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tv   Boom Bust  RT  January 27, 2021 1:30pm-2:01pm EST

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because you know on the phone one smoke i don't like going to the middle of the in the world of the one in bloomfield demos all of them got a lot of photos of them. a little bit was not up for the ball but just that again that's going to. be she drew loser because you make an. agreement if you are in this room. during one bar for the sun don't want to go you go british because they're going to cut them off. i mean the guys who are that end up close out the red in the. mall the power. to. take a look at it. this
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is a boom bust that one business showing you can't afford to miss on fairmont to washington coming out in our stream to pipeline or do construction despite brussel call last week to halt the project uncertainty remains over us under the fighting and the restoration plus the gentleman is making a major move and officially banned to take talks along with $58.00 other chinese out we have a tough breakdown with the most co-host on and later we have 2 vaccine are for who will help break down the latest on covert 19 new treatments and the new variant now found here in the united states you want to stick around for this we have a lot to get to thoughts get started. as promised construction on. the nord stream
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to pipeline has resumed danish authorities reported a russian vessel conducted preparatory works and tests over the weekend spokesman for the pipeline told new europe the labor for tuna has started works in the construction corridor in the danish easy ahead of the resumption of the north stream to construction all works are performed in line with relevant permits this comes despite brussels call last week to halt the pipelines completion in response to the arrest of alexey of only the 18 mile pipeline that would bring russian gas to germany under the baltic sea which the us claims it would only increase europe's reliance on russian energy uncertainty remains under president joe biden and what actions he'll actually take as a pipeline is 94 percent complete. on tuesday janet yellen was sworn in as the 1st female treasury secretary she was approved by senate on an $84.00 to $15.00 vote and is expected to play a key role in the economic recovery plan particularly biden's $1.00 trillion
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dollars stimulus package following the ceremony and took to twitter and said economics can be a potent tool to right past wrongs and improve people's lives for more let's bring in boomers co-host and partner and director of trading research and education for market gauge dot com michelle snyder michelle the u.s. senate confirmed janet yellen to be the next treasury department secretary what are some of the expectations and how is she going to manage this position what were the challenges that she's going to face in this new position. well 1st off as a woman i have to say that she is the very 1st woman treasury secretary so that's something to be congratulated for but no doubt she faces some big headwinds and very strained monetary environment so starting with the stimulus as you had mentioned there's opposition already i think everybody sort of agrees on the support for the vaccine and agrees on the fact that americans need some level of
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stimulus money the sticking point right now is on the minimum wage the $15.00 increase to minimum wage so that's the 1st sort of political pickle that she has to deal with in terms of the overall environment if we cannot come up with some way that the government steps in and then she's going to be looking at the federal reserve and they're going to be asked to step in and provide more support and sense the government is already running huge deficits the joke is sort of you know let's tell the fed that they better get more in for their printer because that might be what they have to do oh also the other thing she's going to face is at one point if the fed does step in and keeps these rates at 0 a long enough monetary supply continues to grow and the rates stay negative which of course then blooms the deficit more does the fed have to back up because of the potential of inflation which right now nobody seems to worry about but that's definitely going to be i think ultimately her biggest challenge right now
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especially her working with your own power all eyes are on the federal reserve meeting which will happen tomorrow and see what happens there christiane to bring it back we'll talk a little bit yesterday about the shares of game stop they're popping once again they're pushing the stock back above $100.00 but how do you short sellers they're not backing down so rather they're redoubling their efforts on the short positions what's the latest there. so right now it looks like game stop is the line in the sand drawn between me tailors and hedges so trading was halted multiple times due to volatility as shows just more than 90 percent to a record high of $147.00 so short interest still remains high over 100 percent even as gains up surges despite the punishing 2 weeks for the short sellers so right now 139 percent of its available shares have been borrow and sold short as of monday which shows march market losses of over 6000000000 dollars year to date for shorts so that figure is little change from the last week short interest reading of 142
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percent even those shares have surged so there's a high level of bearishness indicates that even though short sellers are being squeezed out of their positions new shares are coming in to bet against it so short sellers are doubling down in their bearish reloading over the last 7 days so game stop shares have surged over 4 percent since activist investor ryan co-head going to see on the company's board so we need taylor traders are now using that as an inflection point for the company to undergo a complete digital transformation but even as retailers are made bullish on this name institutionalise are now placing leverage that's against it by the options market so the pace of bearish contract by outpace call purchases on monday was roughly 500000 versus 275000 calls so wall street has kind of struggled to make sense of this new phenomenon now and so far only one firm advisory group has downgraded shares since they spike so the median price target is still alive in
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dollars and 96 cents and high in broad expectation of an 81 percent crash once all is said and done but the big question is when will that happen because at this rate an extended rally would force shorts to reconsider their confidence in their positions and cover before the masses all capitulate at once and it looks like that's where we're heading into them looking like it's going to stop at what might be a very much so an extended rally. michele i want to bring up a wall street journal now they're reporting president biden one ounce that he's halting all new oil and gas leasing on federal territory setting up a confrontation with the oil industry over the future of where u.s. energy is headed and this means that biden is in fact banning fracking just by remember his august 31st proclamation that he said he's not banning fracking how's this going to fact the energy complex here in america especially as will this get rid of the thousands of high paying jobs at a time when we need them most given the high unemployment rate we're seeing. first
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of all let's go back to the language that we're using here because he banded is not necessarily accurate it's a moratorium over the course of 90 days so we don't know yet what his policy is going to be going forward but there is no doubt that considering well just let's take the example of where you live in new mexico 60 percent of our revenue is gotten from oil and gas this presence is a real problem going forward we all can see the future is going towards clean and renewable energy and electric cars so you can't really stop the future but in the meanwhile you're going to have to deal with what's going to happen to some of those jobs and we have not seen any kind of solid plan there yet i think what's interesting since we were talking about short squeezes in tesla of course is the granddaddy of that is you know on us is looking to actually drill for natural gas in texas because in order for them to get rock off they're still in fossil fuel but anyway getting back i do see that lots of companies are planning for this and they
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plan fast enough where not necessarily sure about that they'll be some lag time but take a company like british petroleum which is now called beyond petroleum they have invested millions and millions of dollars as well as shell chevron total valero all of them are getting into the noble energy biofuel game and that's what they're going to have to do over time hopefully the collateral damage in the meanwhile while we switch will be to. rates for people who really depend on those jobs you know we have so many especially like we said with the high unemployment rate who who are dependent on these jobs chrystia back to these short squeezes really quick these continuing names like game stop express or bed bath and beyond and others who are who are the real winners and losers here i mean we have about a minute left. well right now we have one of the 1st biggest losers emerging melting capital was the 1st casualty of this bull raised to her in massive massive losses so they're set to receive about 2750000000 dollars in capital injections from a hedge fund giant that it out of point $72.00 which is basically
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a bail out so that melting can even pay down its margin call so essentially melbourne has now told a losses of 30 percent in just the 1st 3 weeks of one and 21 even though they started the year at 12500000000 and has been one of the best performing hedge funds on the street so right now it looks like in terms of winners and losers wall street is getting in the world by the gent the robin hood eat who is clearly a giant on the shift in power dynamics around and then acknowledge he has basically powered a whole new class of investors and traders before all the tools and access were written for professionals sounds like it's essentially a 0 sum game we're looking at here boom with co-host christi i'm michelle schneider of the market gauge group thank you both so much for your time and your expertise and good. major moves in the tech space as the government of india has now issued a notice to chinese social optic talk that it will be permanently banned in the
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country now remember it was already temporarily banned now it's permanently bad this comes after that temporary ban at that had been instituted now joining me now to discuss this and other tech stories goombahs co-host an investigative journalist been so on ben thank you so much for being with us as always let's begin with this ban on tick tock by the indian government why take talk why now. well it's not so much a why now as it's a something the indian government's been doing for some time it actually started as you mentioned all the way back in the summer of last year in which the indian government put it temporary ban on tick tock they have now extended that into a permanent ban and it really comes down to the indian government saying that they believe cock is connected to the chinese government the chinese communist government and is essentially data mining and polling data on its users across india and so they don't want that it's really the same argument that the trumpet ministration was making here in the united states when they had their attempt to ban tick tock last year the difference is that india did not impose an idea of trying to force sale operations in india to another company they just all out
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banned it now now what is fairly interesting about this is that one of the biggest competitors to tick talk in india is mark zuckerberg who was involved in social media over there it's not facebook's in particular but owning parts of other social media that is emerging in the country and he owns a big portion of that and we know that he sees tech talk as a serious competitor when we know and you mentioned donald trump trying to ban tick-tock here in the united states but the by the administration says and has continued to say it will hold chinese tech firms accountable but he hasn't said whether or not it will move forward with this trumpet ministration attempt to band take care what do we know so far. yeah you know there really hasn't been any talk about that and essentially what talk at them to do when the trumpet ministration was on the way out was file a court injunction saying to a court hey let's just stop what the trouble ministration was trying to do in terms of it's for sale and instead let's take
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a step back and see if we can figure it out with the biden administration has not indicated at all what they're going to do and whether or not they're going to pursue an all out ban my guess would be they're not going to do that nor will they necessarily attempt for sell what's fairly interesting about this though is there were a lot of companies here in the u.s. and retailers like wal-mart who were you know champing at the bit they were salivating right the idea of being able to get ahold of to talk so the the forced sale was going to go to a conglomerate of oracle and wal-mart together who were going to be able to do this so the idea that those companies won't have influence now to say let's just keep moving this forward would be fairly interesting because microsoft as you know also one of the piece of it but there's been no indication about to talk and then in terms of wall way real quick you know. by the ministrations going to have a hard time undoing a lot of what's happened with while way because remember the f.c.c. unanimously voted to ban huawei technology in 5 g. towers and in the existing towers for that rippin replace strategy that's underway
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so you know it's not just as easy as a president and or a one president saying let's undo this because there's been a lot of steps taken already to keep while way out of the telecom space here in the u.s. not that easy to take and several steps in doing it for years now where they're going after a while away i'd like we said a few years ago we didn't even know what law was but i want to move on to that letter let's bring in the move by twitter which the company says it's going to have to combat the information it's a form called burn watch what can you tell us about. i got to tell you this is nonsensical right and if you thought twitter was bad before it manages to actually get worse. it manages to make itself worse and honestly to make itself more annoying than it was the week before so in this case the birdwatcher forum has been designed as a way for users on twitter to police content and to provide context and to help
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with the fact checking i suppose the idea here is the backlash to these so-called fact checkers who are coming from these organizations that quite frankly have enormous amounts of complex conflicts of interest and so the idea here is that twitter so well will leave this up to the community but what's interesting here is they're not leaving it up to the community this birdwatcher program is going to automatically give a certain amount of authority to existing fact checking organizations and how much do you want to bet that you as the public are not going ringback to have the ability to fact check into t.v. such as for instance c.n.n. or n.b.c. may lose or a.b.c. news are you going to have the ability to do that on twitter almost definitely not so it starts out right now as a separate place to go to kind of a portal forum twitter says eventually they'll move it into the entire space and they'll be a big part of the platform i just see this as something that will be a nonstarter in terms of helping slow down the erosion of twitter's followers who are leaving it sounds like a complete disaster this community surveillance which actually is not community
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surveillance interesting not what it is and that the end of it thank you for that tech round up the west coast and i think they're journalist but it's one. you got. time now for a quick break but when we come back we have to back to an expert standing by they'll help break down the latest back over 1000 new treatment and the new variant found in the u.s. go anywhere about the next as we're going to break here the number is up above. the world is driven by shaped by one person with those.
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things. we dare to ask. in 2040 you know bloody revolution of you tube clips the demonstrations going from being relatively peaceful political protests to be increasingly violent revolution is always spontaneous or is it still we hear i mean you are liz put that you would put him in the new bill is that i'm still a needle the former ukrainian president recalls the events of $24.00 g. and. those who took part in it invested over $5000000000.00 to assist ukraine in these and other goals that will ensure a secure and prosperous and democratic. political.
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and another glimmer of. for 2 possible coven 1000 treatments that were announced on tuesday were general in pharmaceuticals that it's antibody cocktail prevented all covered some demos within the 1st week of treatment the national institute of allergy and infectious disease conducted the study with more than 400 participants the company expects to confirm these results by the 2nd quarter meanwhile louis and co also said its 2 antibody treatments help significantly reduce the risks of hospitalization and death in patients with copd 19 by around 70 percent all this came from another study with more than 1000 participants from our let's talk about taxing fresh alist at vanderbilt university medical center dr william schaffner and director of the vaccine education center at children's hospital of philadelphia dr paul offit thank you both so much for taking the time to be with us today dr
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schaffner let's start with you i want to start by asking about this region around this antibody cocktail that we were seeing which is said to provide immediate short term protection against the virus now this is obviously different from vaccines that can take up to several weeks to really develop the immunity what's the difference between these treatments and the vaccines. well of actually well 1st of all those are in a local. scene is an active stimulus of your own immune system your body produces its antibodies that are then we hope rather long lasting these are general. in a body treatment is what we call tacit the antibodies are given to you from the outside and they last for a period of time can be very effective in preventing the section and preventing serious disease but they are temporary quick fix as opposed to the older 6 of the vaccine to could be kind of like
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a medication biologic something like that that we're looking at here right. except it's designed to prevent illness as opposed to treating illness because dr i want to talk to you about president biden's vaccine plan he's seeking to increase the average daily vaccination rate to $1500000.00 shots per day and he admitted himself that it's going to be a talent a logistical one even though the u.s. average to $1100000.00 shots per day last week is an increase of $1500000.00 per day or more possible given some shortages that states have experienced. you know it's still not enough it's the truth i mean if you or you can add as dr to actually has the need to backslide about 70 percent of the united states population in this 70 percent of the u.s. population is around 24250000000 people it's a judo's that seems so you're talking about 480000000 to 500000000 doses if you're
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getting a 1000000 doses that day that's well into next year before you get 1000000 doses you need to be a 3000000 doses and right now the biggest problem we have is production it's not as much distribution of administration there are a lot of administrating sites that are open we need to miss vaccinate but we just don't have enough actually we're going to have to even 3000000 votes a day if we hope to get on top of this being done by the end of the summer well and even then 70 percent that's still a large number isn't even known that 70 percent of americans are willing and wanting to get the shot i know a lot of people the medical field have rejected the shot. if you read this i think we usually get 70 percent of this although there is definitely some reluctance to get a vaccine which you know we still wrote we quickly with technology which we previously don't have a lot of commercial experience i still think sentences the people who are resisting the vaccine don't make 30 percent of the way so i optimistically 70 percent well hopefully people want to return to their known normal are their normal about is dr
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schaffner we've been seeing the new variant of the virus emerge as a more countries are looking to impose these stricter lock down the on travel on international travel maternal reported this week that it's vaccine is indeed in fact of against the u.k. variant but less so for the south africa variant of the company is looking into a booster shot is what they're saying for the new strain should this be a cause for concern. it's oh well it's certainly something we keeping our eye on the south african very interest not yet been to take that year in the united states we are looking harder still not hard enough for these variants coronaviruses and i think it is a prudent thing for we're different to start making a vaccine which we might need in the future whether here or other parts of the world it could be given for example as a booster dose that would prevent these south african variant if you've already been immunized with the standards actually so all of these things are things that
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need to be monitored carefully and i assure you the harder we look for variants. the more will find i'm afraid i'm sure and as you said they haven't been reported yet but many are skeptical and saying it is already in here and even even on today the brazilian variant which is something is more lethal more contagious actually is it showed up in the united states in minnesota but i want to talk about several years from now dr offit if the u.s. and the global population if they actually return to meet. eddie from these mass and occupations is it possible will continue interation of the crown of our summer and around the world will versions of the virus and the pandemic just be with us forever not something we have to get used to. but made this back through our state is has just made a state you fear the american in the in the human population will create variance as it continues to adapt to growing in the us the question the critical question is
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whether these variants that seen it used to date there's no evidence for that i mean what we do really when you should start to worry is when you see people for example in united states who have already gotten 2 doses of. the pfizer backseat who then or a hospital with coated 1000 post but i want to be very traits that hasn't happened yet that's when you know that truly scared community the community right now we're just trying to make our best guess based on lies and you know body responses that we see from people who are vaccinated to see whether they actually neutralize these very high risk laboratory and to the south of us in st we find that it's a little less capable of doing that but that doesn't mean that you're still not protected it also remember you're just looking at one aspect that the immune system when you're looking at these utilizing invites there are other aspects of your system that's like to filter cells and so these also which no doubt also erode protections so i think that right now working a lot about this but it's not
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a shocker said i think we should certainly prepare for the fact that it might happen is right now we don't have clear evidence that it hasn't yeah it looks like a more time needs to to pass before we can actually look into it it's amazing though about the technology and where we are today that we haven't been able to catch her see them as as we should these days dr schaffner i want to talk about the the hope for johnson and johnson that is expected to report its covert 1000 vaccine results by early next week this will be the 1st single dose vaccine it doesn't require these deep freeze or transport well martin to approval of this vaccine significantly reduce the time needed for our return to normal life. well we don't want to get out of course but we've seen previews of these data and so let's assume that the johnson and johnson vaccine receives an emergency use authorization as you say sara it's a single dose vaccine and it can be handled in the simple refrigerator temperatures
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that pharmacies doctors' offices clinics are used to will be able to get this vaccine closer to the people rather than having to bring the people to the banks and with another manufacturer in the game producing more vaccine sending it out will be able to accelerate our vaccination process so i'm optimistic that we're going to be during up in the next several months actually adding more and more people and i hope we can get to those levels that my friend dr offit was talking about earlier well we know that a lot of people are optimistic much like you dr schaffner dr offit about these this johnson and johnson to add more supply of course there may be some supply disruptions like we've seen with these other vaccines but and hope in the coming weeks if it does get approval that hopefully by next month or 2 we'll be able to see more more supply actually a specialist at vanderbilt university medical center dr william schaffner and
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director of the vaccine education center at children's hospital of philadelphia dr paul offit thank you both so much for taking the time to join us today. that's it for this time but you can catch me on best on the man on the portable t.v. app which is available on smartphones and tablets it will play on the apple app store in the phoenix. right now there are. people who are overweight or obese it's also double to self. 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
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medical and scientific establishment. so what's driving the obesity epidemic it's corporate profit. is your media a reflection of reality. in the world transformed. what will make you feel safe. isolation whole community. are you going the right way or are you being led. by a. what is true what is faith. in the world corrupted you need to descend. to join us in the depths.
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or remain in the shallows. because so much going on the phone lines most vital make an incredible image in mud them up on the floor for influence you know demos on the federal focus of fredricka . it was. there just as. she was you make a. journey from the sun on my book you go to the british course there's one of them up but. i mean they got the other end up closer than one than the other. it didn't.
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take. leave. the russian president calls out to the power wilting tech giants during a wide ranging video address to this year's world economic forum. the vaccine supply route deepens between britain and the e.u. as brussels threatens to get tough on exports while accusing drugs firm astra zeneca of not keeping its end of the bargain also ahead. on so you have to tell you the number of deaths recorded from. the supposed $100.00. british prime minister under pressure to explain the country's dire covert situation as grieving families demand a public ng.

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