one. is your media a reflection of reality. in a world transformed. what will make you feel safe. isolation little community. are you going the right way or are you being that. direct. what is true wants is right. in the world corrupted you need to descend. to join us in the depths. or in maybe the shallowness.

this is a boom bust the one business show you can't afford to miss i'm going to bore in washington coming up following big queens latest run to an all time high the world's most popular cryptocurrency faces a minor correction head we're going to look at the roller coaster week and what we can expect in 2021 plus the tech industry workers are making a major step as some google employees have unionized later i'm going to bring you up to speed on the move and whether this could be a larger trend in the tech sector and later on the tensions between the united states and china are chilling even further at several chinese telecom firms will be delisted from the new york stock exchange with a packed show today plus dive right in. we lead the program with an incredible

weekend for crypto currency specifically big corn as the world's largest crypto currency hit an all time record high of over 34000 dollars now by monday that number had fallen back to around $31000.00 but still leaves at record highs and those numbers are also causing a huge push for all the courts joining me now to break it all down is jeffrey tucker the editorial director for the american institute of economic research and boom bust co-host and cryptocurrency analyst ben swan always great to have both of you ought to be on this specific topic now jeffrey i could see just the chop at the bit ready to go so i want to start with you obviously it was a great weekend for a big point what do you expect to see happen with big oil over the course of this year. about predictions run i had predicted 30 k. by the spring and then a quick fall back to 17 k. so i did not expect 30 k. by the beginning of this new year and i'm

a little bit surprised that the that the numbers have not fallen through there when you said minor correction you're right it is minor and presumably if the prices hold above 25 k. i think it suggests something fundamental has changed in the markets it could be new institutional investors i think that's a very easy explanation but more than that i think we're dealing here with a new kind of philosophical credulity that that big one has picked up in the year 2020 when governments have failed so soon miserably so badly and we can't forget that big point has not just a technological element but also an ideological philosophical element that expresses more confidence and markets and innovation then and governments and their finance institutions and central banks that they support and i think what we've seen this year is a realization at the end of the year a realization that they can perform very very well this year in the midst of the most egregious downturn in our lifetimes and during a terrible lockdowns. and that's impressing many people and institutions so so

jeffrey quickly do you believe that we're going to stay around this point we're not going to drop further back to that 17000 point where you were where you said previously yeah it was here's the problem i mean i've been watching these markets sensing a pretty close a since 2012 in the pattern has been. enormous bursts up and then a pullback and that's that point the world press has a little bit because it is dead and that's how would have expected to see a lot more selling pressure than were seen so i'm i'm i'm i'm careful right now about expecting it to fall back i as i said i i think the floor of 17 cable would be the new floor but i'm just not seen evidence yet that that's going to be it now what we could do is see a little bit of a parking value at a 30 k. for a few months. and then either tumble or then go up but i think we're going to start to see some big moves in that direction 2021 somebody asked me this morning is like

is now good time to buy was not my place to say whether you should buy or not but i'm will tell you that if you get in these markets you know patience is your friend you know and don't be down a lot of those apps you know that pen you every 90 minutes middle of the night to tell you what the new prices are assuming the lust of your new riches or were or are or why and over your new poverty just just hold on and joy you got to have philosophical commitment to be in the market and definitely no telling you to buy or not here but it's definitely not as good a time to buy as it was maybe 2 months ago. or a year ago when we made sure that we're getting of this this latest rally is helping all coins as well ok tell us about that yeah i mean that's absolutely true if you want to talk about getting into the market you don't get in with the big point at this point you get in with all coins i mean those are also by the way seen a real rise if it is now right around or just under 1000. dollars it's the highest

it's been since february of 28 team we're talking about over the last 7 days it's increased in value by 36 percent like coin similarly right now i think they're just under 100 $50.00 a lie coin and that's the highest it's been some time as well and we're talking about an increase there about 12 percent because it catches up so there's there are a lot of different all coins out there that are on the rise as well i think what we're seeing right now is the difference in big coin and all coins guys is the difference between retail investors and institutional investors the institutional investors we've been talking about this for at least a year are the ones who are pushing the increase in volume and purchase a supply of bitcoin that has been going on for some time what you and i have been predicting this part as well which is that once you see these new record highs for a big coin now all of a sudden retail investors especially in places like south korea and in china where there is a huge interest in. that and because you're going to see more retail investors who

say oh man i want to get in on this before it goes away the problem is big coin becomes too expensive for a lot of people and so they start looking at the all coins and i think that's why we're seeing more all coins rise the retail market will drive the all coins at this point the institutional money is what is driving because at this point to ben's point jeffrey is that more institutional money than retail is that a good or a bad thing for bitcoin at this point well i would say it's sort of an inevitable thing and by the way to ben's point if i just say something that there are people out there who believe that there's some sort of 0 sum game going on here that's like you know all the games are become comes at the expense of the all kinds of so that's ridiculous there are about 10 times out there that are quite impressive and $10000000.00 the equivalent of penny stocks and if you look at the progress of their market valuation it more or less tracks bitcoin in terms of the release date and the robustness of the network so i think i think we've been dry this is a good good time. and to be looking at some of these other coins and this is

nothing surprising about this and so if you go on twitter you're going to get all the maximalist you know denouncing you and that sort of thing i just again think and with intelligence and clarity there will be competition in the crypto sector that's with us now and it's going to continue and i gotta look into that crystal ball on because i'm catherine callaway c.e.o. of major crypto exchange by nancy as u.s. army sees the current big cornball run as a sign that the crypto assets could reach a price of up to $100000.00 do you believe that she's right and would that actually be a good or bad thing for because at this point he had some point i think that certainly could be the case and the reason for that is because people have to remember that big court has a fixed supply there are no more big coins that will ever be produced beyond its maximum capacity so unlike dollars big coin does have a limit and so i think the value will continue to go up over time also a lot of the folks who are in big point right now are in it for the long term

jeffrey started out by talking about that it's and important point because what we when we saw the real dip in the crash if you will of bitcoin in 2018 it was because of the retail investors who got scared they saw dropping and everybody was trying to get out of it because they didn't have a long term vision and now i'm sure 100 percent of them are regretting having made that decision instead of just sticking it out for what measly 23 years and all of a sudden now big point is worth 10 times what it was worth at its lowest point in 2018 so just think about that for a minute but i do think what we're going to see is yes because it's going to continue to go up but i think we're going to see even in that it is not a 0 sum game that is correct and we're going to see it even out across all coins because you have to remember that big coin the primary value of it is in technology and there's a lot of queens out there that provide technological answers that blocking can provide benefits one boom bust cosen jeffrey tucker of the american institute for economic research they. you both are breaking this down for us today you got.

the united kingdom is the 1st nation to start the rollout of astra zeneca in oxford university's coben $1000.00 vaccine another country says that half a 1000000 'd doses of the vaccine at the british health secretary met hancock spoke monday about the vaccination efforts. it is a very difficult situation in terms of the growth of the virus but then we also have this very good news this morning and it's a real pivotal moment with their arrival actually in the hospitals of the u.k. of the oxford vaccine we've obviously delivered more than a 1000000 vaccines into arms already that's more than the rest of europe put together really proud of how they and i just severely risen to this challenge from

today we accelerate that path we've got from today 700 vaccination sites open across the u.k. by the end of the week it's 2 to be over a 1000. britain was also the 1st country to begin the rollout of pfizer biotechs vaccine despite the positive news on vaccination in the u.k. the latest surge due to a more contagious variant of copan $1000.00 has forced officials to institute new restrictions to combat the spread of the virus prime minister boris johnson addressed the nation monday evening and spoke about the dire situation and a new set of lockdown throughout england. in england alone the number of patients in hospitals has increased by nearly a 3rd in the last week to most 27000 and that number is 40 percent higher than the 1st peak in april on the 29th of december more than 80000 people tested positive for across the u.k. a new record the number of deaths is up by 20 percent over last week and will sadly

rise further than in england we must therefore go into a national lockdown which is tough enough to contain this variant that means the government is once again instructing you to stay at home. you may only leave the limited reasons permitted so choose to short for situations to work if you absolutely can't work from home to exercise to seek medical assistance such as the test to skate domestic abuse. and hundreds of employees at google have partnered with one of the nation's largest unions to organize for the 1st time all the employees are hoping to improve the culture and policies of one of the world's most prominent tech job so what does this mean and how could this affect the future of silicon valley's workforce well

our chief of staff joins us now from los angeles with the story regina thanks so much for being here i how many members have joined the union so far and what exactly are their goals. well brenda the newly formed alphabet workers union named after google's parent company has over 200 members so far including engineers and other white collar workers because it represents only a fraction of the company's 120000 strong workforce it's currently a so-called minority union at least for now but it is open to all members regardless of their role or classification so it's likely going to gain membership now the alphabet worker's union is not going to have traditional collective bargaining rights because it's not seeking ratification through a federal agency some members have told the media that it's not necessary because contract negotiation isn't a top priority higher earning developers and designers already have a lot of power when it comes to negotiating their employment contracts but low wage

earners in the cafeteria or at the assistant or junior level don't have that power so it's going to be really interesting to see whether the interests of all employees are truly represented by the union as they claim or just those of high earners since members pay about one person. and of their total compensation to join the union now even without federal ratification the alphabet worker's union will have power because it's joining the largest communications and media labor union in the us the communications workers of america has a big machine behind it and therefore they have a lot of power to pressure leadership at google. google employees actually successfully organize in the past to make changes within the company. yes they have back in 2018 thousands of workers protested google's work on project maven with the defense department to help the military interpret video images collected by drone surveillance that could then be used in targeted drone killings their collective activism created

a public relations nightmare for google forcing it to terminate the contract in another collective campaign $20000.00 workers staged a walkout over google's mishandling of sexual misconduct resulting in the end of the firm's forced arbitration policy and of course in recent months google has also faced scrutiny over its firing of a black artificial intelligence researcher who criticize the company's approach to minority hiring and bias programs in ai systems and google is also currently being sued by the justice department for violating antitrust laws so that's going to be another area of interest for these union members. what about other tech companies are we going to see efforts to you know other tech sector in the tech sector because of this movement at google. i absolutely think that we will thousands of workers and amazon facility in alabama this week are reportedly thinking now about unionizing workers that other companies including tesla post mates and so on have also considered unionizing in the past but big tech companies have

a documented history of retaliating against employees that organize including fire them or spying on them union members at google say that they're leading the charge here and they're actually laying out the poop blueprint for workers across the tech industry to stand up for. their rights and the rights of society as a whole so we're probably going to see more unions in tack artie's brigitta soto's thank you so much for giving us all the details. thanks frank. and time now for a quick break but here because when we return the tensions between the united states and china are chilling even further as several chinese teleco firms will be lifted from the new york stock exchange as u.s. markets face a sell off in the 1st trading day of the year we'll break it all down and as we go to break here are the numbers at the.

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actually as a financial survival stacey let's learn. let's say i'm not sure i get your theories on greece. thank you for. the story that's right well actually a very. welcome back economic tensions between washed him beijing are growing after the new york stock exchange agreed to the trump administration's demands to you list 3 chinese telecom companies that the u.s. says have military ties during a briefing monday a spokesperson for china's a ministry of foreign affairs took issue with the u.s. government's moves to quote politicize the economic and trade disputes between the

2 nations vowing to quote take necessary measures to respond to the action. china firmly opposes the us politicizing economic and trade issues abusing state power to generalize the concept of national security and repressing chinese enterprises without justification the relevant actions of the u.s. seriously violate the principles of market competition and international economic and trade rules that the u.s. has always boasted of we hope the u.s. side will respect the market and the rule of law and do more to safeguard the order of the global financial market particularly given the rights and interests of investors and contribute to the stable development of the global economy so the chinese government will surely take necessary measures to resolutely safeguard the legitimate rights and interests of the chinese and to price change with china telecom corporation china mobile and china unicom hong kong will all be delisted from the new york stock exchange between the 7th and 11th of this month hong kong

listed shares in all 3 companies saw significant declines early in trading monday before rebounding to close out the day u.s. listed shares in the companies however have declined more than 5 percent each. and for more on this and some other economic and market related news of the day let's go to bring in octavia moran's the c.e.o. of optimists l.l.c. octavia always a pleasure to have you on the show what do you make of this move regarding delisting these chinese telecom giants and how is this going to actually in fact affect investors trading these companies on the new york stock exchange. well it would be ironic to hear that sort of full throated defense of free market capitalism coming from the chinese who are basically complaining about being delisted in new york so that was slightly amusing to see years of the roles reversed i think in some of the real impact for investors who have bought the shares on the new york stock exchange this is a slight pain in the neck it's a slight ministration you have to sell the shares and then by the back that are in

the hong kong listing so. delisting a chinese company from the new york stock exchange is not really going to have much impact or not we're going to have much sway capital is very very immobile it flows across borders very very easily and quickly so those investors will simply pick up the stocks in hong kong i mean investors these days can buy stocks in new york or franc for london or paris or chinese markets it's very easy to do such a pain in the neck it's just an heiress and as such an administrative burden it's not going to really harm these companies are still going to have access to capital and u.s. investors will still have access to those companies to invest and so it's just it's more symbolic than anything else i think is there any way that china could actually make a retaliatory effort that would be a similar action to u.s. based companies or do we not see anything like that. well they can do exactly the same thing because u.s. companies are not jewel listed on chinese exchanges i'm not aware of any u.s. companies who have chinese listing so there's

a lot of chinese companies that have jewel listings in shanghai. and in new york or other markets in the world but has not been the case for u.s. companies so u.s. companies their stocks the trend to be traded in those markets so that they'll do something it's not going to be completely symmetrical it's not going to be an identical sort of tit for tat move where you say you did list decent chinese companies in new york and therefore we're going to deal with some american companies in shanghai it's not going to work that way but i think there comes up some sort of tariffs of trade barriers or they'll make some symbolic move to not lose face and i think that's what we're going to see so they'll do something they can't do exactly the same thing they simply don't have the leverage to do that they haven't got the position to do that and i octavio us market actually they started the 1st session of the new year up in fact the dow and s. and p. $500.00 started the day with record highs before a sell off started with the 3 major indices plunging at least about a percent and a half age before close what happen today. you know i wish i knew the sort of

the wonderful mystery of markets and why they go up and down there you see these kinds fluctuations i mean it would be nice to say the way some people have said is because the coated numbers in the us been spiking up and going up and therefore the nervousness about that but that was true this morning as well so that things did not change that we we knew the code numbers look bad on sunday evening so that should have an impact then it's just really hard to say as just sort of the mood sort of shifted it seems and it's also interesting to see which stocks which things did well so things like gold did very very well today and i screwed up in the price so i think we're seeing is just nervousness about where the market's going where the economy's going overall but i can't have a damn explanation of why it happened exactly at that hour and minute that shift happened that doesn't seem to have been any news or new news right then that would have made that happen you know the footsie actually in london gained roughly 2 percent on monday the 1st set of session post brecht's that are these gains about

vaccine optimism or what should we expect moving forward into this week. well i think the vaccine optimism would have hit all the markets around the world about the same and and the footsie was certainly an outlier stay in terms of the gains that have so i think it's more to do about the smooth bricks at this was the 1st working day that we had bricks it and there were no trucks that was stranded at the borders no borders close no shyness ground so i think people sort of saw breathed a sigh of relief there and said we've made it across the knish lying windbreaks it now and then there's going to be no disasters i mean there were some people saying that once bricks or goes into effect flights won't be able to go fly back and forth between the u.k. and frankfurt anymore because the the agreements won't hold in more so i think people just simply relieved to see that milestone reached and not to see anything terrible happen on the 1st day of bricks and i have a little bit of a semi fun one but i want your take on this now test line out over the weekend it was just shy of its goal of delivering 500000 vehicles in 2020 no this is

considerably more than 367000 delivered in 29000 but tesla has become the most valuable automaker worldwide with a valuation around $700000000000.00 and it's that price rose nearly 750 percent in 2020 so is that valuation when you look at what we did we were going to talk about the show earlier in the show and frankly they're saying they can produce 8700000 cars and sell them while tesla says well we can with all of a half a 1000000 yet they're the most valuable it's all about stop speculation with a big personality at the top i've got about 45 seconds left. well you know i think we're in a very bubbly market right now and is a very bubbly stock within the bubbly market and i think will come back down to at the some stage that being said i think people are counting on just enormous growth in terms of electric vehicles that hasn't borne a self out so far they sort of stuck in single digit fortunes of roads will comment a factious so i think is going to be some disappointment and it's very hard to

justify that the tesla stock price which like $25.00 times revenues at this stage was an outrageous valuation very hard to justify that price looks like a bubble to me octavia moran's the c.e.o. of say thank you so much for linear insight today thank you. encounter an exclusive to failed streaming startup quickly may soon find a new home at roku now according to the wall street journal the united states most popular streaming device maker is looking to buy quickly is short for movies and shows quickly announced it would shut down operations last october after disappointing support for its high quality count that made history month just before the launch in april the world was already quarantined at home looking to stream content to their t.v.'s and usually in a long form to fill the time of the potential purchase by roku would help the company offer its own exclusive content on its streaming channel it's still not clear how much the deal could be worth if it were to go through companies such as

facebook at n.b.c. universal have reportedly already passed on buying quickly short lived catalog. and that's it for this time you get a boom bust on demand on the brand new portable t.v. app which is available on smartphones and tablets through google play in the apple app store by surging portable t.v. you can also be downloading a newer model fame some smart t.v.'s as well as a broken devices or simply check it out at portable t.v. what's the next that. has changed american lives but pharmaceutical companies have a miraculous solution. based drugs the people who are chronic pain patients believe that their opiate prescription is working for them on the remedy be sent to the price that they pay closer dependency and addiction to opiates the long term use

that really isn't scientifically justified and i'll study actually suggested that the long term effects my not just be absence of benefit but actually that they might be causing long term. israel media a reflection of reality. in a world transformed. what will make you feel safe. isolation or community. are you going the right way or are you being led so. direct. what is true what is faith. in the world corrupted you need to descend. to join us

in the depths. aura maybe in the shallowness. judge stung. by refusing to. join the decision is tempted by washington's impending feel his remaining in for to get reaction from one of the songs he's high profile support this. week his supporters have to be saying. he has he's suffered. and he's suffering. which easy.