Transcripts For RT Boom Bust 20240712

Results so i think would like to see a kind of we dont have a clue it would be a quite some time the kind of been. Much much worse this. d position so i think were going to see after the elections. We have a christie i believe us cohost with us as well whos just joining us now i want to propose that same question to you where do you see markets going in this next month and what or what effect will these Upcoming Elections on Global Markets and markets here in the United States. Well i think that 2020 has been a year that has been just marked by surprises and the unexpected so right now the real fear isnt about placing bets on whether or not or the real fear is that the results of the election wont be identified but on november 33rd and even if a winter is identified the transition they dont think its going to be a smooth one so there is the possibility that the election will get disrupted and could potentially even lead to violence so to that end a lot of investors right now they are facing the decision of whether or not to cash in their chips right now and pull out of the market for fear that this election is going to bring about some heavy heavy swings on militarily so Trading Platform such as Interactive Brokers they are now demanding that its clients put a more money in making its leverage bets on Financial Security so essentially meaning that it wants to reduce its margins in order to minimize their own risk exposure so meanwhile on the other end of the spectrum you also have a lot of volatility traders going all in seeing this as a. Generational opportunity to sell into the post nov election mention this so you see the derivatives markets right now is that for some make or break trades so with the potential for some monster results if the results play out correctly so right now this is quite reminiscent of the 2000 election where the election was actually decided on tell mid december and the s. And p. Had actually fallen more than 8 percent between election and december 15th when the when i was finally done decided and now our savior want to move off elections a little bit disposable income for consumers remains tight and now retailers are actually starting their holiday deals earlier to try to capitalize on seasonal spending we have amazon prime day coming up this week target deal day is in walmarts big save a how are retailers expected to perform in the 4th quarter of this year after everybody has been kind to her besides some ecommerce giants throughout the pandemic. Well i guess these deals seem to come early murder is. Going on the. Prison christmas has been a staunch ally i think it is interesting if you do justice because there are. Very very well so obviously the only schools i was on the only people. On the tree and its on some of the well. Some some basically chose like amazon the tone of also done very well through the star through this crisis the expense and maybe some. If you look at Consumer Spending so. In the 2nd quarter it actually was quite encouraging in terms of the. Not so good in the luxury side so thats the way the schools are. Pretty good for most of the players. And i think that was obscured because weve seen a lot of bankruptcy is so large in bankruptcy for a couple courses but those retailers who will be struggling a bit. On the edge just. Now kristie because it is actually storing monday pushing up against 12000. 00 whats given this because in the boost. Just like the market decline is going to be affected by big macro event play such as the u. S. Election run up and while we are ready expect a lot of volatility and turmoil coming out into this Goldman Sachs is warning that a bite in wind could drive the day x. Y. Which is the dollar and thats down to its lows to 2018 so big quien of course trick is trades invites to the u. S. Dollar so that would gain so the risk are very much skewed towards dollar weakness right now but with current less of whoever wins in november save haven assets will end up being the ultimate winner is as investors are going to shy away from a lot of this volatility and run to gold and back quite so right now many Public Companies have now adopted big quine in the last 2 months as a head. Against inflation a few currency so right now you have micro strategy who recently bought 425000000. 00 worth of bit quiet and the last 2 months as a hedge to square the Payment System who also put about one percent of all of its assets into big quines as well and of course he had the asset manager as an Advisory Firm or all holding hefty amounts of bitcoin now and there are bazaars and this includes Galaxy Digital holdings cyberpunk holding. All of them to their all inciting inflation hedge trades so meanwhile in their own fundamentals right now theyre holding up pretty well right now as the hash rate hit new all time highs over this past weekend suggesting that more Computing Power than ever are now moving over being dedicated towards mining and sense as long as short ratio also bottom now in october 9th point 75. 00 s. Instead of the climb and the 25 percent net short position actually now flip to a positive 23 percent net long position according to the data finance so now you have the entire futures market leaning on a massive bull rally up to about 14000. 00 now as a christian just mentioned there Goldman Sachs is recommending a short positions against the us dollar arguing that the risks arising from the backs in trials in the us elections are skewed to the downside for the greenback octavio how do you see these vaccine trials actually affecting trading of the us dollar got about 60 seconds 4 year. Old almost as if it in the highest. Trials in the us still more than the other car. Since the same. Drug. Bust cohost christy are in the c. E. O. Of optimist l. L. C. Thank you both for joining us today. And u. S. Energy companies started the process of returning to work along the u. S. Gulf coast on sunday after hurricane delta battered the region nearly. Halting all production chevron Royal Dutch Shell and b. H. P. All say their employees were headed back to platforms in the northern gulf of mexico but it can take several days for the companies to evaluate the damage and fully resume work the news comes after the us bureau of safety and Environmental Enforcement said 91 percent of offshore crude Oil Production was shut down due to the hurricane well more than 62 percent of natural Gas Production in the area was also halted the northern gulf produces roughly 17 percent of u. S. Oil and 5 percent of Natural Gas Oil prices fell monday as production resumed and there are real concerns that the battle over taxing text giants could trigger a trade war that would hurt the Global Economy at issue its the organization is the organization for Economic Cooperation and Development Efforts to revolutionize the way these corporations are taxed if International Leaders dont agree to the European Organizations plan some economists fear it could lead to chaotic range of taxes and disputes which could have major ramifications for global Gross Domestic Product here with more is legal journalist molly barrows contributor with americas lawyer molly thanks for being here what tax plan is the o. E. C. D. Proposing and yron all these countries on board. Well you know brian its only been since the 1920 s. That weve had a reform tax slayer when it comes to taking a look at this new Digital World economy and so that is basically the premise behind the o. E. C. D. Attempts to recreate this tax plan is to revolutionize it basically and it has 2 components which in the shell just make it a little more fair receive got these huge American Tech Companies Amazon Google facebook they are raking in the dough overseas but the tax system is based more on where your company is located where its origin is and so theyre not paying as much overseas where theyre raking in big bucks so this European Organizations try to create a uniform tax plan ideally that everybody would agree to that would be more fair that would include basically paying a fee to do business as well as having your Digital Services tax within the tax within the country where youre doing business so thats going to mean what that means that these American Companies are going to pay a lot more and so you see a lot of tit for tat we already saw earlier in the year there were some discussions over this negotiation the United States pulled out you saw what happened with france france earlier in the year one of the implemented 3 percent tax against Digital Services and the American Government led by the treasury ministration basically said no that unfairly publishes American Internet Services and so were not going to Digital Companies and were not going to go along with that were going to start taxing and putting tariffs on your stuff so thats essentially why the European Organization wants to do it and thats been some of the pushback from the United States and now theyre saying hey we hope to have a plan by the end of the year but the u. S. Isnt at the table negotiations are really moving forward were still hopeful were hoping maybe for next year but right now its at a stalemate theyre saying there could be big consequences because of that how would this plume help to avoid more economic problems worldwide. Well i think were already starting to see it i think hopefully what theyre thinking is that if everybody came to an agreement on a certain plan and agreed to this overall form of taxation a new way of doing it then youre not going to have individual companies coming up with their arbitrary numbers of how much theyre going to tax a france does 3 percent on facebook and spain does 10 percent in another country does another number and then in retaliation the United States or whichever country may feel theyre being unfairly targeted with a tariff you know snaps back with well were going to put tariffs on your champagne were going to tariffs on your luxury goods what is it that youre you know youre making a lot of money off of in our country and were going to tax that and so what theyre really concerned is that that would end eventually lead to like a one percent drop in Global Production whereas if they agreed to a uniform tax plan that was more equitable if you will then youre looking at 100000000000. 00 that could be spread out globally with this additional tax revenue but thats if they all come to an agreement and right down to this administration theyre not exactly hopeful but theyre not saying its a dead deal yet. This isnt the only road in u. S. Leaders have had with the European Union lately what the latest on the push for the u. S. To drop tariffs in the boeing airbus dispute. Well its interesting i think that thats a great question because really its a microcosm of exactly what youre talking about what these concerns are if they dont come up with an agreement that everybody likes for this new world Digital Economy taxation plan this is sort of a microcosm example because theres been this long going almost 20 year dispute between the e. U. In the United States over concerns that each has that their particular government is subsidizing or governments in the case of the you is subsidizing their civil aircraft industry in the United States it would be boeing in the u. S. Government supporting boeing and then and that would be airbus and so you know the new trade chief for the e. U. Is say hey dont pay tax and so much the United States is doing like 10 percent tariff and they want to up it to 15 and he say and if you dont do that if you dont drop this on these tariffs then we now have permission to go ahead and tax you on up to 4000000000. 00 of your goods and thats exactly what were going to do so again it goes to that tit for tat tariff that leads to trade wars and a slowdown in the economic you know progress and like we talked about earlier the you know could be a big drop in the g. D. P. If it doesnt go right with the digital part of it but you know were already heard from the coronavirus not just the United States but around the world and can they really take another hit like this with this tit for tat tariff situation lowly barrows legal journalist thank you so much for following the story. Thanks brant. Time now for a quick break here because when we return just how much are sanctions against chinese. Huawei affecting the companys ability to do business worldwide were going to break it down when we come back and as we go to break here the numbers that. Seem wrong. To me. Just to shape out these days thats ahead and in detroit equals betrayal. When so many find themselves worlds apart and we choose to look for common ground. Is your media a reflection of reality. In a world transformed. What will make you feel safe. Isolation community. Are you going the right way or are you being led. Direct. What is truth what is faith. In the world corrupted you need to descend. To join us in the depths. Or remain in the shallows. Camp capitalism without capital and you cant have it all without giving people an Interest Rate to incentivize them to save. And the reason to do that is that if there is a downturn like the cold then theres plenty of stock theres plenty of capital in your capital system to smooth it out but if you did face the current and new Interest Rates at 0 and theres no incentive to say therefore theres no cap on all then you dont have to apples and if you have a comp time or see run by such a banks then the worse it gets the more they pay themselves. A dark industry comes to life in los angeles every night. Dozens of women sells their bodies on the streets many of them underage. Los Angeles Police reveal a taste of their daily challenge no if youre going to exploit for a child here in los angeles they were going to come out as the officers going undercover as 6 workers and customers to fight the 6 trade. It wasnt so hard to know about that but at the start of. The problem i was like i was like its like you know im going to. Be. Here we go to the movies but there are here are some friends that the worst are still there but the so will be to do something this is a. Little. Bit short. How do about that theres a plurality of cells that are going and i will separate but the one that you know will go to that. And welcome back the u. S. War on way seems to have been working in terms of shutting down the chinese telecoms reach worldwide but a new report indicates that the u. S. Attempt to block wall way from accessing semiconductors its not working in parts of europe according to a new report huawei which is the worlds biggest maker of mobile telecommunication equipment and smartphones is still looking for a solution to help millions of their customers this after google was banned from providing Technical Support for new weiwei phone models which still use the android operating system well joining us now to stop this coast investigative journalist ben swan whos been following the wild way saga since pretty much the start of the whole thing bed while ways b. P. For europe says that washington was blackmailing chip makers into shutting ties with while away yet he claims the company is actually confident about its future why is that yeah i think the confidence comes from the 5 g. Sector what essentially theyre saying is that in europe for the countries that will still work with them while way is still the leader in terms of technology they still have more going on than a lot of their competitors do like nokia and ericsson and yet the real problem that theyre facing is in terms of that enjoyed operating system you and i have talked about this quite a bit we know that obviously you know what ways had to develop their own operating system but you have to consider the fact that for a ballots and i get this number right 90000000 european while way users 90000000 of them have phones that the android operating system is still on for that wall way phone so if you buy a new weiwei phone now obviously you can get those newer updated systems well for 90000000 users in europe if you have the old phone you have the enjoyed system and because of the restrictions the u. S. Has put into place android or google is no longer allowed to provide updates to that so your phone is essentially a piece of junk now as time rolls on so its a huge blow to to walk away and certainly you know if you have customers who have already shelled out 1000. 00 for a volatile whatever it is that people are paying for these and they say all of a sudden i cannot update my phone any longer thats a huge problem when you then turn around and decide if you want to buy another wall way for the future or do you go someplace else like for instance maybe samsung that has watched their profits go way up over the last quarter one thats such a huge deal in the cell phone market because its all about the next latest greatest technology and when it comes to software new apps coming out if theyre not compatible with the operating system then what are you going to do here now ben meanwhile why way it has been pushed out of another 5 g. Build out as nokia has actually been selected to help build 5 g. Networks in belgium was this it actually surprising move or do we expect this. Yeah i think we kind of expected it were seeing it in multiple places obviously you know a in japan and australia theyre moving their 5 g. Buildout away from while away and in this case as you said belgium is the latest to do this belgium obviously is a nato member and this and everybody seems to be kind of succumbing to u. S. Pressures the u. S. Is pressuring very heavily around the world as we know in the u. K. And in Different Countries to say dont allow way to build out your 5 g. So instead theyre moving over to Companies Like nokia and ericsson in this case its nokia but whats really interesting about this as weve said in the past is that there is no evidence so far that the 5 g. Technology that while wait which they again seem to be the world leader and is susceptible to any kind of hacking or backdoor access from the Chinese Government so even though the u. S. Continues to maddys claims and applies political pressure on countries like belgium to do this they are winning the u. S. Is certainly winning this battle in terms of applying the pressure and forcing these deals away from while way instead to these other Companies Like nokia and it would be interesting to see because a lot of this is due to the trump administrations trade war with china or at least where it seems to have started so as we get this contentious election in less than 30 days to be interesting to see where this whole situation goes i want to know one last point here before we go ben the u. K. Has released a new report accusing weiwei of having close ties to the Chinese Government but this report has come under scrutiny whats in the report and why are some finding it a little bit questionable here well i find it a lot of bit questionable for a couple of reasons the biggest one is simply the fact that the the u. K. Report does not go back and provide evidence for the primary claim as i mentioned a few minutes ago against weiwei that primary claim against while we remember is a claim that company has backed our access built into it that the Chinese Government were used to sabotage or simply steal data these claims are the oh they Chinese Government gave money to walk away and allowed the money to flow to that company that allowed them to sell at a cheaper price and to have. Influence in terms of selling their products thats what some venture capitalist makes this claim about well the problem with that is that governments all over the world do that with companies all the time they give subsidies to companies the chinese are not the 1st to do this they will be the last to do it the idea that it is it is a proof of a conspiracy because the Chinese Government offers subsidies to a private company well then theres a huge and spare sea going on around the world for every airline in the world right now where every government in the world is offering those subsidies and i think thats where you have to make a distinction is that a conspiracy to steal data or is it just about subsidies well and bad i mean we just talked about it with molly just moments ago the fact is is that the u. S. And the e. U. Are fights because theyre giving subsidies to to both bus and boeing respectively supporting a native company whether you agree with that its some would say all of the around its wrong some would say hey its fine youre just supporting a native Country Company so its very interesting and well see where this all goes boom bust cohost ben swan thank you so much for your time you got it. And finally as demand for air travel continues to suffer during the copen 1000. 00 pandemic Singapore Airlines has a plan to get customers on board 2 of its a 380. 00 super jumbo jets but theres a catch the 2 planes made by air bus while theyll remain parked airport in singapore and are being converted into pop up restaurants on the 25th of october only half of the seats in each aircraft are available for dining to meet social distancing protocols of course dining in one of the suite so thats going to cost you roughly about 475. 00 with Business Class going for around 235. 00 an economy takes well theyre just over 50. 00 thats a heck of a deal now if it seems like no one would want to go through the hassle of eating airplane food without reaching an exact their destination lets can actually shock you to know that reservations for the 2 dates they sold out in just 30. Minutes but there is hope as bloomberg says the airline plans to open a wait list and is working to see if they can accommodate more demand in the near future and thats it for this time you can get a boom bust on demand on the brand new portable t. V. App which available on smartphones and tablets through google play and the Apple App Store by searching portable t. V. Portable t. V. Can also be downloaded on newer model Samsung Smart t. V. s as well as roku devices or simply check it out at portable dot t. V. Well see you next time. It was a very nice show from president putin and i could have said no thank you or i could have said thank you and i said ill take it and now its time to introduce my special mr dont travel thank you says very much was the. Name whatever you want to name i mean i dont know how when i come that the news thats dishonest telecom data recorder or e networks and totally dishonest c. N. N. Is says you know a 100 percent negative i can read this change fast changes so sometimes ill say thats going to be a great story be a pretty good report and others good as you. Do well see what happens. I always say you know well see im still will be 6 and. The world is truly. Shaped by our own person of. The day or thinks. We dare to ask. You cant have capitalism without capital and you cant have tapped at all without giving people an Interest Rate to incentivize them to save. And the reason you do that is that if there is a downturn like the coke then theres plenty of seed stock theres plenty of capital in your capital system to smooth it out but if you defaced the currency and you know Interest Rates are 0 and theres no incentive to say therefore theres no capital then you dont have to apples and where you have a cutoff for c drawn by Central Banks then the worse it gets the more they pay themselves. On. The window sill job lol but that goes double of ill just. Keep on going to work because i want to buy digital audio. Out of the. Elite. But there are also france the us are still so but the sole hoping to do something this year. So yeah it sure will. They gathered up i think theres a lot of oil about whats up with a lot of that kind of approach that happens. Off. Is your media a reflection of reality. In a world transformed. What will make you feel safe. Isolation community. Are you going the right way or are you being led. Directly to. What is true what is great. In a world corrupted you need to descend. To join us in the depths. Or a maybe in the shallows. Its the 4th day of a truce between armenia and azerbaijan is accused of sitting outside the immediate complex we hear from the armenian president in an exclusive interview with r. T. For. The real started this war that was there was side clearly. The 2nd wave of the coronavirus pandemic taking its toll on Health Care Systems around the world a new survey finds a large number of nurses in france ready to quit. The World Health Organization says the lockdowns and not the best way to fight over 19 as they call sick