tv Boom Bust RT October 10, 2020 5:30am-6:01am EDT
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please. don't let those in the cinema just know about the battle in the struggle of all those. people you want to make it work for you know who the. police are your people to believe but they were your are also friends so that the words are still so but the so beautiful thing to do something this year please. make sure you will. be there i was only about the physical reality i will go in but i was overwhelmed with
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a lot of that to the world and that. the to. this is boom bust the one business show you can't afford to miss i'm sorry mando in washington coming up the bull markets are on hopes that the u.s. will toss some sort of a groan a virus relief bill this comes as president trump offered a broader $1.00 trillion dollars package but well democrats counter the committee consisting of global central banks is looking at possible guidelines for enforcing crypto laws but one major economy is not part of those talks we have a boom bust panel standing by have a lot to get to so let's get started. we begin today with global markets reacting
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to the news that there may still be hope for another u.s. stimulus. package that's before the election starting in russia the most is down for the week as a ruble climbed to 2 week highs but still near recent lows concerns grew as france and germany they both push for a use ancients over the alleged poisoning of alexy of only already asian markets the shanghai composite surged this week after an extended holiday china's golden week china's blue chips gained 2.32 percent while the consumer staple sector added 2.66 percent official data helps boost consumer for. tourism actually domestic tourism rebounded in hong kong the hong saying also in the green this week the index rose after president trump called off stimulus talks on tuesday it then slipped on thursday over washington's ongoing efforts to 10 cent restrictions and at last point 3 percent amid
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a resurgence of covert $1000.00 cases in japan the nikkei also falling similar trends in the green with some 7 month highs on her new hopes of stimulus from the u.s. marine transportation iron and steel and security brokerage issues all led those gains in india the sense that rallied this week reclaiming the $40000.00 or $40000.00 mark i t stocks and the banking sectors led those q 2 gains financials rose on friday as the country's reserve bank kept interest rates unchanged at 4 percent the a.s.x. in australia also up for the week blue chips and tech stocks led those gains for soared 12.2 percent after acquiring u.k. platform breathed for $32000000.00 in south africa the all shares also in the green on wednesday the central bank reiterated it would keep rates steady at least in the near term consumer staples and gold miners also lead those gains let's head over to
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europe in the americas starting in london where the footsie is up for the. week well and gas prices helped those gains the index saw some losses though on friday data out of the u.k. showed that g.d.p. in august grew 2 point one percent which was less than expected the german dax also in the green now german exports rose for the 4th consecutive month by 2.4 percent in august after a 4.7 percent rise in july french also in the green closely monitoring about u.s. stimulus in brazil the evo best buy also seeing another green arrow the main b 3 stocks climbed 2.21 percent that drove us stocks led those gains in line with crude oil which also rose about 6 percent now heading over to mexico the b.m.v. also up on the week it reached highs that it hasn't seen since june or oil prices
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also contributing to those gains on output shutdowns in the gulf of mexico due to hurricane delta the peso is also continuing its upward mobility here in the united states the dow the s. and p. and the nasdaq all hitting that green arrow there actually hitting some month highs now the s. and p. on track for its biggest gain since august with investors closely watching for a stimulus deal and finally will finish off in canada where the t.s.a. also in the green financial industrial and material sectors they all contributed to those gains better than expected employment data also pushed up the ts arcs to some one month highs we'll keep an eye on that u.s. stimulus and the coming weeks and that is your global market walk. a committee looking at the development of digital currencies on behalf of central
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banks around the world has conspicuously left china out of its discussions the reason this stands out is because the people. china is currently leading much of the world in the development of a central bank digital currency joining us now to discuss our boom us co-host ben so on and kristie i christi let's start with you this working group consisted of the bank of canada it was also the bank of england and the bank of japan the european central bank sweden's. these 2 s. national bank and the u.s. federal reserve why was trying to left out well this is interesting because you have language from the head of b. i guess innovation hub and a former member of the e.c.b. saying that quote while there have been a number of discussions with china it's nascent digital yen is intended primarily for. making international cooperation unnecessary for now well that statement is strange because it goes directly against china statement where the digital army was intended primarily for seamless cross border transaction china stressed it as
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a top priority in order for it to internationalize its r. and b. and reduce its dependence on the global u.s. dollar based payment system so the entire purpose of this was to internationalize and mitigate the risk that the u.s. could potentially deny access from the existing swift network so from the start china wanted other countries to use its digital r. and b. so it could trace and control capital inflows and outflows more easily so right now it's not clear if china declined to join this working group or if it was just not invited but it was obvious from the start that this digital r. and b. was intended to use for global trade and investments however china wants to also develop its own system independent of the current payment system right now dominated by the us dollar which is another step towards de-coupling so china's digital r. and b. while it hasn't officially been rolled out yet there has been more than $162000000.00 worth of transactions on it right now making it by far the most widely used see in commercial setting so while china right now has 1st adopter 1st
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mover advantage going forward there will it looks like there will be to compete. painted to stand and it could be the biggest economic expansion we've ever seen with multiple digital currencies competing with each other what's interesting because china originally said they didn't want to use any now they're back in that to try to at least create one of their own that u.s. attorney general william barr has published official guidelines for keeping crypto markets accountable now the guidelines are called crypto currency and enforcement framework what does it what do those guidelines include. and to what you just said about china you know what we do not being for crypto trying to still not for crypto they are for a digital currency that's government control and that goes to this or that we're talking about right now with the attorney general go bar because what he is talking about is basically an $83.00 page document that takes a look at crypto and says you know how do we treat it going forward and moving forward and the reality is some of it is about kind of pump and dump schemes which yes they do happen in the crypto space but it's not exclusive to crypto what
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happens in the stock market all the time but then focuses on the real dangers right associated with crypto currency and when you really get down to it it comes down to the crypto part it's not the digital part that he has a problem with it's the crypto card that is a problem with so when we talk about this if we're talking about the issue of crypto currency in particular he focuses on 3 focuses on the dash will narrow and smart cache of the 3 that are specifically mentioned and i should mention that i have worked with quite a bit these are privacy coins that are designed specifically for privacy so that you're able to interact peer to peer without everyone knowing what you're doing what the u.s. government doesn't like that idea just like the chinese government doesn't like that idea just like any central bank in the world doesn't like that idea they're not interested in crypto they're not interested in privacy they're not interested in the security that comes with that what they're interested in our digital currencies and how to basically corner the market creating a digital currency where there is no privacy involved anytime privacy is involved
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governments do not like that thankfully for them to monitor it correct. to monitor it to monitor you to tax you want it to be able to control the movement of wealth who has it who controls it what you do with the government believes that you don't actually have any money you only have what they allow you to keep your money and so they believe that your money they are entitled to when you talk about the promise of crypto the whole promise of it is to move banks out of the picture and governments out of the picture in that people have the right to interact with each other peer to peer governments do not believe obviously they don't like the idea kristie the u.k.'s financial conduct authority has now banned the sale of certain types of crypto based financial products for retail investors after a year long review now britain's financial authority said on regulated krypto assets are ill suited to retail consumers for multiple reasons here why is that all this ban is essentially coming into play next year january 6th and the watchdog is considering certain products to be too high risk for retail consumers due to the
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difficulty of value assets and also the liquidity and the potential to incur some serious losses now this doesn't mean that retail consumers can't buy this ban is only on certain product that would exclude the distribution of future is option c f t as an exchange traded notes and according to the f c a this will save retail investors around $68000000.00 and there merrily doing this to protect the retail consumer from losing their money they're looking out for us apparently so the question is do you buy that so after a consultation process that closed october 3rd 2019 with 97 percent of participants they were opposed to prohibition the f.d.a. has completely disregarded the overwhelming public input the f.d.a. claims to be protecting the consumers but they're basically saying that the average retail investors are dumb naive and incapable of correctly valuing digital assets so that's just further evidence that the u.k.
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is now actually turning its back. on innovation because if the s.c. is motive were truly to protect the consumer then measures should be focused on weeding out the existing scams and protecting future scam companies from coming up and actually prioritizing consumer educations instead of just saying oh you're too dumb to actually understand this so let's just ban it so they're crippling all this investment opportunity and withdrawing themselves out of the market will and much like a bun said they don't like the idea of not having a control over a or overseeing oversight of it who must co-host christi i thank you both for discussing this with us today and really getting your expertise on it. another day another possible deal this time advanced micro devices a.m.d. is reportedly in talks are in advanced talks to buy rival chip maker silence people familiar with the matter told the wall street journal that it could be valued at more than $30000000000.00 and mark the latest big tie up in the rapidly consolidating semiconductor industry neither company actually commented on the news
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or give a response a.m.d. stocks have soared 88.6 percent year to date xilinx shares are up about 9 percent this year silence has struggled ever since the us blacklisted their key customer walk away if past the agreement could be one of the 3 largest deals this year and the semiconductor industry the sources said the companies are discussing a deal that could pass as early as next week. time now for a quick break but stay here because when we come back this year holiday shopping seems to be starting even earlier but what will it look like i'm in the end of our time there make an american from the sales as we go to break your the numbers of the. it's.
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it's an amazing country with so many friends in russia and i'm very excited to be here. i love that idea i think i can do that. every night i make a lot of money with a good name with millions and hundreds of me. he has a nice was. a great wall and nobody feels a lot better than me believe me and i'll build a very inexpensive like a great great wall. 'd
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and just in case you're worried about who's going to pay for it mexico will pay for . it we'll see what happens who knows jose who knows what we'll see on the field it will be success. this fall with us as american citizens native plants caught fire. after an attack on the other asked to die and i don't think. i would vote for a republican over trump i would vote for anyone who is not your fault and ask how to bring your defeat come true. if you get. my 2nd wife. she can handle it. she and i divorce because our trouble is elected president and i floated for him and she can't stand it. when
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. important election. you know history listening to go before the next presidential election is the history in the u.s. now you. want to the highest priority right now we believe and they do next. just some of the questions we put in their. holiday shopping is starting earlier this year stores are utilizing safer alternatives such as curbside pick up and the pandemic financial experts are concerned over the spending trends this holiday season are to correspondent to talk this week takes a look at where things are headed. it's that time of year americans are usually in
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shopping mode for the holidays but now with so much uncertainty in the air experts are questioning if the economy will take a hit as consumers are expected to spend less this year that is unless a stimulus is approved sooner than later for some it's their favorite time of year with the holiday season right around the corner this is the time consumers start spending the 2020 has been a year like no other and experts don't expect retail sales from other years to match this current one with unemployment at 7.9 percent and no real certainty of how long the pandemic will last federal reserve chairman jerome powell stresses the importance of government intervention for the economy still since it appears that many will undergo extended periods of unemployment there is likely to be a need for further support this week white house chief of staff mark meadows saying the stimulus negotiations are off for now but it doesn't mean the stimulus is out of the picture just yet the administration is currently looking at a standalone bill there's about 10 things that we agree on in the end if the
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speaker is willing to look at those things. on a piece by piece basis then we will be willing to look at it. and when this was announced wednesday stocks closed higher giving traders more confidence in what's to come the fed's also announcing a somewhat positive forecast business investment appears to be on a renewed upward trajectory and new business formation similarly appears to be rebounding according to some confidence in the path ahead but it all may depend on consumer confidence a survey according to extension reveals that one in 4 say they are cutting holiday spending and 22 percent say cove it has affected their financial security and well and person sales will likely see a dramatic drop for safety concerns some analysts say online businesses may be the big winners this season a retail forecast expecting e-commerce sales will grow by 25 to 35 percent during the 4th quarter. amazon is moving its prime date earlier some analysts say the goal
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is to clear infantry ahead of the holiday season rivals wal-mart best buy and target holding similar sales looking to match amazon's master livery service that's for black friday 76 percent of more than $1500.00 u.s. consumers surveyed say they want retailers to be closed on thanksgiving day instead of trying to cram shoppers into the store for a 24 hour period as in years past some stores are opting to stretch their black friday sales out longer but according to stephen baker vice president industry advisor for the n.p.t. black friday lines won't disappear but we expect lines of consumers waiting for store openings will be replaced by long queues of cars that will trumpet ministration is in the process of looking at a stand alone bill it's very likely a stimulus will not be delivered to the american people before the november election but something could surface before christmas reporting for boom bust and hushed suites party. for more we are joined by andrew aaron's founder and managing
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partner at synergy advisory management group and thank you so much for joining us today now as we heard some black friday sales are starting earlier this year since obviously the traditional black friday is not clearly visible and the safety protocols it is starting to are really going to spread then consumers willingness to buy. i don't think so i think people are going to be willing to buy people are being bored and i think. you're going to buy more and are going to store earlier and it's going to end up being a little bit better than what people say well is it will consumer behavior actually change at all as far as going into the stores or are they are they basically just turning to the e-commerce. i think most people are going to turn to the commerce and some people are going to go into the stores. but it's going to be way different but i think people are going to be more leaders. i think you're going to see that have. much like you said people have become bored and consumer spending has
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a come up in recent months but is there really a need for holiday shopping now we heard that a few people are cutting back on it it looks like family and friends that gatherings are going to be fewer numbers and even in frequency how are sales going to be affected by these 2 factors if it all. well i mean people who are people need their spirits to be lifted and i think that people who are just going to. spend we're money. i know there are people who are uncertain. with their future a little bit here but. things are going to turn around and think people realize that this code isn't going to last forever and if you had a very tribal leader and they're going to spend and make their holidays as good as possible i think the numbers are going to come out at the end better than a lot of the analysts expected so you think up people aren't going to be less inclined to buy thing since they're unemployed or are even they never see other
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people perhaps well i mean they're going to see other people who i mean people are still using you know face timing and you know people are still using zoom which is very big in people who are still using google need there are still seeing people they may not be coming in contact with. and they're still connected and i still think although people may not have money coming in right now from a job they know that something's going to come up on the horizon and enjoy going to be more positive going forward many people are still unemployed and waiting on some sort of stimulus check right at least here in the united states do you think holiday shopping is going to depend on whether or not americans really receive that stimulus check. well here in the u.s. i think it's pretty evident that we're going to see some sort of stimulus package we we've been hearing things going back and forth years for a few days and then something's going to come of it it may not happen till after
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the election but we'll see but i think stimulus is coming. i think people are going to be very yours for the holidays it's been orchestrated very emotional and drawn here and i think that signals are going to come from e-commerce people are going to see a big increase from e-commerce and since the spending is going to start earlier i think that we're going to really start to see. you know at the end of the year look pretty good well we see the some people really really concentrating on focusing and playing their savings taking better care their savings out there is the ones who have them obviously are spending more consulting firm deloitte released predictions at this holiday season the sales are are going to depend on really how much the wealthy actually splurge and the poor cut back do you think that's an accurate assessment. i do somewhat i mean i think the wealthy are really really going to
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splurge a lot more. if you're going to see numbers like you haven't seen a lot of time. and through the people or the lower income people i think they're going to try to do whatever they can to ensure this holiday which i said this has been a very dry and new year and people want to you know and somewhat of a good note and look forward to 2021 they do it and i hear what you're saying i think a lot of people as well are are bored and want to shop or are shop online they just turn to e-commerce and they can't go to the store i know a full disclosure here it's hard for me not to want to go to the mall and buy things but i think there's a discrepancy there too when people are either using our credit cards or using some sort of of credit to tip to purchase things andrew aaron's founder and partner at synergy advisory management group. thank you so much for making time to be with us today. thank you so much some highly trained dogs have a new job to identify those infected with the coronavirus that airports in russia
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specially bred dogs jackal husky hybrids have previously demonstrated there's actual abilities by recognizing patients with cancer tumors now arafat's canine service is training 15 of these dogs to detect cova 19 yuliya shop of all of our reports look for corona virus is a new commands that could become very significant for dogs that work at moscow's sheremetyevo airport they are currently being trained to smell virus infected passengers providing and noncontact and 19 test especially for the experiment medics prepared biomaterials say for dogs and their handlers that come from patients with coronavirus 1st the dogs are introduced to a new smell and then they're asked to find it among the biomaterials of healthy donors and signal with the pios or bark. apparently dogs react to changes in the biochemistry of the human body however with coded 19 these changes are individual
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for each person as soon as the dog is able to figure out that regardless of people's individual features they are carriers of the disease then the training will be completed the training of dogs to search for patients takes about a month that's longer compared to sniffing for explosives because we biological objects do not smell the same they see the scientific facts the diseases and the nose of animals can recognize them 5 years ago russian scientists gave dogs a sniff of healthy mice and those with liver cancer the accuracy of diagnosis by the dogs was much higher than that of laboratory tests the dogs used by airflow are across a breed between and under a truck or these small dogs have at least 300000000 receptors in their noses that send its action 50 times better than to a human. there are 69 dogs of this particular breed the athlete canine center bred by the company's dog handlers specialists say these dogs have a phenomenal scent they live alone on average 16 years 8 alito and dot com pilots
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they're very fast learners and incredibly capable of working they can been said is of up to says he is airport staff are now working with 15 dogs teaching them to detect code 19 but obviously more on needed after half an hour a woodchuck the dog should rest for at least an hour also dogs are showing incredible success at helsinki adult 16 of them have been on duty that since september passengers are asked to run a girl's napkin over their faces and around their necks then the napkin is given to the dog to sniff if the dog reacts in a certain way the passenger is asked to take a test specialist at the university of helsinki's say they've managed to achieve almost 100 percent sensitivity dogs before better than p.c.r. tests which require i said an effort to be accurate previously similar projects were developed at the airports in dubai germany and latin america in may 2028 france was going to find out whether dogs were able to identify patients with the
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corona virus infection in a crowd meanwhile the training of the dogs at the affluent canine center should be completed by december then some conclusions will be drawn either to continue the training on move on to other methods but it's still expected that next year the dogs will begin fulfilling their assignments at the airport. well that's all for now thank you for joining us and also you next time. please. as the u.s. economy was booming growing numbers of people were made homeless. you can work 40 hours 'd in a week and still not have enough to get housing everybody believes america still is the land of opportunity the reality of those who were not financially equality and the lack of affordable housing for a living minimum wage gave many people new choice you know there's been
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a problem with the city knows turn every turn and told me stay away almost. half the food if there is no answer because yes that requires resources the most vulnerable are abandoned on the streets to become the invisible cops. is your media a reflection of reality. in a world transformed. what will make you feel safe. high salacious community. are you going the right way or are you being led. away. what is true what is fake. in the world corrupted you need to descend. to join us
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in the depths. aura made in the shallows. in the headlines today possible peace in the making a ceasefire in the disputed to go on a code of region comes into force armenia and azerbaijan struck a deal after more than 10 hours of talks here in moscow. a cease fire is announced . on the 10th of a humanitarian purposes. pre-election chaos the 2nd us presidential debates canceled after donald trump refused to participate online claiming he's accused of covert 90 democrats though his health makes him unfit for office. plus frustration boils over a new restrictions because a covert 19 spark mass protests in many countries and global health officials say could lead to.
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