i. christy i want to start with the fed is the fed is backing itself into a corner. thing that has inflation is transitory. what happens when it's not a good question then the fed will be away behind the curve and it'll just be too late. so the fed has continuously underestimated the increase in inflation and still expects that dropped back down to around 2 percent in 2022. so i think that kind of wishful thinking to me because in the last year and a half, the fed has introduced more broad money into the american economy in the shortest time than we have ever seen at any point in american history. so given that i don't see how any inflation here can possibly be transitory and be there now expect for us inflation to remain elevated for the next 2 to 4 years and remain in the 2 to 4 percent range. the analysts went on to say that it was, quote, an a so many dean inflation as transitory when stimulus economic growth asset commodity housing inflation are all deemed permanent. so the 1st half of 2021 is now drive into a close. and now lation hawkish, central bank speaker,

let's ask our tea boom bus. co host, christy i and christy because so much washington noise is intended to confuse 1st things 1st define inflation or inflation as kind of what we said when we the customer have a decline in purchasing power is in our default currency over time. so this basically comes to the general level of prices rise. as you said, gas food commodities is everything becomes more expensive. our $100.00 won't buy as much as it once did. but on the other hand, it tangible assets also rise. so if you hold any sort of stock commodities, property real estate, you would actually be happy because inflation raises the value of your assets. on the other side of the trade, if you're in the market to buy property or stock, you'll not be so thrilled. so that's why people don't like holding cash during periods of inflation as a purchasing power of their dollar gets eroded just sitting there in your bank account. because given the current levels of interest rate, they're actually losing money by having it just sit there in a bank. but in place you want the optimum level. you may as w

so for more on all the let's bring in boom, but co host christy i. now christy, as i just mentioned, this is a 3rd high level trade talks between the u. s. and china and just 2 weeks as any progress actually been made or is this just about politics call right now. the exact details surrounding the latest round remains scarce and washington haven't yet even issued an official response. so there are hopes invasion that a more rational approach from the bite and ministration could lead to a reduction in tears and further easy restrictions on chinese companies. but no, i don't think any real progress has been made here. a lot of it is just smoke screens and politics gives the illusion of work and dialogue and that progress is being made. it also keeps the headline busy, especially in tense. geopolitical situations like what we have here. and furthermore, i definitely think that this was a staged a little pony show, given the timing of all of this right ahead of the g 7 summit which will be held from june 11th to the 13th in england. so high on violence wi

let's bring it to bus. co house, christy. i know christy, we hear a lot about this being aimed at tax dodgers. but what are these scenarios and who's actually being targeted here? while this entire deal is pretty much aimed at multilateral company, such as amazon, google facebook in order to squeeze more money out of the private tech sector, which has been one of the most profitable sectors of the past decade in order to find the public sector and all the debt that they've brought up during the kobe pandemic, but it's also aimed to reduce their incentive to then shift profit to low tax offshore havens. so it's estimated that hundreds of billions of dollars could flow to the government, which would essentially amount to legal robbery if you think about it, changing the rules in the state of play midway and forcing the private organization to adapt and pay for the jain norman's blunders and inefficiencies of the public sector. so the current global tax rules date back to the 1920. and it has been recognized as the standard and ac

christie's point. could this actually have been done without including china's name at all? i mean, what specifically is in the bill and what will it pay for? well, it really could not have been done without invoking china's name. and the reason for that is because exactly what chrissy joe said, which is that the u. s. congress is so deeply divided. it can't agree on anything. republicans in them or crowds have virtually nothing they can agree on. but one of the few things they can agree on are certain buzzwords, like we've got to be tough with china. so for instance, in this bill, what it really is about, it's not about stopping china from doing anything. it doesn't sanction china in any way, doesn't punish china in any way. what it does, it takes us taxpayer dollars at enormous amounts and a lot of them to pet projects in the name of competition, which of course, isn't truly competition. so for instance, just a couple of things here. $54000000000.00 and this bill is going to go to increase us production and supply of semiconductors. now we've talked about this quite a bit on

now, christy, what do you make of this move? i mean, is this a positive move for salvador to become less reliant on the dollar and good for bitcoin as well? well 1st of all, i just had to agree with everything. been said that it was amazing. but speaking of the i am, i said that they won't help. but meanwhile, the central american bank for economic integration, which is a 15 member country so that they will instead provide technical assistance to help el salvador implement bitcoin as legal tender. so the, the a, b, i, executive president dante mossey, he's actually really optimistic about this move and that it would actually offer many benefits to the country citizen. most importantly, it would lower the cost of remittances for relatives of salvatore and living abroad, which makes a huge portion of their g p. so fall, i moved to make the point legal, tender. lawmakers and a number of latin american countries have expressed their interest in bitcoin. as well, this includes paragraph argentina, panama, brazil, mexico. and then you a

and just one more thing on the, on the cyber hacking, you know, i agree with christy saying about, you know, what are you actually going to do about it? but i think one of the reasons that the u. s. hesitates to put any real kind of strict sanctions as a result of that is because the u. s. is doing it as well. the fact of the inner state constantly does is in the ca doesn't we know they say we're talking into anglo merkel cell phone just a couple of years ago. right. and so if you create a big deal out of punishing countries that spy on other countries, well then the us would be right in the cross hairs of their own policies. but you know, to the question of creating a stable, predictable relationship. i was watching the news conferences afterwards and there was a very interesting question that was asked about ukraine to pollutant about what, what about creating stability there and you've been the state life in the region. and his response, i thought was pretty interesting. he says, it's not russia that's the stabilizing. that part of the world is the us. he says in ukraine, back in 20

and that would paint us as a giant hypocrite and boom bus co host, bon swan and christie. i thank you so much for cover both the stories for us today . thank you. would you be shocked to hear that some of the wealthiest people in america had years where they paid very little or even nothing in federal income tax? no, i really didn't think so. a new report from pro public outlines more than 15 years of data from the i r s, which includes tax returns from 1000 of the richest american. so who are these people and what did they pay? we might heard of this $1.00 amazon founder jeff bezos, who's currently the countries wealthiest person paid no federal income tax between 20072011. now, much of that was due to the fact that his income was offset by losses in investment . and in the 5 years from 2014 to 2018 basis as wealth grew by nearly $100000000000.00. but he only reported $4200000000.00 in total income and paid just under $1000000000.00 in federal income tax. now the country, 2nd rich man, catholic, the musk, when he saw his wealth grow by nearly $14000000000.00 over that same

it's about getting a bunch of pork pushed through in the name of us independence and christy. i want to hit on one more thing because we're almost out of time here, president vive non, when's actually revoke to trump era executive order that sought to ban tick tock and we chat and replaced it with one that calls for a broader review of a number of foreign control applications that could pose a security risk to americans and their data. is this a better solution to dealing with those companies? no, and i really don't see any better way of dealing with a situation like this. because if the intent of the ultimate intent is to actually ban or restrict access to all these for an app, the us wants to do something like that to take talk and we chat in effect, it'll be doing exactly what it's always been criticizing china of doing by banding google and facebook and given that tech talk and we chat are all technically social media messaging posting platform that would effectively be censorship. and that would paint us as a giant hypocrite in the end boom bus, co host bend swan and christ

i o. t devices, artificial intelligence, virtual reality, and of course more video streaming. no, aaron, to christy's point, i apologize, i didn't prep you on this specifically, but when we talk about broadband, satellite internet specifically is space x best poise to make this profit early because they're getting started on their star link internet constellation. is that going to be a big boon for their, their bottom line to help them push this even further? absolutely, i mean, we're talking about trying to industries that are highly, that are commodities, right? like we're talking about transportation and communication technology, which are there's a lot of demand for that and having a vertical life industry that can one. you can get space really cheap on your own. then you know how to manage it. you manufactured us, those vehicles, the operation of it as well, and then you're operating these satellites and can manage your own schedule and really be in control and all that which are a big issue of the launch industry is just making sure that we have enough launch capacity and space ex can control f

another comment on christie, i michelle snyder. thank you both so much for your time and insight. in the western united states, the area is seeing its 2nd year in a row with severe drought. these overly barren conditions have taken their toll from their rocky mountains to the pacific coast. r g is natasha, suite has more on the impact. the severe weather is happening on people crops and even the power supply after tracking one of the earth hottest years on record, the u. s. is western states are seen a direct impact according to a recent report from western monitor more than 88 percent of the west is experiencing severe drought from california washington to idaho in montana some 58000000 people live were some of the dr. conditions are happening, the majority of california is in some type of drought. state has some 500 reservoirs. officials say they were 50 percent lower than they should be at the beginning of june. however, parts land doesn't just mean dried up water resources. it also means increasing the chances of an out of control fire caesar. the golden state has already seen

i don't know. maybe it is a. m. c, christie kind of balloon to a record market cap here of $33000000000.00 and this training prince. he, it's lead just as we mentioned, several trading holds as it serves more than 100 percent health wall street feeling about this. and honestly, why shouldn't mean traders be doing this? i mean, if they have the ability to wall street does this kind of thing all the time, why can't the average joe do it? exactly. there's absolutely no reason why they should and right now whether they're just getting a kick at sticking it to wall street and basically popping all the short sellers. but at the end of the day, it doesn't make any sense because he has a market value about 30000000000, as he said. and the theatre has been closed for most of the pandemic. they're expected to lose money this year and next. so most people short the name feel that it's overvalued and right now, even with the economy reopening, that still doesn't change the fact that the company has about $5000000000.00 in debt and need to

excellent, pointing and center here, and i think no one breaks the complex topics down quite like the 2 of you do. and so on, christie, i thank you both so much for your time. as inflation continues to rise in the us, the latest report from the labor department shows that producer prices climb 6.6 percent in may alone, marking the largest annual increase on record at the same time consumer spending on retail with down 1.3 percent. despite only point 6 percent being expected, americans reduce spending on cars, furniture electronics, and building materials has locked down through lifted and they turn to spending on services instead. so joining me now to go further in depth on this topic is octavia marines. the ceo of openness, i'll see now octavio in the last year. producer prices have now risen at their fastest rate and over a decade. does this come as a surprise and how big of a role have supply chain shortage is played in those numbers? well, i think it comes as no surprise at all. i wouldn't necessarily blame supply chain shortages, but it is interesting if you look across producer prices, commodities, energy, almo

let's bring in, boom, boom, co host christy i and shell snider. she's a managed director of the market gauge group and author of the best selling book, plant your money tree, a guide to growing your wealth. thank you both for being here, christie. i want to start with you, you know, policy based questions from law makers after the fed recently kind of changed its tune on inflation and a rate hike. what have we learned and can you break all this down for us today? well, most of these remarks are actually prepared remarks are largely in line with all of the comments made previously in the june 16th press conference, but after a roller coaster right across basically all the classes in the last few days post f . c. cheaters, we're paying very close attention here. so it appears a power kind of doubling down on its very w narrative to offset his last message. the only bit of surprise came after the last meeting, which was that a big taper pension did not materialize. so that was a little bit of a surprise because when the fed official started talking ab

but i know this conversation will continue because crypto currency and billionaires comments on it or going anywhere and so on. christie, i thank you both for your time and insight today from one currency to another. the us dollar is showing its best performance in over a year as wednesday markets highest one day gain since march 2020. the dollar rallied in response to the news that the federal reserve is planning to raise interest rate sooner than expected. that also admitted it has raised its expectation for inflation as the price continues to increase all around. but the federal government has no plans to decrease spending with nearly a dozen republicans saying they would support a one trillion dollar compromise to the buy ministrations latest spending plan. so joining me now to go further and job on this is tobin smith, b o, a transformative research. now tobin we have the fed acknowledging that inflation is here and it's higher than expected. but instead of changing their policy now, they continue to be in this talking about talking about making changes. so why do you think they haven't moved to take more action i

so it's just, there's a, i really listen to what christie stanon and yes, and may not be a forever thing. but i do believe that there is now going to be targeted stocks that get over shorted by firms. and the fundamentals may or may not agree, but like she said, it's true. we're going to see the stocks continue to fly. and it may not necessarily always be the ones that we've seen recently, but i think we can see some new ones emerge. i think cannabis now is a target. let's watch for till ray went up crazy today. we'll see what happens tomorrow in christie in terms of this, this mean stock kind of phenomenon, the mean trading phenomenon because it's also true of those corner as well. right? doesn't necessarily have value except for the value that the, the buyers decide that it has. they're the ones you choose to invest in it. but when we're watching kind of these mean stock go up, is this a fad or do you think it's going to kind of redefine the way the market's run based upon how the crowd views it? i think right now crowd trading is definitely a thing because people have this mentality t

now, christie, i want to turn to another area here. we saw that after yesterday's bank run on the iron finance protocol, which was backed by billionaire and mark cuban. he is apparently now calling for more regulation in the crypto space, especially for stable coins. what do you make of that? all i think the building i got his feelings hurt and now wants consumer action. so i am finance was a partially collateral life table client, which is very similar to how the fractional reserve banking system works when people panic and run to withdraw their money in a short period of time that causes a bank. right. and that's exactly what happened here. what's really funny is that cuban was the crypt and now he turns around and wanting us to regulate smart contracts. so cuban even admitted that he was quote, being lazy and not doing enough research. he said that he would quote, too lazy to do the math to determine what the key metrics were. so that's actually his own fault, not doing your research and yellowing into a bad investment while pumping

i think it's safe to assume that for the time being we're quite a long way away from that boom bus. co host christy i. thanks so much. thank you. alright, time now for a quick break, but when we come back, inflation is on the rise in the euro zone as the block begins to reopen. could the surge be a sign of things to come in a post and then pen demik, economy, post pandemic? some like that, we're going to discuss that as we go to break. here are the numbers of the quote, the ah ah, when i was shot the wrong when i was just don't rule out the thing because the after an engagement equals the trail. when so many find themselves will depart, we choose to look for common ground in i met my lovely weekend and um, she wanted me to get me the gotta go through the or up the kitchen table out them out. i gotta get my, don't get a get. she will put it on the shoulder. wait for the meeting. brittany, home. like he's in this lamp, me by little by now. and then because you guys are not the man why or why not what i mean? well ahead of us president joe biden's, upcoming trip to europe. germany is reaching out with

i think it's safe to assume that for the time being or quite a long way away from that boom bus. co host, christie. i thanks so much. thank you. alright, time now for a quick break, but when we come back, inflation is on the rise in the euro zone as the block begins to reopen, could the surge be a sign of things to come in a post and then pen? demik economy post tend to make some like that. we're going to discuss that as we go to break. here are the numbers that the quote, the ah ah oh, the, the the price of the stuff are going up and people are mentioning this that the price is for energy, food, transportation are going up at a alarming rate. and the government is telling us that don't believe your eyes, that that's fine places and people are starting to question whether or not that governments might or might not be out of their mind. the well ahead of us president joe biden's, upcoming trip to europe. germany is reaching out with its officials to hold talks over the continued development of the north string to pipeline. as we've reported that pipeline, it would carry natural gas and oil from rus

i think it's safe to assume that for the time being or quite a long way away from that boom bus co host, christie. i, thanks so much. thank you. all right, time now for a quick break, but when we come back, inflation is on the rise in the euro zone is the block begins to reopen. could the surge be a sign of things to come in a post and then pen? demik economy post tend to make some like that. we're going to discuss that as we go to break. here are the numbers at the club. the me, i join me every thursday on the alex simon show. when i was speaking to guess from the world, the politics sport business, i'm show business. i'll see you then me. i met my lovely weekend and obviously wanted to know me and johnny douglas gave me the gotta go through the the or up the kitchen table out them out. i got a good model. she will put it on the show that the lady told me didn't bring home lucky vendors who did the lamp, me up and everybody who bought by little my uncle behind then because you guys are not the man why or why not what i mean? what is the future of the republican party? is that future something do

to respond to these stories and more christie, i want to start with you. can you break down what has been happening with bitcoin price over these last 24 hours? quite a lot has happened in the last 24 hours. there's been quite a lot of volatility when, especially when the 30000 level broke. now that was a key key, technical support level of resistance for big quite and right now you had and breaking 30000 was basically like having a damn break. so as soon as that broke, they're going to plunge down to 28, but that as soon as they plunged 20, then you see a wave of dip buyers coming in, pushing back quite back up about 18 percent for the day. so even though i felt red fell red briefly for the year, they're quite quickly rallied up to about 345 in the afternoon, sweeping the rest of the all coins along with it. so i think that right now, this line of this line at 30000 is the line in the sam. it's very reminiscent of the 4000 dollar line back in 20192020. when bitcoin just kept on trading sideways around that $4000.00 mark, not breaking it, breaking it a cou

christy. i want to start with you, you know, policy based questions from lawmakers after the fed recently kind of changed its tune on inflation and a rate hike. what have we learned and can you break all this down for us today? well, most of these remarks are actually prepared remarks that were largely in line with all of the comments made previously in the june 16th press conference. but after a roller coaster ride across basically all after classes in the last few days, post f. c. cheaters, we're paying very close attention here. so it appears that kind of doubling down on his narrative to offset his last message. the only bit of surprise came after the last meeting, which was that a big taper tantrum did not materialize. so that was a little bit of a surprise because when the fed officials started talking about pulling back on central bank easy money, policies, back in 2013 investors bought and yields on treasury rose, all volatility and star jumped so fears of another temper tantrum had preo

not witness the moment, the solution is enough for me that i witnessed this moment me when i finish. christie disappeared now for 7 years and 9 months typically we haven't done. we don't even know if a life or not very gene is actually using this detention and enforce the syrians and not only to empower those who are in detention and in prison, but also to this empower there. ah, ah, the very 1st agent damascus that i saw with my own eyes, people that philip here today and they still have that hope. okay, we did this. it looks like, you know, what i'm just trying to are not about who each other is, but the rest of the world is when i am in a row with other theory and i still have the same feeling. i'm excited. i am empowered, but at the same time i'm sad and i'm because every time i'm inappropriate, i see the faces off my bad and those many others whom we are close. i very for those me if you want to find out more about, well falling the staff of campaign to seek the truth about what happened to her father. you can hear more on algebra podcast the take. they put together a really powerful epi