really. struggle. i. this is very the one business show you can't afford to miss i'm rachel blevins in washington coming out with unemployment claims that hitting their highest point since march tobit 19 earnings recession isn't over yet could there be an end in sight we'll discuss what we're getting a look at the incoming by the administration plan for getting the ground virus back on to the public candid a movie keep the national guard busy after the inauguration is over. china is popping new things on the u.s. this time in a bid to keep washington away from taiwan but what will it mean for future talks between the world's 2 largest economies we have

a lot to get to through let's get started. in the latest controversy over the nordstrom to pipeline it appears eric insurance group one of switzerland's largest insurers is dropping out of russia's project this would make it the 3rd firm to pull out following threats of u.s. sanctions according to reuters the outgoing trumpet ministration is preparing a final round of sanctions on companies involved with the pipeline zurich insurance did not comment specifically on customers but said they have a comprehensive compliance framework in place and are committed to fully comply with any applicable sanctions regulations while the north stream 2 backers said the pipeline can proceed german media reported the group has delayed completion once again the 1200 kilometer pipeline running from russia to europe across the baltic sea is now 94 percent complete. speaking of pie. lines the future of the keystone

x.l. could soon be in jeopardy president elect joe biden will have the authority to cancel the permit for the $9000000000.00 project as soon as he takes office while construction of the pipeline is already underway from canada to nebraska and has hit several road blocks since it was revived by president trump and then concerns from environmentalists and native tribes a judge put a hold on the permit back in april arguing that the u.s. army corps of engineers did not take into account the impact it would have on endangered species but in an attempt to garner bind and support the pipelines developer has promised to make a series of changes which include a pledge to power the pipeline using only renewal energy to complete its construction using a union work force and to eliminate all carbon emissions by 2030 biden has yet to say whether it will be enough. more 4th quarter earnings reports are set to be released this week as investors are eyeing company results ahead of president elect

biden's inauguration although u.s. major indices are closed 2 equity futures and those industries are trading flat over the holiday weekend many are expecting their earnings recession to continue but there could be an end in sight for more on this was joined by michael said so of pent so portfolio strategies and not tabio marandi of openness l.l.c. all right michael i want to start with you here we're expecting a big week of earnings that seems to be the market's focus right now so after seeing a jump in bank earnings last week what do you expect to see in the coming days. well you're already hearing from the by the ministrations of the more regulation on the banks 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 yield her that's right between the low german just rates and the 10 year treasury note we're example now i believe that's going to white now beginning the only new. it is 2nd quarter of 2021

it is spinning lower sure you know oh well interest rates at the range for a very long time remain 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 timeframe go ok this is certainly something to keep an eye on now octavio i want to bring you in here we're seeing unemployment cape claim still hitting nearly $1000000.00 per week in the u.s. yet the market continues to hit new highs is this just a tale of 2 economies that 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 large divorced from the read economy and they're almost entirely divorced from it but i think the only real reason for that is the federal reserve policy is 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

anymore with their actual underlying economics the real game in town is the fed and so everyone 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. certainly all as 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 for the past 3 decades. first of all i want to say how much i love a jovial octavio its name and 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 amount 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 to the beginning of time 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 octavio said it's because the fed is printing a $120000000000.00 each and every month a 1000000000 in treasury purchases and 40000000000 in mortgage backed securities so when they stop when they taper this time it's going to be an absolute disaster but your you ask me about inflation inflation is going to come because we are going to print 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 we really need 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 you 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 2021 we'll have a super spike in interest rates. then i believe it will all come crashing down by the 3rd quarter you know if this school drag on the calamity it was yours didn't make a lot of noise about tapering it's going to crash the stock market it's the 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 us government they are more than happy to continue to print money in order to address their problems knox have you know 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 things and constant repeating 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 the know 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 singh 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 would fall apart there i think you were 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 us 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 oh well i don't think he's origami i think he's making a point that all doesn't dance you know $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 go because it's not like rising real that you think well when the fairways are under richard. you're just told us. say we're 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 core p.c. a bit 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 that point 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 love it sounds

here on t.v. but i can tell you this when the fed pulls the plug on their curie program and starts raising it rinses raise a market is going to crash and you want to be that way i'll tell you 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 tears 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 going to be long but you probably can get out of harm's way. if you look at iran or it wind know the president on 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 a czar is resigning from trump's cabinet artie's turn a child that has joined us from. our attorney why is a 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 reheard the last week that joe biden was releasing his plan for how to address the pandemic moving forward we 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 boosts 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 and flopping new sanctions on washington and the current continued tensions between the 2 countries but will it be enough to keep the u.s. away from taiwan boom bust is back right after this.

well today we're going to talk about what happens when governments fuse together which corporations what happens. somewhere who is assumed. going to be. the new more. human those who just came up with it to get in here that oh. i'm talking is a very international community i. mean it used to try to.

do this together if it is this. need to eat. for the position of the world food needs to look at the business for their nuclear cooperation is everything produced polluted with it in front of t.v. with you of the. 5 they have i would have mexico they did decided not to take the place. with my god didn't tell you that. 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's his face. in the world corrupted you need to descend. to join us in the debt. or a made in the shallows. 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. must immediately stop meddling in hong kong a player saying china's 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 concerned 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 these 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 at all the film bus co-host and investigative journalist ben swan all right ben 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 are probably katie and 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's 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 didn't walk 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 an 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 have 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 la. i own we're going to have to be very they're great insight as always been best 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. that's it for this time you can catch a boom bust on demand on the portable t.v. app which is available on smartphones and tablets through google play and 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. league.

so what we've got to do is identify the threats that we have it's crazy on sunday shouldn't let it be an arms race is on offer and spearing dramatic development the only really i'm going to lose is i don't see how that strategy will be successful very critical time time to sit down and talk. the world is driven by a dream shaped by one person or those. who

dares thinks. we dare to ask.

coming. from the apartment and confused. meanwhile patients who've recovered from. the symptoms were different. one of the things. research is all over the world are trying to determine the many pains and other problems. into numbers. this is throughout the day. just leave for 35 percent of recovered patients. there have been many complaints of vision loss joint pain and fatigue in the us

these patients are referred to as posed. i talked to multiple doctors in my doctor and they said 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. in the day's headlines politicians in germany are at loggerheads on the crisis as public support for tougher restrictions on the. local mayors and friends spent their anger over vaccine shortages and would just call back and we heard from one of them. remains being and this is just a joke you have to go get the vaccine. and. also this hour health officials in california warned against using a large batch of monday in the town after a wave of allergic reactions.