ah, we're empowering ourselves to be more issues or quicker with our transactions. we can make mobile payments from our stands. the truth is that every device is a potential entry point for security attack. i think you can put on the way to which manage the clear with on that and then we thought of them again, but only eventually there's malware on thousands, maybe sometimes millions each day. they use the cyber. they use the technology as an extension of traditional crime. artificial intelligence has not many main threat . this is due to the 3 laws of robotics. one of the things that's happening in the mini cyber implants right now, i'd be where it really worried about it. most people were equally b, u, calling for a chip in my brain. so there has been a lot of progress from the hacker site using ai and using other advanced

technologies to there has been on the defensive side. join me every 1st. on the alex salmon. sure. but i'll be speaking together for the world politics spoke business. i'm show business. i'll see you then. mm. ah. this is boom boss, the one business show you can't coordinate on bridge a bore in washington coming up. the united states is facing an inflation rate that it has not seen in decades straight ahead will bring you the latest figures and what it means for consumers as the holiday season. fast approaches and charges have been levied against the hackers that reeked havoc on american companies. over the

past year, we'll discuss today's pursuit of the cyber criminal. then we take you inside the troubles of tesla. as the evie titan has seen its stock slip in the last week as the ceo, keep the company in volatility. will lay out the chappie saga. got a lot in line. let's go. we lead the program with the state of inflation, the world's 2 largest economies. inflation in the united states had a 30 year high in october. the labor department reported wednesday that the consumer price index row 6.2 percent year over year. the highest rate since 1990 with a point 9 percent increase from the month of september. a whole host of issues are driving up prices including pandemic and do supply chain constraints. rising energy crop costs an increased consumer demand. meanwhile, factory gate prices in china rose at their highest clip in more than 2 and a half decades. the nation's beer bureau of statistics released figures on

wednesday, showing producer prices rose 13.5 percent year over year. the biggest increase since 1995 cost for the materials wholesalers buy from producers has been trending up in recent months. as china dealt with coal shortages with the energy crisis, causing upward pressure on commodities with these numbers out pacing analyst expectations, what is the outlook for the worlds to most crucial autonomy? wanting us to discuss our friend toby smith is the ceo of transformative research tobin. it is always a pleasure to have you on the show, and i know we beat this drum pretty much every time we talk about inflation. but the bad content, it's all transitory but we keep hearing warnings that it could. we could see high in place for that least the next 6 months, while goldman sachs issue to note on sunday thing a place. it's going to get worse before gets better. where do you see it? how did it? well, i never took my newsletter, but just let me tell you what i sent to thousands of people yesterday. which is that when we had low inflation, there was

a whole bunch of reasons why we had low inflation. and one was we had a lot of people to work for. second was of course we had e commerce taking prices down, making more competition. we had the go baby go fracking, you know let's, let's drill a 1000 wells a week. even though we didn't know where they're going to make any money, everything was going right. well now, brett, everything has turned sideways or in reverse. and the fed, as measured by the, the fed features interest rate futures. we were looking for a rate hikes in 2023. now we have at least 2 rate hikes. one started in july, probably one in december, and then september perhaps 3 because the genie is out of the bottle. the fed knows it now want to panic, but i'd be prepared to keep our values inside the fed room right now because we have sticky inflation. every part of the in place a curve. prices are higher,

the band is higher, so we have poor push inflation, and we push inflated. i've never seen it before, and i've been doing this a long time and toe. but i wanted to clarify something about inflation with because i, i respect your genius here on the program. the reality is, we are the prices go up, the inflation rate will eventually come down. but will we ever see those prices actually come down for consumers or is this kind of going to be once we hit that top end and we start to level off, is this just the way of life from now on? well, look at in the longer run, you know, the beauty of capitalism is that if, if i can make something cheaper than somebody else can, i'm going to get it out of the market. i'm going to gain market share. so, you know, let's take all the industries together, but price inflation, you know, when we were starting this, it was all got rental cars or used cars or, you know, a parallel to china. prices have gone up, but it was not systemic. now that is systemic. and unfortunately, the way that you crush inflation is you raise interest rate still point that you

take the marginal demand out of the out of the, you know, at cars, home prices go up the hallmark of just go up yada, yada, yada. were not there yet, but, but if we're going to start rate him, remember rate there at 0. look at the wage heights. we have 8 percent, you know, 60 percent way type, but now they're 0 because of the inflation cost, the higher prices to buy food and clothing and water and boom and everything else. so we've lost the wage heights. that's going to people too who are selling products, who are paying a lot more to put their products out. so they're not making anybody, you know, any more money we so it's going to take years, not months. and you know, the risk here is that if i own a tech stock, it sells for 50 times it's revenues and makes very little profit. and all of a sudden i got a discount. those. those earnings by 2 or 3 percent. that means those stocks are coming down to and now i want to go to you and you mentioned the chinese producer

prices that we talked about there at the top of the show. i mean, is that causing this ripple effect into the u. s. with, as we're so reliant on these chinese manufacturing as well. well, it's one of the components brand, but remember, even if they produce the stuff they can't get it to their customers because of those supply chain delays. and you know, we said this before, when you think about a supply chain, one taken out, armor slows everything down. and right now the chicken, the armor is as they can produce them. they can get the customer if the customer can't get them to, then they're going to, the prices of whatever amateur they have on, on hand, are going to go up add. so it becomes a self reinforcing feedback loop. use that term and think about that because that's exactly what we're in right now. is higher price, but gets a higher price. and then you get into a demand issue right now, strangely, as prices go up, we have more demand. why?

because we went through the fricken pandemic and you know, people put up buying a lot of things, people put up a lot of services. so we've never had where you had actual production prices going up and demand still going up. never seen that. i can remember. and that's what so insidious about this type of inflation push, pull, pull, push, and i know we tend to have you on it with your invest your accent on the program or a lot. and bitcoin is hit record highs early, where they just shy of $69000.00 that the inflation data was released as a crypto sector. is this kind of real bull run lately? do you see it as a legitimate inflation hedge? well, i would commit, you know, maybe 5 years ago i would not of, but i think the 2 things you know, we've talked about a bit coin is number one, if you believe in it, you believe in like a religion and there's 7200000000 people connected to the internet, who for a dollar can buy bitcoin. so if you then go to make the 2nd leap,

that since there's a fixed amount of bitcoin and an unlimited amount of currency, that it's the true, you know, gold, digital gold. that case has been made pretty well right now. right. so gold is going up. silver's going up, because going up, those are classic inflation. you know, real estate. those are all classic in place deals. i feel like i'm back in the seventy's. get my goal. i'm buying homes again, we're investing in the home builders because it's changed to man, it's 1012 and i know we tried to solve all the world problems and we probably didn't do it today. but we put our best effort in tolbert smith of transformative research. thank you so much. always a pleasure and a follow up to one of the worst ransomware attacks in us history. the us justice department has charged to man accusing them of being involved in a cyber attack in july of this year. that effective as many as $1500.00 clients of technology provider can say at court filings on monday show you're

a swab basinski who was arrested in poland last month and your guinea, pollyanna, and were charged with conspiracy to commit fraud and conspiracy to commit money laundering along with several other offences. according to the justice department, the 2 were acting as operatives for the hacker group are evil, which was also allegedly involved in the ransomware attack against global meet supplier j b. yes. the charges come in. the united states has made dealing with cyber crime, a huge priority after these 2 high profile situations, as well as the attack on colonial pipeline. joining us our discuss what we've learned from these latest charges and some other cybersecurity news. and today is morgan wright, chief security analyst at that no one and former senior advisor, the u. s. date departments, anti terrorism assistant program, morgan, always a pleasure to have you on the program. i want to start with this. i mean, what did we learn from these new charges? did we get any insight into the tactics of how these cyber criminals were actually operating? no, not really, brent. i mean, this is, i don't want to discount this,

but this is the equivalent come equivalent of d coming out saying, hey, we just arrested 7 guys for someone to if we got to 8 balls, if we just stop drug trafficking, as we know it in north america, this is not any words near close. they got $6000000.00. that is nothing but a rounding error. and when you look at the amount of money and we're talking into the billions of dollars that has been lost ransomware, so does it strike fear into the heart of other ransomware operators? maybe a little bit. but the thing that's more interesting about this is extradition has always been one of the biggest issues you can indict all the people you want. but if you cannot expedite them and bring them back to the united states, nobody wants to come to the united states. pablo escobar learned that nobody wants to come to the united states, l. chapa, learn that well. we've got to start applying that same mentality to ransomware people and the fact that they were been caught commit or the ukraine going into poland or some places like that. that means that we're sharing information and

intelligence. so that's good. but are we going to stop this? i don't think you're going to stop it because these organizations still operate in places. we can't touch them and somebody will if that i appreciate you coming on and actually given a straight talk to her as well as maybe this isn't as big as they make it out to be . some analyst pointed out that going after affiliates of these organizations, like the 2 men who have been charged, can be very effective because of their skill set knowledge of the situation, saying it's even better the maybe going after are able themselves again, maybe they're patting themselves on the back, but does that make any sense? you know? no, not really cuz guess why this? there are so many affiliates out there. so they got one little branch of a multi branch, you know, organisation, all these affiliates could they have some unique skill sets that if they weren't able to apply those, that might slow this thing down. i will tell you, here's, here's what i noticed. i didn't notice that i didn't notice a change at all and the number of rents more tax occurring. so they arrested these guys. what's changed? quite frankly, the answer is nothing,

nothing is changed. nothing's changed until you can actually take out the organizations or the other thing we have to do. brent is start changing our terminology. we got to quit talking about responding and recovering. and we've got to start talking about investing in technologies that stop and prevent otherwise, you get the equivalent of a fire alarm in your house. it says, congratulations. your house has successfully burned down. i don't need that. what i need is something that stops the fire from occurring in the 1st place, stops the ransomware attacks from happening. that's the only thing we can control from a country standpoint, from a critical infrastructure standpoint, is to stop the attack. we will never stop people from wanting to launch the attacks against these and is the answer. they're really money. i mean, when it comes to like a private company, i mean, we know that they're basically doing the bottom line situation where there is technology experts who are say, know, this is how much money we need to spend in the company saying, well, we're willing to spend this much and there go okay, well that puts you 5 years behind the hackers. so is that really the issue?

you know, it's the mentality. brentley, i actually, i have a meeting coming up with some folks from both sides of the all coming up this weekend and my message to them is going to be the problem. is that the problem? the problem is the way we think about the problem and that's not even what counts the way. the problem is the way our adversaries think about the problem. and that's what we're really behind. we're behind on the way our adversaries think about the problem about how the hackers think about the problem. so if you're going to spend money, spend it on investing in newer technologies that can automate responses to these things. would you rather have the old version of the fire department where they ring the bell? 5 guys run out, hop onto a horse drawn carriage and come out and pump the water into your house. or do you want that fire suppression system that automatically detects it? and stops the fire from spreading. that's the mentality we got to get to unfortunately, federal procurement and some traditional procurement is still buying the old stuff . so it's the joke of yesterday's technology tomorrow. we'll solve all our problems . not really on that. and that's why i would say it is, does that technology exists and is readily available for, you know, especially critical. and so it does. okay, there you go. now i have

a couple of one more point here about our evil before we move on. if we have time here, because the groups involved in these 3 or 3 of these recent high profile hacked, including are evil and now they were actually shutting down operation shortly afterwards. you actually believe that or are they just scattering to start under new name? now gan crab, the one of the most successful ranch and we're organizations of the world, got $3200000000.00 our we're going out of business. now they're back. i mean, this is, you know, all this is, this is under new management. they think if they re brand, you take the focus off of the old name, and now we have a new name, but it's, it's the, it's again, i go back to drug trafficking organizations. this is similar, sinaloa cartel, one days that he cartel the next. it's the cali cartel. we still have the same problem. it's just under a different name that that's not going to change. what happens? you can change all the names you want. we still got a problem with ransomware, mortgage, right? i really appreciate you coming on the delay bear these issues that fortunately it just sounds like we're thing. no, nobody's prepared to handle this. it's going to get worse before it gets better.

but i do appreciate your insight today. you bet brent and time now for a quick break, but when we come back, the last week has been less than stellar for the world's most valuable car company . a pestilence deal on must tweet way on. the company's stock will break down. what is happening? investment should be worry, that's going to break. here are the numbers that the quote they're starting to say things like, we're gonna do exactly what we've done here at the u. s. government by blowing

trillions of dollars on white elephants on billing da goals, and somehow that's going to cure inflation. of course, it's just going to exacerbate inflation there. this is a recipe for, for more inflation. so it's financial literacy mixed with state sponsored propaganda over there at the major american networks we're allowing ourselves to be more efficient for quicker with our transactions. but with that comes a trade off. every device is a potential entry point for security at any machine. and it's an extension of traditional time. the defenders have always been one step behind the attackers permit. when one comes option in the offering. it's not

a matter of, if it happens, it's a matter of when if we can now look into people's minds, read the thoughts. the question then is, what kind of consequence we, we could take from this. i think you take the example flying, it would prevent us from like we wouldn't be able to lie anymore if everything becomes transparent, but what we're thinking. mm. welcome back. if it's been a wild couple of days for eli bus scan, the stock of tesla 1st let's talk about test, which saw it's back close down almost 12 percent on tuesday after ceo eli mosque over the weekend, proposed selling 10 percent of shares. and the electric vehicle business as a result of tesla stock dropping musk himself lost $50000000000.00 in just 2 days.

and i want to repeat that $50000000000.00 in just 2 days. it's the biggest to decline in the history of the bloomberg billionaires index. and the biggest one day fall after jeff bezos is $36000000000.00 plunge, following his divorce for mackenzie scott in 2019. to discuss, let's bring in boom by co host, spend swan and chris the i. christy, i want to start with you here breakdown for us. what happened to tesla dock and how much tweets have actually impacted that? yes, because i share their down sharply after the result of must twitter poll came out with his followers telling him that yes he should sell out so much because vocally opposed the entire point to plan to tax capital gain. but he has said that he would abide by the results of a poll, whichever way it goes. so while it kind of looks like he's giving his loyal twiddle, twitter followers a choice, they really didn't have a choice here because must was going to sell one way or another. so i do think it

was kind of genius to try to give the people the illusion of choice as if he was beholden to a dumb twitter polls. so no matter what the results of the pole would be, much would have likely started selling millions of shares this quarter, given the stock option. he was awarded in 2012 coming to expert. so the gains on those shares total just under $20000000000.00. so in order to exercise them, must cause to pay the income tax on the gain since the options are taxed as an employee benefit or compensation. so the total tax bill on his option at the current price would have been about $15000000000.00. and since the have a limited window in which is sel, stock must have like we had to start with the sales over the next 2 quarters in order to pay that tax bill. so a sale wasn't habitable either way. it just that now he looks like he's a good guy for abiding, with a public opinion poll. unfortunately, for total stock though its reacting as any stock would to an inside or stella, a huge block of shares. and the market is now preparing for

a flood of new shares to drive the price down. now, bad when it comes to the social media side, a lot of this job seems to be tied to those months tweet that you just pointed out . but how much do between really impact a company that actually has so much upside right now? well, i think it impacts that in exactly what you just said. there's one of 2 ways. so either you don't say anything you just are selling and then the price falls even further. i think you would see a much further drop and just fall for sent. if it, all of a sudden the founder of test will begin selling huge numbers of shares and no one really understands why. because look bad. but if it's the same time you've already gone through, and it is a charade, to an extent, you've got the charade of putting together a twitter pole. you've gone to a charade of allowing the people to speak and decide. should i sell and they're like, yes, sell, all right, i'll do it for you, but you're not doing it for them. you're going to have to do it anyways. so and on some levels, it does stem the tide of fear in the market to say, oh my gosh, why is you, i'm not selling? well, there's this twitter probably doing it because people told them to that sounds better

than i'm exercising options that i have to exercise from a contract. that's almost a decade old. so i think there is certainly a way of using social media in this way. look up whether you like him or not, and who doesn't accept project basis, but whether you like him or not, who is a genius when it comes to utilizing social media to either drive the price of crypto currencies and points that he likes to drive the price of test lead to drive the thought. mean he is very good at utilizing social media in a way where the fcc can't really do anything. it's not really seen as giving insider information, but he does it just enough to build a loyal following. so i think he played it about as well as he could have chris if you agree with beds assertion there that i mean it would have dropped any way bigger because it would have been like, oh no, the ceo of tassel or some whale for that matter. it's selling, you know, basically 10 percent of their shares. so would that have happen? had they not done this? absolutely, it would have dropped a lot further because everybody would have known it has to be a month because one,

nobody has that many shares to begin with to sell 10 percent of tesla. he is one of the biggest shareholders ever. so he has to be, the de facto will not to mention as a fee of a company. you actually do have to declare every single time you plan on selling it . and you do have to start them every single quarter. because as we said, you have limited windows and weeks in order to sell, you can sell them before major earning calls, etc. because that would be considered market manipulation. so because of that, now people actually have a reason, and that's the thing. people like having reasons for why a some x y, z name or crypto current. these either going up or down uncertainty is the biggest fear in the market when the market doesn't know what's going on when it doesn't have any explanation for whatever movement. that's when people have fear and panic, and that's when you have a lot of volatility in the market. but when you do have something to point the finger to such as this twitter pulled, that looks like all the people actually had some sort of say or opinion to make a billing or do their bidding. that's actually very powerful. so i agree, even though not the biggest fan of month, i agree that this move on his part was absolute genius because it pains him as the

good guy he's doing what the people want him to do. he's doing it for the people, apparently not for himself in order to sell out of a huge chunk in order to exercises, even, even though he knew for himself. of course, christy, do you feel like i mean with this situation? obviously people on the top and were just trying to get out with as much money as they could, knowing that this would eventually happen. so will that stock will eventually rebound anyway, after all of this plays out, correct? i think the stock will rebound, but let's not forget that tessa is a big momentum name. and the reason why it's a big momentum name is because a law must, has post themselves as a figure head of this entire company. i was 10 percent of his shares. it's not that much. it still means that he is less vested in the company, so i don't think it diminishes him in any respect from tulsa. but i do think that as time goes on, if he starts showing more and more shared people will start getting the image at o pencil is no longer the baby may be focusing more towards space acts and he no longer becomes that influential. because let's face it,

we're actually valuing tesla based on the actual market share based on sales of actual cars. it's not the, it's not worth that much. there's no way the stock should be this high. so a lot of this is because a cult momentum in the name of the law must that propels the name. i oftentimes good question, the idea that tesla is the most valuable company or car company worldwide. when they sell, you know, a fraction of the car, say toyota does band before we go mosque. recently tweeted that he would prefer to stay out of politics, but his lobbying efforts and tweet indicate that may not be the case. i have about 45 seconds left for you. yeah, i mean you, i'm not interested in politics. he's actually pretty political. what he is. so is he's not partisan and i think you have to separate those 2 things. you must, his lobbying, the, i think $2000000.00 is what they spent the last year between tesla and states x, which is a lot of money. but at the same time, it's not a lot of money in comparison to how much money that company actually makes. as a result of government policy,

we talk about tesla and the value it has its real value comes from either being able to get tax incentives and being able to get government money or, or government programs that are driving everyone towards that. that's the real value of it, but i do think that you love for his part is pretty non partisan. he's an equal opportunity offender in many ways. he gives to both sides. he criticizes both sides . i think what he wants is to be able to lean into politics when it's convenient for him. but he also doesn't want to draw the eyer of government too much, which he seems to be on one hand draw personally. but again, all of his companies benefit magnanimously as a result of government intervention and government taxpayer dollars. that's why he is the richest man in the world. i would say it seems like he doesn't want to pay taxes that he definitely want to make sure space x tesla is involved in whatever government contract or bidding they can get. boom by spend swan christy. i think you both get and finally made your acquisition in the world of entertainment. as

iconic director peter jackson is selling most of his digital effects to the weather, to unity for $1600000000.00. now, unity makes one of the most popular game engines for video game development. and where does technology has been used in blockbuster films, including the lord of the rings and avatar as part of the deal? jackson studio will be split up with the assets being sold to you to unity as digital. well, the visual effects company. what our fax will remain separate, but is expected to become one of these biggest clients. the companies say the deal will quote, democratize the industry, putting the quote incredible exclusive and sophisticated visual effects tools in the hands of millions of creators and artists around the world. and that's it for this time it gets boom, bust the on demand on the portable tv app available on smartphones, tablets, google play in the apple app store by searching portable tv, portable tv can also be downloaded on samsung, smart tv and roku devices or just check it out at portable that tv will see you

next time on boone, bottom. oh, is your media a reflection of reality? in the world transformed what will make you feel safer? isolation, whole community. are you going the right way? where are you being led somewhere? which direction what is true? what is faith? in the world corrupted, you need to descend a join us in the depths or remain in the shallows.

as a korea professional sport is much tougher on some than others with my by everybody. so why would somebody believe me, i was just a little girl. the price paid to, to, to achieve really was, was trying to read on the paper this morning. usa swimming coach, arrested leslie had sex with a 12 year old girl. this happens almost every way. we get calls at the office, i get informed about one of my greatest fears is someone's going to start linking all this together. and it's going to be a 60 minute documentary about youth co is in sports like gymnastics, swimming here. is that documentary? see it on our t with

deadlines, it's lunchtime food, a medical aid in short supplies, thousands of migrants camp the border between bell roo, some colon for 3rd night. and no rag correspondent is at the st. evidently. this girl, a branch. now she's leading in. she needs help, but the problem is that there are no medics around. there are no doctors around and i am really, nobody knows. well how to deal with the company behind the medicaid. the job dismisses the u. s. government road in making the vaccine even though received public funding as they battle over the lucrative rights to the drug. and also to come to probably been discredited from russia dossier underway. we look at how the main.