the job with the ladies magical in this place. to me personally, is that you exist within one dimension with the world around the social human case . time with the rhythm of all the people who are close ones friends relative to scaffolding different well, unless in this way you're in one dimension that you're paying for some time. one can look, we live on the right or wrong, please. ah,

he rushed gun reporting for our teeth from the north pole. wasn't a venture that was that ship actually built in 2000 sentences very modern day. we'll see more of it. go to our youtube channel for about 31 minutes past the hour . thanks for watching artsy international the me this is boom, but the one business show you care for them in i'm branch bore and i'm ready to a lot of in washington coming after us. the economy is continuing to recovery as a weekly jobless claim count has his lowest level since the early days is at hand.

straight ahead, we'll discuss the numbers and the state of inflation in the country. later, we take you to the airline industry. southwest airlines pilots have filed suit against the carrier, will dig into the development and the state of a be a regulation with the facts. so today was dive right in the and we leave the program with weekly jobless claims falling to the lowest level to the onset of the cobra. 1900 pandemic in march of 2020 no initial job with claims fell 234000 or 334-0004 the week ending on the 28th of august, the us labor department reported thursday. the decline and claims comes amid the so called workers shortage in the country,

which i record number of job openings earlier in august. despite arise in cases of the delta, various of cope 19 lay off in the nation to have also fall into their lowest level since june of $997.00. even with this positive employment data on lookers worry that the recovery in the world's number one economy may be cooling as the federal reserve easy monetary policy and rising inflation continue to be in focus. now for more on the state of re, let's bring in peter shift cheap economist and global strategies at euro pacific capital. always a pleasure to have you on peter. i want to start with this latest jobs data that we hear about new job with claims falling to pandemic era. lowe's. while we are facing record job openings, what is this telling us about the state of the recovery and the job market? well, 1st of all, i don't think the com is recovered from anything i think is still very sick and having nothing to do with coven, i think all that happened is the government printed a bunch of money,

or the fed printed the money and the government mailed out the checks and everybody went on the spending binge and so all of that temporarily boosted the g d p numbers . but it's also the reason the prices have gone way up. it's the inflation that the federal reserve has created. and you know, these unemployment numbers, i mean, we're still getting a lot of claims. they're just not as high as they used to be. and a lot of people just don't want to work any more than the government is made people a better deal. a lot of people find it's more lucrative to take a vacation than the show up for work. now on friday we will see jobs data for the entire month of august the last, before the 1st, next policy meeting. and one of the points we have heard from j. powell over and over again is the need to get employment stable before they can pull back on the easy monetary policy. now we know you are a fan of this policy, but when we're seeing the best numbers in the pandemic era, is it time to start that paper? what say you? well, if that is just making up excuses because it knows the only foundation is bubble,

economy has, is the feds easy money policies? i don't think they have any actual plans to taper. and even if they just kind of feign the process by beginning it, they'll never completed because soon after they start the taper again, if they even ever start, they're going to have to reverse the process. because ultimately the fed is going to expand the q e program and start to buy a lot more government treasury. is it more back securities in the future than it's doing right now? and peter, you know, i know this is something we've talked about quite a bit on the show when we talk about the feds policy. and i don't think we've talked about it with you. but it seemed also that the fed has had this whole thing of, of course they're saying that propping up the academy more, more importantly, they're saying when it comes to raising interest rates. when pulling back that q, we, you know, it could cause a market crash, which is, you know, at or near record highs right now. all 3 major agencies in the united states. but, but in reality, that's not their responsibility, correct? well technically no,

but member these guys think that the economy lives or dies by the market. remember their whole goal. busy in q e g was to create a wealth effect, they thought of, they could make the stock market go up, we'd all feel wealthier and then somehow we'd spend more money. and so they're kind of wedded to this philosophy. so whenever the stock market starts to go down, they start to feel fear or reverse. well, the fact, and so they start pretty mighty, but it's not just the stock market that they're propping up. it's this whole bubble economy that they're filling up with air. but by doing this, they're actually undermining legitimate economic growth and they're making everybody poor. well and peter, you know you have to wonder dan cohen, the fed, former vice chair, a financial supervision. he warned the possibility of another financial crisis during last week's jackson hole symposium, pointing to the owner, billy's asset values have hit record high. the government and private debt have reached near record. hi. so how close are we when we look at all of this to that bubble bursting, as you say, well, if the fed did the right thing,

we would absolutely have a financial crisis. in fact, it would be worse than the one we had in 2008. that's why the fed is not going to do the right thing. that's why they keep kicking it can down the road because they want to delay that crisis as long as possible. but the longer they delay it, the worst is going to be, because the only way to delay it is to make the bubble bigger. and the bigger the bubble is the worst to fall out. when it pops. you gotta keep taking that can down the road and hope that somebody else, some other administration will have to deal with it eventually. now we can have you on without of course, talking about gold. and we know that inflation in germany had a 13 year high in august. and as it has been facing, rising inflation demand for physical gold and germany increase to the highest level since at least 2009. what do you make of this, and are we seeing an increase in demand for gold elsewhere as an inflation hedge? well, absolutely, there's a lot more inflation to hedge and people should be a lot more fearful about it now than they have been in the past. and, you know,

the germans are particularly sensitive to this issue having, you know, live through some of them. why am our republic, but certainly it's fresh in their minds in america. we think about the great depression. they think about the great hyper inflation over their germany. so if they start to with the sense of inflation, they're going to be quicker to react to it. but you know, inflation is going to be a problem worldwide. central banks around the world are printing too much money. they're keeping interest rates artificially low. so inflation is a worldwide problem, but it's going to be particularly acute here in the united states, we're creating more inflation than most. and we are more dependent than any other country on the value of our courtesy to fund our imports because we can't produce the goods that we consume. and so we have to trade the money that we print for the stop everybody else makes. and so as the value of our money is going down, we're going to really feel the pain of inflation to a much greater degree as the dollar falls and the cost of those imports go through

the roof. you know, and peter, if you're right about all this, it's going to be a wonder if central banks will continue to do the same policy over and over and over again. peter chip, chief economists global stratus with euro pacific capital, always appreciate avenue on thanks rob me. google is once again in the cross hairs of the u. s. department of justice who is now reportedly preparing a 2nd lawsuit against parent company alphabet. this time the d o j is taking aim at google's ad tech business claim as a company is creating anti competitive environment. according to reports, the justice department has accelerated its investigation of google digital advertising practices and may file a lawsuit. as soon as the end of the year, this as bows, google and apple are coming under increasing fire around the world for their app store dominance. joining us now to break this down as shanda messaging of journalists been swan now been let's start with this new lawsuit on its way from

the d o j. what do we expect it to cover? yeah, we're not exactly sure what it's going to cover other than the fact that in general, as you just laid out, it's going to cover google's ad practices and what it's been up to. now there's a couple of things that we can take from what's already happened in the last few months to kind of gain some insight into that. as you know, it started under the trumpet ministration. under attorney general bill bar, there was a lawsuit filed by the d o j against google over its ad practices, essentially saying it was anti competitive. but what that did not match up with was the list of lawsuits that came from state attorneys general, in which a number of states attorneys general file lawsuit against google. because they said they worked a secret deal with facebook that allowed them to really not compete with each other that they were paying facebook to not take away a lot of their ad market and ad share. and facebook stayed on the sidelines more because of money being paid by google. so google could dominate that area in terms of the previous lawsuit by the d o. j that was over the search engine and search

results. so this lawsuit what we don't know exactly what it may include, or if it even gets filed, may include more about that relationship with facebook and partners like apple. google has paid those companies in order to protect them and give them search dominance, as well as ad market dom somehow that seems even worse than just regular monopolistic practices to pay off your competitors. now google's also appealing that record setting $591000000.00 fine. impose by francis anti trust watchdog in july over a dispute with local media about paying for news content. why is google, why is google claiming the find is unfair? yeah, they say it's unfair because they say they have been working with these different news media outlets across france and they've been doing their best to include them and create a new system that's more transparent and therefore they shouldn't have to pay $591000000.00, right. of course, anyone's going to say that the interesting thing about the find is that in france,

you know, in the here in the u. s. u appeal, something you can pretty much stay it forever. that doesn't work that way in the when it doesn't work that way in france, france is fine, essentially means that even while the appeal process is going on, google has to start paying. they can't wait to pay until the appeal process of finish. so even though they're appealing that could take years, according to francis court system, and they're saying start paying the fine. and we'll see if we ever get around to the appeal. but i want to, i want to comment something you just pointed out. britain, which i think it is significant, which is you said it's almost worst of these companies work together. i think it is worse because what it tells you is it isn't just anti competitive practices. that big tech has almost reached a point where there are a few companies who are all carved out there, nice and together collectively they're working together to hold the market kind of at hostage. so you have google and facebook. you have amazon, you have twitter, right. and it just a few companies that control so much of the marketplace, but they all have their own respective place. and it's very showing them the effect

it has for competition. yeah, it's like another form of the mob that we were referencing earlier this week. i know for you guys, switching gears to apple here it is been hit with an antitrust suit in india, which accuses the company of abusing as dominant position in the smartphone apps business by essentially forcing out developers to pay a commission on all in app transactions. so how is this different from similar cases we are seeing in europe and asia right now? it's not, it's the exact same thing. india is essentially looking at it and saying the same thing that the you were saying that south korea we talked about earlier this week. you know, south korea has a new law that they're going to pass. it looks like it's going to pass there, which essentially says that if you are apple or google, you can't put these fees on everyone and block out alternative payment options and alternative systems on your platform. because they're saying it's being abused. and here's how it's being abused. so spotify, for instance, says that they've been abused by apple, because apple runs these fees a $15.00 to $30.00, you know, 30 percent up charges on the cost of their music. but apple doesn't apply that same

charge to with apple music service. so they for spotify to be more expensive than their own product, and that is anti competitive. wow. and will certainly be interesting to see where these cases go, and if it changes any of the practices that we're seeing right now, boom bus bend, swan thank you for insight. thank you. the time now for a quick break, but when we come back, we take you to disguise as the labor union of southwest pilots has sued the airlines. and we'll take a look at the state of the 737. max is another nation, has approved the use, and it's gonna break here the number that the quote, the me

who want to make note board is under blind to number, please emerge . we don't have authority. we don't actually, the whole world needs to take action and be ready. people are judge governors crisis what we can do better, we should be better. everyone is contributing each in their own way. but we also know that this crisis will not go on forever. the challenges to response has been massive. so many good people are helping us. it makes us feel very proud that we need together in

the welcome back. the union representing southwest airlines. pilots has filed a lawsuit challenging how the carrier handled the cobra. 1900 pandemic. the southwest airline pilots association filed the complaint in a federal court in dallas earlier this week, alleging the company implemented an emergency time off program change schedules and altered health care and retirement benefits without collectively bargaining the move. the claims would constitute a violation of federal labor law. southwest and its staff have been at odds in recent months as the union threatened to hit the picket live during the winter holiday season. a time of increase travel to protest working conditions in response to the suit, the carrier vice president of labor relations russell mccraney issued a statement saying the company disagrees that change. the changes required

negotiation, but claim southwest would continue to work with the union to navigate the quote challenges presented by the pandemic. joining us now to disgust is captain dennis pedro communications committee chairman of the allied pilots association. cavities, you're always a pleasure to have you on about these important issues. now, breakdown these complaints here, when it comes to dealing with a global health crisis, like the over $900.00 pandemic, does the airlines still need to negotiate policy with the union? lastly and just to be clear, represent the american airlines, but we're having the same issues in american airlines. so sure they negotiate with the union. but the most important thing is, is that the management team, it appears itself based on their operational performance and at american airlines. airline i work for, they were not prepared for this massive, quick recovery after the pandemic. so for them to just say

that, well, it's, it's recovery the pandemic you can't use as an excuse. and this is not just about maintaining a contract to maintain the certainty of your operation. when you just start making things up in an airline operation is symphony and your, your head and up is, is when there should be violence. you're going to hear it. you're going to see it so it's happening in south west. it's happening it. american management was not prepared. the pilots were and now they're using the excuse that they're just going to do a few things that are outside the bounds of the contract. so it's really more of a fundamental argument that seems to be happening. certainly as south west it is happening in american airlines, where we're just saying we're run a good operation and not throw away all the rule books to make that happen. yeah, that's a good way to put it. and now when we're talking about preparation here, you know, we're talking about southwest specifically. they seem to be at the center of a lot of the issues with delays and staffing. but we have to remember, they did take $3200000000.00 for the federal government as part of the care act

last year. i mean, shouldn't that have helped to avoid some of the problems they are facing right now? that's a great point. i'd say american airlines even more investment to keep people like my self employed and ready to floss and congress. the senate commerce science and transportation committee led by chairperson sen can't well is asking the same question. you're asking, why aren't you prepared? why did you sell tickets? for flights that you did not have the proper manny, the pilot staff ready to roll. so you have 2 airlines in the headlines. frequently we're a little bit of weather happens and the system collapses and thousands of people are impacted by cancel place. and you have hundreds of pilots saying i want to fly, connect me to the airport, but they're only able to do that. and it would, it seems to be itself was management is using some, a symmetric room. and then nobody knows what's going on. and we're seeing the same

thing at american airlines, and it should the summer is winding down, but we have the winter traveler season coming up and you're talking about quite a lot of airplane. so we more into this in the early spring in american airlines. it didn't look like they had it covers and unfortunately our forecast came through saw thousands of like hundreds of plates twice over the summer cancelled because they didn't have enough particularly pilots we had on file so they couldn't connect them to the airplane. ultimately, our passengers suffered and quite frankly, investor suffered because the airline space doesn't perform as well. you know, cost a lot more to run a poor operation and i kept stage it before we go. i have about 30 seconds left here in the segment, but the carrier is also committed to running fewer flights through the end of the year, due to this to alleviate the issues. but as you said, that the busy travel season is that the right move, that's surrender, and we're competitors. we want our management team supply as many airplanes as

possible. so doing that is moralizing, and it tells me that you've gone outside of your skill set. we want to help, we want to make those flights happen, but please work with us. instead of just making things up as you go along, you're likely to just repeat the same behavior and get the same results cap and dennis page. i love that attitude. we are competitors of the allied pilots association. thank you so much for your insight today. thank you. meanwhile, the battle between boeing and airbus continues as travel rebounds in europe, an air bus winds over a wild, boeing customer, the british leisure airline jet to confirmed it, has signed on to order. $36.00, a $321.00 neo jets with the option to add $24.00 more. the deal is worth $4900000000.00 and it marks jet tooth 1st purchase from air bus. the decades old rivalry has recently been centered around each company's narrow body aircraft. the

boeing 737 mac saw behind after it was grounded for nearly 2 years following to deadly crashes. meanwhile, the air bus, a $320.00 families built up as a backlog and went on to gain 65 percent of the narrow body orders. but as boeing fully out of the woods where regulators are concerned with joining us now to this guy. as be official, jamie finch gave me, it's great to have you on the show today for now. when it comes to the boeing $737.00 max, we know that is cleared here in the united states. but for the company as a whole, are they likely to remain under a spotlight we're regulators are concerned just moving forward. what we're seeing right now is absolutely, we're right at the tip of the iceberg of what the investigation is going to be like . a gun some investigation, but calgary has already mandated that f a conduct a, a corporate culture study of all of boeing because of all the, the reports about bullying and other things that have been going on and hiding things that they are. they've been mandated by congress to actually put together

this study, so we'll see that. so we're just at the very beginning of this. and rachel just mentioned here in the intro about how air bus has actually been able to make up quite a bit of market share. against boeing as boeing was the you know, the number one play maker in the world, but the question becomes, is air buzz safe or do we know that? are they going to face increase scrutiny after everything that's happened as well? father, i think alden, we're going facebook increased scrutiny right now. i know from my conversations with representative some air bus. when all of this was going on with boeing, the corporate, the ceo of air bus told, drew out the company said, you're not to say anything. a negatively about boeing, you're not because they're for the, for the grace of god. go watch. i mean, so, so they've been very, very careful and making sure that they haven't been outwardly pointing fingers or making fun of boeing because it could be them next. so i think that we'll see more and more people watching them. people are going to be making sure that there's other that are the rules and regulations and safety standards are being followed.

but they are not going to be under the same scrutiny as boeing. it because boeing has been its own worst enemy, it keeps things just keep rolling out that day. almost like every week, sometimes daily. the things are coming out about boeing that they've done that failed on safety, on bullying within their employees. all kinds of factors that have been just really ruined hartner reputation and jamie, is that a corporate culture issue, or is it just the snowball effect of one thing goes bad and other thing goes bad? no, it's pretty. starts with the top, and this has been something has been going on for a while. boeing's shifted a few years ago, back in the mid ninety's. i was a, when boeing acquire, merged with mcdonald, douglas falling had always been known as a engineering company company, an actual incident and ingenuity and, and really forward thinking. mcdonald douglas was based on bottom line. that's where they were a very, very accounted count base and bottom line,

profit driven company. they are unfortunately boeing took on the mcdonald douglas, in my opinion, to go to mcdonald douglas culture. and now they've gone from a culture of excellence to a company that of, of people they put profit above people. now when it comes to regulators standpoint, or they seen the changes so far with boeing that they want to see or does the companies still have a long way to go? cuz like you said, it seems to be one thing after another. we all know, i mean, we are, we're, we're still trying to dig through the, the mess if you will, to find out where we are. i mean, so it's going to take a while that's, that's what so frustrating for people. and especially in this world where people want answers very quickly and we just don't have those answers in these investigations, are going to take a while and you know, fingers crossed and knock on wood. no one gets hurt, injured or killed in between the beginning of the study and the conclusion. and we know, of course, if there really is a lot of money, it's daycare and commercial agents and billions of dollars. oh yes. especially when

it comes to those fights between boeing and airbus. it is, and it's not just a money issue it's, it's a national pride issue. boeing is the number one export in the united states. i mean, we and they, it's not just knowing it's all the parts and pieces that go into these planes and, and of the, the services that are around those airports around those manufacturing plants. all of those things tied together, it reaches bar into our economy and j b a, you know, i want to talk on one more thing that regulators have been looking at. you know, we've seen kind of an unruly passenger situation, a mid flight. what can regulators do about that? and i apologize to give you a time limit. we do have about 30 seconds. this is, this is easy. hazard. federal law says that you cannot, you cannot interfere with a crew. you cannot threaten a crew if you do so. there are fines and, and imprisonment that you will have at this at this time. boeing. i mean f a is

enforcing i 100 percent policy. all enforcement, they are not 0 charge. i'm sorry, 0 tolerance policy. and so if there's anyone that acts up, you're going to get buying. definitely. and you could be go into prison because you're putting, you're putting everyone's life and in danger. when you do something like that, it's not, it's not just you actually up and you're going to have to wear the mass where you got to leave it right there. jamie finish. thank you so much for your time. thank you. and that this time you can catch boom bus on demand on portable tv could be found at portable tv dot com on the apple app store and google apps or google play store as well. see you next sent me ah, psychiatric drugs are essential for millions of patients or are they,

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