Transcripts For RT Boom Bust 20240711

Appears to be soaring across the midwest and the plain states in fact new reports show that 7 states have now set records for hospitalizations for covert 19 the states of connecticut maine michigan minnesota nebraska and north dakota jumps of more than 45 percent in their 7 day rolling average new data also shows us that the data that 1907 deaths by the way were recorded wednesday its lower than the 1134 deaths reported the previous day in total the corona virus has killed 233734. 00 people in the united states. Meanwhile pharmaceutical giant astra zeneca says that its late stage trials for its potential Coronavirus Vaccine is on track to produce results later this year obviously this claim is based on a whole lot of ifs if Regulatory Approval happens and if the results of Community Infection rates around the world which includes 23000. 00 volunteers now enrolled in Clinical Trials goes well the facts. A z d 1222 right now appears to be the front runner in the global race for the covert vaccine according to a new statement by executives on thursday astra zeneca is not able to say how much of a shelf life this shop will have because it is so new they do say that they expected to be ready to supply to the u. K. And other countries on mutually planned timelines the companys c. E. O. Says that astra zeneca is poised to fill vials rapidly once Regulatory Approval is clearly in sight and its confident that it can supply hundreds of millions of doses by january of 2021. Well turning to the markets now and the major indices continue to rise on wall street take a look this is the biggest weekly rally since april and for crypto big coin is breaking 15000 well say it again 15000 so to break this down we turn to the us show host kristie i am chris over mulan founder and chief Market Strategist of the technical traders dot com guys glad that youre here chris i got to start with you because before the election all the analysts were saying that if we had a prolonged election if we didnt get a result on the 3rd the market was going to plummet under all the uncertainty that wall street didnt know what to do with the volatility instead its going the exact other way to huge days of rallies what gives. Yeah well the market likes to do what the masses are not expecting and of course this big rally is pretty exciting its good to see but i think its really on the back there were seeing you know that the democrats arent likely to get control of the senate if biden wins year and of course that gives us a little bit of certainty of whats going on whos likely to win with the election Going Forward and really you know if if you get a mixed house then its going to be tough for bite into put through some risk or some some strong regulations for higher taxes and things like that so were definitely seeing people finally mind at ease a they i think they see where this is going and even if he gets in its going to be relatively controlled because the house is going to be very mixed here yeah the question about that christi good to have you here wish you were over here where i am right now but we got a big coin come on because i know youre salivating right now pretty excited about whats going on over a 15 k. Are we going to go above 20 k. By the end of this year do you think its going to actually happened. I think i read it well can happen because this big run has begun i mean this is so reminiscent of the 20 sets running where we basically went parabolic so the timing is so uncanny as we recently hit the 100th day that point managed to stay above 10000 like right on election day which we mentioned and now weve been gaining about a 1000 a day ever said where hit 153 today almost 9 percent higher so if you look at it from year to date has more than doubled is undoubtedly the best performing asset of 2020 and this rise now comes on the back of this im president that stimulus from global governments and Central Banks during the coronavirus pandemic which has made all the more attractive than the currency like the dollar so they coined very creation of words due to fears that the increased fiscal stimulus is devaluing currency globally and as a result when Central Banks and all these plans to pump more money into the economy investors took this as a sign to pile into the only real asset that has a net supply which is that quiet and so now the results of the u. S. Elections are gradually becoming clear and 8 thats going stimulus package could see a further weakening of the u. S. Dollar which would drive a big point in even more so this is the result of the q. E. Trade which has kicked up this massive bit in all the risk assets you see that in the all the high beta names the technicians s. And p. So big question goal are both high but they quite especially its going to be where the story is that because we havent talked about the havening in a really long time and we should see this post having cycle coming into effect now since it always does take place about 6 to 8 months after the have kristie real quick ive had my bare head buried in election stuff and have not had time to even check this whats happening with all coins i mean of bitcoin last time this happened because it took off and all the old point shut up too was that happening right now or is big making a stand alone run. All coins are actually falling back and the cycle back when its standing at a little over 65 percent dominance at the moment defies cycle has defied a bubble has burst slightly because people have rotated a lot out of the finance and rotated into one because that seems to me well they gain us but yes all the all coins are now gaining 56 percent long with right now our christmas talk about some of what the markets are doing because in terms of indicators right typically the markets will tell you the favorite to win out of this just for instance by being wins it looks like its good for green energy names bad for oil thats what he says trump wins it would be better you would think for a large conglomerates in the s. And p. Companies what is the market saying about the outcome of the election or does the market even care at this point is that all the same for them. Well i think i think the market cares but i think the stock market in general just wants to go higher people finally feel that uncertainty and they know stimulus is coming so everybodys kind of in that frothy they just want to own stocks but the the market before the election and now where we are right today. Its been priced in for a bite into when weve seen solar sector rally over 270 percent since the march lows in clean energy e. T. F. Which carries a basket of all kinds of Clean Energy Companies also up over 200 percent and whats interesting is now that it looks like buy it in may take it take the wind here were seeing the oil services actually take off and theyve been underperforming the crude oil sector has been very beat up and oil services right now are actually posting one of the strongest gains over the last 1015 training sessions up about 18 percent and it looks like its put in a bottoming formation and i think a lot of this has to do with if its a mixed house biden is going to have troubles turning down the fracking and oil services are going to be able to keep on doing that and so were seeing that sector really have a big relief pop here and i think it could be a pretty big mover for a few weeks Going Forward you know it seems like the idea of the senate does not go to democrats it stays in republican control loop which looks pretty certain at this point if that is the case it really kind of neutralizes in a big fears that were here kristie in terms of you mentioned about you know the fiscal stimulus programs and the printing of money the endless printing of money by the fed but it really comes down to this it doesnt really matter if biden becomes president or trump becomes president on that front or remains president i should say on that front because at the end of the day theyre both going to continue to print right that doesnt change the outcome so when we talk about all coins when we talk about bitcoin it keeps going up regardless of who is in the white house. Exactly and that this is whats so great about this one because as i mentioned it literally is the only real asset so thats why the crypto currency market it really isnt paying any attention to who is going to win of the elections more so the fed in the background they have theyre the ones who have are continuously printing money they are indicating that there is going to be no rate heights expected in this regime and recently and leaks theyve also hinted at the idea of actually increasing the aggregate pace of purchases in the open markets which is currently out of pits of about 120000000000. 00 per month if you know that were targeting longer Data Security so the fact that they are continuing open market operation the fact that the who we trade is on full blast all of that is very bullish for big quite and also the fact that all of the institutional Public Companies are also jumping in such as pay pal Square Michaels micro strategies and all that all of that is just giving more conviction to the entire bequest trade that this is something that the economies are actually going to shift towards Digital Currencies perhaps some c. D. C. s in the future but all of that is going to be a broom to bitcoin all right Christiane Chris from mulan founder and chief Market Strategist for technical traders dot com guys thanks so much for the conversation a good one today. Well we have 5 states 5 states that remain outstanding when were talking about the u. S. President ial election 4 of them really matter one of them no offense alaska not so much but lets talk about where we are right now because a lot of you are very interested in this lets start with nevada right now in nevada has 6 electoral votes by a. P. Projections in that state alone is enough to give joe biden the former Vice President the 270 votes he needs to secure the white house currently heres where we stand biden has a lead of about 12000 votes he leads 49. 5 percent to 48. 5 percent in the fatted thats with only 76 percent reporting we should mention that the Trauma Campaign they have filed a lawsuit in nevada challenging some of the results there they claim they have proof that at least 10000. 00 ballots were filed by people who do not live in the state they also brought a woman forward this morning who says that she and her roommate went to vote they were told they had already voted because in nevada mail in ballots were sent out to everyone in the state where they requested them or not clark county where las vegas is located they say the bulk of mail ballots will be processed over saturday and sunday theyre also telling us that 51000 ballots will be reported tomorrow morning at 10 am local time we will not get any more results for nevada today down in georgia we were told that georgia would be done last night its not done georgia though as a razor thin vote margin right now President Trump currently leads by 3 tenths of one percentage point 49. 5 percent to 49. 2 percent that translates into about 14000 votes as i said it is razor thin the Trump Campaign filed a lawsuit in georgia last night calling to stop on the counting the counting the ballots claiming irregularities were going talk about that in just a minute but georgia now has 99 percent of all ballots counted up in North Carolina its a different story there this is still not and it remains at 94 percent of the ballots counted their president does have his largest lead 50 percent to 48 percent. With a lead of about 80000 votes there and then we go up north to pennsylvania well this is where the most legal action is taken place today the Trump Campaign actually received a court order that republican monitors would be allowed into polling sites which they say they have been denied access to to monitor the counting in philadelphia they have to remain at least 6 feet away there is a difference here of 115000 votes president trouble its 50. 3 percent to 48. 5 percent but its only with 88 percent of the vote counted theres a lot of votes still to come in and we are getting word late today that apparently pennsylvania will release some numbers by tonight they are now saying they may be able to call the election for the state of pennsylvania by this evening we are watching very carefully what happens there are another 29000 mail in ballots that were sent into the area of pittsburgh but a judge has ruled that those ballots cannot be counted until friday they may not matter depending on what is released again later tonight were watching that very carefully and lastly alaska still outstanding somehow only 50 percent of the ballots in the state of alaska how many could there be have been counted President Trump retains a huge lead with over 60 percent of the vote its only 3 electoral votes its not going to make a big difference here but it is very strange they cannot be wrapped up for more legal battles lets bring in our discourse one of Rachel Blevins rachel whats the latest here because were talking about really historic in terms of an unprecedented number of multiple lawsuits Going Forward at the same time in different states thats right youre seeing a very different rhetoric from these 2 candidates on one hand you have joe biden kind of sitting back trying to take more of a president ial tone here telling americans that their votes will be counted every vote will be counted no matter how long it takes but also saying hes confident that hes going to win on the other hand you have donald trump also saying hes confident that hes going to win but taking a very different approach here where hes saying that hes going to go forward with more and more lawsuits and he could be taking this battle all the way to the Supreme Court now of course you have. Candidates being very vocal on twitter thats how they talk to the American People but trump is the one of the 2 who finds himself the subject of this new twitter censorship tool that were seeing being used and even earlier he tweeted out that any vote that was received after election day would not be counted now that tweet has been covered up with a warning no one can like it share it or even respond to it and twitter says that theyre doing this because they want to go after misleading information about the election but of course we have to remember theyre using this tool against a sitting president at a time when were talking about a historical election that still is incredibly close and what the president is saying there is wrong right its flat out wrong because the president does not make the rules each state makes its own rules having said that to your point youre literally since youre in the president saying you cant share what hes saying so because were not really Fact Checking members they dont provide in the analysis as to why its untrue they just declare it untrue lets talk about the legal challenges from the trump site in georgia it looks like it was thrown out is that right yeah exactly in georgia in michigan that you were those lawsuits were thrown out and i want to go into the details just a little bit more here we have lawsuits follow then 4 states so far so we have pennsylvania where theyre accusing Election Officials of hiding the ballot counting from republican poll watchers we have nevada where they are claiming various forms of voter fraud including thousands of votes that were cast by individuals who are no longer alive at all or who simply dont live in the state anymore then you have georgia like we mentioned claiming that absentee ballots were added after the deadline and michigan calling for the counting to come to a halt now in georgia they said that they were throwing that lawsuit out because they couldnt find evidence that there were absentee ballots added after the deadline and in michigan the trauma team was calling for it to come to a halt and they said that the vote counting was already done so there wasnt any use in going after a lawsuit there so i guess the real question becomes the likelihood of any of this working and part of the reason for that is because theres no you correct me if im wrong but nash. All cohesive legal strategy here right its a piecemeal in one state youre claiming one thing in another state youre claiming another thing and at the end of the day how likely is it that any of these challenges get anywhere i mean its not like the president despite what some people may think out there could walk into the Supreme Court and say you guys decide on these issues it doesnt work that way and a lot of that still remains to be seen you know we talk about unprecedented voting im president of the legal challenges in an election and all of this coming together and this isnt likely to be the end of it you know we see these lawsuits from trump right now we could also see the lawsuits from joe biden weve seen trump you know going after fundraisers saying that he wants more and more funds and were also saying joe biden do the same in fact hes coming together with the biden fight funder calling for americans to come together to raise money for him for whenever he goes after Traffic Court so its likely it wont be the end of it any time soon do you think came up with the name to be a fund you know im wondering did they actually know that that was what it stood for and they accidently know that if they get there and then realized oh wait a 2nd its the dumbest name that i think theyve got to come up with but i guess you remember it is catchy in that respect or to course want to thank so much i think we should. All time now for a quick break but hang with us because when we come back were going to talk to the former fed insider and then youll be more to know both about the Federal Reserves decision to kind of lay low while the president ial election remains undecided as well as the chances for a new stimulus before the end of the year is there a shot at all and as we go to break heres some very good numbers at the polls. I. I. I. I. I. Well the pandemic no certainly no borders im just blind to nationalities. As much time with the we dont look like seeing the whole world needs to be. Judged as commentary crisis with this system to. Say we can do better we should be. Everyone is contributing its your own way but we also know that this crisis will not go on forever the challenges crayfish the response has been masked so many good people are helping us. It makes us feel very proud that were in it together. All the while the way up even down with the white house. So well on how i dont think its the fault of okolona the. Top back up who are wonderful. Oh my. Darling 6 6 2. Join me every thursday on the alec simon show and ill be speaking to guest of the world of politics sports business im show business ill see you then. The u. S. Has a history of complicated and heated president ial election so whats different this time is that the biggest political events of the last 4 years is happening amid the coronavirus been damaged and the rest of them to the level of civil unrest sparked by the death of george floyd and the lives of the radical groups on both sides of the political spectrum. Right there with city ordinance. That. These groups attract barely a week members who have taken to the streets making protests look like full scale what you hear was only a ok whats about to happen this demonstrators are sometimes heavily armed and they are not afraid of violence or law enforcement. If you will of war let it begin with us. Or go into you meet these groups and their leaders to find out how far theyre ready to go to fight for what they believe the stupid for this country. Will for the very 1st time in a very long time the u. S. Federal reserve is not expected to say anything at the end of its 2 day meeting thursday the reason for that obviously a u. S. President ial election that remains not only up in the air but its now facing multiple legal challenges regardless of who is president moving forward it is clear that the fed will continue to push forward asking for more stimulus for the economy joining us now as a fighter daniel de mortagne a booth that you know good to have you here clearly drawn paul is trying to keep a low profile during this hotly contested election it seems like that was certainly the case why is that. Thats wise on powells part of the Federal Reserve was designed in 1013 to be an independent and a Political Agency so it is actually his duty to try and stay away from this but it is interesting though that in his comments he did bring up the fact that there was a need for fiscal stimulus hes conceding to the fact that the fed not able to deliver on its 2nd mandate of maximizing employment and point an excuse me and that it needs the assistance of the fiscal authorities to push through the much needed aid to the 20000000 plus americans who continue to collect some form of Unemployment Insurance millions of whom are in special programs that were created as part of the cares act which expire on december 31st is there a president ial candidate who is more likely so right now it looks like things are kind of leaning towards a President Biden thats the way it looks like its going to go it may not but either way regardless of who is president it seems like the general policy would be more stimulus and to keep moving forward with the way the fed has been moving forward is there any indication that regardless of which way it goes that that would change. Well i think that i think that for for the sake of humanity if you will i hate to use a word that so big but i think that there is going to have to be stimulus passed as part of the continuing resolution to keep the government open and of Course Congress has to reach a deal by december the 11th for that i could see easily mcconnell skinny 500000000000. 00 half a trillion dollar stimulus extending those cares act Unemployment Benefits that i just mentioned extending the rental moratorium a vixen. Rental Eviction Moratorium excuse me doing things to address immediately the immediate needs of the virus but again be very skinny in nature and even especially if there is a bite in presidency i would anticipate that mcconnell will try and stand his ground member these 2 have worked together for generations these 2 individuals biden and mcconnell but i would still suggest that as long as the senate stays in the hands of the republicans that mcconnell is going to be intent to show that he is going to be fiscally conservative especially with that 1st round of stimulus given all of the anticipation that there is going to be this blue wave and trillions upon trillions of dollars of spending on all kinds of stimulus measures if the senate had been if this if the control of the senate had been lost to them to the democrats yeah it seems like certainly mitch mcconnell. Couldnt he wouldnt get anything done with nancy pelosi at least 2 figureheads right palosi and mcconnell couldnt Work Together before the election to get stimulus done if the in the with the President Biden i dont see why mcconnell would necessarily value the idea of cooperating with them he wasnt even really cooperating with President Trump on it so having said that it seems like theres going to be a rebirth of fiscal conservatism in the senate and the suddenly despite the fact they didnt really care about it under drum conservatives and republicans in the senate are now suddenly going to care about spending how is that going to put a damper do you think moving forward not just in the next 6 months but over the next couple of years. You bring up a very good point and you know right now if there is to be aggressive i mean multitrillion dollar aggressive Infrastructure Spending bills that create jobs across america that would be something that would be extremely beneficial to both republicans and democrats and not just be the giveaways if you will that the republicans are trying to resist as much as they are so in that sense i would hate to see the republicans cut off their nose to spite their face because if they just trickle out stimulus by dribs and drabs and the coronavirus does amplify and get worse going into the winter months as we think it will then theyre going to end up shooting themselves in the foot because the stimulus measures wont be enough to create economic velocity escape velocity for the economy and then midterms are going to creep up on them when they have really reduced their margin of control in the in the senate according to how the campaigns are playing out to a very slim margin at this point very quickly lastly here you mentioned that there has to be something done in terms of funding the government by december early december the president regardless of what happens over the next couple of days is still president in december do republicans work to get something passed while hes still in office to give him one final kind of win for the American People. Well im not so sure that there is necessarily going to be a focus on a winner or a not win for term because of the magnitude of the measures that need to be passed in to keep that the government open i would not be surprised to see a 2 thirds majority that would override a veto if need be again were talking about keeping the u. S. Government open for business. The former fed insider danielle de martino booth thanks so much for your time thank you. For that as a reporter for today now keep in mind there is a lot happening with the election so keep it very close to our to america and to boom bust you can watch it on demand on the portable t. V. App available for apple and Android Devices or simply check it out at portable t. V. Dot com see next time. If you can save someones life if you have a small and direct save on the painting that you can then say you know thousands of other lives well my response is that the way we should think about that is just is that just as theres a child in a store experiment full of you in this burning building you can say well also just thousands of children around the world take millions of children around the world you could potentially state it with its light weight in the situation of being facing a burning building just all the time. Some control for a middle. Of the night most of them are very hardworking people who want to get ahead that either have some some Health Issues or have some of how this trick about luck the whole time joel bloom told me hes paying for a place to live and missing just a months rent can get she will take to the gunpoint if anything bad happens to any thing that just throws your budget off slightly. You better catch up real quick or youre going to have a judgment of possession against you and get addicted anyone thats homeless is treated like garbage. The pols look at you like a monster or someone bad or you chose to be there most of the time its not the case see how it is to be paul in the worlds richest country. When i was told small seemed wrong all right old old just dont call. Me old baby yet to shape out disdaining to come to educate and in gains from an equal betrayal. When so many find themselves worlds apart when shes to look for common ground. The russian Prosecutor Generals Office says that germany has failed to answer any of its questions on the alleged poisoning about that scene about only hampering its probe into what happened to the opposition leader. Meanwhile the race for the white house heats up between joe biden and donald trump in battleground states with results yet to be called 3 days after the election. If you count the legal votes easily when the count is truly shown to harrison i will be declared the winner of. The candidates clash over ballot results with some republicans even talking of fraud in the count now we asked