Transcripts For RT Boom Bust 20240712

Relationship. Is key so that you need my right its my keeping low. You will not you also see in. This market axis or service that it is crucial to reach a deal both in the interest of the u. K. And the European Union Going Forward both for the economy. Our future generation but also because of you political situation in each i think we all feel in an increasingly unstable world. That you politically we Work Together to be reaching. You should be the outside world if you gave you would be able to come to agreement think its in both our interest you cannot repeat and you politically correct you. And joining us now to discuss is boom bust cohost an investigative journalist ben swan and hilary ford which board member with the British American Business Association thank you both for being here today another big 3 contentious areas so far that have prevented this deal fair competition dispute resolution and fisheries which is particularly important to france heres what the irish Prime Minister had to say about the issue of Security Issues around the level playing area on fisheries. And in terms of course in a dispute resolution subsequently there are some very serious issues of movement will have to be made on those issues and hillary now youve been on the show quite a bit talking about fisheries how big of a deal is this and where do we stand now with fisheries in these negotiations a pleasure to be back with the brand and yes youre right this is a huge. Issue but actually its a minuscule part part of the british g. D. P. Bob its a huge issue for from about 8 other nations in the e. U. Only about 180000. 00 jobs across the holy you depend on the fishing rights bob it would devastate the fishing communities of from each from spell germany germany denmark island and some of the and some want to a certain degree norway in the netherlands if these fishing rights want in some way settled now what the issue is is that basically all of these waters are british maritime waters and Prime Minister Abbas Johnson has said we have spectacular maritime wealth that was his exact quote and one of the things he said back in january was that initially when the u. K. Joined the e. U. Basically the fishing industry was sacrificed in the 1970 s. To join the e. U. And what happened was all these fishing rights were given away you have cities in france like billowing for example and they are dependent that entire community is dependent on fishing rights so what this comes down to is some of the fish such as you know the mackerel and the herring and the called the sold in europe and also langoustine and snails a lot of course going to europe about 73 percent of what they catch comes from those british waters the british want to maintain it and that was what bretts it was about so the bottom line it is a huge leverage card for the u. K. And it is something the wrong cannot back down on and he cannot see his fishing villages and his Coastal Community devastated neither can those other 7 nations so 8 and the e. U. Standing vos this is the leverage ship for the u. K. Burn october 15th which is what thursday is the deadline for these trade talks obviously that has been missed you know u. K. Prime minister Boris Johnson that is if a deal was not reached by the 15th that both sides just basically walk away and move on is that going to have. I dont think thats going to happen though i can see why that abortion is going to have to do some backpedaling here it seems like the u. K. Is going to have to still negotiate somewhat but there is frustration on britains part about how long this process is taking and one of the things thats been kind of voice in the media is frustration by the u. K. That either leaders have not had daily talks about this theyve actually taken their time and have dragged this process out and that part of doing that they say is because of coronavirus and co the difficulty of getting together but in reality i mean there was a very clear deadline that had been set and these these talks are taking a very very long time to kind of process the other thing is that the e. U. I think on some level once to threaten the u. K. And by say well we may not get a deal done and thats going to be bad for you but the truth is its bad for both sides especially right now in a coronavirus environment where economies are struggling so badly right now and europe has been devastated economically the u. K. Has been devastated economically by the coronavirus i think its in the best best terms for everyone to get a deal done the problem is if you keep dragging it out too long at some point you do risk one side just getting up and walking away and saying were done here and hillary it seems that the e. U. Doesnt really want the fisheries issue to be held until last an e. U. Leaders and Angela Merkel are saying that both the e. U. And the u. K. They must be prepared for the reality that no deal might happen is this just bluster or are they serious about this while i think they are but of course youre right about the blustering in that but neither side can appear weak they cannot appear weak and they cannot appear weak to that electorate i would say with regard to Angela Merkel dont forget she does not to the brussels bureaucrats who did she also too shall insist to the german public and to to kuli the german corporate engine that general cooper engine is comprised of course a lot of common in fact as b. M. W. Mercedes to mention just the 2 and of course siemens and other great manufacturers that sell their white goods into the u. K. When she says it. Has to be in the to the benefit and the interest of both parties shes talking about those german manufacturers that definitely want to do trade with the u. K. They dont want barriers they dont want lines and they dont want to hold ups so shes actually rocking a thin line between german electorate and the corporations these of the brussels bureaucrats what i would say is that neither side can back down but it is very disconcerting from a u. K. Standpoint to hear the e. U. A body has say while the u. K. Must compromise see the u. K. Must compromise well why wont the e. U. Compromise and to bens point they have been slow treading this why because they what theyre trying to run out the clock until the end of the year why for the end of the year because this was supposed to be the yearly the year of the trial period which ends on december 31st and theyre really dragging it out because they want to make it hard for any other nation to leave and as weve talked about before brant on this show that it is like a club they must make it as tough as they can and make it brutal for the british because if they let them go easily they will be other nations that will follow suit the dutch the swedish except for behind them it just seems to be where we get on this fisheries issue especially i know we focus a lot on that but when were on the fisheries issue it just seems like like you said hillary how the e. U. Could be so important to the e. U. In their economy yet they dont want to give anything up to get access to those british waters if you yes it would be like brazil insisting that they can fish in in the u. S. Waters americans would say what you know this is these are british waters this is British Coastal waters that were traded away in the 1970 s. So in your opinion is there going to be a can they come to terms others or are they just too far apart at this point where theyre going to have to come to terms on something although this is what actually the most interesting part is what will happen if this is drastic no deal theyll turn to the world trade. Organization trading rules which actually. They arent so terrible the jitters that everybody is experiencing right now in the markets are down so is the pound the reason is because of the uncertainty bought heres the bottom line to this whole thing the bottom line is that you actually have had the ports kalai except for and that was the condition of the trade in the trade and the towers in the cow porter kalai he actually has been suppressed hes been quoted as saying were ready we set up in terms of no trade deal i think that on the u. K. Side theyre set up for this its kind of like whats happening in the u. S. The reality is being suppressed by the Mainstream Media and youre not hearing that this wont be so dire its kind of like you know when trump was elected we were supposed to have a terrible war with korea we never did so i think its a lot of actually fear mongering of why this would be so drastic i dont think its going to be so tired but i want to hit on one last point here before we go where you much of the coburn if you pandemic just a few minutes ago there but how much of this is playing into the laser is it a lot about how the fact that leaders from the e. U. Actually have to deal with the pandemic in their own countries as well as trying to negotiate this as well and ive got about 40 seconds for you yeah i dont think that in reality it is the reason for it i think its been used as a very convenient excuse as to why its taken so long i think hillarys made such great points here but i think the biggest one is this why would the u. K. Even bother with this fishery issue right it is really the e. U. It is those European Countries like france and the dutch in the irish who really need they need this more than the u. K. Needs to give it up and so you would think if youre incentivize you step forward and do it i think in reality whats happening is theyre using cope with as an excuse but the truth is that if your economy as been devastated why would you ever even risk losing a part of of your manufacturing and agricultural base that is so important to the people in your nation would you simply throw that away or shouldnt that be the 1st thing on your list saying this is vital to us. Lets get this taken care to correct one cohost of boom bust and her 4 wish of the British American Business Association thank you both for your time. And. I mean as europe has seen a large increase in cases of coping 1000 nations are reinstituting more restrictive measures to stop the spread of the virus some nations are even looking at imposing lock down some of the what we witnessed at the start of the pandemic but the World Health Organizations regional director for europe dr hans clue says full scale lockdown should be the very very last resort while describing how the situation has changed look at the cold look down 6 months ago is not look at it today. In march look dome was a shotgun that every corner of society and economy has been hold that motoring business. No movement disclosed in march look dont want a default option book weve got a lot of garbage. Here with this in mind lets take another look at the trends and spread of the virus globally with our correspondent side of tablature so are aware of your search that serve brand more than 39000000 people have globally been infected recover 19 and 1100000 have died so while 75 percent of the total confirmed cases have fully recovered so 8 and 8600000 theyll occur in infected patients so 99 percent are reporting mild symptoms while one percent so 71000 people are in a serious and Critical Condition and taking a look at the daily newly infected cases versus the number of recovered and discharged patients per day on wednesday its 279000 people fully recovered yet another 382000 cases were reported on the same day so definitely not a direction that we need to be going globally now in the u. S. As we approach 8000000. 00 cases plus 7 months into the pandemic lets take a look at the daily new cases and deaths on wednesday there were almost 60000. 00 new cases reported 23 percent compared to last week and deaths from the virus have been relatively flat in recent weeks with an average of about a 700 deaths per day now these are the states that i want our viewers to see that had the highest growth in nearly reported that over the last 2 weeks and some of these numbers are really shocking you know utah there were up 88 percent pennsylvania upset any percent. Rhode island up 75 percent and montana there were up 11313 percent up in debts compared to last week now meanwhile new cases are also trending up in 41 states or over the last 2 weeks while no state right now is seeing any kind of sustained declined so obviously all of these numbers are going to reflect back on the economy right make you did another week that hundreds of thousands of americans fall for unemployment all in all right now unemployment is 4 times prepared endemic levels with another 840000 workers for a follow up on employment last week 53000 compared to the previous week now while claims for the pandemic unemployment assistance those are the workers that are selfemployed are up 465000 so together regular unemployment m. P. U. A. Play of stood out 1300000 last week but of course its not just the u. S. Thats facing this crisis tried europe has now reached also reached a Tipping Point and i want to viewers take a look at this chart back and take a look in june and july and almost most of august it appeared that europe really had it was on the right track of the virus and had real control of it now take a look at said temper and october dailly cases are of course going back up and only 2 weeks in october the region has jess registered a highly weekly cases in the beginning of the pandemic with almost 700000 cases reported last week brant the situation in europe has gone to a point where jest in the last 24 hours france has declared a Public Health state of emergency the u. K. Is approaching a 2nd match on lockdown while germany is introducing further restrictions so now months after authorities in europe really. Occur across much of the region then virus is really taking europe by a storm so its no longer a herd immunity or restrictions as were seeing in europe right now all the way to bring an end to this pandemic is a vaccine bryant r t correspondent side tabular thank you for that excellent report. And a quick break but hang here because when we return jobless claims are on the rise again theyve been i think have surged with winter on the doorstep just on the other side will break the break well bring you up to speed on the numbers and the state of the nations economic recovery thats going to break here are the numbers the close. The confirmation process that will most likely see judge breyer become the next to preboard justice is in full swing grabs in their liberal media. Over the proceeding legally there are doubts dont have any merit whatsoever on whether this is the one to play simply said the Supreme Court has been little science maybe forever impacted the poor is really. A dark industry comes to life in los angeles every night. Dozens of women sells their bodies on the streets many of them underage. Police reveal a taste of their daily challenge if youre going to exploit for a child here in los angeles there were going to come out you see officers going undercover as 6 workers and customers to fight the. 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. What is true forces. In the world corrupted you need to descend. To join us in the depths. Of the shallows. Americans love by and. This was a fundamental part of how our Political Leadership and our country a large understood the bargain you get a hope and then you know rebel right as the things you dont revolt if you have a stake in the system. Of the really interesting back and think about the longer deeper history housings men in the United States not just that old question of the American Dream but the bigger question of who the dream is for. Welcome back as we just heard before the break you want employment claims in the United States rose to their highest level since late august last week as the country continues to struggle to control the spread of coal but 19 since the height of 25000000. 00 unemployment claims more than 11000000. 00 have actually regained their position or phone new jobs while the employment rate is just under 8 percent more than double prepared demick levels so lets go ahead and take a look at the state of the u. S. Economy and markets with cohost Christine Christie always a pleasure to have you on how should we interpret these numbers as it looks to be a mixed bag you have a bad number for new claims but a better number for continuing clips. This was kind of like another sign that the labor market is actually struggling as cases rise and worries are increasing over renewed wave as we get into the fall and winter months so right you just mentioned the fact that there is an 8 percent Unemployment Rate which is bad and its double the number of the prepared that i can levels but the thing is thats not the true number the official unemployment number is actually artificially depressed because it actually excludes people who might be earning a few dollars a week or anyone whos already been discouraged by the lack of jobs out there so to be officially counted you actually need to be earning 0 money at all and actively seeking employment at the official benchmarks so if we take all of that into account and instead we measure unemployment as anyone who is looking for full time job that pays a living wage but cant find one then the true Unemployment Rate in the us is actually closer to 26 percent and that is shocking because that is a quarter of the population that want work and cant earn a wage that pays more than 28. 1000. 00 a year so i dont claim its going to be acritical levels for a while here in america and its probably going to get worse before it gets better and christie stocks are actually falling for the 3rd consecutive day although they kind of even doubt at the end of the day as hopes fade for a stimulus package what else has been triggering the sell off that weve seen a wall street over the last 3 days. Well as i mentioned ministers comments yesterday they pretty much shot the stimulus package out the window in the near term which accelerated the overnight sell off the nasdaq suffered a big drop after Goldman Sachs cut its forecast on tech the stock to neutral saying that new policy and economic shifts will likely put an end to the outperformance in the spic suffix sector and so the nasdaq was dropping and we were actually questioning this rotation earlier in the week saying that the tech stock is a high beta sector traditionally a very high beta high risk sector so theres no reason why it should be rallying the way it is so it looks like that rally has quickly ended and now on top of that we have more cases of coronavirus popping up in europe which is now leading to a bigger clampdown france has set up new curfews in paris the u. K. Is now imposing tougher curbs in london to try to contain the virus and all this optimism that we previously had about that vaccine that all died after 2 very high profile prospects experience problems thats been cult its one was by Johnson Johnson which was halted because of the potential vaccine related illness in the participant another one by eli lilly stopped their trial due to safety concerns and astra zeneca they also halted in roland and his trial after part its been reported suffered neurological symptoms so it was great that everyone was so optimistic about a vaccine but now the reality is finally starting to settle and that we are far from having a workable usable safe acting anytime soon kristie i wonder revisit the tick tock story which weve covered so much it looks like to talk about true or which has been around for a while but received a lot of publicity amid the banning of tick tock here in the United States and theyre looking to go public now should think talk actually be concerned. Take down actually has a lot to be concerned about right now because not only is it fighting for its own survival to not be banned in the u. S. But now also has to worry about competitors you have instagram wheels which launched earlier this year which is pretty much exactly the same thing as tech talk and now trailer which is a short video social media app and. Theyre exploring a merger which could take it public so trailor currently only has a fraction of the 100000000 users that tech talk both here in the u. S. But by wrath of the massively raising their war chest and going public trailer could quickly accelerate its marketing and Customer Acquisition and become a very worthy competitor to tech talk so trailer so far has the curate about 100000000. 00 at a 1250000000 dollars valuation and theres currently still deliberately whether its whether or not to proceed with a public fund raising or opt to stay private so all of this has been very difficult for tech talk to handle as its only defense is basically its content and their content creators and also theyre an evasion so while to caucus still leading on the innovation front in terms of better transitions better filters better facts content creators as we found out have are very fickle creatures so content creators they dont really have any sort of platform loyalty the more they can spread their content and the more platforms they can spread their content the more they make and the better off they are so tech talk wont have any exclusive content and most creators probably will be reposing the exact same videos on instagram reels as ticktock as twitter you know kristie what is the latest with the tick tock deal between oracle and walmart and youve been following that so this deal is not yet finalized and must get government approval but right now you have walmart c. E. O. Doug mcmillan saying that the retailer wants to own tech talk because it sees this app as a huge Business Opportunity and a powerful way to reach consumers especially now that we are seeing this massive shift into online spending versus as walmart is a big box retailer so he can take talk a discovery opportunity for customers to find merchandise that they want to buy so walmart has tentatively agreed to a 7. 5 percent stake in the take talks u. S. Operations and would serve as one out of 5 of its Board Members so theyre talking to buy dance right now about making the social commerce making it easier and more appealing for. Something which is already very popular in china but well have to see where that goes it will keep on that story blue bus cohost christiane thank you for breaking it all down for us today thank you. And finally if youre a fan of ninetys era and be a basketball like myself well you may have an opportunity to feel like a part of one of the greatest dynasties in professional sports history 6 Championship Rings from the Michael Jordan led Chicago Bulls teams are on the Auction Block and will be available for a bit until the 22nd of october now the rings from the bulls 9091 in 1903196190 extension 8 championship seasons belong to a long time both Security Guard john capps who was featured in the documentary the last dance now he worked for the team for more than 5 decades before his death in 2018 and with a week left on the block the rings each have been between about 5. 00 and 7000. 00 but sports reports that last time all 6 rings were up for auction but they were valued at 300000. 00 as a set so be like mike you know for that 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 through google play in the Apple App Store by searching portable t. V. Portable t. V. Can also be downloaded on a newer model Samsung Smart t. V. s as well as roku devices or simply check it out portable t. V. Well see you next time. They. Come. We said. Theres not a mole but imo the most companies he knows. His companies he most people and most people even though he goes from didnt you know its risky to c. B. C. Is putting you through a coke. Machine if you had a kind of these. Look it is. Always stay. In the hotel your list to. Look forward to talking to you all. That technology should work for people. Must obey the orders given by human beings except where such conflict with the 1st law. Should be very careful about official intelligence and the point is to create trust. On the areas not seen with Artificial Intelligence will summon the demon. Must protect its own existence. I think one because i was. Looking. To leave here we hope to be but this year some friends of the us are still stuck at the still feel hoping to do something this year. So yeah. They have about the house and the sample ballot bowl and im a simple ill put them on them that you know what happened. With infection rates racing up all those said during the spring pinks new curfews and restrictions are imposed there proles youre. Coming off the program as the race for the white house edge is towards the finish line republicans are crying foul for twitter on facebook and expose article on democrat hopeful joe biden and his son. Went by. They take negative post down almost before they even go up to trying to protect him theyre trying to project by this is election interference in the attempt to rig an election which is what were seeing here by