but for all big tech companies that they would have to pay media groups and local media whether it be t.v. channels newspapers magazines whatever it is they would have to pay them for posting their content on the platform facebook didn't like that idea because of the clause for arbitration essentially saying look if you post this content let's say from 7 news in australia or from something that is owned by news corp in australia which is those of the real big media entities there if those that content goes up you have to make similar deals with smaller publishers you can't just run their content on your site not pay them anything if facebook didn't like that idea because there was an arbitration clause that said they would have to go into arbitration instead facebook says we want to just be able to decide what we're going to pay and notice that that quote that you just read the quote that comes from facebook i'm from campbell brown former n.b.c. anchor who now works in communications for facebook the idea is facebook is essentially saying by being on our platform if you're some measly little newspaper

or you know journalism publication you are basically receiving something from us that's of great value getting to be on our platform and therefore we shouldn't have to pay you anything because so what if you're on the platform we don't need you as much as you need us that's essentially what facebook is saying and there's that wow that's crazy especially considering how much facebook makes off of ad revenue and how it has become as big as it is right now because of all of those smaller publishers that have taken to their platform and it's interesting to see how they're flexing their power not just by saying that to the smaller publishers but also with cutting off those news pages altogether yeah i mean just the fact that they were able to do that and to really show australia hey this is the bargaining power that we have here ok so we're calling this a compromise and some analysts believe that it will mean that the smaller publishers will get left out of negotiations altogether is that likely here i think it is possible that there. going to get locked out because the truth is facebook

again doesn't feel like they need to have them on there but the other thing that's very important here is that facebook is essentially saying we you know are essentially invoking our right to decide what content we want on our platform and so we might not want you on the platform we might not want to have your newspaper or your t.v. station our platform will decide which ones are of value and by doing that because google is interested a very similar agreements by the way they've been pretty quiet through this whole thing because it in cut off news but they've been entering into private agreements with very large media companies so what you're going to get on facebook in australia is not a more fair playing ground for for journalists or for journalism or for news what you're going to get is very limited access for anyone who is not part of a major one or 2 or maybe 3 major news corporations and they'll be the entire face of news in australia so it's not good for the consumer by any means and it's certainly not good for independent news or smaller media groups because big

companies like rupert murdoch's news corp will be the ones who basically suck up all the oxygen in the room because they'll in turn to these sharing agreements and it's good for them if there's less competition and facebook is fine with that and not only in space the planning here but also those larger corporations are winning here because you know there are already annoyed with the fact that they have all of the smaller publishers and independent companies coming on and taking away their readers and their revenue so facebook has also made it clear that under this new compromise this new agreement they will have authority over which new services are allowed to use their platform so that they are not forced into negotiations is that correct yeah yeah that's essentially what they're saying but i think it really goes deeper than that with facebook wants to be able to do is control everything about their platform which by the way is not a platform it's a publisher so really but facebook has become as a publishing house not. platform if it was

a platform they would say hey it's open and we set up a basic revenue model 'd where based on the number of user clicks you get you get paid that's pretty simple that's the way it's supposed to work on you tube even though it doesn't actually work that way because google game's a system there where they decide that some content creators are worth more than others and no one really knows how they decide this but if you wanted to set up a fair system you'd simply say as a platform we sell ads and so based on the number of user clicks you get you get paid for that that's pretty simple and pretty fair but doesn't want to do that google doesn't want to do that because as a publisher they want to actually control what content goes up and what is deemed valuable on their site that's the right that they're also reserving here we will decide what's valuable not the government and certainly not the independent newspaper or journalist who puts their content up yeah certainly a lot for everyone around the world and for those countries that are also looking at doing this they should be watching this right now and seeing what exactly facebook is doing and just how much power they're showing in australia great

insight as always bent on thank you so much for your time. thank you. we're now learning more about the latest investigation into boeing 777 model plane was forced to make an emergency landing when its engine caught on fire shortly after takeoff federal investigators say that metal fight scene was likely what caused the flan blades to snap scattering the debris zoë cross neighborhoods below now incredibly no one was injured by this incident but the investigation is still ongoing and a final report has yet to be issued on just what went wrong so joining me now to discuss is really going to challenge captain and president of wife consulting group mark weiss mark thank you so much for joining us today i want to take a look at this incident because it's being compared to

a japan airlines flight back in december and another united airlines flight from 3 years ago both of which had the same model of engine so does this appear to be a specific problem with the 7777 model who you really got to. the model of the aircraft. this is the asian that on it you know the triple 7 has a number of different engines different power from different manufacturers that the group separates and even within the same fleet you may have been some of your earlier to me and others were general electric so it's not the air cleaner should it's. ok so a lot of people should be looking at the company behind that engine and exactly what they're doing with it now the footage we have seen from this incident reminds

us just how much of a close call this really was both for the passengers on the plane and for the residents below who had the debris is falling into their yards is that why we're seeing a rush to investigate by federal officials right now well certainly that is one of the reasons but i think the other thing is let's go back a little bit in time you know particularly who has who hears where we've had the 737 and the f.a.a. in many cases very slow to act which react and i think with the trying to do is overcome that has aura and show the public and here once that they're being more preemptive they're really getting. the f.a.a. n.t.s.b. or all the do very very thorough investigation we're going to look at this and nobody the arab or the aircraft manufacturer is. nobody wants

their name to be associated with an accident and assumes that include the sub and find out what the responses are in the face of that if you move beyond this point and that's a critical issue and definitely a lot of those passengers are looking to see just what federal officials have learned from those past examples that we've gone through over the last few years now notably when commenting on the latest issues with the united flight 328 the chairman of the national transportation safety board said he could not share when the aircraft or its engine were last inspected or even how often that inspection was required from your experience is there cause for concern when it comes to how often inspections are required. well the fact that he was given that information immediately could just simply point to the fact that he didn't have it and. or that he was ready to divulge it at this time these agents an

aircraft are very structured in the times that they have to go for me it's very precise and you have to have a certain number of hours or takeoffs and landings on an aircraft were before has to go for maintenance so this isn't something going to anybody's i'm sorry or that you can hide this is going to be very well documented and it's going to be public knowledge when it comes out in the press and in the reports from the n.t.s.b. yes well that's good to know and gives the passengers a little bit of peace of mind there now we're talking about a plane from boeing here this company has been a center of controversy and rethink years after those 2 deadly crashes involving the 737 max that you mentioned earlier so even though no one was injured this time around how do you see the latest news playing a role in the public's trust in this company and its products moving forward will

think about this for a 2nd what my opening statement really was to you this was an airplane this is an engine issue but they know that you're here is 0 you can use a triple 7. and that's what sticks in people's mind when you go to the airport when you buy a ticket and you take a look. you see what kind of an aircraft it's in the same boeing or airbus or whomever but it's not going to who the engine is who manufacture that or piece of equipment so you know it's just part of virtue of being associated with an incident it's going to be a lot more in a company that has a very warm hole to dig out of. you know that's an excellent point and now do you see there being more speculation about those engines this civically do you see more people actually talking about the engine itself and there being more speculation there or is it going to be one of those things where federal officials just try to

continue to cover for and say that they're doing everything that they can do. i don't think federal officials or anybody you can cover for the industry or some of the people both worldwide and certainly in the united states that you're not going from room the reputation of an industry or an agency by truth to cover something up there's already been enough market slump over the last few years and nobody wants a more. efficient is a safe endeavor i mean i never got over 20000 euros more than 20 years and there are. i have never had a major incident where going to that. is inherently safe and it gets safer all the time when you have something like this it just exacerbates the situation but again what we try to do is you try to learn from it and prevent it from happening again on their engine or any other. right wing great insight as always on this very

important topic mark weiss thank you so much for your time and analysis today. thank you. time now for a quick break but when we come back one of the u.s. economy expected to rebound and how does that federal reserve plan to respond to the latest concerned over inflation well discuss that next and as we go to break here are the numbers of the club. article of faith russian liberals do not like love you up until now russian liberals have been chanted with the western so-called western values twister the ideological well because it is changing its focus of disparages tradition patriotism the family and even logic like the russian liberals this appears to be

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not who runs the show on the web how can anyone stand up to the tech giants if even the heads of state face the threat of being banned is there any limits to hold that . belief. but i was reading one way.

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the state of the u.s. economy and hopes for a return to normalcy are the hot topics on capitol hill as federal reserve chairman jerome powell testified before the senate banking committee on tuesday while he said that a klein in covert 1000 cases has sparked hope through a return to more normal conditions later this year powell also noted that the overall economic recovery remains an event and far far from complete where the path ahead that is still highly uncertain has her concerns about inflation he said the fed's current policy of altro low interest rates remains unchanged the pandemic has also left a significant imprint on inflation following last climbs in the spring consumer prices closer we rebounded over the rest of last year however for some of the

sectors that have been most adversely affected by the. prices remain particularly soft overall on a 12 month basis. inflation remains below or 2 percent longer run objects. joining me now to go further in depth on this topic are boom bust co-host christy i and michelle snyder partner and director of trading research and education for the market gauge group chrystia let's start with you here what do you how those comments mean for the market and how is the market reacting so far. a rachel right now you have. i can say and it just rates and a rotation into stocks that are more linked to the economic recovery so it's dumbfounds off the lows after fed chair paul prepared testimony to congress saying that inflation was soft easing periods of a policy change by the central bank however the price pressures were mostly muted and that the economic outlook still remain highly uncertain so inflation fears have risen sharply within the last few weeks amid the rise in bond yields and investors

fear that a spike in prices due to federal stimulus could force the central bank to raise short term borrowing costs so tech names the ones most vulnerable to higher interest rates they saw from recent days as investors rush to book profits in these pandemic winners so the sell off could be interpreted as the beginnings of market jitters as cyclical sectors like energy financials they become more attractive and take the front seat so meanwhile rising rates are also going to benefit the financials copper and oil prices which would in turn be the industrials the energy and in this year all sectors higher so you're starting to see a growing divergence in the market right now you have the tech heavy nasdaq down more than 5 percent this week while the dow which is comprised mainly of cyclicals that's only down about less than a percent since friday's close so we're definitely off the lows of the day as some of the fears a policy change by the central bank or east and reiterate that we're still a long way away from him going to place in goals and it will likely take some time for substantial further progress to be achieved and i know that

a lot of people were sighing with relief a little bit when it came to powers comments about inflation they're now michelle the key focus is on the rising long and treasury yields here so given powers comments is the fed uncomfortable with the pace of the rise in bond yields and how will the fed prevent guild's from rising too much too fast. it was interesting that he was not really asked directly today about the rising yields but as christine just pointed out he sort of answered it indirectly because the rising yields are a result of an economic recovery and fears of inflation so he basically tried to put both of those fears to bed by saying that inflation which is the way they measure it not necessarily what we're all seeing as consumers is not a problem ready to let it run hot and that the the economic recovery although we're starting to see signs of it as per the rotation into cyclicals until we have

a much more robust labor force he's not really considering the economy to be anything yet but fragile so that's where he comes in in terms of dealing with the the yields now the fed actually cannot really do anything about it because the only thing they can do is lower the fed funds rate in order to deal with the short term yields and that's already at 0 to less than a quarter percent so there's no way to go on that so he did exactly what he needed to do which was basically calm the market down to didn't do anything for the short term yields and we could go right back to that formula tomorrow if we could not see any kind of easing but for now at least he calmed down from our taper tantrum that people are worried about that certainly isn't like you accomplish that at least now christine we of course have to talk about bitcoin here the price fell about 17 percent on tuesday so what is causing this pullback and is this the beginning of a down trend. no this is not the beginning of the downtrend because it's really

funny how we always resist at this topic every single time we see backwind pulling back a little bit because let's be clear we've seen bitcoin go through 30 percent 50 percent pullback this is not abnormal for this asset and most of the time the reason is the same you have large scale liquidation that get triggered due to highly leveraged positions in the market so you have these massive liquidation that all these technical stop levels where traders purposely hammer at the top in order to get liquidation so then you get better pricing to buy that shit so that is once again what we see happening here you have about $5600000000.00 worth of futures positions being liquidated in the last 24 hours but then at the same time the funding rate for big went still remains at point 15 percent even as it continued to drop which is quite high so this means that the over leveraged buyers were actually aggressively buying every single day and that the market still remained overheated even as opec happened so as a result new buyers during the short term downtrend what they were continuously

liquidated all the way down so this was almost like a coordinated shake out very similar to the drop that we had below 30000 in january where we also had a massive shakeout of all the stop levels so this actually gives buyers a lot more confidence because it implies that the man is still plentiful and that big players they still want their bits built and right now the over leverage positions and bequeathing that's not the full story because you have the same thing happening in the fire market so on monday the flash crash liquidated more than $2524000000.00 worth of the fi love with compound users representing more than half of the margin calls followed by ave so yesterday's liquidations they were the 2nd largest to hit the fi after the one in nov 2020 and these liquidations were exacerbated by the recent extreme gatsby's associated with using this year in may net because traders are being quoted for about $30.00 for a simple token transfer so users. racing to outbid each other and the network

congestion spent a lot of the trade in closing out their positions in time but very similar to the last one once the domino effect of these liquidation settle will be left with a very nice healthy base of users to create a higher support level right now we're feeling out where that will be which will likely be around the $40000.00 level you know those are good points to keep in mind especially as we see the price fluctuating now michelle life lastly i want to ask you about treasury secretary janet yellen comments warning that the dangers they say the bitcoin poses to both investors and the public what issues is she talking about there and are these legitimate concerns. well shit really has a top $31.00 is that it's inefficient for transactions 2 is that it has a carbon footprint the size of new zealand and that it also has lends itself to elicit financing so let's talk about the environmental concerns 1st of all anything

that is produced digitally has environmental concerns that they're talking about using a digital currency for the dollar that would also put out a lot of electricity as soon as you're using a lot of computer energy that's going to happen so there's no proof that the big coin energy usage is going to be any less than what's already been used for any massive type of energy use now with that said there's been some research and if you really want to know more about it nick carter from koin desk he wrote a big article about it but essentially what he said in the article is that china is the largest producer of the largest miner all of big coins and they use hydraulic tronics and from that process which starts out with aluminum they're actually read purposing wasteful energy about 8 percent of the energy gets wasted in normal use so our concerns are not necessarily warranted in terms of the financing and the a list of financing richey i've never heard of you when you wondering have you been this sort. and they had so. definitely some interesting comments there very

great points all around michelle snyder christy i thank you both so much for your time. that's it for this time you can catch boom bust on demand on the portable t.v. ad was the very next time and as always don't forget to question morn. the british and american governments have often been accused of destroying lives in their own interest what you see in this these techniques is the state devising methods to him to essentially destroy the personality of an individual. by scientific. this is how one doctor's theories were allegedly used in psychological warfare against prisoners deemed a danger to the state that was the foundation for the method of psychological

interrogation psychological courtroom. disseminated within the u.s. intelligence community and worldwide among our allies for the next 30 years and how the victims say they still live with the consequences today. by the pandemic no certainly no borders and islam to nationalities. has emerged that was a really we don't have the facts in the whole world needs to be. people. judging. 2 commentary crisis christensen's times we can do better we should be. everyone is contributing your own way but we also know that this crisis will not go on forever the challenges created with the response has

been must so many good people are helping us. it makes us feel very proud that we are in it together. financial survival. when customers go by you do so. well reduce and lower. that's undercutting but what's good for market is not good for the global economy. we're more politicized than ever or more polarized than ever the 21st century when speed is measured in megabytes per 2nd. and of course he'd see him

at a tronic mail electronic money electronic media infinite possibilities for exchanging information. freedom of speech and social media bends censorship and double standards who should judge what can be said on the line. of the internet audience no totals almost 4500000000 almost all of them are active social network users but one wrong move from the pages deleted digital annihilation don't exist anymore. not who runs the show on the web how can anyone stand up to the tech giants if even the heads of state face the threat of being banned is there any limits to hold that. belief. but i will have reasonable way.

russia slams the u.s. for undermining free trade in fact competition to washington but it's about european companies putting out of the nord stream to pipeline project in the face of u.s. sanctions. u.s. democrats demand cable and satellite providers justify hosting right wing media outlets a move republicans say is an attack on the freedom of speech. israelis face being banned from public places and even job son less that they've been vaccinated against 19 but the so-called green pulses are raising concerns over human rights always of choice has

a consequence and it shouldn't be that everybody in israel sophos because.