Issued a new sanction on iran to punish the regime and crack down on its few remaining sources export revenue the latest sanctions target metals as well as construction manufacturing textiles and mining making basically the entire iranian economy also limits to any nations that have diplomatic ties with the u. S. China is now caught in the middle as it has long been irans largest trading partner maintaining a friendly cooperation spokesperson addressed the new sanctions monday in beijing. For a long time china and iran have been conducting mutually beneficial and friendly cooperation in various fields under the framework of International Law it is lawful and justifiable and not harming the interest of innocent 100 it certainly should be respected in our tent we urge the u. S. Side and media to stop all the wrong practice of sanctions against chinese businesses we will firmly dip into the law and interest of chinese dont see anything that we china is now calling for the u. S. To immediately halt sanctions on Chinese Companies for maintaining business ties with iran as a reminder on critical oil exports were already sanctioned in 2019 but india and china still remain employed given their necessity for cheap crude Chinese Foreign Ministry Said beijing opposes unilateral sanctions and called for washington to stop punishing Chinese Companies for importing these basic necessary commodities. And boeings new chief executive officer David Calhoun has officially taken the helm of the embattled Aerospace Giant calhoun who served as a member of the companys board of directors for many years was put in place following the firing of former c. E. O. Did a small and berger in december troubles related to 2 fatal crashes of 737. 00 max jets which led to the ouster of berger have have cut more than 50000000000. 00 off the companys market value and now on that news u. S. Treasury secretary steven minucci in things that the loss of value could affect the overall u. S. G. D. P. By up to 50 basis points telling Fox News Sunday for this year weve been looking at 2. 5 to 3 percent as i said it may be closer to 2. 5 because of the adjustments of the boeing numbers and joining us now to take a deeper look into the state of u. S. China trade relations china trade relationship and boeings effect on the economy are peter schiff c. E. O. Of Euro Pacific Capital and todd bubbles or was chief strategist at bubba trading now i want to start with you with the situation regarding by. What do you make of the treasury secretarys assertion that this one Aerospace Giant is poised to cause an issue for the overall growth of the u. S. U. S. Economy moving forward. As you know brian thank you have me back its a big deal because theyre the biggest export of that we have so its going to have a direct effect on g. D. P. And certainly it has slowed sales and that will allow you know air boss which is their only really main competitor to possibly because of the sales from there i mean this whole thing has been really a mess and thats what happens and you let a company bed with a Government Agency and they get a plane thats been told things like thats going to definitely hurt the g. D. P. Going forward and you know what do you think already boeing has lost over 62000000000 dollars off of its mark do you think theres a chance of recovery here. Well im sure over the long term theyll be a recovery but in the short run certainly you know this will weigh on our exports which also could weigh on the dollar you know ive been thinking the u. S. Dollar was headed lower anyway but if we end up with bigger trade deficits in part because we have fewer exports of aircraft that is going to be another factor of many that i think will be weighing down the dollar and the u. S. Economy and now peter but we want to shift gears sort of start with peter here 1st now chinas currency is now gaining momentum as the market is optimistic that a trade reconciliation is underway now the r. And b. Is now at 6. 00 against the us dollar climbing one percent from its august lows but its still about 7. 5 percent weaker compared to before the 1st tariffs were imposed by the u. S. In 2018 now do you think the market is cautiously positioning itself for a deal or does this lack of enthusiasm signal investors dont believe that a phase one is truly going to happen despite it being scion dealer in 2 days. Well a phase one might happen because a phase one is in significant the real deal is supposedly phase 2 thats the one thats not. Not going to happen so if anybody thinks were going to have a substantive deal theyre wrong but the reality is i think the chinese yuan is undervalued relative to the dollar and i expected to rise rather dramatically over time and thats not going to be a good thing for the u. S. Thats going to be a bad thing because its going to make imports more expensive for americans so its going to reduce our standard of living and i do think ultimately its going to push up Interest Rates as well as the chinese a lot of other creditors are no longer lending money to americans and so we have to draw from our own savings pool which is extremely shallow it means the Federal Reserve is going to be printing a lot more money as it monetizes the debt that the chinese and other nations no longer want to buy and this is going to further lower the American Standard of living. Now bubba it is said that the u. S. Is going to be removing chinas title as a trade manipulator as part of a space one deal so what do you have to say to that do you agree with peter that that currently the army is undervalued. May or may or may not be undervalued the one problem with the bear with the one it does not trade freely so its always and by the Chinese Government so you could never get a true read of what theyre trying to do with their currency i mean theyre going to keep that current so youre low d as long as they can because again all theyre trying to do is offset the terror so we keep buying their goods i dont agree at all with peter here that its going to explode to the upside because their government will not allow it to explode outside that is one currency that is totally controlled that is pinned could only move x. Amount per day other than the 3 following rus the currency now if the a currency systems another story which is a joke altogether but in the case i dont think that there its going to change whatsoever and peter i want it weigh in here peter go ahead and give us your reaction to that. While too busy trying to get the sun out of my face because as you know that unfortunately theres no sun coming into a window here so i didnt even get to hear what was saying i was too busy trying to do this but. Its actually i agree. I agree with you peter a little bit but i used to say that because they are one is so true a government controlled they do not allow it to free float nor trade as far as it should in either direction which is one of the issues that will want to know the big it the big mistake that the chinese made over the years is undervalued their currency i mean they did that deliberately because they wanted to maintain exports to the United States but i think that was a key mistake i mean it helped america because we got to live beyond our means but i dont think it did anything for the chinese economy it helped undermine it because they cumulated a huge pool. Of u. S. Dollars that they ended up doing things with that created malinvestment pseudo distortions i think the best thing that can happen to china is to simply allow their currency to appreciate to reduce their exports to the United States because we cant afford to pay for those products to let their own nations consume those that production so that their own people can benefit from their hard work but unfortunately americans are going to have a rude awakening when all of a sudden we have to live within our means and our means have been dramatically diminished over the years we havent been investing we havent been saving weve been relying on overvalued currency to import what the rest of the world produces and we have a say very much weve just been borrowing money to consume and all this is going to come back to bite us now but overall we are now at all time highs in the market but it seems that the stock market is completely divorced from the economic reality and the Auto Industry has contracted and gone worth of retail pocalypse continues with more Big Box Stores closures the u. S. P. M. I. Has been in contraction for 5 months in a row now and its at the lowest level weve seen since 2009 so what does all this tell you and how would you position. You know right now is telling me the markets are going to go up until they dont and about it because things differently they should go see a doctor because again these markets will at some point melt down but for today and for now theyre going to continue to go higher in till they dont as long as the cheap Monetary Policy is in play theres no place else to go they have forced everybody into the equity market which is not a good thing and is it to peters point however i dont know that we could live beyond our means i mean i dont believe that we can hear theres no inflation and ask a farmer if there is inflation in this economy when their input costs are going up in the meantime theyre outputs are coming down so theres a lot of issues here but the markets will go higher until they dont and again anybody who thinks they can time that out and say that this is the top of the market is not because it cant be done its been tried and many have been broke trying to predict the top it will go down and youll have plenty of time to get out if you dont panic once it starts to sell off but for now the way it looks i had all the reasons why we should go lower if you are. Going to think i dont think people are going to have time to get out i think with this this is a bubble its going to pop i agree theres no way to know you spotlight you know what areas that you have time to get out of blow you know now you have time to get out of no one youve got time to get out not every time you really have to get out with except with a given head you know because the minute it drops everybody says the correction is over youve got to buy the dip so i think most im not saying that theyre right for profits vanish. You know like its going to say that theyre right oh peter its not just going to be its not just going to be that people are going to lose dollars when the stock market bubble pops but the dollar bubble is even bigger and when that pops even the dollars you havent lost are going to lose most of their value so i think americans are going to be wiped out in the u. S. Stock market and the bond market maybe people are going to be surprised at how much of their wealth they lose playing it safe in the bond market because youre not played safe and youre playing with dynamite there there are no u. S. Dollar denominated assets that can be considered safe right now it is a giant casino and yeah you know people think that the economy is good because theyve managed to blow more air into the stock market bubble of the bond market bubble but the economy is in worse shape now than its ever been its in far worse shape than it was before Trump Took Office mainly because he continued to pursue the failed policies of obama who pursued the failed policies of bush all weve done is spend our way. For 150 years its going to be over almost every decade but 2 so again you could be right but i i would tend to doubt that the United States is going to collapse because of all the issues that you pretend to bring to the party. Horowitz peter schiff thank you so much were to do this again really soon because you guys are obviously fiery about this that we got to get to get more from you thank you so much for your time today. Ok. For modern china sales fell for the 3rd year in a row and 29000. 00 and the company is bracing itself for the kleins in the broader industry in 2020 sales declined 26 percent year over year partially due to the softening economy and trade dispute with the u. S. And also in part due to the rise of pride. Chinas autumn market is set to contract by 2 percent and 2020 and for its additional sales decline in the value segments to combat this sport announce that it will continue to put more effort into strengthening its product line up with more Customer Experiences to mitigate precious and improved dealers possibility for plans to launch more than 30 new ma. In china over the next 3 years which about one 3rd of the fleet will be electric vehicles. Time now for a quick break but hang here because when we return as technology continues to progress so too have concerns for privacy investigative journalist ben swan joins us to take a look at privacy in the cell phone sector and later as retail giants continue to grow more and more dominant in their sectors some regulators are a competition crackdown molly barrows tribute to americas lawyer takes a look at how india is looking to take on amazon and walmart in the extra space and as we go to break here are the numbers of the clothes. On this edition of crossfire we conduct a postmortem of the recent us around conflict what has changed in what bodes for the future issues the mainstream Corporate Media refuse to discuss. You are no offense but you no longer a young woman in fact you are one of the last living survivors of the nazi yeah. Im aware of it. All your life. You can never forget there. Was a day in the life to be inhaled because you would never believe it. One can. Copy the course for 30 years and nothing be heard of it at all she saw a lot offered by a good sign. When i get out on the farm saw you take my son to the next you so he can listen in hopefully the blessed god heard. Seemed wrong. When all rolls just dont call. Me lol yet to shape out these days to come to add to it and engagement equals betrayal. When so many find themselves worlds apart we choose to look for common ground. The world is driven by dreamers shaped by one person with those words. Dare to ask. Googles Parent Company alphabet will soon be the 4th Big Tech Company to join the one trillion dollar club google success comes out is the biggest beneficiary to Global Online advertising the Advertising Division brings in 99. 6 percent of the companys revenues with Revenue Growth accelerating to 26 percent year over year googles other revenue includes cloud efforts and that it represents a substantial upside for investors google is increasingly trying to make themselves more than an advertising and Search Engine company but also is Services Company with hardware and platform capabilities as google is poised to hit this milestone the company is undergoing a leadership transition cofounders larry page and sergey brin and now its last month that they are stepping back with sunder pichai who will be the new c apple was the 1st company to reach the one trillion dollars mark in market cap followed by amazon and microsoft these 4 Tech Companies have since been surpassed by saudi aramco who now has a market value of 1. 9 trillion. The new push by Privacy International is calling on google the developer of the android operating system to remove something called bloatware now if youre not familiar with that term think about when you get a brand new cell phone or even a p. C. Computer that is already stuff. With preloaded apps and these apps cannot be removed from the system now Privacy International is leading a coalition of more than 50 organizations which is demanding google give users the opportunity to delete any and every app from their device part of their open letter to the group sent to go from the group sent to Google States weve the underside agreed gree with you google c. E. O. Sundar pichai that privacy cannot be a luxury offered only to those people who can afford it and yet android partners who use the trademark and branding are manufacturing devices that contain preinstalled apps that cannot be deleted often known as bloatware which can leave users vulnerable to their data being collected shared and exposed without their knowledge or consent joining us now this is just this is investigative journalist ben swan ben thank you so much for joining us today now i think the 1st and most part question here is now where it can be annoying sure but is it actually harmful to the user in most cases its just kind of sits on your phone it takes up space or is there more to it that were missing. No i think there is more to it than that and its the problem that we have with so many apps guys over and over we see this problem right which is that many applications go into your system and essentially take information from you that its theyre not really supposed to have or in many cases dont even really need to have so what youll find is that some of these preinstalled apps will automatically access your camera features your pictures your videos your contacts lists even though you havent given permission to do so or again it might not necessarily need to do so because we all know that the real product everyones after is data and so what we see with bloatware is that and im sure you guys have experience as you go onto your phone youre trying to make space and you have about you know a half dozen to a dozen apps that are sitting on your phone and you say i dont ever use this i dont need this i dont even want this but theres no way to actually remove it and so Privacy International is saying to google that people should have the right to remove any app thats on their system that they do not want to have now the letter also claims that the devices carry the quote google play protect badge but in actuality 91 percent of these applications do not even appear in the Google Play Store why is that you know well thats a big problem kristie i mean if you think about it because its the google play protect bad essentially comes with the Android System google saying were we care about your privacy and we care about protecting you the problem is a lot of the apps that are actually on the device and this is the really scary thing that are pretty loaded wouldnt actually be allowed on the Google Play Store because they dont necessarily pass all of the the rules in terms of google standards for privacy and Data Collection and that seems kind of weird doesnt it that you can be a preloaded app on the Android Device but if you werent preloaded you wouldnt make it onto the Google Play Store because you dont follow all the rules and so thats thats probably the Biggest Issue here with this whole thing why is google basically force feeding you an app that they wouldnt even allow in their play store if it were being forced upon you bet i would want to get to another story but it doesnt i will have time for today so well get the eye on that later this week but i think a question i do have asked about this bloatware is now are these apps that were seeing here that dont appear on the Google Play Store but appear on the phone are those usually like phone based like a samsung app for instance or Something Like that. It can be but it could be any number of things there are video plane apps that are already put on their sports apps some of them airy even you know more legitimate looking like in f. L. App right so some of these were already come free loaded onto your phone but again the problem that youre going to have with some of these different you know devices is you might not use this you might say unless i have all my phone netflix h. B. O. A few things like that but i dont want these particular kind of unknown apps to be on there im never going to use them the problem is youre not using them theyre using you. Thank you so much for that fascinating insight ben swan thank you for your time. Does things. India is ordering an investigation into ecommerce giant amazon and Walmarts Flipkart over accusations that the american based companies violated Competition Laws for more on the investigation we turn to legal journalist stranger with americas lawyer some ali what are amazon and flipkart accused of doing. Hi kristie will the complaints against the 2 companies was followed by a group in india that represents small and medium sized businesses and theyre making accusations against these companies that have been made for a number of years now they allege that several of amazon and flip cards socalled preferred sellers were affiliated with are controlled by the companies themselves either directly or indirectly remember walmart purchased a majority stake in flip car back in 2018 well as a result the countrys Watchdog Group the Competition Commission of india ordered a wider probe this is according to reuters in the c. C. I. Outlined for problem areas if you will lead to anticompetitive practices including exclusive launch of mobile phones by these Ecommerce Companies promoting preferred sellers on their websites deep discounting prices prioritizing some seller listings over others so basically in general the brute Group Bringing this complaint says that this is preferential treatment its hurting Small Businesses and again this comes after walmart just invested 16000000000. 00 to buy that big stake in Indias Flipkart its the biggest deal ever for walmart also amazon founder jeff bezos will be facing protesters most likely is expected when he comes for a planned Company Visit to india next week to talk about exactly this making more connections with small and Medium Business owners to expand ecommerce so amazon walmart other companies theyve really been trying to make inroads in india for some time and this is just the latest problem that theyre facing trying to tap into that growing market looks like the 16000000000 dollar question here is how will this impact their ability to do business in india because thats what theyre trying to do in the 1st place. Thats right while theyre still there that you know for exam. Well walmart is really pushing wholesale to a lot of the smaller retailers this is one of their 1st steps in getting there but each time they try to take that 2nd step which is to create more of that ecommerce relationship it seems the country implements more regulations and so even though amazon flipkart say theyre abiding by these regulations. The Companies Just continue our country exactly for example continues to sort of push back against them out of fear that theyre going to take advantage of indias you know smaller mom and pop type businesses and this is a huge market were talking about india its got tremendous ecommerce potential 1300000000 people its the worlds 2nd Biggest Smartphone user base so of course its a key market for online retailers is one of the reasons walmart was even interested in flipkart to begin with but again these are the same allegations that keep coming up each time they try to expand and target these smaller businesses and create these relationships that these companies are violating indias Foreign Investment rules theyre burning billions of dollars are for these huge discounts that end up hurting smaller businesses so even though the country has continued to pass these new regulations to curtail their growth amazon flipkart say theyre in compliance with all rules and theyre not going anywhere even if bezos does get protested when he makes it to india. Where as contributor with americas learned thank you so much. Thanks christine. And finally General Motors is planning to unveil a brand new all electric pickup truck under the branding of hummer according to a report from the wall street journal now according to these reports the new hummer truck will hit dealerships in 2022 under the g. M. C. Brand and at this time it doesnt appear that there will be a full revival of the hummer line of bessies which was the h one h 2 n h 3 now previous versions of the massive s. U. V. Were based on military humvees g. M. Also sold 2 smaller versions branded as i said the h 2 n h 3 now the brand went defunct in 2010 following the Global Financial crisis crisis which sent fuel prices skyrocketing and resulted in a bailout for General Motors and several other automakers here in the United States now the new evie version of the hummer is part of g. M. s multibillion dollar plan to release 20 brand new eveys by 2023 of the new vehicle will apparently get a star studded roll out during this years super bowl with an ad featuring n. B. A. Superstar Le Bron James now kristie i do find it interesting because these were massive heavy vehicles which is not generally conducive for and evy so its a wonder if theyll keep those big body styles if they when they move forward well apparently it seems to be the new trend of us must come bail his new cyber truck so apparently its very very masculine very bulky very muscle cars that are electric driven so it is interesting when were going to see that what i think thats 3 or 4 weeks away so we will get all the details about this brave new hummer that thats it for this time you can catch boom bust on directv channel 321 to 80. 7 on the t. V. Ad. Or as always have us up at you tube dot com slash. See you next time. You know world is a big partisan issue. And conspiracy its time to wake up to dig deeper to hit the stories that Mainstream Media refuses to tell more than ever we need to be smarter we need to stop slamming the door on the bath and shouting past each other its time for Critical Thinking its time to fight for the middle for the truth the time is now were watching closely watching the hawks. From a. Little boy is no good keep the slime view of course knew the couple told us how do you sleep. You want to get what. You see in the film was not those pretty clearly the most good movie the. Group. You know my mom. You know shame on you dont let us. Know what it. Is we ponder the future and look into 2021 fascinating stories will come our way there are often said on this show that you cant have capitalism without Capital Capital without positive Interest Rates encouraging people to say and this next story this next whole show this next entire segment is going to be dedicated to this very notion. Of my in the news in my. Brain to bouts of a time about what members of us anytime that were in a sense is about more about the. One with more than the side the focal point. Seen the guy doing to him but im before. Him but i. Now embody im not moved on the. Least. On. Tweets on assassinated. Saying that even if he was not a threat to the us the iranian generals track records sealed his fate. Leaders of libyas warring factions gather in moscow for cease fire talks brokered by russia and turkey it is hoped to the war torn nations rival administrations will soon sign an agreement ending the conflict. E. U. Funds to boost infrastructure in east africa and prevent Mass Immigration to europe are in the firing line accused of driving modern day slavery. Dot com for more on the latest headlines right now because
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