Transcripts For RT Boom Bust 20240712

And seriously and cautiously consider whether or not it should halt its sales negotiations the Chinese Ministry of Foreign Affairs for their part also weighed in on the situation monday. Chia the. China has repeatedly stated that we are going to to the u. S. Abuse of National Security concept and state unreadably suppressant lifting enterprise measure of other countries will move fundi us it to me with no economic bullying to manipulation tactics against non us companies. Whether it is legal to coerce transaction with the government mandatory transaction to do what the us has done is nothing short of actual words to robbery out of the interests not only violates murders and suppose but is also an irony your ship was a market economy and fair competition principles the us it has always advocated and joining us now to discuss this boom bust cohost investigative journalist ben swan whos been following this. Story but i want to start with these new regulations what specifically do they do. Yes in chile its different departments of the Chinese Government it is the Science Department it is the Technology Department and it is the Commerce Department and essentially the 3 of them have new regulations involving different areas including computing Data Processing technology as well as text analysis content recommendation speech modeling and Voice Recognition brant you and i would know that as every bit of technology that goes into a social Media Company right and so what they did is if the centrally created new rules say if you are a Chinese Company you cannot sell that Technology Without approval from the Chinese Government thats really the bottom line here you know up until these new restrictions were actually and now its tictac was saying that announcement for their north american sale would be announced within days or within a couple of days some even saying tuesday so that would be tomorrow who who is the most likely candidate to acquire the company and you think thats still on. Well up until this point its been really down to 2 was oracle and microsoft and then late last week we saw microsoft joined in their bid alongside walmart and so walmart and microsoft you know it could easily push that bid up to 30000000000. 00 and if thats the case you would think it would go to them but i guess the question becomes not so much will tick tock or bite dance attempt to sell to talk to microsoft and walmart the question comes down to can they do it with these new restrictions that the Chinese Government has put into place now you could argue and say well listen theyre selling off north america meaning the United States and china theyre selling off new zealand and australia thats the part of their core business theyre selling and theyre not even actually selling the business that sounds like the way theyre rolling out this this cell would be to sell assets that belong to the company that essentially comprise of the north american technology. The question is not can they do it im sure theres a way for them to do it its what would be the ramification for doing so are we talking about criminal penalties against the owner of my dance are we talking about criminal penalties for the executives in charge or even chinese investors and if thats the case then i think you see it halts because of the consequence of moving forward is that ultimately what beijing is doing here and its interesting i would have to see how much the split of tick tock while there is the chinese version of the app and then theres the app thats basically used everywhere else how that would play into it now i want to bring up that whole walmart angle because on the tech side it clearly makes sense that microsoft would actually want to jump into the social media space but why would walmart what ahead of this. Yeah i mean obviously as you said microsoft wants a piece of it because they have been abysmal as a company in terms of developing any new technology they cant even get a Search Engine right now suddenly they want to acquire basically the hottest social Media Company in the world so its a good move for them for walmart though its kind of an interesting move here because walmart is way behind amazon as you know as an Ecommerce Company and thats where kind of the new step for walmart has to be is to develop its ecommerce business the reality is the vast majority of young people who used to talk the millennial and teenagers who use it also dont shop at walmart on a regular basis and they increasingly do so less so what walmarts not trying to do with take talk is encourage them to walk into walmart what they would want to do is build an advertising model d directly through tick tock that encourages those millennial and those teenagers whatever generation there and to essentially become part of the ecommerce side of walmart by making it cool as a part of and of course you know that walmart would have a hand in wanting some of that data that is being collected by any social media app goob us coast investigative journalist ben swan thanks for breaking this down well have you back on later this week to talk more about this youve got to print. And shine on monday announced growth in manufacturing for the month of august as the nation continues to set the stage for an economic recovery after being battered due to the copan 1000. 00 pandemic the manufacturing purchasing Managers Index came in a 51. 0 for august down slightly from the 51 point one reported in july cording to the countrys National Bureau of statistics now for reference remember a p. M. I. Reading above 50 shows economic expansion of the Services Sector in china is also growing with nonmanufacturing p. M. I. Coming in a 55. 00 for august compared to 54. 00 for the month prior government stimulus funding Infrastructure Project has helped the recovery along with exports of medical supplies which surged in the 1st half of the year due to the pandemic so lets go ahead and take a look at the globe for Global Recovery as well as the state of markets with tobin smith c. E. O. Of Transformative Research tobit always a pleasure to have you here i want to start with this data out of china they were the 1st to institute these lockdowns and one of the 1st actually lift orders so what does the Economic Growth were actually seeing out of china say about what we might be looking at a Global Recovery what that might look like. While it is says this is china got it right and most of the rest of the world got it wrong now obviously its a totalitarian country when they say were close in the cities you close the cities they have surveillance over every human being there so they have some unique abilities that the rights of the rest of the west did not but couple of things the west got a mutation we have actually the l. Strain which is different than the original m. Strain which turned out to be you know a stronger virus and then you know we got a message from south korea and we got it from taiwan that theres a way to do it in a democracy they did a lot of shutdown australia did well canada did well but the main message is United States and europe you blew it and really until we get to a vaccine dont expect to look like china now i want to move to equities here obviously the s. And p. Alone gained 7 percent in august the largest increase since april now when its all gains of more than 12 percent after that dismal march what do you take away from the strong month for the s. And p. And the other indices here in the u. S. Well theres really only one message at this point. If you take in this and p. 500 the technology the telecommunications and the medical care medical tech thats about 54 percent of the entire pod of the s. And p. If you think about it so if energy and banking for instance which used to be 30 percent are now you know 1518 percent if energy and banking go down one percent but the technology i call it the tetra caps the trillion dollar cap and high near trillion dollar cap stocks it doesnt matter the s. And p. 500 will go up simply because the big part of the pie this is my big diagram here is so much larger number one and number 2 it has so much higher earnings because remember theyre able to borrow money apple just borrowed if you can believe those 5 year notes theyre paying one percent Interest Rate they take that buddy they buy back shares because they generate much more cash than they can do. So their earnings per share go up automatically regardless of the Business Environment its because theres less shares and they sell everything by subscription so multiply that over all of these companies and theres a very real reason why they are a juggernaut and its not like 1999 when companies are going up because they had eyeballs i mean theyre going up because their earnings per share are about 50 to 200 percent higher than the bottom part of that pie and thats why the markets going up and so but i want to hit on something a little different here because when it comes to investing the world generally likes to keep an eye on Warren Buffetts Berkshire Hathaway and the firm announced sunday a 5 percent stake in each of japans 5 biggest trading houses worth more than 6000000000. 00 now this is clearly a move to reduce dependence on the u. S. Economy what do you make of this move. Well its classic buffett number one he spread his bets he put money into each 1. 00 of these secondarily these are Commodity Trading houses what they do is they trade everything from noodles to wheat to gasoline to oil and as commodities as is demand we talked about the 1st segment starts coming back then Commodity Prices will firm and go higher so hes going to double there he gets dividends from these he gets about a 45 percent dividend as the dollar goes down and the yen goes up that means that he gets paid more money and then he also gets to see the deals that these guys look at and hes always looking for a way to take over a big company and these guys do a lot of business with Big Companies so its perfect classic Warren Buffett smith always great to see that smiling face of Transformative Research thanks for that expert analysis. Terrors. American Vaccine Company nova vax announced monday it had reached a deal in principle with canada for 76000000 doses of its koeppen 1000 vaccine that the companys vaccine is currently in phase 2 trials while nowak says it could begin late stage trials as early as october while the prospective vaccine will need to receive a license from Health Canada to secure the deal they said they hope to finalize the agreement with canada as early as the 2nd quarter of 2021 now meanwhile here in the United States food and Drug Administration commissioner dr stephen hahn says there may be an opportunity for a Pharma Company to bypass the full federal approval process to make a vaccine available as quickly as possible dr holmes spoke with the Financial Times about the situation saying its up to the vaccine developer to apply for authorisation or approval and we make an adjudication of their application if they do that before the end of phase 3 we may find that appropriate we may find that inappropriate we will make that determination and meanwhile the European Commission announced it would contribute 400000000 euros in guarantees to the kovacs facility a program with the World Health Organization to ensure access to a future Coronavirus Vaccine the president of the European Commission spoke about this that contribution monday and the commission will also make a contribution of 200000000 in guarantees to the cover. And its goals. This country buescher will help buy and deliver doses of future vaccines for low and to middle income countries. In parallel we continue negotiating with pharmaceutical companies to purchase doses of vaccine so on behalf of the u. Member states so with all this in mind lets go ahead and take another look at the trends and spread of the virus globally with r. T. Correspondent side to average or so where are we so brand right now more than 25500000 people around the world have been diagnosed with covert 19 wide more than 17000000 people have recovered so almost 70 percent have recovered while more than 852000 people have died here in the u. S. As o 4 pm monday more than 6100000 confirmed cases so we are now in the 6000000 mark while over 187000 people have died now over the past week theres been an average of 42000 cases per day in the u. S. Now thats a decrease of 18 percent from the average 2 weeks earlier but only down 1. 2 percent compared to last week so we need to see this number we need to see this trend go down drastically to show some sort of improvement for the u. S. So now lets go over the states specifically that are improving and the ones not doing so well so these states have seen a recent growth in the newly it reported cases so this is where were seeing cases go up for example as south dakota theyre reporting an average of 292. 00 cases per day and thats an increase of 206 percent from last weeks thats a huge increase now another example is i. R. There is seeing increased 131 percent of new case. Its from 2 weeks ago so see these things that were seeing right here in red theyre increasing anywhere from 20 percent all the way to 300 percent increase in new cases so thats not good at all and then we have a states that are doing a lot better for example hot spots that were seeing huge surges in cases earlier like california new mexico arizona florida texas theyre all seeing their numbers actually drop drastically for example florida they saw theyre seeing a decrease of a 50 percent in cases from 2 weeks ago so thats very good tech says theyre seeing a 35 percent decrease arizona 53 percent decrease so thats all very promising and now i also want to quickly look at the global trend for globally look at the trend now here is the trend for the 5 most affected countries in terms of new cases per day so 1st there is india you know india reported 80000. 00 cases in the last 24 hours in fact in the last 5 days for the last 5 consecutive days india has reported almost 80000. 00 cases per day and thats the Fastest Growing of any country in the world i want to remind our viewers it to india almost 6 months to hit 1000000 cases and then only another 3 weeks who had 2000000 and only 16 more days to hit 3000000. 00 so at this rate indias total number of cases now at over 3600000. 00 is on track to number brazil to become the 2nd highest in the world behind the u. S. And now in the u. S. As i just went over there are seeing a slight decrease as you see in new cases but still theyre nowhere near flattening the curve i mean they were much higher in july theyre going down but still nowhere near flattening is where we need it to be. Then there is brazil thats reporting an average of 30000. 00 cases per day and is also the worlds 2nd worst hit country after the u. S. In terms of cases and you know and with a population of 211000000 brazil right now is the epicenter of the virus in latin america with over 120000 deaths and then we have beyond that there are the 3rd highest number of cases in latin america and theyve actually surpass 600000 cases on sunday and in terms of deaths there are approaching 20000 you see there just going up so thats not good for combi at all but this week actually today monday marks the end of colombias nationwide lockdown of more than 5 months so well be tracking this number in the coming weeks to see how colombia is going to be doing after theyre locked down now lastly there is peru which is the highest which has to highest crowd of ours death rate in latin america thats about 79. 00 per 100000 people and which there are surpassed their neighbors chile a and brazil in terms of their death rate so again these 5 countries that were constantly seeing on this list they keep seeing more and more numbers which of course well keep tracking to give you the latest brant or to correspondent sorry to have a juror thank you for keeping us up to date. And now for a quick break but hang here because when we were churn a post trade deals in jeopardy as the e. U. And the u. K. Are deadlocked over certain provisions of over whats holding up the talks and as we go to break here are the numbers of the quote. Is your media a reflection of reality. In a world transformed. What will make you feel safe. Isolation and community. Are you going the right way or are you being led. By. What is true what is. In the world corrupted you need to descend. To join us in the depths. Maybe in the shallowness. And welcome back ahead of a pivotal month of negotiations related to a post trade deal between the e. U. And the u. K. The French Foreign minister is blaming the British Government for a stalemate in these talks. See we need solidarity in the negotiations on the future relations between e. U. In the u. K. Negotiations that are not in n. C. Because of the intransigent unrealistic of the united kingdom. We always showed unity in front of a wrong those who saw signs of an overall implosion of europe. The 2 sides have been locked in negotiations over what trade rules may be in place after the brics a transition period which ends on december 31st the main issues which are holding up talks revolve around the state aid for businesses and access to fisheries you know the e. U. Wants to ensure u. K. Based companies will have an unfair advantage in circumventing the rules of the block and the u. K. For its part is concerned about that use contention it should get long term access to British Waterways now despite the tough words the French Foreign minister still called for solidarity between the 2 sides in negotiations the next round of talks will take place a week from monday in london for more on this lets go ahead and bring into our toilets board member of the British American Business Association hillary always a pleasure to have you on i want to start with the situation regarding this level Playing Field rules intended to stop or it is businesses from undercutting those in the you know what is going on with this and isnt this part of why we have bracks in the 1st place to be able to actually institute its own rules absolutely bang youre right on it is about 77 sovereignty in terms of trade deal sovereignty in terms of british law and sovereignty that means that the british can actually control their own destiny so yes the level Playing Field is a sort of like that is resentment because what they dont want to do is to have british rules and regulation be light on labor laws and bar mental laws and other sort of corporate laws that then undermine e. U. Industries and obviously give a better opportunity to do business with other International Nations with the u. K. And so what theyre trying to do is theyre trying to actually make sure that the abide by their rules will then to your point as you off why not with that bracket and now i want to move on to fisheries here because that seems to be an important contention. Weirdly for those around the rest of the world maybe dont understand whats going on with these fissures so if you could in mind give us a quick overview of what that is and let us know is boris. Ansons government really going to allow long term access to that you to these fisheries will absolutely not hes not going to but yes the issue with fisheries is as follows its actually a minuscule part of the u. K. s g. D. P. Very small whereas for europeans its absolutely huge particularly say for example for the french all 90 percent of all the harder that is fish goes to the e. U. 84 percent goes to the french and then called it likewise is over 73 percent the french catch and so these french fisheries but also the fisheries in the netherlands the fisheries in belgium the fisheries actually in germany they all are fishing in the u. K. British waters and so its huge a huge issue for the e. U. What does that mean in terms of bracks that it means that the u. K. Is being intransigent intransigent why because it doesnt really matter to the british because its such a minuscule part of the actual g. D. P. So right now what youre seeing is youre seeing bonna and the others in the e. U. Actually beginning to sort of panic because if the british do stay intransigent you will find there will be no way this deal will be done and well end up going to a new a no deal because the british the british hold all the cards since the bridge hold all the cards and its really not that important to them why are they holding this up do they want more money from the e. U. Or what are they trying to figure out here what theyre trying to as we just talked about what theyre trying to avoid is level Playing Field role and also yes theyre trying to make sure that they keep british sovereignty because Everything Else the e. U. Is trying to hold the british to really is making them stay within the e. U. I use the example its like being divorced but then having to live in the same household and abide by the rules where you no longer have any say and not being able to either date or remarry outside of the agreement outside of the divorce agreement the e. U. Is trying to basically ignore the very voting that happened in terms of 70000000 new cave voters voting to vote for breakfast breaks it what theyre trying to do is hold the british to too tightly to. You know what ive got about a minute left but i think the question is what happens if we arent able to make a deal in the next 4 months more importantly in the next 60 days because they want to get it done so they can actually you know the parliamentarians can look over it whats going to happen if there is no deal well 2 things and one thing actually with regard to the fisheries what will happen with the fisheries is that they will revert to International Law and International Law will have that the british waters all sovereign so as you can see the default is in the favor of the british and then with regard to the larger deal it will result in a no deal brax it the no deal breaks it means that all the trading rules for rules. The World Trade Organization rules that will mean that there will be delays supposedly our ports and there will be a lot of the lays in terms of products going into the u. K. But concomitantly what is happening is that the u. K. Is making trade deals with other nations such as the japanese and the u. S. And thats basically looking like it will come to fruition at the same time that breaks it comes to an actual final close which should be december 31st early ford which board member of the British American Business Association thank you so much for breaking it down for us today. And thats it for this time you can catch boom bust on demand on the brand new portable t. V. App which is available on smartphones and tablets you google play in the Apple App Store by searching portable t. V. You can also be downloaded on newer model say im so smart t. V. s as well as grow crude devices or simply check it out portable t. V. Well see you next time. I. I. I. Throughout its history john just with the selfproclaimed Islamic State terrorist group set up to 30000 foreigners from all over the world to find. If. This. Sounds of russian citizens left their country to join the terrorists often bringing wives and children with them. When he is not c. S. I. The bell lead is imposed on you that the is the mother has and you could move. All on you to the moon hundreds of children and widows were held captive all disappeared. And laughed oh my god thats nice and contains. Russia those children families wait. Sachets tries to make sure that the but gosh wasnt at the bowl of bullshit out that he had to. Stop the show so i could shake that taste of taste to shes ok so i pushed what i shall. Do which book i thought at which she doesnt have time to look what youve seen on the must do trick or moment for sure i. Want to go to the show because of my few bones for trivia. The mystery of the word support im still looking to the spirit for this interview are you going to use that its a stupid actually of course to be vocal or should stop them spinning. Expressed she. Was a pandemic no certainly no borders im just blind to nationalities. Has emerged with the really we dont look like seeing the whole world needs to be the chief. Judge of. Common every crisis with this system to time so we can do better we should. Everyone is contributing each or own way but we also know that this crisis will not go on forever the challenges created with the response has been must so many good people are helping us. It makes us feel very proud that we are in it together. So all this Insider Trading and the feds policy saying were going to expand quantitative easing indefinitely as you are saying thats the worst kept secret in the history of the world because there is only one thing they can possibly do they can only print you can only you cant taper a ponzi scheme if theyve often said before they can only print then they can only expand. Exponentially. You need a bigger base of the pyramid scheme has to get bigger and bigger and bigger it is showing up in prices Commodity Prices and we do see people now reporting back and forth food im starving on the street. During the vietnam war u. S. Forces. There was a secret war. For years the American People did not know. How much it is the most heavily bombed country per capita. Human history millions of unexploded bombs still in danger lives in this Small Agricultural country. Even today kids in los full victims of bombs dropped decades ago is the u. S. Making amends for the tragedy and. Help to the people need in that little learned of mines. This is a disaster for the migrants are leaving because theyre left alone tonight. The. President and i like of lampedusa protest over the arrival of hundreds of migrants with the local mayors saying that the region can no longer cope. Europe has done nothing for lampedusa on the problem of migrants no one listens and there is a deafening silence from the european and. China unveils new export restrictions that could prevent the sale of tick tocks a business in the u. S. We look at how spying allegations have sparked a bidding war for the popular. And the russian drags on is Donald Trumps former National Security advisor michael