sending the read for scene information that's what that's a problem behind these big tech platforms that's what has never it's never existed before because we've never been at technological point that we are today where we can feed and inflame groups of people with information that is not true at all it's a good point we've run out of time here but you know what we have in this day and age is that we're all the products ok and that's a very pathetic thanks that's all the time we have want to thank my guests in new york city bank and in los angeles i want to thank our viewers for watching us here at r.g.c. and it's time to remember the girls. so we were. going to be.

among those who just came up with a ticket did you hear that oh. i'm talking about is a very international community. meeting yesterday to try to play. with this. new orleans. there's a push for them at the expense of the business for their new christmas. is everything because he was deluded with the forms of t.v. with the above the. head that would affect a bank but i decided not to take his place. with my gift and tell you that.

i. this is boom bust the one business show you can't afford to mess i make of love and then washington coming out with a new president comes new hopes for a more stimulus and the markets are ready but will me and coming by and then ministration deliver will discuss. with fears over a new mutation of the current a virus spreading quickly a landmark study shows that one of the top covert 19 vaccines on the market may be just as effective then as working from home becomes the new normal in the tech industry triggering a mass departure from major cities that are now being left behind we have

a lot to get sued so let's get started. the 46 president of the united states has officially been sworn into office amid what can only be described as an unprecedented time here in the nation's capital and now gratian day is typically marked by hundreds of thousands of americans coming together to witness the day's events but with around $25000.00 troops deployed to the streets of d.c. this city has been transformed into a ghost town the incoming joe biden ministration is now pledging to get to work amid pressure to pass the next stimulus package as soon as possible our team is john heidi has the latest from the national mall. was a pivotal moment in america's history with the transition of power on a cold windy but beautiful day certainly much more subdued and scaled back event because of the coded 1000 pandemic generally in past inaugurations the national mall behind me would be full of people this year it's full of flags as far as those

in attendance for the inauguration and members of congress plus one former presidents but certainly a much smaller crowd. and then in the past that said joseph our biden spoke for about 20 minutes being talked about america unify he talked about democracy being valuable democracy being precious and democracy ultimately prevailing perhaps one of the most divisive and divided times in our country's history. we want to conserve. constitution of the united states or hold many congratulations with the. word guarantee that democracy is precious democracy is fragile. and at this hour marred friends democracy has prevailed and security has been incredibly tight with $25000.00 national guard troops on the streets of d.c. in the what's called red zone the area in and around the national mall and the capitol that was shut down in the days and actually in more than

a week prior to today's an auger ation as there were concerns about extremist threats about protests breaking out riots breaking out so far it has remained calm even leading up to today's events but president biden also talking about defeating not only the cove in $1000.00 pandemic which had an effect this year on on the scale back affair but also defeating extremism and white supremacy in america it was a speech underscoring as we kind of already knew an expected unity in the united states as i said at a time of incredible divisiveness perhaps one of the most invited times in america's history joseph biden 46 president of the united states and his vice president connell harris certainly having many challenges ahead at the national mall in washington d.c. john hardy r.t. . joining me now to go further in-depth on what we can expect from the next president and of course how the markets will react are boom bust co-host christine

and professor richard wall host of economic update and author of the sickness is this a step professor i'll start with you here. or the biden administration is pushing for what they call the american rescue plan which would cost $1.00 trillion dollars and include another round of stimulus checks state and local government aid and an increase in the federal minimum wage to $15.00 an hour is that enough to rescue the american economy at this point well to give you be honest answer that i wot i want to preface it by saying this is a much better program that anything i'm on the books for the trumpet ministration a lot don't want to shortchange that but to be honest in an answer i think the level of our problems one of the worst economic pressures in our history coming together with one of the worst public there's extra's in our history simply requires really more international. than what they are considering and i don't see

the not i don't think for example it really goes after the inequality that is why not only our economic problems but the very good prices in this that we have seen around us so i worry and i'll be watching closely to see what my 1st reaction is you're going to have to make up your intervention and what you're contemplating to deal with the problem you have. and certainly many americans are calling for some sort of intervention right now now kristie there seems to be a lot of optimism in the markets for the incoming president in fact biden has seen one of the best stock market rallies in nearly 100 years ahead of his inauguration is that any indication of what we could see over the next 4 years or is this just typical election frenzy. a lot of it is frenzy this really isn't any indication of the next 4 years a lot of this recent rally has more to do with the fact that since november

elections we had a handful of vaccine rollout with a high reported efficacy from pfizer and madonna those announcement came out shortly the week after the elections which helped to bolster hopes for a near term economic recovery from the epidemic so more so that in the actual results of the election i guess biden can take partial credit for the rally that we've had because as we've said before the market and the real economy they've completely diverge so the stock market is short sighted and thrives off of earnings demureness and with biden off a tremendous amount of hope but really stimulus plans that will support the economic recovery and bolster earnings growth so the $1.00 trillion dollar relief package proposal helped to boost sentiment as the number came out into the higher end of the range of expectations so when the market hear that then they will pick up and that able be distributed to all the hard hit industries those names will rally the other half and biden plan to do then coordinate masback nations to get the economy open again quicker which also this is the markets but i don't think

this is any indication of what will happen over the next 4 years because this rally right now is really bubblicious and it's pricing in all of this in this we should expect from the administration as well as the perfect economic v. shaped recovery so what then will happen when things don't go according to expectations what happens when this money runs out what's the plan going forward to boost employment again or is helicopter money and direct payment by humans here to stay for ever right now the market pricing and forecasts and expectations of a huge rebound but what will happen if that fails to materialize yeah that's a really good point and certainly there are industries across the board that are all waiting on that stimulus and wanting it to succeed and to see how that then impacts them moving forward now professor there are plenty of risks that come all with that stimulus plan that we're expecting to see from the biden ministration one of those of course is inflation but many think that this will only be temporary is

there any risk that it could be longer than expected. but always that risk you know where where the money goes is the question the helicopter money flooding our economy with money has so far not had an insulation in the so-called real economy but it has produced the very inflation in the stock market that we've been talking about that's where the money goals that's where you could make a quick call if you buy or sell the stock at all either price later with more money coming in you have a reasonable chance of it back but there again you're whitely in the quality chain percent of americans who only percent of the shares they are doing all well and good but the mass of people aren't and that in the quality is it's only factor that's understood or else the fear of a disappointment is exactly what we will experience just right harass us

temporary left and the resulting decline from the more basic problems of the a come now that's a great point as well especially in a year where we've seen unprecedented levels of the rich getting richer and then of course the poor getting poorer now kristie i want to bring in oil prices here we saw that they rose about $56.00 a barrel on wednesday which also appears to be tied to these hopes of a new administration and a new stimulus plan is it too soon for what seems to be all of this optimism that everything is just going to go back to normal within the coming months. yes a lot of it and optimism that things will go back to normal that business activity and consumption will recover which will boost the demand for oil but right now today's price fluctuations actually more so on the supply side because biden is expected to take measures to curb the u.s. oil and history including me and trying to pare kind of court canceling

a permit for the he's done x. our crude oil pipeline and also causing arctic drilling to lead ministration is adopting a heavy pro green energy and anti fossil fuel farm and that is going to mean higher prices for oil at the tighten the on the demand side got really right more than most of the support will mean more growth which will in turn lead to higher us oil demand so with tightening supply and rising demand the oil market is likely to remain at the high deficit in the 1st quarter at least which will boost prices within the coming months but i think for things to actually go back to normal not as quite a stretch of economic activity isn't going to rebound that quickly like for one definitely isn't going to pick up as travel and leisure activities are still super depressed driving as decay is has decreased as work from home is still in effect so i think we don't have a long way to go before there's any sort of normalcy yeah exactly even though the government says that they're ready to get back to normal that doesn't mean that the people within the country will necessarily now professor i want to bring in china

here at they just announcing sions i guess more than 2 dozen here in the u.s. including top members within the trumpet ministration like secretary of state my pump a.o. all over claims that they violated beijing's national sovereignty so do you see this as a feral farewell to the trumpet ministration or as more of a warning to the biden ministration. i really think it's exactly both of those things it's a list quite in shock to the drum as they call home pale has gone literally over the edge with the kinds of things he said so it's logical to pick on him in this situation as usual id per concert the reality is it's a 3 year 2020 the struggles with china china was the trade wars did much more damage to the united states than they did to china and china is the only major economy growing in the year 2020 we are shrinking their foreign direct investment

in china fell by 4 percent during the 1st half of 2020 it fell by 61 percent here in the united states this is a war that is hurting us more than them they can wait us out that much more things that the united states would be a real change of policy or back to where we were and work it out do what the chinese leave for their development do what we need for ours otherwise we're in no rules rules situation because history teaches us that trig morris' have a nasty habit of sliding into military or and i don't need or want to speak about what that might be there that certainly is the case now kristie quickly what's your response to those latest sanctions from china i think it is a warning shot and looking ahead it will seem that biden will have a very tough time we building and trying to find a middle ground moving forward with china without appearing to be giving and are

being too soft as kowtow has he so often criticized for you know i will certainly be interesting to see exactly what the by administration does on this one but great insight as always been best co-host christiane and professor richard well thank you both. turning now to the latest in vaccine news russia has officially filed its sputnik 5 for registration in the european union the russian direct investment fund which finance the world's 1st registered coded 19 vaccine confirmed that a review was conducted by the european medical agency and a decision is expected by next month this is just the latest in russia's campaign to make the sputnik 5 available worldwide as of right now the vaccine has been approved in several countries including argentina serbia and bella ruth the u.s. has been a top critic of the russian vaccine as it looks to capture the european market with its own alternatives from pfizer and mcgurn. speaking of pfizer new research

suggests the coated 1000 vaccine it developed with biotech is likely to be just as effective against a new mutants strain of the corona virus that was discovered in the u.k. this according to a study conducted by the 2 companies which found that there was no biologically significant difference in neutralize ation activity between the laboratory test on the latest strains and the original corona virus that the vaccine was designed for the new mutation of the virus which was discovered back in september is said to be even more rapidly spread and easily transmitted this appears to be the 1st study of its kind of the efficacy of a vaccine against covert 19 mutations. time now for a quick break but when we come back as many in the tech industry continue to work from home they are now leaving the big cities they once needed and those cities are warning of the consequences we'll discuss it all next and as we go to break here is

the numbers at the close. thanks. nuclear power become a battleground in the us in vermont people love demanding the shutdown of a local plant from yankee is right now my focus because it's a very dangerous oh no care 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 power line with the people this case

demonstrates that struggle in the very real ways a struggle. is you'll be via 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. directly. what is true what is faith. in the world corrupted you need to descend. to join us in the depths. or a maybe in the shallows. the

city of san francisco is now struggling with a mass exodus of tech workers thanks to the crowded virus pandemic. in fact san francisco's leaders are now warning that the number of workers leaving the city thanks to the option to work remotely could have a severe economic impact so joining me now to discuss it is boom bust co-host ben swan and jeffrey tucker editorial director at the american institute. ben let's start with you here what is driving this exodus and how bad is it yeah it's pretty bad there's been some research that's been done since the coronavirus pandemic lockdowns began and what researchers are essentially finding is that there's been a decline year over year of apartment prices by about 25 percent now what they're finding there's something called out migration is that people are moving away from

the city and moving away from expensive places like san francisco what's interesting is that based upon the numbers that researchers are seeing what they're finding is these are tech workers who are leaving people who work in silicon valley who work for twitter and for facebook and many of these kinds of companies because they don't have to physically be in an office so they're working remotely but instead of staying in places like san francisco where the cost of living is let's face it godly they're moving to other parts of the nation where it's much more affordable but what's also interesting about that is that california and san francisco specifically are cities that have oppose extremely strict lockdown measures and so as a result of that you have many different service industry workers restaurant employees so long workers who have been unemployed so they have been unemployed they haven't been able to work meanwhile you so they don't have the money to stay in their apartments meanwhile you have all these other tech workers who are leaving the area so it's a bad situation for sure and now these cities are reaching out and saying wait a 2nd we've got to do something here there needs to be some remedy now jeffrey for

many workers there is going to be a desire to not turn back here but do we know how many companies like facebook and twitter might go back to required locations after the pandemic is officially over. i don't know about required but by the end of the year you can look forward to the harvard business review and all the top management books saying point out that people are 30 percent less productive when they're remote that we need to go back to collaborative work back in the office it's going to be like this but you know as dense as everybody's moved people are moving. mad demographic shifts based on the promise of the people can continue to be digital no ads i mean 3 of the top cities have people are leaving are in california and the other 2 are you wouldn't be surprised no chicago or new york and they're moving to all the states that are that are not locked and hoping to continue to remote work but yeah i think companies are going to realize here pretty quickly if they want to stay competitive that they've

got to put back together their their work spaces again and that i expect is going to be the big new trend by the end of 2021 and it could be that a lot of the people that are moved are thinking you know i'm pretty over a pretty happy over here in dallas and atlanta and this is pretty climate of south carolina i'm just going to stay here and and start a new business or find another place to work for locally so we're going to see a lot of job term turnover in the tech industry and all industries throughout the next trial date 2 months ok so we'll certainly be looking for those studies that talk all about workplace productivity and how we need to be brought back together all of it after all of this now benefit all lot bigger than just san francisco and then just tech companies we're seeing this happen across the united states and really across industries as i correct that's right yeah absolutely it is listen there's a couple of interesting statistics one is and this won't surprise you 99 percent of employees say they want to continue to work from home. that's not surprising to

anyone right because most people are going to say it's a better situation i don't have to commute i can you know do a lot more personal stuff but the truth is most employees are not doing more personal stuff than they were when they were in an office they're just doing. stuff in a different setting than they were when they were in office but the other thing that's important is that you have a lot of businesses that are now stepping away from the real estate costs and say well why were we buying huge buildings to house employees and why are we all in one location is so many employees can telecommute to work so there is some of that now there are other studies i should mention some that say the productivity among workers doesn't really change depending on whether they're in-house or not but the most interesting number to me of all silicon valley companies have threatened to cut the pay of employees who decide to relocate to other areas because they say well you're not living in san francisco so we shouldn't pay you as much because your cost of living isn't as high $1.00 has nothing to do with the other i should

be paid less money to be a the same employee that i was living in san francisco if i'm living in wyoming the 2 should not correlate and yes some companies are trying to make them right especially if the quality of your work doesn't diminish based on where you are then you would think that your salary would still be the same but that's right of course those companies may think otherwise now jeffrey what all does this mean for realignment ever urban areas nationwide. you know i'm very worried about i don't you know right now you're seen. occupancy rates of commercial properties and and residential properties in new york just are far lower than what you're is going to be advertised by your real estate agents or the places themselves are actively hiding how many openings are i'm expecting a dramatic deflationary pressure to hit all these cities and in california new york chicago it's going to be dramatic a lot of these properties as we continue to reopen the economy over 2021 are going

to be bought by large businesses conglomerates probably a lot of foreign companies and that sort of thing so it's going to be a huge and dramatic shift the new interest in and just getting away shrum from some despotic mayors and crowds and just simple find your life it's a big movement in america right now a big shift and it compares to like 19th century levels of demographic change and it's going to change a lot about the economics of the country just quickly. i just rented 2 hotels one in new york and one in dallas the dallas prices of hotels was was actually about what you would expect or even higher new york shockley low is like maybe 2 thirds less than you would expect to pay so you're going to see a room redistribution of capital and wealth over the coming couple years wow interesting interesting thing i have is here is impacted that now 'd and then i

want to go back here because i know we've talked about employees leaving some of these big cities but we're also thinking number of companies that we mean these big cities as well do you see that as being the new trend moving forward oh absolutely look at what jeffrey just said about these despotic mayors and governors and all the states of people that you are musk are going to move out of places like california into places like texas places like florida florida is seen in a mass influx. people from new york and along the east coast who are sick and tired of not being able to sit down in a restaurant and they're getting to those places and what were important things if you are in the mood to start a business right now and you're looking for cheap space to rent or landlords who are willing to do more for you now is a pretty good time to do it you've got a lot of inspired landlords who are willing to do a lot for you is what i'm hearing in terms of helping you with with costs of taking you know 1000000 dollar projects and giving back half a 1000000 in terms of making your your space nice because they're so desperate to have tenants around so you know that sometimes there's opportunity when you have

moments like this and i think for some people it him yeah absolutely and it is interesting to see how you're sort of seeing that move towards states that don't have a state income tax or that are more willing to work with some of these companies will really be something that we're going to keep an eye on moving forward and i'm sure we'll be talking more about it in the months to come ben son jeffrey tucker thank you both so much for your time thank you. much like anything done online these days on line gaming is expected to grow to $2800000000.00 by 2022 in india the southeast asian countries economic economy rivals that of the united kingdom their report by deloitte india says that thanks to the rise of smartphones and cheap data online gaming could be as much as 5 percent of the entire media and entertainment industry on top of this the pandemic has helped increase the total time spent on gaming apps by 21 percent last year gaming research firm new zoo

estimated there are roughly one 3rd of the planet's entire population plays mobile games. i bet that's also all of you who are here watching know that is it for this time you can catch a boom bust on demand on the portable t.v. ad which is available on smartphones and tablets through google play and the apple app store by simply searching portable t.v. or check it out at one of them dot tv was here next time and as always don't forget to question more.

well we said in 2008 right here on this show was that because there was no attempt to reform what the banks had done and the global financial crisis was caused by the banks who were hoarding the cash they were sitting on the cash they were lending it here we are in 2021 exactly as they predicted they did reform the banks in fact they just expanded their credit card they expanded their capacity to print and borrow and then give away cash to their friends causing now this huge crisis.

in this civil war. blew. a new u.s. president's job on what he's cool be civil to democrats and republicans but then immediately goes on to dismantle key trump policy and flourish i think that people . mainstream media swoons over the new commander in chief's integration speech on t.v.'s debate whether america is really can be healed any time soon. either we're going to result these issues peacefully through the battle of ideas or in 10152100 years we will resolve them violently.