anker earnings last week what do you expect to see in the coming days what you're hearing from the by the ministry should there be more regulation on the banks on short term that might hurt banks but the main thing you have to worry about when you worry about what banks will be earning is the deal to curb that spread between the low term interest rates and the 10 year treasury note for example i believe that's really going to white now beginning knowing into the 2nd quarter of 2021 that is spinning low it's sure you know low low interest rates at the 0 bound range for a very long time for many many years to come and yet i see a super spike in the 10 year treasury no all the way to 2 percent from where it is right now on c.n.n. so that's going to be very good for bank earnings going out in the you know 3 month time frame going over ok this is certainly something to keep an eye on now octavio i want to bring you in here we're seeing unemployment claims still hitting nearly 1000000 per week in the u.s. yet the market continues to hit new highs is this just

a tale of 2 economies one of the stock market and one of the job market here what say you. well i think it's a question of sort of the stock market being largely divorced from the reed economy and they're almost entirely divorced from it but i think the only real reason for that is the federal reserve's policies in terms of flooding the market with the criticism that has gone straight into the stock market the bond market and driven those prices through the roof and so the valuation of companies has little to do any more with their actual underlying economics the real game in town is the fed and so if you want watching the fed seeing what they're doing how much more money they're going to pump in and how long they're going to do it for and as soon as that ends everyone's going to be looking for a chair to sit down on the last one standing is going to lose out so once the fed stop printing all this money and sausage jacked up interest rates again who knows when that will happen then be it might be a few years into the future we will see these markets correct quite sharply i believe so certainly all our eyes all eyes are on the fed right now now michael

last week fed chairman jerome powell repeated his stance on keeping interest rates low and having an average inflation rate of 2 percent for the u.s. dollar won't miss it ever be possible especially when americans wages have remained stagnant for the past 2 tag gave for the past 3 decades. first of all i want to say how much i love. i agree with everything he just said you know there's nothing more misunderstood on wall street than inflation ok right now you have a tremendous not inflate of inflation in asset prices look at stocks bonds real estate is matter of fact the average market cap to g.d.p. ratio going back from the beginning of time till today is about point 6 we are now almost 2 times the market cap of equities is almost twice the value of the underlying economy and it's just like not to be oh say it's because the fed is printing a $120000000000.00 each and every month a 1000000000 in treasury purchases and $40000000000.00 in mortgage backed securities so when they stop when they taper this time it's going to be an absolute

disaster but you you ask me about inflation inflation is going to come because we are going to bring. 4 trillion dollars more this year than we did last year we already printed 4 trillion dollars under president trump's last year in office we have already by the dozen even sworn in so it's negatives 3 days from being sworn in as well as $1.00 trillion dollars in gold really and right behind that is going to be almost 2 trillion dollars this will stimulus package money is going to go just to wall street and soon to go also in the form of checks being mailed to consumers directly and that is the most unproductive way oh growing your debt you have a massive increase in unproductive and be all monetized by the fed if you get inflation it's 2nd quarter 2001 you want to have a super spike in interest rates and then i believe it will all come crashing down by the 3rd quarter you could have

a fiscal drag on the calamity it was there was going to make a lot of noise about tapering it's going to crash the stock market is that look like a lot like my $987.00 and then you'll come back down again lather rinse repeat ok and notable prediction there and it certainly does seem like whenever it comes to the u.s. government they are more than happy to continue to print money in order to address their problems now octavio it seems like more countries are motivated to shift away from the u.s. dollar right now according to a recent financial times report the european commission said quote global financial markets are too reliant on the u.s. dollar to cushion financial tensions instability risk is this something the u.s. should be concerned about right now. well i think people been talking about the u.s. dollar losing its status as the world's reserve currency for some time the fact is it still is and it doesn't look like anything terribly better to put your money into as a reserve currency so the euro is hoping to take that role take on that mantle and

do that i mean i did read that report that they put out any it was kind of embarrassing to read i thought it sounded a bit like a bunch of 3rd rate salespeople trying to encourage people to buy your. basically saying you should go out and buy some more euro's you should hold your nose as your reserve currency and that's much special thanks to a constant repeat of that mantra of course they would like to be in the same positions the us be able to print money as quickly as the us nor far behind but the us does have an advantage there of all as a reserve currency so i don't think the us dollar will be pushed away any time soon any alternatives i don't know what people to turn to the euro the yen bitcoin i don't know that there is no other game in town really. though. i am like i was. saying things that we've might find mutambara saying thank you so much for the complements of my name and i'd like to return the comment i did actually read your book back in 2013 about the coming debt crisis and how things will fall apart but i

think you are saying that about gold as well i must say i'm heavily into gold that's my largest position is gold but i think you have to admit it was been somewhat surprising how long the u.s. have been able to hold on and carry on this game it's i think caught us by surprise a bit now ok michael what's your response i want to give some. of these are going to be at least making a point that all doesn't dance at $16000.00 an ounce what this in dollars outperformed the s. and p. $500.00 since the year 2000 and i toggle my after an act of strategy so you know i sell gold and i go sometimes i'm completely flat but right now only a 5 percent because it's not like rising real that you think well when the fairways are under richard. you're just told us. they were not going to raise rates. intil we have a 2 percent rate from station for an entire year that's the way the fed measures it the core p.c. the flater me my god if you have 2 percent per year on the court later you're talking about

a real rate of inflation probably close to 8 percent if not double digit so you're probably going to get inflation it's in the come from the fed monetizing treasury that you know you have the unholy alliance of the treasury and the fed now so you've got to you've got to own some gold you don't like bitcoin but i tell you this you better have an active strategy because you will want to be short stocks when they cringed roots you know center octavia was there anyway it's a beautiful name 1st name last name is all beautiful to me it's not real of italians here on russian t.v. but i can tell you this when the fed pulls the plug on their q.e. program and starts raising it rinses raise a market is going to crash and you want to be aware that when i are talking i'll send it back to you is there anything that the buy an administration can do or even will do to strengthen the reliance or the confidence in the u.s. dollar right now. well i think they're going to do their very best to try and undermine that so i think they're going to be spending a lot more money and we're going to see michael pender's theory really put to the

test here and see how quickly they can really engineer an economic crash they're going to be spending a lot more money they're going to be doing things like raising the minimum wage quite aggressively they're going to be forgiving all sorts of debt and creating all sorts of new debt so it's going to be interesting for years i will say that i agree with with with michael's assessment that once the fed starts increase interest rates things are going to look really bad but the real problem there is that everyone else is watching that as well so soon as it even starts to look like the fed is thinking about raising interest rates people get a run for the exits and they're going to run at the same time so that crash is going to happen sooner and harder and far less likely. is right and i have 2 years that's why am i my model i have an inflation deflation economic cycle model and look at why we're is. they will give you the advance warning that you need i can be long but you probably can get out of harm's way. if you look at iran or it why no president of those topics that we could talk about all day long but we're going to

have to leave it right there michael planned to append over 4 e o strategies and our tommy armor and the of openness i'll say thank you both so much for your time thank you thank you very much. as the nation's capital prepares for president elect joe biden's inauguration the incoming administration is providing more details for a plan to vaccinate 100000000 people within 100 days and in the middle of the pandemic in this transition health secretary alex aides are is resigning from trump's cabinet artie's turn a child that has joined us from. our attorney why are they is our stepping down right now. that's right rachel well in his resignation letter says president trump's actions and rhetoric have tarnished the administration's legacy the letter which was obtained originally by the new york times reads the attacks on the capitol were an assault on our democracy and on the tradition of peaceful transitions of power that the united states of america 1st brought into the world

now is our plans to leave his post on january 20th when president elect joe biden is sworn in president trump though he will not be attending he is scheduled to leave the white house just hours before the inauguration rachel now charity we heard the last week that joe biden was releasing his plan for how to address the pandemic moving forward where you remind us of some of what was included in that. absolutely so president elect joe biden plans to hit the ground running as soon as he is sworn in on his 1st day with a pandemic and unemployment being top priority he says he wants to distribute 100000000 vaccines in his 1st 100 days in office he also has reiterated his plan to sign an executive order to mandate masks in all places where he has the authority to do so meaning all federal properties across the country and interstate travel companies like trains and airlines the president elect also says that he will invoke the defense production act to accelerate the manufacturing the materials needed to administer the cove in 1000 maxine he also plans to deploy fema and the

national guard to set up and build vaccine clinics across the country in addition getting the word out about immunizations will also be top priority mean that he we will start to see t.v. commercials and billboards messages radio and social media ads as a part of a public information campaign to rebuild the trust in the vaccine he also recently rolled out his ambitious 1 point one trillion dollar stimulus proposal called the american rescue plan and here's what's in it $1400.00 stimulus checks to eligible americans increasing the federal unemployment boost to $400.00 a week extending a and p. c. programs through september extending the federal addiction memorandum until september creating a $15000000000.00 grant program for small businesses outside of the paycheck protection program $350000000000.00 for state and local governments outside of the vaccine distribution and other code related items and increasing the national minimum wage to $15.00 per hour but this plan still needs

a legislative approval rachel. thank you. time now for a quick break but when we come back beijing is flopping new sanctions on washington and can continue tensions between the 2 countries but will it be enough to keep the u.s. away from taiwan buses back right after this. case is awful. ok. then a 2nd wave coming now the virus is mutating and walk 2 blocks away from the apartment and i would get confused as to holiday gifts not. meanwhile patients who recovered from cove it started to report some unusual aftereffects the symptoms

were different but. my hearing has been ok i think. one of the things i like research is all over the world are trying to determine the many takes pains and other problems and then turn it all into numbers showing my hair. was. 1113 there this is throughout the day my hair just. various sources reports that didn't just leave for 35 percent of recovered patients. so. does the bush. just there have been many complaints of peril vision loss joint pain and fatigue in the us these patients are referred to as post coded long holos i talked to multiple doctors in my doctor and they said we have a feeling that you're going to have a hard time in recovery you're going to be one of those people that they consider a long haul or.

the world is driven by dreamers shaped by one person with those words. no dares thinks. we dare to ask. it seems inevitable the new security regulations fast into law in the wake of the events on capitol hill the original depraved act was made to legitimize the

so-called war on terror with the patriot act 2.0 focus on domestic care and how will the u.s. and change the e.u. once chose you know. so we were. going to. give you more. of those you just can't stuff it up with a big idea in your career that oh. i'm talking about is a very international community i. mean it used to we're going to fly. to the city of. new orleans. for the pollution of the world who used to cook in brazil so their new country. is everything produced

polluted with the forms of t.v. with the above the. cars they have and with a hectic. but i decided not to take it like. we're going to tell you that. china is now saying it will impose sanctions against certain u.s. government officials after the trumpet ministration lifted restrictions on its relations with taiwan a spokesperson for china's foreign ministry said the measures are being taken against those who quote behaved badly and harm china's national sovereignty the u.s. most immediately stop meddling in hong kong if they are saying china is internal affairs on their various pretexts and stop endangering china's national security

and not go further and further down the wrong and dangerous path the so-called fact sheet is just another list of lies concocted by the u.s. side to fully reflecting the attitude of concern to u.s. politicians putting public safety aside for their own selfish interests this regarding life defying science indulging in promoting conspiracy theories and eagerly spreading political viruses means measures are just the way to skin an ongoing conflicts between the u.s. and china that has become a hallmark of the trumpet ministration so joining me now on the couch all of us co-host and investigative journalist ben swan. let's start with where beijing stands here what has caused so much anger on their side. yeah if you listen to those that you just played they had a whole list of things they were angry about right but what this really comes down to is the fact that about a month ago my pompei o secretary of state talked about the u.s. relationship with taiwan which as you probably know is that is

a huge issue for china right so the united states has for the last many decades at least 40 years really not had a normalized relationship with taiwan that they have something they call the one china policy which we just centrally recognize that china is as one official government taiwan of course as they are the actual official government of china there's a whole dispute between china and taiwan over this but what the troubling ministration has done for the last few years is they have in many ways normalized a relationship with taiwan that other administrations have not normalized so for instance selling weapons directly to taiwan that is a very new thing the trumpet ministration has been doing and now talking about what might come pale what talked about was kind of setting china aside and having these direct communications and relationship with taiwan in going around beijing to do so and that makes the chinese very angry and so essentially what the chinese have said as a result of that is you don't have a right to do this you are embarrassing china you are damaging our relationship by

doing this you're probably catering and therefore we're going to impose sanctions on u.s. officials because of this it really has been interesting to see how the trumpet ministration a sort of gone where the u.s. hasn't gone in decades whenever it comes to relations with taiwan and that's likely while we're getting some of those fiery comments from china and response now a big question surrounding these talks and sanctioning u.s. officials of course involves the who so who exactly is going to be sanctioned here . yeah that's a great question and the answer is i don't know nobody knows because all that was said about how u.s. the u.s. officials would be sanctioned those specific u.s. officials were actually mentioned in all of this which is fairly interesting that they didn't list any individual so i wonder if this is not a bit of a bluff. you come out and you make these statements with only what 2 days until you have a new administration sworn in you know president elect biden will become president on wednesday and what does that mean what means that your entire administration is

about to turn over so the fact of the chinese did not name names indicates to me that what they're saying is in preparation for the next administration that's incoming we're going to let you know right now that if you continue these policies and if you continue to deal directly with taiwan instead of going through us if you reverse course on this one china policy that as i said has been in fact in decades and that's not to defend the policy by the way it's just been in effect for decades if you were to say if you can decide you're going to continue to do this by the administration then we will take action against specifically named individuals where in your administration i think that's what they're doing ok so is there any indication at the by an administration is going to kind of pull back when it comes to a lot of what we have seen trying to do specifically with china and taiwan or is it looking like biden is going to kind of do what a lot of us presidents have done and just carry on the same policies as their predecessor what say you so that when we talk about u.s.

presidents carrying on the policies of their predecessors that can only really apply when the predecessors and those who come after are essentially believing in the same policies right now as you said a minute ago diverted dramatically from many of these policies and by the way that's what you can argue the trump has so much support from the republican side of politics in america he redefined the republican party by going way outside the norms of what politicians normally do and some people to like that and some people adore it so that's why there's so much division over him but the problem that biden is going to run into is that going into obviously this particular election season season there was a lot of discussion about hunter biden and his relationship with china and about joe biden and his relationship with china so the question becomes do you keep these policies and. place that china does not like and are critical of orders by the walk of those back quietly because you know there's going to be a lot of criticism if he does that perhaps biden is beholden to that chinese

authority or it certainly has been interesting to see how a lot of republicans and trump supporters have been quick to label him as beijing by then but we'll see exactly what he does when he gets in office now let's turn it back to china and their economy they have posted some very strong numbers to indicate that they are now growing faster than their economy was even before the coven 1000 pandemic what's happening there. lots happening. the chinese economy has actually increased by 2.3 percent in 2020 now that is actually the slowest it's increase in 1976 but what's remarkable about it is that it increased at all we're watching economies all around the world including here in the united states that has significantly significantly contracted china's economy managed to actually grow through 2020 now there's a couple of different reasons for that the biggest is that china responded very quickly to the coronavirus in terms of getting their operations back online so while here in the united states we've had

a lot of talk about shutting down the economy china has not kept their economy shut down they restarted the supply chains as quickly as possible and they have really focused on developing relationships around the world and getting products from china into places around the world so one of the things that china did that the rest of the world did not is they did not lock down for long it was a very short lock down and they did not stay in lock. i own we're going to have to be very at their great insight as always boom bust co-host and investigative journalist spencer thank you so much for your time. it's weird. richard branson virgin orbit says it has successfully launched a rocket carrying satellites completing its mission the launch on behalf of nasa featured a customized boeing 747 with a rocket which fired into orbit from 35000 feet this was the 2nd attempt after a failed attempt months before the satellites will help perform a variety of missions from weather observations to cleaning up space debris virgin

orbit is a sister company of richard branson space tourism company virgin galactic certainly a lot to look forward to. i ride that's it for this time you're going to catch a boom bust on demand on the portable t.v. app which is available on smartphones and tablets through google play in the apple app store by searching portable t.v. or simply check it out as part of all the t.v. the next time and as always don't forget to question more.

is you'll media a reflection of reality. in the world transformed. what will make you feel safe from. the isolation little 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 shallows. you become

a battleground in the us is our moment people are demanding the shutdown of a local plant from yankee is right now my focus because it's a very dangerous. oh no clare powerplant the owner is attempting to run the reactor beyond its operational limits this case just sort of puts a magnifying glass on where's the power in this country where's it going is it moving more towards corporate interests or is it more in the idea of a traditional participatory democracy as powerline with the people this case demonstrates that struggle in very real ways a struggle. some rumors as soon as you proceed through she's going to be known chris mihm. you may.

remember if you just can't stop for a bit if you care that oh. i'm talking is a very international community. media used to live only truthfully. it just doesn't exist this. need to eat. the pollution of the world food used to cook the brazils food or nuclear cooperation in antarctica is everything produced polluted with it if one comes to do with the above 30. 5 they have i would expect to go back but i decided not to take people's life. with my gave you that. this will taste awful like absolutely are ok 1st game code then

a 2nd wave is coming no the virus is mutating and i walk 2 blocks away from the apartment and i would get confused as to how he gets not. well patients who recovered from covert started to report some unusual aftereffects the symptoms were different but. my hearing has been ok i think. it's one of those things where at like researches all over the world are trying to determine the many aches pains and other problems and then turn it all into numbers show you my hair. but if you like your date's 1113 there this is throughout the day my hair just. various sources reports that didn't just leave for 35 percent of recovered patients . so. does the bush white. house there have been many complaints of peril vision loss joint pain and fatigue in the us these patients are referred to as post coded long hole as i talk to multiple doctors and

my doctor and they said we have a feeling that you're going to have a hard time in recovery you're going to be one of those people that they consider a long haul or. make no certainly no borders just lying to nationalities. as a muddled up with the we don't look like seeing the whole world needs to be. judged as commentary crisis that is christensen's modern times we can do better we should . everyone is contributing way but we also know that this crisis will not go on forever the challenges created the response has been much so many good

people are helping us. it makes us feel very proud that we're in it together. over the vaccine program aiming to more than half the country's population why the end of the year. following a wave of allergic reactions california holds the nations from its. jobs. and job and plaques state department with a bomb a year of veterans some with a chuckle record when it comes to military interventions. next max and stacy look at the bets for street is emerging on the continuation of unrest in the u.s. we're back in half an hour with the latest headlines to join us again that.