reductions, retail sales, they were up 8.5 percent in july from the same month last year after seeing an expansion of more than 12 percent in june. meanwhile, in japan, according to data release money, the world's 3rd largest, the company offended by just 1.3 percent in the 2nd quarter of 2021. after falling 3.7 percent in the 1st quarter and contracting nearly 4.8 percent in 2020 as a whole, as the nation struggled to deal with the coban 1900 pandemic. so what do these latest numbers tell us about the future of the 2 most crucial asian economies? well, to discuss, let's bring in boom by telephone christy christy. i want to start with china's economy, which is hip re pandemic levels. but there are concerns that the growth is flowing due to inflationary pressure and issues with the supply chain. what they you? well yeah, one of the biggest threats to recovery of inflation, china's expansion is losing fema businesses are now grappling with the higher cost

of supply bottlenecks. so the new coven, 19 infections, and the through the delta vary and have also now led to fresh restrictions in the region, which in turn disrupted the countries factory output. the data earlier this month also showed that export growth, which has been a key drive of trying to rebound, had unexpectedly slowed down in july. and this is, as we talked about before because of the highly interconnected nature of our world . now, while china is growth engine, in terms of supply and producing manufacturing goods, it doesn't matter. the rest of the world doesn't recover because then there's no cut consumer and customer to buy the products. european and us imports from china slow down as importers phase higher cost from inflation and the pace the recovery slowed down in the wet. so according to analysts, consumption, industrial production and investments could all slow down further in august due to further tightening measures. and coven, 1900 controls. and these production control center, steel output to the lowest monthly level since april of 2020. and then over on the consumption side, the story was even more disappointing domestic consumption,

which is another major contributor to g. p fell, and his liking far behind china's industrial and export sectors. so retail, delta slowed down 8 to 8.5 percent, and china's tightening social restriction to fight the delta varying outbreak has now hits a service sector affecting both travel and hospitality in the country. and christy, the chinese government is also taking steps to strength and fiscal and monetary, possible policy that is to say to support employment as well as take steps to counter increasing commodity prices. what exactly are they doing there? and how is this all going to work? well, the central bank is unlikely going to inject a massive stimulus to boost growth, but i think it is reasonable, though to assume that they will maintain an evening by many analysts like the central bank to announce another cut in the amount of reserves cash banks. my hold in order to support further. so the p b o c injected billions of r and b through medium term loans into the financial system on monday. but the cost

of borrowing was left unchanged. and on top of that, china is also point to quick and spending on infrastructure project, which will also help to support the economy. so including this broad cut in mid july, the p o. c has now injected 600000000000 r and be worth of liquidity. however much more will be needed and is expected to come in the coming month unless china is willing to risk a hard landing goldman sachs expects further supportive policy measures including a larger amount of government bond issuance. a more supportive monetary policy stands with another cut and potentially some marginal evenings and regulation policies. but altogether, the big question right now is whether china can even afford the massive stimulus that helped to push the world out of a deflationary depression. in the aftermath of the lehman failure, china was the growth engine of the world 20 years ago, post the double digit growth despite the world back into action post crisis. but now it's getting more and more difficult as growth is slowing down for the foreseeable future. and now i want to move over to japan. second quarter growth outpaced expectations of less than one percent. which pans are recovery still,

lags way behind what we are seeing in china, or even the us, which saw growth of 6.5 percent in the 2nd quarter. the japanese economy minister said that he has very mixed feelings about this gdp result. adding the priority is to prevent the spread of the virus. it's very bad for the economy for the situation to continue to drag on. what factors are we looking at that are causing japan to struggle? when the 2 largest economies, there's no thriving, they still have their own issues, but they're making bigger leaps. yeah, thriving is definitely a bit of a stretch there, but i don't think any economy is driving right now. but to your point, japan's recovery has lag far behind china and the u. s. by quite a bit. but even pretty pandemic though. japan was already struggling with growth even with it's given its dwindling exports. so japan has been experiencing less global demand for its primary exports, which revolved around electronic equipment and car port parts. the japans g d p

growth in 2019 was only point 27 percent, while the u. s. and china were in the mid single digit. so it's not really that surprising that now it's recovery balance is also less than that of the u. s. and china, japanese manufacturers are falling behind because they rely heavily on foreign demand. and now with global inflation on commodities and raw material pricing, that is likely going to pressure demand even further. and on top of that, with cove it the slow roll out of its vaccination prod, program, and a series of emergency measures. they've hurt consumption. japan black, the roller is among the slowest for industrialized countries and tourism. that's also a huge part of the japanese economy. but now this industry has been hit very hard by the pandemic, as it keeps foreign investors for investors and visitors away. and you have to take a look at, you know, they had this gigantic tourist event in the olympics where they didn't allow any spectators to come. so that had to yeah, i mean, we're considering how much they definitely had to spend for that. now when we take

a look at this time is all back together. when we take a look at both nations here, how big of a factor are these rising cases? the, the very worldwide and could those continue to put pressure on those economy? it's interesting, it's kind of a big factor in different ways. china and japan, they've taken completely different approaches to cove it in the delta various. so china has a 0 tolerance policy which is among the strictest in the world. so as of august, china's current cove in 1900 outbreak would barely register as a blip for most countries with only a $125.00 cases. a 125 cases among as 1400000000 people. but since that number has risen sharply since the middle of july, china, back to no tolerance policies in locking down city. and by that i mean they're ceiling off, entire areas enforcing mandatory testing of tens of millions of people. they banned people for being infected cities, canceling flight trains, and shutting down tor sites. and these methods would, they would never work in the what, but arguably, it has been quite effective as china for

a few months has entirely eradicated the virus in the country with daily life returning back to normal. but japan, on the other hand, the delta vary is spreading quickly, especially post olympics cumulative cases have now top 1000000 and the situation is worsening. and a state of emergency has been issued. but unlike china, they've actually never locked down. this is a complete opposite. japan has never had an official locked down, but the government had repeatedly declared a state of emergency for some areas that revolve around eateries and bars. clothing early are not serving alcohol. japan's measures mostly rely on cooperative public and not a hard locked down, but these have had little effect and slowing down the infection rate. but definitely to very, very important academy is that we will continue to keep an eye on boom. but it's christie. i thank you so much. thank you. and just 2 weeks before the u. s. was set to finally complete its troop withdrawal from afghanistan after nearly 20 years of war, the taliban has seized the power in the nation. the taliban moved throughout the

country, capturing all major cities in just a few days, capturing the capital city of bull. on sunday, the afghan president, osh wrap county fled the country that evening in an attempt to avoid further bloodshed, according to the russian embassy and couple which is one of the few embassies that chose to remain god. he fled with 4 cars full of money and hopped aboard a waiting help, a helicopter, allegedly, with so much cash that he had to dump some onto the tarmac due to wait constraints . the latest conflict has caused hundreds of thousands of people to flee their homes with many attempting to flee the country. us president joe bible returned to the white house from camp david to address the situation monday afternoon, saying that he stands by the decision and that the us did not enter the nation to nation build, but rather to prevent another terrorist attack, automatic and soil. and as we look at this massive news, the question becomes, how are investors reacting well for more on that, let's bring in

a hobby mirandi who ceo of optimist. l. l c. octavio we're seeing global markets retreat for the most part on monday. either the down at the p were actually able to come up pretty much even is the situation to f dentistry and having any major impact or is this more about that growth that we just talked about with christy? well, i think i scanned that as a whole, if it's in be too small economy to have a big impact on global market. so unfortunately it's a, it's a very, very poor country and where it goes doesn't really match that much for the local markets of cost regionally that might be seen as a big catastrophe. i think the chinese data is much more important. but as you point out, the s and p 500 is back in positive territory. so those are very temporary thing. the voltage we've seen over the course the past day has been quite modest in line with what you see in a day to day basis. so it looks like all these things were bit of a yawn for the, for the market. so overall, i'm will say about china. the news coming from china is not every poll stick we sold is very, very heavy floods in have a proven seems that only bad news comes out over the course the past year or so.

and that is concerning because there is a major agricultural center and it's a major center for primary materials and metals and minerals and things about source. so that has more impact potential there. and that's kind of song. but i think the general consensus is going to take care of it fairly quickly. these floods are not a permanent fixture in who they province, that there's going to be a temper thing and it will come back to normal quite quickly. and i, i mean, is there any economic impact we're seeing is just go back to the afghanistan issue that we're seeing from the more than 2 trillion dollars spent on that conflict that started nearly 2 decades ago. i mean, does that give us a long lasting effect or did we already kind of felt that pain and now we're just happy to supposedly have it over with i think that pain is low in the past. have enough money that was out the door some time ago. it's what accountants refer to as a some cost meaning you spend the money was in the past, it would be very different if the us were being presented to bill. now for 2 trillion that was not expected and say you left half kind of thumbnail to pay $2.00

trillion dollars that would have a severe impact. but the fact that this was split out over 20 years and is in the past, i think was 40 fully priced into the market. and it's not really driving things at this stage. i want to take a look at the broader economic policy here in the us and their recovery. there's growing conversation that the federal reserve could begin to taper its monthly purchases of $80000000000.00 in treasury securities and $40000000000.00 and mortgage backed securities. as early as september, well ending the asset purchases by mid 2022. now we know that officials have continually said they want to end bond purchase before they start raising interest rates from the near 0 that we're at currently. do you actually see this happening? and if they do make that move, well, this actually help address all the issues that we're seeing right now in the economy with inflation. well, certainly, if the fed does decisively increase interest rates and rushed up interest rates that will have a damping effect on inflation. we'll keep it under control, but they might have to take some severe action to make that happen. and in the

process of crash, the equity markets, the run, the risk of crushing the housing market and the bond markets all this in the same time. so the real question is, is it politically worth it for the fed to do that? and i think will only do that when inflation really becomes a painful thing politically. and they get false into doing it. they don't want to crash the market without a very strong reason to do so. i think they'll hold back on that and won't do that . and i fabio, is that crashing the market? is that solely based on the speculative nature of the stock market? and the fact that really all these wall street is they love the free money that they're getting from the fed. it doesn't really a 100 percent change the way they're making money. is that what this is all about? why i think it does change. we're making money, bear in mind the fed, when they want to inject money into, into the money supply, they go out and buy balls and so that drive the price of bonds up. if they stop doing that, the price bonds will come down and that will have a negative impact there. a lot of the money that they use the print up to actually

buy those bones, find its way into the equity markets quite quickly as well. so the, the fed buying bond has a very beneficial impact on the market and it's quite mechanical, it pulls into that quite directly. their mother also buying a lot of mortgage backed securities. so a lot of money fade is printing is also being put into the housing market. so if they type it back then purchase as a mortgage backed securities, they run the risk of the crash in the housing market and this politically very difficult for them to survive. i think very difficult for them to, to get a handle on. so i think they'll be very relaxing about raising interest rates, and they'd rather just talk about the foreseeable future. i would have said a different thing you 2 weeks ago, you know, and so the person at the jackson a whole meeting later on this month. and now some sort of tapering now with a delta 1000000 taking off the pre found an excuse to carry on having a very loose monetary policy. so i think they'll grab that, excuse me, one with y, i just say, i guess i look at it and i say, yeah, ok, i understand what you're saying. it does affect the money there. but the reality is, you've also had, you know, 2 years, almost of all this free money from the fad. so shouldn't that be enough?

i have 30 seconds. i'll give you the final word on that. it should be enough. you know, i don't, i don't know exactly what the end game is. it looks to me like the books themselves into a corner is going to be very tough to get out of. so i'm looking for them to sort of pull a rabbit up perhaps, and some of the magic trick to make this will go away and make this better. but i think it's, it's they, they're in a bind, they, they run the risk across the market or having high inflation. and that is the balance of the risk. so i want to see how they get themselves out of this. and we'll certainly have more on this as the week goes on is going to see some minutes from last month meeting our coffee, moran, the ceo of optimist. l l. c. thanks so much for your health today. thank you. and time now for a quick break, but when we come back, we take you back to the airline industry, where the delta variant of cobra 19 is raising volatility in the sector. we have an expert on hand to bring us this data flight. that's going to break here, the numbers of the quote, 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, accept where's the shorter? in that conflict with the 1st law show your identification, we should be very careful about artificial intelligence. at the point obviously is too great truck rather than fear i would take on various jobs with artificial intelligence, real summoning the theme in a robot must protect its own existence, was rather

driven by shape in me. i think we dare to ask i painted upside of the pandemic kenya's experiencing. and elephant baby boom. 200. why this? can you have so many cars? and how has the pandemic impacted people's lives? is andree role is a fairly big along in any fact he end up killing himself. i

don't live on a lease and then you go buy a car. well, and i will make the little was i didn't mean that you can leave it. they get lucky to in the mean thing in it because neither of the one who did the they didn't even notice whether they call to do there's no local but i know the company just wasn't aware that whatever it is you know mr. moseley was when you said that,

could you do a google search of you to do i'm going to show you where you didn't know if you didn't. if that's what you will cover the 1st little i don't know if they use them in order to follow some you see my son in law, nobody me and he's a sucker and you say, you know get forgotten phyllis me personally. hon. ah

ah ah welcome back. the mobile is reportedly investigating a data breach involving as many as 100000000000 customers, the hacker allegedly still information including names, social security numbers and addresses. meanwhile, the culprit is seeking a ransom for the data to be paid in crypto currency r t. trinity chavez has more of the story today. popular mobile company,

t mobile investigating claims that the personal data of up to a 100000000 of its users has been breached. according to vices motherboard. a hacker on an online forum is claiming to be selling private data, which includes social security numbers, phone numbers, names, addresses, and drivers license numbers. and while the foreign post itself didn't specifically mentioned t mobile, the seller told motherboard the data they obtained came from t mobile servers, the anonymous seller, reportedly seeking 6 bitcoin or $270000.00 for about 30000000 of those accounts. with the rest supposedly being sold through private channels, t mobile set in the statement, we are aware of names made in an underground forum and we have been actively investigating their validity. we do not have any additional information to share at this time. t mobile has reported a number of serious data breaches in recent years. in fact, the company has reported a data breach every year since 2018. and if this data breach is confirmed, it could affect nearly every

t mobile customer in the us because it's 2nd quarter earnings report last month. that telecom giant reported a 104000000 u. s. customers. and at a time of widespread digital insecurity in the united states, experts that the national security agencies say that consistently rebooting your phone simply turning it off and then back on again oftentimes towards hackers. and they also recommend uninstalling applications on your devices. if you weren't using them, because by doing that, you keep your attack service more bounded. trinity chavez, r t. and as we get it to the end of the summer travel season, we wanted to take a look at how the industry is bearing while bookings are up from where they were last year. one airline is saying a recent surgeon cove case is related to the delta variant is hurting the bottom line south west airlines will said last week that while demand over the upcoming labor day weekend remain strong, a slow down in business due to concerns about increased cases of the cro virus will make it hard for the company to turn a profit in the 3rd quarter of this year. the cancellation of festivals and trade

shows and recent weeks has weighed on travel along with new restrictions to deal with rising numbers of cases in many major cities. many us carriers have also dealt with staff shortages and longer timeframes for repairs, which along with weather events have caused them to delay or even cancel flight. so let's go ahead and take a look at the state of travel with jerry left, the author from view from the wing carry always a pleasure to have you on the show. we really appreciate it. what is the state of air travel demand as we think consumers become more and more cautious with new cases of the delta, various air travel demand is basically flat, which is to say that it's still down a little bit more than 20 percent compared to prevent damage but at it settled down at much higher levels than we've seen, you know, at any time over the last 17 months. so it is strong and much recovered. but that recovery has ro rather stalled out. and now airlines got a pretty big bailout to deal with the follow from the pandemic last year with the

rise in cases of the delta vary. are they going to be able to weather the storm? so at this point, absolutely, with the asterisk that everything in the pandemic has certainly been unpredictable . so we can't, you know, we can, we can't rule out truly long tail events. it's likely that many of the airlines would have survived without going through chapter 11, bankruptcy even without at least a 2nd. and 3rd of my bill, i've certainly $79000000000.00 and appropriations wasn't necessary to keep the planes flying in the u. s. and all of the major carriers other southwest have been to the courthouse steps if not once and sometimes cases 2 and 3 times. so they've all have experience playing through bankruptcy. we're not likely to see that at this point without the bailouts. we probably would have seen american airlines in bankruptcy instead at the end of the 2nd quarter. they had about $21000000000.00 in

liquidity, which positions them incredibly well to survive for quite some time. but you know, like some of the others, they have tremendous debt burden, which is going to have to be repaid over time, as well as very high costs compared to competitors. and so the airlines are an out of the woods, but it's not likely that they, well, it wouldn't be beyond the pill to expect them to go back to congress for a 4th pilot. the apple. there's really no reason why they repeat it. it's up less also said business travel in september is expected to remain down 50 percent from pre pandemic levels, but better than the 69 percent drop in june. how concerning is the state of business travel for the entire industry? when a lot of people maybe realize, hey, you don't have to go back and forth so much when we can do things, you know, by teleconference or so on. i mean the fall is always going to be a little bit challenging for the airlines because post labor day end of summer with kids back in school. in many cases we're going to see leisure travel drying up. but

business travel not quite recovering, as we would only start to see for many large businesses to return to office that is being put off somewhat. and so normally in the all business travel is that back though, that replaces leisure. it was going to be slow, it's going to be slower than before. that's a big deal for airlines, because while it's fewer travelers then we'll see, leave the skies. and we're already seeing airlines adjust their schedules as a result, often pulling back somewhat. those passengers tend to pay more, their higher yield customers who are price insensitive looking more for schedule and those passengers aren't going to be back as quickly. we're going to, it's going to be longer before we see, you know, large events, large indoor events, conventions returning and you really can't do business to office until offices are completely open and people are back in the office at full, at full speed. we are going to see some business travel,

especially we're seeing some among small and medium sized enterprises. but until that we get that return to office. we're certainly not seeing companies imposing business travel to a large extent on their, on their employees. and gary, i know that you've been traveling quite a bit here and there, it's your job. that's what you do. not only do you have to travel around for that job, but you also have to write about it so much. so i have about 30 seconds left here, but what's the sentiment from the consumers that you were seeing out there? is it as busy and airports are, are plain feeling safe? what do you think in their? well, it certainly has been incredibly busy, and it's been very difficult and frustrating as airports aren't fully back to capacity offering services. as many vendors, restaurants in airports aren't fully staffed and so it's difficult to get everything that you need with lots of longer lines. are there been lots of cancellations the summer and that's frustrating, difficult to get through to airlines difficult to get customer service when you needed. if i could leave folks with one tips. if you can't get through to you or line, try one of their, our call centers. those usually don't have the same one. hold times that the u. s.

phone lines do. and i know there are probably a lot of folks who made that airline status back in 2019. but unfortunately the pandemic, it's probably wait on that. you're not getting that back unless you get into the friendly skies. maybe 2020 to gary. laugh author a view from the wing. thank you so much. thank you. and that's it for the time you can catch boom bus down to man on the portable tv app available on smartphones and tablets. you google play and the apple app store by searching portable tv, portable tv can also be downloaded on newer model. samsung, smart tv and roku devices, or you can just check it out at portable dot tv. well see you next time on boone by me. ah, ah,

my recent studies 90 percent of all the my print thing for all the different programs never leaves wall street. right, so it just stays on wall street till saying here's an infrastructure bell road tunnels bridge is and they the 2000 paid bill. they numerate all the things where this one is supposed to go, and then they pass the bell. then they authorize the money to be printed and then they sent it for distribution to wall street races on that very clearly in the money philosophy chart, which is always going towards europe. they never goes anywhere. assisted on wall street balance sheet and they use it to buy expensive property. and that's been the story now for more than 20 years. ah ah

ah ah, i use long long when i would show the same wrong when i was just don't the room. yes, to see out the thing because the attitude and engagement was betrayal. when so many find themselves worlds apart, we choose to look for common ground in

the world. the chaos. the confusion of i've got a couple airport as the us pulls out his remaining staff and glorified video show crowds running across the field in a desperate fade to cling onto the us military plane and get out of the country. at least 7 people are reportedly been killed and our mission and dentist there was never supposed to been nation building provide and has given his speech, since it's about to take over left america's international reputation and taxes. however, some remarks raised eyebrows efforts to blame the afghan government seemingly contradicting previous statements.