Transcripts For RT Boom Bust 20240713

Days later another one this time on a mosque in norway one person was injured the attacker also attempted to live stream the crime on facebook in a sinister twist the attacker not only prays to the christchurch killer as a saint but also depicted his fellow copycat attack as heroes amidst the space of copycat attacks and i asked inspired attack in sri lanka. Martin Luther King Jr said behaves begets hate instead of diminishing evil it nonce applies it and this may be the sobering reflection of 2090 the word terrorism actually still has no universal is deafening. That every country can agree on and say you cant stop a global scourge if you cant define that immunity so we have to start defining what each of these problems are what each of the intent is even in america some of the shootings that have happened the media has been totally silent about like el paso another in dayton ohio california it just went off the news after a couple days so we need to be defining what happened here and whats going on what are the ties here and so that way we can really sort of dressing it and we need to start being more transparent about it on a global scale so we can start seeing our actual nation leaders working together rather than trying to tear each other apart thats whats going to start to make a change and power the people and really be able to take it back. Or we return to our breaking news of an end of disaster in iran a ukrainian aircraft with 180 passengers and crew on board has crashed shortly after takeoff from a mom hole Many International airport in tehran according to the head of irans Emergency Services the plane is on fire and rescue crews are at the scene although the iranian red crescent is saying it is an extremely unlikely that anyone survived Ukraine International Airlines Flight 70 52. 00 was heading to kiev its a boeing 737 plane and reportedly went down due to technical reasons according to the tracking Service Flight radar 24. 00 the plane took off and stopped transmitting data 2 minutes later there is no indication of any link to the Iranian Missile strikes that happened in iraq a few hours. Of a visit from a Financial Action in very good will be here with you next hour to take you through all this latest breaking news. I. Was a bus broadcasting around the world and covering all. Like this business and how it affects our daily lives im christiane washington and heres a look at what we have and store today to go on paper takes yet another turn as japan has issued an arrest warrant for life we take another look at this winding case in addition you take a look ahead to the euro zone with hillary the British American Business Association. Take a step over to the eurozone where were joined by steve keen from the amsterdam to break down the newest figures on the u. S. Trade deficit and how the stat has plummeted in recent months and later we are on the ground at the 2020 Consumer Electronics show where boom bust friends are for bringing up to speed on some of the latest developments in the field of Security System so much to do today about so little time lets get right to the news. Japan is stepping up its counter offensive against carlos going after his escape to lebanon has now issued an arrest warrant for his wife carol go the arrest warrant accuses carroll of falsely claiming not to know or have met the people connected to a company that received payments from nissan that was then subsequently transferred over to a firm owned by carlos after carlos was a rest she was prevented from seeing her husband because authorities believe she had been aiding him in a covering up for his crimes in japan who is also seeking carlos gomez extradition from lovett on although the country does not currently have a treaty with japan goans get bail 2 in december to board a private plane and escape to lebanon where he is a citizen he now plans to hold a News Conference on wednesday where he said he will reveal quote actual evidence that proves that there was a coup to stop him from murdering nissan with were not he said he would identify people at the News Conference that he believed were behind his arrest over financial misconduct now this will be the 1st News Conference for mr gone since his arrest in november of 2018 and the saga continues now here to help us break down all the jewish info in this winding caper were happy to welcome back hillary for white board member of the British American Business Association of you kristie. So hillary thank you for being here now to start out there is a lot of news with carlos ghosn which has now become some of somewhat of an International Affair so japan has now issued an arrest warrant for guns wife carol which according to the wall street journal is rooted in a suspicion of perjury so what could this throw an entire investigation well obviously its going to throw a wrench but actually when you look at the timing remember it was because he announced that he was going to deliver a press conference on tomorrow wednesday that they suddenly arrested her so its sort of like weird timing on that if they were so concerned about her why didnt they arrest her previously also they were able to see one of her passports but they didnt seize her u. S. Passport that was when they searched so the suspicion is also what they want to do is they want to have the u. S. Extradite her because they have a we have a trade and extradition agreement with the japanese words lebannon doesnt so theres a lot of factors here involved and yes shes a accuse the poetry on both of them are accused of things by courts that have a 99 percent conviction rate so were going is basically saying is this is not a trial this is a rigged system this is a political system and hes also said that it is press conference hes going to release information about the fact that this all executives have been cooperating with prosecutors so what can we can we expect from this News Conference on wednesday i think were going to see and i think its going to be highly anticipated event you know well all be watching it i think the issue youre going to see is youre going to see that hes going to be revealing some really Sensitive Information as i mentioned you know the news some executives have cooperated with the japanese authorities they did not want the deal with reno to go through that is really the crux of the issue and it seems that they have trumped up charges however one of the charges is that he funneled funds from nissan into another company and that that company then kind of gave him a kickback in other words he was taking more than his salary from this proceeds and so thats what hes being accused of of which of course youre talking about legion eyes so lets hop over. The euros are real quick where Boris Johnson is now hosting the European Commission president ursula van de laine as well to do. So now given that these talks are going to be very crucial because the u. K. Is still set to leave the e. U. Come january 31st so what can we expect to come out of these negotiations with a couple of things actually i think it was the daily express who was saying that you should expect a love from Boris Johnson i mean its a very different situation than it was a treat to me of course is empowered we all know that he had an 80 seat majority in the recent election he is very empowered by the British Public to do as he says hes going to do he ran on a no nonsense exit from the e. U. So hes running on the there will be a brics it on january 31st now ursula von laden on the other hand obviously being german shes actually a doctor and a mother of 7 so any woman that has a mother of the mother of 7 children so you can negotiate but what shes there to do obviously even though shes with the you one thing thats very interesting as she work with ankle morkel for so many years and her cabinet shes very familiar with the pressure from German Industries to to make a deal so both parties dont want to have a crushing out they dont want to harbor exit Neither Party wants to have to go turn to the w t o she can stand and so what i predict is both want to come out saving face so he wants to come out definitely by the january 31st the reason the e. U. And slow want to want. The Great Britain to stay in is because of course dues are 11000000000. 00 if they can in any way extend the u. K. Staying in the e. U. They will retain that 11000000000. 00 in fees those 11000000000. 00 all going to be replaced by any nation so ho job is to make this a smooth transition shall try to extend hill try to keep it tight and i think youll see them both coming out making concessions but one thing that empowers actually even more than the election by the British Public is that dont trump wants to do a trade deal so on his arm trade secretary of list trust him to do both at the same time concurrently. The e. U. And the us so if he does bought and he manages to get a great u. S. Trade deal the e. U. Will be jumping and desperate to have one so i predict hes going to hold fast he can hold steady and shes going to do everything she possibly can to appease him she has she has no strength behind her otherwise a lot of moving parts will be sure to keep updated hillary forward to the British American association thank you so much because you see. The Intelligence Community is bracing for an onslaught of Cyber Security attacks from the assassination of iranian general soleimani did last week a group claiming to be the iranian hackers defaced of federal Government Library website with an image of a bloody president from the department of Homeland Security warned that this is only a hint of what Iranian Cyber Army one of the most sophisticated armies in the world is capable of it has a long history in cyber crime with the ability to target Critical Infrastructure from Financial Services like banking to health care and Utilities Bank of america j. P. Morgan wells fargo and citigroup have all been victims to rons attacks and in 2014 Las Vegas Sands was attacked when c. E. O. Sheldon adelson support for israel the Global Business of Cyber Security spending is estimated to have reached 124000000000. 00 in the 4th quarter but even with all of this defensive spending studies show that cyber crime cost the world half a trillion dollars in economic damages and 2018 now this is far greater than the 300000000000. 00 in losses from natural disasters all fortune 500 companies have been put on notice as they could easily become Collateral Damage if this geo political crisis escalates. And now to give us the macro outlook we welcome back steve keen professor of economics. So steve 1st off lets start with iran and the u. S. Tensions have now as collated and theyre rising as we speak as a rosny. Actual Security Council said that iran is evaluating 13 possible retaliation on the us so what could this possibly entail as companies now are all bracing for for some sort of cyber attack. All of the sauber attacks can go virtually anywhere its its not you know it has been attacking everything in the mapping colac its really a question of knowing youve got some songs that are vulnerable and you havent been using those thoughts and now you have the motivation to go ahead and try to push them so there would be a list of top civilian in america would have been as well frankly as more playing what any other country on the planet saw sort of on what they can get into a man if i were sure and they in fact i know that the americans did that some parts of the Iranian Nuclear if it the last 15 years so that were doing the same thing back to the trouble is that we know the extent to which i call this is driven by the so i was just some of these guys so you can find it on her ability and you can shut down Bank Accounts you can cancel contracts you can scramble documents. A range of possibilities. I notice theres one recent blackmail attempt happening with a i think its one of the travel. Check Exchange Systems there are going to 6000000 dollar black mile to get that down to back against that sort of thing. Now Market Reaction despite these threats have been quite muted considering the fact that these there are massive geopolitical implications and the potential fallout stocks are little changed today and despite a flight toward safety assets and thats just seem to be downplaying the importance of stolen money why do we have such a lazy response on the market. The market always has a lousy response of people think news draws them not one of the best critics of the of the markets here it was a comical blog hagen and hes a wonderful analysis of about 100 years of data shaking when there are big incidents and looking at the commitments in the Stock Exchange and you get initial slike and full on small coming out of the out of any particular piece of news and by the end of the day its washed out and its mainly dominated by the direction of the speculators without the speculators so you know that you dont want any trust of the real news in the market is the market is functional idolise house. Now we also have a little bit of a fallout now between us and china as despite the january 15th deadline looming closer china still remains vague about how much it will increase purchases of u. S. Ag that in fact the vice minister of agriculture confirmed that import quotas for wheat corn and rice will not increase so how will a phase one even get fined if there is still disagreement over import quotas are we going to see this entire thing fall apart at the 11th hour again. I think most likely oh yeah i mean the real problem is theres no way america can be competitive with its Manufacturing Sector while its the worlds reserve currency and so what trump is trying to achieve is always going to be impossible and the response of people with a 100 electron rissa turn their attention away from america as an export ban destination and start looking at europe is still as well and given how annoyed a new year is by justifiably with how trump is that i was as president theyre going to go from the chinese access route to oppose it thats going to stick in quotes around 5 you know highway you idea pronounce of course. But this is just the other road direction so the fact that we are going to get a phase one was pretty much all responsible for the December Santa rally that we saw at the end of 2019 if we do have a fall out come january this will be a terrible start to 2020 what do you expect the rest of tone to be for the rest of the year. Knowledge that me in terms of the writing isolation of the saying all things a song and dance act that leads nowhere with the stock market the stock market is dominated by the Federal Reserve and so long as the fed reserve is trying to rescue it from folding which is which is being doing it ever since the crash at the end of last year. And then also the repo market calamities that focuses are going to be hitting them pushing up the Financial Sector so i think their behavior is going to out well anything that happens on the trade front so that if the stock market. Now imports fell one percent in november and the u. S. Mainly attributed to china and now the u. S. Trade gap is the lowest in 3 years and trump has been quite proud of this but is this something that even worth focusing on as many economists have argued that trade deficit is not itself a problem and is merely the result of a Strong Economy what do you think real quick. Well the trade deficit is probably driven by a stronger economy definitely an american get away with an indefinite trade deficit because its the worlds reserve currency and in fact its almost guilty even when you are there is a currency if you will have to manage your own currency about and beyond whats necessary to buy your goods so you are going to be valued. This. You see its not a worry its a sign of that in some ways the stimulus that trump was putting into the economy bear in mind that even though the most money was in power fortunately what hes done in office is to run quite a lot of substantial government deficit its mainly going to the rich of course but then something which human life the economy gets and its already there actually a sensible thing to run a deficit. Steve came professor of economics on page one thank you so much. More from. Telegram is still battling the f. C. C. After the regular attack and followed a lawsuit to halt the launch of the Telegram Open Network known as tun claiming that the i. P. O. Constituted an unregistered offering of security now in the latest the f. C. C. As the District Court of the Southern District of new york to order telegram to provide documents and bank records of Investor Funds and show how the 1700000000. 00 were used now lets think about that for a 2nd how is this relevant to the case of determining whether or not the 1700000000. 00 was an unregistered security offering or not its not which is what telegram is arguing as it refuses to disclose these highly Sensitive Bank records saying that it has little relevance to the case in question good on them for im defending investor privacy now joe. Kevin castile in new york also happens to agree as the f. C. C. Is request has now been denied telegram continues to emphasize that graham is not an investment product and not a security and therefore it is outside of the f. C. C. Has jurisdiction and that this entire lawsuit has been an unbounded fishing expedition as the f. C. C. Has no grasp on the nuances of how the tongue network operates. Time now for a quick break but hey here because just on the other side of the break we are on the ground at the 2020 Consumer Electronics show where boom bust friendship war brings us up to speed on some of the latest developments in the field of Security System and as we get a break here the numbers at the close. To 6 this is nothing but the harmony. On vibrating strings that is chemistry chemistry is the melody and melodies you can play on strings it is the universe the universe is a city of strange. B. P. Oil announced today its selling some of its north sea assets to premiere oil a move b. P. Says is aimed at quote reshaping its north sea as a portfolio under its multibillion dollar Divestment Program this is a concern about as well. Well prices and supply at the u. S. Go to war with iran are too much money and joins us live with more so john lets start with the b. P. Sell what does b. P. Expect to get out of this and why now. Well 1st of all b. P. Is going to make more than half a 1000000000. 00 on the sale 625000000. 00 to be exact so you know thats a big part of this just to kind of walk you through this in the viewers b. P. s north sea regional president ariel flora said in a statement that b. P. Has been quote reshaping its portfolio in the north sea to focus on core growth areas as a result of this focus we have also d now decided to divest our andrew in shearwater interests believing them to be a better strategic fit for another owner and that owner as you mentioned in the intro kristie is premier oil which will now take over the andrew platform and b. P. s controlling stake in 5 surrounding fields along with a Minority Stake in the share water field which is operated by by shell oil 69. 00 b. P. Workers are expected or will be transferring to premier oil according to b. P. The move really isnt that unusual there have been other similar transactions like this in recent years in which the Big Oil Companies pull out of maturing fields and smaller firms move in and so this appears to be at this point another example of that Christie John on the topic of oil Oil Prices Fell almost one percent today amid fears of a military conflict between the u. S. And iran after gains during the 2 previous sessions so whats the overall outlook right now. Well right now there seems to be kind of a wait and see approach an attitude in the industry to see exactly how things are going to play out not only the oil industry but the rest of the world for that matter including us in the media there are many theories about what could end up happening with concerns that a quote unquote war could break out between the u. S. And iran theres a lot of. Theories about what that kind of war would look like. Or that iran will you know for instance strike u. S. Military targets you talked about this earlier in the show not only u. S. Military installations throughout the middle east but also americas allies specifically israel and saudi arabia and possibly even going after saudi arabias oil fields you know that remains to be seen thats a whole another show another topic but all around clearly knows that it can disrupt the worlds oil supply and distribution and one major way is by putting the strait of hormuz in a choke hold you remember back in may and june we reported on this when a number of oil tankers were attacked in the gulf of oman sending Oil Prices Surging well that could certainly be the case again if not worse you know keep in mind that a 3rd of the worlds oil passes through the strait of hormuz were talking about you know smilies of barrels a day of oil thirsty john as we wait and see what happens in the middle east were also watching to see what happens between russia or russia has the right only now continued its oil supply with the Eastern European country after cutting off cutting it off early in the week so what more do you know about that. Yeah this was also a pretty significant story you know speaking of oil and oil supplies so bellerose a started reprocessing russian oil after a 5 day suspension when russia cut off Oil Shipments to its Eastern European neighbor the leaders of both countries have been negotiating Energy Supply contracts for several weeks now along with discussions about expanding economic and political ties russian president Vladimir Putin met with his counterpart. Its commitments to belarus and future agreements with melrose relies on russia for more than 80 percent of its Overall Energy needs and the countrys 2 refineries were running on reserves of until this new agreement was reached which bill rose says will allow a nonstop operation of the countrys refineries this month the russian pipeline operator trans nafta confirmed that it would transfer 130. 00. 3000. 00 tonnes of oil to bellerose and the oil will come at a discounted price while negotiations for resuming regular imports between both countries continues now russia ceased its oil supply developers on december 31st when the 2 countries couldnt renegotiate you know oil prices for 2020 for the new year and on friday officials in the capital means going down the country was suspending its own oil exports which contribute to up to 20 percent of insanity in g. D. P. Before this short term deal was agreed upon so this was definitely a crisis situation for bellerose appears at this point things have changed theyre moving forward again but the political wrangling continues as russia really says that delarue should accept closer economic integration if it really if it wants Lower Energy Prices and thats a concern of 2 officials and mates who have raised their you know of jacksons that possibly new agreements could pave the way for for murder of the 2 countries well see that remains to be seen but russia has really increased its pressure on belarus by raising Energy Prices and also cutting subsidies and factor in you know of course whats happening in the middle east with the u. S. And iran and that could certainly also have a bearing on future agreements between russia and belarus you know reliance on Russian Energy supplies remains very heavy and belarus is also keep in mind a key Transit Route for russia russias Energy Supply for the rest of europe so well continue to follow that story and many others of course. Correspondent john hattie thank you. The worlds biggest Consumer Technology trade show kicks off in las vegas amid an escalating tech cold war between the u. S. And china are to produce a bunch of bores on the ground scouting out the latest innovations that will soon be hitting the markets one of the themes and focus for 20 twentieths Smart Home Technology and Security Systems. As c s 2020 kicks off tuesday one of the biggest themes throughout the show will be Smart Home Technology there are smart speakers lights locks and even smart toilet seats all Traditional Home products that can be connected and work in conjunction with each other to be controlled by an app or series of apps but one of the key technologies at the show is Smart Security cameras abode provides a d. I. Y. Home Security System and today were looking at grainy video camera indoor outdoor video camera we decided to take Smart Home Security and make a totally selfcontained and portable so that not only do they work in your home but you could take that same peace of mind with you when you travel or from in your apartment as well arlos a smart home do it yourself Security Companies are all about smart phone cameras doorbells floodlights all around your home today were introducing 3 new products are we going to launch later this year and that includes a commie battery out there a camera and our darva camera in our county baby camera the question becomes why a smart homes and specifically smart Security Systems become the trend of 2020 i think the technology is maturing to a point where its really making a lot a lot a lot possible at a really good price point and empowering and pam people who take take control of it and away from you know not just a professionally installed expensive system so i think thats where the technologys got but i guess that everyone these days wants to take advantage of the technology that is just growing and Getting Better and better and having our home protected in a smart way with reports of smart home devices like google home and amazons alexa being able to be hacked by a laser pointer or hackers tapping. To ring cameras to talk children while pretending to be santa claus do these Companies Really see a concern security is our number one policy and number one priority for our customers i think people are very creative in coming up with attacks on technology and you need to think carefully about it i think both amazon and google take security seriously as do we some of the companies out there might be rushing their products to market a little bit prematurely so you have to be careful while these issues may be real these innovators in the Smart Security space believe they have solutions to protect the customer albeit many of them taking a different route you know one of the things that we you know we focus on is educating people around. Choice if theyre pos woods it comes down to those simple things you know and then from our own side of security and we really do everything we can to ensure that daughter remains only accessible to that customer its a multi layer approach its designing for security its automating and testing for security and then its also thoughtful that will touch is like the the shutter that you can slide across the camera thats built into the brilliant control were taking every precaution to make sure that everything is totally encrypted we dont have access to any video files and were using some of the top of the line leading Edge Cloud Services as well security is more for us its more than whats on the os at the cameras also protecting the consumers private information so we dont sell we dont share data its all controlled very strictly and we only collect exactly whats needed to provide the services that are reporting from c s 2020 in las vegas for boom bust. R. T. Thats over this time you think id boom bust on track t. V. Account for a 21 dish network out to 80 or is to me 24 sevenths at a t. V. The free t. V. Ad council something i. Had i thought that you could dot com slash boom bust r. T. The next time. Breaking news this hour a ukrainian passenger plane has crashed on an airport with fears all 180. 00 people on board. Came down minutes after takeoff with reports claiming it suffered technical problems. In the. Meanwhile just hours before in neighboring iraq American Military bases are hit by dozens of air strikes as Ground Response to the killing of a top general was assassinated and a u. S. Drone strike last week. Its not looking for a war with washington