants now you. know i don't understand. where the money. was grogram. and well what were
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you saying yeah you're african american. you're if you are happy you are. you are. you were made sense. any hour you want really crazy and just remembering we had our house now not your many. family and maybe you know. many already. robert 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 this at greater length. if you'd 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 but is this sustainable straight ahead we're going to take
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a deep dive into the book as we go to break here the numbers at the close. so what we've got to do is identify the threats that we have it's crazy one sunday shouldn't let it be an arms race. spearing dramatic development only really i'm going to resist i don't see how that strategy will be successful very critical time time to sit down and talk.
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these drugs thing any city in the united states that you want long as you want to get it out. and make money. that's one of the. i. welcome back an incredible story out of the tech world today as a new contract reveals the british government gave secretive u.s. tech firms plant here access to millions of health records in this case we're talking about access to private personal data belong 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
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discuss it but both investigative journalist ben swan. i know it's where 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 dead a collection company we're talking about personal contact details gender race occupation physical status health status mental 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 by. longing to millions of british citizens. as we just mentioned there in the set up access this information was sold for one british
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pound one pound. i don't have and i have a question why what yeah i mean when you when you write 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 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 is 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 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
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that insightful report there. thanks. and with more cities beginning to 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 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 or going over goes a good figure out what's going to happen 2 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 have said but gosh we're not going to have a big scene in 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 and now kristie do you see this as a true rally or is it still part of the so-called balance did we actually recover from the bear market this fast or are we going to retest i mean i don't know if we're not even retesting lows we're or nearly. so right now good stuff john mclaughlin 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 you know and to come from that friday's jobs report was not just a one i'll let on the road to come right so right now there's still some clarity on
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whether or not they come in chemical or as quick. early as expected so now there's a positive bias so unless we watch that and the expectation we're going to fall back down but nevertheless investors are continuing to bet on the real thing and for return and air travel especially today airlines jumped across what 5 to 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 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. you know well it's going to be anybody everybody other than air b.n. b. right there because it's got a little a little work to go but but but but look at it. you know that we as the country recovered some of the smaller states when open we had we didn't get california we didn't get new york we didn't get all florida we just wait until the news comes from new york city oh my gosh i have friends 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 muddy chasing a little bit of inventory 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 bet on the
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investment bankers because of a. i was the c.e.o. of them i'd be on the horn and i'd be demanding you know extra shares in extra stuff and it's not the but but the way this works is we have 5 and a half trillion dollars of cash 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 pelletier i.p.o. that's coming up so it's funny you had a vote over there. you don't understand what they did with that information is they created models that they use for surveillance they use for threat assessment and in a time like today those types of companies are going to go public this year and they're going to make heck of a lot of money and i stop saying what i was really going to say. that the other one you bought of zoom info because despite all this by all of this happen a zoom and it's profitable and it's not only 2 months all but all of the recent and phone and all those there have been i.p.o.'s i have already been planes to since
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june and all of 8 of them have already been upsized which means they've got upsides to oversubscription pent up demand and everything and all of them are still trading green so that just shows that does give that to show the bullish ness 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. completely cash flow negative these deals are getting upsize and oversubscribed i completely absurd valuations christiane. thank you so much i always appreciate both of you being on the show. and that's it for this time you get that boom bust 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. we
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berea all the trouble here is briefly all the points it's hollow point to k.k.k. exists because america wants it to exist they are the biggest terrorist group to ever operate in this country and they're dead to me they're worse off than the people who destroyed the world trade centers of this growth life. of no was a clip of she will show you sleep. but you might so reese that the guy was a guy who most of the late. you know. what they can to us that wouldn't get the courts put up. here in the
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capital. city they say yes long. yes but. the headlines this hour thousands of their last tributes to the late george florey in his hometown of houston texas protests continue to rage across america and politicians are accused of politicizing this day. after black lives matter to this in the u.k. topple the statue linked to the slave trade it raises the bate's about the fairness of their actions. with the slave trader in the 17th century 300 years ago democratic means to put a stop to use to take you down statues people have been campaigning for decades. they. know what and israel's plantronics parts of the west bank following the green line.
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