Transcripts For RT Boom Bust 20240713

Variants of the tesla model 3 vehicles are on the list for the generous Subsidy Program so joining us now to discuss this is the car coach to lauren fix all the way from lancaster new york lauren thank you for being with us today. Thank you for having me tesla is aiming to make more than 1000 vehicles a week by the end of 2019 and ultimately push that number up to 48100 a week a lot of this is about gaining access to the Chinese Market but its not incredible but it was incredible how to look at to use to exist based upon government subsidies so what you make of this government Subsidy Program. Well the Government Subsidies Program put in place by china was to entice people to switch over to alternative types of propulsion for their vehicles and whats happened unfortunately is when they did 1st put it out people took advantage of it but nowadays cut it cut it back and now only down to 3500. 00 people of course are not buying it as rapidly d as they were now with tesla and their model 3 theyre going to get 3500. 00 of credit to a new consumer on a 50000. 00 car now we dont have exact numbers yet of what the tussle will cost of course how you option it will also make a difference and there are 2 different variants this would be very helpful to get some cash flowing train repaid for the cost of that plant thats in shanghai its going to be very expensive and its going to take quite a bit of time for them to even pull a profit out of china but in the number one car market anytime you can sell a vehicle thats great remember that a lot of chinese consumers will get the same credit toward other vehicles so hes not the only vehicle out there selling with 3500. 00 credit also keep in mind is that chinas talking about cutting that credit down to 0 so we dont know when thats going to happen exactly seems like electric vehicles i mean everyones moving in this direction we reported thursday g. M. And l. G. Theyre spending 2300000000 to build an electric battery plant in lordstown ohio its really good news for certainly the people in ohio where lordstown g. M. Once had a plant that was shuttered there a lot of this is the pave the way for g. M. Plan to introduce what about 20 electric models globally by 2023 is that right. Thats a thats what theyre saying by 2023 or have 20 electric models the biggest problem for General Motors at least here in the u. S. Is that consumers are not buying them were still less than 2 percent of people purchasing electric vehicles they tend to do well in other countries based on infrastructure and we still have a problem over the thanksgiving holiday where people are waiting 2 and a half hours in line for charging station and most people are not going to be patient enough for that until theres more infrastructure quicker charging its going to be hard for the average consumer to take on that but whats good about this whole thing with General Motors and l. G. Is the deal they made with the u. A. W. Is that they would try to reopen the lordstown plant and theyre putting the company in there used to be called work course what theyre doing is were going to build vehicles that are electric powered at that plant the problems we are not guaranteed even if theres 20 of them how many need to be built how many jobs will be given back and now moving on there are a number of automakers kind of hitting harder times right now dialer said friday that it will cut at least 10000 jobs worldwide over the next 3 years now this is a move to cut costs as they move towards electrical vehicles are corrected sticking with that electric vehicle. Right many manufacturers are talking about up to 10 percent cutting both white collar and Blue Collar Workers thats pretty serious quantity of people and why are they doing that is because im not making money on electric vehicles theres no one today who is making money on an electric field with autonomy coming in or at least all this great new technology the biggest concern that theyre having is how do we make that up according the laws on the vehicle we need to make a profit at the end of the year across the board so theyre cutting back on employees because they cant come cut back on production costs and thats good big concern because if people dont have jobs theyre not going to buy new cars lauren i actually want to follow up on this electric vehicle kind of segment that weve been there and you know you kind of make these points over and over again that people really are buying these cars theyre not really a money maker for these brands were seeing people just cut jobs due to electric Vehicle Manufacturers when are the manufacturers going to give up on this bad i guess if thats what you think it is. Well i think the answer is going to be a mixture for consumers it depends where you live what you do what your lifestyle is if you live in a city and you have infrastructure available it makes sense if youre living in manhattan plugging in is a problem because theres no place to plug in especially the older buildings back from the turn of the century i actually live in a building thats from 1929 theres no place to charge theres no parking garage nearby that has charging so that for that type of situation is a challenge but if you look at a mixture of things especially some of the new technologies that are coming out with hydrogen theyre looking at using algae in other forms of propulsion using compressed natural gas those may be a mixture of some of the solutions that will allow consumers to have options keep in mind the gasoline powered cars are not going away probably not even in our lifetime its going to be a mixture of options for consumers electric vehicles the biggest challenge i have right now is the Earth Minerals are using to build those batteries and china owns all of those mines and that is a huge factor until Battery Technology changes theres not going to be a profit margin yeah were short on time here before we go i want to ask you real quick about nissan and whats going on there because youre talking about all these different cuts that are going on nissan is now foreseen its u. S. Factory and Office Employees to take 2 days off without pay us sells this year down 7. 8 percent how bad are things from the sun right now and how do they pull out of this they are really bad at part of it is this carlos going deal where they accused him of stealing money we still dont know where thats going to unfold of course hes saying he didnt steal money they say he did but the bottom line is sales are down about 80 percent and as far as the Profit Margins are down 80 percent thats pretty serious and if you dont have the cash flow then you tell people youre going to have 2 days extra off but youre not going to get paid and thats not good because it causes good employees to look for jobs elsewhere and thats not good for nissan they need to really start turning some things around lauren fix the car coach thank you so much for navigating us through these stories. Any time thank you though it is official saudi aramco is the biggest i. P. O. In history saudi arabia state oil giant has priced its i. P. O. At 32. 00 rials or 8 point or 8. 53 per share raising 25600000000. 00 and beating the previous record holder alley bob was 2014 listing this will give the company a market valuation of 1. 00 trillion dollars when the shares are trading on december 11th the listing is oversubscribed soliciting visit nearly 4. 00 times with the saudi government claim that it wanted meanwhile the i. P. O. Price in came as the saudis were locked in discussions with opec and members of the socalled opec plus like russia to restrict Oil Production the o. P. s Opec Plus Group appears very close to an agreement here. This week was a bit of a mixed bag for the markets as global trade and certainly hit a fever pitch with china and the United States not be able to get on the same page in finalizing phase one of the landmark trade deal that has been news all over the world lets start with the mo x. Exchange in russia which is down slightly on the week but there is some good news that the world Bank Reported the countrys Economic Growth will be higher than expected and will continue to pick up over the next few years now in shanghai the composite is up just over one percent and it was a lot of a bit of an up and down this week trade worries really rocked the market falling on tuesday after President Trump said a trade deal could be delayed until after the next u. S. Election but picking up on the positive trade news later in the week the market was also boosted by news of a strong factory activity in china than initially was expected with the countrys p. M. I. Hitting 50. 2 in november in japan the nikkei up as well is seeing similar results up half a percent and japanese stocks were able to push into the positive following the rise of u. S. Equities amid the positive swing in trade talks plus. Japan was able to ratify a unilateral trade deal with the u. S. Of their own and in hong kong the hang saying it is also up slightly on the week facing similar turmoil due to trade negotiations its definitely a theme here between the United States and china taking a dive after it looked like we would have to wait till next year for the deal but picking up steam later in the week as china announced they would waive tariffs on u. S. Soil beans in a goodwill effort moving to india the sensex is down on the week following 334 points at close on friday following all time highs just 2 weeks ago the losses fall mostly in the banking and auto sectors and theres irv bank of india maintained Interest Rates at their current levels while predicting slowed Economic Growth now moving south to australia more than 2 percent on the week while trade and certainly played into this conversation the reserve bank of australia actually chose to maintain cash rates at a record low point 75 percent which was expected although the central bank has cut rates 3 times since june and then were going to south africa the all shares index is down on the week the South African rand faced losses on thursday following news of continued economic weakness in the country and data from the nations central bank showed their current account deficit has narrowed slightly but not by as much as they had originally expected there was however a positive news for south Africa Mining companies in the platinum and gold fields now they were able to make positive growth so were going to toss it over to ben now for European Union and the americas and thanks for that were heading over to europe to start with the cac in the dax they are both down for the week as they were hit pretty aggressively on monday after consolidating for the better part of november this initially set up the market for some more downside but may still relatively make a strong snap back keeping sellers at least for now a day in the u. K. The footsie well it had a absolutely terrible week there were a few highlights toward the end of the week as the pound pushed up having hit the highest level against the euro since may of 2017. New car sales did fall by 1. 3 percent in november compounding a sharp drop the month before an aston martin shares they are up as a canadian billionaire is eyeing a stake in that company over in brazil it was a very very different story here as the able vessel had a very good even record breaking week this on paolo stock market it actually rose 1. 2 percent this wednesday december 4th and for the very 1st time closed above the 100110000 thats the word point benchmark breaking a new record wall street banks have broadly bullish bets for brazilian stocks with j. P. Morgan and Morgan Stanley seen an acceleration in Economic Growth and strong rotation to equities from fixed income boosting the local markets in north america the b. M. V. Was sharply down this week falling on tuesday and wednesday the s. And p. 500 the Nasdaq New York Stock Exchange all finished the week basically flat in some cases just slightly up its an improvement from where they were at the beginning of the week remember on tuesday president statement that phase one of the trade deal may not get done till after the 2020 election that caused a huge drop but by winz day things were moving north again when the president said that u. S. China trade talks were going very well keep in mind december 15th that is the date when new tariffs would hit china if phase one of the deal is not done both the u. S. And chinese negotiators are now saying that they are optimistic to get a phase one agreement before the deadline and finally we go north to canada the t. S. A. Is down for the week as well the week has seen shares of major banks including the royal bank of canada falling sliding Investment Banking fees pressure on margins and an increasingly weak credit environment led to disappointing results and that is this weeks market walk. And time now for a quick break here because when we return its a bit of bad week for 2 of the biggest Ride Sharing Companies theres reports of Sexual Assaults are hitting both hoover and live art we have Team Coverage of the accusations and how the companies are responding but as we go to break here are the numbers at the close. Ok in the special can somebody we can benefit says one of the men of the. Book is. The gulf where. You thought the whole doping in russia think was over for get it. Through a complete pressure with some of the models and the. Russian outlets eligibility for the International Competition says that stake this includes events like the Tokyo Olympics and the fee for world cup and qatar if i am in the early as last. Year when you come in you know theyll just as it was 4 years ago in moscow antidoping plavix at the center of the scandal so who tampered with the doping samples database and one does greegor you want you guys have to do with it and you know shes stupid because we start the ball zoom in you know. Hes a push on that was just. By to expose me emotion touch a little bit to the pollution and then theres no. This is kaiser report coming to you from an undisclosed bunker in the middle of nowhere so get ready for the apocalypse in the zombie infestation and ilan must have a saltire together. And were going to fulfill the repeated purposes apollo been to the people and come out to be you know weve all bots. Now you want to. Know. They. Can link up. And welcome back treasury secretary Steven Nugent says he is fine with facebooks Digital Currency libra but adds that the project must comply with end time Money Laundering rules manager went on to say quote im Fina Facebook wants to create a Digital Currency but they need to be fully compliant with financial secrecy and Money Laundering rules in no way can this be used for terrorist financing really and as that same rule applied to the u. S. Dollar of course it doesnt and no currency can be foolproof against being used in criminal activity its literally a ridiculous statement but that aside one of the biggest questions surrounding libor is what is it is that it is your Digital Currency because Mark Zuckerberg when sitting in front of congress has consistently been inconsistent about how he defines libra he most recently referred to it as a payment processor really not a currency not a token nugent says that he has met with facebook a dozen times to talk over regulatory concerns meanwhile the House Financial Services committee is unsure about whether facebook will be allowed to proceed because they claim that a libra the wallet that libra would be stored in would actually act as a bank. And now ben actually i want to talk about the kind of wild aspect that we were just talking about there because trading and investing platform has actually confirmed that they are working on a debit card to be released in 2020 and reports indicate that is the card will be used to support crypto as they do all kinds of trading on there but what do we know about that so far well ok so youre right the reports are that it will support crypto but when you actually ask as reporters have about it theyre not saying anything they dont want to give any details about what services will be covered by the debit card and it raises serious questions about crypto because how do you remain anonymous if you have a crypto account but you now attach a debit or credit card to it that has banking information right so you would essentially be out in yourself which really couldnt be crippling but there are in fact actual crypto credit cards that are popular throughout the Fin Tech Community how does this meet the standards of like yourself and christy i truly crypto officiant right so obviously when we talk about crypto right in order to truly be crypto you have to be anonymous or else youre not crypto youre just a Digital Currency so there are some crypto credit cards out there theyre not actual credit cards and debit cards as we would know that what they what they actually are are prepaid cards so if you wanted to walgreens you got a prepaid and thats what it consists of there are a couple cards that have said that theyre connected to visa but visas backed away from that because of know your customer laws so yet theres no true critical credit card absolutely bottom line. Has seen a drop in its stock after releasing their Safety Report from last year the report reveals thousands of documented Sexual Assault cases archie correspondent natasha suite has more from los angeles and were says it received more than 3000 reports of Sexual Assault across the u. S. And 2018 but theyre not the only Ride Sharing Company on fire is in the middle of a law suit with 19 women claiming Sexual Assault allegations you see them everywhere and now ride sharing has become even more common and taken it. X. E. Lost 1100000000. 00 last quarter the company says rides are still profitable but after releasing thursdays Safety Report the question many are wondering will the Sexual Assault cases impact future friday alone solid drop according to her Safety Report there were 3045 reported Sexual Assaults in the u. S. 235 of those were non consensual sexual penetration 280 reports of attempted nonconceptual sexual penetration and the remaining assault reports included and want to kiss seen or touching of body parts of these reports include both writers and drivers in a tweet or c. E. O. Says quote i suspect many people will be surprised at how rare these incidents are others will understandably think theyre still too common some people will appreciate how much weve done on the side of safety others will say we have more work to do they will all be right the us isnt the only place you seem controversy of the 70 countries the right sharing Company Operates in london is banned for a 2nd time and as mayor says transport for london has uncovered a number of serious breaches some of those include at least 14000 occasions where somebody may have been using the. Driver driving the missing the person they thought it was so these are not surprised drivers manipulates. To drive people around london when they should be doing lift is also under fire 1000 women sued the company this week saying led to failed to follow up on complaints or enact basic Safety Measures to prevent a solves san diego based attorney Michael Berger representing the left victim says quote lift doesnt even tell our clients who the driver is so they can get a temporary restraining order he goes on to say what does doing on so many levels is done with the intent of silencing the victims and protecting their brand of houston woman who says her lift driver took her on an alternate route into a warehouse. Car and call police over says it puts drivers through a vigorous background check but as of right now new york city is the only city in the u. S. Where drivers have to provide fingerprints the same mandate which taxi drivers also follow in los angeles and hospice weeks r. T. Sticking with the shared economy air b. N. B. Announced new policies to crack down on the other authorized parties and guests its an effort to crack down on its platform the company is under pressure to gain the trust of travelers neighbors and lawmakers this always a prepares for its planned initial Public Offering next year so what is the author joins us now to break this all down what exactly is this new band how does that work how is it going to be policed by your b m b well one of the new ban says it is going to prohibit these open invitation parties those are the ones that are usually promoted on social media but that doesnt mean that all parties are events are prohibited now air b. N. B. Announced quote that this policy does not impact parties that were authorized by hosts and convened respectfully by guests in stead our goal with this new policy is to address the small number of guests who act irresponsibly and those rare hosts whose homes become persistent neighborhood nuisances so not everything is going to be prohibited but this does come they will allow invitations by and Single Family homes so these a large parties in apartment condos and buildings will be prohibited but this all comes in the wake of that fatally Fatal Shooting that took place in the air b. N. B. House outside San Francisco suburbs where 5 people were killed so essentially air b. N. B. Is saying we want to make everyone happy we dont want nuisances we dont want danger involved in this but how does it help the plane to address this so an Unauthorized Party is exactly that its an authorised its people getting a social media doing this how do you track this how do you stop all thats where it gets a little tricky now were looking at some citizen. Surveillance here so theyre going to set up a 247 hour hotline where people can call in this is the c. E. O. Of. A b. And b. He said that there will be a hotline where people can basically call them any time with patrols but there are some that both sides these these bans are actually setting up some 5 new standards and these include excessive noise there is unauthorized guests unauthorized parking an author i smoking and some major cleanliness concerns that require excessive cleaning after checkout now these standards are going to take place in early 2020 these are some of the bans were talking about here where theyre banning the parties some of the excessive gas standards but these one so 11. 00 instance one violation will be a warning and 2 could be suspension or complete removal of the account well ok so you can call me right kind of affords you a lot of new opportunities to make money thats the reason that people get behind this in the 1st place you put your place on the air b. N. B. To make a little green how safe is all this well thats a problem that were living in a shared economy and its not necessarily that were living in a more dangerous world but its more so that there are more users now so these these types of the sector really grew so quickly and rapidly that thats where there have been issues now we see this from like natasha reporter there was a lift yeah now theres theres a few air b. N. B. Instances where we saw you know the last one was unfortunately a fatal of it led to 5 people being killed the recent theres another one in Salt Lake City where 28 year old r. J. Walker he took to twitter to tell his story where he lived in a home for 9 years apparently he came home one night his landlord had air b. And b. To brant out the other 3 rooms just for the night he came into a bunch of strangers he reported that called his local news where he was a victim after the local news told his story so this is where more regulation also needs to occur with air b. N. B. And who basically the people that it allows to to sell their house to run their. Also is out too so i think thats well see a lot more to come in the coming months if not early next year or months as the oka thanks so much for your time and thats it for this time you could catch boom bust on directv channel 321 dish Network Channel 280 or 247 a t. V. The free t. V. App shelter 79 or as always it is up at youtube dot com slash boom bust archie. And his community there are people who believe that its ok to sell fractional food on my table its really hard there are no jobs and you see that ive got kids and ask and as a parent. I can come up with lots of arguments theres a lot of conflict in the game between the teams most of the conflict i would say over balls around money and most of them money has made. Us want to know each other. Each other this could be just the state of california alone to make 6000000000. 00 a year of prison complex just to get some point in your life where. You dont care any one of my cares about you so youll hear mine anything. Thank you no because you need you to come the ones weve gotten here shes thrown around why is he didnt know what to do he was trapped in this tiny little wired we dont need a crate with him he will stir freaking out and he wont let us bring him anywhere near. Breeding dogs or caged in the into lane conditions on the phone i mean 67 years you know theyve been locked up in a cage outside you see no protection from the weather the heat you know the cold air the rain the snow the thunder off they have no protection. Looking at you. And its ok. Across the u. S. Cruel puppy mills are supported by dog shows and it still has most of the puppies that are coming from these large Scale Factory farming kind of operations are being sold in stores even giant a good businesses are involved like gillum mom sent to theres been a shocking amount of organized opposition to adverts to increase the standards of care for dogs bred in commercial rating for so many most of that opposition is coming from huge agricultural groups and industries that have nothing to do with dogs dont buy dog. Facebook and google started with a great idea and great ideals unfortunately it was also a very dark so. They are constructing a profile of you and that profile is real its detailed and it never goes away turns out that google is manipulating your opinions from the very 1st character that you type into the search bar it will always favor one dog food over another one comparative Shopping Service over another and one candidate over another they can suppress certain types of results geist on what they think you should be see if they have this kind of power then democracy is an illusion the free and fair. Exist the more rope we give them the sooner were all. A little bit of the. Past the world then will. Take i could. Not trouble getting loans. You love who you know nothing. How do you make it a secret if dont want to talk. To who want to have all of the kook on the standards of the now known as you. Know most of the people who keep. I knew in. My to this news tonight in 92 for not so when you hire tried to use in. One of the media house on there now. 3 people are left dead after a saudi earth force trainee opens fire of a u. S. Naval base in florida authorities are investigating whether the incident was terror related. Also coming up in the program this hour a former Facebook Content moderator is taking the company to Court Alleging that his work caused them psychological damage. Some people in the u. K. Feel to see the funny side of a Christmas Card poking fun at herself. There are ways you can cross jokes in order to situate the humor away from peoples vulnerability my father had alzheimers before he died