and trump the ironic thing is that the camps or facilities or whatever you choose to call them appeared while barack obama was in charge along with vice president joe biden mr biden didn't even shy away from admitting responsibility made a mistake made 2 took too long to get it right took too long to get it right i'll be present united states not vice president hoops is he still not getting it right speaking of vice presidents once in $29.00 cavalera scored political points by protesting outside a cab and homestead florida where teens detained at the border were being held well there's now plans to reopen that homestead facility to. so you are trying to report and that's that brings up today police say fossett idea or not he will be with in about half an hour.

this is the one business where you can't afford to miss i'm rachel blevins in washington coming out the u.s. has an honest way to approving a 3rd covert 19 vaccine as johnson and johnson gets the green light from the f.d.a. so how soon will the drug be ready for emergency you clot board members are now resigning over the crisis in texas that has led dozens dead and millions without power and water and officials are now promising a criminal investigation then led by administration is calling for a review of critical supply chain in the face of global shortages but ending a trade war with china isn't on the list will this guy we have

a lot to get to so let's get started. the food and drug administration is close to adding a 3rd kovac 19 vaccine to the market here in the u.s. but if you are created by johnson and johnson has been endorsed by the f.d.a. staff setting it up for approval from the agency studies of the single those vaccines show that it's a level of protection vary by region but has found that it has an overall effectiveness of just over 66 percent preventing moderate to severe virus disease approval for emergency use could be granted as early as this week at. the fall out of a massive winter storm in texas that left dozens dead and more than $4000000.00 residents without power and below freezing conditions now includes a criminal investigation and resignations at least 5 board members who oversee the texas power grid have announced that they are stepping down as the energy crisis turns into a water crisis for millions of texas residents artie's train

a child that has the latest. today mounting devastation in texas and over there there are. almost 30. i hope the death toll from freezing temperatures and widespread outages rising higher officials in texas reporting at least 70 deaths with dozens of homes that lost their heat but officials say the full death toll could take months to really want to acknowledge just a man human suffering we. have when people lose power there are heartbreaking consequences when we had to make tough decisions when the storm came in and really didn't have a choice texas county d.a. jose garzon opening a criminal investigation into whether any person or entity should face charges for the outages it was a fault of man whose responsibility it was to ensure that these assets were

functioning in case something like this 100 year freeze if you will would come 5 board leaders of texas' power grid operator urquhart now stepping down following outrage over the deaths caused by the outages scrutiny only intensifying when it was revealed that all the board members live outside of texas at that they would probably take better care of earth says we you don't pay your electric bill they got a could in elf. they should have made sure they had grades done now hundreds of thousands of texans are struggling in the aftermath of one of the worst power outages in u.s. history our systems have been all worked out the way we've needed them to and so there's a lot of people that are hurting and so there's just been a bad collision of a lot of things not working right. the state's power outage disaster now transitioning into a water crisis with half of the state's population still battling water infrastructure problems because of the cold weather nearly 15000000 residents were

ordered to boil water to make it safe to drink the more they view you that's what we're born more and nancy wilson who just suffered a stroke among those in desperate need of clean drinking water i don't have any water and while power had been restored in most of the state tuesday 7 and a half 1000000 people in 200 in poor counties remained under boil water orders long lines seen for miles out water distribution centers across texas people have been here since 7 am and actually before. they have been here long enough to have to have some cars this oh man we're trying to help with that as well. and now as temperatures warm the sign is causing frozen pipes and water lines to burst throughout the region causing severe damage to homes and businesses adding to the growing list of woes from severe conditions that were blamed for the more than 70 deaths and to make matters even worse texans on variable rate electric bill contracts have been hit with immediate massive price spikes that surged during the

storm and while governor greg abbott is promising relief he has yet to say how meantime president biden and the 1st lady are expected to meet with abbott and other state officials on friday in houston reporting for boom bust as are to. wipe out the power grid and the leadership now in the spotlight in texas let's bring in former u.s. congressman dr ron paul to discuss now dr i know that you're there in texas this is your home state and many have been looking for something to blame in all of this whether that's an increase in green energy or a lack of preparation by natural gas producers but is this the case where texas was just hit with the perfect storm all around. i think you can count all of those things of course the precipitating event for this to hit everybody has been the weather i guess there was too much faith in global warming and that didn't happen and we got something that nobody was expecting and i think that was the precipitating event but there's also a lot of intervention

a lot of people say how could this happen to texas texas free enterprise and their boy and capitalism they'll be prepared they didn't want to participate in the national planning the whole thing is texas can be pretty bureaucratic to an error agency it was not exactly oriented toward you know the marketplace for instance we developed energy according to other factors than the market for instance the 30 percent is renewable energy solar and wind then you can adjust very well when you get in on a 6 expecting an unexpected storm and that was one reason they didn't adjust so this had a lot to do with it was not the preparation they tried to go out as usual with the usually they have an examination of the wind power. but nobody went out and looked at the windmill this year because they were all misled in involved in cove it. which has its problem is so covert was a distraction and that made the security for the in power in the back up not there

and besides the market didn't decide what kind of energy we had the market would have said use gas maybe some nuclear or something else but we would be dependent you know on and so were so the pricing mechanism was distorted here in this state and so therefore when you disturb the market you can adapt to emergencies very well and that's where i see the prime. minister is there were there was and way too much interference that disturbed our recovery efforts. and it seems like it was what went wrong all around us now we all seem to be asking and we're all. now talking about this electric reliability council of texas where 5 of their members have now announced their plan to resign and because of that we're suddenly learning that they don't even live in texas and of course any texan will tell you that they don't want politicians in washington making decisions for their state so how did we get

to this point where the entire power grid is controlled by this outside governing body. well the assumption is made whether it's the state of texas making mistakes or the whole country make it or the united nations making is that bureaucrats should run iraq and i think of the bureaucrats how they're handling code it they're not good at this so the whole idea of just transferring some of this power and authority to an agency it at the state level doesn't really help because they ignore the market take it take for instance fracking has been a blessing in a way for texas and the energy and prices were down and everybody was happy about it until we didn't it didn't last long and couldn't compete anymore but why did they do that well why did they make malinvestment because our interest rates rigging interest rates or create a how many people make decisions that helps you make decisions on pricing so we went off and did different things the greenies pushed the wind power fracking was

encouraged by low interest rates and then you had a management firm that didn't even live in texas and in a free market you don't have management firms you have the market you may have prices and you have contracts dealing with this there would be an obligation to be prepared and you can do that through market contracts and understanding but this way if you depend on the bureaucrats expect a lot more of this because that's exactly what bureaucrats do they mess things up that they do you know and now we're finally talking about not only what's going on in texas but it seems to be this much bigger debate that we're having across the united states where democrats want to focus on green energy in the name of the environment and then republicans warn that their plans will limit innovations in oil and gas and will force the u.s. to rely heavily on outside sources would you say that there's some sort of happy medium here that we need to be looking for or is it much more likely that we're going to continue this back and forth between parties yes get the get the

bureaucrats out of the way and get the politicians out of the way because you know i'm still. sympathetic although it's politically incorrect that nuclear power sounds very interesting oh no it's the most dangerous thing in the world of course it isn't there it's been some bad accident that's for sure but if you look at all the energy nuclear power is pretty say a hand nobody thought software thinks well is nuclear cheaper or more expensive well it's a lot cheaper and yet france has 70 percent of their energy comes from from nuclear but why that is a nuclear you know well known we don't even know the cost of nuclear because the government subsidize that they did all the research they provide the insurance they guarantee protection and make his safe for everybody and therefore we don't have nuclear were wiping wiping the nuclear out we're reducing it at the same time the market might have said well it's cheap and it's safe and we can learn from the people who have made mistakes and france can do it they have 70 percent maybe more nuclear power would have saved us from this mess instead of saying well turn off

the wind power turn on but make the wind go faster at the time time the ice comes and freezes up away never thought of that as the symbol that just really bothered me was when you took saw pictures of the windmills hanging with ice and you saw a little helicopter flying over there spraying it like they're going to melt that ice and get us our energy back again there's something wrong with that system it's not the free market that created that monstrosity and unfortunately it seems like too many people don't pay attention until it's too late and then all of a sudden they start talking about maybe walk one thing that free market or even thinking that they had it when they didn't now of course because it taxes they have received some assistance from the federal government over the last week and there really has been a lot of criticism of governor abbott and his so-called reliability council here do you see this crisis having a long term impact on the priorities in texas moving forward do you see anything really changing out of this. no not really the emergencies that are in place and

people pay for in advance you have to do your very best but i don't think they're going to learn their lesson i don't think i'm going to get a phone call i get it from your station which i'm pleased with i'm not going to get a call from. abbott because he and the people in texas pertains we're free enterprises we believe think cavil is and they don't have a vegas understanding what it means because it has a lot to do with the setting of interest rate the price of money and not protecting special. special come companies who make profits on their visit they've been doing that in texas for years we have we have for over 100 years regulated the price of oil because it was good for oil in texas and it's only recently that they drop that responsibility but it would then instead of going to something else and going to the marketplace they went to how do we satisfy the people who are making the most most emotion or is asked the greenies we have to take care of them before they

before they mess things up so they capitulate when a people that believe and understand how the market works it works imperfectly but believe me it works a lot better than the mischief that the bureaucrats get us involved in all you have to do is look at what's happened with the way they've handled the how they've handled the economy and how we handle our business cycle and how we handle deficits for as and then you come along and we've got an i still warm well we've had ice storms before and they said everything as the ice storm i was a i could bake with tongue and cheek the blame goes on those people who made us too complacent thinking tomorrow we're going to have global warming and we'll never have to worry about this again. you know that all of the important principle of understanding the market is something that a lot of americans and bureaucrats of course can certainly work on then they've privileged to have you on the show today dr ron paul thank you so much for your

time thank you nice to be with you. the financial tech company square is the latest to get in on the bitcoin action the news of its 4th quarter porches worth $170000000.00 sent the price of the cryptocurrency back up to around 50000 see jack dorsey is calling bitcoin the native currency of the internet and it's estimated that as many as 3000000 customers using the company's cash out payment system bought or sold bitcoin last year the enterprise software company micro strategy also announced on wednesday that it has purchased more than $1000000000.00 and bitcoin says to confirm its 1st purchase back in august c.e.o. michael saylor says he believes bitcoin will one day have a market value of 100 trillion. the federal aviation administration

has confirmed it's now ordering an inspection of the engine at the center of an ongoing investigation into the boeing triple 7 it the agency noted that the engine developed by pratt and whitney was used on $128.00 older versions of the plane i counting for less than 10 percent of those delivered to customers in the u.s. south korea and japan that model has prompted at least 3 m. urgency landings in recent years with the latest over colorado being blamed on metal fatigue after the engine caught fire minutes after takeoff. time now for a quick break but when we come back in the face of a global shortage of semiconductors the biden ministration is launching a review of the fighting so what will that mean for the ongoing trade war with china well that's just it next and as we go to break here the numbers out the quote .

were more politicized than ever or more polarized than ever the 21st century when speed is measured in megabytes per 2nd. electronic mail electronic money electronic media infinite possibilities for exchanging information i mean the. freedom of speech and social media bends censorship and double standards who should judge what can be said online. the internet audience know totals almost 4500000000 will most all of them are

active social network users but one wrong move on their page is deleted digital. don't exist anymore. it's not who runs the show on the web how can anyone stand up to the tech giants if he from the heads of state face the threat of being bent is there any lives to hold that virtual. community but i was reasonable way. when a traumatic. changes us literally because it's a chemical change in our d.n.a. and this changes the where genes function. sometimes for generations. l. look forward to talking to you all that technology should work for people. a robot

must obey the orders given by human beings except where such orders would conflict with the 1st law show your identification for should be very careful about artificial intelligence the point of view screen is to create trusts everyone of them shia. conflict take on various chozen with artificial intelligence will summon the demon. the robot must protect its own existence as a mixer. with . a massive trade war between the world's 2 largest economies along with historic lockdowns in response to the coronavirus pandemic has led to a global storage of semiconductors everywhere from automobiles to smartphones

president biden is responding with an executive order calling for a 100 day review of supply chain for critical materials including semiconductors batteries used in electric vehicles pharmaceuticals and rare earth elements and while the action doesn't call out beijing by name it does come as the u.s. looks to work with just about anyone but china and as biden indicates that he has no plans to lift the terrorists implemented by the last administration so joining me now to go further in depth on the topic are boom bust co-host and investigative journalist ben swan and host of economic update and author of the sickness is a system professor richard walls are a professor let's start with you here what will this review mean for the ongoing technology war between the u.s. and china. well it may be a bit controversial but again i'm afraid i have to say this is mostly political

theater we are concerned about the shortage absolutely we want to do something about it so we're going to study the problem oh my goodness again as if we didn't know what it was and as if we weren't in fact looking to become less dependent on china we have to understand that minimizing a competition maximizing profits requires american companies to create supply chains like their competitors are doing and that means relying heavily on china because of what it has achieved to this point and that's not going to change because we study it and it's not going to change because we wish it were otherwise there is very little but you can do and so you have this theater to look like you're concerned of doing something but basically private enterprise is trying to survive and in doing so creating global supply chains left and right and they've been doing it but 30 years. yeah and it is interesting to see now we're talking

about it once again as it goes from one administration and one party to the next here in the u.s. now ben this is a big issue in terms of china becoming far less dependent on the u.s. over the past year correct. that's right i mean i think the professor is right when he says you know when we're talking about studying the issue that doesn't really resolve anything it doesn't resolve anything here's here's the reality though of the situation with semiconductors the trumpet ministration really try to block china from having access to semiconductors specifically for companies like wall way to have access to them as well as companies that he said that the trumpet ministration claimed were working with the chinese military well as a result of that what china did was they stopped being so dependent on the us in terms of you know buying semiconductor chips from the u.s. in the says sort of developing their own they also bought up incredibly large numbers of semiconductor chips and they've been holding them and using them over time kind of rationing them along the way so what that leads us to is the point

we're at today where the u.s. once again is playing from behind we're behind china in this respect where did nothing to actually slow down what china is able to do but instead we now find ourselves in a position where where we try to figure out how u.s. companies are going to get access to semiconductors number one not smart but number 2 rare earth materials you mentioned that in your lead up that is so significantly important because china is the largest country in the world in terms of having those rare earth materials needed for the development of electric batteries and specifically for conductor chips they're way ahead of us in terms of that so the u.s. has got to find a way to be able to stop trying to you know pick fights over this stuff and figure out how do we access it in a way that is mutually beneficial and fair to everyone and we haven't been doing that and the question then becomes who is going to figure out that way and of course is that going to happen any time soon now professor we've talked

a lot about the u.s. and china but at the same time china has now reemerged as india's number one trading partner despite a relationship that seems to continue to sour why is that. well i think it underscores the point i tried to make before india and china have actually had a military conflict in the last few weeks and months so it's a much more intense conflict than the united states has with china and notwithstanding that the dependence of the indian industry on buying capital goods particularly machinery and so on from china keeps going up because if the indian economy is going to survive and compete in the world it has to go to where the machines are the lowest price and the best quality like everybody else and that turns out to be china in many important respects so despite their military conflict the chinese are exporting and the indians are importing large amounts of material

and that kind of interdependence is being shaped by the world economy and the politicians can dance around with their theater but in the end they are less able to shape it that it is shaping them have that's a really good point and it is interesting to see how this is playing out even as their politics may not be on the same page especially when it comes to their militaries now been searching there's a little bit this idea of criticism of trump's trade war with china while he was running for office it now appears that biden himself might actually we would trump tariffs and place what do we know about that. yes so it sounds like that might be the case of the by the ministration is looking at leaving a lot of these tariffs in place which i don't know if we've talked about this yet today but we talked about it on the show multiple times before which is that a lot of corporate corporations in the united states don't like these tariffs they have been upset about them for some time but whether or not they stay i think

really depends on the kind of the position that biden ministration takes over the next couple of years with china in regards to trying to you know work out trade deals and at the core of it you really have 2 schools of thought within the by the administration you have some advisors who are saying we need to focus on developing a better relationship with china and others who say you got to take a hard line with them but remember the hard line concept taken a hard line with china the idea behind that was we will slow china down and prevent them from becoming the world's largest fastest most vibrant economy what we find out a year after coronavirus is that the chinese have actually pushed up the date in which they're expected to become the world's largest economy and that's expected to be moved up by about 5 years is going to happen in 7 years so the reality is that they are accelerating their growth and so the u.s. is not going to stop that from happening by trying to create a tariff situation where we don't have good trade what we need to be focused on is how does the united states build a better economy for its own people not how do we can china's economy. the next one

question or if they have this administration is the one to figure it out great points to consider here as ben's ron professor richard well thank you both for your time. thank you thank you. you can slip anything past internet sleuths these days just a few short hours after nasa released a video of last week's historic mars landing by its perseverance rover curious viewers couldn't help but notice an odd pattern emblazoned across the parachute it turns out nasa is team leaders not a hidden message into the design which was quickly to code it as the perseverance team motto of dare mighty things also included work ordinance pointing to nasa as jet propulsion lab and that wasn't the only easter egg aboard the intrepid spacecraft take a look at this family photo of past rovers which also made it to the red planet fascinating to see just how creative they can get well that's it for this time you

can catch a boom bust on demand on the portable t.v. ad was seen here next time and as always don't forget to question more. i. the energy of the avalanche is stored on the side of the mountain. all it needs was smells like to release that catastrophic energy so here you have the energy of hyperinflation is already stored in the system it's already there on the form of the fed's balance sheet they've got trillions and trillions of trillions of paper that is going to come out in

a flood and suddenly this will happen. as suddenly purchasing power and confidence of the currency collapses and you have a hyperinflation. 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 doctors 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.

in a day of political upheaval in armenia the prime minister's call for early elections is rejected by the opposition he also says the country's military must pay him after he sacks the head of a. forces saying he was part of an attempt to. my old soldiers spoke this is general rules do your job god borders on the territorial integrity of armenia this is my world and no one can disobey. the clashes erupted as thousands of protesters as well as supporters of prime minister in the coal face tell from the capitol yet. another news to come this hour essential vaccines for.