ah, this is boom, bustle and business here you can't afford to miss. i'm rachel blackbirds, warren washington. here's what we got coming up. now, what of the world looked indebted companies is continuing to face issues as a new year begins. we'll get to the bottom of why there's an ever growing group were halted on monday. and 2 of the largest american telecom companies have refused to comply with a call from the us government to delay water, new 5 you services. to take a look at the decision, what it all mean plus will take a look at the energy sector as oil prices about pre pandemic level for opec says it expects the on the current very to be my of, and short live. we'll discuss it on that. we have a lot to get through, so let's get started. and we leave the program with the latest in the saga surrounding one of the world's most indebted companies. chinese property giant ever

grants was of officially spilled into the new year. i was training of shares in the company were halted in hong kong on monday. now the halt and trading was due to the pending release of quote, an announcement containing inside information. although no further details were provided. now the news comes just days after a chinese media outlet reported that ever grant which faces more than $300000000000.00 and liabilities had been ordered to demolish nearly 40 bill that buildings in a southern province within 10 days because it's planning permit had been obtained illegally and must be revoked. and as we've talked about recently, the entire industry is feeling the pain from the chinese government's decision last year to apply curbs on the property sector. in fact, bloomberg is reporting chinese property companies will have to come up with at least a $197000000000.00 in january to cover expenses including deferred wages and maturing box. so just what exactly is the impact of all this?

joining us, our disgust is boom bus co host christy. i are chris. i want to start with ever grand here. what exactly is happening with this call the demolish 39 building. is this about the debt issues we've been seeing here, or is there more to the illegal obtaining of these licenses? while this call to demolish ever grand buildings will definitely exacerbate the debt crisis and make it even harder for the company. so this is a real big shame as the assets are required to be demolished basically, or the sign of force from the government that any illegally obtain permits or any under the table of dealing will no longer be tolerated. now under this new administration. so these are real assets and with this demolition will be worth absolutely nothing and creditors will be left with nothing. so the buildings to be demolished are part of this ocean flower island complex that ever been initiated. back in 2012, they had invested around a 160000000000 yen by 2019. but now the high non government announced that it has

withdrawn sale permits for 39 blocks on ocean flower island number 2 and terminated . sale contracts on $328.00 units, which had already been sold. so thing as ever grants, main source of cash flow comes from the sales of units. this is even more bad news for them. so the government made a public show of p d and alibaba and then the tech industry when they were getting all high and mighty walking on a very thin regulatory line. so now they're bring the hammer down to the real estate sector. so it's absolutely no different than the public flogging that the be got the got. and this is essentially another public demonstration of what will happen if you don't abide by their rules. and the government is especially targeting these companies who think that they're all power for or too big to fail in order to make a point that no one is above the law. seems to be just one thing after another when it comes ever grant. i know we've been covering this, so i'll go over the last here and we saw that the company stock and hong kong last

nearly 90 percent of its value in 2021. so what's the significance in this hall in trading due to this pending release of inside information that we saw on monday? well, shares are normally halted ahead of potentially huge news. and we've seen that with numerous names from impending drug testing results f d, a approval or any news that would result in tremendous volatility and stress on the markets. so it is at the exchanges discretion to ensure the stability of the markets. so every brand shares were suspended from train earlier monday, pending this release of news. and i assume that it is from the fact that their buildings are going to be demolished within 10 days for illegal construction and environmental violations. so the shares were halted as traders digested this news and figured out what exactly it meant because it sounds like terrible news just at 1st glance. at 1st glance, it seems like this is the end of the world forever ground because now valuable assets are worthless. but once the information is actually processed,

digested what traitors and investors fall is that the demolition order and high end will hurt. it will hurt a lot, but it will mainly hurt homebuyer confidence as a whole. every brand is much bigger than the small, high and on development. and i should say small because they are 160000000000 r and b, but the market is now watching the asset disposal progress from ever grand to repay its debts on friday. ever been already dialed back plans to repay investors and its walls management products saying that investors could expect to receive about a $1257.00 a month as principal payments. and this replace the company's previous plan. and mid september, when i promised to pay back 10 percent of principal and interest in the month when the products were due. so that essentially means that it will now take a 100 months to repay creditors. and by that time, the company may not even exist. right, i say, you know, you said it'll hurt now,

but it seems like there's a lot of things that have been hurting ever grand over and over and over again over the last several months. now i want to hit on this before we go because the property companies, it seems like the property sector as a whole, is on the hook for nearly $200000000000.00 in january. a load are their concerns of a property bubble being ready to burst at this point. christy absolutely. the entire industry will need to find at least a $197000000000.00 to cover these material bonds coupon trucks, products and deferred wages to millions of workers. so basia has now urge builders, like every brand, to meet payroll by month, and in order to avoid the risk of social unrest. and this is going to be especially difficult as bond payments for stressed firm are larger this month than november and december combined. so for smaller firms, especially, it's unclear where this cash will come from. as a property bubble is slowly deflating, this means that generating higher revenue from a weakening poverty market will be very challenging. sales, of course, assets will also be sold at a discount,

and they'll be unable to obtain the valuation that they would have merely a year ago. and that $200000000000.00 number that's only january across the entire industry ever ran alone owns more than $300000000000.00, which amounts to about 2 percent of china's g d. p. and home prices in china right now. they've already begun falling for the 1st time in 6 years. so this may be a sign of a potentially big blow for an economy that counts on real estate for almost a quarter of their output. and of course, if that does happen, then we'll be talking about that can take effect once again. boom bus. christy, i thank you so much. thank you. some of america's major telecom companies are clashing with federal aviation regulators over the lodge of 5 g technology. 2 of the nation's largest carriers, a t and t and verizon have refused to comply with a request from the federal aviation administration to voluntarily delay wednesdays launch of their new 5 g wireless services. now the fear from the f a, a is 5,

g services, could impact the airlines and the ability of pilots to safely fly and even land their aircraft. so joining us now as a bus co host, an investigative journalist been gone now been while 18 fi and verizon did not agree to delay the launch of their services. they did offer a counter proposal, correct? yeah, they did, essentially what they're saying guys, is that what they can do is for 6 months they'll dim the power coming from those 5 g towers in order to allow the f a, a to study. they say they're going to dim it to the extent or the level that's being used in france right now. france and other european countries have had similar concerns. there's about a dozen of those countries. they have similar concerns. so what's happening in those countries by law is that the 5 g signal cannot be at full strength, that's be dim. so what they suggested here was, instead of delaying the launch will simply dimmitt. and by the way, this is for about 46 cities metropolitan areas across the united states. for this role i was taking place. so that's the idea right now is that they won't go full

strength. and i guess this is their compromise to be a, but it seems like we've heard so much from these telecom carriers about launching 5 g. this would definitely not be in their best interest at this point, but they also said it's likely to place some new restrictions on flight due to that . what do we know about that? you know, kind of interesting. so the f a is saying, well listen, if you're not going to honor the request that we've made and delay this by, and by the way, the f a was asking for 2 weeks of a delay in the beginning is what they're asking for. and they're saying that that's not going to happen, then they are going to actually restrict certain things. one of the things they're saying is that they're going to restrict pilots from using certain automated systems that could help to lead aircraft in bad weather. and if that is the case, then we might see flights in certain parts of the country, certain areas or in certain weather situations, cancelled altogether. if pilots are not allowed to use those automated systems, the real question that the f b a says that they have is whether or not 5 g coming on specifically on something called a c band is affecting whether or not those systems work as,

as they're supposed to or whether or not those signals coming from 5 g towers would actually interfere with automated system. so the fear is if they do interfere with those automated systems, then it could potentially cause a crash. and if that's the case, we might see some flights delayed because of that or cancelled altogether in certain areas. this is raises the question, i mean, how are we so prepared on this? i mean, it seems like 5 g has been a topic of conversation for years now, and yet we were not ready the week that they're supposed to deploy. well, and i think that's the frustration that's coming from a telecom companies. right? so a t and t of writing or saying, hey, we've been talking about this forever. why is that the, the f a haven't figured this out? why haven't you tested this already? and now you're saying we need 2 more weeks. why would you need 2 weeks? and then by the way, it's kind of suspicious that you're asking for only 2 weeks and you think you can have it figured out in that time. again, what, what 18th of rising are saying is take your time,

then take 6 months to do it. it will dimmitt for 6 months because we're having to do that in other countries. so we'll do the same thing here. but this idea of all our delay because the f a hadn't bothered to check this yet. it certainly does not look good for the f a. yeah. and especially this is one of those stories we really haven't heard a lot about, but yet it seems like this is a major fight because the telecom companies have a lot of money on the line with wanting to launch that by view technology. now at the same time, they're saying that they can point to regulation and france as the standard for what should be applied by the f a here. do they have a point? and do you see the f a as likely to agree to that given the fact that they don't seem to have anything figured out right now? well, i, i don't really have a whole lot of choice here. i mean, the only other option would be if congress got involved and put some kind of a moratorium or band 5 g for the next couple of weeks or months. while we have a figures out. i don't think that's going to happen is very unlikely. it's very hard to get congress to do anything and especially to the f a says they need this

right away. and as i mentioned before, this isn't just france where this is happening right there over a dozen european countries that have been post similar rules on. if i understand that there are a lot of questions about 5 g, about 5 g safety about how it's going to affect humans, how it's going to affect the airlines and other technology. right? so legitimate questions are certainly out there, but how likely is it that these companies are going to be stopped doing what they're doing? also not likely because there's an enormous lobbying on for telecommunications companies and their servants, if you will, in congress, are not going to upset them. so i think it's pretty safe to say they will continue to move forward. and this 6 months demean is probably the most likely scenario. best of the f a a is going to get. yeah, it'll certainly be interesting to see what comes out of this if the f a really explore some of those concerns and we'll continue to follow it as we go along. bends on. thank you for your insight. and as

a 5 g worries and woes word enough for the airline industry, things that only got worse and the new year with the holiday season, drawing to a close and a spike in our current cases across the globe. airlines have been forced to cancel thousands of flight r t. trinity chavez filled us in on the delays. and how the industry is very, it's a new year and a new search. so far this year is off to an unprecedented start. as cases of coven 19 are skyrocketing now up some to 100 percent in the last 2 weeks alone. experts say the amcom variant is impacting roughly every sector, including the airline industry, where 2500000 americans are expected to travel today alone. today and more travel chaos coast to coast. more than $5000.00 flights cancelled over the holiday weekend, bringing the total since christmas eve to more than $15000.00 canceled flights. this weekend's cancellations, marking the worst to day stretch of the holiday travel season and affected passengers on nearly every us airline a month with

a travel travel continuing as an east coast storm approaches with more than 1800 us flights cancelled as of 7 am on monday southwest airlines canceling 400 flights roughly 12 percent of its flights, while jet blue has canceled 136 or 13 percent of its flights. and there is no space the time something with passengers and flight crews slammed by alma cron. experts fear it will only get worse in the coming weeks . the transportation security administration expects over $10000000.00 holiday travelers will visit us airports through january 3rd, but says right now they have adequate staff to cover flight schedules and passenger volumes for boom bust trinity chavez, r t new york. and i'm now for a quick break, but when we come back, opec is once again down playing the impact the arm across varian will have on oil market eyes. prices above the pan demik levels will get into the latest in the

energy industry. net. and as we go to break here, the numbers of the clothes with with oh, driven by dreamer shapes bankers and those with dares sinks. we dare to ask

oh, this isn't an open it. oh, even to see children have been paid for the phantoms house. only have a devout or chicken marsh mom with when i should. he's got a nice many goals and she only built a new violin. mom on is violet, but the mom of yes. my city with me. okay. allow me to book a

book i bought you for obama. people i was like me, i'm not. i knew the challenge. i can only, you know, some young under discussion on, on shows i can redeem with. i mean, oh ah, the the welcome back. the new year is kicking off with more of the same for oil prices as the international bet much mark brent crude surpassed $79.00 per barrel early monday for falling slightly while west texas intermediate hubbard around 70 $5.00

per barrel. now, although the current vary is spreading and coven cases are surging, there continues to be a sense of optimism as major government indicate that they won't call for massive locked downs in response, as we have seen before. now that optimism is also expected to have an impact on opec plus, as the cartel prepared for a meeting on tuesday. and which is likely that they will keep plans in place to continue increasing output next month by another $400000.00 barrels per day. a draft copy of the latest report from opec's joint technical commission said the impact of the latest variant is expected to be mild and short lived as the world becomes better equipped to manage cobit 19 and it's related challenges. so what does that mean for the oil industry? in 2022 was running us out of the gas or david towel, president, approaching capital and todd bubble, horwitz, chief strategist at bob, trading. great, have you both on the show today, but let's start with you. now when it comes to oil prices, this is all based on speculation. we know. so what do you make of the price action

we've seen really over the last week? well, i think you're seeing oil is going to go higher and i think it's going to go much higher. you know, when you have a lousy administration, paul, that has a horrible energy policy and decide to cut down on everything and give the power to opec. you call that a car towel, which is exactly what they are. they're not going to cut us any brakes on price. i would not be surprised as the oil well over a $100.00 or barrel at some point, because again, we gave up our own production. the ability to export, which means that prices are going higher because fossil fuels are used and just a lot of everything we do every single day. and we're gonna talk a little bit of that and ministration action with you as well here. but david, i want to go to that point because the bio ministration has been critical of opec plus for not increasing its output by even more. as oil prices surpassed $70.00 per barrel. and now edge closer to $80.00 a barrel. do use the expect that administration to continue to push opec to do more

i think at the bottom present, and so you will have no choice but to continue to go ahead and call on opec. however, i do think that opec will continue to hold the same line, which is they will do what they think is, and it's best it's own best interests along with supplying the world with oil that it needs. and so i think that the, the, the recent pronouncement that's expect can be delivered. rachel quoted, i think it's quite measured in that they are agreeing to the fact that micron is probably going to be quickly passing. it's not going to go ahead and destroy economic growth, and so therefore, the expected hikes in production output should be continued. however, opec shouldn't get ahead of itself, go ahead. it increases even further. and so what i think we will see, and i think that smart by opec is to go ahead and see a gradual increase in price. it's gonna hit a 100,

i agree with with bubble. and i think, you know, once we hit triple digits, alarms are going to go ahead and sound, even though we've gotten there, you know, through slow boy, right? we've talked about this many times with you david on the show, which is, you know, a lot of times we think about it seems like the binding ministration, say opec, you need to help us break prices down. but opec's real responsibility is how much can we get people to pay without them losing their mind over it now, but we just mentioned there, the bio ministration has also out of this move for at least oil from the state strategic reserve. but that's only really a finite supply. so is all the power in opec plus his hands at this point? and do they have any responsibility to do what the administration says or can the us or should be us at this point be doing more. and i know you going to say yes on that one. i listen. i think that the u. s. should have never given up the fracking in the shell, producing in the 1st place, all at one time, assuming that the you get a project done that isn't going to be done for 10 to 20 years. but opec is not

going to cut us in a breaks, and president biden can send all the letters, make all the phone calls he wants. do you think they really care what he says? all that means is they're gonna hold up supply even further to raise prices further . they have no, they don't have our interest in heart. they have their own interest at heart. they could care less. they are one of our, even though either an ally, they're still really anatomy, and they are part of more part of russia and china. and they're gonna stick to it as hard as they can because the oil was so low for so long. so they have no desire to cut, cut down and or increase production to help united states of america. and certainly opec has no problems that mac and making money as the oil prices climb. now, david, what do you make of that? i mean, i know we're in the 1st year of the, by an administration. certainly biden is coming in with campaign promises that he wants to fulfill with setting certain standards for the country. but are we on this path of doing too much too fast? and is that going to end up creating

a situation where he's having to then back peddle and go back to where we were at the beginning of his administration. so truly ritual. i'm surprised that the body administration went so quickly to its most and, you know, kind of its last resort options. calling out on opec certainly. i think it's been 3 times publicly. i'm sure there's been some other private talks as well. and the release of the strategic reserves, i mean, those are last ditch efforts. we are far from the point of last ditch when it comes to the imbalance between supply and demand. and when we've got another 5 to 10 years to go on this and the pullback by the administration to above this point with respect to, you know, development in this country investment in drilling and production. again, i understand it flies in the face of, you know, initiatives to go green, but at the same time it takes, you know, a long time to turn around the ship as large as in the united states let alone in the world. and so therefore, you know, to go ahead and put a full stop on production in this country and for to allow all sorts of

constituents to put pressure on the oil majors to stop investing. and at the same time, to go ahead and pull out your last ditch efforts in terms of what you can go ahead and throw at opec in order for to get some help. which again, by this point they don't need to help us, i think is incredibly desperate. and like you said, we're really early in the bud administration. right. it's still crazy to think that this is still literally the 1st year. now the other, to that point, i mean, do you see biden's sort of back pedaling moving forward, maybe looking to increase production and then kind of shrugging and saying, we'll look, gas prices are finally below $4.00 a gallon. i mean, where does he go from here? well i, i think they're biting really doesn't know we're worry, wants to go. he's in the middle of trying to fight between the progressive matters and he's kind of in between nowhere. the last good thing that he actually did was re appoint jura paul, which could slow some of the things, but he will pre probably forced to because with his high inflation that we don't

really talk about, you know, when i talk about the cpi at 7.2 percent are inflation is probably closer to 20 percent, but of course they don't count food energy. so i think he's going to be almost forced to go back because his letters, in those words mean nothing to those who could care less about what he says and that would be opec for sure. yeah, certainly a lot of day care and we'll have you both on to discuss it as we move forward. david, tall of protein capital and todd bug horwitz of brother trading. thank you both so much for your time. thank you. and finally, we all know that keith have been hot over the last year with collectors and investors ponying at big buck to get their hands on those digital assets. but if you spend hundreds of thousands or maybe even millions to be the owner of an f t work of art, you may wonder how you will be able to display it so you can become the envy of all of your friends. well, the folks that samsung apparently have you covered as their 2020 to line up

a state of the art tv will support showing off. 7 the f t r even using the screens technology to do a just display settings to match the creators vision. now the consumer electronics jay has embraced the technology so much. the new suit will also feature what it calls quote, the world's 1st tv screen base and explorer, and marketplace aggregator essentially allow users to browse and buy f t 's right from their couch. now this is actually really clever because i know whenever we talk about and she's really ok, you spend all that money on it, you, when the bidding war. but how are you really going to show it off on, on samsung has been clever, actually giving you an opportunity to do so. now you can watch your $1000000.00 and a fee on a $1000.00 digital picture frame. apparently that's where we've gone back to the early 2000 and at this point, and that's it for this time you can catch blue bus on demand on the portable tv app available on smartphones and tablets. google play in the apple app store by searching portable tv, or it will be, can also be downloaded on samsung, smart tv and roku devices, or simply check it out at the portable tv. well see you next

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ah, global pandemic, big profit bomb, a giant, another bump it critic say. the u. s. democrats have not brought in sufficient regulation. a closely followed settlement between the convicted sex offender jeffrey epstein, an 8th accused of virginia. 23 has been made public that the head of a critical hearing involving the british well families, prince andrew, also 19 years 10 months and 25 days on. this is a very good legacy. off the look back at one of the defining moments of last year, us withdrawal from afghanistan, which brought the country the brink of collapse or correspond that was on the ground next week during the height of the christ. if you can find full coverage on r t dot com.