hello to the team, starting off for this edition. i'm back with more in just about half an hour. if you're not around then either which way hope you have a great send me the join me every person on the alex simon show. and i'll be speaking to guess in the world, the politics sport business. i'm show business. i'll see you then me the the 3rd boom, but the one business show you can't afford a bridge bore in washington coming up. inflation gauges continue to rise as the global vaccination process continues to move forward straight and we're going to

break down the numbers and what it mean for the u. s. economy plus it's criptos. popularity has stored, so has the crackdown on mining. we bring you the latest on the growing criticism of the world's foremost crypto currency. then we turned to the olympics where japan has faith criticism for their decision to move forward with the game. later on, we discussed the big money involved. another major headlines coming from the world sports pack today. so it's dive right in. and we leave the program with new data about the state of a playstation. in the united states, prices rose 3.9 percent and may compared to a year ago, the commerce department reported friday. this was a point 4 percent increase from the previous month. now if you exclude volatile food and energy prices, the core personal expenditures, price index increased point 5 percent for the month up 3.4 percent year over year. the biggest jump in nearly 3 decades. now, the u. s. federal reserve recently increased its inflation target to 3.4 percent,

but the central bank maintains this will only be a temporary or as drone power tends to say, transitory rate or inflation increase. so let's take, get a look at this with some expert analysis from boom bus, co host to chris the i. christy i want to start with the fed is the fed is backing itself into a corner. thing that has inflation is transitory. what happens when it's not a good question then the fed will be away behind the curve and it'll just be too late. so the fed has continuously underestimated the increase in inflation and still expects that dropped back down to around 2 percent in 2022. so i think that kind of wishful thinking to me because in the last year and a half, the fed has introduced more broad money into the american economy in the shortest time than we have ever seen at any point in american history. so given that i don't

see how any inflation here can possibly be transitory and be there now expect for us inflation to remain elevated for the next 2 to 4 years and remain in the 2 to 4 percent range. the analysts went on to say that it was, quote, an a so many dean inflation as transitory when stimulus economic growth asset commodity housing inflation are all deemed permanent. so the 1st half of 2021 is now drive into a close. and now lation hawkish, central bank speaker, growth are going to be the key thing to watch out for the 2nd half. so yeah, i think that that is just fooling it's. i'll try to reassure everyone that there's absolutely nothing to worry about. almost trying to deny that the flood heading your way because you want to save the house when you already see water creeping up on the front porch. and meanwhile, it looks like president biden's, $1.00 trillion dollar infrastructure plan, which actually includes $579000000000.00 and new spending is gaining some momentum as there has been a bipartisan deal there. how would you go? how is this going to compete with, say, china belton road initiative, which is

a huge infrastructure project for mine, and is now under a lot of pressure to compete with china. and this, that's why fi is pressuring to pass his infrastructure program to fix all these bridges. mass transit, modernize airport extend broadband and basically everything needed to get on par with china. and this is meant as a response to try to belgium, an initiative. but the use of playing a catch up game here, because china spends more than 2 times on infrastructure than the u. s. according to the figures from the council on foreign relations, it puts us at 2.4 percent of gdp spend compared to 8 percent spend in china and infrastructure, and china and maintaining that paid for several years now while the us mainly on the fence. so chinese mayers are also motivated to build boldly that they expect job postings to new cities every year. and government officials are actually rewarded on how much improvement they can make physically. so places like shanghai, both one of the world's longest and metro carrying more than 10000000 passengers.

bailey. so i mean, given that bite and has pretty much declare the u. s. is going to be in heavy competitions with china forks. everything from tech to green energy to trade. i think he has to try to find a way to boost us infrastructure, which is very much outdated in comparison, especially when i g and connectivity is one of the main areas of competition. and chris, it seems like, while the market is so concerned about the pending inflation monster, this bite and pumping so much more stimulus into the economy in the form of this infrastructure plant. can this backfired over here, the economy with more spending it absolutely could. and senate minority leader mcconnell recently warned that the vital current budget proposal would quote, drought american families in debt deficit and inflation. i mean, the economy is already hot and the 1st plan of action is to put more money in. so the pricing pressures are real from everything,

from gasoline to lumber. but apparently the white house is betting alongside the fact that the return of inflation will last. so this infrastructure plan is like another stimulus shot, introducing new money, new capital into the economy at a time when we already so concerned about overheating. so there's a lot of unknowns here, but it does raise the potential that inflation could heat up and get out of control . because the reality is, as you know, that in dc, everything is an immediate short term political decision. so of course they're going to say that inflation is not really a concern at all in order to get their agenda. once inflation really does become a problem and we're sitting with 81970000 question. again, the term is up and becomes not my problem anymore. so if we do have bias latest infrastructure plan, which has about $600000000000.00 and new spend, that takes a running tally of global monetary and fiscal stimulus to $30.00 trillion in the past 15 months. just about 30.5 trillion. that's the equivalent to the entire chinese and european gdp. so there's any confusion as to why despite millions are

still unemployed. and yet consumer spending is now far higher than ever was before the cold pandemic. that's why christie, we know, as you just said, to be the legislators here washed, and they love to legislate crisis to crisis though to your 1st point on that last one there. i'd like to find that policy that mitch mcconnell agrees with joe biden on by the coast. christy, i thank you so much. thank you. the global markets were mostly up this week as the recovery continues. let's start in russia where the mo, x is up. now while increase tensions with nato threatened to break out in the black sea, it was that conflict along with the continued recovery that oil prices to their highest point since 2018 on wednesday. the rubel was up point 2 percent hitting a one week high against the dollar. moving to asian markets,

the shanghai composite is also in the green index with up more than 2 and a half percent on the week. responding to the u. s. federal reserve signal that it would keep interest rates low health care stacks are gaines this week, half of the country approved it's 1st car, t cell therapy on wednesday, which aims to treat certain kinds of late stage cancer in hong kong to hang saying is up, gaining 1.4 percent on friday, a load we saw gains in the tech sector to close out the week with 10 2nd ali baba. they were each up more than 2.5 percent. and my one story nearly 5 percent. it's another green arrow in japan where the ne k is following trends in the region. in its latest report, the government said the japanese economy is still very heavily impacted by the pandemic in all areas. as it gears up for the tokyo olympic games and next month, now let's move over to india where this sense x is up address passing, 53000 for the 1st time ever this week, the index was fueled by

a record number of vaccinations against koby 19 with india administering 8300000 doses on monday alone as cases continue to climb and restrictions are lifted. we have our 1st red arrow for the week, and i'll show you where the s x ended the week down despite a rally on friday, 10 to the over trade with china, with all the way to the world trade organization. this week is australian officials that they plan to vigorously defend their actions in response to complaint from beijing. in south africa, the all share is up data release this week, show that in place and hit a 30 month high in may. however, the government is not expected to raise interest rates any time soon. let's move over to europe and the america, where we're seeing more of the same, the foot, the is in the green, the bank of england acknowledge on thursday that the global recovery has been somewhat stronger than anticipated, but it will keep interest rates and asset purchases unchanged is expected inflation to eventually hit 3 percent, the german dax and french cack. they were both up this week as well. airlines took

a hit and make concerts that block leaders would move to lockdown borders to stop the spread of cobra, the variance. but we did see some gains in retail in germany that did it was the stand out here with shares up more than 5 percent moving across the atlantic to brazil. the eco best buy is in the red falling from positive territory on friday afternoon. the rail was up nearly one percent to hit one year highs this week. the search came in response to the news that brazil central bank is set to raise interest rate by $100.00 basis points marking a 4th straight increase to can pat rising inflation in the country in mexico. the b m b as up the country central bank also respond to rising inflation, making me and inspected unexpected. that is to say, decision to raise interest rate by a quarter point 2, board point 25 percent the pace of rally 2 percent in response to that news. moving north in the us, the down the nasdaq and s a p. they all finished the week in the green with the s p heading fresh record highs on friday. margaret responded to the by the

administration's announcement, that democrats and republicans have made a deal to support a $579000000000.00 infrastructure plan. after months of debate and finishing things out in care that the csx is up, the index has already seen gains of nearly 16 percent for the year. with the latest increase fueled by mining stock and a report that domestic wholesale trade was at 1 point, one percent in may. moving into next week, we will can, to keep an eye on global tensions and inflations impact on that ongoing recovery. and that is your global market walk. and there has been so much news writing bitcoin over the past few weeks that we want to catch up on a couple of items today that includes an under reported story that chinese bitcoin miners are being forced to flee the country because of the nation's recent crackdown let's bring in boom bus, co hosting crypto analysts, friends,

one to discuss been what's happening with china sweeping ban on crypto currency? mining reports indicate that the band has paralyzed the industry there. yeah, paralyze is a good word for them and you literally have one minor sewing their equipment like it's you know, scrap metal. essentially they're, they're free in the country for the most part because you cannot mind. so specifically in the one province where a lot of this money took place, in fact, it was the province in which about half of all the world's big point supply with being mind no more. and so what do you do if you're in though very well? a lot of these because miners are leaving the country, they're going everywhere from august on all the way to texas to try to find a way to get back into the mining business because they can't do with in china the crack down there. the chinese government's not playing around with it, they're very serious about cracking down a crypto currencies, including big coin, obviously, brenda, we've talked about because they are creating their own central bank currency. but the digital currency, china's cdc, will be kind of a 1st of a kind in many ways,

even though other countries have done it. none to the extent that china is china is also unique in that they are cracking down on competition ahead of the release of their cdc. and speaking of vining here as those minors are looking for places where the former mayor of plattsburgh new york on thursday can out on the economic benefits of minor setting up shop in the region. it is actually interesting because the mayor of miami was also talking about making it a job for bitcoin mining as the these rules are changing elsewhere. so why is the former mayor platform making this discussion about big money? yeah, well i think what he's saying is, look, we wanted the point miners to com, one of the largest mining operations in the world. he says, moved up to apply for new york. the problem is that when they pretend to generate a lot of electricity and use a lot of electricity, which they're going does the, the price of electricity for the entire region, the entire town, which is about 900000 people,

went up for everyone. so apparently people living in that in that town were furious because their electric bills became sky high because the rate that they were being charged because of the town usage increase. so what he's saying is a, this is, this is not as the deal is you might think it is. now you're absolutely right. when you say the mayor of miami, just talking about bringing the coin mine in their hand. the miners come here. we're a big and miners need to go candidly. they need to go where there is natural energy . so areas where there are a waterfall, which there aren't in miami areas where there are strong rivers, which obviously platform has. but you have to be able to set up ways of drawing energy from those sources. if we were smart about bitcoin, energy consumption will set up an area where their strong wind energy, strong solar and strong are water, kinetic energy in order to be able to build systems that are kind of clean energy. i think it can be done. it is being done in some cases i have some friends who are doing that, but it's not being done everywhere. well, that's something salvador was talking about with using the g o,

a thermal heat to generate the energy as well. and financial services companies are rolling out new products and services that allow more everyday investors to ad bitcoin and other virtual currencies to their next day. with the fall that bitcoin and other all coins have taken over the last few weeks. will something like this have a hard time getting off the ground and i have about 35 seconds here for you been? yeah, i think it will have a hard time getting off the ground. we'll make this quick because, you know, i think one of the struggles is that if you want to be in the long term game, it's great for that. so with retirement, if you're planning to put money in and hold it for a long time, because would be the way to go by so bad swan thank you so much for your insight for that. you got to thanks the time now for a quick break. but when we come back, we turn again to the olympics where japan has face criticism for their decision to move forward with the game. later on we're going to discuss the big money involved in other major sports headlines. and as we go to break here, the number that's close,

the the ah, me mr. to go to college 3 for good. can i just knew who brother the know you mean? russell ah, so, but over the, over the book we sort of the

motion learning mothers is the senior course which misses to mrs for bob rhodes or, you know that i good position. good. we think he might be a soldier because off the boot, she's wearing a huge switch. up took a puzzle when you was young and you're still summarizing police police the president of the british empire perfected logistics. the sun never set on the british empire, either dominant domination of the c d. like right. and so the u. s. what china is

saying is that they have, especially with one bout one road initiative, is going to kind of connect similar empire. that's great, but it's going to be land based. their ideas are going to create a land based empire where it's off. so therefore to do and anyone is partners with them is also exposing themselves to the risk of bitcoin. absolutely. replacing all the money because we're seeing enough doors. the welcome back after being postponed for a year didn't cover 1900 pandemic. the tokyo olympic games are set to kick off in less than a month. and just this week, it was a note that the venue that the games will allow 10000 domestic spectators. now that's despite warnings from experts who say holding events without fans, is the safest option. as japan face several states of emergency due to outbreaks in

the nation, many called for the games to be cancelled. in fact, polls in april showed 70 percent of citizens did not want the game to go ahead as plan. so why go ahead with the games? well, there are many reasons, but a big one, you get that it's money. it is estimated that japan will have spent as much as $35000000000.00 to host the game. on a $7500000000.00 budget and organizes even say the delay ran the budget up by $3000000000.00. along with that, there are huge money in global sponsorship deals and television right. for the games that hasn't always been the case. earlier i spoke with john worth time, he's the executive editor and sport at sports illustrated. an author of glory, dave, the summer of $984.00 in the 90 days. that changed sports and culture forever. the book kind of, we've some of the biggest story lines of basketball candidates, hockey, and boxing history with an overall arch about the 1984 olympic games. i started the

conversation by asking him about the fact that some believe the 84 games could be the last with news week, even having a cover story asking, are the games of dead in sure. you had one individual say we got to start creating this like a business that was peter, you brought your right. i mean the games just kind of go go through the chronology and 72. there was a horrible terrorism attack in many in munich, 76. you would be a huge cost overruns in montreal, but canada took 30 years for canada and called back in montreal to pay this off $80.00. there was a boy god, 84 people are thinking, this may be it for the olympic movement. and peter, you brought to look where we're not going to do what you just described going on in japan. we're not going to have a huge investment in facilities. we're gonna sell sponsorships, we're going to pick networks against each other, make them bid on these media, right? feel the games that are profit, a surplus of i think we talk about the olympic and tokyo and know and saying, oh this is about the athlete that the given us, the rotors that should have one more chance to compete. it's all about the finances

and you can draw a direct line from, from that to 984. and how big was the television rights? and we've seen this explode throughout sports over those last about 40 years. is that one of the big angles that actually not to say they were profitable, but they were able to, to break even and use some of that revenue for future olympic games and to compensate the people involved? yeah, we tv committee was it was a b c network that they didn't 9 say here, which is the tie was gargantuan. it pales in comparison to what nbc, of course is saying now, but the other thing was sponsorship. then the total elliptic sponsorship in 1980 game, the late class of the previous olympic, the us was about $10000000.00 combined. peter huber, i said, wait a 2nd, we need to fewer sponsors pay it a lot more money. we're going to make it competitive. one of the very 1st b, it was for beverages and coke and pepsi squared off coke b to $12000000.00. so for one beverage sponsorship from coke clips,

the entire sponsorship for the previous olympic any in 1980. it is only grown since that i want to clarify again to your point exactly. now those numbers might not seem huge by today's standards, but back then that was huge money involved. now you also address 984, the supreme court case regarding college football and television, right. and while the schools one, the right to actually negotiate their own deals, there is a line in the opinion of the n c, a versus board of regents decision that actually stays quote, in order to preserve the character and quality of the product, athletes must be paid and must be required to attend class and the like, why did this simple statement have such an impact? preventing athletes from being compensated for, you know, for those of almost 40 years now. yeah, this is the supreme court case in, in the summer of 84. it will have, it goes to what's, what's happened in the last few days and it's basically gave schools the right to

negotiate their own tv deals. this was not armageddon. the cmc predicted again parallel. so today that we may want to consider, but there was align if you say, any opinion basically say, you know, these athletes need to be kept amateurs, college sports or about amateur athletic. and that was seized upon by the amc a and this was not a favorable ruling to the n p a. but that one line of get that one line of the opinion, the n p a sees upon core, i would say 37 years and we can talk about recent events that may have appended that. but this was a supreme court decision, 84 that didn't get a lot of attention, but that would have a huge impact in the future of college sports for, you know, really, really often to the present. and that's exactly what i wanted to bring it to, to the this way because it is that no longer relevant as we have seen, the supreme court ruling favor of athletes receiving what they say is unlimited benefits tied to education and the ca. now, pushing further into compensating the student athletes for name, image, and likeness. right?

yeah. well we hadn't, it was not, you know, it's not just of course it's you wrote the opinion, but you had bread, cavanaugh writing and potentially you know, a contending, if any, that was it they bring it on essentially like this is a fairly narrow ruling about paying for education and laptops and other sort of education related expenses, but the door is definitely open for a broader reading in a broader challenge to the mc cartel to amateur. and so i think it can be very interesting to see how schools, how broad they go in terms of the educational benefits that are now on the table. but you sort of have a sense that the, you know, the, the iceberg is melting a little bit. it'll be interesting to see if we can move the ball, no pun intended, from the educational benefits to outright compensation. well, that's what i was going to bring up to, is with the name and image and likeness rights that has been talked about, because the anthea, that actually looks like they're going to move forward to kind of have a uniform policy on that. and that's mostly due to statewide legislation that

hasn't gone to the supreme court, or they actually where do you think about the supreme court weighing in on that? so they're just saying, let's, let's take care of it now. yeah, i mean what, what they say their public statements might be very different from their private stands. i just think that you sort of play out this model and we all understand that the revenue sport actually you, our football team that generates, you know, tens of millions about hundreds of millions of dollars. probably those are athletes that ought to be compensated. i think what's going to be really interesting is just to see where these dividing points are and i think we all, yeah, most people i think a grid. i know that this is empirical. most people feel like colleagues generating revenue should be compensated. i think what people don't always grasp is how few calls are narrow, the subset is and there are, you know, 95 percent of college athletes aren't in revenue sports. and some of the athletes in revenue, sports are the money generators. so we talk about, we talk about naming image and likeness that we talk about compensation. and i

think it's a pretty narrow band of athletes that this will, this way impact john worth. i'm offer of glory days. the summer of $900.00 for the 90 days. that change sports and culture forever. thank you so much fun. and finally, the space tourism race is heating up as the federal aviation administration has approved virgin galactic to fly people in the space. the company announced friday. now the news comes is billionaire richard branson's company is competing with the likes of amazon founder jeff bezos is blue origin and eli and musk space x. in may, virgin glass completed its 1st manned space flight of its space ship to aircraft, from it's brand new space port in new mexico. boy, is that a lot of space versions? galactic stocks served as much as 36 percent on the news friday above $55.00 per share. nearly reaching the highs and side february before it had plummeted back to

$15.00 a share. and that's it for this time you can catch boom bus on demand on the brand new portable tv app available on smartphones and tablets. google play in the apple app store by searching portable tv, portable tv can also be downloaded on newer model. samsung smart tv as well as roku devices, or you can simply check it out at portable dot tv. well see you next time here on boom, but ah, responding. need budget yet about in the past year, but i again gag jones. jasa start. i might as well talk to you guys so much i hope m a little difficult to find the bug. natalie.

there are 410 days right. on the bank of canada based water, chemical lights and has are, this is going to develop new to them and their international market know that these industries falutin, you're simply ignored in one days that mother and when we loved them, other than that means we lost the in the, in the look forward to talking to you all that technology should work for people. a robot must obey the orders given it by human beings except when the shorter, in that conflict with the 1st law show your identification. we should be very careful about artificial intelligence. the point obviously is to great truck,

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rich and guilty, you are, if you're poor you got 2 eyes and 2 ears and one mouth. so you should be seen in here and a whole lot more than you're saying if you don't take that advice, usually going to date yourself a whole days headlines, the u. n. is pushed to investigate crimes against indigenous people in canada. off for another $751.00 unmarked graves were found on the grounds of a former residential school. the chief for one local 1st nations group telling our teeth, they faced genocide for several generations. we did not ask for all of this to happen for 5 generation. it was policies in the 1800 early 190-0100. this is genocide briefing you on this to police in paris clearing hundreds of tents from

the city center of the refugees and the supporters.