game of frog which is the american business model is coming to an end. this is a boom bust the one business show you can't afford to miss friendship or in washington coming up the federal reserve has revised its outlook on the u.s. economic growth and the vaccination process has ramped up in the nation we have former fed insider on hand to discuss what the u.s. has several chinese officials in the lead up to a key meeting between the 2 nations we have a packed show today so let's dive right in. and we lead the program with the u.s. federal reserve the federal open market committee has been meeting for the last 2 days a year after lowering interest rates to near 0 all eyes are on the central banks

monetary policy with inflation continuing to be in focus while equities sit near record highs fed chair jerome powell spoke following the meeting saying the central bank will keep rates at current levels today the foam see kept interest rates near 0 and maintained our sizeable asset purchases overall inflation remains below our 2 percent longer on objective over the next few months 12 months measures of inflation will move up as the very low readings from march into april of last year fall out of the calculation. however these one time increases in prices are likely to have only transient effects on inflation. the median inflation projection of inform c participants is 2.4 percent this year and declines to 2 percent next year before moving back up by the end of 2023. the committee also said it expects g.d.p. in the u.s. to expand by 6.5 percent this year with growth of $3.00 in 2.2 percent for the next

2 years so for more on all of this and what it means let's bring in a little christiane and former fed insider c.e.o. intelligence danielle de martino both thank you both for being here danielle i want to start with you what was the takeaway from the fed wednesday. jack spectators were not. exactly matched my expectations i think he had to be very careful to not use the word patient patient patient which had been one of the words that we've gotten used to drone powell saying instead it was funny people on on twitter thought i was actually starting a drinking game i said let's count how many times he uses the word trancing and with reference to inflation and that really was the message he wanted to convey he wants to get the unemployment rate down to where it is full true full employment inclusive full unemployment i mean we want to get. black the black unemployment rate down the hispanic unemployment rate down he wants to see

a full healing of the labor market before he views inflation as being a threat to the economy. kristie how are markets actually reacting to these latest comments from. well the u.s. equities dipped early wednesday morning especially way down by tech shares as a mustard rotated out nervous about any signals on the future of interest rates on bond purchases so excuse fell about 1.2 percent in the morning session while the doubt edged up a little bit about point 3 percent for the past couple of weeks investors have trimmed bets on these tech names that sort of pandemic while adding on shares that were a kind of economically leveraged companies that should do well as the vaccine rollout progresses and more fiscal stimulus and has a financial system so right now energy and financial sectors they're leading the s. and p. supply its value so as the economy picks up there's a lot more leverage and earnings growth for cyclical companies however following comments equi search of the dow gained about 200 points and a. higher wiping out all the loss for the day reassured by the fact that basically

the fed said that they see no reason for interest rate hikes to 2023 did you know you know that we talked about bond buying they're going to continue to buy bonds for the foreseeable future what kind of economic debt are they looking at to stop those bond purchases at this point. well you know powell was asked this question directly when he was at the podium and he basically said i don't want to see forecast i want to see hard data that backs up the fact that it is appropriate for us to begin discussing tapering the bond purchases and by the way we will broadcast it widely you will be the 1st ones to know market participants investors. f o m c watchers you'll be the 1st ones to know because we will tell you well in advance when we have intentions to begin to reduce these large scale asset purchases so i will say that the drone panel today really did stick tight to his script but it also in a sense felt so scripted so we'll have to wait and see because right now the

attitude at the fed is that they can control everything and that really is not the way the world works i want to i want to talk a little bit about the broader economy and what we're looking at here in the united states this latest round of stimulus checks actually been going out a recent survey shows that 2 out of 5 recipients plan to actually invest part of it into stocks in crypto currencies including because is that actually going to help the recovery when you put it into the markets or is going to contribute to the ongoing bubble that we've been seeing with equities. it is absolutely going to be an accelerant and it's going to inflate the the bubble that we are to you know exist further to bank did a separate survey that found that a majority of those aged 25 to 34 were planning on putting all their stimulus into the stock market into some of these go go high flying stocks that we've seen and as far as for the macro economy the real economy what this does is a whole lot of nothing because it fuels speculation and it ends up pushing people

and keeping people through their 41 k.'s extremely exposed to a stock market that continues to become more and more overvalued as a factor of time so you can see the stimulus checks we heard $242000000000.00 already hit accounts via direct deposit you could also you could characterize much of these stimulus payments as being counterproductive economically and for so many years we could talk about when we get stimulus payments they're supposed to stimulate the economy you're supposed to go out and spend that but what happens what are we seeing here the people who have been able to maintain a job they are going to throw it into the stock market those who have been struggling they're going to pay bills with it so it's really not going to main street as they say kristie before we go i do have one last point about stimulus china is actually not very comfortable now with these massive stimulus payment that we've seen from the by the administration how are they reacting to this. it's funny beijing us freaking out a little bit with the previous c stepping up its not quitting support for domestic

businesses and increasing its monitoring of cross border capital flows so basically it's too much hot money that's rushing to china and the last thing that beijing wants to do is to import u.s. inflation on to mainland maging war and that's one point actually it could cause massive couples feel as i could exacerbate domestic financial risk some already high debt levels and so to offset massive capital inflows into domestic financial markets home to high returns the government is considering allowing chinese citizens to invest overseas including ally mainland investors by hong kong listed and this would be very ironic if that in the biden stimulus which is meant to restore equality between u.s. citizens then goes to unleash a new wave of chinese buying up the u.s. real estate making the entire housing market extremely unavoidable to americans boom bust co-host christiane former fed insider daniel de martino both thank you so much for the expert analysis today thank you. another day another round of sanctions from the u.s. this time against china in fact this marks the 1st sanctions imposed by the by the

new administration against chinese officials in this case the by the administration added new sanctions against 2 dozen officials it says have undermined hong kong's partial autonomy from beijing. china. were. under. this. device. on wednesday a spokesperson for the chinese ministry of foreign affairs weighed in on this new round of sanctions. you don't want to deliberately mislead public opinion and exert pressure he china will not succeed china has always been resolute. and national development and suddenly we urge the u.s. side to adhere to the be. international relational good you and not as you know things that endangered her interests. and this latest escalation in tensions comes

ahead of bilateral meetings between washington and beijing for more on all this let's bring in professor richard walter host of economic update and author of the sickness is the system when capitalism fails to save us from pandemics or itself which is available on e-book now and to bust co-host an investigative journalist ben swan bet i want to start with you on this give us a rundown of what these sanctions include. yeah so these sanctions are actually an extension if you will of sanctions that are already been imposed by the trumpet ministrations so previously all $24.00 of these officials which includes senior chinese officials as well as hong kong security officials all 24 of them had previously been saying by the trumpet ministration again for claiming to crackdown on the autonomy of hong kong in this case what it does it kind of extends those extensions me those sanctions and makes them a little more severe in this case what it does is that it says that foreign

financial institutions that knowingly conduct significant transactions with these individuals will now be subject to u.s. ancient so they are just sanctioning the individuals that are threatening the sentient any financial institution for an financial institution that may happen to work with these individuals so essentially saying these folks cannot be banked or cannot work with financial situations anywhere in the world that's the goal of professor of what kind of impact will this move have on bilateral talks between the u.s. and china that are upcoming. well obviously they'll make them more acrimonious though make them more difficult they'll make them more likely to fail to do such a thing literally hours or days beforehand is a very provocative way of functioning biden and ministration has followed mr trump in not raising the minimum wage now is falling mr trump in sanctioning frankly as an american i'm embarrassed by all of this the idea as mr blanken said

that there are punishing china for how it runs hong kong hong kong is part of china it was by force taken by england for a century which gave it back no one in their right mind to questions that this is an internal matter of the chinese it says if the chinese decided to sanction americans because of how we treated prior to recall and since mr blanton mentions north korea you're trying to wonder are we going to be held accountable because mexico is not treating it's a win then properly provoking demonstrations every day in mexico city and what kind of behavior no other country in the world practices this kind of moral lecturing of other people who do things that may indeed be bad but what can the world would we lived in if every country that disapproves of other country's internal behavior

behaves in this way it will not have a big economic effect this is very symbolic those individuals can work out their arrangements on the wilds and lastly it's sort of bizarre having grown up in america without a country telling me that the government should leave the economy along on private initiative years in the company of the government weighing in look we should've learned the trumpet ministrations trade war or. tablets were a failure this kind of policy thawing in that regard. larry strange to me to understand it and from an economics point of view it is bizarre. on a broader scale what issues are we supposed to be here about and be covered by these talks between the u.s. and china well that's the thing is these talks are very preliminary i mean the white house has already said that they're not they're not expecting much to come

out of this which is already a bad way to start right now or 1st bilateral talks with china under this administration and we'll see what happens we're not really expecting much we can talk about human rights they say where they go talk about type that they say they don't talk about hong kong they're going to talk about the national security law that was passed in china but to the point that professor wolf is making and i think this is a pretty significant point this accomplishes nothing it absolutely accomplishes nothing if the u.s. takes this position and says we're going to punish through sanctions 24 individuals do we really believe i mean on the any kind of legitimate level other going to posturing level that those $24.00 chinese officials are going to say ok that's it because the u.s. essentially us we're going to reverse course of the national position of china and the lesson that there's a whole discussion to be had over human rights abuses over the weaker and what's happening with that we're population in china but same sheening chinese officials will do nothing to resolve that so if you actually want to resolve it you actually

have to come up with some kind of plan that can really deal with those issues this is not the way to do it this is almost like we're going to provoke you a little bit before we come in to lecture you but we don't really expect anything to come from it so what is the point of it i think more than anything it's a posturing for the u.s. public to appear like they're being tough on china and professor wolf i want to one last point before we do get out of here today chinese companies targeted by a sweeping investment ban imposed by former president donald trump are now considering suing the u.s. government after a federal judge on friday suspended a similar blacklisting for beijing based smartphone maker show me does the lawsuit open the door for other companies looking to fight this blacklisting instead of dealing with a diplomatically we can now deal with it legally. absolutely i'm sure that they're busy if they haven't already filing suits they have every incentive to do it it gives them a public platform to explain that they are not being properly charged to use

america's own ideology of let's say thing here let the government keep its distance from the economy against the interference of the economy it's a chance to barras the united states yeah it just shows you on a messy counterproductive game these maneuvers against china have always been professor richard wolfe and boom bust co-host ben swan thank you both for your excellent insight today. thank you. time now for a quick break but when we come back with the rising hope of mass vaccinations global travel is on the verge of eating up we'll bring you up to speed on the potential regulations we could see moving forward as we go to break the numbers of close. to.

join me every day on the alex salmond show and i'll be speaking to guests of the world of politics sports business i'm show business i'll see you then. the sand had to. move along with.

that on a lot of the rather tough it out for a kid that. only . compatible and then you. can keep an. eye on you. know that. it's whole full. time interior this is. a. model for the the whole fuck around this to have to jim and then i hope

that our. welcome back as the us continues its race and vaccinating millions newco but strains are also beginning to appear across the country in fact the director of the centers for disease control and prevention told congress the coburg 19 strain known as b. 117 1st identified in the u.k. now accounts for 25 to 30 percent of u.s. cases for a complete look at how the u.s. is doing you could argue correspondence sites have a. serve brand in the u.s. right now we're seeing an average of 54000 cases per day that's a decrease of 16 percent compared to weeks ago while nationally the number of new cases continued decline you know the trend is actually not down for every single

states in fact these 14 states cases a drop anywhere from 10 to 20 percent compared to last week but the good news is that deaths are down 35 percent while hospitalizations also continue to decline now looking at vaccinations where the u.s. is vaccinating it little over $2550000.00 people a day so right now a little over 15 percent of the adult population are now fully vaccinated and as vaccines continue to ramp up states are racing to stay ahead of the growing number of variants specially the very contagious varian which was 1st detected in the u.k. which has already spread to at least 48 states plus the other 2 strains devore 1st addict that in california they have now been officially label as variants of very high concern but by health officials bug the good news is if providers if they continue to administer the current pace of vaccine doses per day as receiving right

now will reach some sort of herd immunity by the end of june plus president biden and now it's that he will be directing the federal government to secure an additional $100000000.00 doses of the drugs and drugs and vaccines so with 3 vaccines now in use to us we'll have enough vaccine doses by the end of may for all available for anybody over the age of 16 now already and number of states started expanding their vaccine eligibility to everyone or over the age of 16 now the latest massachusetts with montana opening vaccines to air. everyone starting april 1st so that's all there good news brant right now so i want to look at europe germany is actually seeing an uptick in cases what's happening there now that's exactly right now again if you just look at the numbers you'll see that you know

it's no secret that germany is seeing a shopped rise in cases in recent weeks now this is a 3rd wave that we're seeing also comes at a time as germany has suspended the use of the astra zeneca vaccine now the w.h.o. has repeatedly said that using the astra zeneca shot should continue while it carries out a safety review but the bad news for the e.u. is that once it became clear that germany was pausing that vaccine the pressure mounted on other governments to hold off as well i don't fear of seeming and cautious and for the sake of united front e.u. but france and italy they say they are ready to quickly restart astra zeneca vaccine every regulators come from it's still safe to use. r t correspondent sites have a thank you so much for keeping us up to date. and is that as the vaccination drive continues air travel demand neared a one year high now according to data released by the transportation security

administration more than 1300000 travelers checked into american airports on the 12th of march now that's the most since march 15th of 2020 just prior to widespread lockdowns across the country should be noted of course the travel numbers in the u.s. are still down 38 percent from where they were preparing demick now amid all of the discussion about travel in the cold air we've heard so much about the idea of covert passports in fact the e.u. has proposed the creation of a digital green certificate which would allow vaccinated in vaccinated citizens to travel throughout the block without the need for a mandatory cord see the certificate would be given to those who could provide proof of vaccination a negative code. 19 tests or proof of recovery if they had previously had the virus so this raises a lot of questions about covert or vaccine passport use of for travel and do that let's bring in christopher elliott he's a chief advocacy officer with elliot advocacy he's also

a columnist and author of the book how to be the world's smartest traveler chris for the 1st a pleasure to have you on the show i want to start with the idea of these covert passports or what the e.u. is now calling a digital green certificate how is all this going to work and is it going to kind of be a pain for consumers to get everything needed to have one of these documents. well right now the most developed all of the digital vaccine passports is for israel and what we're seeing is that if you have a passport like this you can go to the gym you can go to a restaurant or go to a public meeting and you can travel as well so that the speculation is that the passport will work in much the same way in europe when it's adopted the timeline for this is sometime around may they're expecting to have it but as you point out the verification process is going to be very interesting the e.u. from what i know is going to be using a patchwork of databases so each country has its own vaccine database so it's going

to be pulling from them remains to be seen how they will pull how you will be able to verify whether or not you've had a vaccine or what your status is in terms of recovering from coverage 19 those are all details that still have to be worked out and now there are also reports that as china begins processing visas from travelers from dozens of countries they will not allow foreign visitors who have not had a chinese made vaccine and this raises a question are we going to see this be a problem in other nations with a list of so-called maybe approved vaccines for instance you might have trouble traveling to the u.s. or europe if you had russia sputnik the vaccine or the chinese or what do you make of that are we going to be picking winners and losers when it comes to vaccines for these passports. it's a little crazy we're just talking about the astra zeneca and vaccine in germany and in europe what if that vaccine for example is not approved i mean this is this is a can of worms we don't know how it's going to work i think that some countries are

going to let anyone in are going to verify anyone for their digital vaccine passport and i think others are going to be more selective like you've seen in china right now and on a broader scale have airlines done a good enough job of ensuring safety of passengers when it comes to traveling amid the pandemic and and how does it look moving forward as demand picks up and we start to see these passports and they really start packing those passengers in airplanes again or where you're like a sardine and fitting as many people as possible. unfortunately a lot of airlines have already started packing their passengers on to planes it's just it's a supply and demand a profit thing i guess they had they're trying to make as much money as they can in these difficult times. but i do think we're going to see is. much more about. sanitation on the on air train air travel we've already

seen that some airlines of course have done a better job than others and it's really comes down to passengers passengers want to clean experience i think by and large they're getting on right now i saw a survey of epidemiologists that said flying now is about as dangerous as going to the grocery store so we go to the grocery store a lot flying is not much more dangerous than that so i really do believe that you know we're going to see as the summer unfolds people fly christopher elliott chief advocacy offer officer with elliot advocacy thank you so much for joining the show you're very welcome. and that's it for this time because boom bust on demand on the brand new portable t.v. apple vailable on smartphones and tablets through google play in the apple app store by searching portable t.v. or will t.v. can also be downloaded on newer model samsung smart t.v.'s as well as roku devices simply check out a portable t.v. with the next time on both of us. i.

i. i. i. max geysers financial survival guide. housing bubble. oh you mean there's a downside artificial mortgage truth don't get carried away that's cause report. stand in here for most of. whom one has. a good arm or are more trouble for the hour rather than a profit off the floor for them to care that are. only used to let them but i don't touch them then you cut them and kick and. i don't lose each other for truffle that it. won't work

then i'm wanting my machine little subtle. mind. set up around the hey fun of doing. good it's whole food place choice for you the i knew where you're from and theosophy chime in syria says. he she ought to have a. model for that in africa will fuck around with mr hates it for jim and then for her for that are for him and for. the money. one of the worst mass shootings in america was a less vigorous in 2017 the tragedy exposed a little of the real last. election officials are controlled by could see you know the. reveal where. really and now it's partly because

finishing the american public barely remembers that it happened just shows you the power of money and. the powerful showed that true colors when the pandemic hit the most contagious contagion that we've seen in decades and then you have a mayor who doesn't care so here's care i did an offering the lives of the vegas residents to the control group. deep indifference to the people could have been saved if they were to take an action absolutely. machines doing in a money machine huge cash register that is ran by people who don't care about people's lives being lost. unlike taste like sight or unlike hearing the brain doesn't have an organ for time right we have no organ for it nor could we because time isn't a material physical substance like matter or like late so the

brain has to create that perception of time. moscow warns of a new low in ties after the us president brands his russian counterpart and killer look at whether joe biden's promise that diplomacy is back is in fact a stab in the back. of the band vaccine exports outside the block because his job campaign struggles to get out of 1st gear there in the states thinks the could be the answer. you can send me and other vaccines i strongly insist that the president issued sation vaccines as soon as possible. human rights standards for trade deals the u.k. foreign secretary comes under fire after a leaked audio recording reveals him saying the u.k. should strike deals with nations with poor you.