Cruel puppy mills are supported by dog shows and pet stores most of the puppies are coming from this large Scale Factory farming kind of operations are being sought and at stores even joined a good businesses are involved like agoa 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 jobs dont buy dog. Ah no team no crow. No shots no. Action the belt. Well. No 1st 12. Points your thirst for action. This. Boom bust the one business show you cant afford to miss and washington coming up markets continue to surge but those numbers dont seem to fall in line with the real economy is us weekly jobless claims continue to mount and as the fog of uncertainty is clouded the Global Economic outlook investors are rushing to safe haven assets like big coin and gold straight ahead we take a look at the moves with some crypto pros we have a packed show today so lets go and dive right in. And we lead the program with the disconnect between u. S. Markets and actual Economic Data now weekly jobless claims total 1186000 for the week ending july 31st the u. S. Labor department reported on thursday and now this came in below economist estimates of nearly 1500000 jobs lost and fell 249000 from the previous week marking the lowest level since the start of the pandemic now while this all sounds very positive keep in mind the continuing claims are still at what 16100000 despite dropping 5844000 couple this with that massive contraction in us g. D. P. By 33 percent for the 2nd quarter of this year and you would think markets should be in shambles but thats not the case since testing lows in march at the onset of the pandemic here in the u. S. The 3 major indices are thriving the nasdaq is continually pushed a new record high and now the s. And p. 500. 00 well its just a few percent away from setting new records which were established previously in february of this year while the dow hasnt been able to quite get to precode 19 levels the index has made substantial gains over the last 4 month so why is that well to break it all down this disconnect that were seeing lets bring in some expert analysis from cohost christiane and i am chief market analyst at the trade thank you both for being here its great to have you back so lets start off with you whats propping up this market and clearly this is unsustainable so. Were are we had it. Thanks for having me as always there are 2 major factors that really d driving this truck market price of oil of its support from the fiscal and Monetary Policy front because without this support no matter what the whatever happened there was no way for this market to all and its cheap these levels where we are today now the stock market is still waiting for an molests a 2nd stimulus package and that is likely d to push the last thing in thanks and as you mentioned earlier the dow index back in the positive territory for this year because it is down minute a 4 percent why the s. And p. 500 index is written a biscuit off achieving is all kind of less than a percent now what is the other factor the 2nd major factor which has been really driving the stock market is the optimism around prono our respects and that maxine being. Like coming to the market before the end of this year this is what the market is really anticipating the market is d really feeding that ok that was could be behind us with respect to one of our s. And from here on long in looking reach the last ounce that can certainly restrain the recovery economic Recovery Process but even wouldnt have that much of an economic and pursing power that weve experienced back in march or during the 1st with the 2nd quarter of the ship are you know i dont want to give mansi here and i am but i do have a follow up on this you know we often talk about why there are things so positive but the question is is there a catalyst that can cause this bubble to burst do you see that happening any time soon or with all of the factors that you just mentioned are going to continue to go up. There is always a possibility because right now market pundits have been comparing the current market means that what happened back in 2007 during the financial crisis. Really how that 4 string and then the market dropped and a drop to a substantial level so right now there is no doubt that the current. Problem are a stock market rally is primarily contribute the contribution comes from Retail Investors or the us will call that what weve heard its right now if these one who has the come out of a market and if the Economic Data begins to rule over what were going to do were going to fall back to the fed were going to say look for more stimulus package from the fed do further i mean the fed doesnt have many bullets left in terms of their Monetary Policy the only thing rich is the left foot of and which is the most prominent factor or the most prominent think that for the fed to use is their contribution is there are separation is there any intervention into the into the stock market and i am speaking of direct intervention through the an e. T. F. Just like how the fed is doing in the in the e. T. F. Of the corporate e. T. F. So i mean that is the only thats the next step from the Federal Reserve but what can really break this corner are a stock market rally if we dont get the coronavirus seen by the end of this year its based coronavirus the numbers continue to. Fire and then the situation continues to go. Out of control that can certainly prolong the Recovery Process that can certainly be you know take that the ship out of reach 1st still i dont see the stock market crash to an enormous level and of course all of a christan here now retail has been a sector that has been hard hit with a pandemic but now that is having a domino effect on real estate whats the story there yes the u. S. Retailers they want to name that the have been heavily hit by this pandemic and the subsequent shutdown so weve had Numerous Companies now declare chapter 11 and those companies include Neiman Marcus and taylor event theyre all using that. 11 bankruptcies in order to quickly get out of their costly long term leases and shutter thousands of stores now but this move kind of threatens to up and huge swath of Real Estate Market and about half a trillion dollars for the commercial Mortgage Backed Securities Market so this is quickly becoming a tsunami of retailers now just rejecting their leases which will have big ramifications for the mortgages held by the landlords who are very opposed to this so landlords now are feeling the pain and companies are just c. B. L. And associates the owner of more than 100. 00 Shopping Centers in the u. S. They are now preparing to file their own bankruptcy after rent collections debt so 16 percent of retail prop loans in the city by they were delinquent in july so now as many as 25000 stores in the u. S. Are expected to close in 2020 mostly within shopping malls and this is only the beginning as cushman and wakefield estimates that 10 percent of already occupied retail location aka 1200000000 square feet they will go vacant by the end of the year and so officially now more retailers have filed for bankruptcy than any other year on record in history and now kristie as the pandemic continues all parts of this economy fraud is on the rise as well u. S. Losses from kroeber virus related fraud have reached nearly 100000000 since march tell us about that yeah so this is a really interesting phenomenon the criminal industry surrounding cove it has been exploding with complaints of scams nearly doubling in most states and this includes all scans and criminal activity surrounding covert from fake stimulus checks to shopping scams and fake cares and a study by the Consumer Protection group showed that california florida new york texas and pennsylvania were 5 of the most targeted states combined they account for more than a 3rd of the more than 150000 instances of covert fraud reported by the f. T. C. Nationally so in total victims have now been swindled out of about 97 point 5000000. 00 to date and this is a really unfortunate phenomenon that in desperate. In the midst of a deadly pandemic that is turning people towards a criminal activity in order to make ends meet not that anyone is supporting us but price gouging and other criminal activities and products can have also become widespread as well promising everything from immunity to kobe cures and everything to unsuspecting buyers only to then steal the victims credit card and identity now and youre sitting there and joining us from london right now so and weve talked obviously heavily about Central Bank Intervention here the bank of england is actually saying now that there is a possibility theyre not really wanting to do it but its in their back pocket of negative Interest Rates what can you tell us about that. And of op were not anticipating for the bank of englands to go d down the park and hes harm so if you. Choose the. Community bob. And. Are you listening to what the what they were the bank of england has done im not going to call the massachusetts hawkish but it was always for the market because the price is killing wrong is. The bank is feeling comfortable where the corner virus. Infection they still believe that its relatively flat they do not see the situation becoming as well as or as bad as it is in the us believe that the us. The g. D. P. The Unemployment Rate and the rest. Well which its been jobless benefits which you guys got over in the United States d do exist the aussie moment not to mention the mast also. Despite that i think bank of thing then for the time being is keeping peace options open and its not ready to jump into negative territory in negative territory with respect to its Interest Rate robust cause christiane i am azam of eva trade thank you both. For breaking that down for us today. And lets take another look at the global spread of covert 19 in the efforts to control the spread of the virus with our 2 correspondents sorry where are we on the ground right now more than 18800000 people around the world have been diagnosed with kovan 1000 while the global. Death toll scuse me has surpassed 714000 but more than 11200000 have recovered now in the u. S. More than 5000000 have been confirmed positive for covert 19 and the death toll now has surpassed 162000 while 52 percent have also recovered now taking a look at the u. S. Economy in the u. S. In the u. S. I say nearly 1200000 americans have filed for unemployment last week now thats an increase of about 250000 from the previous week but still its pretty high and still is the lowest since a mid march now as you can see these are weeks right down here so for 20 weeks in a row at least 1000000. 00 americans have filed for unemployment and so far in total more than 55300000. 00 americans have claimed for unemployment since to pandemic began brand and negotiations are taking place right now over the next quarter in 1000 stimulus package which president said on thursday that he would likely move forward with an executive order if white house and congress do not make progress in their negotiations will have to see where that goes brant no sorrow obviously the race for the back seat is on where we in the us when it comes to that so right now a 3 companies are working with the u. S. Government and which is pouring. Billions into developing the cloven one teen vaccine now those 3 companies are the most promising and moving quickly very quickly into phase 3 trials which is a final stage before seeking approval for safety efficiency and dosing before it actually hits the market now those 3 companies are mcgurn a pfizer and no over x. Now madeira not the 1st one is a bias a Company Based in can bridge massachusetts and is the only company from these 3 thats developing the vaccine with the help of the u. S. National institutes of health now theyre out of phase of 3 trial was announced just last week and its going to involve about 30000 adults at 89 a Clinical Research sites across the country now so far more than half of their participants reported side effects normal for a vaccine which include things like chills headache muscle pain and fatigue now the next one then there is pfizer thats right now developing more than one vaccine when partnership with German Company bio and tech now the most promising one is there be n. T. 16. 00 to be to a vaccine and its moving into a combined face 2 and 3 also started last week so theyre going into phase 2. 00 and 3. 00 together now if their trial is successful pfizer and bio and tech have said theyre on track to seek a regulatory review as early as october and if they get an emergency authorization from the f. D. A. Which is very likely the plan to have about a 100000000 doses by the end of the year and about 1300000000 by the end of 2021 now those side effects with bad drugs are generally mild to moderate lasting about one or 2 days which also include fever for tb and chills now lastly there is no over no overexcite which is a maryland a base bio company entering into phase. 3 trials next month so in the fall and phase 2 trials have showed that the participants god the vaccine had levels of antibodies that can fight off the virus that are 4 times higher than those developed by people who have recovered from colvin 19 so thats very positive and on the safety of this vaccine some have experienced severe side effects including muscle pain nausea and joint pain and those have lasted about 2 or 3 days on average so while there is a lot of disagreements between medical experts there is one thing that they all agree on that the cove in 1000 vaccine is not expected to be ready before the end of the year brant argued correspondents are experimenter thanks for keeping us up to date and time now for a quick break but harry here because when we return safe haven assets are back in the spotlight as the Global Economy stands on shaky ground just on the other side we break it down with some crypto pros and as we go to break here are the numbers of what. I. Told. How can you explain love ive been to 82 countries i did in 12 but i came here and in those 3 days i just. Sick show. I made my decision to come here because d i felt i could build a new life here. You know companies. Decided that this money is no good to be free. Then. My one dream is that all my children find the same kind of happiness i do. I love my home i love cold weather i like the culture i like the history like everything about it. And i know that i am. A russian fine. More robust morals would be one in which we do business as usual but guess what. We prepared for. A lot cheaper reduced mobility you know the jury is a lot cheaper than having. A welcome back during the pandemic its no secret that investors have moved to safe haven assets in the past that has been traditionally gold but big coin has emerged as a clear rival interestingly the divide between big corn and gold is largely generational now older investors prefer gold while millennial is are rushing into crypto and bit coy so joining us now to lend their insight is a school bus cohost investigative journalist ben swan and Jeffrey Tucker the editorial director at the American Institute for Economic Research now but i want you to break down this generational divide for us. Yeah its Pretty Simple i mean gold obviously just hit an all time high of 2000. 00 and older investors who know gold as a safe haven asset they know that its something that governments around the world strongly desire and want to be involved in and they know that golds been around literally for amber and so they anticipate that it will continue to be they are hedging their bets with gold whereas younger investors millennial are leaning towards big coin which some call and our own chris the i calls it digital gold right its a safe haven asset but its also much more portable much easier to access and much more fluid obviously then you know gold would be so were seeing a clear divide between the Way Investors are moving right now younger investors millennialist they really are interested in big quoting Digital Currencies older investors sticking with Precious Metals now jeffrey would this be the case does it mean that its only a matter of time until big basically overtakes gold as a primary safe haven or is this going to be a situation where maybe as you become more experienced with investing you realize that gold is a little bit more static more safe for you it may not get those big returns but you have the long jetty what are you seeing here now. Has a lot of advantages over gold in some ways because of his portability it doesnt take up space its weightless is easier to get as you said its actually more affordable you know you. Lot of a lot of. People getting their stimulus checks and. Their money. And its pretty funny its also fungible with all the other cryptocurrency is you know if you get involved in an exchange. The markets are pretty big so its got a lot of advantages gold does have advantages of longevity and that sort of thing. But i dont know i mean i see them not so much as competitors with each other as as being part of peoples safe haven diversified safe haven portfolios and by the way ive seen this Development Since 2013 i wondered when i 1st. Began and encountered because and began to play with it you know i saw that it was behaving very much like what you think of as a digital gold absolutely and its interesting because i mean ive been to several crypto conferences throughout the world and you cover and when you look at that generational divide you really do see it that it is a lot of millennial is out there now is there anything bad and that can actually slow down because of rise in this space. Yeah i actually think there are a lot of things that can slow it down the biggest thing are governments around the world look we know that the federal government in the United States is not a fan of big coin does not like it sees it as a competitor to the u. S. Dollar the i. R. S. Hates it coing they do everything they can to make your life miserable if you have it the trumpet ministration doesnt like it but i think beyond that were seeing rivals in terms of what china is doing with its own Digital Currency right now which is a central bad Digital Currency and i think over the next probably 10 years were going to see most nations around the world if not all of them attempt to move toward some kind of Digital Currency remember chinas Digital Currency will become effective fully effective they want it by the year 2022 when they host the olympics thats what theyre really hoping for but once china goes this route i would imagine most advanced countries would try to follow suit the u. S. Is probably the furthest behind of any advanced country in the world and yet i think were going to see the us ramp up to this and i think that becomes the biggest competitor and stumbling block for big korean because they wont want the competition you know jeffrey i actually want to talk about this is big because we generally mentioned big point obviously i know you 2 are very well versed in this so you dont see it this way were talking about because of the situation going to be that safe haven Digital Asset or is there going to be a Different Court in that maybe takes place eventually as maybe when this regulatory hurdles go away are we really like short changing the future when we always mention bitcoin rather than thinking of crypto as a whole here. Were on has the Largest Network and lets just be clear this network is actually increasing and for me not the latest increase of the prices are not just to lose various is not just speculation and youve seen gigantic increases and volume of trading in the whole of 2020 and then after the lock downs came it really started to move and these are these are big numbers big traders and also you know moving lots of money because its agile its expensive to use which i think is another stumbling block that i think ben would agree with me that thats a problem with because but but nonetheless this is a serious thing and its got a huge network its going to be i think a very long time before in the year the crypto competitors will will have the kind of volume and the market cap that because it has to some of these other currencies a smaller kryptos are very useful in some ways more useful than becoming but becoming is becoming that thing that it seemed like it was kind of destined to become after the stop scaling which was you know kind of behaving like a like the foundation of a crypto Monetary System and our goal is obviously stood the test of time really its hitting all time high that we see it right now do you believe jeffrey that its going to continue to outweigh the newcomers that like crypto currencies and like bitcoin or or will it eventually go down. So i have to tell you that the moves in gold over the last several months have surprised me and i dont think we would be seen anything like this were it not true or this sheer of inflation what the Federal Reserve is doing right now is utterly insane let me put it differently and to be more moderate its unprecedented. And bet youre one of the 1st to see this. But its just just downright terrifying to look at sort of reserve Balance Sheets right now so that is whats driving the gold price up right now i think without the Federal Reserves actions gold would be kind of the same old boring yellow metal that has been for the last 510 years and as the prayer endemic continues were going to keep an eye on this follow the movements of bitcoin as well as crypto currency and of course gold here on boom bust boom bust cohost ben swan and Jeffrey Tucker of the American Institute for Economic Research thank you both for your time. And finally now here on boom bust we have talked about the bustling business of video games amid the pandemic as the industry has seen a massive spike in sales streaming in time spent playing and now we are really seeing the effect on bottom lines as giants the field file earnings reports now nintendo reported thursday that operating profit had jumped 428 percent for april through june quarter outpacing expectations now the companys operating profit for the quarter was 144700000000 yen a huge jump from the 27400000000 yen reported for the same quarter last year now a lot of this can actually be attributed to the massive success of animal crossing new horizons which has sold more than 22000000. 00 copies after releasing right around the start of stay at home orders here in the United States consuls Council Sales were also up as well as nintendo said the switch and switched light sales grew by 167 percent to just over 5 in. Half a 1000000 units sold in that 3 month period they were alone as Activision Blizzard the publisher behind smash hits like call of duty and world of warcraft so revenues surged nearly 75 percent to just under 2000000000 while take to interactive the publisher of the n. B. A. 2 k games grand theft auto and Red Dead Redemption they saw a 54 percent increase in revenue over that same period of time very very and thats it for this time you could catch boom bust on demand on the brand new portable t. V. s which is available on smartphones and tablets play in the Apple App Store by searching portable t. V. Portable t. V. Can also be downloaded on newer models smart so smart t. V. s Samsung Smart t. V. s as well as roku devices or simply check it out at portable t. V. Well see you next time. A short term ago an american airplane run by hiroshima. State not claim any. Political class that. How until and you dont know that chin its. I like most americans growing up after the war the bombs were a great thing they ended the war they say hundreds of thousands of lives on both sides and thats what my grandfather always said was his reason for the decision. Truman was hoping for a dual strategy one was to drop the bombs and hope that japan would surrender their number to the americans were trying to send a message to the soviet union and there was american poor planning in october 145 who had chosen 20 targets and russia. Is your media a reflection of reality. In a world transformed. What will make you feel safe. Isolation or community. Are you going the right way or are you being led so. Direct. What is true what is faith. In the world corrupted you need to descend. To join us in the depths. Or a made in the shallowness. In todays headlines after almost 2 months of trials russia expects to register as the worlds 1st boxing against kobe 19th by next week. Also this our present receives a grand welcome in the lebanese capital as the french leader spearheads calls for International Aid efforts but some question the real intentions of his visit to beirut. And chinese video sharing app take talks says it may go to court over sanctions imposed by executive order by the u. S. President
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