Transcripts For RT Boom Bust 20240713

A 1000 cars per week until mid 2020 so what do you think. I agree with i dont know initially theyre going to be delivering 15 cars by the end of the years we can say that he delivered cars in 2019 thats more of a publicity stunt than anything else but in reality initially must consider going to produce 3000 cars a week which is not possible and its not fully automated like he had stated they still need manpower which is really good because that means jobs but i think were not going to be talking about a 1000 units a week until youre right about the middle of the year we also have to remember we need sales and if theres no sales there then youre producing product that just sits and thats partly what temp and youre in the u. S. Where theres lots of vehicles sitting in different locations around the country you can look it up online which is a good surety Airforce Base and theyre just parked and thats not good you never want to build product thats not being sold youre better off having consumers wait but this is going to be a problem when he owes 1500000000. 00 back to the Chinese Government and you certainly dont want to take that money from the Chinese Government and not be able to pay it back. And now also in china regulators have now fine japanese carmaker toyota 12500000. 00 for price fixing on their lexus cars in the province so whats the story there and how has lexus been able to continue to grow their sales despite the fact that the chinese auto market which is the largest auto mark in the world as a whole its strength. Right when youre looking at lexus and this situation this is really not good to have a fine although ford had a fine with one of their partnerships the Chinese Company your number that when youre going to build in that country you have to partner with an existing Chinese Company in order so you dont get all the money and all the profits so increasing the price or doing fixing or playing around with the Chinese Government regulations is never a good thing but theres still a high demand for luxury vehicles and lexus is a luxury high end vehicle and its a sign a success for chinese resident to be driving around in a lexus so they are going to continue to sell of course there is a big push for electric vehicles even though the subsidy has dropped off dramatically so now 2020 looks to be an increasingly tough year for all automakers japans nissan is now slashing their nonessential spending yet again as sales contain a slum so while they arent facing any entirely big cash crunch as yet in november it reported a loss of 70 percent in operating profits so how are they going to dig themselves out of this hole and is their turnaround plan enough to save them. Why i think you put their right to digging themselves out of this hole you have to remember when some was in trouble last time the 1st they did is they hired carlos grown who had turned around marino and carlos ghosn then turned around reno and nissan and worked partnership with mitsubishi but now they have this massive coup that weve talked about multiple times to get rid of the c. E. O. Now theyve lost their brain trust essentially of the company and product needs to be upgraded it needs to have a different look a different quality you know theyve updated the centro and some of their other vehicles. They still arent getting the market share they need and so here in the us theyve said no nonessential travel 6 no travel for meetings theyre cutting back on a lot now currently nissan brings a lot of journalists to the Chicago Auto Show which i typically go and im hosted by them but theyre cutting back on everything and this is not good when you need to be spending money in order to promote your brand so theyre really cutting back to a huge cash crunch huge nail in their profits and part of that is all that negative press from getting rid of executives and of course getting rid of carlos ghosn we dont know if this true theres been no facts proposed to the consumer or to the press or even to carlos ghosn so until this is resolved i think its going to put a big hurt nissan and theyre going to come up with a better way to do business and finally turning back to the states and in los angeles the mayor is now considering to forcing over and lift to use these as a city seeks to cut down on emissions and get more electric vehicles on the streets so this will be a serious blow to her and left who are already facing many many regulatory battles ride sharing was a really hailed as a huge just walk to when i 1st came out but now with the tiding new Regulatory Environment with this kill off this nascent segment of right handling. It might actually kill off right heeling youre correct when you think about making everybody whos a ride share drivers a lot of drivers use your own personal cars youre saying if youre in los angeles is what the mayor is saying that if you are going to be doing right sharing with a lift or any other company youre going to have to have an electric vehicle if this does come into a law this is going to put a nail in the coffin for all this ride sharing business which is what theyre trying to get consumers to use because in order for someone to buy a new car and only get a subsidy outside of los angeles of 20. 00 extra per week in los angeles 30 not giving you any sort of subsidy just trying to educate you that electric cars are a great solution maybe so but if you could afford a new car you would have bought a new car and you would have had the actions of buying. Electric car or hybrid or gasoline powered vehicles theres a lot of prius is out there which are really a good mix of hybrid and gasoline thats a lot of drivers use that are left but forcing someone to buy an electric vehicle then pay for that charging is going to be another nail in the coffin for ride sharing and well see any other 1000000000. 00 you know harm blow up lauren fix the car yes thank you so much for being here thank you. Oil prices rose friday hitting a 3 month high as optimistic messages come out of china and the u. S. To restore confidence and global growth. Are declining and chinas industrial foreign supported profits rising at the fastest pace in 8 months and november with more there partly bring an arctic correspondent alex mad by all indicators brant crude looks set to end the year with 25 percent gains u. S. Crude at 35 percent and there was a boost during the month of december analysts are pointed to a few factors at play in the china u. S. Trade war being a key element the market is reacting to a cooling of the 17 month long trade hostilities between the 2 nations a phase one agreement has been announced where some u. S. Tariffs are to be reduced in exchange for china buying more u. S. Foreign products another factor is the steep drop in u. S. Crude stockpiles the American Petroleum institute showed a drawdown of 7900000 barrels in inventory for the weekend to december 20th this was bigger than the analysts forecasts of 1800000 barrels and all this happening while gasoline inventories were up for the 7th straight week which is a sign that people are driving and therefore spending now u. S. Consumer spending has also contributed to the confidence in crude with Record Online Holiday Shopping showing Consumer Confidence which the oil industry of course sees as a good sign for things to come for them as well and to top things off opec and its allies agreed to put cuts which have helped boost prices all about supply and demand however there are some signs that this boom will be short lived russia said that the opec plus alliance will discuss ending the curbs next year and some analysts believe the market is overbought arguing that the current state of oil is just simply unsustainable. Most major markets were closed this week in a shortened trading session lets see how we ended up over in russia the most was up for this week as the markets crept up on government plans to spend 19. 5 trillion rubles thats 310000000000. 00 in 2020 a 6. 00 increase compared to 2019 now over in shanghai the composite was flat as the markets cooled off from the recent rally on trade optimism liquidy was then this week due to the holidays with many major Global Markets closed for christmas shanghai is now gearing up for a major i. P. O. For the beijing shanghai high speed rail way set to raise 4300000000. 00 in january of 2020 now this will be the largest offering for this exchange since 2015 over in japan the nikkei advance to the shore and trading week however it pear gains on friday as retail sales data for november came back worse than expected retail sales declined 2 point one percent causing the next heavyweight such as fast retailing to fall more than 2 percent in trading down in hong kong the hang seng looks to be recovering as opposed to its best level in 5 months up 1. 3 percent the index is now up 9. 2 percent for the year over in india the sensex was tanking this week after setting a record session the previous week markets suddenly turned volatile in the expiration of the december futures and the benchmark sank led by losses and heavyweights such as Reliance Industries and h d f c bank down in australia the a. S. X. Is up less than one percent for the week as the stocks are flat coming into the year and health care and energy where the lead before most on very thin trading and down in south africa the all shares were up as gold is sneakily turning bullish as we approach year end leading miners and resources up in the process and now over in europe the cac the dax and the footsie are all up this week as markets have been closed on a shortened trading week and all 3 of these indexes advanced less than one percent on very small trickling volumes over in south america the evil of a great week finishing up as it continues to stay in record territory up another 1. 3 percent this week making it one of the best performing emerging markets this year. And now sliding into north america the b. M. V. In mexico is down and here in the u. S. The dow jones and y. A c. And the s. And p. Are all up as well once again all had a new record highs with the nasdaq topping 9000 for the 1st time ever sentiment is soaring on trade and a record holiday haul as consumers continue to spend and jumping north over to canada the t. S. A. Says up as well this week as canadas main stock index pushed into record high in late morning trading powered by gains in key financials and industrial sectors and that is it for this weeks market walk. Time now for a quick break but hang here because when we return as the use of been taken to explode some nations are setting their sights on the sector we recently caught up with ali muhajir the block and founder of spun to analyze what certain nations plan to do with the emerging technology and as we go to break here the numbers at the close. In brazil in a really awesome its beautiful its gorgeous if you were running a country that is an amazing pristine rainforest what would you do with. Joining me every thursday on the all excited with sure and ill be speaking to us of the world of politics. Im sure. Ill see you there. Is like that child in the room its impulsivity its narcissism its us versus them it its fear the prefrontal cortex is empathy its compassion its thinking about the future in terms of what we do today thats where we need to make our decisions based from from the prefrontal cortex unfortunately when we eat the modern diet of our planet or when we watch the news or we spend too much time online we lock in to be a make believe we lock in to the child in the room and were not able to make good decisions. But are there through the will i do the room lardo then the. Muslims draw more than i was for the imprisoned by the regime love my life. Take a stick grab some Media Attention i mean its a shooting in a 16 year olds to 16 birthday party. So i think the police just held a lot of pressure. To close the case. For us i mean just its like i couldnt believe those. You know so far that are all for the sure dont want to speak with us those are all the issues because i was there right next to. Me for it was the phone you got to keep in mind one soon was 1617 years old so. This could lose one bruise and i just wonder if the spirit of tonight in the full food relief. For more those core group. Know the truth. The e. U. Has called on the u. S. Government to ease rules financially squeezing through all nationalities citizens who are unknowingly liable to pay its taxes brussels as a complicated rules are putting an estimated 300000 u. S. Residents in europe under pressure many who havent lived in the u. S. And they were children Charlotte Dubinsky has and find out more about these socalled accidental americans. Can you imagine living without a bank account no yet thats exactly the situation potentially hundreds of thousands of socalled accidental americans across europe had to do to get starry harder to do paying you you can and do you have been putting in more even more pressure with our part today i mean its such a thing to leave hahaha do you get your salary is one of these accidental americans a u. S. Citizen by birthright to be born thera because my father was on the train people thinks months are and i always knew i. Was american what i didnt know it was a tax consequences claire only lived in the United States for a few months and has no other connection she is for all intent purposes french yet there was a crucial few months have left a heavy burden accidental americans dont have a Us Social Security number something their banks even here in europe are now asking for in 2010 the us inactivate fact this is the foreign account Tax Compliance act that requires all nonu. S. Foreign Financial Institutions to check if customers have a u. S. Connection if they do those assets and identities are to be reported back is. Think joe the bank face is itself a fine now whats the link is made then the problems begin across europe accidental americans have started receiving letters like these informing them that they must provide that normally existing Social Security number without it their occurrence would be closed all that they bank cards simply arent being renewed here in france alone some 40000 Bank Accounts face being closed over the new year elsewhere some have already had access to the Banking Services terminated now one person told me that they have to use a friends Bank Accounts just to get by and with the clock no ticking brussels has joined the fight its urging the u. S. To clarify the rules affecting accidental americans and to cut the cost for known seeing american citizenship a step that claire has already taken its not available so not doing anything its also expensive i mean i cant afford it but there are people would see huge huge amounts of money each process i have nothing against america its not my country yet even after were noticing citizenship the i. R. S. Still demands 6 years of back taxes to be filled leaving some with a hefty bill and there appears to be no thought despite that intervention by the e. U. With just days to go before the deadline accidental americans across europe are concerned that the start of 2020 could mark a freeze on access to Banking Systems and Financial Institutions. For boom bust in paris. And the central bank of france as planning to launch a Central Bank Digital currency and 2020 francoise value. The governor of the French Central Bank announced the organization will start the Pilot Program soley for Financial Institutions before the end the 1st quarter of 2020 according to a tweet for the bank of france the country hopes to be the 1st to issue the socalled c. B. C. It appears that the Central Banks are trying to get a head start with the likes of facebook which hopes to launch their own Digital Currency libra very soon during her 1st press conference as a president of the European Central Bank Christine Lagarde even said that she sees a clear demand for stable coins while a new survey from the bank of International Settlements showed 55 of 63 Central Banks are unlikely to issue a c. B. C. In the near 3 years nearly 70 percent of Central Banks are looking into issuing their own at some point in the future. And what more. Were caught up with alima job managing partner of the block found us fun who brought down the subject with arties job or we began by asking him about francis move to explore a Digital Currency. So according to the bank of International Settlements as you mentioned 70 percent of Central Banks that were surveyed are actually looking at doing a form of a c. B. D. C. Or a Central Bank Digital currency 50 percent of those are actually already working on proof of concepts and so theres a very clear case here for a lot of countries looking at it in the case of france what theyre trialing is a wholesale c. D. C. So its not for general citizens or for retail payments what theyre actually looking for is actually creating a fission sees from the pain from a from a cost perspective and a risk perspective and thats actually going to translate for where theyre looking at us to translate that into actual benefit interbank payments as well as across the board with assets as they start to digitize and tokenize furthermore a c. D. C. Actually in the current environment of 0. Interest rates or negative Interest Rates as were seeing across europe actually allows us to have an effect of a lower bound that would be lowered even further which gives additional tools to Central Banks know in france specifically it appears that the government is trying to get ahead of this whole Digital Currency craze or whatever you want to call it due to the eventual rollout of Facebooks Libra now is it a good sign that governments can avoid the coming change of the guard or is it that theyre going to do it poorly to try and beat out facebook. So what the big concern here is actually a currency that circulating outside of the money supply in outside of the Financial System this actually brings across financial. Ability risk according to the Central Banks and so this is actually the case with Something Like Facebook Libra in the case of for example project venus from buying as theyre actually looking to work with governments to actually launch locally pegged fee at currencies or Central Bank Currencies from an external perspective working with those Central Banks and so that actually has a lot more potential and is much less threatening to these Central Banks and so thats something definitely to watch and how that goes across what Central Banks and looking how they continue to focus on issuing Central Bank Currencies it is interesting to think of having a. A Digital Currency thats not necessarily controlled by the central bank but worked in tandem with the central bank like what you were just talking about with bio nance doesnt that risk having a central bank involved in currency which seems to be the problem in some places that have currency crisis right now. Yes so in the countries where we see in political crisis this is actually where weve also seen a bigger uptake so where theres political turmoil where theres actually some sort of instability or high levels of inflation in those countries you actually see them naturally gravitate towards crypto currencies as earlier adopters and theyve actually already been able to adopt it from the perspective of spending saving receiving and sending to family and friends and so this is something thats quite key that probably doesnt actually get solved with a Central Bank Digital currency if theres a lack of trust in the institutions but where there is trust a Central Bank Digital currency does make. Now if we look at the surface level of this we notice that Central Banks are looking at quote Digital Currency is rather than quote crypto currency now this is a big distinction that our friends christiane bents one bring up regularly but only can you clear up. Distinction and more importantly why are they choosing digital over crypto. So with a Central Bank Digital currency they are looking to maintain control of it and maintain the tools that Central Banks have at their disposal and so essential bank would likely actually issue using a private not a public law chain meaning regular citizens like you or i wouldnt be able to see the public ledger having said that we would expect that these would have increased transparency internally to parties and would help to lower things like counterfeit or any sorts of issues that might arise for a private block change they do need to have much higher throughput on transactions and compared to public blog chains they do offer that as a Reference Point you could look at pay in china on singles day a couple of years ago they process 256000. 00 transactions per 2nd and so if you were to actually have a Financial System with a block chain layer we would need to at least have that sort of throughput for it to be viable in most countries. Now were running short on time so i do want to bring this here because i respect your great. As we come to an end a 2019 here what are you looking for as the big trends and innovations in black Chain Technology in the coming year because weve seen it grow bigger and bigger every year. So in 2021 of the areas that were particularly looking at is actually crypto monitoring and so Companies Like chain analysis are in are very interesting to watch because this is where they can actually work with Law Enforcement or tax authorities to monitor crypto transactions some people might not like but its actually an area thats one of the hottest with several acquisitions that have already happened to date another interesting to watch. Structure to watch in 2020 is actually the Gaming Sector weve seen actually games such as gods unchained or splinter lance actually start and continue to gain a lot of traction according to stated that right now which is a web site that tracks these sorts of top jobs were actually seeing Something Like splinter land which is a trading card game continue to grow so these are both very interesting sectors to continue to watch in 2020 in addition to Central Bank Digital currencies. Daily Fantasy Sports Company Draft kings announced this week that it would be going public after our merger with diamond Eagle Acquisition and s. P. Tech the deal is expected to be completed in the 1st half of 2020 with diamond eagle changing their names to draft kings nk and re incorporating in nevada while remaining a nasdaq listed company under the new Ticker Symbol the combined company will have a market cap of roughly 3. 3 1000000000. 00 and have more than half a 1000000000 unrestricted cash on their Balance Sheet during an interview with c. M. B. C. On monday drafting c. E. O. Jason robins said that theyre looking to acquire better and Technology Company s b tech and then go public are go public and then make the acquisition later but was happy to do everything in one step daily fantasy sites have faced issues with regulators in the United States since inception over whether or not it constitutes as gambling the distinction being that fantasy players say it takes skill while gambling is pure luck. Thats it by this time you can catch bo must on youtube dot com boom bust r. T. Say next time. League. Play. Live. Live. Lead. Player. Play. Play. Play. Play play. Play play. Play. Play. Oh. Please. Play. Live. Play. List. And a very warm welcome to you watching on since last. Thousands of american men and women choose to serve in the countrys military decision little sheltered lives every song came to a complete. The day that i was writing. You know told to shut up kill me and i see how it destroyed my life any screamed at me and he made me come in and you graham my arm and he write me with his birth. If you take into account that women dont report because of the extreme retaliation and its probably somewhere near about half a 1000000 women have now been sexually assaulted in the us military rape is a very very traumatizing thing tat happen but ive never seen trauma like ive seen from women who are veterans who have suffered military sexual trauma reporting rape is more likely to get the victim punished and be offended and almost 10 year career or chose very invested in and i gave a sex offender who was not even put to justice or put on the registry this is simply an issue of tower and violence male sexual predators for the large part of target whoever is there to prey upon whether thats a man or woman. From. Wiki leaks accounts further down on the final report by chemical weapons watchdog the open c. W. On an alleged attack and the fear in city of last year we think internal documents that suggest a cover up may have taken. Off with us our Police Fire Tear gas and clashes on the 59th weekend of the all of us rallies in paris. And families of americans killed or injured in afghanistan by the taliban assuming u. S. Contractors are allegedly funding the terror. Watching our