i. this is boom bust the one business show you can't afford to miss branch of war in washington coming up hundreds of billions of dollars were wiped out of the cryptocurrency market after a major announcement from tesla c.e.o. ilan musk will break down what happened plus the colonial pipeline restarted operations after last week's ransomware attack and now the white house has his issued an executive order to prevent future cybersecurity mishaps and later equities are up after 3 days of losses as the u.s. releases more debt on inflation we'll dig into those details for the packed show today so let's dive right in. and we leave the program with

a major hit to cryptocurrency hundreds of a billions of dollars were knocked out of the entire crypto market after tesla c.e.o. elon musk announced the company would suspend vehicle purchases using bit coy now in the now infamous tweet posted wednesday must said the electric car maker is concerned about rapidly increasing use of fossil fuels for big point mining in transaction especially coal which has the worst emissions of any fuel in the tweet must added tesla will not be selling any bitcoin as the company looks for other crypto currencies that use less than one percent of big points energy per transaction these concerns about energy consumption there are nothing new in fact we've talked about it quite a bit on this show back in february cambridge university even released data showing consumption ranked above entire nations including argentina the netherlands and eat on the news the price of bitcoin fell as much as 14 per cent while tess. a stop

dropped as much as 4 and a half percent so let's dig into this with the toast then she's a crypto analyst as well kristie i kristie this is such a wild story what do you make of the situation in this movement that we saw in crypto and tesla stock following that tweet. well 1st of all this news is just overblown and frankly it really doesn't make any sense tesla just for its treasury back in january and he's the sickly said that they will not be selling any so this i believe is just more showmanship from a lot that could be construed as market manipulation in order to further his own game he's obviously not selling that point and by treating this in a widespread market panic he cause a price to drop giving himself and his friends another opportunity to light and the fact that he is not selling shows that he is still in fact on the side of decline no matter what his words say actions speak louder and right now he is still a hardliner so must he also likes me contrarian you like to go against the crowd in

a very high profile way so this tweet was just another attention seeking stunt to get chatter going even though he clearly is still holding back when clearly supporting that point and this entire nonsense about bitcoin not being green is a very poorly fabricated excuse to be negative on an asset that he's holding so he's been contrarian and anti wall street when right now this is a huge amount of investment just pouring in from wall street so got to give it to him there's no better way to get attention than to speak out against the crowd but this is like the subs are getting really really old and you know he's got what around 15000000 twitter followers and he's got in trouble with the f.c.c. for what he tweets now obviously because cryptocurrency as it is regulated it may not cause much of a problem for him to tweet legally but do you think they're just holds way too much influence when it comes to investments when it comes to cryptocurrency because of

what he's been doing over these years. well yes and no yes he does wield a lot of influence and many people would think that he should then have some sort of responsibility to not abuse his power and influence for greed or selfish motives but then again that's speaking very idealistic lee the fact of the matter is that you have your freedom of speech and therefore even to actually say whatever you want on an open platform like twitter so you can't just censor someone from saying stuff just because they wield too much power or influence but yes it could be very dangerous and it could abuse it but then where do we draw the line we really can't and that gets into a very dicey territory that i'd rather not see so yeah at the end of the day it's really the people's fault for idolizing musk and creating this culture. and giving him all its power and influence because people have got to realize that these are just weeks they're up pinions at best not gospel to be taken seriously so we can all sit here and complain that it's market manipulation or it's a pump and dump scheme but at the end of the day if you wouldn't have

a company if all the lemmings and musk and boys didn't drink the kool-aid and buy into his every whim and also guess what is a visionary and gifted us all a test like he has could you could absolutely nothing to the industry other than his loud and frequent misguided opinions he has built on things he's not involved in any project he just let his name and slid out it goes quite that's it and for that he managed to finagle that position himself as a crypto influencer like he bases basically the car dash and as a crypto world making headlines by being loud and standing rumors at this point just to clarify i was not in any way of situating that he needed to be silenced i was just making the point that he wields a lot of that influence on social media now kristie you know when he talks about the fact of how much energy is being consumed does he want must actually have any new information regarding the energy impact of big mining and for that matter i don't tesla is supposed to be environmentally friendly but what do you think is charging those vehicles is it on smiles and sunshine no it's also coal oil and how

the power is being routed to your home until we go fully renewables for power overall he's really not going to see that anyway so when you make of that. exactly there's absolutely no new information nothing has changed in the realm of the coin so it's not like he woke up when they had some we had an epiphany that oh what a huge amount of electricity i didn't know that yes i can't be green champion and support big quake to my dad so obviously this is not new news for him because back in april in fact he actually agreed with jack dorsey a square that decline actually incentivize when it will energy because miners are unique energy buyers and there are some miners face in countries like iceland and norway where most energy production is almost 100 percent renewable via hydro electricity and shields are more energy so what mining you actually want to maximize the number of ashes or kilowatt and currently the most efficient way is the use of solar hydroelectric because those are the cheapest ways to produce

electricity so again no new information here must agree with dorsey on this so why is he suddenly doing this one a day without a better explanation and if he really did feel this way why didn't he elaborate on what he meant because his tweet was so generic so clearly there are other factors and motives at play here and you bought up a very good point because if we're all all on the let's be more green thing by musk unless he switches rockets manufacturing and battery manufacturing where you're actually mining huge huge amount of lithium to more sustainable energy then he's going to look like a giant hypocrite here kristie one quick question about 30 seconds for an answer he mentioned moving to cripple currency because they said he still said it was very viable that it has less than one percent of the power consumption that because it has quickly does that exist. i mean there are cryptocurrency is that uses a lot less energy than think y. and there is also eat that is actually making this big push from people who are

computer of steak so there is also a huge handfuls of cryptocurrency that are now carney to become the more green our alternative so yes they exist but at the end of the day they all consume energy and it's not up to us to say that consuming energy because for mining decline is a bad use of energy because we all consume energy and we use it to stream crash and we need to to stream other silly things so it's not up to one to say one uses energy consumption is better than the other co-hosts christie i thank you so much for the now sista thank you. and the colonial pipeline one of the largest fuel delivery pipelines in the united states resumed operations wednesday after ransomware forced it to go offline late last week meanwhile bloomberg is actually reporting the company paid nearly 5000000 dollars to the hackers behind the attack on friday citing 2 sources familiar with the transaction apparently the company had paid the ransom in crypto currency within hours of realizing their systems had been

compromised ensuring the hackers actually provided colonial with a decrypting tool to restore their network although that tool took some time to work now despite resuming operations there are still concerns about the fuel supply chain throughout the eastern portion of the united states president joe biden address the situation thursday. this morning reported that fuel is beginning to flow to majority of the markets that they service and they should be reaching full operational capacity as we speak as i speak to you right now that is good news but i want to be clear will not feel the effects at the pump immediately this is not like flick you know in lace which is play play it is 5500 miles long it had never been fully shut down its entire history. and in the wake of the cyber attack president biden actually signed an executive order on wednesday aiming to prevent another cybersecurity issue like this in the future for more on that let's

bring in our to correspondent fair and friends like now fair and what exactly is in the executive order right so again like you said coming off of the wake of what is a legend that colonial pipeline paid $5000000000.00 to this ransomware company well this executive order brand is opens communication between i.t. services providers and the government it moves the federal government forward to secure cloud services to lead the way requires a baseline security standards for any software that's sold to the government it also establishes a cybersecurity safety review board that has both public and private sector board members it also outlines a playbook of what happens and how to handle these incidents if they happen and when they happen in the future they also are talking about improving detections of these incidents to kind of get ahead of them before they actually come in and do what we just saw with colonial pipeline and we know that they've happened previously ransomware attacks by how often are they happening so that's the question here we know that they do after happen often however with that executive

order bryant what happens is these companies haven't been very transparent in the past this executive order now kind of bridges a communication line from those companies and those i. it's providers to the government so while we do know that they happened we don't know how often and till maybe after the fact now because they'll have to probably report it but we do know a report last month by the ransomware taskforce they said the amount that people are paying in rent for when somewhere hacker's has increased 311 percent in just 2020 alone with payouts of more than 350000000 and cryptocurrency the average ransom paid by some of these organizations in 2020 was more than 300 k. but again that executive order raises questions about how much there really has been and do we know if the bided administration actually knew that colonial was going to pay this ransom so that's another thing so we had a press conference earlier this afternoon from president by and he made it very

clear multiple times he is not going to dictate what private companies can or cannot do made because of his republican counterparts and critics were saying do something but biden did say last night they were working closely with them but then the south or noon he said this now i want you to look at it watch what he says how he says it and how he walks away take a look. thank you very much. more i'm going right. back to the company. coming. thank you. so there you go maybe saying the quiet part out loud we're not sure but it's looking more and more like they might have done archie correspond if their friends i thank you so much for this. and the world's 1st mask over 9000 vaccination campaign for children kicked off in the u.s. on thursday after the federal government recommended making the fires or vaccine

available to those aged 12 to 15 president joe biden who hailed the back scene as safe affected easy fast and free so that as many as 15000 pharmacies did ready to start giving shots on thursday meanwhile at the same time many of the countries being hit hardest by the virus have not been able to secure vaccines to inoculate even health workers or those most at risk of serious illness or death for more on this let's go to our to correspondent side temperature so brian this is a big change because there are about 1x7ww children in the u.s. right now between the ages of 12 and 15 and that represents 5 percent of the u.s. population now this change would mean that people anyone over the age of 12 they're not eligible to receive a vaccine and it also opens up the possibility that many children will return to a normal life and do things that kids do a tent camps this summer and specially returning to in person school this fall

which is huge for kids and parents because right now roughly one 3rd of kids between the ages of 13 and 14 there is still in remote learning and and although i have to say children young children are thought to spread the virus less often than adults do their ability to transmit the virus does increase with age and teenagers can often transmit the virus just like adults can and right now with 35 percent of the u.s. population being fully vaccinated at a speed of about $2160000.00 shots per day which means the u.s. can be fully vaccinated but by the end of october this year and that would include children over the age of 12 and of course with 35 percent fully vaccinated right now it explains why new cases. how fall into some of their lowest level since it's amber reed right now about $38000.00 new cases each day and with cases that of

course the hospitalizations go down and so do so to death. one of the most contentious things especially here in the united states has been the mask mandates throughout the country in the c.d.c. actually released new guidance on that thursday tell us about that and they sure did so in a move to send the country back to toward prepared to make life right normal life the c.d.c. has just easy endora now this is the big change in durham asked wearing guidelines for fully vaccinated people take a listen. today c.d.c. is updating our guidance for fully vaccinated. anyone who is something that can participate in indoor and outdoor activities large for small without wearing a mouse or physical this. if you are fully gaius and you can start doing things that you had stopped doing because of the hand we have all along for this moment when we can get that sense of normalcy. but here's

a caveat masks are still required in certain indoor settings with specific health guidelines like hospitals trans traveling on any public transportation at the airport or an aircraft and it also does raise the question of whether people are going to be telling the truth about being vaccinated because of course is no requirement to prove that you are in specially as more aggressive variants are merging in places like india and south africa because as it stands right now at the moment scientists can say for certain 400 percent whether the current vaccines will protect you from these more deadly variants bryant correspondent cited savage thank you so much for keeping us up to date. and time now for a quick break but when we come back equities are up after 3 days of losses in the u.s. the u.s. releases more data on inflation we'll dig into the latest and as we go to break here the numbers of people.

oh yeah. i'd like one the whole question of them actually listens to the answer and then react to that that's it folks dennis miller got a new show. it's called the future we don't need something. everyone in the world should experience

for me and you'll get it on the old the old. the old according to gesture. welcome our moral come along true there are. to. take a live music anywhere you go plus an elegant link traded online a video library with a built in search engine it will sit right in your pond it's free interactive digital arts in texas stars will talk to the 1000 the dissidents to explore videos uploaded every hour so what are you waiting for class on the 4th if you. are 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 news feed more than just hours of bickering and

getting 30 minutes i'll take you past the love. you guys and i made a professional is powerpoint to show you how artsy america fits into the greater media landscape our team is not all laughter all right we are a solid alternative to the bullshit we don't see you liberal or conservative and as you can see that is margret we don't skew the facts either the talking head left these talking head righties oh there you go above it all so look out world r.t. america is in the spotlight now every leonhard of noise is going to classify as when it actually took me way more time and i care to admit. and welcome back the boeing $737.00 max is set to return to the skies once again one month after an electrical issue forced the company to ground around $100.00 planes the us federal regulators confirmed their approval on wednesday saying they

found a pretty straightforward fix and they're confident in the plane safety moving forward the f.a.a. also noted that the latest issue was unrelated to the major problems with the flight control system that caused 2 deadly crashes which led to the plane's grounding in 2019 with the latest announcement southwest united and american airlines are expected to bring around 60 of the planes back to service and alaska air confirmed it would be adding a dozen more planes to its fleet as travel continues to pick back up here in the united states. as the u.s. labor department released new data thursday regarding the state of inflation in the country the producer price index rose a record 6.2 percent year over year for the month of april a jump of point 6 percent from march p.p.i. measures the prices paid to producers as opposed to the prices consumers paid as we talked about talked about on wednesday the number was up 4.2 percent compared to the year prior for consumers prices for steel mill products jumped more than 18 percent while many food products as well as plastics and materials saw

a significant increase so let's go out and take a look at what this means for the economy and what the market's thursday with october is the c.e.o. of optimist l.l.c. and joseph he is a founder and c.e.o. of strategy marketplace thank you both for being here today octavio i want to start with you here what's the takeaway from this latest data because i know and we've talked about this before we've heard so much of in recent weeks about the fed keeping an eye on inflation jay powell says it's all going to be transitory is there anything you're actually seeing there to show you that this is the case. not very much i have to say i mean commodity prices are up all over the place consumer prices our producer prices are up it's looking like inflation is here and i guess this is the 5th the fear of every central banker over the course of the past 1015 years even that they've been increasing the money supply and afraid of inflation that's just sort of saying let's kick the can down the road a bit and it will not happen my watch for the next guy's watch and it seems that

the next guy is jay powell he seems to be a sort of left holding the bag as as inflation takes hold i guess he's also saying that this is a transmission transfer of phenomena and i guess what he's really trying to do is influence people's expectations around of inflation he knows full well that if lots of people expect inflation to arrive it will arrive there just as expectations will lead to it so he's trying to basically talk them down and sort of persuade them with his powers of persuasion say no don't worry it's all going to be ok i don't think it's very convincing i think inflation looks like it's very real at the moment joseph noticed by this news about a play should be higher than expected markets are actually up thursday after 3 days of losses it is all about buying the dip or is there something else going on there . well brant the markets like to react to news negative or positive fairly quickly pretty much the day and we've seen this time and time again each time there was a fed meeting this past year or jobs report then once the dust settles the following day or 2 we have this reversal and that's what's really happening from what we can

tell today look we all know that inflation is creeping up faster than to support it it's almost a matter of when not just a matter of if and if the fed can actually essential ation and that's a key indicator here but people are always looking for the positive signals when it comes to investing with the c.d.c. talk about fully that people being able to go back out without masks and despite the fact that we see business is over the u.s. having a hiring issue the jobs teamed up claims number under 500000 which is a pandemic love so the economy should see some more growth going into the summer now we're seeing that now with travel and restaurants growing especially today we know this bull market still has some lakes a grow over the next few months of behind the dip at this time would be it would have been a good move right today but the buyer beware for that summer q 3 q 4 that would be a little more defensive at that point and octavio there's a concern that i'm seeing here because the wall street journal is actually

reporting that j.p. morgan wells fargo and other banks they point offer credit cards to people with no credit scores in this as lending rates have become so low apparently they're going to look at their checking and savings account to chairman whether they've been financially responsible. considering that you know we've heard so much about how the housing market is healthy despite prices being way up and just going like crazy but we are seeing that same type of predatory low in that we saw during the last recession is this concerning to you. no really i think the banks who hold your checking and savings account actually know an awful lot about you so it's not as if they're necessary going to lower the lending standards they might even actually increase their lending standards and say we're going to be more selective all it's really about is that these banks don't want to pay the large free use of the credit bureaus who are the firms to collect all the stager and then come with a credit score they're basically saying we know more about you than these credit bureaus do we see how much money comes in and we see what you spend pence spend on rent or you more which how much you earn our response go how many checks bounce how

frequent are of drawn they know a lot about you so they can come with a credit score probably better than these credit bureaus can and so i think they're just trying to avoid those fees and it's not like going to start to hand out credit cards willy nilly to anyone comes along they're going to be cautious with their money so i don't think there's much to worry about here i think it's more about avoiding credit charges and fees that they at the banks really don't like paying joseph i have about 30 seconds for this but bumble actually saw shares fall on thursday after reporting their 1st quarter earnings are when they're down below their i.p.o. price what happened there. you know it's interesting because. revenues are reengagement so they were reporting you know some good numbers there reporting some goods you know that information there but what's where is the guidance we're talking about that they were going to have a slowdown in growth over the next year with orders which isn't what wall street wants to hear especially with the new i.p.o. . the of optimist l.l.c. and joseph give the of strategy marketplace thank you both for your analysis today

. and finally training cards are making a big comeback for both physical and digital copy something we've talked about here on boom bust quite a bit but target says selling them in the store less is not really worth the trouble anymore the retailer announced trading cards from the m l b n.f.l. n.b.a. and pokémon will no longer be sold in stores after a fight broke out in a wisconsin target parking lot now according to local media in the milwaukee area one man was injured in a fight and it did not stop until he reached for his firearm no shots were actually fired in the victim has a legal concealed carry permit in total 4 people were arrested and taken into custody for battery and disorderly conduct charges during the pandemic card values have skyrocketed in according to the guardian a 1st edition set of pokemon cards recently sold for $400000.00 at auction. and that's it for this time you can catch boom bust on demand on portable t.v.

available on smartphones and tablets through a play and the apple app store by searching portable t.v. or will to be can also be downloaded on your model sam so smart t.v.'s as well as roku devices are simply checking out a portable dot t.v. we'll see you next time. and everyone i'm joined by my old friend mr ellis williams and can a mr big you call me and you tell me you say man i got caught he'll and in one means you're getting out of this whole issue and i know to manufacture once you use both right now i don't want to do stuff with us because of current right so i gave cost him a cool cover of a very affordable and there was no long term contract he was up to that transmission one on one call to through my mechanic they call cautious to say my family 2400 dollars car shield is america's number one auto protection company

their administrators have paid out over a $1000000000.00 in claims and cover most vehicles from 500-215-0000 miles you'll receive 247 roadside assistance courtesy towing rental reimbursement add no one dish no charge give car shield a call today the 4th to make remember costs will cause protect yourself now against expensive auto repair bills 805893761. you can see the corporate parasites in power today might think they're just a troll will continue forever whether they're right or wrong we have to keep fighting question more. international stories even the news worth knowing can overwhelm the. you could even lose your way i know you want it all so let me

bring in the best. it's easy just. play ready. i think the average viewer just after watching a couple segments understands that we're telling stories there are critics can't tell me you know why because their advertisers more let them. in order to create change you have to be honest you have to tell the truth artie'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 cancer 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. folks next up on dennis miller plus one can you believe 25 years in shutter of the century since the original space check until they get a new one come of that space jam a new legacy and one of the heavy hitters in the voiceover thing also happens to be one of the sweetest guys eric but also i don't know quite know will find out from you know who he's voicing of them but you'll be there they brought in all all the players in the boy so we'll also talk to him about in a show you has an apple t.v. plus a good message for the kid does unplug the internet certainly in a war room tool but strangely it will get up there and i think this fix that eric browser right after this dennis miller what's what.