i. this is bimbo us the one business show you can't afford to mess i'm rachel blevins in washington coming up fight is nominee for treasury secretary uses her confirmation hearing to call for the poor for a 1.9 trillion dollar coronavirus relief bill and the markets are reacting to the hope of a new stimulus what the vaccine race is in full speed but the w.h.o. is lower income families house and all that forgotten as the world's wealthiest received millions of doses. the boeing 737 math is set to return to the skies in europe and canada but will it be enough to win back public trust and help to growing out of one of the worst years on record we have a lot to get to so let's get started. here in the u.s. all major stocks are up on tuesday following the senate confirmation hearing for

the next treasury secretary nominee janet yellen used her time to call for support for the 1.9 trillion dollars stimulus package that is being championed by the incoming administration needs to presume to look. relief package. krishi ation for the clinton. right now we've been true street to distort. the smartest thing we can do is act big in the long run i believe been fitch heat for it costs. so joining me now to discuss the latest our boom bust co-host christine and partner and director of trading research and education for the market gauge group michelle snyder michelle i want to start with you here let's talk about yellen testimony what were the highlights and key takeaways from her time before the senate. well the market would be most interested in hearing some of the points that she made 1st of all yes the stimulus which

steadily helped keep the market high today she's talking about $1400.00 then another 100 $400.00 in unemployment benefits she wants to try to get the rate the employment rate or the unemployment rate down to 4 percent and so there are critics came out and said that she was more concerned with mainstream wall street but in terms of wall street itself certainly can't deny that dollars stimulus is still a good thing in terms of the taxes which is another thing that people are really keeping in to she did say that the taxes would not be repealed from the 2017 bill completely and that they're not even really examining at this point because the pandemic is really the priority and getting us through that obviously she really wants a focus on the vaccines as well as the stimulus and so in terms of the fair and progressive tax code that she talked about i think people will be looking to see what she does in terms of corporate taxes she's going to be looking at a local and state governments and how they're doing with the current tax code and

then she also talked about some spending which would also impact taxes particularly on infrastructure manufacturing and research development and that's not just for the idea of improving the country but for creating more jobs what i thought that really was interesting was her lack of concern about the debt because what she said was with the rates speak to at near 0 essentially the total interest burden relative to the g.d.p. is actually very very low and so she's not concerned and she also said something that i thought was really clever which is the idea of issuing a 50 year bond and that would be used to fund the debt so i feel like her her statements were a knock us enough obvious obviously basically based on what we're hearing about stimulus and then she covered a little areas like the dollar she said she was going to allow that to have a free market type of value. she's not going to try to lower it any she would still want to deal with china particularly the electoral property theft and that she made

an interesting comment about crypto currency that she's concerned about illicit financing there so overall i don't think there was any great surprise but the market here is stimulus and right now that's what it's responding to now that's a great breakdown of this hearing and i know all eyes will certainly be on the stimulus and then of course there are the questions about crypto currency now kristie i want to turn it over to you earning season is swinging into full gear as 43 companies in the s. and p. 500 will report how our sentiments and expectations going into those earnings. well right now it's kind of a mixed bag but then i meant appears to be pretty strong and are coming off the back of a better than expected q 4 recovery so consensus currently but firm to report an atheist group of negative 11 percent by restrictions hopes the growth of the global sector so margins are forecasted to contract by about 160 minutes to 9.5 percent in contrast to cyclical you have companies healthcare and tech earnings that are

expected to grow to a one percent respectively consumer discretionary is also projected to grow 6 percent which is the largest of any s. and p. $500.00 sector as household continue to hoard stay at home they will like previous earning sessions investors are less concerned with how these companies performed and rather their forward looking and to seeing what kind of trajectory the recovery will look like in 2021 so with ultra loose policy still remaining the key driver for corporate profit the 2021 analyst mark anticipating upward revisions in the near future so the specific lea goldman analyst the resource is a potential upside that may from operating leverage which currently stand at the highest in a decade modern cars and the growing weight of high margin industries in the s. and p. $500.00 k. tech so tech names are still expected to deliver rapid growth and represent the largest share of a given exposure to long term secular trends so today you had bank of america and

goldman sachs boarding where b. of a profits fell 20 percent and revenues fell 10 percent as trading at income mix expectations due to weaker performance as a macro product a market of goldman sachs on the other hand beat the top and bottom line on strong performance of the firm if we traders and bankers the goldman bankers in particular have benefited greatly from the surging demand for i.p.o.'s and a record of debt insurance and 2020 as companies race to short liquidity in the market and your sense of the focus seems to be not on what's happened over this very unprecedented year but over what the trajectory is. moving forward now michel turning it back to you still mantis the merged auto maker of fiachra eisler and group p.s.a. jumped alive in percent in its new york stock exchange to view on tuesday should we expect to see more mergers in cyclical sectors in 2021 as businesses consolidate operations to weather out this pandemic what say you. well let's look at the

advantages in the disadvantages of them doing so the one of the advantages of course for large corporations is that they get better gak says to capital they get more say over regulations in that type of environment and yes exactly what we would figure they will be able to weather downturns better and so for that reason alone we might see more in the future there are expectations some of the key factors involved with that are the vaccine rollout how that's going to be whether or not we're going to continue to see is more stimulus behind the recent package that they're trying to push through what interest rates do and also the particular companies valuations and also the other thing that's really interesting that is emerge this year and is getting more and more popular of course is these special purposes acquisition companies these acts which has actually have a more favorable restructuring and then to a straight m. and a which the disadvantage of those could be sometimes antitrust issues or becoming more conglomerate which is something we saw back in the sixty's when

a lot of these corporations came so huge and divested so much so i'd say it's a mixed bag at this point i would say more if that makes sense but if you take a company like office depot that was approached once again by staples they said no and a lot of that had to do with the valuation and the fears of the antitrust so we'll see a lot of it is a we'll see but yeah i would expect more particularly maybe in the biotech space as we go forward. we'll see it certainly seems to be actually what everyone is looking at there where you have to leave it right there big great insight as always kristie i'm michel snyder thank you both so much for your time. the biggest vaccination campaign in history is now underway with more than 40000000 doses of the coated 1000 vaccine being distributed to dozens of countries but there are concerns that those who need the vaccine the most aren't getting it there has also been a lot of backlash over precautions being taken in the workplace to keep employees

from getting well a little too close to each other in fact at least one factory in france is planning to give its workers special necklaces or dog collars as critics are calling them that alert them when they're not socially distance so joining me now to discuss just all is legal journalist molly barrows contributor with america's lawyer now molly let's start with the vaccine most medical experts agree if it needs to get out quickly in response to the spread of the corona virus and to its various strains so why isn't it getting out to everybody right now. i know rachel it's so important that everybody get a shot at this vaccine if they're going to get it and it's just not getting to all the people that it needs to and the short answer at least according to the head of the world health organisation is money it's the people that can afford it they're the ones that are getting it and really it needs to be distributed equitably throughout the world he said especially to keep up with the different strains that are emerging and that sort of thing and of course it's the poor people in the poor

countries that are getting the least out of the 10s of millions of vaccines that have already been administered nearly all of it has gone to wealthier countries and just $25.00 doses have been given in one of the poorest countries so he said the per our priorities need to change those most at risk in all countries need to be targeted and prioritize like the elderly and health care workers rather than younger healthy adults and wealthier countries who can afford it so these basically calling on different countries those that have you know side agreements with pharmaceutical companies and others to say hey don't stockpile your vaccine spread the wealth give it some of us here at the world health organization will make sure it gets to the people who need it so you know we'll say it's been somewhat somewhat interesting to see who's getting this vaccine and who has and who isn't it especially when all eyes are on getting the vaccine out as fast as possible and that will be interesting to see if those comments lead to any significant changes now how is the rollout of the vaccine going so far here in the u.s. and in other countries. right it's somewhat chaotic isn't it you're seeing in

a different approaches to rollout and different in different countries certainly been chaotic in the u.s. and some blame the trumpet ministration and they're hoping that things will improve when biden takes over tomorrow and maybe implements a more stable reliable process that's seems to be what he's really focused on like 31000000 doses so far have been delivered to america but less than 40 percent of been used and by the same once he's in office he's going to give out 100000000 shots a day starting tomorrow so we'll see and dr oz he says that we're also weeks away from approving potentially emergencies for 2 other vaccines we've got 2 in rotation now 2 more one from astra zeneca and another from johnson and johnson so if we get more vaccines and they start getting a more reliable process for exam delivered then maybe we'll see more people having access to these shots at least the ones that we've got so far and of course it's been delivered to more than 50 other countries and being rolled out in different ways but in the u.k. the government there because they're dealing with a huge outbreak they want to give a 1st dose of coke in 1000 vaccine to every adult by september wow ok well i know

here in the u.s. we're always coming out whether or not the new boss is going to be able to do better than the old boss moving forward now of course we have also heard some people have reported allergic reactions to the vaccine including in california where the rollout of the dearness vaccine was actually paused after reports of possible or jerk reactions last week what's the latest on these reactions we're hearing. so when it comes to these reactions a lot of it's people that are already having allergic reactions anyway are prone to them and in this particular situation it was like a lot of 330000 of this vaccine doses of this vaccine and it went to almost 300 different locations like 280 some odd locations only one location fewer than 10 people had allergic reactions so in an abundance of caution as they say they told people not to give out any more doses that clinic but in the short amount of time i have left though you know you talked earlier in the lead about how the different steps that countries were also taking to to make sure that people you know distanced themselves from others and you mentioned the company in france and i know

we're short on time so i want to mention that not only are the people sometimes opting out of the the vaccine the vaccine rather because of the allergic reactions or whatever their concerns may be you know a lot of people don't want to wear their masks in this country this company rather in france a hygiene company from switzerland is having their employees wear a necklace they're ordering these necklaces where basically little buzz or make an alarm if they get too close to each other and the unions they're going no super bad idea you're treating our workers like they're babies and they don't have a sense to say away from each other and they're protesting that and the companies saying no no it's just a way to you know make sure that we can do contact tracing if they if exposed and you know but the union people are saying that's not true either because they don't necessarily have to be you know the necklace doesn't collect their data doesn't track their location so it was a crazy solutions to keeping people safe and they will be interesting to see if those necklaces are dog colors for her on the world molly barrows thank you so much for your time today. talk over whether big tack has too much power

and what can be done about it has captured headlines for the last few years now with the biden ministration about to take office there are big questions about the candidates in line to take over the ongoing anti-trust investigations into some of the most powerful platforms in the world so joining me now to discuss is boom bust co-host and investigative journalist been swan now ben it looks like there are a couple of candidates leading the way but they have some deep connections to big tech is that correct. yeah exactly the problem i mean the main of these is renate hess she is a former justice department official who worked with the obama administration about a decade ago she worked alongside senator ted cruz specifically to help google and some of google's mergers she had worked on those she also assured amazon through the merger with whole foods and the acquisition of whole foods look the bottom line is she is a big tech insider she has worked for years to help big tech companies get bigger

and now the word is she is leading the way to be the assistant attorney general specifically over antitrust rachel which would mean that this is the person who would have the most authority in deciding whether or not to prosecute antitrust cases is also someone who's worked for those same companies to help them get bigger wow interesting interesting choice there i know we've all talked about this antitrust investigation under the trump and ministration and there is a lot of bipartisan support not just in congress but among state attorneys general to break out some of the features of these big companies so what say you can buy an administration squash that or do they have to make the moves to appease some of the people within that circle who you would think 'd there would be a push as you said a bipartisan push right republicans and democrats both democratic members of the of the f. to f.c.c. both are looking for and the f.t.c.

by the way are looking for a breakup of google and some of these big companies including amazon there is there are multiple investigations as you said across the country almost every state in the country has joined in on this lawsuit against facebook specifically over antitrust violations google is being currently prosecuted by the justice department over this the obeid in the ministration though and this is what's important for people to understand is currently being stacked not just a couple people here and there it is being stacked with former employees of microsoft of apple of google of facebook who are coming over from big tech and. working in key positions we just talked about one also there's talk that the some of these former lobbyists for big tech are going to work as the chief of staff under under president biden so we're looking that big essentially stacking the deck in their favor the question is how does the biden administration choose to do nothing because remember much of what they are elizabeth warren and bernie sanders

saw their kind of profiles rise nationally over the last couple of years was because of talk about breaking up companies like amazon and google and the monopolies that they pose how does out as the ministration completely ignore that without having to deal with serious chaos within the party if they choose to just hand the reins over to big tech don't know how they do it and really be interesting to see what the by an administration decides to do and really what they get away with over the next 4 years we're going to have to leave it right there ben swan thank you so much for your time. thank you. time now for a quick break but when we come back the boeing 737 max is set to make its return to the skies in europe and canada but how do the losses from 2020 stand to impact the company in the long run and as we go to break here the numbers out the close.

like absolutely on your 1st game coded then a 2nd wave is coming now the virus is mutating walk 2 blocks away from the apartment and i would get confused. meanwhile patients who recovered from code 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 aches pains and other problems and then turn it all into numbers show you my hair. you appear to be 1113 there

this is throughout the day my hair just. various sources reports that couvade didn't just leave for 35 percent of recovered patients. so you don't pull the push. just there have been many complaints of peril vision loss joint pain and fatigue in the u.s. these patients are referred to as post coded long holos i talk to multiple doctors and my doctor and they said we have a feeling that you're going to have a hard time of recovery. you're going to be one of those people that they consider a long haul are. kind of financial survival john that it was all about money laundering 1st to visit this question just a different. oh good this is a good start well we have our 3 banks all set up here maybe something in europe something in america something overseas in the cayman islands or do we do all these

banks are complicit in the rights of congress to decide to give mccoll and say ok i'm ready to do some serious money laundering ok let's see how we did while we've got a nice luxury watch for max and for stacy oh beautiful jewelry and how about. luxury automobile again for max you know what money laundering is highly illegal thank you so much kaiser of course. is you'll be a reflection of reality. in a world transformed. what will make you feel safe. isolation community. are you going the right way or are you being led so. what is true. is faith.

in the world corrupted you need to descend. to join us in the death. or inmate in the shallows. the demand for travel has hit historic lows over the last year and now despite an increase in traffic around the holidays airlines are still desperately looking for ways to overcome an estimated $157000000000.00 in losses that are expected to be the cost of a covert 1900 pandemic this comes as the boeing $737.00 max is making its return to the skies and europe and canada with bans on the aircraft officially being lifted just 2 months after the u.s. did the same so joining me now to discuss it all up and down the stage are the

communications committee chairman with the allied pilots association now dennis let's start with boeing the 737 max is expected to resume flights in europe and canada within the next week we saw the u.s. lift its own ban back in november so do you think we will see a continued trend of countries sort of putting their trust back in boeing. i think it will we've been at american i'm some 37 pilot and them have gone through the simulator training and we started flying in on december 29th i just happen to look at the loads and we see nearly full airplanes through my m. in mccarty where it's flying so i don't know if it's it's going to take time to regain our trust and bowling. we have been assured of the design changes they've shown us this these changes on the m. cast which is what really killed people on both aircraft and not a moment passes we don't remember them and their families but it's the process in

the process fully that aircraft with regulators other than the f.a.a. has been critical to this and now we'll watch. the european f.a.a. and acadian f.a.a. . ground that aircraft and it's important to note that the the europeans and canadians have both are going to allow their pilots to perform a checklist procedure that the f.a.a. is not allowing us to form it doesn't have to do with the m. cast as to the very destructive stick shaker that many people have heard of that after you have a malfunction an erroneous airspeed an airplane thinks that it's stalling but it's not after we deal with that we would like and every other pilot union in the world has asked the f.a.a. to approve us pulling a circuit breaker turning a switch off on that stick shaker that is erroneous lee going off it's very very distracting i just went through the simulator they can get it done but it's a great challenge and it's an unnecessary distraction and the europeans and the

canadians have stopped they realize that that's worth the small amount of time it takes to hold a circuit breaker yet i'll definitely be interesting at the u.s. decides to follow suit there now one of the biggest frustrations with the entire $737.00 that scandal was the fact that there was such a lack of accountability for a company that was clearly negligent when it came to. ensuring safety and of course to listening to the pilots who force their concerns yet at the same time boeing's production hit its lowest levels in 50 years and 2020 is there any indication that such a trend will lead to any lasting changes i mean i know you've talked about some of the processes that they've been going into but doesn't look like boeing is doing anything beyond that well they have to frankly for the long term they're not going to regain the trust that they need. boeing aircraft my entire 3 decades career and i do trust what the engineers put out but on this aircraft it appears that they

spent a little more time looking at the spreadsheet than the design sheet that's been fixed we see the. congress both the house and the senate have been very stern in their investigation and what they've found it's been sort of it's been surreal and a d.o.j. just recently announced a deal where they have deferred agreement some amount of money 2000000002500000000 dollars. i'm not sure you know i'm a pilot like many of the other men and women that fly for american airlines not sure how that works but. we're going to continue to watch this clearly if there were a couple individuals that went off range and and didn't said things that we've all seen that's a problem but just like on my aircraft when things don't go well with my crew i'm the one held accountable and i'm the one call to explain what happened in your insurer never happens again so perhaps the corporate board rooms

a little bit different than the cockpit yeah it really is interesting to see how the public has kind of gone back to looking at boeing especially with this scandal with all of the news reports that we have seen about the issues with boeing now i know american airlines specifically and southwest of kind of gone back to working with us on 37 max but do you see the public as being as quick to go back to those planes in the long run. i think so we're seeing that now our pilots i've gone through the training that most of our pilots will be done here by the end of march and we've had no reports of anything while actively flying of issues we're watching it closely i found the training to be. just what we needed and we didn't go just through the m. cast and how it's newly designed but all the other systems that were at hand and checklist we went from an hour long i pad course when they rolled this airplane out where they were trying to avoid pilot training in the simulator that you could have

done it starbucks 2 and 40 pages of documents now we have a quadruple that we have 2 hours a simulator an hour and a half of computer based training and one on one instruction so it was night back then it is now day and i feel confident flying the aircraft because i'm trained and now i know what's on it when great inside is always are going to have to leave it right there captain dennis k. gerri thank you so much for your time. thank you richard. 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 there are google play in the apple app store by simply searching portable t.v. or check us out a portable dot c.v. was the next time and as always don't forget to question more.

nuclear power become a battleground in the u.s. in vermont people love demanding the shutdown of a local plant from my yankee is right now my focus because it's a very dangerous oh no clare power plant the owner is attempting to run the reactor beyond its operational limit 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 is or powerline with the people this case demonstrates that struggle in the very real ways though a struggle on o.t. . the world is driven by shaped by one person or those with.

the day or thinks. we dare to ask. right now there are 1000000 people who are overweight or obese it's profitable to self frenzy and sugary and salty and addictive it's not at the individual level it's not individual willpower and if we go on believing that never change this obesity epidemic that industry has been influencing very deeply the medical and scientific. terms of what's driving the obesity epidemic it's corporate profit.

in our headlines this hour shopping centers food calls even an opera house just some of the places moscow residents could be vaccinated as russia wrapped up its coronavirus vaccination program. and germany extends and strengthens cobra destructions nationwide is the country steps up its fight against the pandemic. don't try to spend his last night in the white house washington d.c. has been turned into a militarized zone hours before joe biden's inauguration as the next u.s. president. i guess is a pretty lame answer but in doing so they've lost a lot of pretty much the whole downtown.