tom. always gauge with a. question . you're more likely to walk free if you're rich. in one now. so you should be seen in a whole lot more if you don't take that advice.

this is boom bust the one business show you can't afford to miss i'm rachael love and in washington coming up conflict tells the chinese government it doesn't hard to buy for the u.s. but just how much data are today's cars collecting from their driver all the stuff . under the direct threat of u.s. sanctions austria's top willing jobs company is standing by its word on the nordstrom's your pipeline and telling washington to stop threatening your friends. as the rest of the world hears and place and the federal reserve ready to embrace

it saying it's ok it's right now is on getting americans back to work we have a lot to get to so let's get started. tesla is back in the spotlight as china moves to restrict the use of the company's electric cars by military and state employees but while you on musk has been quick to deny allegations that tussles cars are used to spy for the u.s. government this conversation has raised the question of just how much data smart cars have the power to collect in the 1st place chinese officials are questioning how much is being documented by tussles cabin camera which is meant to record the driver in the moments leading up to a crash or what happens to all about location data saved by the vehicle and it's not just tesla any car with a build an internet connection has the same power that includes information on where you go how fast you drive and even who you call the question then becomes how much of that data is taken in by companies like ford and general motors and what do

they do with it in the case of a recent car accident involving professional golfer tiger woods police say they are looking to the. event data recorder known as a black box in his vehicle to find out what caused the crash and it doesn't stop there a new study from the washington university school of medicine is looking at whether the changes your car notices in your driving habits could be enough to diagnose you with all simers disease arguing that sometimes our vehicles know it before we do we're going to take a look at what your car knows and if it knows too much but 1st here's our. with the latest on why china is accusing tesla of being a threat to national security. to a tesla c.e.o. in one musk facing new fallout after china's government banned tesla cars from their military bases and barred military personnel from using the electric cars over concerns that the data the vehicles gather could be a source of national security leaks the move coming after chinese officials raised

concerns over the cameras installed in tesla vehicles during a security review because they can record images constantly and obtain data including when how and where the vehicles are being used as well as the contact lists of mobile phones saying to them fearing some data may be sent back to the u.s. china moving forward to ban the cars but tesla c.e.o. musk says that's not the case speaking virtually at the development forum he said ensuring data security is the responsibility of an enterprise tesla is willing to use the highest level of measures to protect customer data security and create a mutual trusting tomorrow with everyone news of the restriction surfacing as top chinese and u.s. diplomats held face to face meetings in alaska at that same forum must urge for greater mutual trust between the world's 2 largest economies saying china and the united states have more common ground than it looks look forward to the 2 countries

meeting each other how far away must understandably concerned by the move that's because according to chinese officials in 2020 china was the world's largest aleck . vehicle buyer purchasing $147000.00 teslas accounting for 30 percent of tesla's global sales still though after a testy 2 days of discussions of the 2 countries at odds we certainly know who knew going in that there are a number of areas where we are fundamentally at odds with the. transactions are drawn with regard to what hong kong the 1st high level talks since president biden took office yielded no diplomatic breakthroughs just further fueling an already troubled relationship between the 2 countries while the world's 2 largest economies are seeing their lowest levels in years reporting in new york treated each other as r.t. . joining me now to go further and up close topic or boom bust co-host ben swan and christiane i christine let's start with you what exactly is must saying and do you

think the chinese government believes. well musk is trying to assure chinese customers saying that its data is fully protected following the crackdown saying that no u.s. or chinese company would even risk gathering sensitive or private data and then share it with their home government he went on to say quote whether it's chinese or u.s. the negative effect of a commercial company did engage in i the negatives that for the company would be extremely bad and the risk of being shut down is a very strong incentive to be confidential and that commercial espionage fears have been overblown citing the tick tock which was threatened with the u.s. and last year even though the videos were mostly just people doing popular dances so while that was a very good comparison let's just not forget how that story that you would continue to try to block tick-tock setting a deadline trying to force a sale of high tech technology in this thing that it was for the sake of national defense so while months is drawing a very good comparison and pleading for the chinese government to not make the same

mistake it would be naive to think that this time around china would treat the u.s. company any differently and give it the innocent until proven guilty treatment so this move to restrict the 4 central government personnel basically nears the u.s. restrictions on the use of communications equipment made by chinese company fears over how data is handled by tech manufacturing is growing and digitalized cars are now the ultimate ion gadget they're loaded with cameras sensors location tracking enabled building connectivity to mask data from your personal device when you're connected and while the u.s. is accusations of always find their currently on founded thing that there's no hard evidence of surface to prove that these allegations these concerns over cuz they're fighting real the tesla sentry mode is constantly reporting driving or not if it didn't it would be able to save the 10 minutes prior to a trigger but so that does leave room for speculation of where all this data is going and who is controlling it so no the chinese government is unlikely to believe this and essentially the bring tech war has on my cop caught in the crossfire yeah

that's a really good point there and we know that the us certainly claims to. care about national security whenever it comes to china and wall way or tick tock so it's interesting to see that argument being thrown back at them now then i want to focus in on these comments from musk where he's saying that if tesla's cars were used for spying in china the company would be shut down altogether what is he trying to say there. i think is make a pretty good point which is that he's a businessman 1st the boat more than anything else and that's the point i think he's trying to make here right is that the folks in china need to recognize that he does not have this particular allegiance to the u.s. government and i think honestly if we're going to be fair about it he really has not he's not a stooge for the u.s. government that we know of and he certainly seems to have a lot of conflicts with the f.c.c. he said complex with the i.r.s. he said conflicts over coronavirus lock bells he said conflicts with the state of california he's had a lot of different conflicts with different u.s.

agencies so i think what he's trying to say to them is look i recognize that if i were a part of anything that the u.s. government is trying to do it would immediately mean the end of access to the chinese market and i'm putting business before any of that so the case he's trying to make is don't see me the way you might see other maybe tech billionaires who are very closely aligned with the u.s. government and also closely aligned with the defense department of the pentagon that's not who i am so i think that's the argument he's trying to make but as christi said ultimately i think he may end up being the american version of weiwei right in that he becomes kind of the catalyst for how a centralized government says we're going to punish this country by taking it out on the private company it's what the u.s. did to wall weigh in and maybe what china does the test and that's a really good point kiran and you're saying that they're focusing in on him specifically when he really has had a career of trying to set himself apart trying to be sort of on the fringes of

what's popular especially compared to a lot of the other tech giants here now kristie all of this raises questions about the data collected by electrochemical and what it could mean for monitoring driving and even assisting drivers who might suffer from chronic decline what do we know so far. so so far there's this new study looking at the driving habits of people with alzheimer's and right now the studies have shown that the driving habits decrease and deteriorate over time so now they want to know if the inverse is also true can driving data be used to help identify people with alzheimer's and to help figure out who i have underlying symptoms or even precent dramatic people and so the data collected by the smart recalls is going to be invaluable as driving is a very integral part of american society so for the next 3 decades it's going to be a massive growth of the aging populations and driving thomas vehicles will continue to be the primary method of transportation so that ultimate goal here is to understand and and identify who is at risk in that wheel so that doctors can then

intervene to help preserve their skills or safely adapt and set new limitations such as restricting these drivers to a cinderella license so that they cannot drive in the evenings. and it all comes back to that question of where does that data go who has access to it and then of course how do doctors play a role in all of that now ben aready we know that our vehicles know much more about us than we might think including this new black box technology to better understand what happened for instance when a vehicle crash takes place is that correct yeah yeah absolutely in fact maybe one of the more high profile cases of this is the recent crash for tiger woods obviously had a very serious vehicle crash it was a genesis that he was driving with his s.u.v. crashed apparently this black box that's inside of it the technology's been around for a couple of years will help to determine exactly what happened and so there are questions that surround that do these black boxes reveal whose fault it is does it apply some

kind of motivation how fast were you going where you distracted at the time where you want your phone at the time there's any number of different things so i think what we have to look at in terms of that technology we're christie said is so true that these vehicles electric vehicles have become really kind of the ultimate surveillance device because you're really not driving a car anymore you're driving a huge computer that's gathering data it's gathering metrics about you it's gathering you know the speed of which you're traveling in the kind of conditions that you're in how you're handling the vehicle all of those things are being computed and collected at the same time in real time and so these black boxes yes they can provide information but they also don't always give you the whole story so what we find is that more and more it becomes an issue of just being monitored and every decision we make being scrutinized by some form of technology and i think for some people that's where it becomes not just dystopian but it also becomes just a little bit frustrating that every part of our society and every moment we're

being monitored and watched and had a log yeah most definitely and of course when it comes to this technology we can say that it's useful of but it all comes down to who it's being used by and what powers it comes with great insight as always been fond. christiane i thank you both for your time. thank you. austria's top oil and gas company oh andy is the latest to pledges support for the north stream to pipeline even as the u.s. continues to threaten sanctioning against its allies in a recent interview the company's c.e.o. said quote this project is of great importance for the security of supply of the european gas market it is therefore europe's responsibility to the side we have a deep trans-atlantic friendship with the u.s. for decades and friends shouldn't threaten each other oh and the is one of several companies working with russia on the landmark pipeline as secretary of state tony blinken continues to warn that any entity involved in the north stream too could be

hit with u.s. sanctions and should immediately abandon the project which is now more than 90 percent complete. speaking of cross country trade the 1st releve road to link the us canada and mexico could soon become a reality following a 25000000000 dollar merger between canadian pacific railway and kansas city souther in order to fund the transaction canadian pacific has pledged to issue $44500000.00 new shares and to raise $8600000000.00 in debt it would also assume $3800000000.00 of kansas city's debt the company expects to have about $20200000000.00 in outstanding debt when the deal closes and now it's up to u.s. regulators to give their stamp of approval. time now for a quick break but when we come back the kobe had 19 vaccine for masters amica has had its share of controversy in europe over the last week but what did the latest study from the u.s.

find out we'll tell you next and as we go to break here are the numbers up a close. look forward to talking to you all. that technology should work for people. i robot must obey the orders given by human beings except where such orders would conflict with the 1st law show your identification we should be very careful about artificial intelligence to the point obesity is too great. to take on various chops and with artificial intelligence will summon the demon.

a robot must protect its own existence as excuse for. humanity has never seen such strange natural phenomena before coming to this appearing in the peninsula. one after another. looking over the old to pick up again you put your feet to get you you put you know whom does love with those who are dead he warns me of. this one appeared in 2020. how open and where will new creatures appeal as i described how dangerous own the. the humans normally and this is the one they sent in 2021 russian scientists want clues to work you know what's going on. they build in full scale 3 d.

most of the black hole. in. the world is driven by dreamers shaped by the one percent of those. dear to us. but latest vaccine study conducted here in the us delivered good news to astra

zeneca after a week of controversy this saw the drug temporarily suspended in countries across europe according to a safety and efficacy analysis asters that it goes covert 19 vaccine is 79 percent effective in preventing symptomatic illness and 100 percent effective against severe disease and hospitalization the study involved more than $32000.00 participants across $88.00 trial centers this study aims to give more credibility to a vaccine which has been criticized for the ways in which data was reported in earlier trials as well 7 as questions over whether it was affective in older adults the drug was also suspended by governments across europe last week over reports of blood clots and patients many have now reversed their bans after health officials said there was no direct link astra zeneca is expected to apply for emergency authorization from the f.d.a. next month which was set the vaccine up for delivery in the u.s. . the approval by the f.d.a.

we will instantly release and the live its 3060000000 doses in that phase and then in the same lines another 20000000 so in the 1st months of e.u. a we will live to 50000000 and also that's on every issue we will deliver 15 to 20000000 doses. for the americans based on the contracts we have with us governments. on the fear of inflation remained high around the world with other countries watching rising bond yields in the u.s. here in washington the federal reserve appears to be focused on achieving full employment leaving many to worry that inflation could be here to stay alway's for a few years as one report noted quote it is taken 4 decades but the federal reserve has finally shaken off its fear of inflation the markets are only just waking up to the implications of that shift so you know that that's a doctor or n.z. c.e.o.

of openness i think knock tabio the new message from the fed seems to be that it's ok if there is some inflation and if we do see a rise in prices as long as americans are getting back to work and the economy is moving again is this the right focus to have right now. well i think the fed has had a pro inflation stance for quite some time a few decades at this stage they've always said that inflation targets around 2 percent and that's with a danger of some how they think that that is the optimum level and that you are optimized employment and optimize output by doing that now to understand that you have to read milton friedman in one of his most boring books monetary history united states i don't recommend it it's about as interesting as a telephone book and it doesn't read you should much like and why he believes what he believes rather than he empirically saw it but anyway so that that is been that the cornerstone of fed thinking for quite some time for a few decades certainly since the mid 1960 s. and i think of central bankers around the world is an inflation target and 6 now

it's possible the fed is basically saying well we're going to countenance slightly higher inflation than 2 percent and we're about $1.00 right now we're still below their target maybe tolerate going a bit higher before they turn the taps off i think that's probably what they're saying they really want to see this economy go return to normal and stock growing against that's really what they're most concerned about i know we have a lot of why is the words from researchers and economists over the decades but this is why we have people like you on our show to make it interesting for us and bring us all up to speed now it's interesting because we have watched the market continue to ride high over the last year and much about it seems to be tied to the speeches we keep hearing from powell assuring everyone that the fed has things under control it's actually if there are a chance of just stock markets starting to reflect the realities of the american economy any time soon. well i think it's not so much powell speeches it's been more it's actions so if you remember what happened to sort of

early part of the covert crisis markets were sort of freefall and power was out there saying we'll do whatever it takes and we'll put in 10000000000 and we'll buy 10000000000 in corporate bonds more by 50000000000 of commercial paper or more by government bonds and none of these things had an impact on the market so you have to carry on coming up more and more programs and throwing more more money at it and finally said trillions and that seemed to work so then the market brought in so much for speaking but actually the real programs and policies it put in place and and sort of this notion of liquidity that he leeched and that's really what's kept markets going and i think at this stage we see certain sectors of the market wildly overvalued if you tech stocks and things that sort as a direct result of that sort of seen bubbles form all over the place and that's what happens when you have very easy monetary policy yeah that's a really good point and we really have seen the market reacting in a number of areas over the last year now speaking of the federal reserve they also confirmed that they plan to end interactive capital requirements for big banks

which has put in place which was put in place in response to the pandemic now we saw a mixed response in asian markets on monday but how is the rest of the world viewing the u.s. and its policies right now. well i think the easing restrictions on banks so they could lend more didn't really have the impact that the fed was hoping so if you look at consumer lending it came down during that the pandemic commercial lending shot up quite shocked at the beginning as corporations drew down their emergency standby lines of credit because it's all my god what's happening we need to have a cash cushion but soon as things are stabilized again you see all those things come down so that despite the fact that banks have seen a wall of deposits come in so a lot of consumers have taken the money they've saved it we've seen saving rates go really high and they just deposit their money in the bank and so deposits went through the roof and so banks really have the ability to lend out a lot more may have they have the reserves that do that they simply haven't been able to find the people to lend to the credit worthy borrowers to lend to will the

people want to borrow the money so that's been the constraining factor not so much this little rule of the fed is tweeting with so i don't think will make much difference overall yeah and it is interesting to see how consumers have handled their money especially over the last year we know that the travel industry has been hit particularly hard by a lockdown measures and at the same time you have consumers that are not only facing lockdown the not wanting to go on vacation but also concerned about whether or not they're going to have enough money to put food on the table all together now when it comes to that travel industry we know that cruise lines specifically employed nearly half a 1000000 workers they're now saying that they're fearing another last summer i mean even in cases where the ships are up and running they are still facing different restrictions from different countries of course so why does long term impact for both the current line industry and the overall sort of travel leisure industry as a whole. i guess i always wondered what kind of people go on cruise lines and sort

of turns out to tense a bit a slightly older generation typically sort of retirees who go there and i think those kind of people going to be more concerned about that than most other so retiree's in the sixty's and seventy's who are typically but mainstay customers for those those companies are pretty less likely to jump back in the in the wagon and say ok we're going to start traveling again now so i think the cruise line industry is going to have a bit of a difficult future even if things return to normal but there's no real sign that they are i mean there's indications in the u.s. that have but look what's happening in most of europe we've got lock downs everywhere. cases a surgeon going with variance all over the place it doesn't look like this is ending any time soon so i don't think the cruise lines will recover even if we see things go back to normal and i know as well 1 there's been a lot of talk about consumers investing their money in different stocks wanting to get in the stock market whether that stimulus money or otherwise how do you think consumer spending that money if they're not spending it on we sure are they saving

it and just making sure that they can survive. i think that's what we've seen we've seen the savings rate go through the roof so people setting that aside which is absolutely the right thing to do if you're in such an uncertain environment we don't know what's going to happen really you know you shouldn't be out buying things or remodel your kitchen and things that i mean should be investing in real estate in the stock market or just saving it so that seems to be the absolutely rational thing to do that we've seen happen and as long as it's on so she continues we should see that carry on so it's been actually quite impressive you know americans were known around the world for being really miserable and saving suddenly turns out they can actually save 20 percent of our income it's been an extraordinary. you know 1 it only took a global pandemic to figure that out one point against it or here are tabio marandi thank you so much for your time thank you. and i see for the 1st ever tweet has sold this tweet by c.e.o. jack dorsey saying just setting up my twitter that's it went for $2900000.00 worth

of a theory of before the auction ended on sunday dorsey said he would convert the proceeds to bitcoin and donate the amount to the charity give directly the winning bid was made on the 1st day of the auction but no other better decided to top the offer over the course of 2 weeks as part of the non fungible token craze collectibles such as crypto punks and artwork by artist people have gone for millions more i know a lot of you are ready to get on in on that craze but some of those bits have been awfully high well that's all for now you can catch a boom bust on demand by downloading the portable t.v. out for your apple or android device wealthy here next time and as always don't forget the question more.

is losing corning to micro strategy c.e.o. michael saylor 15 percent of its purchasing power per year why would you hold on to something like that when you have a coin that's appreciating on average 200 percent a year for 10 years it's a pretty simple trade once you see the raw numbers. going to trust them with. bringing.

not. i'm not. a us. not yet you nationally for sides. knew all. the new. stream of all of which i don't know much. new top of that if you. are you able review. of the story and for. me a pretty of the night. and let him know what you.

23rd of march in the headlines this morning germany imposes yet another round of harsh descriptions as a huge scandal over political profiteering from. the health of this sort of self in the firing. protesters hit the streets across europe these painful measures people tell us why. we're fed up we no longer know wish for just a little lost it's all a blur the thing is you come on the streets life so much we are here in castle today because all the measures that are being taken here in germany no longer serve the people.