this is a boom bust the one business show you can't afford to miss in washington coming up china's census numbers are in and it's because great picture for the world's 2nd largest economy straight ahead we break down the new data and how it could set the course for the most populous nation plus the u.s. vaccine drive is heating up even more is teenagers could soon be eligible to receive the pfizer vaccine we dive into the developments and bring you up to speed on the global fight and later the ransomware attack against one of the united

states is the largest fuel type winds well it's caused consumers to flock to the pump will take a look at how it's affecting oil prices were packed show today so let's dive right in. and we leave the program with china for all the data that shows just how much growth is taking place in the country a new number shows that china's growth is shrinking in one category population that's right in the future china will no longer be the world's most populous nation new data from the nation census shows that over the past 10 years the population of china has gone from about 1400000000 people to only 1410000000 an official increase of only 72000000 people since the last census in 2010. the census results are also demonstrated that china is the structural contradictions such as the decline in population in the population old women of childbearing age creasing we saw your problem as

a decrease in total fertility rate either the decline is really born population etc . the basic national conditions that china has a large population of these has not changed. this thing in the long run there will still be islands between and natural resources in the meantime which is the population growth. we should take to promote a long term balance and i feel ation development. joining us now to discuss our boom bust co-host ben swan and john koch is the dean of the miami herbert business school but you both for being here ben i want to start with you break down for us these census numbers and what exactly they show. yeah it's pretty incredible really when you look at this 1400000000 people in terms of china's population taking as you mentioned to one point you know for one of the 75000000 more people in the

last decade is pretty incredible in terms of the slow growth but it's not just the size of the population it's the composition of the population that really matters here what one thing the census found is that the population of china is rapidly aging in comparison to the number of people who are coming up in terms of the birth rate so for instance by the year 2050 a couple of numbers here for you one in 3 chinese by the year 2050 will be over the age of 60 if that same group of people form their own country it would be about the size of the entire population of the united states so if we're talking about an enormous number of people over the age of 60 the other thing that's interesting here is that right now you know we're talking about what it's. about 8 workers for every retiree by the year 2050 it will be 2 workers for every retiree in china so this creates a whole other set of issues you know as you rightly said in the beginning here china has so many numbers that they can look at in terms of growth in the speed of

growth in the development of the country but this is one number that really kind of flips that whole scenario on its head and it begs a lot of questions including how as a nation are you able to support that retired workforce how are you able to support a growing economy how are you able to support manufacturing when the vast majority of your people are aging at such a rapid rate and that's all great points there but indeed quote i want to talk about what impact this is going to have on the chinese economy it specifically as a manufacturing giant and how much of this aging workforce can actually be replaced by automation such as robots what do you make of that. suddenly china's economic prowess over the last 20 years has been fueled by a very high quality but economically compensated labor force that is paying abundant supply those pay in

a. demographic dividend as we call it in the last 20 years that's enabled us enormous manufacturing success now going forward there's definitely going to be pressure on wages of these workers as the supply of spend indicates becomes to manage them that's going to motivate capital being substituted for labor as it always does and that means robotics and automation appearing in many plants that currently are relying on. on a fleet of individual workers but this i think it's important to underscore is something that china has been. planning for and anticipating and the shift in emphasis from the manufacturing base towards a more service driven economy towards greater investment in r. and d.

and technology that that's evidence of the anticipation of this particular issue the one thing i don't think china counted on was the level of fall in the population rate increase because they obviously didn't expect families to stop at one child even once allowed to have 2 or in some cases 3 children they didn't count on that level of pullback on the part of the population and do what i want to stick with you for this next one here as well because china's factory gate prices rose at the fastest rate in 3 and a half years for april what exactly does this to mean and how is this going to impact the global inflation as we're about to see big numbers here in the united states this week. right so the china inflation rate for this year is anticipated to be around about 3 percent that salvi asli significantly higher than

what's expected in the u.s. i'm not too concerned because i think what's happening here is throughout the world there of sport shortages in the supply chains for many commodities as a result of the disruptions of the kovac crisis and there's also strong evan evidence as we know from the labor day holiday a buying spree in china of pent up demand which we expect to see and other western economies as well so what this means is that there's a level of short term pressure on international commodity prices and that is being translated into poss through by chinese manufacturers both in the domestic market and in the export market the inflation has not shown up terribly much yet in the chinese service sector but it certainly evident in the factory gate

prices as you mentioned and ben i want to add on one last story here before we go as we stick with the theme of of the chinese economy china indefinitely suspended key economic dialogue with australia last week the latest in a growing diplomatic rift between the 2 nations what's happening there quickly. yes very quickly we're not exactly sure what the rift is over apparently it has to do with the belgian road initiative that. in australia of that state of victoria took some of those funds from china and now apparently doesn't like the deal is what it appears to be the way the chinese are responding to what they're saying that the australians essentially aren't keeping up there in the deal and so they're cutting off these trade talks with them the australians for their part say we're not exactly sure why you're angry i think what it really comes down to when and obviously getting the specifics of it are important but i think what it comes down to is going to be as something we see in other places as well the belgian road initiative that china has put forward i think is extremely valuable for the chinese

in terms of kind of spreading influence globally the problem is that it requires a lot of the countries that are taking a lot of money and a lot of help in terms of building the infrastructure and there's a lot that's on the line in terms of using that infrastructure like ports and those kinds of of items as collateral for the boat and road initiative and so i think in this case perhaps it's an issue where maybe i'll show you gave up more than they should have and it's causing some very serious tensions in other areas beyond just about not an issue. co-host. john quotes of the university of miami thank you both for your insight today thank you. the u.s. food and drug administration has given the pfizer buy antec covert 1000 vaccine emergency use the authorization for children between the ages of 12 and 15 of the 2

dose vaccine has of course been approved for the those over the age of 16 since december of last year and has been key in the nation's vaccination drive it now faces approval by the centers for disease control and prevention the vaccine advisory committee which is scheduled to meet wednesday if approved the drug could be rolled out to the age group before the end of the week last month pfizer's senior vice president of vaccine clinical research and development dr william gruber he spoke about the company's data regarding the use of the back seat in the younger demographic. obviously we are very eager for distraction to make it into the arms of a 12 year old children as soon as possible for their benefit and. heard protection we know the immune response that we got in older adults we know the vaccine implications seem immune response of 12 to 15 year olds then we should expect the same level of effort as we did even better than we actually had higher you know by

the responses in the 12 year old so that gives us real confidence. so with this in mind let's take another look at the fight against cold with r t correspondent side tablature side sobran right now more than 1300000000 vaccines have been administered worldwide so globally 17 doses for every 100 people now here the countries are the group of countries doing the best right now in terms of vaccinations and the u.s. britain parts of western europe's were back scenes have been more widely available the virus is dropping and people are flocking back to restaurants bars and really getting back to normal now in the u.s. about 115000000 people have been fully vaccinated so that's over 35 percent of the populations and vaccines could soon be available to even more americans now that the f.d.a. has authorized the use of the pfizer shot for 12 to 15 year olds and now the progress made in the u.k. so far is also means that they also continue to be among those with the highest

vaccination rates globally and in the u.s. you e.u. scuse me where a little over 11 percent are now fully vaccinated and the reason that number is lower is because a member of many european countries banned the astra zeneca vaccine in march for short due to concerns over safety which relate the vaccination drive in many countries but what's interesting is that the european commission hopes that about 70 percent of the $27.00 nation block it dulled popular. and we vaccinated by the end of summer so that's a great goal but i should say there is also a huge gap between vaccination programs in different countries with some yet to even reported a single dose of the vaccine and globally we are still in a very dangerous situation. with these cases trending down in the united states and more people getting vaccinated we are cautiously optimistic however globally the

pandemic is more severe than ever indeed a surge of cases is tragic and a reminder that the virus can rapidly outstrip our efforts to contain it if we are not careful we will not end this pandemic without working hand in hand with countries around the globe to fight covert 19 now i want to stay on in the air for a little bit they're showing no signs of letting up their health ministry just reported more than 3 186000 new cases and nearly 3900 that's on tuesday again they're saying that real number could be a lot more and now in case is are in areas where fewer resources were sickness and death march harder to track now one measure medical workers say is that poor people are disposing of bodies in rivers because of the cost or cremation has gotten so high and i want to show you some footage but 1st i want to warn the viewers as some

of this is very graphic and so we've blurred some of the images here but dozens of dead bodies about $71.00 in total have been floating down the gone jeans river in eastern india and even more bodies were found floating in the river on tuesday washing up in the ghazi poor district in a neighboring. state now it has not yet been confirmed by indian authorities whether they are cold related by local residents believe that the dead are being burned in the water due to a shortage of wood for cremation as is traditional in a hindu religion now india surge is also having a very dangerous effect in neighboring bangladesh and that's also one of the poorest and densely populated countries in the world and why bangladesh remains on in the nationwide locked out if you take a look you see thousands are still gathering at markets for their. a 5th which is their largest annual religious festival and although deaths and cases are not

searching at the moment of bad luck there if they did they'd just to take to cases of that very aggressive area and that's going around and so we'll see in the coming weeks if their numbers go up brant r.t. correspondent sites have to thank you so much for keeping us up to date. and time now for a quick break but when we come back the ransomware attack against one of the united states largest fuel pipeline for us consumers the block at the pump will take a look at how this is affecting oil prices as we go to break for the numbers at the close. i. our culture is awash in lives dominated by streams of never ending electronic

hallucinations that merge fiction until they are indistinguishable we have become the most deluded society on politics as a species of endless and needless to little computer politicians have morphed into celebrity are 2 ruling parties are in reality one party for president and those who attempt to puncture this vast breathless universe of fake news designed to push through the cruelty and exploitation of the neo liberal court for so far to the margins of society including by a public broadcasting system that has sold its soul for corporate money that we might as well be mice squeaking against an avalanche plus we must. take a live news anywhere you can cause an elegant think you're

a good online video library with a built in search engine it will sit right in your pocket it's free interactive did our taxes dollars will talk to $8000.00 the president's text work that is uploaded every hour so what on earth are you waiting for. the. how to read out read turn on the t.v. on the back the world was happening around me i see shows on the screen and last every t.v. because of the news near its steady state. to maybe cool little to no prisoners with the farm after brick by brick globalism they could have plenty of that in the store but i found that there were no question.

and welcome back following a rant somewhere attack which effectively shut down one of the biggest fuel pipelines in the united states colonial pipeline c.e.o. joseph blow warned eastern states of a possible fuel shortage now the comments came during a private meeting on monday and were reported by bloomberg citing a source who was involved in the discussions now meanwhile gasoline demand across the united states was up roughly 20 percent from the week prior according to price of fuel tracker gas buddy demand across virginia north and south carolina florida and georgia surged 40 percent according to the data a small percentage of gas stations throughout the southeastern united states which is most rely on this pipeline have also been reportedly running out of fuel as of tuesday morning due to this increased demand so as we talk about increased in. and amid this ransomware attack what is this doing to all prices well for more on this

and what's moving markets today let's bring in boom bust co-hosts christiane and michelle schneider she's a partner and director of trading research and education for market gauge dot com christy i want to start with that story colonial pipeline is now saying that it hopes to restore service by the end of this week but as we just mentioned this is threatening to disrupt gasoline supply for millions what does this mean for oil and gas prices as we head into the summer driving months. well right now field prices have hit a 6 year high tuesday as a growing number of gas stations in the southeast are reporting shortages so fuel demand in these states has spiked over 40 percent as panic buying further exacerbated the shortages and i have north carolina declaring a state of emergency and suspending motor vehicle fuel transport regulations in order to ease the pain and georgia governor also took similar steps suspending gas sales taxes until saturday so this shutdown will have implications on both gas and supply and prices for the impacts so far has been very regional the states may see

price increases from about $3.00 to $0.07 this week the national average for a gallon of gasoline is still around $2.98 for now so colonial pipeline has been a very critical part of the u.s. oil infrastructure spending more than 5500 miles carrying roughly half of the east coast feel supply but more importantly and so this for america could mean that the era of u.s. dominance in cyber war is over and this is coming on the heels of the solar winds attack last year the biden and ministration will face increasing pressures to find ways to cooperate and identify all of these cyber abilities and say ahead of geo political rivals so this colonial pipeline attack represented a whole new level of ransomware and expose more abilities and u.s. defenses for industrial sector the scale and aggressiveness of the solar winds attack and now this new hit on critical oil and gas infrastructure shows just how warner will these sectors are because infrastructure is such an easy and lucrative

target and the payouts are huge given no widespread effects on millions of americans and in the past few decades the u.s. was always on top in terms of cyber but it's getting to be not the case anymore even a handful that are just as innovative as n.s.a. in the cyber capabilities so by administration is going to have to deal with information sharing protocols between the private sector and capitol hill and this is something they're actually mentioned on monday was prepare now. obviously they should have been prepared as you mentioned there have been previous attacks we've talked about it and we talked about this on the show on monday about how municipalities a face these same type of cyber attacks so this is something we should have been prepared for but michelle i want to move on to to another topic because it was a crazy day on wall street as big tech continues to be under pressure although the nasdaq was able to pull back to about even close but volatility is way up what are you seeing in markets right now michel well let's just stick to nasdaq for

a 2nd because it just 2 weeks ago made a new all time high and it sold off about 8 percent so in terms of the normal correction 8 to 10 percent is what you would consider normal but really what we have to find out from here is this bounce that we saw went right into resistance which means it rallied right back up to a 50 day moving averages when it broke yesterday so at this point now we are definitely in a caution phase or what's so interesting about the market is nasa came back on the heels of great reports from a lot of the pandemic darlings that had fallen out of favor and of the crash to new recent multi month lows d.d.d. 3 d. printing being one parent gear being another you have sas re data dog all of these stocks had more than double digit gains today so it will be interesting to see now what happens from here inflation is on the lips of everyone interest rates are on

watch the dollar fall is on watch so if we get some level of stabilization it's not surprising to see the big tech and the growth stocks start to need in terms of correction over on if they fell from here i would be very cautious to stick with tech some of these tech giants are actually calling for more funding for us chip production now by this is a little background on why we are seeing this chip shortage in the 1st place and what can be done. well obviously you have the club will kovan 19 because this can then make they stood strong to the entire senate shipments as global demand for all things like new mobile devices p e p c data center upgrades search in response to remote work on my learning streaming gaming and other stay at home trends so consumers a lot more cars than the auto industry expected last spring which further strain supplies so basically then you have every single company that use its chips in production now panic buying or to shore up stock and that shortage has then been squeezing capacity in driving up cost of even the cheapest components of nearly all

microchips increasing the prices of all the final products now most chip makers recover quickly but the entire chip sector is still couldn't satisfy the market appetite for these new chips so you have p.s. and see fads already running at over 100 percent utilization over the past 12 months they recently announced that they would spend over 100000000000 of the next 3 years in order to expand its operations and then of course you have the ongoing tech war that trump started with china most of the semiconductor market still relies on overseas companies like a s. and l. taiwan semi's south korea sansa because at the root of all this the squeeze is caused by the under investment in the aged chip manufacturing plants that are mostly on by asian friends which have struggled to ramp up production as demand for all these 5 g. phones and laptops picked up faster than expected the majority of the chip productions occur in asia where major contract manufacturers handle production for hundreds of different chip companies so it's not a problem that can be fixed overnight it's going to take

a lot of investment dollars and there's also a hefty lead time the production of wafers cost tens of billions of dollars and expanding their capacity can take up to a year. i want to know the last point i really have about 45 seconds for you so i apologize but americans they're paying down their credit card debt at levels not seen in years and this sounds like great news but banks are really happy about this what's going on there. well everybody knows when they haven't paid within 30 days that their interest rates as much as insurance have gone down in the normal world in the credit card world they're still outrageous and that's how banks make their money so naturally they're not happy about that however the banking sector in terms of sectors of the market have done really really well on the heels of some good earnings and optimism of course about loan increases and cetera so basically what i would say is even though there's a decline in terms of new credit cards being issued there's been a rise in terms of offers from credit card companies for you to get and sign up for

a new one so will be interesting to see what happens once we get back to some level of normalcy michel snyder of market gauge dot com and bill bustos christie i thank you both thank you jacki. and then n.f.t. craze isn't over and this time dictionary maker merriam webster is getting in on the action the company announced they are going to sell an n.f.t. for their definition of an f t merriam webster defines n f t as an unfundable token a unique digital identifier that cannot be copied substituted or subdivided that is recorded in a block chain and that is used to certify often to city and ownership as a specific digital asset and specific rights relating to it i hope that clears that up for you crypto bettors can join the auction on open sea until may 14th proceeds will go towards the nonprofit teach for all and at the time of air the last bid was just over $4000.00 worth of a theory and i think that was one of the area but it remains to be seen what price

is that f.e.m.a. fashion that's it for this time you can't boom bust on demand on portable t.v. available on smartphones and tablets through google play in the apple app store by search of portable t.v. you can also be downloaded on your model samsung smart t.v.'s as well as group of devices or simply check out a portable dot t.v. we'll see you next time. there's so much going on in the world don't you think when's the last time you had a real bird's eye view. of the new more than just hours of. getting 30 minutes i'll take you on the low. i like it when the hosts ask a question to the guests and then actually listens to the guests answer and then react to that answer a phone dennis miller i've got

a new show. 'd 'd i think the average viewer just after watching a couple of segments understands that we're telling stories there are critics can't tell you know why because they're advertisers and won't let them. in order to create change you have to be honest you have to tell the truth arts he's able to do that every story is built on going after the back story to what's really happening out there to the american public what's happening when a corporation makes a pharmaceutical chills people when a company in the environmental business ends up polluting a river that causes chancer and other illnesses they put all the health risk all the dangers out to the american public those are stories that we tell every we can

you know what they're working. welcome to on contact they we're going to discuss why joe biden is not f.d.r. with a historian and author paul street we were a look back at good thirty's in the new deal and how they happen they happen because it was funded on the left there was descend in the streets right before the social security. and the wagner act probably the to see progress of an inch in measures far from perfect in the screen and much of the minority black population from their coverage incident should not romanticize the new deal but they were breakthrough pieces of legislation for much of the work that i've been lation all age pensions in the legalization of now we're going to reflect on martin the year

before those happened there was there was a. gigantic longshoreman strike all across the western. there was a general strike let trask use teamsters in the twin cities there was a national x. style strike there were hunger marches from coast to coast and every major city in this country had a resurgent mess. up in the in the twin cities it was often syndicalist i don't you w. and transfused in chicago and detroit it was communist probably the dominant and this is news article i did issues with the communist party but also a lot of great organized. don't be fooled by joe biden he knows his infrastructure and education bills have as much chance of becoming law as the $15.00 minimum wage or the $2000.00 stimulus checks he promised as a candidate he knows his american jobs plan.