Transcripts For RT Boom Bust 20240713

We have those little most kids we. Have those little most kids we should was talking surprise us which was a surprise for me i was. Talking surprises which was a surprise for me i wars on the console and all of the above that for well because these are media people they come to found their toe hold all of the above that for well because these are media people they come to found their own kind so no need to trouble myself about it out so i wasnt ready for the crime so no need to trouble myself about it out so i wasnt ready for this magnitude all things happening that when they began to happen it was it magnitude all things happening that when they began to happen it was the spine that the society as it is was waiting to the spine that society as it is was ready to react to what it sees as a comfier job. What it sees as a comfier jobs. This is boom buzz broadcasting around the world and covering all aspects of our global this is boom bust broadcasting around the world and covering all aspects of our Global Economy in the 21st century im christiane washington and heres a look at what we call economy in the 21st century im christiane washington and heres a look at what we have in store for today the Federal Reserve has once again cut rates after the u. S. Economic have in store for today the Federal Reserve has once again cut rates after the u. S. Economic outlook remains shaky professor Richard Wolfe london to hand today to break down what that remains professor Richard Wolfe london to hand today to break down what that means for the future of finance in the states and around the globe. Their currencies for the future of finance in the states and around the globe. But their currency further into the mainstream regulators are beginning to take serious note of the technology further into the mainstream regulators are beginning to take serious note of the technology. Of the American Institute for Economic Research joins the phone today in studio Jeffrey Tucker of the American Institute for Economic Research joins the phone today in studio to help us sort through the safety concerns in the cook the space a minute. We have a help us sort through the safety concerns in the cook the space amid. That is to lets go and dive right in. The usa because it is a lets go and dive right in. The u. S. Economy grew at a 1. 9 percent annualized rate beating expectations of 1. 6 percent on may grew at a 1. 9 percent annualized rate beating expectations of 1. 6 percent but still below the already weak 2nd quarter print this 3rd Quarter Report that but still below the already weak 2nd quarter. And this 3rd Quarter Report reflected increases in Consumer Spending household investments and exports while business in the reflected increases in Consumer Spending household investments and exports while Business Investment inventory investments decreased personal consumption was the main driver as an inventory investments decreased personal consumption was the main driver as American Household spending rose 2. 9 percent growth in private domestic investment merican Household Spending rose 2. 9 percent growth in private domestic investment however it continued to decline down 1. 5 percent this reflects the continued and however continue to decline down 1. 5 percent this reflects the continued uncertainties and challenges facing manufacturers while 3rd quarter growth beat expectations certainties and challenges facing manufacturers while 3rd quarter growth beat expectations this present reflects the slowest pace of growth for 21000 as. This present reflects the slowest pace of growth 421000 as trade uncertainty and fears of a slowdown sap private Business Investment in the u. S. Consumption could be and fears of a slowdown sap private Business Investment in the u. S. Consumption continue to show resilience and continue to be the one bright spot left for growth all continue to show resilience and continue to be the one bright spot left for growth although the pace has slowed from 2nd quarters pace of 4. 6 percent so now the only goal the pace has slowed from 2nd quarters pace of 4. 6 percent so now the only question that matters is will the u. S. Consumer hold up especially when confidence the question that matters is will the u. S. Consumer hold up especially when confidence has fallen to a 4 month low stock slipped in the morning as the report highlighted it has fallen to a 4 month low stock slipped in the morning as the report highlighted underlying weakness in the economy giving the fed the green light to proceed with a 3rd rate cut and the line weakness in the economy giving the fed the green light. To proceed with a 3rd rate cut. The Federal Reserve cut Interest Rates by a quarter point. The Federal Reserve cut Interest Rates by a quarter point wednesday marking the 3rd cut since july the new range is 1. 5 wednesday marking the 3rd cut since july the new range is 1. 5 to 1. 75 percent and was characterized as a missed cycle adjustment and up to 1. 75 percent and was characterized as a missed cycle adjustment in a maturing economic expansion now the big question is whether this will be the limit churning economic expansion now the big question is whether this will be the last rate cut for the foreseeable future the fed has shifted into a hawkish tone in the cast rate cut for the foreseeable future the fed has shifted into a hawkish tone indicating a higher bar for further easing analysts say that the new language suggests an ending a higher bar for further easing analysts say that the new language suggests an increased level of data dependence rather than an ongoing intent to adjust rates lower crease level of data dependence rather than an ongoing intent to adjust rates lower fed chair Jerome Powell characterized the us economy as strong led by solid fed chair Jerome Powell characterized the us economy as strong led by solid Consumer Spending but threatened by factors such as global weakness china u. S. Tariff warm Summer Spending but threatened by factors such as global weakness china u. S. Tariff war and uncertainties associated with greggs it this however is interesting because the and uncertainties associated with greggs it. This however is interesting because the threat of a no deal breaks it has substantially diminished the odds of a trade deal have the threat of a no deal braggs it has substantially diminished the odds of a trade deal have risen so these excuses have been nullified and yet we cut rates for a 3rd risen so these excuses have been nullified and yet we cut rates for a 3rd time why would we do that if the under of economy is time why would we do that if the under of law economy is strong on top of cutting lets not forget that the fed has been back strong. On top of cutting rates lets not forget that the fed has been buying bonds again yet officials still insist that it was to stabilize the fungi and bonds again yet officials still insist that it was to stabilize the funds raised further rather than a full blown q. E. Well that stabilizing rates further rather than a full blown q. E. Well that stabilizing was a clip of pick up the billions of salopek simo 1000. 00 which is always on almost which curiously almost during the week the great you eat during the great recite recession. And lets not forget and lets not forget the repo popular lets still isnt over yet as there is a 130000000000. 00 revolving repos the syllabi trying to relinquish as there is a 130000000000 dollar revolving repos the syllabi trying to reliquefy the Banking System every night the Central Bank Balance sheet expanded by the Banking System every night the Central Bank Balance sheet expanded by over 100000000000. 00 over the past month and is back above the 4 trillion dollar mark over 100000000000. 00 over the past month and is back above the 4 trillion dollar mark if the economy were great why did we need this big stimulus injection into the economy were great why did we need this big stimulus injection into the market to prop it up. Chinese steelmakers market to prop it up. Chinese steel makers she was a group defaulted on 142000000. 00 of bonds last week sparking Clearwater Group defaulted on 142000000. 00 of bonds last week sparking concerns of a debt contagion effect in the Region Companies in the sands own province are uncertain of a debt contagion effect in the Region Companies in the sands own province are well known for providing guarantees for each others debts so this default now raises his well known for providing guarantees for each others debts so the. The fall now raises huge concerns that other privately owned enterprises may have been associated with huge concerns that other privately owned enterprises may have been associated with she was cross guarantees among the companies have the potential to cascade liquid you want to cross guarantees among the companies have the potential to cascade liquidity issues throughout the Credit System neighbor firms home child group and sanity issues throughout the Credit System neighbor firms home child group and sunshine groups bonds have both dropped to their lowest level after she won default shane groups bonds have both dropped to their lowest level after she won the fault more Chinese Companies are defaulting on private bonds this year as a slowing economy weighs down more Chinese Companies are defaulting on private bonds this year as a slowing economy weighs down on revenue the nations issues have missed repayments on 4400000000. 00 on revenue the nations issues have missed 3 payments on 4400000000. 00 of private bonds this year and beijing is now cautious of large scale the falls as a private bond this year and beijing is now cautious of large scale the falls and systemic risks chinas bond market has ballooned up to 13 trillion dollar and systemic risks. Chinas bond market has ballooned up to 13 trillion dollars almost as big as the amount outstanding elsewhere in the world yielding negative interest theres almost as big as the amount outstanding elsewhere in the world yielding negative Interest Rates. Rates. Theres a ton to unpack here and to do so were joined by Richard Wolffe Professor Emeritus at the time to unpack here and to do so were joined by Richard Wolffe Professor Emeritus at the university of massachusetts amherst so professor well lets start off protests at the university of massachusetts amherst so professor well lets start 7 off with the news breaking within the last few hours the latest sped rate cut by 25 minutes to with the news breaking within the last few hours the latest sped rate cut by 25 minutes to a range of 1. 5 to 1. 75 percent so is there any way to read these grange of 1. 5 to 1. 75 percent so is there any way to read these continued cuts other than a response to a slowing Global Economy. Continued cuts other than a response to a slowing Global Economy. So i think. That the leaders that are there like to go is going about in gold. But. We have to have this bizarre. Split we have a president of the political elite telling us that the a kind of split we have a president and the political elite telling us that the economy is strong even mr powell said that and yet doing the things you normally dont the me is strong even mr powell said that and yet doing the things you normally do when an economy is weak thats the 1st kind of confusing piece of information to what an economy is weak. Thats the 1st kind of confusing piece of information but there are other reasons to cut Interest Rates for example helping the repulsion but there are other reasons to cut Interest Rates for example helping the republicans and mr trump get reelected boosting the economy by making credit billikens and mr trump get reelected boosting the economy by making credit cheaper thats also going on here even though the people playing these games cheaper thats also going on here even though the people playing these games will deny it i think theres an important key factor will deny it i think theres an important key factor we have a split economy in another way theres the real economy where we go to work and we have a split economy in another way theres the real economy where we go to work and we produce things and so on and then theres the paper economy the stock market what has been produced things and so on and then theres the paper economy the stock market what has been going on is that the economy underneath the one we all live in is very going on is that the economy underneath the one we all live in is very mediocre i mean i read the other day that j. P. Morgan chase is 3 mediocre i mean i read the other day that j. P. Morgan chase is thinking of moving out of new york city to save money and the explanation was thinking of moving out of new york city to save money and the explanation was to prepare for the ongoing and the coming recession so to prepare for the ongoing and the coming recession so there is this split between the real economy which is weak and the stock market there is this split between the real economy which is weak and the stock market which is booming but heres the explanation the Federal Reserve is pumping up which is booming but heres the. Nation the Federal Reserve is pumping up the money the only. Correct. It is a day of the easing disguised as stuff for the market this guys announced as little growth for it all from the. Get it and now the lowering of Interest Rates what that was what. Donny makers did cheat it to you know pump up money do it make it cheap to borrow and you know with doing the borrowing people who play the stock market thats why the prices of the studying the borrowing people who play the stock market thats why the prices of the stocks have gone on and so. On and mean so it is mediocre that there is actually very very dangerous the day id card i mean jury is out of me and i and i think we will look back on the 3rd sides action as a as a worrisome sign that that theyre more rigorous did it in keeping this bubble going then they arent confronting the underlying problem this bubble growing then they are and confronting the underlying problems of this economy so 2 this is a very dangerous storms i mean of the city so we called are going to happen and so 2 this is a very dangerous dichotomy so what happened in this summer if the fed given its very hawkish tone this time if they decide to in this summer if the fed given its very hawkish tone this time if they decide to not. And the us markets to get a point and the market i suppose it is to get. Well i have i think is that your its your youre absolutely right and the rights that i was the question should be quick question was should be called would then suggested it would then suggest that the game of keeping the bubble going has become too dangerous that the game of keeping the bubble going has become too dangerous the Federal Reserve is not supposed to flood the money into the system at this pace the Federal Reserve is not supposed to flood the money into the system at this pace you know the joke of mr powell is remark to keep the expansion going you know the joke of mr powell is remark to keep the expansion going thats not going to do the job of the Federal Reserve every teacher knows who teaches economics as ive done it almost all my life at the level. Of Interest Rates you when the economy is Interest Rates when the economy is weak not when its expanding you do that in the moment of expansion not when its expanding you do that in the moment of expansion is when you raise Interest Rates to slow the process down to build up the kinds of reserves youre going to need to get through our hard time the fed isnt doing is when you raise Interest Rates to slow the process down to build up the kinds of reserves youre going to need to get through our hard time the fed isnt doing we know now that it is piling more more more money and on top of more and more money money money its nice its what while it around runs up but what when and it runs down watch out at and thats the thing to worry about so we also have in the 3rd quarter where we see that the u. S. Economy worry about so we also have in the 3rd quarter where we see that the you. Economy grew at about a rate of 11. 99 percent which as we previously stated data out outpaced the expected to 1. 6 percent rate but still well below where we were in q 2 meanwhile consumer concepts percent rate but still well below where we were in q 2 meanwhile Consumer Confidence has has now fallen to a 4 for my month low so what do you take a week away from from these latest figures. Well i think lets put them together with the numbers from a few weeks ago. Well i think thats put them together with the numbers from a few weeks ago indicating that the chinese economy was growing at about 6 percent which is the lower heading that the chinese economy was growing at about 6 percent which is the lowest it has been in a long time what youre seeing here is that the trade wars it has been in a long time what youre seeing here is that the trade war initiated by trump and the Republican Party is hurting both major player initiated by trump and the Republican Party is hurting both Major Players the child and he achieved eyes in the one issue and one on the ambien and i live at a meet and outs and in other in the up the this is the done most is done mostly to get mr trump riolo sex look at it to get but at the. Paying of. Its what are paying on both sides are enormous are in fact norm its whats life thats why that you had that. On china china where worried people over the last couple of days and so on my guess is that we have people over the last couple of days and so on my guess is that we are going to see a building rage and anger at the economic corner going to see a building rage and anger at the economic costs that the world is asked to pay for a political struggle was that the world is asked to pay for a political struggle here inside the United States and again lets not lose sight here inside the United States and again lets not lose sight in china the rate of growth was 6 percent this last period in the annihilate in china the rate of growth was 6 percent this last period in the United States 1. 9 percent for people who understand what it states 1. 00. For people who understand what that means the chinese economys growth and the american the cant that means the chinese economys growth and the American Economy is in the ability to keep up is the most important historical reality is in the ability to keep up is the most important historical reality of todays numbers a lot of asset bubbles bubbling up all around the world already of todays numbers a lot of asset bubbles bubbling up all around the world better keep your watch on its very worrisome professor Richard Wolffe at the university messages there better keep your watch on its very worrisome professor Richard Wolffe at the university messages samaras thank you so much for being here. Thank you. And thank you so much for being here. Thank you. Time now for a quick break but hang here because on the other side as cryptocurrency is going to time now for a quick break but hang here because on the other side as cryptocurrency is continue to climb in the public consciousness governments are taking notes on how to move forward in the pentax space to climb in the public conscious and governments are taking notes on how to move forward in the pentax space Jeffrey Tucker joins us in studio after the break to talk about consumer safety in the field and much Jeffrey Tucker joins us in studio after the break to talk about consumer safety in the field and much much more much more as we get over here at the numbers at the club and to get a break here are the numbers at the close. And were going to fulfill. And were going to fulfill that would be to put this is politics to the people come on you look be truthful this is politics to the people come on you know weve all bought the youre going to read. It weve all bought you going to read. Read read. Read a great interview. Pretty good pretty good for a fact now you want to correct that how you want to support. That. You know. All. The. All the. Big. Big. Mo yup. Yup. The age of 8 was just if it was a case of economic and i can operation mexico i met up with some etc metformin know about mid november and santagati. So has been a. Protest in the nation the government was forced to extend a state of emergency to several cities last week in the nation the government was forced to extend a state of emergency to several cities last week as protests continue due to a proposed it increases and public transportation. And what they described as economic inequality they did. This economic. Over the weekend mr pinera made concessions including an increase to minimum wage and raising taxes on the wealthy sessions including an increase to minimum wage and raising taxes on the wealthy chilean president said he. Addressed and. Addressed me as a kid on celestion and why the media to address what day. Is president deval chilian always put the. Intrigue in the city as president deval chileans always have to put the problems in interests have to weigh ins there needs desires in their home 1st in the. U. S. President donald trump and chinese president xi were said to me in the summit to weigh ins there needs desires in their homes 1st in the. U. S. President donald trump and chinese president xi were said to me in the summit to discuss to discuss. One of a trade deal between the 2 countries in port au reclaim the courtyards who claimed the 2 would sign. And date but its. Official later later. That the deal with the likelihood that the deal would likely not be rapid are you ready in time to for the time to suffer them a summit. At the time it is unclear where when and where the 2 sides may meet to finalize phase one boom bust will keep you updated the 2 sides may need to finalize phase one boom bust will keep you updated. Washingtons ongoing war on huawei has apparently had. Washingtons ongoing war on huawei has apparently had the up of the us all the fact up in chinas sign of the fell back where in. That the. That the Telecom Giant has captured a record share of the chinese smartphone. Up of the. Container arctic locket while apples sales continue to decline this as apple prepares to launch its own series of 5 g. Phones and it is this as apple prepares to launch its own series of 5 g. Phones and it is back to ship more than 80000000 phones Rachel Blevins joins me now to break down them to ship more than 80000000 phones Rachel Blevins joins me now to break down the latest so what are these latest numbers well kristie while we continue to extend its lead in this later this morning. And it all now coming out of these latest numbers saying well kristie while we continue to extend its lead in the 3rd quarter of 2019 and it now commands 42 percent of the Smartphone Market in china which is far above but already 2 percent of the Smartphone Market in china which is far above both local competitors and its u. S. Competitor apple now if we take a look at the number specific local competitors in its u. S. Competitor apple now if we take a look at the number specifically reports show that wall way shipped 41500000 smartphones in china a report showed that wall way shipped 41500000 smartphones in china from july to september marking a 66 percent year on year growth. From july to september marking a 66 percent year on year growth meanwhile. In the region. That fall in the region apple and kills market share. And all and apples market share in Mainland China dropped from 7 percent down to 5 percent so we see that even though there is kinda dropped from 7 percent down to 5 percent so we see that even though there is continued criticism from the United States government chinese buyers are going even more towards wall she knew criticism from the United States government chinese buyers are going even more towards wall way and theyre turning away from it turn there to give her and so will what is a few of these american alternative so what is the impact of these sales on the market specially on the well mothers in arkansas these for a while for. Brittle this increase for wall ways specifically comes at a really important time because as weve seen with the u. S. Government they have made no indication that they will be badly important because as weve seen with the u. S. Government they have made no indication that they will be backing down any time soon and researchers have even noted specifically backing down anytime soon and researchers have even noted specifically they have spoken out and theyve saved a. Minute. Wait a lot of good howard negotiate with the supply chain and it ended creating reason crease it. With. Partners meanwhile mean only when you come not only is only a company like apple apple feeling the only a few effects of this ongoing trade war and the us going. Away and the same to us has government stance on wall way but at the same time us. Stand also as a state and they will keep a lot more than they could lose more. Than 56000000000. 00 in the next 5 years just in revenue if the United States. In the next 5 years just in revenue if the United States keeps this ban on wall way and apple where are they on the entire 5 g. Race ban on wall way and apple where are they on the entire 5 g. Race well its interesting because apple is actually behind when it comes phones lou its interesting because apple is actually behind when it comes to these 5 g. Phones and weve seen Companies Like walk away and. Already. 85. 55 just you phones and was kind of stayed behind and even with this new i phone 11 from apple they have to kind of the. Domain and even with this new. Alone a lot of it of. Only did the container but they still only hammer out which is what a lot of users were calling for but they still only had for 4 g. Technology but thats ok because the because theyre in their mid may be a 5 g. I phone. Early as 20202020 now reports thats that are coming out are saying that apple is mobilizing suppliers to produce its 1st ever 5 g. I phones next year well is mobilizing suppliers to produce its 1st ever 5 g. I phones next year with 3 flagship models also set to include the most advanced mobile process with 3 flagship models also set to include the most advanced mobile processors available and leading edge screens now apple is expected to ship more theres a vailable and leading edge screens now apple is expected to ship more than 80000000. 00 of these phones out which means that they are pretty excited about it they think its going to be 80000000. 00 of these phones out which means that they are pretty excited about it they think its going to be really popular but at the same. And there are concerns that they may be a little bit too late to the game to be really popular but at the same time there are concerns that they may be a little bit too late to the game and maybe by the time the big get their 5 g. Phones out there and maybe about some of its a new kind of like the wall they get their 5 g. Phones out there their Companies Like wall weigh in like samsung are already going to have the corner on the market so regarding the 5000000 like samsung are already going to have the corner on the market so regarding the 5 g. Technology can the u. S. What can you tell us about the upcoming f. C. C. Vote so the federal communique ology can the u. S. What can you tell us about the upcoming f. C. C. Vote so the federal Communications Commission is expected to have a vote on november 19th where they will decide whether sessions commission is expected to have a vote on november 19th where they will decide whether cellular provider in the. For. Some subsidies for use or need to be seen by a government subsidies to buy equipment from china come from china. Is look like my wall will weigh and lay eggs and. The chief here and now the chairman of the f. C. C. Released a statement that. He. Specifically a statement in which he said specifically quote when it comes to 5 g. In america security we cant afford to take a risk and when it comes to 5 g. In america security we cant afford to take a risk and hope for the best we need to make sure our networks wont harm our National Security threaten our hope for the best we need to make sure our networks wont harm our National Security threaten our Economic Security or our value now carol its interesting because this is our values now its interesting because if this vote passes not only will pass and one of the hallway will in. Iraq will also. Earn isa plier earning company that the united. States is an international success. Here are the risks so you know it is a National Security risk so it could harm the United States 5 g. Network in the long run rapidly changing and could harm the United States 5 g. Network in the long run rapidly changing environment richard love and thank you so much for breaking it down thank you. Rachael love and thank you so much for breaking it down thank you. The latest hack of bitcoin demonstrated to regulate. And. Elation and the late it does has gotten a bit equal to consume in stage regulators that scrutiny and more regulation does not equal to consumer safety the hack occurred due to an authorized access to state key is the house. An authorized access to the private keys of bitcoins hot what wallet it lost approximately. 30000. 00 in dollars and is one of the pantheon is one of the few countries where cut those are legally accepted form of payment and they have been at the 4. 00 countries where cut those 2 are legally accepted form of payment and they have been at the forefront of blocked train innovation the exchanges are governed by the Japanese Financial Services agent from a block Chain Innovation the exchanges are governed by the Japanese Financial Services agencies but now analysts are questioning the scrutiny and whether this is healthy or non sees but now analysts are questioning the scrutiny and whether this is healthy or not. Viewing that elation. And more scrutiny does no good not. That all. That its had. Been for to other it could lead to other it could lead to a reduction. In safety he said that say that ended the war set in force and significantly to prevent if but they had a guarantee on Security Experts prevent. But they are not Security Experts as far as i understand their main state is and see them into maine and seem to be one more. There scrutiny he is the reasons into to put put pressure on exchange in exchange finance and finally in an alley in the us and lose focus on some security. This comparison wasnt hard harkens back to. 6 defendants of libra where an unfree reasonable amount of a regular regular scrutiny actually does just tracks focus from innovation and consumer satan and so much they are safe apparently they play a pain only when im at. A focus. With more on that if it isnt on the up the latest welcoming. We re talking about a tour director geoffrey to the america editorial director of the American Institute for Economic Research initiative for economic squeeze so rich in this our secular laws at work are beefing this our regulars actually focus on the us on the things one thing makes when it comes to scrutiny and secure and steady and that they are local that is our focus more on and on. And than any. Fair burden on a burden on exchanges its really true i mean if we had had this level of Regulatory Oversight changes its really true i mean if we had had this level of Regulatory Oversight in 2009 we would never have sing because even come in its in 2009 we would never have sing because even come into existence we need permission this environment that allows experimentation to existence we need permission lists environment that allows experimentation that sort of thing the idea that regulators know block chains are going to think should they have regular the regular no block chain and crypto should work and should have oversight on the wall of technology for example. Is utterly ridiculous. Oversight on the wall of technology for example is utterly ridiculous its only only entrepreneurs and innovators who editors understand. This tech tech and all of these are attacked. By the way this is not this is not a hacking or hacking cortex or technology its its. Of wallets and particular applications. And to typically the code is always was buggy and its actually a good thing when things get hacked you know because then we can discover the problems and its private markets that act you know because then we can discover the problems and its private markets that manage this well regulators only want to control theyre not actually into that manage this well regulators only want to control theyre not actually interested in our assistant curator c q. Yes yes so i b i am actually actually issued a report that says theres a central battle and that right now is actually the criterion entrusted in creating for their own decision in creating their own Digital Currency should its as soon as 2025 but even if they do sell well anything about her assurance as soon as 2025 but even if they do sell well and if they have actually changed because this will still be a centralized currency and nothing would have actually shift change because this will still be a centralized currency and nothing would have actually shifted in terms of. The ontario at all have brave you have to. Buy out scripts about the. Chrome but i dont blame them for one of the claim problem for the 3rd one of the key purpose and at the time who i am because it will do the cool thing new thing but actually only. 22. To be evolved very advanced. And to be very advanced and theres so many private kryptos out there and so many of them are surprised to have a blog. If it is kryptos out there and so many private block chain technologies actually think. Some of us an extra bit of. A kind or a crow from the earth stuff on this stuff you know 3rd of minds are actually very old once we actually had the old days when it was for us and in fact. Theres a good for everyone to have a program in government so were going to have our own email accounts and everybody will adopt them because everybody trusts the government going to email accounts and everybody will adopt them because everybody trusts the government you know and it didnt work and they had to shut it down it was just a silly thing because by this time it didnt work and they had to shut it down it was just a silly thing because by this time they were already really is already going to produce some of it pretty well so i would email service the services and probably somebody probably serves as solve the problem of security of spam and and they became when we can use them i think its more of the same thing as has happened in the crypt of space crypto isnt ohara private and had an elegy. Knowledge and. Not for ideological reasons but. You know i dont want to go really means you know i mean him its just private markets just better of experiment in with with new technology as is so so selfcentered and so Central Banks and banks which prior to that i asked for them to to just get a lead to catch up after having said no this is very bad for like 3 years now theyre like ok its up after having said no this is very bad for like 3 years now theyre like ok its good and were going to do it better its just up actually believable so why the u. S. Is still so its good. Were going to do better its just up actually believable so while the u. S. Is still saying that no this is bad the Chinese Government especially they have actually just paid off for one thing that i know this is bad the Chinese Government especially quando they have actually just paid off for 140000000. 00 subsidy fund in order to promote a blockade initiatives in the region 140000000. 00 subsidy fund in order to promote a blockade initiatives in the region so what sectors are what types of blocking projects in particular do you think that theyre focused on now so what sectors or what types of blocking projects in particular do you think that theyre focused on now well theres throwing money around sort of a model by the way its law its you know by the way a its you know a couple 100000000. 00 it doesnt actually amount to anything and probably the companies that get these gifts are a couple 100000000 it doesnt actually amount to anything and probably the companies that get these gifts are not actually going to mount anything so this typical member say a bit like theyre not actually going to mount anything so this typical member say a bit like the chinas industrial policy is now being applied to block change it doesnt actually mean that chinas industrial policy is now being applied to block change it doesnt actually mean Anything Technology is a technology of documentation ownership right see anything block change technology is a technology of documenting ownership rights which a limit is kind of part of risk and provides a much more effortless transaction which a limit is kind of part of risk and provides a much more effortless transaction peer to peer so that one of the applications of this infinite been peer to peer so that one of the applications of this infinite but nobody knows for sure but its going to mount to the most marvelous thing that is of course nobody knows for sure but its going to mount to the most marvelous thing that is of course private currency thats beautiful but it could also pertain to you know art Auction Private currency thats been. But it could also pertain to you know art auctions to anything that requires if you have a card titles to anything that requires if you have a card titles property titles theres so many applications a block and were just in the early stages property titles theres so many applications are blocked and were just in the early stages and i dont think any governing government. You know shows who are for sure who are. How its going to work out its going to work out yeah im going to have to. Really do that theyre going to have to be that for me going to be up to entrepreneurs and the private sector you know i think one of the things that weve been taught through block chain. You know i think one of the things that weve been taught through block chain. Industries because and so on is that nobody knows for sure what the future should industry because on and so on is that nobody knows for sure what the future should look like and thats why we need to radical experimentation and for the regular clock and thats why we need to radical experimentation and for the regulators to get out of the way and just let private markets work and this is to get out of the way and just let private markets work and this is very suckered reserves that are back right there with the other good examples because the rest of the danes just. Say oh actual poor the doctors only did things on the real thing really interesting Climate Change has been such a big deal for say a quarter starting right cause they have to check it is it has something called been such a big deal for singapore and right now they have created something called air carbon which areas are clearly doesnt watch this switch as a global i just. As a globalized Carbon Trading platform and they now trade value carbon trade value over 100000000000. 00 and they now trade value carbon trades value over 100000000000. 00. So this was a big deal this is a big deal for us and it looks like our all in a look at me its like like i told everyone of. Our companies are coming out of singapore coming out of china coming out of japan so right now south korea out of something up well quackery out of coming out is a huge huge pan so right now south korea south korea as well is a huge hub so do you think that the us is are really ready to get behind us and the you what are. You saying that isnt it is accused that its mouth is if you go to any goods to these countries these are the trees the kind of. Innovation the desperate the best for the it was thrilling than they were under the thing that would make me make make money money and make new beautiful for products and its really exciting exciting time. And everything is being told. That now nowadays and its and its just. There. And number of totenberg zation opens up in the ever include of being. Includes creating Climate Change credits attached to so social media look like who would have thought thought. It was about a guy whos going to be the guy. With. Everybody and everybody in this space and in the internet i mean i knew we were talking as a nation and to know who of the new world tokenization of of all important things if its a value if its important. Its a value if its important to you right now in asia somebody is tokenized it. And in this country in the u. S. Its just like nobodys tokenized it. And in this country in the u. S. Its just like no no no no no youre bad youre bad and this goes back to the. Those controllers could be the training this is the thing this is the. Pattern for it and. Its interesting very interesting to see me to see the way the way the sector is just its just a little version. Except except in the us its like you have an idea you better sit in front of the can you congress so its like you have an idea you better sit in front of the senate and the congress and were going to grill you for hours were going to going to really get you for. That and also innovators and entrepreneurs and. If you leave. Those think those of us in the space race recognize that was exactly whats going on were going to go on for probably 666 years theres no its deeply tragic and i dont know how to turn a rumor weve got to its deeply tragic and i dont know how to turn a rumor weve got an american has a culture of this punishing innovation american has a culture of this punishing innovation and correcting entrepreneurs and investigating everybody and regularly. Correcting entrepreneurs and investigating everybody and regularly but meanwhile the rest of the world is what kind of cool new thing come over to make my resume. Because sort of what kind of cool new thing can we do to make money i think thats the right attitude right attitude exactly exactly. Its really its a its a really dangerous precedent and when you Start Playing innovation Jeffrey Tucker of the American Institute for Economic Research thank you so much for being here. Jeffrey tucker of the American Institute for Economic Research thank you so much for being here thank you. Thats it by this time you can catch the must on you thank you. Thats it by this time you can catch the must on youtube dot com slash i must see you next time. To dot com slash i must see you next time. Ok today i wouldnt bet im going to stand there in this mess that debt and bad debt its been system back to the better data center and the it was a sunny and the wind blows it in the you know that is the to you know its medicine taste its really interesting the trick the looked at it is those who are in syria the cia and this military that it is those who work in syria the cia and the us military were engaged in covert actions really throughout the world. Where they were assassinating populist leaders they were backing up right Wing Military juntas funds were engaged in covert actions really throughout the world. Where they were assassinating populist leaders they were backing up the right way military windows funding an army means being just just wotsits. That theres no sense anymore because thats not always a small ill take on. Or more really going to cut of this. Instance to profit. Off. Max keiser financial Survival Guide stacey lets learn about backscatter financial Survival Guide stacey lets learn about the bailout lets say im not sure i get any or at least. Have the feel out lets say im not sure i get any or at least. From the fight wall street spot thank you for stopping. By 9 wall street spot thank you for taking. On the story thats right. On the story thats right. Thats slavery. Thats slavery. Move. Move. Move move. Move. See him do you see him do you see when im with you to see him if you know show me. Look at with the showing of the ship is going to. Look at with the showing of the ship is going to. Do you think it will show. You something. You think it will show. You something. Which im sure. Because you look good. You never knew most of the book because the book this new book because the book you before thats so. Yes i do we all know what that move. For the move. Was the latest news in the bus. Stop. Was the latest news in the bus. Boys and im all right so you had to put this was going to say museum all right so yeah thats right this was going to say. Lyricists through the summer in the story yeah. It doesnt move lyricists through the summer in the story yeah hopefully it doesnt. With a snap along with a snap election on the way and they brags that extension in the baton on the web and harley bill of rights and. In the part about timekeeping about u. K. s parliament finally starts talking about other things the Prime Minister and the leader of the opposition clashing about every other thing i think this is the Prime Minister and the leader of the opposition clashing over everything from russia and salisbury to us designs on the n. H. S. From russia and sells for free us to science and h. S. You know all the parades to be. About 2320. 00 president ial candidate in the us 2020 president ial candidate in the us is going for everything. Its going to will go under in the stuff i did. I did get a little bit of back. The big push to just get almost in touch number they got out of a push office just spent almost im sure theres a number of doubters a Little Office just because theres a lot of confusion with what theyre democrats and theyre not really. Thank you but you know 19 to gether to me to me make one strong candidate and then that and the big gets from this and the biggest. Where. Comes to be also what think that without causing