Transcripts For RT Boom Bust 20240712

A new move in the north stream through the pipeline saga unfolding in europe we take you on the ground in berlin to break down the new developments and why the u. S. Is pulling out all the stops to halt the project. Amid rising social pressure some professional sports teams are looking to change their mascot but what could the economic consequences look like we take a look at the issue and the sponsors putting pressure on the team to change with a packed show today so lets dive right in. And china is the greatest long term threat to the United States those words are from the f. B. I. Director Christopher Ray who bless the Chinese Government in a speech made at the Hudson Institute raise comments about beijing are wide reaching include everything from accusing china of attempting to become the worlds only superpower to claiming that china has engaged in a campaign of theft and malign influence you know reach the point where the f. B. I. Is opening a new china related counterintelligence case about every 10 hours. Of the nearly 5000 active f. B. I. Counterintelligence cases currently underway across the country almost half are all related to china and at this very moment china is working to compromise American Health Care Organizations pharmaceutical companies and academic institutions conducting essential coded 1000 research. The f. B. I. Director wept on to say that china manipulates politicians on a local level as well as businesses and journalists china often pushes academics and journalists to self censor if they want to travel into china and weve seen the Chinese Communist Party Pressure American Media and sporting giants to ignore or suppress criticism of chinas ambitions regarding hong kong or taiwan this kind of thing is happening over and over across the United States in response the Chinese Foreign Ministry Says that these comments are part of a new cold war with china. After the eyes of the han the. Raising remarks ignore basic facts and are full of political lies they dont get fully exposed his deep rooted cold war thinking if an ideological prejudice china firmly opposes this they know you will. I would like to stress that some u. S. Politicians have recently made unwarranted smears on china playing up the socalled china threat and attempting to divert public attention and conceal their own problems with their plots are clearly seen by the world and will by no means of succeed. Theres a lot to unpack here so joining us now to do so is boom bust cosen investigative journalist ben swan and host of economic update professor Richard Wolfe thank you both for being here now professor wolf i wanted to start with you here but we heard f. B. I. Director ray say that half of the bureaus 5000 counterintelligence cases deal with china is this such a broad brush that makes these statements kind of appear as if china has its hands in quote attacking every part of American Life i mean what do you make of all of this. Well i think this is absolutely kind of over that it must have been a decision to rather ratchet up the cold war language thats been building up now for 2 or 3 years its sort of ironic to fuse the chinese along to be the worlds superpower if you are in fact the worlds only superpower as you say so it suggests what most of the world believes that what is going on here is that the United States has not heard that another country is able to grow its economy stache the United States thats been true for 20 odd years its changed a lot and now the United States is going to have worked out. Some way to live in the world where its not anymore alone that the economic will now you should do that in a balanced way but what were seeing instead is lots of overheated political rhetoric thats only going to make working it out harder for all of us and a war in this age with Nuclear Weapons is so crazy that id like to believe thats not part of whats lurking here and now ben one of the statements made by the f. B. I. Director claim that china has engaged in where is my quote here economic espionage whats significantly is he claiming when he talks about economic espionage. Yes so essentially what the f. B. I. Director said and i want to read you what he said here he said that as you said economic espionage was a term that he used but he said that that link to china has increased by 1300 percent saying those called the stakes could not be higher and the potential economic harm to american businesses and the economy as a whole almost defies calculation he went on to describe what chinas doing as the largest wealth transfer in modern history heres whats really amazing about that is that china is accused of attempting to conduct economic espionage and shift american money to itself meanwhile not a word was said about the fact that massive numbers of american corporations have outsourced jobs to china in order to boost the bottom line for shareholders and to make a lot of goods here in the United States very cheap by not paying American Workers to do that work where was the criticism of that i mean you cant act as if china is alone in this wealth transfer a lot of the wealth transfer that has occurred in terms of american jobs going overseas was it initiated by china it was initiated by american corporations and its followed up today by american corporations i know professor wolf i mean obviously we talk about how a trade war and the battle with weiwei could create this trade or this cold war that obviously were discussing and that may be where were heading but i mean how much of Christopher Rays comments are really just to to back up this push on trade to back up this push against tech and when it comes to walk away is that where were seeing what were seeing right now. I think thats part of it i think then its not only a married person is in what he said decision to who were not sugar china was made by american corporations no one held a gun to their head they understood if they go to china they have to give the chinese something and what they gave them was a share in that knowledge and what they got in reach were much lower. Wage workers and access to the Chinese Market which is one of the biggest and Fastest Growing in the world a good deal for china but equally of very good deal for american corporations thats the honest truth the reality is that technology is an area where the chinese are strong very strong while les has technologies that American Companies will need to access sooner or later so going after them is a kind of a problem patient if you like but it only makes the tensions worse when what you really need is to work out a way to blend of to a common ordinary so we dont get each others way and that requires some accommodation from the United States which hardliners like this f. B. I. Person seem not to want to think about or say and some colors it all in very extreme ends which i think makes the situation worse and quickly before we wrap up you know weve heard all the conversation about why our way and c. T. E. Now were talking about tick tock in banning other chinese apps i mean where do we see this Technology War going. Well i think were going to see a ratcheted up and i think professor wolf is correct when he says that the chinese are way ahead in terms of a lot of this technology us certainly huawei in their 5 g. Technology so the u. S. Does need that but i do want to say that one of the big criticisms thats been love leveled against the chinese over this National Security law we did see you know as we talked about previously the fact the ticktock is no longer going to be active in hong kong as the English Version the chinese version. By dance for centrally takeover there but while there is criticism here of that the u. S. Is doing the exact same thing with ragin uptalk and passing laws to ban the chinese from operating here to stop foreign influence what the chinese are doing the same thing there its literally the same game is being played by both countries for pointing fingers at the other poor. More to cover but at last were out of town ben swan and professor richard roth thanks so much for your time. And the Trip Administration has officially started the process of leaving the World Health Organization following criticism of the institutions handling of the corona virus pandemic now according to reports the white house has submitted a notice of withdrawal to the United Nations secretary general and the u. S. Congress which will be effective july 6th of 2021 leaving the w. H. O. Does require a one year notice before becoming final now the news comes amid spikes in cases of the coronavirus within the United States so on that note lets take a global look at the spread of the virus with r. T. Correspondent sorry to have it or so where are we on wednesday so brenda where we are right now global cases theres now more than 12000000. 00 cases Worldwide Global deaths theres over 549000. 00 taking a look at the u. S. Theres over 3000000. 00 confirmed cases right now which is over 25 percent of the full global case says u. S. Deaths there are 134000. 00 so just so youre seeing the numbers right here thats nowhere from being over or under control the virus which is why its so daunting that the trumpet ministration has announced that the u. S. Is officially was drawing from the World Health Organization you know where the u. S. Is w. H. Y. The largest donor and provides it was more than 4 150000000. 00 per year and this move is being criticized by lawmakers here in the u. S. And by other World Leaders since the w. H. O. Is the Main Organization that cordon its efforts to get personal safety and medical equipment like ventilators and other critical supplies to hospitals around the world but president has consistently accused the organization of aiding china and allegedly covering up the origins of the virus and allowing its spread and brand is a very dangerous move by the u. S. During a once in a Century Global pandemic which could also. Interfere with Global Clinical Trials essential for developing vaccine as well as efforts to trace the spread of the virus globally lastly i just want to mention that the pullout one take effect until next year like you said which means it could also be reversed by a new administration and thats exactly what joe biden the democratic president ial nominee has said that if elected he would reverse the decision on the 1st day in office brant. How does the u. S. Compared to other hot spots around the world so in no other place in the world has more confirmed cases growing as quickly as there are in arizona florida and texas the u. S. States and this charge now it ranks the countries with the most come from new cases over the past week now just that for population size and treats each u. S. State as if there were a country because number many u. S. States have a Larger Population than some countries now the only 3 countries with outbreaks as severe as across as somebody states are a bad man qatar and oman not 3000000 stern countries with large numbers of very low wage Migrant Workers and these workers often women very cramped housing brand without any kind of medical care now while we keep hearing from the from President Trump that the high numbers that were seeing in the u. S. Is due to testing but thats not completely true since the u. S. Does not have a high testing rate for a developing country archie correspondents are terrible thank you so much for keeping us up to date. And time now for a quick break but hang here because when we return as some sports teams are facing heat for their mascots pressure is mounting for them to change their names could such a move mean for foreigners well well bring you the details and as we go to break here are the numbers at the close. You know fred philosopher of altair said a lot of smart stuff like the value of all paper my eventually gets to its Intrinsic Value 0 smart guy right yet a lot of other smart things to save. For new. Desires you know how awesome they are. Transported right james over inflation and in america and he said. She loved this person for 44 years. In minutes sure if you go she you and was a. Leader it was he. She. Drops to be. The one. That i know i think you know most black thing is my look others are getting me out and i am a well meaning they say and i mean i dont mean youre nice i am. Going to be someone to be someone. That you know im going to. Be like this model. Join me every thursday on the alex salmond show and ill be speaking to us of the world of politics or business im sure business ill see you there. Welcome back despite months of pressure from the United States denmark has allowed the russian nord stream to pipeline to continue development through the nation and for more on the development of the controversial Infrastructure Project which are things over to our correspondent peter albert in berlin. It may be loathed by politicians across the u. S. But denmark has given the green light to the north stream to gas pipeline project to come to new with all important undersea pipe playing vessels being put to work the Danish Energy agency has decided that nord stream to aig also may use pipe laying vessels with anchors in connection with the construction of the north stream to pipelines the pipeline is a joint project between Russias Gazprom and 5 other European Companies when its finished it will bring an extra 55000000000 cubic meters of gas directly from russia into germany and these particular danish ships are crucial to getting the job completed as we expected the da satisfied our request we will implement the project in accordance with the Building Permit and Environmental Impact assessment we continue to consider various options for its completion and in due time we will inform about our plans. The reason this specialized equipment is so important is that the pipeline is being laid in some particularly choppy waters nothing to do with nautical conditions more to do with the 50000 tons of chemical weapons that were dumped on the sea floor in the area during post world war 2 decommissioning. The response from washington to the project is being equally toxic the United States says this pipeline will make europe overly reliant on russia for energy it lol so would lessen demand for u. S. Liquefied natural gas last month a bipartisan bill was introduced into congress which could see u. S. Sanctions imposed on European Companies and individuals involved in north st 2 totally unacceptable says the german gas lobby you dont have such a tightened and rich reactive sanctions law would be an unacceptable encroachment on the e. U. Sovereignty and Energy Security of western europe the problem for the United States is that their product liquefied natural gas is more expensive for the european markets and washington wielding sanctions like a club with which to be those that dont do as theyre told is hardly going to win friends and influence people in european capitals these are all of a boom bust. And now to a little bit of news out of the world of sports last weekend the n. F. L. Is Washington Redskins announce the team would undergo a quote thorough review of the teams name a big criticism that the name is racist toward native americans now the latest upward over the name comes amid social unrest within the United States but the mascot has been at the center of controversy for decades the teams owner dan snyder who bought the team in 1909 previously said he would never change the teams day so why now are we seeing this review well maybe due to the major n. F. L. Sponsors like nike and pepsi getting pressure from investors to cut ties with the team unless they change the name fedex which actually owns the naming rights to the team stadium also received pressure and issued a one sentence statement saying we have communicated to the team in washington our request. That they changed the team name while target and walmart have stopped selling the teams gear in their stores and nike has also removed branded merchandise for the redskins from their store as well meanwhile and theyll be a franchise the Cleveland Indians has also started a review of their name so lets go ahead and talk about the dollars and says the Decision Making with Victor Matheson a professor of economics at the college of the holy cross with an expertise in Sports Economics thank you so much for joining us today mr matheson or professor matheson as it were and now these calls to for the Washington Redskins and cleveland in the indians to change their name go back years in fact the indians dont even use chief wahoo that logo generally anymore and ownership it has been very reluctant what will these sponsors threatening to take away revenue especially the stadium sponsor in the redskins situation actually move teams to change it and really how much money is at stake here. So thats the real question right. Its expensive to change a mascot so people are obviously concerned about that it might cost a team maybe 10000000. 00 in terms of changing signage paying for developing a new mascot but thats something but remember thats that small amounts of money when talking about a team like the like the washington n. F. L. Team that generates about 500000000. 00 a year in revenue so what the teams are really worried about here is whether long time fans will leave the team if the name is changed. Words or are unfounded if we look at the history of for example college teens who changed their names over the last 20 years again mainly means using indigenous native american language but thats still the worry of the owners like. And now it is a good point to make that the washington and f. L. Team is actually i believe the 5th or 6th most valuable in the n. F. L. Despite what has been a good couple of years on the football field thats for. Sure now do you think that well see or if we were to see more importantly a full boycott from some of these sponsors because thats where the n. F. L. Really is making the money if we see a full boycott from from some major sponsors like pepsi saying were not going to spend any money is that kind of move the needle a little bit more because it is really going to hit that bottom line. So if any Major National sponsors pull the plug that puts pressure on the the Washington Owner from the rest of the teams there because thats money that shared by the league as a whole i think however the Biggest Issue here was when fed ex said that they were going to request the name to change because remember fed ex is the stadium sponsor of the mini right sponsor of where the washington d. C. Always. Thats money that goes directly into dan snyders pockets and doesnt get shared throughout the rest of the league so if they were to hold out that thats a naming rights deal oh well over 10000000. 00 a year thats the sort of thing that really hurts and no matter how much dan snyder wants to hold on to that that name. You know. 10000000 dollars 20000000 dollars a year of local funding there thats where for sure thats the sort of thing that moves. And now we also should know i mean as you said they always say like will people come along well frankly it in washington d. C. There is a Basketball Team in the Washington Wizards well they actually had to change their name from the washington bullets if youre not familiar so this isnt an unfounded situation like you said there are a lot of situations they give americans a College Sports as well but but shouldnt this actually be heavily embraced by this ownership investors in the team and really the leagues because of the a massive amounts of money that Merchandise Sales will make with renewed interest in these teams. Right this is what never made sense to me at all is that if you look throughout europe for example in now on soccer teams they will change the style of their jersey every year or every other year at the very least because again thats an entirely new generation of people who have to buy up the merchandise so you know again you do worry about some people who say i will never go back but thats really a minority of all fans what you do get is. Huge number of people who 1st of all will clamor to buy the last of the remaining 6 when theyre there of course will buy them you want to make a mint really that should be a bonanza not something to wear and of course dont forget 3 to 4 years down the road then we have throwback jerseys that were going to have the Washington Redskins may come back and frankly it doesnt sound like anybody going to stop you from going into the stadium if you still have a redskins jacket because that may be all you can afford or Something Like that now i want to hit on one more point before we we do go here july is going to mark the return of 3 of the 4 major leagues here in the u. S. The n. F. L. Doesnt obviously start until the fall but this is about the bottom line is Getting Started but what happens if these leagues are forced to shut down again every Single League that were seeing in the in baseball in the m l b the n. B. A. And the n. H. L. Theyre all actually seeing you know positive tests of covert so its hard to say that this is going to continue is this going to be a real problem moving forward as they try to finish out their seasons. I was going to be huge problem now mind you im not that kind of doctor writing to but weve already seen Major League Soccer right moving back in as well as the National Womens Soccer League they were the 1st movers here in the u. S. Already they had game cancelled last night between the chicago fire and their opponent because again the positive. Virus dels burn moved out of its moved out of. Its participation for Major League Soccer in the orlando team dropped out of the National Womens Soccer League tournament so the fact is every lead thats trying to do this in the United States has had to stop has had problems Going Forward and its hard to believe based on the virus numbers were sitting especially throughout the south that this is not going to you know its going to be very very hard for these leagues i mean and thats exactly what were thinking is i mean if you think if you look at if youre testing all of these people whether theyre in a bubble or not in frankly i mean sadly not everybody is going to take it as serious as they need to and this could really cost these leagues a lot of money in the end of Victor Mattson professor of economics at the college of the holy cross thank you so much for joining us today. Well thank you for having me. And thats it for this time you can catch boom bust on demand on the brand new portable t. V. Up a billable on smartphones and tablets through google play on the Apple App Store by searching portable t. V. Portable t. V. Can also be downloaded on newer models of Samsung Smart t. V. s as well as broken devices or something just go to portable t. V. See you next that. Some were sisters who. Sued shes going to be named christmas. You may. Remember if you just came up with a ticket did you hear that oh. Im talking is a very international community. Media used to try to play. List of people is this the stuff that i need to eat. Or the position that the world used to look at the business for their Nuclear Cooperation the im told to go is everything produced polluted with the forms of t. V. With the above the. Time they have and with the fact of the day i decided not to take this life. With my gig and tell you that. Time after time corporations repeat the same mantra sustainability its very important to accelerate transitions just as. It will transport sustainability. More equitable and sustainable well. They claim that production is completely harmless. Its because. Companies want us to feel good about products while the damage is being done far away this isnt just as deep into anyones i need much. Since i moved. On this its a good. 54 jets and more than 1300 military personnel are headed to heal some air force base in alaska where is that to say come on ill show you whats the reason for any type of enhanced u. S. Military presence in this area rush up. What is it suddenly about the South China Sea that makes it so that it 11000000000 barrels of oil. Take a look at this map who really owns what kind of says no it belongs to us india says no we claim that that belongs to us both of these countries have Nuclear Weapons capabilities there is reason for concern so thats why were going to drill down on this story for you today right here on the news or direction as where you know as we always like to say we do believe by golly its time to do news again. Max kaiser this is the kaiser reporting no french philosopher voltaire said a lot of smart stuff like the value of all paper money eventually gets to its Intrinsic Value 0 smart guy right yet a lot of other smart things to say right stacy well he does say those who can make you believe absurdities can make you commit atrocities and to this max keiser responded to me on twitter when i tweeted that quote from voltaire he said voltaire was talking about cooking with this quote like if you believe you can serve red wine with fish then you will pour ketchup on a cost