designing over reports of ethics violation, but it doesn't stop. there will tell you why more than 130 judges are being called out for presiding over cases where there was a clear conflict of interest. we have a pack show today for di, right in we lead the program with another route to global supply chain, which of already been heavily impacted by economic locked downs and the cobra. 1900 pandemic now. and energy crunch in china is creating a new set of issues for global supply government efforts to curve energy consumption and reduce carbon emissions. along with surgeon coal prices are leading to power outages across many of china's manufacturing hub. these outages could further disrupt the supply chain for some mind conductors which of already face george's worldwide, along with other vital goods as winter is fast approaching. so what will the supply chain shortages mean for the global economy all around will? joining us, not just boom dot co host, chris b, i and ben swan. christy,

let's start with you here. so what is happening in china with his energy crunch as blackouts are being reported in multiple provinces right now? yeah, so the power cuts are caused by basically power rushing during peak hours and the regimes actually began on thursday, mid call shortages and took place without any sort of advanced warning. then this has shut down traffic light and 3 g mobile phone coverages in many areas. and the problem is spreading from home to the factories as well. how to productions of all goods from high tech electronics to send these to toys in clothing. so even apple are using micro said factories into regions were told to stop production for a few days. total was also told to help the action to sneak and goldman facts estimate that as much as 44 percent of china's industrial activity has been affected by the latest power shortage. and since nearly 60 percent of the chinese economy is powered by coal and electricity content, he can hold all these cold replies due to that make the trade stillia call

shortages coupled with toughening greenhouse gas emission standards on demand from industry has now pushed coal prices to record high to china, and meanwhile, electricity prices their captain, china just like europe. so a rising input, prices are fixed output prices, turn utility and electricity production into a loss making, venture, forcing a lot of closures. and now ben christie just alluded it to it. but how are these shortages exactly impacting the already devastated semiconductor industry as we face the global shortage of those crucial chips? yeah, it is a global shortage right now. and obviously china kind of leads the way in terms of having access to them. but there are at least 10 companies in a city near shanghai that have notified you know, companies out of taiwan that they are shutting down. as you mentioned, they're not going to be producing for a couple of weeks. and that can have a huge impact. the apple has been already impacted circuit board makers are being

impacted. remember when we talk about semi conductor chips, it's more than just cell phone, it's more than iphones and we're talking about all consumer electronics are being affected by this and you guys led up to it in the lead up here. you mentioned about we're coming up on the christmas holiday shopping season, right. that's what consumer electronics are selling that their highest and so you're going to have delays at least for the next few weeks and a lot of these. and if not even longer than that, that coupled with the fact that we have all the ships sitting outside of ports around the united states right now, not allowed to come in and bring products in. so there's already a backup of products. this is a huge mess, and it seems like it's only get worse over the next couple of months. and it seems like, you know, we knew that we would see supply chain constraints. you know, as the coven 19 pandemic kind of ramped down, if you will. but the fact is, i don't think anybody anticipated it was going to be this long, and then they were going to be so many factors that we put on top of that. so chris, on the note that ben was just talking out about beyond semiconductors,

this year instruction comes, it's producers and shippers race to meet demand for everything from clothing, toys for that year, and holiday shopping season. what kind of impacts might we actually see here? we're going to basic economics are play essentially short supply and high demand. it's going to mean that consumers are going to be the ones suffering as they're going to the higher prices for basically everything is holiday season from home goods and paper towel, decorations, clothes and toys. especially if we had into this year and shopping season, which traditionally has been the santo rally for a lot of these companies, the retail estimate. they make up a big bulk of their sales at the end of the year. and they can do that, all their products are either at the port in china or sitting on a barge in the middle of the sea. so we might even see some shorter just to across some items like apple, if they've been forced to shut down production for a period of time. and this is again, hurting manufacturers after having to deal with the closure during the and then next. and now they have to deal with be forced, again,

due to electricity rationing and energy pipe. so these power shortages will inevitably impactful, heavy industries such as aluminum steel right through to downstream sectors such as construction farming, agriculture. and no one really knows when the supply chain ball will be overcome. but it's looking quite on this for this winter. yeah, that question of one will it and seems to be all around now been another aspect here is that we know that china as an energy consumer continues to impact other economies as well. the ceo of gas from says that chinese get the chinese gas demand rather in particular, is increasing quickly, noting that in the 1st half of the year, the volume of gaskins sumption in china increased by 15.5 percent. so what does this mean for european countries that depend on russian natural gas? yeah, well, you're paying countries right now, are complaining that they have a natural gas shortage right now. and they're actually blaming russia and gas from, from the fact that they say they don't have enough right now. right. but yeah,

from c e o is saying is actually you do, and we're under no obligation to, to provide any more natural gas than what our contract require us to do. right. and so right now there's a complaint coming from these european countries, one investigation saying, oh, you're holding back some of the supply and that's causing the price to go up. but the see i will get from also pointed out that china is a major player right now with a huge appetite for natural gas. and so they see that as a huge market to move into totally makes sense. it is interesting though, how all the talk out of germany in the united states about how, oh russia, they're going to use gas as a weapon. they're going to hurt you with it. you shouldn't do business with them. and now they're begging the russians for more. right, you can't get enough and so you need more. and so it's, i think it's kind of part of the course. i don't think that's anything to be unexpected. but again, let's listen. china is going to be a major and continue to be a major consumer of energy worldwide. i don't think that's going to slow down anytime soon at all. and absolutely so, especially as the rest of the world continue to look to them to do things like semi

conductor chips and beyond. and we'll continue to follow these shortages as they go along. boom bus, ben swan and christy, i. thank you both for your insight. thank you. and as we look at the growing signs of a global energy crunch, oil prices have hit their highest and levels in september of 2018. early on tuesday, the international benchmark brent crude top $80.00 per barrel while west texas intermediate eclipse, the $76.00 mark. but both have seen their prices come down slightly. moving into the afternoon for context here, brent crude has jumped more than 50 percent since the start of the year. and there are a number of factors driving the spike, including a rapid growth in demand as post delta consumption has risen a decline in u. s. shell drilling, hurricane and do supply chain disruption and a natural gas shortage, which has taken a toll on energy market. global oil demand is expected to hit pre pandemic leveled by early 2020 to putting focus on future opec plus policy decisions. meanwhile,

u. s. equity is fell on tuesday as big texts attack weighed down market facebook, amazon, and video, and google parent company alphabet. we're just a few of the tech companies to take substantial losses. as the nasdaq shut around 2.5 percent. as for the other major indices in the u. s. b s and p 500 val just shy of 2 percent. and the dow off nearly 1.5 percent pushing it into negative territory for the 3rd quarter. so let's go ahead and take a look at what is moving markets with michelle schneider. he's a partner and director of training research and education for the market gage group . michelle, always a pleasure to have you on the show. what's behind this dip or even sell off that we're seeing on tuesday? so what spooking the market. let's count the way. i think the biggest thing right now is people are sort of used to being suspects of government policy. but the one

thing that you do not want to be suspect of is the central bank and the federal reserve. and they haven't really helped their case over the last several weeks. of course, they were criticized for their easy monetary policy. and then we had that meeting last week, which was the 1st time we heard the hands of tapering. and even though tapering hasn't happened yet, we've seen the yield spike ahead of that. that's number one. obviously the scandal now that has forced a couple of them to retire. and then on top of that, you know, have elizabeth warren came out today and she said, let's get rid of pow, he's no good. so this is none of this is really boating. well, for the trust that we have on the organization that sets health monetary policy. so there's a real something to, to keep an eye on right there. and then on top of that, some of the things they've already mentioned, the supply chain issues the top now all of a sudden the fed saying maybe inflation in them so transitory. then we have the big

debt ceiling conundrum coming up. we have whether or not the bite and budget is going to pass. and then of course, just from a technical standpoint, you have a lot of these by the differs who keep buying dips and buying dips, waking up today, realizing, oh wow, i'm losing money. and so you've had a lot of the week longs shaken out of the market. so there you go. going to say it's like a lot of moving parts there. and it is interesting how we realized so much on this trust in the federal reserve. and yet the warning signs seem to be all around, they just kind of now we're actually recognizing it and talking about it. okay, so on another no, we know that there is a so called global energy crunch on the horizon and prices are being pushed up. so how are energy stocks performing right now? well, in the last 4 days, if we just look at the e t f for energy which is x l lee, it's going up 10 percent in 4 days. so that's quite a big move for something that's been well under performing and of course, out perform the market today. and that would include

a lot of the energy companies like british petroleum and valero, and exxon. they were all moved up as well. what's interesting though is what's gonna happen from here, because again, if we look at it from a technical standpoint, we're coming into some resistance. we have the opec plus meeting coming up. they had to raise their production. they could wind up loosening the production. and as you also mentioned in the beginning of the show about the fact that we have really basically stopped shell drilling in this country. but yet we still have a lot of reserves. if we like go, we really are seeing what's happening here, which is that we are an oil and gas dependent economy both here and globally alternative energy. it's just not enough to carry the weight. we have one more type of disaster, whether it be a hurricane, the 2nd wave, or what have you, or the anticipation that consumption will continue to grow while supply issues remain a problem. then we could see energy is going much higher. and i want to go back to something you were talking about earlier, which is the debt ceiling,

because as us lawmakers, they work on a deal to raise the debt, feeling the president of the federal reserve bank of new york ward. that failing to actually increase that limit could have an extreme kind of reaction in market while treasury secretary janet yellow and she said it could lead to a catastrophic event for the economy. what are investors really keeping an eye on when it comes to these negotiations? well, i think today move down really didn't have much to do with that and i think because investors are anticipating if they just look historically that they'll be some kind of negotiation that will happen. so basically you have these dire warnings from the federal reserve and from the treasury, but that's to be expected as part of the whole political spectrum. and they have many of opportunities to come out with a deal they have until the middle of october to be funded. so if we shut down, we can kind of sustain for a while, and it's only if they can't come to some resolution,

which politically is unpalatable for both sides. then we can be looking at some dire type of consequences looking at the fall, downgrade, et cetera. and let's just hope that doesn't happen, right, especially if they've got those deadlines coming up. now i want to bring up one more story while we have you here. i know we've talked a lot about the fcc looking to crack down on crypto currency, but it's also not taking on this back sector with report saying that the scc is telling top auditors of special purpose acquisition companies. that redeemable shares must be treated as temporary rather than permanent. so how much of an impact could this rule change? how moving forward? well basically exactly that they, the, the, the fcc told the auditors of these facts. the special purpose acquisition companies will blank check companies that redeemable shares have to be temporary, but it's sort of kind of after the fact because if you look at what's happened

since facts they peaked at the beginning of 2021, we're only 10 percent of shareholders wherever redeeming for cash. now at this point, we're at 52.4 percent of shareholders redeeming for cash. and so what's happening here? what could happen as a result of the, as he see in an already flailing industry of facts. they're basically saying that if any company falls below the capital requirements for whatever index that they're trying to list on, they won't be able to make it. and so a lot of these companies, like, for example, one particular mile pharmaceutical company rates, 175000097 percent of their shareholders redeemed. and now they have left with 5200000 and i think 5000000 is the cut off. so yeah, trouble michelle site or the market gauge group, giving you straight facts right there. thank you so much time now for a quick break, when we come back on ethical practices,

come into focus is more than a 100 federal judges have been implicated in a bombshell report from the wall street journal. will bring you the latest. and as we go to break, here are the numbers that the clothes shoes me ah no one, no, no, no, no, no. what was the location of unit 731 when a unique organization in the history of the world. what they were trying to do was

to simply do nothing short and build the most powerful and most deadly biological weapons program that the world had ever known. real enough field, you will learn some new look at the moment to new mazda thought this new them or not new. and i got the sale. i understood, i wish to know about jewelry. who knew he didn't know i had to put all of them on all buddy bill, you hours nice to do you want to on this the

little she my new on it and all. i isn't more seminal good, but you're not going to give us the news ah the welcome back. better reserve chairman jerome powell and treasury secretary,

janet yellen took the capitol hill on tuesday, where they testified before the senate banking committee on the latest, the issues related to the united states economic recovery, the to addressed a plethora of topics, including the dueling crises of inflation and a possible default on us debt. mainly what we've seen is that the supply side restrictions that, that are so much at the heart of the inflation we're seeing have not only not gotten better. they've actually, in some cases gotten worse. i think there's no question, but if congress were to fail to raise the debt limit or even if it was feared, if we're getting close the you would expect to see in interest rate spike. and if the debt ceiling, we're not res. i think that would be a financial crisis and the calamity and absolutely it's true that the interest

payments on the government debt would increase. i would be concerned that the dollar in treasury, yes, it's which are regarded as the most secure in the world in serve is the basis for the dollar to be the reserve currency that it would undermine confidence in the dollar is reserve currency. but the meeting was not without fireworks as tensions grew among the federal reserve head and some members of the senate committee. your record gives me grave concern. over and over, you have acted to make our banking system less safe, and that makes you a dangerous man to head up the fed, and it's why i will oppose your renominated. meanwhile, the federal reserve banks in dallas and boston have announced that their presidents will be stepping down following reports that revealed they were trading conflicting stocks while setting monetary policy for the country in 2020. but they continue to

maintain that they follow internal central bank rules. notably, both officials are 64 years old, meaning that they were just months away from retirement. anyway, boston fed president eric rosengran, cited health concerns while dallas fed president, robert caplin acknowledged the accusation and said he doesn't want to continue to be a distraction for the fed. so what does this mean for the federal reserve moving forward, and how common is this conflict of interest across the board when it comes to the u . s. government, we're joining us out of this just is legal journalists. molly barrows contributor to america's lawyer. molly, it's great to have you back on the show today. now i know we've heard from these fed presidents. they say that they were within their rights when they bought and sold stock and real estate assets last year. but under the current rules, is there a case to investigate then? well, certainly watchdog groups think that there are rachel. they say that basically that power should have already been calling for a deeper investigation. but because of the cause i private structure of these

regional fed banks, the presidents aren't necessarily required to disclose their financial trades to the office of government ethics unlike pound other members of the washington base board. so, you know, those 12 banks repair annual disclosures and then they released them voluntarily. so the real issue is whether or not there's going to be enough push to tighten up these ethics rules to make them stronger and to really hold leaders like this accountable. because again, these watchdog groups are saying, hey, you can't just let them retire and move on to private practice when they've just pocketed basically on the backs of doing something that is certainly unethical. they say if not borderline illegal, but again because of those clause i private rules, they said that they follow the rules and paul has promised the fed will strengthen and it's ethics rules moving forward. now the central bank isn't expected to ban all trading on individuals doc, the center elizabeth warren has requested. but are we likely to see any changes after these resignations? you know, that's a great question, right?

i mean, over and over again, we see these sorts of questions arise and watched our groups again are calling for change. but the real question is, is there going to be any power looking to be appointed to a 2nd term? is he really willing to rock the boat? is there going to be enough of an outcry to make it worth his time to hold these guys accountable or to do more to strengthen those rules so that these sorts of holes aren't? you know, there are people flipping through the cracks, if you will, of, of these vague ethics rules and how they're supposed to apply to these liter. so, you know, i don't know 1st for sure. they absolutely should do something to address it, but whether or not they will, they haven't so far. there's been various laws that have been passed as it relates to congress. and the same rules that apply to congress do apply to the chairman as well that these bank presidents, but they all seem to find a way to get around them, don't they? they certainly do. and i know you mentioned congress there. we've talked about the federal reserve, but there is another aspect to all of this which is happening at the judicial level

. and a recent report found that more than $130.00 federal judges violated us law by overseen hundreds of court cases involving companies in which they are their family own stock. is this likely much more common than we actually know right now? absolutely, i mean, what a great report that they even found, what they did find, you know, these judges are informed of these requests to see their disclosures at the base of the way the whole process is set up. it makes it easy for them not to, to disclose, because basically if you want to see what a judge is overseen, if there has been a perhaps a discrepancy that they may have had some sort of conflict of interest. if they are informed of anyone who request to see those disclosures, so we're creates a disincentive right out of the gate. and that's what they found into just in this initial digging, imagined the number of cases and even more judges that are out there that have heard cases that whether they meant to or not disqualified them. and then they didn't disclose the details. so no judges and modern times have been removed from

the federal bench solely for having a financial interest according to that report in a plaintiff or defendant. so it doesn't seem like there's any one really overseeing them and certainly not holding them accountable when something like this happens. so enforcement isn't just the problem. it's also the reporting process in general. absolutely, i mean, i know that there's concerns all around, especially when we're talking about these similar issues with just about every level of the united states government and accountability. there's a really big thing at the end of the day, but grand inside as always, america's lawyer contributor and molly barrow. thank you so much for your time. thanks, rachel. and finally turning a profit, trading crypto currency can be difficult, but a german hamster seems to be figuring out. that's right, mr. gac se, hamster with his own trading cage. doug, the gap box, i'm would call it a home office, has been trading crypto since june. here's how it works. goc runs on a wheel that chooses which token to trade and then run through either a buy or

a sell tunnel, initiating a transaction of roughly 20 euros worth of the crypto currency in question is human business partner who prefer to remain anonymous? live streams is trading sessions on twitch and post, buy and sell orders on twitter and read it. and get this the hamsters portfolio. it's up nearly 20 percent since he started in june. according to the twitter account, of course, centrally outperforming bitcoin that's and p $500.00 and warren buffett. berkshire hathaway. wow. so we've been getting it wrong. all along. all we had to do is get on to which and follow this hamsters live stream. and i mean, he knows what he's doing, you can see he go through the by when it's time. sometimes i have noticed in some of the videos that i watch the likes to go through the by tunnel than right through the cell tunnel. he knows right away, he's get that volume trading up here on top. we could learn a thing or 2. for the time, you can catch boom bus on demand on the portable tv app available on smartphones

and tablets, through google play in the apple app store. all you gotta do is just search portable tv, portable tv. you can also download it on samsung, smart tv and roku devices or simply check it out at portable tv. well see you next, send me the land of universal healthcare makes america the country of every man for himself . we have a retirement crisis in this country and we have a health care crisis for seniors in this country as well. so private business has come up with a special mechanism for that. it's called a live settlement market. we are a life settlement provider, means that we buy life insurance policies from primarily seniors throughout the

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