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tv   Boom Bust  RT  March 1, 2021 9:30pm-10:01pm EST

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and faster as well so big point is the sign of a peter peer payment to a star hampered by high volatility and relatively constant transactions. quite a ways away from being that a lot of regulatory hurdles to deal with and where that can happen. we've seen big drop back from $58000.00 which the all time high to as low as $43000.00 in the last 24 hours now you predicted a correction correction on this show just last week so i'll let you take your victory lap you're not surprised by this at all are you yeah i'm not surprised by it i don't not even sure is worthy of a victory lap because i think it was. i think it's the kind of thing where when you see what's driving this and there are some big announcements the mastercard announcement that christine mentioned ago a big one tesla coming in and buying up what 1.5 $1000000000.00 in big one that's a big announcement that always drives the price up because it spikes in the market the bigger story is what you lead off with go in from last march at 4700 dollars
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according to today at $48000.00 a coin that is such an unbelievable amount of growth within this space but the truth is we're talking about tipping points the tipping point was back in 20122013 when they began to receive adoption as a real payment. and currency even though i know technically it's not a currency according to the i.r.s. and according to the f.c.c. that's that's where the tipping point began so christie is absolutely right there are better options out there in terms of a digital coins and crypto currencies in terms of the speed of transactions and being more efficient all of that is absolutely true the tipping point though is the recollection and the recognition by people around the world that there is a better way there is a better way to finance there is a better way to hold currency and there is a better way than just handing all currency over to central banks and governments around the world that devalue our money and take advantage of it. when they don't
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really have a right to and that's the real tipping point it's a mental tipping point not a financial and just to clarify i don't want you to put words into christie's mouth but i know you both just alluded to this that there are better payment options so big going may be the tipping point of cryptocurrency adoption in some capacity but really there are going to be another coin that might be that international trade token that we're going to really see where it can actually do something because maybe it's more stable like you said it's bastard transaction that's the realistic that right all right well absolutely what about and real quick on that that is true what what's important about that is it won't just be one. people tend to want to move towards one thing is like well this is the thing it doesn't have to be that way because so many different coins are being developed and yes some simply as currency but others in terms of technology so there can be multiple coins that compete in that space and think about that brand a competitive marketplace for currency that's almost something that just a few years ago was unfathomable to most people and it's becoming
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a reality today and that leads us to the next point that we want to make here kristie i want to talk about car down oh i hope i pronounced that correctly i apologize now richard which is now the 3rd biggest cryptocurrency after bitcoin in the feria what do we need to know about that kristie. so hard on those ticker a.t.a.i. it's a 3rd biggest cryptocurrency and they are gaining over 2000 percent in the last 12 months so the network right now is about $40000000000.00 and developers are actually launching a major update design to make it into him multi-faceted network vary so much it's your amp and today march 1st is actually a big milestone for 88 which will allow to support traditional currency peg points and let users create non fungible tokens to prove ownership and authentication of everything from social media post to digital are using public blocking so today's actually big day and as of now smart contracts to centralize finance and non-tangible tokens are a huge range of digital assets and they could be used by the native assets to cash
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in on so the timing is really great for cardon to introduce teams which have really had been having its moments spotlight in recent weeks so as ben was saying there are major quantum major competitors of quiet so a.t.a.i. which has been dubbed previously the east killer is actually on track to become a very big competitor in the space of the fison f t's but a major difference in this upgrade is that there will be no execution bees which are usually charge the user when interacting with a token smart contract on the block so in the recent wall runs ether and all of the other your c 20 tokens they add externally high gas fees to $2.00 network congestion cardon on the other hand their fortune on chain with no need for smart contracts and therefore no execution fee is required to transact with native tokens so as we said the concept of this being this is tele has been around for quite a bit but as of today he still remains can so currently does over 1400 independent staples operating on the card ob watching but still has
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a large developer pool which is currently building bylines applications and interfaces such as met a mass compound protocol so easily kills it with daily active addresses right now with 760000 comparisons 71000 active users are khandaan. so right now there is a bit of a race like ethan but i don and does have a potential to catch him but i got it just about 35 seconds for you on this last one autonomous region in china is reportedly banning crypto mining that's the inner mongolian development and reform commission what's the story there and how did that affect this bull run that we're selling this afternoon you know the story there is since 2019 the chinese government has criticized energy consumption in this particular region and so they have banned it because it takes a lot of energy to mine big coing so that has been the case they've backed it's actually been discouraged to mine because in china all the way back to 2018 so for almost 3 years now it's been
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a been an issue there i think it will continue to be i mean the energy consumption associated with that is big but he it's not simply going to drive the price down just because you can't mine in one place you're going to mine it someplace else boom bust co-host ben swan and kristie i thank you for breaking all of this down for us. and the director of the u.s. centers for disease control and prevention has signed off on johnson and johnson's koeppen 18 vaccine for those over 18 years of age the move by the c.d.c. director rachelle wilensky follows the food and drug administration's decision to approve the one shot vaccine for emergency use on saturday the authorisation of a 3rd vaccine in the united states comes as the nation continues to struggle with supply issues johnson and johnson vice president of medical affairs dr richard nettles told us lawmakers last week the pharma giant was ready to ship nearly
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4000000 doses as soon as the drug received emergency utah use authorization adding the company expects to supply 20000000 doses by the end of this month now for more on this in the state of the vaccine rollout let's bring in our key correspondent saya tablature saya let's actually start with the latest coburn $100.00 cases numbers where are we monday sobran much of the world is actually seeing kovan 1000 cases falling and i'm not just talking about this week it's for the 6th consecutive week that infections have plummeted worldwide so that's really good news if you want to look at just the numbers of new cases in the u.s. you'll see that case numbers right now remain as low as they have been since late october now while that's a really good news ride there's also been a 30 percent drop in testing in the u.s. where we went from a high of 14 a 1000000 at testing a week in our early january to fewer than 10000000 testing right now which was the
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same level of testing morrisey in october so again in october we were seeing lower cases lower testing and again now lora testing which is a lower case says so could there be a correlation between the 2 it might be but experts are citing a number. factors for the klein case numbers so it could be fewer exposures would mean fewer people may have getting contacts that would require them to take a test so think about social distancing people are doing that they're not getting tested as much of a holiday rush is also over which means fewer people are getting tested before and after trips now there's also been severe storms all the way from texas to the north east which we're may have caused many testing sites to close temporarily not a big one that health officials are worried about is pandemic fatigue so versed in the beginning of the pandemic if people weren't feeling well they will get tested
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but now they're reaching a for teac so they're not getting tested as much finally there is the vaccine rollout which they're also contributing to the crease in case numbers and with that the u.s. right now is ministering about 1.7 $4000000.00 doses of the vaccine per day which would mean roughly 7.5 percent of the u.s. population right now is fully vaccinated now that's still quite a ways away from the 70 to 90 percent of the population that experts estimated we need to be vaccinated to reach our herd immunity which is why vaccine distribution is so important right now and with a 3rd vaccine now in play which is the johnson and johnson vaccine they are going to be playing a crucial role in distribution in fact johnson and johnson is expected to deliver
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$4000000.00 shots just this week and another $20000000.00 shots by the end of the month so with the doses expected to be delivered by pfizer and johnson and johnson nearly all of the u.s. population can be vaccinated as early as december of. this year brant. how does this job steve jobs and vaccine differ from the other vaccines we've seen approved so in an ideal world a vaccine would be delivered in a single shot so supplies could be stretched to cover a lot of people now would also have no significant side effects and would be able to easily ship and store well we now have that with the johnson and johnson vaccine if you compare it to the other 2 vaccines here johnson and johnson is the only vaccine there you only need one goes and it also doesn't need to be frozen which helps it in transport now although the johnson and johnson if you look has a lower efficacy than the other 2 vaccines it's very important to mention that all
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3 vaccines year they have shown to have no hospitalizations or deaths in large clinical trials so in essence no vaccine is actually better than the other when it comes to preventing deaths and that's the important factor now the only difference is that the efficacy is very. graphically because for example the new aggressive very very ends were in widespread the edward mcgurn pfizer released her vaccine so while johnson and johnson has a 72 percent efficacy in the u.s. it has a 68 percent efficacy in the u.k. now is 66 percent efficacy in south america and 57 percent efficacy in south africa so while we at least know that the johnson and johnson will prevent deaths in the more aggressive variants found globally it's not entirely clear just how well the madeira and pfizer will work against the mutated viruses brant archie
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correspondent cited passenger thank you so much for keeping us up to date. time now for a quick break but when we return u.s. equities are rallying after a dismal week when we come back we'll see who's having a big. they break down the market movement as we go to break here the numbers of the quote. on the campaign trail joe biden said nothing would fundamentally change he was right washington is against you legally bombing syria and one trump ism. any time soon.
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during the vietnam war us forces are also bombs in neighboring laos there was a secret war. and for years the american people did not know. how much it is officially can rebound country per capita. human history millions of unexploded bombs still in danger lives in this small agricultural country jordyn wieber went on to another topic. even today kids in laos full victim to bombs dropped decades ago is the us making amends for that tragedy and. help to the people need in that little land on.
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does she don't think you can and can do it on their own with a single bundle was soon enough that it equals on its own just listen to what he calls a stale snake i. don't need to tell him to. move it that to those wooden men as a solicitor does hold us it all. seemed wrong why don't we all just don't. let me. get to shape
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out these days become educated and indeed trade equals betrayal. when so many find themselves worlds apart. just to look for common ground. there or tactics that can be used to get innocent people to confess to crimes they didn't commit i don't even think people in the us really get that the police are allowed to lie to you the person who falsely fast actually came to believe the lie that they were told about their own behavior once a false confession is taken the case is closed and nobody really can tell the difference between a good confession and one that isn't. welcome
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back former french president nicolas sarkozy was found guilty in a paris courtroom on monday in a case of corruption tied to an investigation into campaign finances of the former leader who was in office from 2007 to 2012 was convicted of bribing its senior magistrate judge with a job offer in exchange for confidential information judge gilbert as a bear now faces the same sentence after he was caught using a quote secret telephone line to relate tips about an investigation into whether star cozy received confidential payments from l'oreal heiress liliane bettencourt during the his 2007 presidential campaign the author cosey was has since been cleared in that inquiry he is still being investigated over claims that he received millions from ousted libyan leader moammar gadhafi and he committed fraud overspending for his failed 2012 reelection bit now the latest probe accuses him of influence peddling over advisory activities in russia however sarkozy is unlikely
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to see the inside of a prison over the latest conviction the majority of his 3 year sentence has already been suspended. and as thousands of amazon workers or warehouse workers at an alabama facility are voting on whether to unionize they are receiving the backing of u.s. president joe biden the president post a video late sunday offering support to the workers without ever actually naming the e-commerce giant saying well he it wasn't up to him if workers join a union it should not be up to the employer either. today and over the next few days weeks workers in alabama and all across america are voted whether to organize a union in their workplace and there should be no intimidation no corps no threats no anti-union propaganda. no supervisor no supervisors you confront employees about the union preferences if the $5800.00 workers weren't a vote in favor of joining the retail wholesale and department store union this
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month it would be the 1st in the u.s. to do so a group of technicians in delaware who work for amazon voted down unionization in 2014 the last time workers with the company attempting to organize many warehouses throughout europe operate under union contracts and the u.s. equities rallied on monday as vaccine optimism due to the approval of that 3rd vaccine we talked about earlier pushed markets up now the dow the s. and p. and nasdaq all and p. and nasdaq all gained at least 2 percent at times throughout the day the rebound for the tech heavy nasdaq was so significant after losing nearly 5 percent last week let's go ahead and take a look at the state of markets in the economy with activia morency c.e.o. of optimist l.l.c. always a pleasure to have you on i favor you i want to start with this high tech names are rallying again today as rates stabilized the 10 year benchmark dipped slightly to 1.42 percent on monday and it appears to be stable at these levels is the level of
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rates becoming a threat to equity valuation and do you anticipate it can anticipate it will continue to rise at this point. well i think definitely this market's been driven by these really low interest rates from one of the way of seeing that it's been driven by just the huge amount of liquidity of the fed and other central banks have pumped into the market so yeah this is very much a threat if now interest rates start to inch back up that's going to be very very bad for the longest term long term stocks no sort of growth stocks have long term prospects so if we see things start to tick up again it's going to be very detrimental impact on a cruise valuations it is kind of interesting that the very short term interest rates everything below 12 or 3 years has remained very very low indeed and once you get to sort of the 10 mark and the 5 year mark and even a 30 mark out there you said we've seen interest rates go up quite a bit and that is a very much risk for equities markets if that becomes a concerted move upwards it's going to crush the markets i think it's going to be
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very very bad for them indeed but i don't think the federal out that to happen so i think there is definitely a put option in there the fed will step in and take care of that and warren buffett there that ultra low interest rates around the world the minish the appeal of the bond market instead is focused on the equities market or berkshire hathaway have started bargain hunting amid the market come back i think with names such as chevron of arrives in an apple now given that valuations are so high in the equity of the market where investors supposed to look for bargains in this quiet. well that is of course the $64000.00 question where do you find bargains as an environment a lot of the tech stocks look wildly overvalued and you look at their price earnings multiples or just at salute a stratospheric i think one sector that has done very very well though recently has been sort of the banking sector and i think that's a sector worth looking at there we see the p. e. multiples actually being extraordinary low so this firms like morgan stanley and
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goldman sachs and j.p. morgan whose p. e. ratios are some about $10.13 which is a fraction of what we see for some of the tech stocks and bear in mind if you look at what's happening with interest rates that is actually quite been. fishel the banks so what we've seen is the long term interest rates creaking upwards and the short term interest remaining very low and you can think of the banking business in very simplified terms as being borrowing short term lending out long term so the difference between long term and short term interest rates is actually very very good for banks and it's not increases so if we continue to see sort of the long term interest rates the 10 year the 20 the service year go up while short term interest rates remain very low we will see the net interest margin of these banks increase quite significantly so i think that's a sector to look at and look at carefully is have a look at that it's always funny that the warren buffett talking about bargain hunting that's for sure now it looks like airlines are starting to position their businesses for a recovery as more vaccines are distributed globally united has even moved up delivery of 40 boeing $737.00 max aircraft the 2022 and all together has $188.00
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orders for the single aisle max now this deal comes as united continues to push for a 3rd round of government payroll relief for airline. you know do you see octavio at this point air travel demand recovering quickly by 2022 and it's very interesting to see united say we're going to purchase all these airplanes but also can we get some money from the government what do you take of make way take away from all of this. well i guess airlines it like united have to sell the story to the government that they're going to be around and they're going to carry on transporting people and carry on employing these people so they basically almost have to do this but i think the idea that travel is going to fully recover and recover that quickly is a very very bold bets so i think it's an insurance a risky bet on the part of united to do that to say we're going to buy all sorts of new airplanes now i don't really see the need of that i think ultimately the balance of the risks suggests that things like business travel are going to jump
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back anytime soon and that accounts for a lot of the market more sort of retail tourism stuff either perhaps that will that will come out but that's not that's not really something to build a business plan of that of this proportion so i'm not sure they're getting their numbers from i think they're being a bit optimistic and i think i guess it's a bold bet it's a bold bet i the wire act there were over 3 of up with our feet thank you for your insight as always. thank you. and finally genealogy site my heritage has released a new service that uses technology to enemy faces in photographs now the tool called deep. is intended to add lifelike movement to photos of relatives who have passed away the program uses a database of prerecorded facial movements and applies the one that works best to pretty much any picture of a person my heritage says it hopes people will find it quote magical but understand some people may find it a bit creepy the latter of which is probably why it went viral over the weekend as
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people uploaded photos of pretty much anything with a face that they wanted to see come to life you just have to sign in up for a free account at my heritage to use the service the company says the photos are automatically deleted to protect privacy however they did not mention what happens with all that account data you provide when you sign up and that's it for this time you get to bust on demand on the brand new portable t.v.'s available on smartphones or tablets through google play in the apple app store by searching portable t.v. . have a good one next time. since it doesn't. pay them is the. obvious that. he's.
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just the type to use a lot of time in the. moment. as a. few good. for them. but again i was on the. wrong. it is driven by dreamers shaped by one person of those. who dares thinks. we dare to ask.
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shit in the. name a little going on in james olmos redoes should own the song don't tell you that means i can do the whole joking there on the stand on the mobile song in that are equal in it's own just my song and what he calls this tells me going on in. this will lead then suddenly i'm doing all the more with that to those all moving in as the song is this is also the acid all to the sitting on.
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the. the banks are supposed to be distributing the money that's their job but instead they hold onto and say we're just going to buy more houses for ourselves and we don't care that we're not distributing it you know all these relief programs they go to the banks 1st and they don't distribute the whole lot to
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i did jamie diamond become a billionaire he didn't actually produce anything he just keeps all the money that the government prints. is your media reflection of reality. in a world transformed. what will make you feel safe from. the isolation and the full community. are you going the right way or are you being led . by the way. what is true what is faith. in the world corrupted you need to descend. to join us in the depths. or remain in the shallows.
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so what we've got to do is identify the threats that we have it's crazy going for indication let it be an arms race on all sides hearing dramatic development only mostly i'm going to resist i don't see how that strategy will be successful very
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critical time to sit down and talk. bass pro and anti-government rallies are being held in the armenian capital with police attempting to keep the crowds apart as political unrest in the country intensifies. also in the headlines this hour joe biden is slammed for going soft on the saudis after failing to deliver on his promise to punish the kingdom's crown prince for his alleged role in the murder of a prominent journalist. lashing out at the lockdown violence erupts in several countries around europe as people fight back against coronavirus measure. and you un human rights experts demanded an international investigate.

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