Major news on the health care front google has reportedly partnered up with one of the Largest Health care providers in the nation to Access Health information belonging to possibly as many as 15000000 americans across 21 states the wall street journal reports that google has one access to Health Related information through its partnership with ascension which that is the largest 2nd largest me 2nd Largest Health care system in the u. S. Through a collaboration code named project nightingale so what kind of information will google have access to how about lab results doctor diagnoses and hospitalization records just to name a few insured google now has access to a complete Health History including patient names and dates of birth from the journal quote google began project nightingale in secret last year with the st louis based ascension a catholic chain of 2600 hospitals doctors offices and other facilities with data sharing accelerating since summer but heres the kicker with all of this happening neither patients or doctors were notified so of course the 1st question thats going to be raised does this agreement fit within hipaa laws which are designed to safeguard to protect medical information ascension says that it does and that no hipaa laws are being broken. But we also now know this that at least 150. 00 google employees already have access to much of the data on tens of millions of patients again google insists that they are in compliance with federal law so the next question does this agreement put your private information at risk by allowing a monster tech company like google to have access to this information and how will google use it to answer that question were joined by dr John Dombrowski a Pain Management physician with the Washington Pain Center thanks for being with us so when the wall street journal broke the story monday google admitted that ok you know its not a big deal you know a lot of doctors and patients dont even know whos handling the back end of technology acting as if this is a department right now thats not at all what this is as a doctor number one is it common to know where those d Health Records are going and secondly how different is it when those Health Records are going to google it makes a big difference now we have Electronic Medical records everyone is digitized before when you have that paper record no one knew you had tremendous privacy the government has forced physicians to be digitized so its easy to access that record data birth Social Security numbers diagnosis all this is very important and again id really this is news to me now theyre going to say the happy face of google we want to make your life easier doctor better diagnoses smarter diagnosis better lab reports for that i applaud them but this data has tremendous value multimillion dollars whos going to get the benefit of that does the Health Care System get that money that theyre being for or whatever so thats very important other thing that i find interesting why do you need to know patient names why wasnt blanked out or social hows that relevant maybe your ag or sir where were you live ok that could be helpful hypertension demographics not so helpful but these other things thats kind of curious for sure now google appears to be using this information to design new software which would be underpinned by a i Artificial Intelligence and machine learning. Which would then 0 in on patients and suggesting changes to their health care and if thats something that could be useful are does that undermine the actual role of a doctor or a physician i think we as physicians eat as many tools as possible and thats great i applaud technology but i dont want technology be used to short circuit the doctor patient relationship that is 1st and foremost we now see patients will go on google and they look on the internet this is my diagnosis they come to me to tell me this is what i have a goal thats a good start it starts a conversation but you should never forget what medical education is about all these tools are great but they should not you know forego medical education for sure something about this story stinks several things i think one of those is the fact that google has said to the reporter so far who have questions about it that no money changing hands were not even paying for this were just doing this for free nothings free you know but we also know in our own firm friends that is reporting on this later tonight that there are reports that ascension in the walky for instance was getting ready to close maybe 4 hospitals this was in april of 2018 theyre going to close 4 hospitals were talking about that possibly scaling back another 4 hospitals and then suddenly they got an infusion of 25000000000. 00 and no one seems to know where that came from i think well probably find out soon but suddenly this money you know kind of floods in and then they start acquiring companies at the same time a big shift for a company that says were about to close hospitals and now suddenly is doing this what google is doing is theyre taking medical information on possibly as many as 50000000 people and theyre using it to build out a Business Model and this is clearly not being done for the greater good this is developing business so the question is why shouldnt google have to seek permission from these individuals if youre going to build a business based on health care and develop these tools why not seek their permission to see that the state of california the state of california has to make made laws that say if youre getting this information on our public you should pay me for the. Information is valuable information is power and that creates a lot of money and i actually had a hostel here in washington d. C. That closed i used to help out there teach there so its very funny but i mean they its a catholic they do a lot of good work and they certainly do need an infusion of cash and perhaps google has provided them now google isnt the only company whos pushing for access to developing health care tools facebook also recently announced a Similar Initiative to create a system that takes user profiles to recommend health care checks but what google has done goes far beyond this so at what point does Technology Start interfering with the Health Care Sector rather than supporting it so lets take the positive you know i see you have these eating habits or Something Like that you go out a lot you know maybe you should to cut back on your salt or your caloric intake or some guy and then that starts again the conversation but again sometimes they could be very intrusive how do they know i was looking to go to the bahamas you know all this sort of stuff but im just going to say a very happy way that made this information could be used for good obviously its a double bed sword we always have to be cautious with that and certainly patients or the Health Care Industry should be paid for this very because were going to create a bill multibillion dollar industry for you for keeping these patients healthy and fascinating story well have to keep up dr John DombrowskiPain Management specialist at the Washington Pain Center thank you so much thanks. Troubled we work start up now controlled by softbank is in discussions to hire the infamous fixer john the c. E. O. Of teen mobile and managed to turn t. Mobile around from a distant 4th place lagger amongst us wireless carriers into a strong 3rd place competitor and is in the middle of a merger with sprint that could turn the company into a formidable member of the industry soft bank is intent on turning the company around announcing to investors last week a 3 step plan to cut costs we work still hope to eventually go public once its current mess is behind it and the bears name is 1. 00 of the 1st names to pop up as a potential leader for we work as a team mobile and we work apparently run in the same circles softbank is a majority owner of sprint and played a role in installing sprint c. E. O. Marcello clar and carr who is also a we work executive chairman then helped to orchestrate the 26000000000. 00 merger with t. Mobile where legendary is expected to step down from the c. E. O. Position once the deal with sprint is completed and that is now one of the many candidates being considered for we were. Some very big news for a big point on tuesday is the Chinese State news agency actually published a front page editorial on bitcoin for its millions of readers know china has long had an official stance against big coin even though there is a huge underground market in the country but the official chinese stance on big coin has been warming for instance the state news out of the peoples daily recently called blog chain a breaking point for the country to overtake with this latest article which for the 1st time actually focused on big point itself acted as an explainer of big and it marks a significant policy change toward the worlds leading crypto currency again this in this is a very big deal because the article refers to big as the quote 1st successful application of Block Chain Technology. End quote and that is leading to speculation that china could be considering lifting its controversial ban on big going trading which was imposed in 20172 other things to keep in mind one just 2 weeks ago president actually urged the industry to accelerate the development of Block Chain Technology and to just one week ago china quietly removed him from the list of Economic Activities that were no longer to be encouraged and this you know kristie you know this is a very big deal because if president moves in this direction and they actually legalize big mining and push for big point i mean you could see that that number skyrocket has a full strength of the Government Support behind it and thats the thing when youre looking at a one party system such as china when they decide to do something the entire country follows through in a very very powerful way weve seen that already in the last 2 decades where china said were not going to be a manufacturing country anymore were not going to be made in china anymore were going to be consumed in china after that within a span of 20 years the entire nation turns basically from a Manufacturing Base country into a consumption based country and thats something thats so impressive in order to lift that entire 60 percent of population like that and then its true to the chinese are much more ready it feels like to pursue bitcoin than probably any other major nation in the world because theyre so technologically advanced theyre champing at the bit for it so its kind of interesting too that president xi is kind of becoming like hero in the big korean world that theyre starting to see him in this very positive way exactly and as you mentioned the entire market was previously underground so now they finally have a chance to come back up when 90 percent of trading is already in asia and china is the undisputed leader of the coin mine in the 1st place its a big deal tire hang here for a quick break but hang here because when we return fires continue to blanket many parts of california but for many the fight for their homes has just begun arky correspondent attach a sweet brings us the latest on the controversy. The major energy company. Store for what would be the worlds 5th largest economy. The Federal Reserve is back in the headlines for everything but does this foreshadow gloom for the Global Economy author and economist steve king joins the shell after the break it into the data and as we get a break here the numbers that the. People or or specter of socialism 30 years after the fall of the berlin wall socialism is now remarkably popular what explains this how to explain why so many successful and even privileged people look to socialism to solve social problems maybe its because liberalism itself is failing. Time after time corporations repeat the same mantra sustainability. Transitions to sustainable transport sustainability stay number man or a more equitable and sustainable world. They claim their production is completely harmless. It. Companies want us to feel good about buying their products while the damage is being done far away this is something this must be. Understood. As a tense situation in venezuela is still all over the news the problem in venezuela is not that social. Has been poorly implemented but that socialism has been faithfully implemented for inside venezuela things look different were going to announce sanctions against a troll venezuela socio. Political moment to. Get out of that. Battle so on the. Moment. The who story isnt new Nixon Henry Kissinger to tell on. Not be tolerated in latin america. An alternative economic and social system could take hold and therefore the policy would be to make the economy scream so wants now making the economy of venezuela screed. Another day another piece of bad news regarding jewel the latest the Cigarette Company has announced it will cut 650. 00 jobs in an effort to cut nearly a 1000000000. 00 in costs next year joe had previously said it would cut only 500. 00 jobs this latest announcement means the jewel is cutting about 16 percent of its workforce this is on top of the announcement from september in which jewel announced that it will cut Marketing Spending as it halts all product advertising in the u. S. Instead the companies are going to focus on Advertising Products only to smokers not sure how you do that but jewel has been hammered over the past few months as it has been largely blamed for teen babying which some especially politicians are referring to as a crisis in fact also in september the trumpet ministration remember this they announced that they were readin a ban on flavored cigarettes jewel and all other east Cigarette Companies must submit applications to keep their products on the market to the food and Drug Administration by may of 2020. As stocks by the California Telecom takes a massive hit the company is still sorting out to have a 1000000000. 00 insurance payout the claim is working to cover losses for fire last year deemed the deadliest wildfires in the States History but now the governor of california is hoping to delay the settlement r. T. Correspondent natasha suite explains why from los angeles. The way it stands right now if any moves forward with the 11000000000. 00 payouts insurance carriers and hedge funds would be compensated for the losses tied to last years wildfire in paradise fire victims see it as a slap in the face and believe more needs to be done for those who lost their homes and businesses. Number were holding on to Jennifer Simmons and her son hunter walk with their home once stood now in empty fields. Beautiful. They escaped the deadliest and most destructive wildfire in california history with their lives lost everything they own you know there is a whole life they are playing their whole life. It works still hurt to get it its been one year since the wildfire killed at least 85. 00 people and destroyed about 95 percent of the town of paradise blamed for causing the fire is buried in every one of its power lines in paradise underground. But that in itself is simply not enough the utility giant agreed back in september to pay an 11000000000. 00 Insurance Claim settlement but now governor Gavin Newsome is saying the deal is premature this is where the controversy for residents lies according to Court Documents insurers have paid out roughly 16000000000. 00 victims in california but many insurers sold off their claims against p. G. You need to investors like group l. L. C. Which owns more than 6000000000 dollars worth and Abrams Capital management which owns a whopping 72000000. 00 the Court Documents reveal about post also owns 4. 6 percent of p. G. And e. Stock an abrams 4. 7 percent is the payout goes as planned reportedly make quite a profit enough to even offset the losses its taken on its Stock Holdings from p. G. And e. Shares dipping shares fell 1. 5 percent to 638 day but solace like gains tuesday 9. 6 percent insurance proposal is scheduled to be discussed wednesday in the Us Bankruptcy courts in San Francisco and in the meantime a Wildfire Assistance Program has been set up by the Bankruptcy Court with money from p. G. And e. 105000000. 00 will be spread across 100000. 00 victims for basic needs not already covered by fema and los angeles and harshest suites. The new york fed added 112000000000. 00 to the Financial Markets via temporary operations tuesday the liquidity additions came in 2 parts one was an overnight repos tolly 76940000000. 00 and the other 35000000014. 00 day repo this was all done in order to help maintain the fed funds rate in its target range now when the fed 1st started pumping billions of dollars into the repo markets back in september they said this would be a short term liquidity injection that this was a Technical Glitch due to the end of quarter and Tax Obligations yet 2 months later the fed continues these emergency interventions if this was a short term plumbing problem why is it still continuing then when the problem still persisted the fed announced that it would resume pomo injecting 375000000000 each year for the next couple of years apparently this is not to eat because the fed will do so organically but language games aside its q e on steroids the feds bailout operations have increased its Balance Sheet by over 250000000000. 00 since september and now its not just a short term liquidity that has dried up but it has spread to the c. L. O. Markets collateralized Loan Obligations market fell 5 percent in october while the equity index has soared to new all time highs these declines in the 680000000000. 00 market could be a warning for the one trillion dollars junk bonds market at c. L. O. Bonds are made up of just below Investment Grade or leveraged corporate loans traders are worried about the health of the market as the double b. Rate is c. L. O. Bonds are now just about 5 percent higher than the yield of similar junk bonds and that is the widest spread since early 2016 when declining oil prices triggered a massive sell off in leverage loans and with more we bring back. Of economics and. And all. Pair of can we have boyd another financial crisis so steve were seeing some unprecedented growth in Central BanksBalance Sheet right now it is growing at literally twice as fast as the last time they enacted q e so what are the repercussions and impacts of this on the Financial Markets. Well the feds been playing the law supports the Financial Markets since 2010 and of course in the cross itself when banki in the belief that pumping up reserves would create loans which is the stupid to export model the mainstream economists till he assume that totally change the nature of the ive been off market so they used to maintain the Federal Reserve right by using oh the floor and ceiling or color approach where you you have a you have a target in the middle and you can basically because this is a trivial level of funds in the market itself you can slot it is going to die early buy shoes and maintain it within that house that the senate band but when they decided to pump these asks in an enormous sky i mean they the q e was huge what the negative was even even bigger than that ses rescue during the beginning of the at the early stage of the financial process thats completely changed the nature of the market and i think thats forgotten what to do thats half whats actually going on here the experience they had theyve lost over the last decade theyve introduced in a brave new world that they dont understand themselves and they dont understand themselves so the 1st round of quantitative easing back in 2008 it didnt really do what was promised it was supposed to be this infusion right that was going to restore the economy and get things rolling again but as he said it kind of made us an addict it was like being injected and now we cant get off this thing. Absolutely i want to go back in 2012 which was the early days of curious began about 2013 that was the the ninetys panic rescue during the cross which is back in september of 2008 which at thats where you were thinking about there and he trembled for my 100800 1000000000 to 2. 4 trillion it literally in in one month but when they began q. E. The philosophy was that this would generate a wealth of 6 and the wealth effect would cause consumers to spend more and that would boost the economy and fix everything up well 1st of all the wealth effect only into the wealthy. If because they were boosting the process of existing shares remember they had the s. And p. Bottomed at 666 i love that number 666 points and then was turned around by q. E. You have towards 4 times that and its holding the case of the the the reserve of the bad being theyve been flooded with by borrowing junk arms off the Financial Sector or otherwise known as q. A. Theyve got to do something with the cash they buy shoes and that benefits the wealthy not the not the poll now we know the full spend money when they get it we know the wealthy pretty much relatively speaking darrent and in fact even the Federal Reserve published the piper saying that they theres no wealth effect from shares and there was also supposed to be the trickle down effect and that never materialized at all so this year alone 37 Central Banks have participated in monetary easing whether it was through lowering the fed funds rate target or open Market Operations or purchasing securities and treasuries the fed now just printed more money out of thin air than in the entire big quines market cap so at some point what in society would in countries what in the people at the consumers who never saw any of this money stop trusting that part to think power of legal tender. Well i think the minute an enemy that capitalism faces is now classical economics in whatever form that tags and i would normally dismiss an argument like that because ultimately say that money rules in a unit in a country because of the. The power of the government itself to enforce those wishes. But youre really have people doing moronic stuff with with banking because theyre following economic textbooks which all the Central Banks slightly maltman locking was like the bank of england and the moon is fact the center on the whole idea of creating reserves you dont create laws is wrong its not have banks operate but i think that mindset still dominates the Federal Reserve so this this prototype of easing is a pact with the devil because if you stop trying to build a ship crosses into become dependent on that big boost of ship process by you buying bonds and on it goes to buying the Financial Sector buying shares. They get beholden to raj singh said market now theyve got to the stage where this and p. Is only doing more of the value relative to learnings twice in its history once was 2000 which was the biggest of the valuation in history on the nasdaq crash the 2nd was not in 29 so were just back in a situation where every time the markets go down theyre going to pump it back up again they can do it indefinitely but its creating a totally out of official world so i think the credibility is declining identical decided with the context of a prank play. One of the best things because it has got on board as the Federal Reserve say we have about 30 seconds left so we ask you very quickly you know there is talk now about using mildly negative those negative policy rates in order to help to keep pushing the economy up at what point do savings ultimately be there the going to be rated for everyone if the fed continues to push this idea of 0 Interest Rates even into negative Interest Rates again about 30 seconds here its crazy is going to thats just undermining the Pension Funds which are a lot on im excited in this room from the massive effect of the Bank Accounts to some extent on this so youre undermining the the votes of people whose retirement incomes on those photos again as its the Federal Reserve is leading. Fought against capitalism which is not exactly what its trying to do but thats what its cheating professor of economics on petain steve hanke having you. Thank you. For it was a day of great anticipation for disney fans you know im talking about because it is the fanatics and i use that term in the most literal way possible love their disney dont they so today of all days and almost unofficial holiday for some people the launch of disneys exclusive streaming Service Disney plus well just take a moment to let it wash over you yes the only problem here is that with millions of people logged in this morning trying to sign up for disney plus they saw this is the character wreck it ralph we have for you and other able to connect the message wasnt the case for everyone but for many people too many people there were issues with logging on to the new service including mobile devices roku and x. Box one disappointed we didnt have that shot for you because if anyone directed. The disney plus customer help account on twitter they blamed the problems on unexpectedly high demand saying the consumer demand for disney plus has exceeded our high expectations. Netflix certainly has their competition set out for them one after the other to see who the line them all up at this point the question is at what point do consumers say i can pay for all of these Services Every single month and youve got to pick and choose who wins and that 11 is the other pretty good lunch exactly thats it right this time you can catch it boom bust on directv channel 321 dish network how to 80 are streaming 247 on play to t. V. The free t. V. At town to 79 or as always you can hit us up at youtube dot com slash boom bust r t i see you back here tomorrow. Time after time corporations repeat the same mantra sustainability its very important to accelerate the transition to sustainable transport sustainability stay number manage a more equitable and sustainable world. They claim their production is completely harmless. Its. Not it. Companies want us to feel good about buying their products while the damage is being done far away this is Something Else this must be going to any minute i mean look. We do want to. Underscore that lets. Just say to my hardest to a dash was to convert it. To design human to be washed as you can. Get a regular ricky. System and thats. Listen. To my mother 100 neighbors who. Say. Its. The monkey comoving. Models in the quote this is. The we all know so we dont know lay on. The soup and he was still so not to sing on the least sleep she. Played. The leaders of the worlds major emerging economies are in brazil for the bric summit we will be going. Through the day. Another potential. Federal investigation. Googles efforts to share information. With the medical care provider. Seeking to ease tension presidency. Relations with the us ahead of talks in washington with donald trump we look at some of the key just