good, any hobbies loosen everything's wow about terry is a product to 4000000000 years of evolution. it is in a specific environment. so a week. so in that sense we have, we are lucky survivors. it in to vote along a long process. you so as in severe springs at yellowstone, we will not do very well and we'll do much better in that sense. this update on you being a no, no, no, no, but they did a valuable. mm hm. wrap it up in my mirror. now i own my heat up, my laptop that has a stuff where your left knee, knuckle my law. bob again thought, no, well i'm going up it a bit a well, i mean,

happy to lation suburban yeah. now we bonia natal. i'm not in the that and mm hm. with this has been bus one business say you can't afford to miss. i'm ready to love it that i bridge. boy, why think then coming up. oh, pack in it for a producing allies agreed to stick to their existing policy of increasing production. this despite a release of oil reserves and a mid fears of a new variant of hope it is this the best option for the car. so we'll, we'll discuss that and the u. s. economy is coming under pressure at supply chain issues. labor shortage and inflation persist,

leading to what the fed called widespread price hike, the consumer demand continues to strip supply. and speaking of the supply chain crisis, lawmakers rolled out legislation to stop so called goring thoughts from snapping up everything from electronics to sneakers. the toys will hear from both sides today and advocate as well as the body himself. we have those packed show today. so let's get started and we leave the program with the ongoing reaction to the news of the latest coban. 1900 very on the crowd is not only getting a lot of media attention. it's also seems to be impacting financial markets. what might surprise you is that of a certainty from the new coven barian is also impacting oil prices and even opec policy thursday. members of opec plus, met by a teleconference to discuss how to deal with last friday, a sudden sharp clap in oil prices. a drop of more than 10 percent within just a few hours due to those fears of the new very. so what does that mean for the oil

market moving forward? well, let's bring in boom bus, co host spend swan and christy i to discuss now. but i want to start with you. what came out of this meeting on thursday? yeah, was you guys kind of mentioned it's, it was a whole lot of keep it the thing, right. which is essentially opec and opec club countries are deciding they're going to continue to increase their output as they had already planned to do. so they're not really making changes based upon news regarding the cranberry. and what's interesting here is that, you know, after this news, i think brent oil dropped about a dollar a barrel. it recovered a little bit, ended up around $70.00 a barrel. that's still well short of where we were in october and october. we trading that about $86.00 a barrel, but even though oil is down a little bit where it was an october, it's still significantly up and where it was at the start of the year. remember at the start of the year it was about 30 percent less than it is now. so the prices are still very high on oil. the idea, i think that this variance is going to cause huge disruptions in the oil market,

i think is untrue. but remember the oil market, as we talked about so many times is all based upon spec ation. that was not so much about whether or not actual travel restrictions are put into place or travel actually lessons. it's about what speculators believe, what might happen or could happen, and that's what they're based on a lot of the pricing. and certainly we've seen that just that fear of what might happen has had an impact this week. now, christy, many people watching us may be thinking, what does the on the kron variant have to do with oil prices? what do they need to know about how these 2 things correlate? well, simply put, it's all about supply and demand and has been mentioned speculation because we already know what will happen with another outbreak. we can predict that there could be more trouble restriction, which might mean less flights, potential lockdown or shift back to work from home, which means less work community. and then of course, we have less people staffed are working, have shifts, and manufacturing plants to maintain social distance thing. then that means less

productivity and plants will not be operating at my capacity, thereby consuming less fuel. so all of those above. 5 those are dampener as on demand, so especially air travel as we are in the peak season for air travel. so 30 infections have already pumped a new restrictions in parts of europe and asia with japan closing down completely. so opec plus is keeping a very close eye on the situation to see if it gets worse. like the 1st wave cove it, it demand actually falls off a cliff, but opec continues to pump more and more supply into the market. then of course the price is going to drop and right now it better drop gas prices are costing. i'm pretty penny here. oh absolutely, and i know we've been talking about those high high gas prices and then at the same time now we're talking about them dropping down a little bit. and then it seems like opec is looking to put some kind of floor under prices to protect them from a virus induce panic. but is that something that they're actually able to do? well, i think, to some extent there alex, trying to do it as you said,

that the idea that they would have a floor underneath them i think is probably comforting to opec. but it's so hard to determine because a lot of you use the term virus induce panic. i think that's exactly the right term . think about this. i mean, a lot of what we're seeing with the crime is, is really this kind of strange belief that we're going back to the beginning of 2020 again, that get ready for locked down, get ready for travel restrictions. listen to the doctors in south africa who have actually treated that they're saying that's actually more mild and they've seen for other forms of coping. so i think some of this is kind of premature, but i think there is a lot of fear that wait a minute. here we go again and we're about to go back and re live what we just lived through for the last 2 years. and i think markets don't like that idea. certainly opec doesn't like that idea in general. population don't like that idea. so the question is, do you really take those extreme measures and those are stream steps. obviously, at the beginning of 2020, i mean prices fell into the negative territory for oil back in 2020 in the 1st part

of the year when the original lockdown took place. so it does have a huge financial economic effect. quite candidly, guys, i mean, i'm typically a pessimists and even i don't see that happening. yeah. and i mean, you have to wonder also, i mean like if they look at what happened with the delta vary and how that didn't have as big of an impact on say oil prices on say the global markets that we cover so much here on the show but christy, i want to go back because oil prices, they've obviously been off the charts for most of this year. as things did reopen, especially in october, what are the chance that we actually get back to those prices before the end of the year? or has actually now ended those skyrocketing prices, at least for the time being about 45 seconds left. i think for now i'm the car has at least stop the increasing prices, which is a very good thing for consumers at the palm. because for now, the upward pricing pressure due to the time supply and high demand seems to have the betas, especially here in california. we've been pay about $5.00 a gallon. but at the 3rd day, the current average is about $469.00,

which is close to where it was a month ago. so i think as a temporary cap on prices, but i think it's too soon to tell the dollar trend wells of thing. and of course, we'll continue to follow all of these stories boom bus, co host spend, swan and christie. i thank you so much for taking all this out for today. thank you . and it's listen continues to take a toll on the world with the federal reserve admitting the impact increasing price they're having here in the united states. it's the latest update released wednesday . the central bank said that prices rose at a moderate to robust pace with price hikes wide spread across sectors of the economy. now the fed said the extended ec inflation, which it finally admits, is not transitory, is continuing as a result of both shortages in the supply chain and in the labor market. but will those shortages come to an end anytime soon? and can we trust the predictions? moving forward. well, joining us now to discuss is danielle the martinez, former insider and ceo of quill intelligence. now danielle,

it's no surprise at the fed would of course place the blame for inflation on the supply chain and on the labor market. but why isn't there more talk about the impact the fed is so this having on inflation by refusing to start the process of tapering until just last month. there should indeed be more focus and there should also equally be more focus on what treasury secretary janet yellow and denied in her congressional testimony. and that's the fact that that because there was this mechanism of the fed monetizing every penny of debt that was created by the u. s. government. that all of this fiscal spending was injected directly into the economy and given to many people who didn't need it. and that's why we've seen lines i'm gucci. and sandy and kristen do you are in chanel stores, where, whereas at the same time, you're seeing inflation to the lowest income earners. be a very regressive tax when it comes to the basic necessities of life. so again, i think we have to focus not just on the fed being totally complicit in collusion

with congress, but also the effect of the fiscal stimulus together combined. it's created, there's roaring inflation. i mean, obviously, you know, you wouldn't expect them to actually admit that they made the mistake here. obviously what they've continued to say, it's transitory up until at least just the other day when they decide, maybe it's time to retire that word. we'll just find something else that mean temporary, but when it comes to these labor shortages danielle, we know that since the beginning of the parent demick, many americans have retired early. they've transitioned to working from home full time or even became their own boss. what are the long term concerns for the us labor market right now? is the fed taking this into account, especially when they say that they won't raise rates until maximum employment reached? well, and i think that i think we're starting to hear a slight change of town from care powell, especially these last few days. i think he's starting to set aside this maximum inclusive employment and saying that inflation is equally part of the feds mandate, which actually of course it is. it was the fed excuse me,

a national mandate. so we have to focus on that shift. but, but your question, i think that there's been structural damage done to the us labor market. i think a lot of americans who retired early are going to look back and say, why did i do that? i had another good 10 years in me. and we've also seen companies seriously accelerate that the pace at which they were, they're automating. so you know, we could be talking about this 12 months from now and there are simply going to be millions of people who actually want employment and can't get it. we could be talking about a whole different narrative, a year from now and again, had so many people not felt the wealth effect of the stock market rising. and the fed feeding speculation in the housing market and the value of the real estate being so high. they might net, they might not have thought to retire early. and again, this is, it's all predicated on stocks and real estate prices staying at all time highs. right. and they are just, that raises the question. so what happens if we have, and, you know, before the pandemic started, we were kind of sounding the alarm. we were safe, an economic downturn,

a recession was kind of on the horizon. obviously, that was sped up by the pandemic and everything that happened. but so what happens if we do have a true economic downturn? that's not in times of a pandemic, and all of that comes crashing down. where are we going to be? that's a very, very good question because a lot of the indicators right now, especially the difference between short term and long term interest rates, the yield curve, the spread in the younger i've never seen in my career. anything this wrap it in terms of how much the curve is flattening how swiftly the curve is flattening and flashing that they meet the economy right now is in a very late cycle, light light cycle light cycles. here's the stage, it's exactly what we were seeing towards the end of 2019, when the us economy was indeed slowing, and we were talking about it going into recession. it's if we've gone $180.00 while creating trillions of dollars of a federal debt to show for it and not much else. and surely a lot of concern there. now we know that power is going to be re nominated. so are

you expecting anything different from him? as we go into the next year, i know he's already talked about possibly speeding up the the tapering of asset purchases. is there anything else that we're expecting him to do? well, i think, i think that how, but if we're going to get the old power back, then we might be talking about rate hikes within the 1st quarter. we might, you know, he might be announcing it on december the 15th, hey, you know what? we're going to speed up the tapering process. it's going to end by the end of the 1st quarter. look to the 2nd quarter for the 1st rate hike. goldman tax came out of on all days, thanksgiving day and expedited, their anticipation for the fed rate hike cycle to begin. so we might actually see some rate hikes, but the irony is, of course, he might be doing this too little, too late into a slowing economy. which would of course back fire again, the fed wait it way too long to take their foot off the accelerator. and i think that the american economy is going to pay the price to little too late. it seems to be the phrase all around here. danielle g, martina,

thank you so much for your time and insight today. thank you. appreciate it. twitter co founder jack dorothy may be resigning from the platform, but he has big plans for his financial services company square. and it all starts with a new name square has announced that it will be changing his name to block. and if you're guessing that it has something to do with doors, love for block chain technology, what you wouldn't be entirely wrong in recent years. square has grown from an easy way to accept payments on a mobile. busy phone to a company that offers peer to peer digital banking, as well as crypto and stock trading. it is also acquired the by now pay later company after pay and the streaming service company title. in a statement square said the new name has quote, many associated meetings for the company building blocks, neighborhood blocks, and their local. busy businesses, communities coming together at block parties, full of music, a block chain, a section of code and obstacles to overcome. boy, that is a lot of blocks time now for

a quick break. but when we come back with lawmakers in the us taking a at the us at the use of shopping by the holiday season, we'll take a deeper dive into the issue from varying perspective. that's a good break here. the numbers at the club, the join me every thursday on the alex summon show and i'll be speaking to guess on the world, the politic sport business. i'm show business. i'll see you then. me again, there are rumors of war. there are rumors of invasion and again the country is ukraine. their allegations of a russian military build up within the countries borders. though it is a fact, ukraine is receiving lethal aid from nato countries who benefits from this strategy

. in the ward drugs noted as a way to combat a gray problem. what's the warranty? it's part of the attitude of the nation and not just of north dakota and it got to be something that you could get elected. this time the fight against drunk still good to try and shake tom. he told us that andrew was competent, short foreman. this is way too dangerous for him to be doing. clearly they put him in harm's way. a rural college student doesn't interest get shot in the head and found in the river like that something else had to be happening. ah

welcome back. now, as we mentioned earlier this week, a group of democratic lawmakers here in the u. s. have proposed the new stopping grinch boss act. it takes aim at people who use automation to purchase, hard to find items beating every day, consumers to the punch. now the general thought on this is that these nefarious actors use these bots to get into retailers websites quickly before you can to buy up items like video game consoles, hot toys, and even limit addition sneakers only to sell them on the secondary market. at inflated prices, but as the wall street journal is pointed out a few weeks ago, it's not just re sellers, parents of actually turned abbas to get their hands on items like sony playstation 5 for their loved ones this holiday season. so we want to go ahead and take a deeper look into this situation and to do, let's bring in chuck valley the advocacy program director with consumer reports.

chuck, thank you so much for joining us. really appreciate it. now with high demand from consumers, there are often a lot of folks online trying to get these. how do we really know how wide spread of a problem box are? well, cybersecurity firms have been estimating that by the activity has increased dramatically during the pandemic. and there are some retailers who have about 25 percent of their overall internet traffic coming from baths right now. so for example, last year when walmart put the sony playstation 5 on sale, they've got something like 20000000 orders in the 1st 30 minutes from bots. but most retailers have taken technical measures to tighten up their security systems and try to resist these incursions. but it's, it's a big game of cat and mouse. and the, there's scale of the box of deployment is very great. now, when it comes to the response that we're seeing from congress, we know we've got this new act, but it's actually not the 1st of its kind. in fact,

back in 2016 congress enacted the, bought the act, which had to do with stopping ticket brokers from buying up large numbers of event tickets and then selling them higher prices. did that really make a difference? and do you see new laws actually changing this practice moving forward? well, i think we're at the beginning of a new era where we have to consider what is ethical and you know, appropriate conduct on line and the batch act as it relates to ticket scalping. made that practice illegal, and it empowered the federal trade commission and state attorney generals to prosecute people who engage in that activity in a malicious way to deny other kinds are going fans tickets. so there was a significant prosecution or enforcement action in january of this year. where the 3 bought upper readers were fined $31000000.00, but it is also true. the enforcement date has been fairly limited. it's hard to get all the evidence that the state and federal authorities need to prosecute tickets,

scalpers. but we think it's an important step to say yes, this activity is illegal and it needs to be discouraged in the marketplace. and we need to do it. we can to stop it and choke. i mean, i guess i'm sorry, this is a bit of an intricate question here, but what is the illegal nature of it? is it illegal to operate the box and by multiple set the tickets, or is it illegal to sell them at an inflated price? it's actually, it's illegal, sort of operate them automated software programs that can file thousands of orders in a minute, you know, much faster than any ordinary consumer could do. so the ordinary concert fan are, you know, sporting event fan doesn't have a fair chance to buy a ticket competing against the automated system. so it makes it an unfair and deceptive practice. and then that way, attorney general's and the federal trade commission can prosecuted under our consumer protection laws. and you just mentioned that, but major retailers, they, you know, they've kind of tried to stop it, but it seems like no matter what actually happens here,

they're going to get paid. so whether it's a bought or a parent trying to get the product for their child, it really doesn't make a difference to them because in the end they sold the same amount of unit. so what is the incentive for them to actually make any effort toward this? i have about 42nd for you. yeah, they don't want to have disappointing customers. i think they feel a certain affinity for people are buying gifts for people at the holiday time. and they don't want to have their individual customers disappointed, and it also wreaks havoc with their retail security systems. so you, retailers are putting a lot of effort in trying to send off a grinch batch. and we hope that this bill will pass and make them illegal in the congress chuck bell of consumer port. thank you so much for giving, clarifying the situation. we really appreciate will have you back on. thank you so much. now with all of this in mind, there is obviously a big community of well let's call them fledging. entrepreneurs who used bought the purchase items and flip them at a profit, and we didn't think it would be quite fair to not have that perspective in this

conversation. so to do so, let's bring in bought or boy, no, but he's a you to personality and reselling blogger who actually practices this. no, but thank you so much for joining us. we really appreciate you coming on with us today. i guess i want to start off simple here, body k popular and event tickets, as we just mentioned. and more recently, in sneaker culture, which is what most of your content is all about, what's the justification for box or bonding, and reselling those limited quantity items at a premium. first of all, i want to say that body is not required to by limited items. the factor is if something isn't low supply, you have to put in more effort to get the item. so that could mean waiting in front of a physical line may be over night. sometimes. despite what the person wants to do with an item, by the time he buys it, somebody who buys it, who waits overnight, definitely deserves item more so than somebody who just shows up 20 minutes late to a scheduled release. now in the online world, what that means is doing your research, studying the retailers and how to exactly purchase at the fastest way possible. and

this can take hours and hours and multiple tries. however, it is possible even without a bought. now, for boarding, the only difference is the level of risk because you can bought and absolutely get nothing from. and you can spend $2000.00, maybe even more on your binding set up. some people spent tens of thousands of dollars on their bonding set up. sometimes they get absolutely nothing, so it is a big risk. and sometimes that risk does pay off. now both resellers and family members who do want to give presents for the kids. they all have the same goal. and that is to check out as many or not as many for that's the case for resellers, but the goal is to check out these limited items. now, it's a matter of how much effort are you willing to put into it. and if you don't want to go through all of that, everything that i just said, and the result price is just the fee that you pay for the convenience of not having to do that. that's actually

a really interesting way to look at it. and i appreciate the fact that you bring out that it is sort of an art for and that a lot of consumers may not understand. and you know, we're watching the manufacturers are getting paid. what does it mean for those consumers and in your experience, are they willing to pay that increased price and you had the convenience of having it go right to them without really having to understand what all is going on behind the scenes? yes, so it is quite an inconvenience. however, the moral justification for it is that it's not really critical to anybody's well being in terms of like councils and sneakers anyway. but however, what is highly overlooked in the media is the stories of the resellers themselves. because the media portray them as essentially people without any like that there's absolutely strip of any human characteristics and they are painted as villains all the time. however, reselling does change lives. i've had

a lot of messages. people saying, oh, i've been able to pay my medical bills, i've been able to pay my crippling student that i've been able to get out of poverty poverty and start a sneaker store. these are some of the lives that have changed for the better because of reselling. and as a disclaimer, success is not guaranteed. however, the obvious catch is that luxury goods are a little bit more expensive and they are a little bit more difficult to obtain because of bothers and re seller. however, the fact of the matter is the opportunity is open to everybody. right? and i mean, obviously we should point out that not only do you obviously do all this, but you kind of show people the way that you do it so they can get in or like you said, that's why they're telling you, hey, this changed my life now as we kind of led this segment with this idea of legislation that might come out, if a some sort of law is actually put into place that limits, or even outlaws bought as a and reselling at higher prices. do you see that changing the practice or will technology savvy folks like yourself be able to actually figure out

a way around all of it? i always think there is a way around and also i haven't exactly looked at the law in terms of like the specifics, but there can be a lot of confusion. for example, if you've ever used apple pay that in itself is automation program because that's where you store your address or your credit card information. you definitely have an edge over people manually type that in. so does that mean apple pay is going to get banned? well, apple is not going to be very happy with that. what about google chrome or just any browser really that allows you to save your personal data. that automates the process of you having to type in all of your information, such as user ids and passwords to be able to check out faster. so does that mean those are going to get band? i don't know, but at the end of the day, if a human can do it in the back, can do it or bother boy, no, but i really appreciate you coming on and adding clarity. and i think you very well spoken about this issue and obviously you're passionate about it. so then you so much for coming out. we'll keep in touch. thanks for adding me. and that's it for

this time on boone, but you can catch us on demand on the portable tv app available on smartphones and tablets. we'll play in the apple app store by searching portable tv, portable tv. you can also download it on samsung, smart tv and roku devices or simply check it out a portable dot tv will see you next time with oh, when i was shopping wrong when i just don't hold any world that is to say out, this thing becomes the advocate and engagement. it was betrayal. when so many find themselves worlds apart,

we choose to look so common ground. ah, what happened? i make no, no borders line to nationalities and you various as a merge, we don't have a charity. we don't have a vaccine. the whole world needs to take action to be ready. people are judgment. 2 common crisis with we can do better, we should be doing better. every one is contributing each in their own way. but we also know that this crisis will not go on forever. the challenge is great, the response has been massive. so many good people are helping us. it makes us feel very proud that we are in it together with

oh, that's hostile service, deliver is a $155000000000.00 pieces of mail every year. approximately 40 percent of the world's mail right now the us postal service is an a flight of its life to see everybody that is really bad financial shape. now facing default, the postal service is a cash cow, and there was a way to pull money out of the postal service to put in the federal budget. there was a mandate that you're bringing a $100000.00, new revenue every month. the nature of privatization in the us postal service is very much hidden from public view. it's privatization from the inside out. why that's a big business in money. it's not about the public and given them the service that

they deserve. it's not about quality train workers. it's about the mind. mm hm. german chancellor, anglo merkel announces harsh curbs on the unvaccinated as rallies continue against . mandatory inoculation, admit of surgeon co cases and worries over the new i'm a constraint. as russia top diplomat notes, the u. s. has torn up practically every treaty with moscow, sergey lab warned that the kremlin won't take kindly to even more harsh sanctions threatened to by his american counterpart at the talks in sweden and trove of documents appears to show the u. s. government failed to prosecute cia employees suspected of child sex abuse. ah.