my emotion learning still is, and i was in the course, mrs. just for that. i good position. we think he might be a soldier because off the boot, she's wearing a huge switch. up took a personal opinion was on the sure. so please please. ah ah.

this is boom bus, the one bed the show you can't afford to miss. branch of boring washington coming up because prices continue to take a hit. it's china's crack down on the premier crypto currency moves forward. straight ahead. we analyze the latest price swing, plus italy as a merge is the new stage in the battle over gig workers' rights, as the nation has called for tougher rules. and that lead up to a g 20 summit. then we shift to the macro scale as bore and investment in the united states as he was up again amid the nation's economic recovery. later on, we're bring you the figures and where the world's largest economy stands with impacts. so today, so let's dive right in. not a good start of the week for bitcoin as the crypto currency shut another 10 percent and fell as low as $32000.00. that's the lowest bit coin has been in nearly 2 weeks . so what is responsible for this latest dive? well, analysts say china is expanding cracked out on bitcoin might,

is partially to blame. it's been a tough couple of weeks for the world's most popular crypto currency. is lost over 20 percent in the last 6 days alone and is down 50 percent from its april peak of almost $65000.00. but still we should mention, bitcoin is still up 10 percent since the start of 2021. so let's go ahead and take a deeper look here with blue bus co hosts and crypto analysts, bench one and chris the i, chris see many bitcoin minds in southwest china, fish one province. one of the largest crypto currency mining bases were closed as of sunday, local authorities ordered a hall in mining in the region on friday, mid increase nationwide cracked down against crypto currency mining. how much about effect is this having on the price? well as having quite a big impact, because right now, i mean in the interim, effectively one 3rd of the global crypto network processing power will be suspended

in the short term. so chinese companies back up, they quit mining pool, such as will be by an anthem. and they've all experienced about a 20 to 24 percent plunge, and their real time hash rates within the past 24 hours. and as a result, transaction in settlement times are more expensive and longer. but again, this is all temporary because we can actually take a look at the on chain data to figure out what's actually going on here. the miners are basically speculators. they hold a lot of bit current on the balance sheets. so if you are a minor in china right now, and you're being told to shut down, what are you going to do? move. and regardless of the scale of your operation, you would like we need cash to finance that move. and that's exactly what the on chain story telling us to aggregate flows them by minors at the highest level since march of 2020, supporting the theory that the least fell off was by chinese minor. having to sell part of their holdings in order to escape this latest wave of enforcement action. it is the most likely scenario because these minors are moving otherwise of operations where just to shudder and not least. we would also be seeing

a flood of 2nd hand mining base and shipped the aftermarket as well, which we haven't. so most likely theory is that they're moving elsewhere to more crypto friendly area where there's cheap electricity. so as a result, chinese miners must also form alliances to migrate overseas to other places such as north america, malta, etc. and now ben, there's other news here as the people bank of china is also pressuring banks and payment firms, including china, construction bank, an hourly pay, urging them to crack down harder on crypto currently trading. why are they doing that? yeah, well the goal here is actually utilize the private companies that do a lot of the digital transactions in the country to get them to be a part of this process. so as you mentioned, you know, our page part of that ad thing. icbc also i c, c, b, they're all part of this, this strategy but says essentially 2 things we want. they want new investment and technology that will make those companies better able to detect cryptic or the transactions. and they also,

they being the chinese government one to see more in terms of know your customer regulation being pass enforced by private tech companies. the other thing that we're seeing is that companies like pay, you're saying that they're going to go a step further than that. they're actually going to specifically look for any merchants on their platform who are involved in any kind of crypto currency transactions. and they will blacklist them as well. so miss and what, what kristi just said about the miners who are moving out of the area. that is absolutely true. i think that's a natural cause and effect here. but you also have a shut down here of anybody who's involved in transactions on any level. and so there's a seems to be a very clear attempt to close them up. why is it happening? so we talked about the what? so how about the why is the why really because of the fact that the p, b o c, the people of china is planning to unveil very soon hear its own digital currency. and the chinese government is working to eliminate competition for that. they want to push out all other competitors so that they really are the only game in town. i think that's a lot of what's happening. christy. what about that idea that ben just said they're

that they're trying to basically make room for their own digital currency? i think that's very sure the chinese authorities normally in line with the global financial regulars tightening up on digital currency trading. apparently to prevent the systemic financial risk and illegal activities. but in reality, like, especially for china, it's about clamping down on currency control because that's what trying to fear the most massive amount of capital flowing out of china be a big point. and they have no way of controlling and all just when they're about to unveil this digital r b. so it's not a bit coin. celia cracked out on. there is also the extent that been mentioned alibaba on the 10th and who own alley bay and we chat, both of whom got hit with the big spine. so it's a big industry over halting now. get ready for this roll out of the arm. be digital are being which so far is not really getting any traction at all. because a bloomberg interview found that chinese citizen showed very little interest in switching from mobile payment systems from by ali baba $0.10. and others openly

balk at the idea of a digital r and b, which is programmable, comes with ad hoc expiration date authorities access to real time data on their financial life. so after the very move form response, china found that ultimately they need to lay the groundwork for a more forced kind of adoption by basically removing all the other competitors alley pay, we pay and bitcoin in order to kind of follow citizens into adopting this new digital arm be and now ben, this crack down isn't just hurting bitcoin, other kinds of actually taking a hit as well, including a theory m, which actually dropped below 2000 dollars again. what do you know there? yeah, it drop other all coins as well. have also draw, look, i think the, the main thing is as big bitcoin go, so it goes the rest of the market. but, but remember, a theory has gone up at a tremendous rate. even faster rate than big point has gone up this year in terms of its growth. so that's been very positive. and remember a theory of an ether is specifically tagged to smart contractors,

a lot of utility that's based on you theory. and so i don't think it's going to go anywhere. it might tip a little bit, it'll come back up pretty quickly. but again, i think there's an important point to all of this conversation, right, which is that we see around the world right now. a lot of countries, and i think the united states will be one of these countries, but china is certainly leading the way on this. there are a lot of countries right now that want to step up and say, look, we are the authority. we see the interest that people have in digital currency and so we're going to create our own what you have to remember about crypto currency. all of it is that crypto currency represents a transfer of wealth from the top to the people where people are able to expand wealth without the controls of government and central bank authorities. what a digital currency coming from a central bank does, is it re allocates the wealth back to the top. that's what's happening to china. that's what will happen with any central government that tries to impose its own central bank currency boom, but co host, encrypt oh analyst bend swan and christy, you're not going to get it any straighter than right there. thank you so much.

thank you. and as more and more restrictions are being lifted, air travel has come back at full speed, but the airlines don't seem to be ready. summer, even proactively canceling flights are to correspond side passenger has the full story. now, wouldn't a spike in travel, the demand increase the supply? what happened here? so brand, there are 2 things that are actually happening right now. the 1st is how fast the airlines are bouncing back. now the borders once again opening and people are getting vaccinated, then the 2nd is that on expected surgeon travel and lack of manpower to meet the demand. and we're going to look at both right now. so here's a look at how global airlines are doing right now. right, so there is no secret that dependent mich paralyzed vh and industry in 2020, and commercial airlines generated only $372000000000.00 in 2020, in revenue. that's down for $166000000000.00 compared to 2019. but if you

look at 2021, revenues are already at $458000000000.00, and we're only in june right now. so the airlines have the potential to match or even surpass 2019 numbers. now looking at the only us carriers and right now they're scheduled to fly more than 88000000 seats in july. now that's a $28.00. 32 increase from april. now i want to give you comparison over the same 4 month period in 2019 airlines increase the number of seats in the same market by just 9 percent to meet summer demand. so it gives you a comparison how it's growing right now. so then you would think, isn't it great news for the airlines? well, yes and no in terms of revenue. yes, it's great news, but just how prepared our airlines for the search specially and since more and more international borders opening up every day. i'll give you an example just this week

. the european union commended adding to the us to the list of save countries would make it easier for us travelers to either the $27.00 country block this summer, which means more and more travel. but all of these changes require a lot of preparation from the airlines. in fact, airlines generally like to unveil new international destinations sometimes close to a year in advance. now this long lead time give is government affairs and airport teams time to secure permits and contractors to handle everything from trek in to wheelchair service to fuel on the ground longer. further, 1st flight takes off, but airlines don't have that luxury right now because what 2 months to a year before, airlines must now do in a few weeks, especially since the airline generate and majority of their revenue from summer travel. creating right now, the 1st real opportunity for airlines to make money since pandemic began,

which is why airlines are trimming flights to alleviate the potential strains on their operations, i must say the number of flights right now being cancel is relatively small, just about one percent of flights flying in the 1st half of july were cancelled. now that was roughly 950 flights from schedule. but it is a lead, a sign of how tricky it's been for airlines to scale up after a year of low to no demand and brand. airline also expect to face a shortage of pilots in the coming years. as more and more pilots reach retirement age, plus there was the thousands who accepted buyouts and early retirements that airlines are for last year during the pandemic. so manpower has been a huge factor in what's happening right now. there's also the hiring. i did say transportation security administration, that's been very, very slow despite the passenger volumes this summer. now thout were laid off to

depend them i got to say, but only a few 100 have come back to work. so even if you flight is in council, you might still miss it due to longer than usual wait times at an airport right now brent inside as we talk about the return of summer travel our neighbors to the north a travel destination for summer time goers, canada they've actually eliminate some of their restrictions. what's going on there? ne, in fact have canada has some travel restrictions, but only for fully vaccinated. canadian citizen and permanent residents crossing the you from the us border. now, canadian citizen, a permanent canadian residents, may enter and enter canada without quarantining after july 5th, if there are a fully vaccinated. but there's it spin does not apply to the us citizens and resident traveling to canada. now the current u. s. canada border travel restriction is still currently in place through july

21st. so foreigners still have to wait before traveling to canada. brent or t correspondence sites having to thank you so much and time now for a quick break. but when we come back, for an investment in the united states has begin to rally after taking a major hit during the cobra, 1900 pandemic. just on the other side, we look at the figure than what it all mean. that's going to break here. the numbers at the close, the, the ah, ah, ah, ah, ah, ah,

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me dares thing. we dare to ask in always be polite, never engage with an aggravated or confrontational office. don't get into any conversation to start answering questions. just ask for an attorney to survive in interrogation. you've gotta be ready to step out. definitely don't want to be going to throw in a jump. so one cups. you're more likely to walk free if you're rich and guilty, you are, if you're poor and you got 2 eyes and 2 ears and one mouth.

so you should be in here and a whole lot more than you're saying. if you don't take that advice, usually going to dig yourself before the welcome back. labor and employment ministers of the world's largest economies will meet in italy this week for the g. 20 forum. and much of the focus will be on the fair treatment of workers in the gig economy. italy is expected to call for tougher rules to protect them, as the issue heats up across europe. legal adults, molly barracks, career with american lawyer is here with more. molly, why is italy pushing for this action now? i think it's about timing, like you mentioned, there's already a wave of angst if you will, against some of the violations that are perceived. these issues with how workers are treated in the gig economy, whether they're working for

a tech company like amazon, or maybe a food delivery company. it is a whole slew of issues that are very similar and similar complaints are coming up, everything from their conditions to the way they're treated. do they have the same protections as people that were for corporations that do have employment contracts that are more comprehensive, that sort of thing. so italy already has an aggressive stance towards worker's rights affect. the g 20 summit has happily happening in sicily this week and it comes on the heels of, you know, a whole issue, whole range of issues that have already been, you know, making headlines. emotions are high there to brand because the trade unionists was actually killed during a demonstration just recently against job losses at fedex of fedex. their course that's done by the united states. so, you know, trade unions are blaming outsourcing in the use of workforce management algorithms on undermining workers' rights. world leaders recognize that there are a lot of challenges and that this is going to be an ongoing issue and that the but it's no excuse to avoid having some uniform employment standards. so i think that's

what they're going to talk about a lot during the summer. and how can they address these issues and we know italy is pushing for this, but have we heard from the other nations that they might be willing to take the thought as well? yes, and i think you're seeing a lot of nations that are italy's working with spain on coming up with some comprehensive solutions to basically get organized. this is a developing gig economy, if you will, but it doesn't mean that they're right should be turned out. the window is what you're hearing from a lot of advocates and, and labor minister. so, so far a lot of things have been worked out in the court. you know, you saw the trade unions come out ahead and, you know, they, they, they one representation of amazon employees and u. k. you have other, even companies within the u. k that are saying, hey, we do see regulations coming, we're going to go ahead and create some regulations for ourselves. we'll get public input. we'll make recommendations to the government. so it's coming, it's just a matter of what that looks like and how it's addressed either per company or is it just general regulations that are made to cover all of these companies. but that's

the beginning of this process is how they can address that and make those changes that will either be applied individually to companies or as a whole. busy to companies that come in from other countries as well and quickly my before we go, how are we expecting this to affect the future of the economy business model in europe as a whole you might say prices go up. i mean, like i said, a lot of these court decisions that have already been leveled against some of these companies, like, for instance, uber technologies in may, you know, agreed to formally recognize the u. k largest union. so now they're representing their drivers. that's what i was mentioning a minute ago. so, you know, italian prosecutor said, uber eats just the take away dot com, also have to hire their drivers under regular labor contracts. so if the courts don't take care of it, the government certainly are going to do it. they recognize again, this gig economy is not going away. employees like it, there are a lot of flexibility. they like the benefits in the flexibility of it, but they do want to be treated fairly. there are

a lot of horror stories that are coming out, especially with some of these delivery drivers. so it's a, they want to address it. it's just finding those solutions and as it might surprise you, it will take time and lots of discussion, i'm sure. and for those, you don't know, it's much more in europe much more regulated. how say something like uber works than it is here in the united states. i know in the alone even the, the drivers have to go through actual psychological tests as well as driving time to make sure that they're capable of driving. i think similar to the way the taxes are there as well. molly barrel of america's lawyer. thank you. so much for your time. thanks, friend. and the united states is poised to be the world's top destination for foreign investment this year, and next, according to projections from the united nations. now in 2020. as the cobra, 1900 pandemic ravaged world economies of the u. s. a. 40 percent drop and investment from overseas. meanwhile, data from the un conference on trade and development said overall, overseas investment by businesses around the world fell by nearly

a 3rd last year. now the rapid economic recovery in the us with the federal reserve actually projecting a 7 percent growth in g d p. this year is playing a major factor that along with trillions and stimulus measures and trillions more in a pros infrastructure plan or making the nation prime for investment. so for more on this and some other economic news of the day that's bringing octavio mirandi, he's ceo of optimist. l l c. octavio always a pleasure to have you on the show. now the u. n. had actually projected the u. s. with lose the top spot to china in january. but beyond the fact that we just mentioned why the u. s. still the premier destination for foreign investment. why i guess in 2020, actually one. so china did surpass the us in 2020 for the 1st time, so they, the not the most of that have talks about the, for the simple reason the u. s. was more hit by cover than trying to was in china was largely open. i'm another nasty, peered at the beginning,

and then we'll be back from normal and with in the u. s. link on. so in 2020 the u . s. was knocked off the top spot, but that was seemed to be a one off. and now the u. s. seemed to be reclaiming his rightful space in that area. i will say in china, in general, i mean it's called huge economy. but unlike the u. s. government owned enterprise of cycle stated enterprise play a much, much bigger role than they do in the u. s. and the certain sectors, entire sectors where the state and enterprise is sort of the dominant game. so if you look at things like ation or utilities or transportation or banking, you can't really get in as, as a phone company. and that's going to hamper the chinese for some time to come. and i guess the sumption always been that they will sort of have a more limited role for the state in the future. but that does not seem to be happening. so they still count for about one course of the countries output, and they seem to be holding study that says not greater liberalization taking place here in china. so you're saying, because despite tensions with the west, china is still is one of the largest investors around the world. and it's 2nd and

overseas investments coming into the nation. and as we talked about them eventually becoming the world's number one economy. you know, are they really poise to take over the u. s. in this metric, but you're saying really not so much right. why? i think that us will be back as an i'm one destination for. i mean, i think so far this year it is. so it's quite true that the us as bounce back in terms the metric but this is more investment. bassoons in the us, you can invest in any sector you want. you can invest in defense and utilities and energy in time about smell straightforward. and i think there's been some sort of course retails and trying to, of, of people coming to months to the attention of the authorities. this origin stepping in them taking a bigger cup of the action than they had anticipated. so that's, i think, a bit of uncertainty faced with investments in china. now the chinese certainly of the biggest investors in the world, them and they put this enormous surplus in trade. they have to invest somewhere.

and so i don't think that that's going to change. certainly going to be the largest investor, but it's going to be hard for them to fund the largest destination for foreign investment. it's simply a to restrict, to become in the states. and i think that before we go, i want to hit on the state of markets because the dow surged on monday after its worst week since october of last year. while that's the p thought significant gains as well. what's pushing markets back up and can we expect this momentum throughout the week in the foreseeable future? well, i guess we'll push the mark is down. last break was the fed coming out on wednesday and saying we're going to raise interest rates. and that of course, moved to market, and that was a little bit of a correction that now j pow, at the end of his speech, said, well, that's going to be in 2023. so 2 years may be we might have to hikes in 2020, say, but take that would be grain of salt as i think the exact words he used. so i think the market looking on say, well in 2023 is a long way away and he's saying take,

it would be grand assaults. i might not happen. so if the fed continues to push the montrose of market, so keep it or not, what happens for this rest the rest of this week? mean, i think the market is reassessing. what power said last week, and basically thing doesn't look so bad. i think that should be ok. so i would expect the balance of things just that, that the mark is going to continue this momentum this week, at least. and the fed chair is actually going to speak to congress this week as well. so who knows if what he says may have a major impact on markets as well? octavia morality of optimist. l. l c. thank you so much for your insight. thank you . and finally, what the do, if chicken wings are in short, supply causing prices to skyrocket and your in the chicken wing business. well, if you're wingstop, a chain of restaurants, which both nearly $1500.00 locations throughout the united states, apparently you launch a virtual brand called fire stop. and you get that like the company's wings. customers will actually be able to pick one of 11 flavors of their signature sauces

for these chicken tie and get them in bone in or boneless varieties during the pandemic when most restaurants are actually forced to only offer delivery and take out options. chicken wings grew in popularity in talking about the spike in prices . wingstop, theo and chairman charlie morrison told c. n and business. the wholesale price of ways that a year ago was as low as $0.98 today. is that $3.22. so it's a meaningful difference, and that's it for this time you can catch boom bus on demand on portable tv available on smartphones and tablets, google play and apple app store. by searching portable tv, portable tv can also be downloaded on newer model. samsung, smart tv, as well as roku devices. simply check it out at portable dot tv. what's the next time? i'm boom, but me. oh,

the world is full of sharpie and they're looking for jumps like my cabin and he falls right into it. because as i've said on this show and other shows for over a year, now narcissism in big point don't make so to to gotcha finished. so do you think that can interest you better than the min russell? but i hope so, but over the over the, the book called up just sort of lenient motion learning and of course procure mrs to

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me the breaking news decide the website to to ryan in one year many media including trans flagship press t v a c by the us government, according to statements on their pages or so to come, campaign is lasha to so called unfair inclusion of the 1st ever friends jen directly to the female event, the olympic funding it. a portrayal of women plus another slap in the face of president macro and his party flops in the french regional elections. and the world must change unity over division and hatred as president putin on the 18th anniversary.