Transcripts For RT Boom Bust 20240712

Common ground. You know weve broken a lot of stories over the years the hoax that is the fracking industry we broke the global strikes against banker occupation and a bunch of other ones that we were in the lead covered it nobody else did i think now weve got a tiger by the tail here i think were in the midst now of handing up the torch from the u. S. To china the push to this trap is upon us. It just gets more and more evidence coming in. This is boom bust the one business show you cant afford to miss for in washington coming up. Hes the greatest crisis of own age. As the globe is seeing a surge in coping 1000 cases u. N. Officials are calling for world solidarity to fight the pandemic straight ahead we break down the state of the virus and how markets are reacting to renewed fears plus amid the potential damage europe is facing gridlock at the United Kingdom and European Union are hashing out the details of a post directed trade agreement we have a pack show today so lets dive right in. And we lead the program in the United States as the country is seeing a record surge in cases of coke at 19 on friday the u. S. Reported more than 85000. 00 new cases eclipsing the single day record by roughly 10000 now the 7 day average for new cases is also the highest on record averaging just under 69000 per day over the last week and as we continue to see a guy. Lobel spike in cases u. N. Secretary general antonio good terrorists spoke about the crisis and its Economic Impact during an online session of the World Health Summit on sunday 1000. 00 pandemic is the greatest prize of all rage just 7 months since he was the clarence over 1000000 people have died and tens of millions have been infected cases are still rising and you spikes and waves that occurring in places that had suppressed the virus for many months the in direct impact of the pandemic is wreaking havoc on societies and economies vaccines threaten tend to be more than life savers they are economy savers and society savers there is no choice between saving peoples lives and saving jobs protecting people from the vitals is the best way to keep schools open and businesses running and amid this latest wave some european nations are looking good imposing new restrictions to slow the infection rate so with this in mind lets take another look at the trends and spread of the virus globally with r. T. Correspondent side savages where are we monday so brand the number of people diagnosed with covert 1000 is growing every single day across much of the world so globally were almost at 45000000. 00 current firm cases while deaths stand at 1160000. 00 and growing now the u. S. Has more tases and deaths than any other country and right now with more than 8900000 confirmed cases while over 230000 deaths now even with these numbers now theyre all still likely far lower than the actual number of cases thats being reported now breaking down the actual numbers just for the u. S. Now overall case numbers in the country have reached frightening new records across recent days branches like you mentioned just on sunday at least 339 new deaths and almost 6060000 from. Cases now new cases are up 32 percent while deaths are at 12 percent now this is all compared to last week so this is where and then this next map is where the new cases are actually getting higher now some of the worst go through seeing right now is in Rural Counties and small measure areas but infections are also reach record levels in more than 20 states including illinois tennessee new mexico nebraska and you john of course to increasing cases is also leading to more hospitalisation thats going to all timidly lead to more deaths now while we head into a very dangerous winter theres also a new study by the university of Washington School of medicine that indicates the u. S. Could see more than 500000 so half a 1000000 total deaths by the end of february and thats if states continue to ease pandemic restrictions which of course most if not all states already have now looking globally i also want to break down for our viewers the top 10 countries with the most reported new deaths in the last 24 hours because thats really important to see how countries are doing in terms of reporting their new death now the u. S. Down the list but india might actually save to the end youll see by but the 2nd one is of course the u. S. Which you already talked about they reported 339. 00 new deaths on sunday and another 103. 00 so far which i discussed earlier of were definitely going out of control right now now looking latin america there were already dealing with a 2nd wave now while brazil there or theyre ranked 3rd worldwide in the number of cases and have already surpassed 1000000 infections back in june that colombia and argentina they have also now surpassed 1000000 cases and theyre registering hundreds of new deaths per day now meanwhile. Well mexico they havent even reached a 1000000 and a confirmed case cases yet theyre experiencing the highest death rate in all of latin america all consequences of a very weak Public Health system and social factors like poverty and poor government decision early on thats resulted in very little Contact Tracing now taking a look at europe u. K. Italy theyve both reported the highest new deaths from any other country in the region so italy they have just impose a month long restriction across much of the country to find new rising infections that shut down gym pools and movie theaters putting an early curfew on restaurants the u. K. Has done the same theyre putting partial lockdown on areas where clusters of new cases are being reported now i want to talk about the middle east now iran right now is the hardest hit country and not just with cases but also with total deaths and now theyre reporting a death every 4 minutes so think about it from the time i started the report from the time im going to walk away one more person has died in iran now iran is blaming the u. S. For their sanctions pervert from preventing them to tackle the outbreak properly meanwhile washington is accusing iran of incompetence governance Good Governance and now lastly i left india for the last because even though there reached about 8000000 cases and more than 820000 deaths india is still a 6 of the worlds population think about it and yet that will only account for 10 per cent of the worlds deaths because their case fatality rate actually is less than 2 percent among the lowest in the world so although they show up in the list as number one in terms of new death its actually very low compared to their population again being contributed to the very low death rate and so the race for coping 1000. 00 vaccines obviously make. Many governments step up in order to help the process along by and theyre providing billions of dollars in fines to companies the scale of manufacturing even before the drugs have been approved by the difficulty right now brand is that many countries theyre looking forward to a vaccine which may or may not come which may or may not be effective in the short term all long term so the outcome of all the trials is being closely monitor round the world and well bring the latest to our viewers as we get that information brant our 2 correspondents saya tavenner thank you for keeping us up to date. And with the latest surge in cases and a lack of a covert 1000 stimulus package here in the u. S. Equities have fallen sharply on monday so lets dig into whats happening with markets and the economy with boom bust cohost christine. Baranski c. E. O. Of optimise l. L. C. Thank you both for your time today i want to start with you here because u. S. Equities they have deep in their losses as european nations move to tighten up their lockdown levels aside just mentioned to combat the resurgence of copan 1000 cases worldwide are we back to where we started in march or will we lose this entire recovery rally as we break through these Technical Support levels. Well i think already depends on how governments are actually going to see the sabean lockdowns come back but we saw it in march and april and i think the indication if you look at nepean side is that governments are being somewhat circumspect about doing that to get some resistance from the population to see demonstrations and. And he looks so things are getting a bit uneasy at the part of the populace has a bit of the fatigue you are 19 was also mentioned is that the number of cases in italy german cars on through the move at this stage much much higher than they were during the height crisis in march and april and yet the death rates and the lag quite considerably so that might be something worth examining thinking about so as a result the governments put into into place some sort of action but its almost impossible homoeopathy you know france a few between 9 pm and 6 am as if the virus only propagates between those seems a bit pointless to do this that so that they simply sort of symbolic acts on the nothing else so i think the government going to be much more reluctant about pushing hard lockdowns and the population doesnt like him or d these governments and running out of cash to furious rate d they can you afford to go into lockdown again so theyre going to wait for things right i cant go i sniff it. Every thought every word you see markets going at this point are we at the top and are we going to lose some of this or do you see it moving forward continuing to gain. Well i think the markets become some are divorced from reality so if you look at the the speed of the Market Recovery that weve seen in the code at 19 its remarkable its also quicken stronger than anything else in a last 100 years or so and you know the stages of this crash weve basically looked like were tracking 1989 but as soon as the fed stepped in and they really threw in everything except the kitchen sink bounced back very hot so that is really whats driving markets going to see if the fed not decides. Woodgrain by his look doesnt need more. Stimulus moccasin was from positively to that and i think the balance of the list is the same is going to do that theyre going to step in again even more aggressively to keep the markets where they are markets divorced from reality for sure now kristie as the market is plunging monday another problem is actually emerging in the bond market as the default cycle is beginning to hit whats happening there. So its a really scary thing as bloomberg colors that right now on hold and start fighting over recoveries as low as one percent so thats insane and shouldnt be a surprise and weve been discussing this actually constantly in recent months that bankrupting us filings are surging so instead of recouping about 0. 40 on the dollar which was the more important unsecured lenders now face the prospect of walking away with just pennies if that so recently we saw mens wearhouse which filed in august trying for less than 0. 02 on the dollar then when j. C. Penney went bust the lowest price that was worth just 0. 12 Neiman Marcus was at 0. 03 on the dollar so these are all record low recoveries for bondholders with the median being 3. 05 so this is way way way below the median for the last decade which was that 20. 04 so while this shouldnt be a total surprise many creditors they were caught off guard again this is another reminder of the long lasting repercussions of the feds easy money policies weve had over low rates which helped Risky Companies sell risky bonds and creditors they were more than happy to accept and encourage this behavior given the higher yields in order to earn a return in the market so literally for the last decade companies have just accumulated astronomical levels of debt after are in cheap money and then topping up with even more to get this and nothing but now these very same companies that are graduating a wall where there is more downside and more room to fall from here as valuations collapse and get depressed so this could lead to a very nasty fall cycle and no octavio obviously as we just talked about markets despite you know what were seeing monday and markets than as they can still perform remarkably well as tech stocks have really rather rallied during the pandemic obviously because of need but poll this poll show that democrats are moving further in favor when it comes to the election thats just over a week away are there concerns of a change of political power putting greater pressure on tech giants when it comes to regulation theres a lot of lawsuits out there that were that weve been talking about in recent weeks and how is that going to affect the overall market as these tech giants are basically the only Things Holding the market up right now. The premise of the question the democrats are more likely to come with and trust cases against Big Tech Companies moves in the Republican Administration come out of the began to trust case against google which is much much bigger than anything we saw on of the Obama Administration so if you go barack Obama Administration the b 2 antitrust case is always one against apple but against often a very specific. Case facebook now they are pricey ebooks so them are a narrow defined case. And there was another case against American Express the guy the. Clown and the bases of her other credit cards so those of sanity limited in scope will seem a Republican Administration come out with is much much broader in scope because the question is will the democrats continue that i think theyll most or do not and this i think might well hamstring someone everything any innovation any. Is going to have to go through compliance approvals through the Legal Department and the whole nature of the Companies Like exchange and that something will soon take giants and. Once they get too big an exam to trust that they just get down on the they become. And they lose that last 2 groups im afraid Something Like that. In the coming year or so as they grind through this also its definitely interesting to see because it when we see so many aquas it is issues in tack how that might affect things now kristie i want to head on one more point here before we go and group is poised to raise 34500000000. 00 in the biggest i. P. O. Of all time as it set the price for its shares on monday whats the latest there. So this is really exciting and interesting to be able to deliver an i. Q. Like this and you know when investor appetite and risk tolerance has been basically shot by this never ending cycle of bad news so this ikea will cement and group as one of the most Viable Companies in the fent tech sector as it will even surpass saudi aramco 29000000000 last year so this is going to be a dual listing split equally across the shanghai and hong kong change issue and 1670000000. 00 new shares and each location priced at 16 a point they r. And b. So acquired it wimmer Institutional Investors subscribe or over 76000000000. 00 shares which is about 284. 00 times the i. P. O. Offer and try so with that level or subscription and could very well exercise or over Allotment Option so this basically shows that the op tight for the offering is very clear even in the midst of all the uncertainty plain economy in the geopolitical landscape so Global Investors they have basically largely shrugged off the concerns over the growing regulatory scrutiny and the potential for the u. S. State department to add and group to trade blacklist instead they are now betting on the continued rapid growth of and as a leader in disappearance and mobile Financial Products so old and investors there charting had false with a landmark offering just days ahead of the u. S. Election so shares are likely to start trading only after the us vote on the member 3rd which could spark tremendous market volatility if the mode is either disputed or delayed. Because christiane in october c. E. O. Of optimists l. L. C. Thank you both break it all down for us. Thank you there. Are time now for a quick break but here because when we return the fate of brechts the details hang in the balance of the e. U. In the u. K. Are continuing talks regarding the continental divorce just on the other side of the pause we bring you up to speed on the state of negotiations as we go to break here the numbers that the. World is driven by shaped by. The day or thinks. We dare to ask. An entire village in alaska. If another country threaten the wife of an american. We do everything i. Wanted to escaping Climate Change is the same threat right now alaska does seem some of the fuss just coastal erosion in the world we lost about 30 feet. 35 feet of ground in just about 3 months while we were measuring. Is fast enough he says the river is 35. 00 closer to the town that was. I think were part of a 1st for him. Welcome back after years of the boeing airbus dispute between the united the European Union and the United States u. S. Officials told the World Trade Organization they regret the move to pursue retallack tarried tariffs according to reuters the u. S. Favored a negotiated resolution the news came at mondays meeting where the deputy who gave formal clearance for the e. U. To place or tell a story tariffs on 4000000000. 00 worth of u. S. Goods the u. S. Delegation said the United States strongly favors a negotiated resolution of its dispute with the e. U. Over the massive launch aid subsidies it provided to airbus adding the United States has recently provided proposals for a reasonable settlement that would provide a level Playing Field now the u. S. Has already imposed 7500000000. 00 in duties on the e. U. Last year the e. U. Tariffs arent expected to take shape until after the president ial election next week. And talks between the United Kingdom and European Union on a post trade deal will continue after that use chief negotiator decided to stay in london until wednesday of this week show barn yes has been in london since thursday of last week as the 2 sides resumed stalled talks but was expected to return to brussels sunday as negotiations were set to move to the belgian capital the 2 sides have previously said they needed a deal by mid october if it were to be implemented before the end of the brics a transition period at the end of this year as we have talked about in the past the main points of contention remain fishing rights and the level Playing Field rules so for more on this lets go ahead and bring in the report which board member with the British American Business Association to break it all down hillary thank you so much for joining us i want to start with the importance of the e. U. s chief negotiator staying in london to continue talks Northern Ireland secretary of state bremen lewis said it was a very good sign that talks are continuing does this put us any closer to a post trade deal or pleasure to be here thank you brant and i would say you are absolutely right that all the secretary brennan who is did say that and he thinks its going to move things much closer i think everybody does you know Boris Johnson had shut down negotiations when they would not the e. U. Was not budging on fishing rights nor the fair Playing Field so right now it looks good this is whats very important is that angle of muchel ive mentioned has mentioned before has been pressured now by all those german manufacturers because 93 percent of all goods that the u. K. Purchases from the e. U. Can be sourced elsewhere so theres an 80000000000. 00 trade deficit with the e. U. Meaning the e. U. Sells more into the u. K. So its the e. U. That has much more to lose than the u. K. Dollars and yes it is a very good sign because obviously michelle body and knows that he has to come to some sort of agreement so staying on is his way of trying to get something done for. Before halloween now Prime Minister Boris Johnson as hes previewed said that if there is no agreement it means that the 2 will default to basically w t o rules while business is as you just mentioned for both the e. U. And you care theyre getting a little concerned over the prospect of no deal and what that might mean does either side benefit from a no deal well actually i would i would quote on that note of roosevelt who said there are things we have to fear is fear itself i think theres general fear of the on no theres always fear of the unknown i think the issue is that a no deal breck said theres a lot more up in the air however. With the direct question was about which side would benefit the u. K. Definitely benefits from a no deal and thats what i said all the way along the u. K. Holds all the cards why because the u. K. Has the ability to make trade deals as has recently occurred with many other nations across the world whereas the e. U. Is locked into those agreements that they already have so the u. K. Will benefit tremendously because w t o regulations will impose a 10 percent tariff on all goods sold or bought thats way lower than whats currently happening on occurring now with the e. U. Now former u. K. Ambassador to the e. U. Ivan rogers told the observer that many senior sources put those in quote senior sources theyre telling him they believe johnson was waiting for the results of the u. S. Election before deciding on a no deal brecks it johnson responded by saying quote the 2 things are entirely separate do you see the president ial election in the states actually playing any role in these negotiations when its not for me to say what Boris Johnsons timing is but i would say this ive known facts are as follows President Biden is very proud of his irish ancestry and he obviously was the Vice President to president obama who resented very much the comments that were made about you know his kenyan background he had a lot of resentment about in quotes the British Empire and the ills of the British Empire and he was no fan of the u. K. He actually made the statement that the u. K. Would be in quote at the back of the line should bricks. Go through and they break away ultimately from the e. U. So i would say that biden and his potential president ial Biden Administration would not be as lets say not friendly i dont think the special relationship we always enjoy but i dont think that they would be as supportive whereas trump is known as coming to power about the same time obviously as the vote in 2016 both occurred that year the vote was in the summer and then of course in the november u. S. Election so President Trumps view views the progressive brecks sort of vote in line with his movement and so yes bracks and trump are more aligned than a potential President Biden and its interesting because then President Trump i think while he was on the campaign trail one point tweeted call me mr brooks that nobody really understood what that meant but we we could take it for what you thought nobody lots of us in the in did but it made many many may not and. You kind of alluded to this just a few minutes ago the u. K. Actually signed a bilateral free trade deal on friday the 1st such postbreakfast deal for the country whats the significance of this deal and whats it doing for both sides well actually i must add that there be many huge trade agreements but havent retained attain much publicity for example in february of 2019 there was a 32000000000. 00 trade deal signed with switzerland and that actually had has 15000 british exporters are very happy with that huge trade deal with switzerland also on recently october 16th there was a trade deal with the ivory coast agreements are in place with west Africa South Africa the Faroe Islands and also a mutual ality of a group of mutual agreement of mutuality of interest with both new zealand and australia but yes youre right this is a huge deal with japan interestingly quoted as the land of the rising some sort of rising as one of the major trade agreements and its purported to be an expected to be about 15000000000. 00 over the next 15 years so it is a very significant trade deal what this signifies brand is obviously a. Exactly what the u. K. Wants what the u. K. Wants is to be a sovereign nation that can make trade deals across the world to the u. K. s benefit not to the benefit of the e. U. Right again lets round this whole conversation into one point the e. U. Is desperate now bats why bonnie are staying in london because he sees and the e. U. And the brussels bureaucrats see these agreements being right around the rest of the while they know the u. K. Is going to flourish. It will reform which of the British American Business Association thank you so much for your time your breath away. For this time on boom bust well see you next time. You know weve broken a lot of stories over the years the hoax that is the fracking industry we broke the globalist record against banker occupation and. A bunch of other ones that we were in the lead covered it nobody else i think now weve got a tiger by the tail here i think were in the midst now heading of the torch from the us to china the pursuit of this trap is upon us. It just gets more and more evidence coming in. In the 1920 s. And thirtys several 100 africanamericans moved to the soviet union and many of the descendants still live in russia. Because you know no one. Needs to calm things. Back home like american suffered from racism and a complete lack of prospects. Of the real. One by else. So they decided to leave everything behind and start a new life in the country about which they knew almost nothing at all some of the. Crews are looking through during the night. Found great crowds. Lulay of golf you know prone to call me and now almost a 100 years later history is repeating itself my great grandfather george time went to russia. On probably the worst time to go anywhere why not me. When i come here. The latest pandemic measures in europe aggravating divisions italians are among the most fed up flouting a new nighttime curfew venting their fury on the streets. Full nudity she said shed been under as you can see italy is rebelling this government has decided to suppress the italian people shes the star of the suggestion that it. Pubs and bars in parts of the u. K. Worst hit by code now required to serve meals with drinks to avoid collision locals cast doubts on whether the measure will save lives. I dont see how someone just enough to be in the mail and having a drink at the train protests have been entering and sat down why should they opt for a meal on this