it's afford to miss, i'm bred to bore, and i'm racial london's in washington coming up. a new report reveals that at least 3 government agencies are still purchasing thousands of dollars worth of chinese technology despite of federal ban and investigation has been launched. but will there be any consequences we'll discuss? plot leaders of the world's largest economies came together to agree on a global tax deal. bought a new report, finds that there are $1000000000.00 loopholes companies are using right now that weren't never address then inflation coupled with the emergence of the crime variance and the ongoing supply chain crisis is a recipe for a holiday. shopping disaster will take a look at the highly lucrative these in for retailers facts. so today we'll stop right in and we leave the program with the remarkable story. as new reports indicate that u. s. federal agencies, including the military, have purchased china, made video surveillance equipment banned from use in the federal government. now, according to purchasing records,

seen by tech crunch and video surveillance news site, i pvm agency called elective li, spend thousands of dollars on purchasing video surveillance equipment manufactured by laura x. a wholly owned subsidiary of di was technology. now you probably never heard of this company, but it is one of several from china that were banned from selling to the u. s. federal government under a 2019 different spending law over the years. fears that the technology could help the chinese government conduct as we are not. so for more on this, let's bring in, boom. let's go home both on an christy i to discuss ban. let me start with you. we break down for us. what this report found, what government agencies were buying this equipment. yes, pretty interesting. as we've talked about for about 2 years now, right? there was been a huge concern about the idea that u. s. government agencies would be buying or utilizing chinese technology and that goes not just from government agencies, back to the private sector, a lot with the one way story we all know about this, right? and so in this particular, what we know is that the u. s. government said, hey,

you can't buy certain systems and certainly not if you're working in law enforcement, department of defense or federal law enforcement. well, it turns out the d. e a was actually violating this policy. in fact, they bought a series of these hard drives. these lower it's hard drives, in may of 2021. so in may of this year, they began buying these 19 different hard drives that they were using according to the da spokesperson, they say, well, we didn't really go out and get these specifically, we got them through the g. s a basically a procurement arm of the federal government to the da says not really our fault. we didn't know that where we were getting the g. s a did it. the problem is this, when tech crunch started looking at this and started investigating the story of the da has still not acknowledge whether or not they have stopped using these hard drives. so again, so folks understand federal government says you can't use certain equipment that comes from china because they might be conducting espionage or stealing our data. and the u. s. government through the da winds up buying 19 hard drives on which to

store data that by their own account could make it susceptible to chinese espionage . so it's certainly a bad look. and again, no accountability as to what's being done with these hard drives right now. i mean hypocrisy in the united states government. i'm dumbfounded. shaw, christy abbey. how big of a p r problem is this for the u. s. government, which is made this huge deal about the dangers of chinese tech over the past several years. exactly. it's, as you said, it's a huge p r nightmare because it basically shows one of 2 things. one that the u. s . doesn't really care are believe that china is a threat to national security. and the only reason that trump was making such a huge fuss about it went to damage the reputation business and power of chinese tech companies growing influence by accusing it of malicious intent. so we all remember the trade war back then in the smear campaign done on chinese companies, which was essentially a fear mongering tactic that led to a black list of all the chinese tech companies and additional leverage to try to secure trade deal. but seeing now as federal, these include the military,

they didn't care and felt it was ok to purchase these equipment. clearly it shows that the risk for minimal or just non existent, fear mongering at all. and then the 2nd possibility that the shows is basically incompetent to the u. s. federal agencies, as well as a lack of communications and checks between them. and it's really funny how they now claim that the responsibility is with the contractors that supply the equipment . because usually the person buying is responsible for verifying the goods, whether it's a proper working condition, whether it's legit or counterfeit, etc. i don't know in what world that's supposed to be the seller's responsibility for the buyers, lack of information and education. so yeah, no matter how you look at it, it's a big nightmare because it shows the u. s. being entirely hypocritical. yeah, exactly. and really makes you wonder, just how seriously the us government was taking when it referred to as all of those national security concerns. now, christy, let's stay with you. i want to hit on this update to a story we've been following. chinese ride helling giant devi,

said friday that it will start listing from the new york stock exchange and make plans to live in hong kong. instead, it comes less than 6 months after the check giant listed in the u. s. in the 1st place. so why is db making this move? it's really unfortunate for the it's really bad timing since it's launch, just as china launched their own financial markets, tightening campaign and attempt to reign and it's tech companies from getting too powerful. so regulators have as t p to formulate plans to be list from the u. s. over concerns about leakage of sensitive data. and the stem from the fact that d d didn't resolve out standing cyber security issues that the authorities wanted to solve before ip. but now this, the listing pressure isn't coming from just china alone. it's also coming from the us side as well. the, the announcement comes less than 24 hours at the u. s. scc finalized rules that allow it to de las, for in stock for failing to meet audit requirements. now these rules will let it implement the us holding for foreign companies accountable act to oversee the

audits of public companies. so given the increased regulatory scrutiny and now facing the u. s, it makes it not worth it to list in the us. so i think we should expect to see more us listed foreign companies to continue to move their primary listings elsewhere. and china has also made it very clear that they no longer want technology companies listing over in the u. s. as they're no longer comfortable with the us as a jurisdiction for chinese tech and the scrutiny that they will face. pan les the u . s. doesn't seem to want china to list here anyways. so it seems like this is one point that both nations can agree upon. it's just a shame that you have all these companies that are just caught in the middle that want absolutely nothing to do with the politics of it all. absolutely not bad. i have one more thing i want to hit on here. it's been, it's up here for chinese internet, billionaires. they've lost more than $73000000000.00 from their combined net worth since april. and i have about a minute left. what's the story there? yeah, i think the story of the 2 words used there. it's important internet billionaires

is not all billionaires, it's those who have made their money. where in that internet space, because as christy just said, it comes right as china is cracking down on companies that are too big and spread out into too many different industries. and so if you are a part of dd or if you're jack manya of alibaba, right? but the future for all of these companies was not just to stay in their own lane, but to expand into all kinds of financial services and all other parts of the economy and china. the government of china has said, you will not do that. you will not be allowed to do that as well. we're watching for all these internet billionaires is as opposed to what we see here in the u. s. for everyone just keeps getting bigger and bigger. they're actually going through contraction right now. being required to do less in order to save and ensure up the chinese economy. again, we talk about quite a bit on the show. i think what china is doing is kind of a somewhat radical experiment when it comes to tech companies and to be economy in general. but i think long term they're going to come out ahead by taking the actions that they're taking. certainly will be interesting to see what the effects

are, especially as here in the us. we watch a 1000000000 years worth skyrocket in the last year. boom bus on and christie. i thank you both for your time. thank you. the full market mix. if we give investors where the impact of the new vary of cobra, 1900, as rising and placing continues to remain in focus, let's see how things played out. we start in russia where the mo, x is up for the week by one percent. this is fight warning from us secretary of state anthony blake in economic sanctions, if russia were to make moves against ukraine, new data released this week showed the nation's economy grew by 4.6 percent in the 1st 9 month of 2021. compared to that same period last year, you will remember the russian economy contract by 3 percent in the same period in 2020 moving to asian markets. the shanghai composite is up by 2 and a quarter percent. gaining roughly one percent on friday alone,

consumer staples and semiconductors close out the week strong for the composite data early friday showed that the services sector group in november but at a lower rate than seen in october chinese, vice premier lu have predicted that the chinese academy will meet expectations expanding at least 6 percent this year despite concerns of its flowing growth. now we have a red arrow for the hung found in hong kong that news of ride sharing giant dd didn't blessing in new york cause shares hong kong to drop at the end of the week. big names like alibaba, billy billy, tense, and mike went all took significant hit on friday as the tech sector as a whole belt that paid moving to japan. the ne k is down by just over one percent. most of the losses came earlier in the week after japan closed its borders to non resident, foreigners in response to the con, very it japan services sector grew at it's fast paced into years while factory output growth hit 4 year highs for november. the ne k didn't re about one percent on friday to close out the week. moving to india, we have

a green arrow for the sense actually up just under one percent for the week. although analysts in a recent reuters paul don't believe the index will rebound to this year's highs on concerns of a coven resurgence and tightening of monetary policy. the majority said, a correction of 10 percent is also very likely any. the economy did grow by 8.4 percent in the 3rd quarter compared to the same time last year. in the same quarter of 2020 india's economy had contract by 7.4 percent as it was dealing with that cove it outbreak that we heard. so much about moving to australia, the assets is down by about a half a percent concern over a new very it weighed on the index early in the week, but did see games on friday with mining oil and financial sectors. each seeing games on friday i strategy as g d p fell by 1.9 percent for the 3rd quarter, but it was much better than expectations from economists in south africa, the all share, it didn't agree for the week next to earlier in the week on those coven fears, but was able to rebound throughout the remainder of the week. the manufacturing

sector in south africa grew at a faster pace than expected as well. now let's go over to rachel with europe and the america thanks ran here. we start in the u. k. where the city is up, the next size best day since july on wednesday. following a rough start to the week with games fueled by bank oil and mining stock policy makers for the bank of england have also raised the question of whether their plans increase interest rates may be put on pause in response to the news of that new cobra. 1900 variance nearby the german dax and the french kac are both in the red. inflation continues to store in europe having a 24 year high in november. as the annual consumer prices were up 4.9 percent, which is significantly more than the 4 point one percent we saw the month before. now this week, germany announced new restrictions for its estimated 12000000 unvaccinated residents. the country is now considering following austria and making kobuck vaccinate mandatory early next year, which would stand to have

a massive impact on the world's 4th largest economy across the atlantic. now to brazil, where the even best buy is up. this is by the news of the country has entered a recession with its g d p falling point one percent, and the 3rd quarter is white. brazil, central bank, employing some of the world's most aggressive interest rate hikes in this year. inflation has hit a 5 year high and i employment remains in the double digits at over 12 percent. now, over in mexico, the b and b is in the green. the countries recovery has also taken a hit as it sy slight contraction in the 3rd quarter of this year. ongoing supply chain shortages and skyrocketing inflation continue to take a toll. and despite multiple rate increases from the bank of mexico, annual inflation is still over 6 percent, which is twice the central banks target. by here in the us, the down the nasdaq and the s n p are all in the read, the latest jobs report show that the economy added 210000 jobs in november,

which was just a fraction of the $573000.00 that were expected, however, the unemployment rate did dropped to 4.2 percent. now this, that also hinted it could begin capering asset purchases faster than it planned. and finally, let's go over to canada and now where the t s x is down to end the week, while 3rd quarter report showed the countries gdp rose more than expected. at 1.3 percent. that canadian dollar took a hit over concerns. the global demand will be impacted by the latest cobra variance. for now the bank of canada says it will continue with plans to increase interest rates in the 3rd quarter of next year. and moving into next week, we will continue to keep an eye on the state of inflation as well as supply chain and the labor shortages and their impact during this holiday season. the

and just weeks after $136.00 nations agreed to a landmark global tax deal. a new report is wording of a loophole that could see some companies continue to pay less than others. i know you're shocked and analysis from reuters is now warning that company will still be able to reduce their taxable income by billions of dollars through the practice of shifting intellectual property to subsidiaries. and other countries that have lower corporate tax rate seems easy enough even though the global tax deal is bad to put an end to such practices the always cd admitted it isn't quite sure yet how the new requirements will affect countries that already have such strategies in place now the report specifically called out the u. s. computer software company, adobe. it alleges that adobe user subsidiary, and ireland to purchase $11000000000.00 and intellectual property, which it then registered as an expense to offset taxes on its profits for the next decade. it also noted that the taxes that we did pay on more than $3000000000.00 in

profits reported and ireland ended up being at a rate of 12.5 percent, which is less than the 15 percent. the new global tax plan plans rather to ensure so we will see where that one goes from there and 5 now for a quick break. but when we come back, inflation is set to spoil the holidays for americans while retailers are forecasting, record, holiday spending fees. it will discuss how inflation and supply chain was our reshaping holiday shopping this year. and as we go to break here, the number that the close the me join me every 1st aid on the alex summon show and i'll be speaking to guess in the world. the politics sport,

business. i'm show business. i'll see you then. me. bank kaiser's financial survival. no, they say made it a central plank support going economy. carbon right now and they stop to madness. a you were told it was bank your eyes and your post. yeah. that it would stop you from having real friends and funding and girlfriend. but what they fail to mention is that you can make thousands of dollars every weekend by simply playing video games. a couple of them for the with georgia resume with multiple to do so please don't don't of course to make video games a high paying job. you have to be gifted and quick witted

with infinite nicholas to live near bottom in the sunset with glove voice. when you mouse storm you mothers deal with the owner. without that vehicle, it will still be just as easy to use. a welcome back as the holiday season is in full effect here in the united states, concerns over the arm across coven, 19 barian, and rising inflation. r officially, weighing on consumer confidence. as we have talked about annual inflation surgery 30 year high as 6.2 percent in october. after months of sitting above the federal reserves threshold of 2 percent. now the conference board says its consumer confidence in next in november fell to its lowest reading since february of this

year, while the survey was taken prior to the news of the latest variant of forums advisor pull. and this week showed similar results. the earlier this week president joe biden spoke about inflation and its impact on americans this holiday season. just about every country in the world is grappling with higher prices right now. as they recover from the pandemic in the united kingdom, price increases have hit a 10 year high in germany and 28 year high. in canada. price increases are the highest they've been since the ninety's. this is a world wide challenge, a natural buy product for a world economy shut down by the pandemic as it comes back to life. even if you're counting for rising prices. the typical american family has more money in their pockets than they did last year or the year before. that. in fact, we're the only leading economy in the world were household income and the economy as a whole are stronger than they were before the pandemic. and as supply chain issues

have raised questions about just how many items will be on the shelf, the president held a round table with business leaders where wal mart, ceo dug mcmillan champion, those concerns a c or with and joining us for more all this is commerce an author of the joy of saving should have providing to that pleasure to have you on boon bus today. we really appreciate it. you know, with all of this in mind, is there concerns back consumer confidence could weigh on the much needed the holiday season. that the retail sector relies so much on well, and thanks for having the exciting. this is a real important topic for us to discuss. i mean, overall i've been covering, you know, retail and consumers for 20 years and every year there's anxiety. am i going to

have a good, you know, sales, retail season and this year, especially, you're going to throw into the mix. you know, we, we still have a global pandemic. we have a new variance. we have a supply chain. that is, is slowing things down. you know, you add to that inflation, so there's an extra concern. now the consumer confidence did drop as you mentioned in november, but it was really more for things that are the big ticket items. that's where the greatest concern is. things like buying a new automobile appliances for the home, especially buying a new house. those things are causing pause in concern in regards to things like gift giving clothes on costing jewelry, things along those lines. i think retailers can kind of expect a good steady, you know, uptake on that. it just black friday alone on the sales were up

a 3rd compared to last year. so that was a good sign. and there's other positive people feel better about jobs. um and you know, we're at a 52 year low for unemployment. so wow. consumers are very cautious to concerned. and so are some retailers, there is some optimism. now, i know you mentioned there when it comes to the rising prices, the supply chain constraints. how do you think that that's impacting the average consumer? i mean, is it changing the way that they're buying or even preparing for this holiday season moving forward? yes, you know, which i do feel that they are. i think consumers are pretty smart, i think, coming out of last year, especially. it was a, it was a shocking awakening. people were unemployed. they were trying to figure out how to rob peter to pay paul is really eye opening experience. and so i think the impact is people are moving forward with, you know, caution. i get a lot of letters from readers and it seems the questions that i get the most are things like, you know, how,

how can i save money or what are the things that i can do because this is no longer affordable for me. and it's going to impact people, whether they have, you know, disposable income or not, because everything is, is, you know, harder to get in many categories of our budget. and also just our own income being able to afford these increased prices. i want to give one example though, i think people should look at what they spend in their monthly budget that has gone up has been effected by inflation. for example, groceries have gone to 3 percent, but if you use smart strategies, you can actually lower your grocery go by up to 40 percent. so i think that that's what people are really trying to do is empower themselves alex. now we didn't book here to tell us to be smart shopper, it's ok, that's just not what then of course i kid, but i want to bring that of course to another point here because another survey from debt hammer dot org from 66 percent of shoppers plan to use by

now pay later plans and take on debt this shopping season. i mean, we've talked so much about debt and how much has been actually accrued throughout the last what? 18 months since the, the real onset of the pandemic here. i mean, do you expect that personal, that to rise as prices to continue to go up and what is the negative impact of that? what can we get is, is a 4 letter word. i mean, you should try to avoid any unnecessary debt. i understand the medical or some type of crisis where you have to charge something. i understand that, but to just buy something because you have available credit. let's take, for example, you mentioned the buy now pay later. well, are you spending more than you really would if, if you had to pay for it right now, and if so, don't, you know, it might not be a good idea. you know, all you're doing is kicking the can be on the road. and you know, i want people to be really cautious when they do the, because you have to read the fine print. what happens if you're late with the

payment or you penalize, do you have interest? what happens if something changes in the period that you have to pay off that, that you lose your job or something and you just, you have to, for what you've already paid. and, you know, let me just touch too. i kind of all over the years on average, people put about additional 10021020 every holiday season on their credit card. they cumulate that debt. if you only meet the minimum payment of $50.00 a month, you literally are going to take 2 years to pay that off. you know what friends i say be very cautious of bringing on extra debt the holiday season. chip a very i really appreciate coming on here. it actually talking about us about being responsible for that calmness and author. thank you so much for joining us today. excellent conversation. thank you. and finally, speaking of items, it will be incredibly hard to get this holiday season. the world's most valuable automaker. tesla the prize dropped a brand new all electric, a tv for kids called the cyber called a village. familiar?

it's because the new vehicle is clearly a miniature version of the full size cyber. quite a tv which was announced alongside the infamous cyber truck. but the version really thursday is suitable for children ages 8 years and older and up to 150 pounds. while being powered by a lithium ion battery, providing a range of up to 15 miles, it can also reach a top speed of a scorching 10 miles per hour. now the cyber quad for kids will also run you about $1900.00. if you could actually get your hands on, i know it's kind of in and out of stock. i haven't checked it within the last several hours. $2000.00. that is quite a toy and some working kids are going now. as jeanette said, maybe going to take on some debt for and that's it for the time you can catch boom bus on demand on the portable tv app available on smartphones, tablets, google play in the apple app store by searching portable tv, portable tv. you can also download it on samsung smart tv or roku devices, or simply check it out at portable dot tv. well see,

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

there is no pinnacle of evolution. everything's flat. a bacteria is the product to full 1000000000 years of evolution. it in a specific environment so away. so in that sense, when we, on the left, you survivors of the end of a long, long process you so as in to the springs at yellowstone, we will not do very well. bacteria will do much better in that sense. this in their interest for some financial pundents to see the value of the currency lose value because they can gain traction on social media saying it's somehow a good thing, but not everybody is undertaken. not everyone is a grave robber. you know, some people are actually out there trying to be productive and lean productive lives. and of course, that philosophy of, oh, the currency is gone to 0 less than 0. and that's a good thing is a, is the, is the, is a mat. lewis o

service delivers $155000000000.00 pieces of mail every year. actually 40 percent of the world's mail right now. the us postal service is in a fight of its life history. 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 into 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 that a big business in money is not about the public and given them a service that they deserve. it's not about quality of training worker. is them out with

ah, breaking toil. forced labor stress. industrial injury. corporal punishment. mm hm. oh no. words with which we're all familiar with the world you live in

abolished slavery long ago. ah. ah asylum seekers, it may have to wait months at the u. belarus. border to get processed. if a new plan from brussels gets to the go ahead rights group say the move throws away the rule book. nursing unions around the globe call for coven vaccine. patents to be lifted, blaming production restrictions for deaths in the developing world. and the constrain will be followed by others if we cannot act. and if all countries in here to single vaccinations tracking and england cancer catastrophe senior medics react to gaming government findings that 700000 potential cases may have been missed since the pandemic we get.