matched by the appointments that were needed in the ministry i think maybe even his background in business he might have needed the importance of personality. having worked in the white house needs to government so much rests on personnel. this is true but the one business show you can't afford to miss on principle and washington coming up u.s. treasury secretary janet yellen is pitching the biden ministrations major stimulus measures what sway could she have straight ahead check out her comments and what waves it could make plus we have

a conversation with world renowned international investor jim rogers about a flurry of subjects including the economic recovery and the aftermath of the game stop trading frenzy and the later because he is continuing hitting yet another record high along with a new milestone we'll go over the numbers with a pack show today so let's dive right in. and we lead the program here in the united states with talks regarding the next economic relief package u.s. treasury secretary janet yellen on thursday said the $1.00 trillion dollars stimulus package is needed to revive the economy struggling amid the pandemic yellen told c.n.n. si thursday quote we think it's very important to have a big package that addresses the pain this has caused 15000000 americans behind on their rent 24000000 adults and 12000000 children who don't have enough to eat small businesses failing i think the price of doing too little is much higher than the price of doing something big we think that the benefits will far outweigh the cost . in the long run meanwhile on the same day house speaker nancy pelosi said she is

hoping for a floor vote on the legislation by the end of next week. and earlier we had a chance to catch up with international investor jim rogers to discuss the state of the global recovery and a myriad of other topics. i want to start with the state of the u.s. economy after being crushed by the pandemic in 2020 now in 2019 we were already seeing a downturn his growth was on the decline before the pandemic right now it seems like the entire recovery hinges on another relief package put forward by congress in the biden ministration which is just more money after the last month round of money ran out and we're basically seeing this as a loop of print money to stimulate the economy repeat so how can the u.s. dig itself out of the economic downturn it is facing and actually hit that recovery we talk so much about. every 10 years that is correct i mean it's

a very good time. in america because we're getting to. this printing it is spending but it's not a good time to be young i have 2 young daughters oh my gosh in their lifetime america is going to have many many many problems. in washington that's what they think is right and they're going to do and who cares what other people think this is ellen and the rest just. a long history of trending spending borrowing and more spending and that's what's going to happen for better or for worse and now you know when we talk about the u.s. economy struggle we actually talk about this quite a bit on boom bust here china has been the only major economy which actually grew in 2020 now after declining early in the year for the 1st time in more than 4 decades it's expected to expand by more than 8 percent in 2021 only trailing india now while the us is still fighting cope with 19 and last

a full year of growth doing everything we just mentioned there china has been taking the lead on tech and semiconductors is this where china takes the lead over the u.s. in a so-called technology war. well it's china's already here in some ways you know crude of computer money for instance you cannot take a taxi in china with money you cannot buy an icecream in china with money you have to use your phone you have to your computer money so they're ahead of us in some ways. i don't know i'm not a technical person but i'm told they're head of us and. oh but that's the way the world works you know the english so shipbuilding from the from the from the god's. good job service and we are americans but sheen really and manufacturing from the animation i mean this is history this is a world it why do you think that china was able to hit that recovery quicker is it just the technology or did they do something i know you obviously have an

affinity for asia having moved there and spent a decade there so far so why were they able to make this and why are we seeing actually a lot of the asian economies don't get quite as hard by this pandemic that you see in the west is just being killed by the pandemic. i don't know who is accurate and who is not accurate whether the west to east or anybody else they say it's because they had the experience was sars recently and not to it long ago and they prepared after sars happened and they were ready and they knew what to do and they acted whether that's a correct assessment or not i don't know but that's what they say and what i see on the internet is looks like somebody did less badly in asia than they did in the west and now i want to move over off of just the global economy to equities and

specifically those in the united states have actually thrived amid the pandemic you know following that big drop that we saw early in the year in 2020 a back in march many indices are now sitting near or at record highs how divorced from reality is that when we talk about world economy struggling. in this bubble of act what is in the markets actually continue to grow and what happens when it actually bursts. out and experience here is what moves and i live yes it can continue it's not a complete yet there are still a lot of stocks in the world that are not up a lot so i'm going up every day and never go down of course or we see i see a bubble developing but i don't see you yet and you have a history of going slower than anybody expects and of course going down more than anybody expects it whether we like it or not all bubbles end badly and

a lot of people get hurt very badly because things go out much more than anybody could imagine. what happens simple financial history. and now you know we know we've seen in the past the faster that we see a you know things drop when that bubble burst rather than a rino and he generally rises to the top a little bit quicker is that what we would be looking at if the bubble werdum grow bigger and bigger and fall have only. one side say it's simple financial history. there would be actions here except that it looks to me like it is contained your hand going to your and his to win the game. really to assure. and then not going to accept me socks and many stocks are around 708090 percent after a while it's very very thank god on either side of the aisle. and there is another issue i want to talk about which has been so much in the news

here recently you know we've seen a massive surge in retail trading you know when regular everyday people are taking to apps like robin hood or t.d. ameritrade and credit suisse actually says that since the start of 2020 retail trading has doubled from between 15 and 18 percent to over 30 percent really picking up at the start of the pandemic when some had more cash available less places to spend it and we're actually hearing a lot more about what was happening in markets through the news what we saw those drops knowing the old adage of buying low do you see this movement in retail chain do you see this as a positive people becoming more financially literate. of course the more people recruit entry later regretted the war is whether they are but i also know that throughout history when global starts a lot of new people come in a speech as easy as it sounds easy and it is easy for a few days or few weeks a few months. it is

a tradition on our historic sign of coming to an end and we're getting into a very serious bubble territory i've seen this movie before granted it's not my 1st rodeo. oh raise oh it started tracking a lot of new people and it's very good it's all over the t.v. and the internet everybody's talking about it at that restaurant and to the wall street corner dentist and the receptionist was to talk about stocks i don't want to talk about your teeth you know the these things that happened before and are happening again i mean you're absolutely right because if feels like we have a short memory i was a young man in just the financial crisis of 2008 that we faced and i remember a lot of people in my age group are saying i'll never get involved i'll never do this i see what happens when the stock market goes down and here we are all the same people i knew i grew up with i work. with guess what they're doing today they

have their apps and their they're making investments and trying to be the next millionaire just like jim rogers. or younger siblings joining in and. i don't want to so this leads us to the next point of course we want to make the whole reddit wall street bats a game stop a saga that was so big just a few weeks ago there were hearings on the hill this week about it does it concern you when we talk about those retail traders that a small group can get together on the internet and actually squeeze a hedge fund who is shorting a stock is that a concern because you know e-mail like it or not like it you may think it's wrong or right but the fact is that the market in some capacity was manipulated. if you consider a short of. an hour yes that was that would that's correct for shorts around your neck and it's not a sort of standard be going to and this is all public record you can look up to see the short interest in any stock. in my career average goes back decades i'm also

seeing people look it up so i look at all oh sure it's a squeeze some. if they're acting in concert and that's against the law of course but if you are just all sitting there you come to the same conclusion and you tell everybody look at this i don't see that anybody has done anything illegal maybe it is wrong but to march it is self correcting brett a lot of people are losing a lot of money and you can read it but feel the 6 or 8 who made money but a lot of people who are losing and have lost and will lose a lot of money so these things usually self correct. and we'll have more of our conversation with jim rogers coming up in just a few moments but let's 1st take a look at markets this week markets were mixed across the globe as investors reacted to everything from rising oil prices to u.s.

stimulus and the deadly cold in texas let's begin in russia where the mo x is up thanks to rising oil prices and a stronger ruble gains on friday a race to pull back midweek now we're going to move to asian markets the shanghai composite it's in the green riding high from the start of the lunar new year but investors are watching rising treasury yields and concerns for overvalued tech stocks the hang seng in hong kong is in the green after a rally friday helped push the hong kong market into positive territory thanks to strong southbound inflows from mainland china over to japan the nikkei it is barely up this week disappointing us economic data dragged the index from insurer week highs and fast retailing company now that's the operator of fast fashion firm unique low has become the most expensive stock on the index let's move over to india the sensex is our 1st red arrow for the week after 4 straight days of losses due to selling in nearly every sector including banking auto and metal stocks now

many of us are simply calling this a profit taking since the index is up 20 percent since the start of 2020 now to australia where the a.s.x. is also in the red profit taking there helped push a sell off as well but this week the market saw its 2nd worst day since the year began australian investors are watching the public dispute between facebook and lawmakers over possible regulation as well as u.s. markets in south africa all share we had a green arrow there just slightly though for the week investors are showing caution due to a budget speech from the country's finance minister next. week which will provide more insight into the south african economic recovery and what moves may be made due to rising debt now let's move over to europe london's footsie it's in the green as well the pound has risen to a dollar and 40 cents for the 1st time in about 3 years optimism is riding high on the vaccine drive and news that pfizer biotech shot can remain stable at more

manageable tempters for up to 2 weeks that's good news there as well the german dax it's down for the week despite approval of the astra zeneca vaccine and a surge in manufacturing activity in the country in france the cac it's up for the week however french carmaker or no fell 3.9 percent and posted a record annual loss of 8000000000 euros the country also faces continued fears due to a reported surge in cases of the south african variant of the coronavirus moving across the atlantic to brazil but it's just barely down on the week there the chief executive of brazil's state led oil for petro brass is facing a possible ouster from president gyre ball so narrow the 2 sides are reportedly fighting over the price of gasoline as oil ticks higher in mexico the b m b it's up this week parts of the country are feeling the effect of that deadly cold snap that we talk about in texas the mexican president is calling on all mexicans to conserve power in order to ease blackouts and natural gas shortages north here

in the united states markets there are mixed across the board the dow is up the s. and p. well it's flat and the nasdaq is down as we discussed earlier treasury secretary janet yellen continues to tell lawmakers to go big on stimulus meanwhile capitol hill is preparing questions for big tech companies as they face a trust hearings next week finally we move to the great white north of canada where the t s x is down over inflation fears but overall positive retail data and higher body olds have the banking sector optimistic moving into next week we're going to continue to look at the state of. stocks here in the united states and those global coben 1000 numbers and that is your global market walk. in time now for a quick break but hey we're here because when we were churn a big coin is continuing its bull run hitting another record we'll break down the numbers to have more of our conversation with international investor jim rogers as we go to break here the numbers at the close.

imagine picking up the future textbook on the early years of the 21st century what are the chapters schools gun violence school shootings. first it was my job it was my bill it was my savings i have nothing i have nothing it has nothing to do i look for resources i look for jobs i look for everything i can to make this. in the eye and i'm doing this. the road to the american dream paved with did refuse it's this very idealized. americans look pasta that every single day this is

a history of the usa america. and welcome back because it hit another major milestone on friday as the world's most popular crypto currencies market value eclipsed one trillion dollars now friday afternoon because price went over the $55000.00 mark hitting another record just days after crossing the $50000.00 mark for the 1st time the price of bitcoin has now gained roughly 350 percent in just the last 6 months amid the rally all coins like light caught in a theory and have also made substantial gains meanwhile must defended tesla's

$1500000000.00 investment in big coin after the c.e.o. of by man said he was quote surprised by the entrepreneur being quite so quote gung ho on the meme token doge coit must tweeted quote tesla's action is not directly reflective of my opinion. having some big coin which is simply a lesser form of liquidity than cash is adventurous enough for a s. and p. 500 company to be clear i am not an investor i am an engineer i don't even own any publicly traded stock besides tesla however when fi at currency has a negative real interest only a fool would look elsewhere. during our wide ranging conversation with international investor jim rogers we discussed the state of commodities as well as the latest on this crypto bull run. we caught up with you back in singapore in september of 29000 our colleague christiane i sat down with you for

a wide ranging interview about many many topics and you were very critical of the crypto space now as you see institutional investors actually getting involved into big corn in the price soaring now above $50000.00 do you still think it's not a viable option and will eventually go to 0. i think as. many of those i'm already on and 0 you know that what are thousands of them now their own and hundreds and any of already disappeared what my view is if if these things become successful as a current state not a trading but as an artist you governments will step to reassert a monopoly and governments don't like losing control they don't like losing their monopoly i don't like it governments have these monopolies and controls what they do and grants they have the guns you know they have the tanks if they tell us it's illegal to use this as currency is most of us will not use them now i've never

a model or so to encrypt i wish i had a wish i'd been smart enough to buy that one but the 6 that are done well but i've never been involved other than as an observer and now there's also because i can't add gold and silver movement amid the pandemic as we see economies recover do you expect more growth in gold and sober or will it back away a little bit. well i own gold and soon or i haven't done any for a while i'm waiting for the correction you know but not by the way silver she put that gold on a historic basis so when i started buying again i will undoubtedly buy more sure than go. no before this is over i expect lots of interest and precious loves because through their out history when a condom is sent currencies and governments get in trouble as it's like me i always buy gold and silver and other politicians and academics can see again go for get go

i can say it all they want us cause it's know we need to go over there in the closet we need some code under the bed or until he get really really bad and we've seen that over the years or says governments move away from say the dollar and move into gold and silver for sure one last question. before we let you go there's been you know oil has struggled amid the pandemic also as a lack of demand due to the pandemic but now prices are actually around prepared demick levels mostly due to opec plus cuts which are the job prices back up but now saudi arabia expecting to ramp up production the next time the cartel actually meet what's your current outlook on oil at this point. oh i was going straight up there now last year as you know not a great clamps but it's gone straight up except here you're out i would suspect just looking at markets and knowing now that we're an early overdue for correction

in oil known reserves or oil continued truth on brant the fracking has stopped so i would suspect that 2 or 3 years from now will continue to be strong and be high but that rally that our lives experiences for nominal and we do need a correction and that's why i was in a break up is when you know you kind of talk about shale there you know it is a shell industry as we know is that over at this point here in the united states. you know it yes there are red so while that's else tracking money it would invest in you know we all know that you got to make money you got up there you go. it was a while literally it was well not that but what has popped which is great is broke saturday back to the industry fracking is not going to go away it isn't viable in real technology but you've got to make money at it and that is the reality that

which is set in and we'll be tracking there will be energy from fracking but not like it was before and you know we covered obviously a myriad of subjects different sectors oil gold crypto markets and just the general economy. mr rogers what are we missing in this whole thing what's the next frontier that you're seeing you know as somebody who keeps an eye on on where that real money is is there anything. i don't want yards that's how you sign. on the good around the world i mean stocks and we're getting it was a certainty of what will is never in the sixty's in history. a little bit about currency there's only ask. yes i see which is still cheap commodities beginning to rally true but agriculture still down a great deal i'm optimistic about agriculture i will buy more agricultural. but so

far commodities and especially agriculture are the cheapest assets left in are you just bullish on agriculture because it's cheap or because of just the general need for agriculture and around the world. well most of the you know. general george for iraq the reason those inventories are being worked on for and production is not as robust. myra's all of those prices went down. you know there's a saying you know saying internet secure for low prices is low prices the price of the local will go into the business i don't produce and that's happening. jim rogers thank you so much for your excellent insight we appreciate it we'll do it again soon. good work thank you thank you sir. and finally graphics card maker nvidia says it will reduce the efficiency of its

new r t x 3060 cards ability to mine a theory owned by 50 percent now there has been a worldwide shortage of the company's alter powerful 3000 series cards since they were released late last year due to demand from gamers who want them to play the top titles in crypto minors in a statement released thursday the company said it wants to make sure the products end up in the hands of gamers but all is not lost for you minors out there and the tech guy also announced plans to launch a professional cryptocurrency mining processor which specifically does not do graphics. and that's it for this time you can catch boom bust on demand on the brand new portable t.v.'s built on smartphones and tablets through google play in the apple app store by searching portable t.v. portable t.v. can also be downloaded on newer models samsung smart t.v.'s as well as roku devices or simply check it out at horrible t.v. we'll see you next time on boom bust.

in the 1920 s. and thirty's several 100 african-americans moved to the soviet union and many of their descendants still live in russia. no no wish for us though up most of us think lisa bloom things in your bios at their church. back home but i can merican suffered from racism and a complete lack of prospects. of the deal and i would be a losing one by elsa store on her by doing. so they decided to leave everything behind and start a new life in a country about which they knew almost nothing at all some of the rear groups who were too thrilled with your new. found great crowd. moulay

a dwarf you know gone to school. you. know almost a 100 years later the history is repeating itself my great grandfather george time we went to russia. probable worst time to go anywhere why not me. when i come here. the global seller markets approximately just under 2 trillion so certainly within a few months because it will be vaulting over silver it's on its way and my believe in 2021 to get half way or so against the market capitalization of gold that is it would be 4 trillion on its way to 10 trillion and then you know once it gets past all there's only the dollars left.

join me every thursday on the alex simon shill and i'll be speaking to guess what the world of politics sports business i'm show business i'll see you then. it's been decades since the fall of spain's fascist regime but old wounds still haven't healed. me from your do you are. in the present us as me in the scene in which we know. of newborn babies were torn from their mothers and given away and forced adoption. to this day mothers still search for grown children. hope for their birth parents.

becomes the 1st country to approve a free home grown coronavirus vaccines after. the green light. coming off the program. u.k. companies look to bring in controversial new jersey job contracts for employees. we don't think given the so many people who are. dark people should be big. u.s. president joe biden declares a major disaster in texas the state struggles to recover from a precedented winter.