this is boom bust the one business show you can't afford to miss. in washington coming up tensions between the united states. particularly in the trying to run away is fighting back to a full report on johnson and johnson. that people might need an annual covert 19 vaccine much like the new doc did for the flu and you put your feet up from record highs that one day we'll discuss what's driving the poll but we have a lot to get to so let's start. donald trump may be gone but the tension he created with china well that continues and at the heart of it all since china's technology giant wall way well now with a new administration in washington wa is reaching out to reboot its relationship with the united states at least trying to and what the u.s. government and maybe see the company c.f.o. released from custody in canada artie's alex mcgill which has

a story. it was labeled a national security threat under the trumpet ministration huawei is something that's very dangerous you look at what they've done from a security standpoint from a military standpoint it's very dangers on top of the u.s. banning companies from using wall way networking equipment in 2012 in 2019 d.c. took action to hamper wall ways access to key software and components while some called it a lethal blow away just kept on trucking in 2020 while we became the biggest smartphone maker in the world overtaking samsung and apple in the past couple of years now with a new government in d.c. the chinese technology giant is hoping that its relationship with the u.s. can improve in the u.s. court of appeals for the 5th circuit the company has filed a new legal challenge against the u.s. federal communications commission weiwei wants the f.c.c. to remove its designation as a national security threat calling the order unlawful meanwhile the government of

china is also attempting to push forward what ways cause as it works towards lowering tensions with the u.s. made what they're trying to do the last u.s. administration and some anti china politicians chose to uphold u.s. monopoly in a gemini in science and technology abuses national power to press wall lay in china high tech companies this is a denier to the market principles and it's not good for us fair competition as a claim and we urge it to stop its pressure to chinese companies under trump washington lead an international campaign to discredit the company including what ways networking equipment could be used to spy on america and its allies huawei has repeatedly denied those claims and the u.s. has shown little to back its accusations could you tumbling that off with china and then we hope that the u.s. side will not politicize or weaponize the issue of science and technology stop making groundless accusations to smear china and work together with the international community to create an open fair just and nondiscriminatory.

environment for the development of science and technology another facet of wall wiese battle with the us is the a rest of the company's c.f.o. in canada at the request of the trump administration made one joe has been detained in vancouver since december 2018 in the latest round of the canadian court battle means lawyers asked for her bill terms to be loosened the request was denied citing that she is considered a flight risk the while the c.f.o. is fighting extradition to the u.s. while while he seems to have its fair share of troubles in north america the company's continuing to make waves in other parts of the world with state of the art technology available at competitive prices many believe that it is only a matter of time before the u.s. and its allies realize that while we cannot be ignored for boom bust i'm out look so high with each. joining us for more on this story bill is co-host investigative journalist and host of economics professor richard let's start with you can you give us more insight on as to what this lawsuit what the f.c.c.

is we heard a little bit from alex but let's hear your analysis. yeah it's a couple of things 1st of all you know what ways essentially suing to say there was a ruling by the f.c.c. last year that essentially said that all the telecommunications equipment across the country has to go through a rip and replace process of being removed from the nation's infrastructure because while way was determined to be a national security threat now you and i have talked about this a lot sarah the reality is is that the trumpet ministration has never provided evidence of how that national security threat number one is happening through what way and number 2 how the existing equipment that's already in place presents that national security threat i'm not saying it's true i must say that's not true i'm saying that we have not seen any evidence whatsoever that would back up this claim and yet the f.c.c. essentially said while we cannot be part of these rural programs about a $1000000000.00 fund that goes to these programs to get telecommunications

equipment across the country and that equipment has to be replaced it's while way equipment that already exists while ways so we can say we need to wait hold that that order and also they're challenging the f.c.c. on the claim that they are a national security threat saying they are not if we are them prove it show us right they're still waiting to see that proof as as are we professor wolf now always a founder. has said the company would never say on behalf of any country and that he's hopeful that president biden is going to be more open to policies that quote that our interests of the u.s. companies do you think that will be the case and what would that mean or look like for a walk away. well i think well i'm hopeful like the let me be honest i'm hopeful that the biden administration rethinks the policy it did not work as your own reporter it shows you while a is doing fine and is active in many countries it's underlying the bottom line is

growth is successful it's technology is going probably faster because it has to make up for what it used to rely on the united states i also think that we in the united states are losers by this other companies are going to think long and hard before buying american exports worried that somebody will cut them off when they really need them and that's too dangerous so investment dollars are not going to come here contracts of buying and selling are going to be smaller i don't see the benefit and one last point you know it's a dangerous precedence most big trike tech companies deal with governments their own and others because military and other government agencies need high tech communications and so on the united states is very vulnerable if it's going to be a pattern that we do to the chinese they're going to do it to all of us companies

that are now in china and everybody around the world is going to be doing it and you know who the biggest risk there is u.s. companies given our importance in high tech production so it seems to me a very short died in itself inflicting. kind of body that i hope the biden administration. thinks bottom up and we've talked about this several times that we're both with you about and you professor of regarding a law a at and how you know blocking them is really essentially getting rid of the free market that the united states is if everyone from perth to have while we have said time and time again they don't have it much like. i'm with ben here whether or not they have i personally myself when i was in wa way they were inviting us federal employees government employees to come and visit their site to have a conversation they never responded they never went and actually took a look at it we also much like ben said we have not seen that evidence we're still

waiting for that so i think that's that's kind of where we're at with that but i want to talk about tech talk ben what's happening there we have court of last week for months last year the president trying to push for a forced sale a tick tocks u.s. operations to oracle and he went to wal-mart what's going on there what are we seeing now yeah absolutely a real quick before i mention that though i just want to say on the way as you also you know the idea that while wages spine it very well may be turning over information to the chinese government that absolutely may be happening but the other question is are we supposed to believe that apple and google are not doing that here right and so to sell the idea that one country does it in this bad the other country does it it's ok i think it's usually problematic which brings us to the tick tock story because it's the same issue right which is that the trumpet ministration made this claim that to talk was improperly gathering data on its users and it could not that it was but that it could potentially share that data with the chinese government now that i'm sure is there's no question that that is happening there's no question the tick-tock is gathering data that's how those

companies work again twitter facebook instagram they're all the snap chat they're gathering data on you all the time and they're sharing it now in this case by the ministration is kind of shelved this forced sell the oracle and wal-mart and says that they're going to take a look at all of these chinese apps and make their determinations this story i think is similar to what way but it's worse in my opinion because never before have we seen the u.s. government force the sale of a company that's a foreign company to a u.s. company and again remember the german ministration did not require that oracle or wal-mart change the behavior of tik tok they just insisted that the ownership be american and not chinese. and that's insane to me as i tell you would've been the same so really no no changes there yet the full interesting there professor one of our i we finally heard from president biden over the weekend where he did speak on his tough stance on china right here talked about as being as very competitive

a he didn't go into details however about the chinese tech issues what do you think is going to move forward with these how do you think he'll move forward with this well i was struck as you were that he made those comments but i was struck a little bit also that you didn't hear anything like the denunciation of the chinese communist party that was coming out of mike on pales mouth in the last months of the trumpet ministration you didn't hear this demonisation that we have to be worried you know you're not seeing that kind of cold war talk that much of last year was kind of common t. here so i took that as a sign that they're going to be much less aggressive much less pushing these kinds of ideas and by the way many large business associations both in the united states and elsewhere want the u.s. government to back off they didn't like what trump did they want much more in the

way of an open freer global trading system and i think you're going to see movement at least to some degree in that direction from the by administration in the right direction we've talked about this before too or because biden is more predictable than the trumpets cracked. and there's more willing i think to see the longer term impact the including on the united states you know the numbers from last year one last point china did pretty well compared to most other countries in the broader economic issues that we and we didn't as a society and that tells you something about the promises made from this policy what the actual outcome was and then your final thoughts you know i just i think that it's very possible that trump may have been right about the chinese in terms of their you know willingness to access data through apps their ability to access

a personal information about us through cellular networks and through the technology i don't think the truck ministration was necessarily wrong about that my problem is is that they didn't apply the same standard to american companies why is it ok for american companies to misuse data to collect data and to share that data with governments but it's not ok for the chinese to do it if the principle is that privacy should exist and this stuff should be protected because it has value to us as individuals then that has to be across the board you can't say it's ok when zuckerberg does it but it's wrong when weiwei does it or it's wrong when tick-tock does it that's and that's my issue with a lot of them to there are human and would be oh well it's our own government to that that's ok that's ok here i like the rest of the thing is the reality is this the chinese government has no power over my life but the u.s. government has a whole lot of power that's right benson professor richard wolfe thank you both so much for your insight. the c.e.o.

of johnson and johnson says it's possible that vaccinations for coppa 19 will continue annually for years to come in an interview this week with the n.b.c. alex of course he said every time the virus mutates it's almost like another click of the dial so to speak where we can see another variant on other mutation that can have an impact on its ability to fend off. antibodies or to have a different kind of response not only to a therapeutic but also to a vaccine this means shots may be treated much like the flu to match new or emerging strains with johnson and johnson has applied for an emergency use authorization for its one dose vaccine and while it continues to work on another to do a shot earlier this week south africa halted the rollout of the astra zeneca vaccine after it proved to be in the fact of against a strain discovered in that country. time now for a quick break but when we come back u.s. equities retreated from some record highs this wednesday we'll discuss what's

driving the pullback and as we go to break here the numbers at the close. i. i. new gold rush is underway. flocking to the gold fields hoping to strike it rich. as. children are torn between gold. was very poor. just which side will have the strongest appeal.

to. join me every day. and i'll be speaking to. politics. i'm sure i'll see you there.

u.s. federal reserve chairman jerome powell made no changes to policies on one stay despite the unemployment rate down to 6.3 percent although powell admitted a true count is closer to 10 percent paul said policy will need to stay patiently accommodative to the disappointing job markets he also said inflation has been much lower and more stable over the past 3 decades than in earlier times in the past when the jobless rate fell the fed would typically raise rates to prevent inflation but they aren't making those changes right now so for more. openness i'll see the ottavio good to have you as always the federal reserve it's indicated that it's not worried about inflation it briefly even if it means that it's surpasses that 2 percent goal is there any rescue inflation exceeding and even staying above 2 percent if unemployment stays that high and congress continue sending these drug payments to americans or is the government setting itself up for policies that in

that of a inevitably are going to lead to high inflation. well i think there is a very substantial risk on the balance of risks look as if we're looking a peer of inflation coming at us certainly if the if the government of the treasury and the fed carry on with the current policies so they are pumping money into the economy the furious rage debt is increasing very rapidly and that debt is simply being monetized by the fed buying it up so if you keep doing that for too long in a particular if you sort of inject the cash directly into the general economy you do run the risk of inflation now the fed has painted itself into a bit of a corner because i think they're fully aware that the market see equities markets in the bond markets have become very dependent on this flow of very low interest rates and the flow of money coming in so if he starts even think about increasing interest rates there's a big risk the markets will crash and that has power basically with his back against the wall not really sure how he's going to get out of it so i look forward to seeing a magician trick in a year or 2 when he has unwind this and see what happens then you know looks like

a pretty scary if the edge of the c.p.i. report and price index show that it rose and later by point 3 percent from that between december and january we're not seeing a huge rise there but it's only a matter of time before much like you said we could see a crash. yeah i mean if the fed now decides they have to increase interest rates it's not going to look good i mean the bond markets are fully dependent on that and the equities markets pretty much true so the entire rally that we've seen over the course of the past few months has been entirely fed by the pumping cash fast for months been almost a year now so that's really what's been driving things so that's the balance the risks we see there that if they stop doing that things crash well toyota talk about spec they seem to be a pretty big deal these days they're taking companies public this year in 2020 want to backs raise more than $38000000000.00 how viable is this sort of vehicle going to be going forward over the traditional i.p.o.

process that we've we've seen before is going to be the new weapon of choice because it's easier. well certainly looks that way so going public is a fairly arduous dreary process you have to file all sorts of paperwork with the f.c.c. and with the exchange you have to go on road trips and find investors and things like that there's very few if you c.e.o.'s a senior managers of companies are very excited about going through that process so if they can do it short circuit that entirely process and go public by an acquisition or merge with the spac then they'd be very much open to that i guess in general it's a very tedious thing being a publicly traded company not only do you have to give away all sorts of very sensitive information you also on the public and rigorous scrutiny in a way to not as a privately held company and as a result we've seen the the number of publicly traded companies come down quite significantly over the course the past couple decades really has been an ongoing trend so fewer and fewer companies want to be publicly traded now with equity

markets so high i think it's a look firms who are quickly rushing to try to go public before things unwind of trade that we saw at peaks and it might come down afterwards and so you really have to rush the process to get your i.p.o. or so there is this phantom i.p.o. dump through a back merger so i think for the for the time being we won't see any change are people going to carry on doing this just much easier to doom unless the regulators step in unless the exchanges say well you can't be listed on exchange of this is how you're doing it or the wrigley's of something to say about us so far that doesn't seem to the case so it's expect this back i.p.o. route to be the one of a choice for the foreseeable future at least until the markets can go down from our thing. i want to talk about the dollar the weakening dollar has been weakening for some time now it was trading at some 2 week lows on wednesday meanwhile our thing actually didn't crown it hit its highest level in months against the euro but bank of america they recently said that they expect that the u.s. growth to outpace growth and they're essentially saying that the dollar is going to

bounce back do you agree with that assessment. well i don't think. that u.s. is going to outgrow europe is a particularly bold or even an interesting projection prediction to make i think almost any day of the week you can make that projection so that's a pretty easy one to do so i think they're right on the money there that's likely how it's going to be so yes i expect u.s. growth throughout this european growth eventually if there are strong euro scrotes again it comes down to monetary policy is the fed going to step back from this very loose policy and if they do that will of course drive the dollar up so i think indirectly it's to do with u.s. growth but more directed to do with monetary policy again well on considering the incredible amount of stimulus we're seeing here in the united states government that they're injecting into the economy both with the stimulus the relief package and the federal reserve can we expect to see continual rises now in gold prices other world currencies or even alternative cryptocurrency is more broadly what's

the future of the house dollar given the information we have now on these commodities other assets. well i mean as you print more money there's going to be a natural tendency for that currency to lose value and all other assets are going to go up in relation to it so certainly as you see that happen that that will happen to the dollar as well now you raise a question of gold it's interesting that the fundamentals for gold look really good so you'd expect to have seen gold carry on going up and we've had a great couple years the past few months i think it sort of hit a high in early august at about $2000.00 and it's come down by about 10 percent since so there's been a bit of a correction there in the gold price and it seems that those investors are really looking for inflation hedges have been plowing their money into bitcoin at a furious rate so gold has a bit of a compression bit corn and so that's where some of that money's been going what about oil branker prices have been going up is there something in the past week that they're going to rally or feeling that there's optimism for the vaccine what

are we going to see here is there going to be a rise quickly due to the pent up demand for crude. well i think pent up demand in mind that about 70 percent of oil in the u.s. is spent on travel and so that's where the vast majority of oil gets used of course as other uses such as he and industrials and energy production things that sort but the vast majority goes into into travel and that's not the kind of thing that gets pent up. you might put of buying a new car and then this pent up demand for new cars one sings a return to normal travel is not the kind of thing where you say well i didn't travel at all this year so let me travel twice as much this year to catch up that that that demand just goes away so it doesn't it doesn't get pent up we'll just see a return to normality if everything goes well and that's the hope for the near future of having randy out of time thank you so much for your expert analysis thank you very much. while general motors saw better than expected profits in the 4th

quarter a chip shortage may put a wrench on future earnings the car company says some plants are temporarily shutting down while this drive the vehicle dry into debt are to correspondent tosh a sweet takes a look. this is the world's 1st all electric super drive general motors working to compete in the new green era of vehicles as a brand it went away quite some time ago i definitely wasn't exactly the environmentalist favorite but now coming back into fully electric form the idea is to bring all the excitement ability of the hummer that we're used to seeing but do that in a new electric way but new weren't digital cars certainly have their perks but also come with issues of their own semiconductor chips shortage is causing g.m. to shut down 3 of its plants for 2 months the carmaker said the impacted plants are in kansas canada and mexico the shutdowns will be re-evaluated in march so my conductor chips are vital for new age cars also used in consumer electronics these

chips help with an array of features including power steering in the 4th quarter g.m. reported 37500000000 compared to the forecasted $32.00 however g.m. said the chip shortage could cost as much as a whopping $2000000000.00 well g.m. is facing a temporary shutdown and potential losses they're not the only car company affected one of their biggest competitors ford is also dealing with a chip shortage they estimate the minimum cost of the shortage to be 1000000000 dollars last month ford closed 3 of its manufacturing plants in brazil citing the crown of virus pandemic general motors says they expect to spend anywhere from 9 to 10000000000 dollars this year will be part of creating its all electric and autonomy vehicle expansion and the money also adds up from delayed spending from last year as a result of the pandemic reporting for boom bust and sweets are to. set for this time catch you must on the way and on the portable t.v. are available on your smartphone. no we were playing and the apple app store by

searching portable t.v. was enough to. imagine picking up a future textbook on the early years of the 21st century what are the chapters called gun violence school shootings homelessness 1st it was my job it was my fear with living with my savings i have nothing i have nothing to lose now i don't authorize alou for resources i look for jobs i look for everything i can to make this house. annoying the doing is. the road to the american dream paved with good refugees it's this barrier idealized image of our america needs americans look pasta the depths that happen every single day this is

a modern history of the usa and america on our t.v. . internet censorship is happening at an accelerated pace conservatives and progressives i mean to monetized any platform more times than not the censorship is never really explained we are left to assume that the phrase community standards is invoked we somehow are threatening power but that's what dissent gives all about. reason for doing this study and the reason it's. most controversial and still important is that it demonstrates the power of social situations and playing the roles that can lead. good ordinary people to do really bad things.

israel media 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. direct. what is true what is faith. in the world corrupted you need to descend. to join us in the depths. or in may even the shallowness.

knowing through the woods and the. blog. blog. and your own body in a can matter i cannot walk. and about national. bills on miles on a limb on that one has. a national in the national association. for the hell. said the community and into. the so to. me was one of those in the south of you in the north you know let me get a feel good. shot and know it when i. see my name on that.

they were all health organization scientist investigating the origins of covert 1000 questions the reliability of u.s. intelligence after washington says it wants to conduct its own probe in china. the european commission president admits the block was it too late in authorizing covert vaccines as you state struggle with supply shortages we heard from a w.h.o. advisor so not a matter of race between countries who should get 1st and which block should get earlier countries and the european union need to plan far far east population to be covered by a such and get out of time.