2019 left off let's just hope we stay safe and healthy whatever next year may bring . back our turn with the latest for you on our top stories in half an hour's time don't forget that you can check out more of our news coverage you had told website go to r.t. dot com. 2021 are going to c.n.n. staying so naaman on point 21 you know america has been exporting its inflation and china for 20 years and now china's caught up to america and now all that money printing that's been going on for 2025 years is going to show up as real a place and.

this is boom bust for the one business show you can't afford to miss i'm going to bore in washington coming up supporters of president donald trump have flooded the streets of washington d.c. as the nation's congress was set to officially certify the 2020 election results in a few moments we're going to take you to the scene with boom bust ben swan and the marches come on the heels of a surprising result in the georgia senate runoff possibly giving democrats control of congress and of the white house moving forward sure ahead we're going to bring you a comprehensive breakdown of the results and how markets are reacting plus the ongoing china does the listing saga continues as the new york stock exchange has flipped yet again professor richard wolf is standing by to operate is insight on the recent

crackdown on chinese technology from the u.s. government would back show today let's dive right in. and we lead the program here in washington d.c. is thousands of supporters of president donald trump have to send it on the nation's capital the save america rally as it's being called comes of the united states congress was set to certify the 2020 alexion results wednesday formally declaring joe biden as president elect. the trump campaign has filed dozens of lawsuits in 6 battleground states since the november election claiming widespread voter fraud these suits have since been thrown out by judges in those states to take a deep look at the action boom bust co-host an investigative journalist ben swan is on the ground and filed this report but i see that is before you settle. this stuff all the people involved will sometimes converge on washington d.c. we're talking about the if they were states that we could get 3000000 people to the

members of their loyalty that we have locked down all the way through this crowd and it's easy for the closer you get to the white house the more didn't become group of what the russians are going to do you can see just the seat of the people behind me right now the question really becomes a major question that people will hear today is these you have to get us in a numbers of killers who are going to. challenge and some of the electoral votes looks anything to call gestate we don't that's going to be the case but the question is have a change of culture that one of the things that we see happening for the people that talk to. these. children there is to make their voice heard that they. could disagree with the selection of people to do the things people do that they are something that should. be fair and. they want to make sure they're going to kill and challenge this that's happening is there's a the president was talking all day to this massacre he's not here to help the

kitchen staff to say such things what's he saying that will take states senators states like pennsylvania want to do this or leave it to face the boat load of course you. played chicken run with it it's not going to get us we want to get the goods are you talking to people that the big question was what did. you do what. well that's what you think about it mostly to tell you that they don't really go up to them to say they want to be the 1st to make sure that everything if there was nothing there left or if there were hooks to the big things is that the way it is founded on this land bill and it's not that kind of political play of the question i will tell you this it's also fascinating to see just the sheer should the people have to work on prison a truck or it is

a bit of the culture from texas from illinois from people that you know rhode island people from this is going to say getting something or a line of it there in their state flags. and these are the. 6 any people show up on a day with a built in audience of the change but they want to make sure that they're very seriously and that they believe that election was there and they want to do something about it and they want to do something not just about what's going to happen to. all u.s. troops let's do something about the thing and get it up to. somebody else to get it out here and i will tell you that. most of these this enough i did talk to one guy who said there are people in the media who want to say that we're trying to get the longest days but that's not he says this is what it's like going to be

a good experience here. now there is also a lot of attention on the election in georgia where it looks like both the senate seats up for grabs could go to democrats no democrat raphael warnock is projected to win his special election runoff against senator kelly loffler while democrat john also is leading republican senator. but purdue in a tight race which they are saying is still too close to call for more of this we're now joined by legal journalist molly barrows contributor with america's lawyer molly thanks for being here and covering this for us before we start you know on the implications for these elections as we just mentioned also purdue race is still too close to call but john also in current senate minority leader chuck schumer they've already declared it a victory for democrats what's the latest so as of about 45 minutes ago it's looking like more and more that's definitely to be the case is very likely brant

going to be produce that's about 98 percent of the precincts reporting so far he's got over 50 percent of the vote so it's looking like he's going to be declared the winner of course we know warnock is the winner so this is got huge implications for the democratic party that's according to the latest results if they do do actually walk away with wins in both of these contests you know even if he were to win by actually the thing i can tell you is that even though it's still too close to call he is favored to win and if he does win it looks like it's going to be by enough of a lead that there won't need to be a recount and what does all of this mean for the balance of power in congress. it's going to be huge i mean the implications are pretty powerful especially for the democratic party i mean the republican party has controlled the senate for the past several years and it's going to determine what kind of a senate president elect democrat joe biden and house speaker nancy pelosi have will get to work with so the current balance is about 50 republicans and $48.00 democrats meaning that whichever way these 2 seats go they'll decide which party

controls the upper chamber of commerce now democrats will win both seats and it looks like they will that will split the vote evenly and tie votes would then be broken by vice president tamala harris as senate president what she is sworn in so if republicans had managed to hold on to even one of those 2 senate seats we know it hasn't been called yet but that would provide the government with a buffer from being completely under democratic control so we'll see how it goes. how does this critically controlled. impact biden's presidency. he's going to need it in order to get anything at all done i mean you see what happened during the past couple of years any sort of legislation that came out a democratic controlled house really went nowhere so with a georgia victory that blockage would be gone and that's good news for biden's extensive agenda doesn't necessarily mean that everything will get passed but from health care the environment government reform the economy at least it will have a shot of surviving the house and maybe get an up or down vote in the senate so these 2 runoffs were pretty expensive as well as i think we may be talking about i

was going to say these are actually the 2 most expensive senate races in history why was that and how much was spent in this in this race. yet so much was at stake i mean both parties really spent some serious cash and were talking like almost like in a presidential race the amounts that were spent so together they and their supporters spent 800 and $30000000.00 i mean that's the kind of money you saw spent on the presidential elections a few years ago so that number is actually expected to go up bryant once this post-election reports are turned into the federal election commission the race between purdue and oh soft as the most expensive in the state's history and the 2nd is loffler in warnock's contest so extremely expensive tons of money poured into it and it looks like the you know even when they raised money the democratic candidates raised a ton more than their opponents but overall in races across the country the g.o.p. the republican party really poured in a lot of money but in this particular situation doesn't look like it's going to

come out in their favor in georgia and you and i have both worked in local news rooms at local stations and we know somewhere in a survey in a georgia market there's a young salesman driving around a bentley after these elections standing there games with traders cheering the prospects of additional figure fiscal stimulus to discuss let's go ahead and bring in a muslim chief market analyst at every trade and boom bust co-host christine is back on the program to you both for being here christine i want to start with you know we've heard so much about how when for democrats would actually be bad for markets in the economy but what are we seeing with things actually going up wednesday after these 2 seats appear to have gone to democrats. well things are kind of going up it's not exactly going to straight line it's more of a routine schenn because right now and the term supergirl and value names are going to outperform a democrat run will certainly produce more power behind these higher rates trading

so the 10 year treasury top one percent for the 1st time since march would really help the banking incenting morgan bank or america whose shares are up a can of soda or cent today and that's why today you also see the dow climbing about 600 points in the s. and p. had been over 1 7 percent while the. tech heavy nasdaq is still lagging behind early in the day it was down by more than one percent as investors worried that a democrat controlled congress would lead to higher taxes and tighter regulations on these tech giants so many traders have now started to book profits until gains oftentimes best performing in its last yes just facebook amazon netflix where all i'm a true 100 percent today. on the down cyclical name that looks a lot cheaper right now so it's definitely a bit of our attention in the equities as traders kind of position where the new year and the new administration so basically if the democrats prevail in the near term and take the senate we should expect another big stimulus package to pass so certain stocks are rising on that expectation by additional government aid such as industrial giant caterpillar who surging over 7 percent today and solar names are

up where 11 percent so goldman sachs right now is canceling out about an additional $600000000000.00 in additional stimulus followed by a limited amount of tax increases and spending increases later on in the year to finance on this bank of america however is meant more aggressive and is forecasting an injection of between $2.00 to $4.00 trillion dollars in deficit spending so no matter why it looks like the u.s. is set to descend into this cycle of monetary hell so i have more money is printed it will begin to accelerate the pace of the u.s.d. depreciation that will begin in 2021 and then i am how do you think the markets will react to this blue sweep it even if it is by this narrow majority that we just talked about will we see dramatic change or will be more moderate leaning democrats act as a check on these progressive agendas what about the actual economy overall which is different than what we see in the stock market there's definitely a disconnect between the economy and markets. i threw around me let me just share some breaking news we just became on time you know but now officially it is

official according to him but that's and it is control of don't know what it's not really me as you was on this was saying the quality policies will be dictated by. democrats and that means more fiscal support whom forward in 202101. but 2020 gets what you want to recover you need to move higher because of the fiscal and monetary policy support now you have seen now given the fact that this policy support is going to go up into a high year so. that's what i hear scott market how well our what if i had one important thing. on t 20 the number of bankruptcies already at least not just that it's the highest level since 2009 the financial crisis is now companies

are sitting on the largest debt so the have been able to award who are as of the pandemic cause great risk by inflating their balance sheets being extra debt this debt is very much like a poison for these companies and what am i expecting perhaps with another possible lock down because you know in the u.k. we are facing a 3rd of national opt out and in biden's presidency there are chances that perhaps we may see more groups strict mushers or possibly international law after that happens you bet that bankruptcy number is going to go through the roof you know kristie when we talk about lock downs in the pandemics effect on the economy private payrolls in december contracted for the 1st time since the early days of this pandemic you break it all down for us. now after a few weeks of dollar's claims going up again and over 20 americans still on

unemployment rolls and last had already anticipated a ferry a week 75000 rise in employment from a.t.p. in december however the saying is that number ended up being a lot much much worse with a.p. reporting about 123000 drop in employment which is the worst since april so you have a large and small businesses in this loss in jobs in the services and hospitality of the share in transportation sector is that all the biggest drop in jobs as large swaths of the u.s. economy has shut down once again to combat the combat spread so new restrictions have nasha down restaurants as outdoor eating has become less practical with the colder weather setting so companies have laid off a net of 19400000 workers in april and have recovered only 9.9 $0.10 so a large franchises such as disney and mary are they have also announced large inductions in december so the only industries that are still seeing slight girls there in professional and business services and educational and health services so now new jobless claims likely broke back about 800000 as we await thursday's be

clear what is really concerning is that right now new jobless claims during the survey week spike to a 3 month high of nearly 900000 so the momentum has weakened significantly and that will likely persist in the near term as they come in just continues its terry from the shutdowns and a slowdown in and here's where the fun starts a bit coy has been continuing its rally actually crossing $36000.00 for the 1st time what's contributing to this rally and where can it go from here. well i mean right now it's those through into our hearts about it it was a stretch what can it go from here i think that the next major target but the number which is going to make them have to be $50000.00 it's not 40000 years it is pretty 1000 and we already know major street institute such a stupid mortgage the any $100.00 there come up with their own pretty to where they

believe that along to a mile you can go as high as 146000 and we all know with respect to bitcoin there's cassadine with respect to demand a buddhist practice supply you cannot preach you cannot have more but quite the quantity is already agreed now what we really need he seen among investors especially among situation in message is what we called for more this city they've been sitting on the silence for a very long time now of course some of them. to get involved into the market and then they've started to increase it and put when you look at shoot from one percent to 5 percent but they blew the rest of the which had been sitting on the sideline i think it took a 6 or so supply is where you must limited now demand is obviously coming in institutional side so i think it is a good time for us to get involved and that particular factor the fact that the believing that this is another there are risks of as it were in which can be

classified as restore of value is greatly pushing the process tight kristie i give you the final word yet about 30 seconds. well right now as to where it's going to go once proposed that there is a cold parity valuation where gold is just at the supplies us at about 12 trillion dollars so that's about 20 times greater than the market cap or quite today which is currently at all time highs $604000000000.00 so basically ensure that the value of work to reach parity with the price of coal it would have to increase to about 6 $100000.00 which from here seems absolutely unthinkable but that's also what we thought of that began 2021 point 24000 dollars and look where it is now. chief market strategist at every trade co-host christine thanks for breaking it down. thank you thank you dr chan shut up for a quick break but hang here because when we return the ongoing china delisting saw that continues as the new york stock exchange has flipped yet again professor richard wolfe is standing by offers insight on the recent crackdown on chinese tech

companies from the u.s. government and as we go to break here the numbers of the close. has changed american lives but pharmaceutical companies have a miraculous solution. based drugs to people who are chronic pain patients believe that their opioid prescription is working for them and the remedy be said to. price at the. close of 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 might not just be the absence of benefit but actually that might be causing long term. so what we've got to do is identify the threats that we have it's crazy one from day shouldn't let it be an arms race is on very dramatic development only mostly i'm going to exist i don't see how that strategy will be successful very critical time to sit down and talk. because of financial for long johns today was all about money laundering 1st to visit this cash industry different. oh good this is a good start won't we. there are 3 banks all set up here maybe something in your something in america something overseas in the cayman islands or do we do all these banks are complicit in their tough talk received a soft ball and say hey i'm ready to do some serious money laundering ok let's see

how we did while we've got home got a nice laundry watch for max and for stacy oh beautiful jewelry how about. luxury automobile again for max you know what money laundering is highly illegal for a bunch of guys record. now welcome back another day another escalation in tensions between the u.s. and china on the technology front president donald trump signed an executive order today banning transactions with 8 chinese apps now the order includes and groups payment app ali pay as well as cam scanner sherratt tencent q.q. or $10.00 cent q.q. q.q. wallet we chat pay the may and p.s. office now the executive order says a quote aggressive action must be taken against developers of chinese apps to

protect national security interests the commerce apartment has $45.00 days to decide which specific transactions will be banned under the executive order a spokesperson for the chinese foreign ministry weighed in on the move wednesday saying quote this is another example of the u.s. bullying arbitrary and had to monic behavior the us is overgeneralizing the concept of national security and abusing its national power to unreasonably suppress foreign companies which is detrimental to itself and others the relevant measures will certainly have some impact on the relevant chinese companies but more importantly they may damage the interests of u.s. consumers and the country for more on that let's try to bring in professor richard wolfe host of economic update and author of the sickness is the system when capitalism fails to save us from pandemics or itself professor wolf always a pleasure what do you make of this latest move by the trump administration

regarding these chinese apps. well it to the things i find remarkable the 1st is that a president who sat with 14 days left is passing on the border about a star in debt and take up the 45 day in other words this is an order has absolutely no power no wait makes absolutely no difference because everybody involved the york stock exchange the chinese know that a new government is coming in long before any of this action will in fact be taken so i think of this mostly as more political theater scapegoating the chinese so that the american people suffering from the terrible depression economically and from that i am damage as some foreigner to get angry at you are the 1st to have a trump he wanted us to get angry at immigrants now he wants us to get angry at the

chinese he's been doing that it's mostly the this is the 2nd. government were out with large private companies a country that developed at 1st was the united states we had the biggest military establishment in the we're all. kinds of waves with general motors general dynamics general electric apple google maybe it wasn't countries were to take the quality of the trump mega straits or they would be sanctioning our companies because of the relationship between them and and good friends of our newest country nobody does that we are the only one that's in the we're all and we are a nice of the punishment against and of course the world sees this as a deterrent to go after in an aggressive way trying to escape konami and that has

not succeeded in the last 40 years and i see a row chance for it to have a more success in the future you know you make the point about whether this is going to happen as the president where hit in the sunset on his presidential term just 2 weeks left before the inauguration of president elect joe biden and it reminds me that a couple of weeks ago we spoke with our friend john quelch from the miami her business school who made the point that maybe things won't change between the relationship between china and the united states so much because you know the democrats have actually been critical been criticized because they're not hard enough on china from the left and frankly he said that this may be a little bit of a a favor to the by administration do you see the biden ministration pulling these back or does that does he keep these in place. i think that might mean ministration from the little i can gather just having a debate already and one that will likely continue between those who think that

what trump is trying to be more of our war was a terrible mistake the last 40 years 30 years i've seen the bench truth the united states ever had at a time when an act that we were trying to not bring the chinese would benefit from abuses well this was a very useful collaboration and they don't see why that should stop now especially that gets dangerous with competition that could become military on the other hand as from a miami point it out there are those who believe that the chinese are up and that the united states or to in some way slow them down 1st is really this effort to slow down is sort of weak as never were the british you know and tried to stick around when we became an independent country look how that worked out we were a colossus there are some. climate of that colossus the chinese are not going to

change what has worked really well for them in order to what common date summer we should in the united states what rate of economic progress they should so i think it's going to be fought out very quickly and i don't think mr trump's aggressive actions which are mostly verbiage are going to help the situation and i want to hit on this quickly and i really got to get a yes or no out of this there has been an ongoing saga regarding the new york stock exchange this week on monday it announced the big board willis chinese telecom companies in accordance with a white house executive order and then on tuesday they said no we won't do that after we talk to regulators that when they apparently they spoke with treasury secretary steve and they said ok we will do this on terra level i mean is this confusion just what's happening during the trip administration with these policies yes or no because i do have to go. yes complete chaos in the white house it has

been on your sheen 3 hours and the rest 10 days are we going to get you to somebody else. this is a lame dog and this is the way the lame duck professor richard walsh host of economic update thank you so much for your insight today thank you. and that's it for this time you guys boom bust on portable t.v. check it out app or double dot t.v. we will see you next time. backscatter survival guide ecstacy just want to start saying that all this is. the sure there are you going to get it back. next year. oh heck no it

says a repatriation team will get the rest in 7 years. philip a separate kaiser report. has changed american lives but pharmaceutical companies have a miraculous solution. based drugs to people who are chronic pain and believe that they're ok prescription is working for them on the remedy he said to. price that they pay closer dependency and addiction to opiates to long term use that really isn't scientifically justified and i'll study actually suggested that the long term effects might not just be the absence of benefit but actually that they might be causing long term.

i. was. 4 people have been killed in clashes that broke out one donald trump supporters stormed the capitol in washington the president elect's and the incumbent reacted to the violence in different ways threatening the safety of duly elected officials to stop protests which insurrection we kids play.