well if you will discuss the future of the market and centralized investment for analysis we have a lot to get to so. we are getting a better idea how the bided and ministration plans to tackle truly ship with china at the same time there seems to be a lack of clarity on whether the by the administration will continue some of the specific policies against chinese companies such as joining me now to discuss who must trust and so on and host of economic update professor richard wolfe professor let's start with you president biden's nominee to head the country's commerce department gene or mondo told senators on thursday that she would use punitive tariffs and export restrictions against china is this going to be a continuation of the trumpet ministrations trade war with china. i certainly hope they are hopeful that she said those things in order to please those senators who want to hear it that was the policy of the trumpet ministration and my

understanding was that biden was going to at the very least of move back from that kind of confrontation let me remind you of all of the viewers over the last year of the trade war on the tower of war the chinese economy i scroll through a 4 percent you know american economy has shrunk through the 4 percent it didn't work we didn't win that struggle in fact the chinese economy is gaining on the united states even more under these circumstances then before so i don't think this is a successful policy it has all kinds of dangers so i'm hoping this was an exceptional statement by her and that it will not reflect the basic parts well professor we've talked about this time and time again here on the show specifically especially as of late where we see we saw a report a study that showed that basically the u.s.

shot itself in it in the foot and it's that that 2 to briley overcome to be the 1st the world's largest economy falling but falling behind the united states would essentially fall behind china sooner than expected and let much like you said given the handling of the pandemic they are seeing growth the only place in growth during these times but i want to ask you ban on the u.s. side how much pressure is there really to left the thanks vent on china are we going to see again like professor well said hopefully not but another trader on a lot prolongs trade or essentially. yes i would not believe necessarily what ms romano was saying there and there's a couple of reasons for it one is i do think she's positioning herself in terms of her confirmation hearings in order to say look senators we're going to be tough on china because that is the belief right now is that the u.s. has to be tough on china otherwise you're going to get overrun and overtaken in

terms of the economy and in terms of foreign investment in terms of trade deals and tariffs and all those kinds of things but in reality there are more than $3000.00 u.s. companies that have asked for these tariffs to be lifted companies like tesla tech companies are asking for those tariffs to be lifted and i do not believe that the biden administration is going to continue to be tough on china the way they trumpet ministration was that we could argue about whether or not that's a good thing or a bad thing but i use don't think that there is any question they are not going to take the same kind of hard line position and you know it really depends on the long term aspect and outlook as to why you would continue that you continue it because you say hey look in the short term the job of ministration didn't seem to really win any victories and so the bite ministration have to make an argument that long term this is beneficial and again when you have so many corporations in america saying let's not continue this i just don't see him doing it yet time it seems like both sides want to come to some sort of an agreement or consensus and not prolong

this trade war that we've seen for too long professor was that the world economic forum in davos where leaders there encouraging president to extend efforts to reignite this international cooperation that we're talking about what to civically when that look like. well it would be a dramatic change from what we've been doing because remember the trade war and the tariff war while i believe focused on china was not limited to china there were serious conflicts with mexico and canada there were serious conflicts with your up some of those are still very much alive i would like to caution everyone that over the last 2 or 3 weeks the german government the most german economy and government and most importantly in europe as signed a major deals to cooperate with china i think any trade war relaxation as ben says quite rightly is what almost everyone once who isn't

positioning themselves for her south in some political limelight with drunk gone i think biden has a chance to try to work out a live than let live relationship with europe with china and so on and it would be a terrible tragedy for the world if this opportunity were missed when a lot of people are saying are expecting at least president biden as a politician for so long to be at least more predictable not as abrupt as we saw president trump during the last couple of years then one thing rimando did not make clear was whether or not to crack down on chinese companies such as while we're going to continue why didn't she emphasize writing about that well if that's a complicated issue right if we as we've talked about before it is one thing hard on the chinese government and on our relationship with them because if you believe that they steal intellectual property that they are taking advantage of other

companies from around the world if you believe all those things and i think many people do rightfully so you can take a hard stance on the chinese government but that is a separate issue than taking a hardline stance on a company simply because it is chinese. own and i think as a free market society that we claim to be it's very difficult to make that case i've been arguing about that on the show for several years now that i don't see the correlation between a government stance and a private company stance having said that i think it's important to note that as we've talked about with wild way it's complicated because so many u.s. agencies have banned the use of weiwei products have made very bold statements about while way being involved in data gathering and back doors connected to the chinese government which i want to remind the audience still never actually but prove that no evidence of this is ever been shown but because of that it's very difficult to untangle that you can't just say well we declared today suddenly that

while way is not a threat because all these agencies and heads of agencies that have gone along with this how do you walk back all that information so i think the fact that she wouldn't comment on it is a sign that that is a very complicated issue and it's going to take a lot of kind of unraveling to undo what's been done there and doug if it sound like they're going to actually reverse course on this much like you said there's a lot that's already been done even though we haven't seen anything yet that shows that they are a national security threat they they've said too much and it's almost like they've gone too far and now professor what i want to ask you given the entre deal that we signed so long ago it seems like years ago it was it was the beginning of 2020 where are we with that now. well we were in really limbo it was a temporary stop gap measure to get across here you know that time has gone a new regime is in our era the united states

a new set of conditions i really think that that's simply. a feeding bedwetter everything now depends on what initiatives the biden that ministration is reiki the chinese have indicated what they're going to do what their position is very strong on international trade on multilateralism they're busy signing agreements around the world with governments that with very few exceptions are eager to work deals out with the chinese let me add one kind of caution if we continue to go after a while way and the other chinese company basically by suggesting they have quiet relationships with the government and the military china that could come back to haunt us all our leadership tech companies apple google microsoft any of them they all have complicated relationships with the united

states government and the united states military if you're going to was stab wish a precedent that this is not trustworthy then we made it me end pulling our all of the companies in as much danger as we have put while away this would be again a step in the wrong direction well again we just hope that they can find some sort of consensus negotiations we don't want to cope back to what we thought last couple of years with the u.s. china trade or bill with co-host bent on professor richard well thank you both so much for your time today. an update to the india china ban on one day tennis foreign ministry of foreign affairs opposed india's decision to ban $59.00 chinese apps including tick-tock chinese embassy spokesperson you wrong and urged india to correct its what they call discriminatory measures adding these moves and are in

violation of w t o nondiscriminatory principles and fair competition principles of market economy severely damaged the legitimate rights and interests of chinese companies. after weeks of mostly peaceful demonstrations in new delhi india farmers angry about new agricultural laws well they're losing their patience with their own government recently thousands clashed with police demanding their government protect their livelihoods and their earnings attention in india are now being felt right here in the united states with several demonstrations in support of those farmers taking place in some major cities including new york city r.t. correspondent tony chavez has more of what was supposed to be a peaceful rally to celebrate india's republic day quickly taking a turn for the worst. chaos and turmoil unfolding in the streets of new delhi thousands of indian farmers and their supporters protesting controversial reforms seen here clashing with police. scuffles breaking out with law enforcement after

a group of protesters driving tractors drove through police there needs to enter the store rather work site leaving one protester dead i'll never do anything good for the police fired tear gas and those farmers with the. demonstrators defying tear gas and flash bangs as the 2 to march through the streets told you something testers would still be protest leaders condemning the violence. to what happened up the road for furniture damage violence outside and hoisting of the we do not have anything to do with such planned economy we condemn all such incidents the protests in the country growing now for nearly 2 months as farmers demand the withdrawal of new laws they say favor large corporate farms and devastate the earnings of smaller scale farmers the legislation exacerbating resentment among existing farmers who have long been seen as the heart and soul of india but say they are even more by the government but i'm going to get the message for the prime

minister is that it is not the government it is the former governor and only we will do as we want to do you cannot force your laws. you will. well the movement garnering the support of dozens of demonstrators from around the u.s. federal gathering in new york on tuesday this is really going to hurt the community here in the big community in oakland that. we need to be a pretty good idea. to do it when it was really so far below from the family just the small because there have not been to see you in the going to we're going to now the demonstrations are expected to continue until those laws are repealed reporter boom bust trinity child those are key. good news for boeing as europe union regulators approve its 737 max airline search for a new service european union aviation safety agency executive director patrick i said we have every confidence that the aircraft is safe which is the precondition

for giving our approval but we will continue to monitor $737.00 max operations closely as the aircraft resume service on the planes they've been grounded since march of 2019 following the 2 fatal crashes that killed a total of $346.00 people on the $737.00 mark's already resume flights in the united states and brazil and it's already been cleared by transport canada this comes on the day or aircraft maker reported a record annual loss on its new 777 x. jetliner all deliveries of the plane were pushed out too late to 2023 which is a huge delay due to aircraft demand over the pandemic boeing reported a $6500000000.00 loss in the 4th quarter with an annual deficit of a whopping $11140000000.00. time now for a quick break but when we come back the u.s. federal reserve kept its benchmark interest rate near 0 after there today policy meeting to discuss the game stop rally the one many are calling ridiculous and

insane but are we seeing a new phase in markets such as we go to break here the numbers up close. live. in 2040 you know bloody revolution 2 to crack the demonstrations going from being relatively peaceful political protests to be creasing the violent revolution is always spontaneous or is it you know or here i mean your list book video of. schooling you go to the former ukrainian president recalls the events of 2014. of those who took. invested over $5000000000.00 to assist ukraine in these and other

goals that will ensure a secure and prosperous and democratic. l. look forward to talking to you all. that technology should work for people. must obey the orders given by human beings except where such conflict with the 1st law show your identification or should be very careful about official intelligence and the point obesity is to create trust. conflict take on various shots and with artificial intelligence will summon the demons. must protect its own existences. if.

i. can on the phone lines smoke i don't like coming home in the muslim on muslim problem going to november going to a photo of himself to get a. lot of muslims the bomb. she. joined. them.

to. secret prisons and usually what comes to mind when thinking about europe however even the most prosperous can be deceived with. their work to. preserve was located. the story for investigators she covered the darkest dealings of the secret services but i mean. you graded nor. for justice. u.s. markets were on the decline all of ones they had of the federal reserve policy statement

with federal chairman federal reserve chairman jerome powell reiterated his stance on helping the economy during the pandemic without raising interest rates. overall economic activity remains below its level before the pandemic in the path ahead remains highly uncertain overall on a 12 month basis inflation remains below our 2 percent longer run objective. while we should not underestimate the challenges we currently face several developments point to an improved outlook for later this year. a full recovery is going to take a very long time powell also said real unemployment rate is closer to 10 percent for more on this let's bring in. and former fed insider dannielle de martino booth danielle let's start with you federal reserve chairman jerome powell he tried to avoid sounding rather hawkish in any way on wednesday afternoon after the fed commitment to to its easing policies particularly when it came to bond buying program how is the market reacting to the latest comments from the fed. well you

know i think on a day like today it's very difficult to tease out how the market reacted to the fed markets did close down lower than they were before chair powell came to the podium but he was extremely careful and measured in saying when he was point that lee asked you know how will you taper when the time comes he gave constant pushback that this was not the appropriate time to even begin to have the discussion of what that exit might look like that the fed knows what to do when the time comes but again that right now is simply not the time to open this discussion i think it was definitely trying to call my markets down and emphasize that there is a lot of scarring that has been done in the in the economy and that it will take a lot of time to heal those scars we did hear a long recovery maybe some sort of return to normal or some sort at least by the end of this year we also saw the dow on track for one of its longest losing streak

the s. and p. also down the dow also stocks are at session lows is what we're seeing but chrystia i want to move on to the stimulus that's really been propping up the markets in the last couple weeks it looks like democrats are now preparing to pass a covert relief bill without republican votes or going for a nuclear vote is what they're looking at with a democratic seat and passing it and fitting all of their priorities into a final product. well the democrats have started to lay the groundwork now to pass the package without any republican votes through using budget reconciliation now this would allow the democrats to pass a bill by simple majority vote in the senate but republicans and a few democrats in congress have questioned the need to spend so much money in mailing just a month after a $900000000000.00 release plan became law so democratic leaders that congress should not repeat the mistakes of 20082009 when the lawmakers were too timid and

responding to the global financial crisis however there's still a lot of pushback from both sides and this will not be an easy process for democrats because the budget reconciliation right now only applies to bills that change spending and revenue levels and that kind of restricts what lawmakers can actually put into legislation so democrats may not fit all of their priorities into a final product that comes as the senate will and also as you mentioned before not all democrats are on board with the current plan either so there might be some tweaks afore this get passed including who is actually eligible for these $400.00 will be interesting to see given how close they are in numbers or from the senate danielle obviously before we go i really want take this time to talk about game stop now anthony scaramucci said the game stop short shows that a concept like bitcoin can actually work because it really shows how effective these decentralized and democratic democrats sizes investment how it can be

he called it the age of the micro investor with forms like credit are we seeing a new phase of the markets is this kind of where we're headed where heavily short stocks might be targeted in the future. well i'm not show so far how far into the future we can actually have a rational discussion given that this is clearly unadulterated speculative behavior that is going on these are massively credit trades and they're targeting big short sellers many of whom have decided to logically rationally cut out of these trades cut their losses and move aside rather than get caught up in this mob flash mob if you will so with all due deference to mr scaramucci i don't see that this is going to be a new pathway forward for investors is the small investor is mike are investing ever going to go away no it's not there are proper forms and there are ways for

smaller investors to be able to get in and out of investments where they don't have to have a huge huge pile of cash in order to to be to be a participant but again this type of speculative fervor this type of mania is certainly not what you would call a new type of investing because investing does not imply rushing in and out of companies that are effectively or at least on the pathway towards bankruptcy goes to show how easy it is to really manipulate something like this kristie a lot of had my conscious christie a lot of hedge fund managers they've described the game stop short as the ridiculous they're insane some of you can argue that it's market manipulation but many institutional short sellers over the past 3 years they shorted 150 percent of the low that's driven the stock price down about 95 percent over the last 3 years shorting 150 percent of the flow may not even be legal yet these are the same

people that are calling reddit user is a market manipulators is it sort of the pot calling the kettle black. it is but really it's actually not illegal it just creates a hazardous situation in the market especially with a nice then we traded stocks especially in the event of a short squeeze but neither is what we tellers are doing so what we've also doing that's not market manipulation that's crowd investing so the read it is they're doing the exact same thing as what all the hedge fund managers have been doing for years positions on social media or on c n n e c pushing their names all the time so it's very hypocritical that they're trashing whether there is a traders when they've done the exact same thing and today's price action clearly shows the power of retail in the crowd because the heads are retreating hedge funds are now being forced to liquidate their favorite tech laws in order to cover the short squeeze losses so thanks to all the stimulus checks which were originally intended to help economic recovery many households have instead put it into the

market and in the late it's a looks like me tell us have officially one to gain stop war where melvin capital finally capitulated and puked up its short position now jamey today hit a new record high as really 5 as news of melvin short coming broke and citron research fund also announced that they covered most of their short yesterday and while these 2 big shorts may be out countless others will remain as more shorts have come into a place the one who left right now maple lane capital might be the next mel them and right now it's not only game stop that's popping today all of the most shorted names are popping double digits in a very big down day for tech this market selloff and that right now and names like e.m.c. which you talked about. eastman kodak and more you know they're doing pretty well i do want to ask you this before we go when asked about this recent trading in game stop shares a general powell chairman said quote i don't want to comment on a particular company or

a day's trading in the stock market what do you make of that. well that's a rational thing for jay powell to say but he was asked a more pointed question and that was would you advocate for raising margin requirements and he flat out said the answer is no to that but just to go back. to the issue of retail traders are winning the day over these large hedge funds you know but the time this is the end of these trades comes and goes i'm not quite sure if they can actually run a victory lap for holding the stock at a very elevated price that is not worth even a fraction of what it is and my concern is that these retail traders are going to have to learn a very hard lesson about what intrinsic and fundamental value is as opposed to having sway over a particular trade because there are enough of them to create a crowd so i would i would i would raise that flag of caution up there because not everybody is going to have the benefit making it to the exit on time to not lose

their shirt definitely that's where it's headed so people need to be careful but they are finding new ways obviously that maybe not new like you said but it is. more access to to the investors and what they're doing more creative ways rather who must co-host christine that insider danny de martino booth thank you both for your expert analysis. that's it for the time you can catch him bust on demand on the portable t.v. app which is available on our phones and tablets to play the apple app store by searching portable that. i. would do for you know bloody revolution. demonstrations going to be relatively peaceful protest to be. revolution is always spontaneous or is it just the way you could do it but i mean

your list to do it with the new bill is that. new school new to the former ukrainian president recalls the events of 24 g. . those who to vote had invested over 5000000000 dollars to assist ukraine in these and other goals that will ensure a secure and prosperous and democratic. nominee phoneline don't make an important moment in the markup on the floor from one room to november i'm going to go soak up some stuff to get a. lot of thought up was. just that they had nothing. she

drew. 0 this room. don't go far from the sun no money to go to the british of course they're going up then broke up. i mean the guy. who wanted. to get. to take. one fella says we're going to go and find this is going to print scads more and many many chinese war chest understand that she is pouring out money into something that structurally broken it's like a bucket of the bottom is missing it doesn't matter how many like liquidity she pours into that bucket is structurally broken it's just going to come right at the bottom doesn't matter how much you force and the stinky economy is fundamentally broken all the distribution all the finance everything every piece of the puzzle

has been decimated by the command and control money printing psychopaths on the economy sunscreens fam. grieving u.k. families demand a public employee into government missteps blamed for the coded 1900 death toll which is by far the highest in europe. on the planet and they do. this today has been amount to much and. most of these lives could be saved. also this hour french lawmakers and doctors vent their frustration i think countries failure to develop an effective covert vaccine. plus russia's foreign ministry accuses the us government and big tech of spreading fake news on social media the president putting the warning about online giants.