led to an unprecedented blackout what other l. officials revealed what they know so far about that fiery engine that forced an emergency landing in colorado and what it could mean for the future of the boeing 777 then i reserve chairman your own powell give his take on the status of the u.s. economy and what we can expect in terms of unemployment and inflation in 2021 we have a lot to get to so let's get started. facebook and the australian government our friends once again nearly one week after the social media giant took unprecedented steps to ban content from news pages within the country the battle surrounded a proposed law which would have required facebook to pay news publishers or be forced into arbitration australia's treasurer says they have decided to back off of some of those proposals but talks are expected to continue well facebook has reached for ended

a strike and destroy you news will be restored to the facebook platform and facebook has committed to entering into good faith negotiations with the strain news media businesses in seeking to reach agreements to pay for content. in a statement facebook said quote after further discussions we are satisfied that the australian government has agreed to a number of changes and guarantees that address our core concerns about allowing commercial deals that recognize the value our pop for improvised a publisher is relative to the value we received from them so joining me now to break this down the coast and investigative journalist ben swan ok so grand what do we know about this new agreement between facebook and the australian government here. yeah sounds like everything kind of points toward facebook got their way centrally facebook for about a week shut down all news on its platform and i'll show you said we're not going to

have news because the government there had said for not just facebook 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 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 in their state 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. 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 they're 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 on 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 they spoke 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 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 what facebook has become is a publishing house not a platform it was a platform they would say hey it's open and we set up a basic revenue model 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 baseball 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 gain 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 across 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 american airlines captain and president of weiss 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. you've really got to. model the aircraft. this is in the asian that they're easy 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. some of your earlier to me and this general electric so it's not in the air cleaner should it's an issue. 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 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 as aura and show the public and here once they're out there being more preemptive they're really getting. the f.a.a. n.t.s.b. or all the do very very thorough investigation with all of this nobody the arab or

the aircraft manufacturer is. nobody wants their name to be associated with an accident or incident in the service that includes some to 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 might have given you that information immediately could just simply point to the fact that he didn't have it

and. or that he was ready to divulge at this time these things considered aircraft are very structured in the times that they have to go for me they're 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 by nice and sharp 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. yeah 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 we'll . think about this for a 2nd what my opening statement really was to you this is an airplane this is an engine issue but the name that you may hear is 0 you can say 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 him the engine is manufactured that piece of equipment so you know it's just part of virtue of being associated with an incident it's going to be a black mark 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 you know the industry or some of the people who are can certainly do the united states that you're not going to try and ruin the reputation of industry or an agency by truth to cover something up there's already been enough market slump over the last couple of years that nobody wants a more. efficient is a safe endeavor i'm going to go over 20000 euros more than 20 years and your. i have never had a major incident we're going to have if usually isn't 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 try to learn from it and prevent it from

happening again and they shouldn't or any other. right one 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 when i think u.s. economy expected to rebound and how does that federal reserve plan to respond to the latest concerns over inflation well discuss that next and as we go to break here are the numbers of the quote. seems wrong but i will just don't call. me. yet to say pal it just didn't get educated and it gets written because the trail.

when so many find themselves worlds apart. just to look for common ground.

the british and american governments have often been accused of destroying lives in their own interest or 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 court for the cia disseminated from within the u.s. intelligence community and worldwide among allies for the next 30 years and other victims say they still live with the consequences today. were more politicized than ever or more polarized than ever the 21st century when

speed is measured in megabytes per 2nd. just on the views in your local shelters and of course he's in him electronic mail electronic money electronic media infinite possibilities for exchanging information and misc greyish my misery nationalized freedom of speech and social media bends censorship and double standards who should judge what can be said online. already planned. the internet audience now totals almost 4500000000 almost all of them are active social network users but one wrong move and their 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 heads of state face the threat of being banned is there any limits to hold that virtual power of the postal before

i look reasonable for a nudist but i will have reasonable way. 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 with a path ahead that is still highly uncertain as for 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 so overall on a 12 month basis inflation remains below or 2 percent longer. joining me now to go further in depth on this topic or bimbos co-host christine 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 comments mean for the market and how is the market reacting so far. oh rachel right now you have. a can they in the it just rates and 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 fears 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 a cyclical 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 powells 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. because what was interesting he was not really asked directly today about the rising yields but a. chris you 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 but when 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 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 you 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 because 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 for the thief i love with compound users representing more than half of the margin call followed by og 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 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 and 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 quine desk he wrote a big article about it but essentially what he said in the article is that china is the largest producer of a lot of just mine are all of big coal mine 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 illicit financing i've never heard of you when you wondering have you been this sort i

think it's so. definitely been interesting comments there are very great points all around michelle snyder christy i thank you both so much for your time. back there for this time you can catch boom on demand on the portable t.v. after was the very next time and as always don't forget to question morning. or at. the british and american governments have often been accused of destroying lives in their own interests while 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 other victims say they still live with the consequences today. was a pandemic no certainly no borders and islam to nationalities. has emerged we caught up with the we don't have the facts world needs to be. judged. come in a crisis with christensen's times we can do better we should be.

everyone is contributing each of our own way but we also know that this crisis will not go on forever the challenges created with the response has been masked so many good people are helping us. it makes us feel very proud that we are in it together . it's been decades since the fall of spain's fascist regime but old wounds still haven't healed. me from your. post at the us as mean older than they seem to you know. of newborn babies were torn from their mothers and given away and forced adoption that only leaves the feast or. to this day mothers still search for grown children

while looking in hope for their birth parents. the e.u. flock down showdown brussels pressures reluctant members to open up their borders to get the block back on the move but 6 k. states say they're staying shot. across the atlantic hoffer 1000000 american covert deaths and counting yet no mass vaccination in sight but despite the morbid milestone president biden escapes the criticism previously level that donald trump's handling of the crisis. and we hear from a canadian man who received hundreds of death threats and felt forced to move across the country after testing positive for kobe.