Transcripts For RT Boom Bust 20240712 : comparemela.com

Should not be ended as fast or as abruptly as they are 1 then what is the actual trade here and florida unfortunately heres what i wish we could report right if you were in a Perfect World you and i would go on the air today and say the surge of cases. Of coal that my team are down oh and by the way employment is up yeah unfortunately we only are able to attach ourselves to half of that story which is employment is looking like its starting to go up by the way and when we say you know comparatively speaking because yeah better. Lets not lets not set off as my mother would say any fireworks yet but if were playing with. A little tiny bit but were still seeing kobe 1000 cases go up in places like florida then you know most Health Experts would say its not a good tradeoff. Some economists would say ok politicians depending on their party would say yeah we love that lets keep doing it so thats kind of whats going on right now in places like florida and arizona and others its a little bit of a glimmer of a hope but still that volatility that were going to see in the markets and many people are still expecting employment rate to still go down even more people are still going to be losing their jobs we have to remember that a lot of places arent even open at 100 percent capacity nor will they be in the next year or 2 rick i want to read you a headline from the wall street journal here it reads harris joins by it and take it wall street sighs in relief arent the democrats opposed to be the party that holds big corporations accountable and in check here at least thats what they base their platform on at this point no matter who wins in november are we going to see a big divide in the divide continue between wall street and the average american. Well 1st of all the idea that the democrats are supposed to hold wall street accountable and the republicans are not or that the republicans are supposed to be more apt to get us into wars than the democrats are i could go on and on with this game but those rules are only effective today in if you go back in a time machine to like the 1950 s. And sixtys or if youre living in the planet jupiter in other words thats not the case anymore essentially republicans and democrats are the same party when it comes to dealing with these kinds of things and as far as what were looking at ahead sarah i think you may have just alluded to that you know theres still a real question about whats going to happen when a lot of these helicopter money as we like to call it when a lot of these Government Programs and i mean when forbearance and i mean ive got some forbearance numbers here that are going to blow you away 5100000 americans have asked for forbearance i mean the best to not pay their their mortgages right right 800. 90000000000. 00 in unpaid principal let me say that enough kid there is right now in the United States 890000000000. 00 in unpaid principal that means 890000000000. 00 of people who have not paid their mortgages and thats the nub right whats missing 64 percent im sorry i misspoke 6. 4 percent of fannie mae mortgagees are paying 11 percent of h. A v. A. Mortgagees are not paying so whats going to happen when this forbearance sends whats going to happen when people have to make their tenants pay their rent whats going to happen when people have to pay their mortgages and whats going to happen with that 400 dollars of was supposed to be 600. 00 which now is only going to come through the states agree with the white house to actually go through with it doesnt happen or is delayed now these are all things that were seeing now that could happen within the next month if those things happen within the next month these rosy numbers that were seeing which as you alluded to arent so rosy they could certainly get a lot darker and they definitely can because like you said those 300 actually it will the 400 turned into 300 because thats only what the federal government will provide the 100 will have to come from the state if the state even agrees to fund them which who knows whether the states are going to get this money from to to give these Unemployed People the extra 100. 00 rick you spoke of Mortgage Rates a little bit President Trump signed an executive order actually asking extending that of action that i want to play you a sound bite of what he said earlier this week. Were stopping evictions were stopping of actions were not to let that happen and also were not going to people were not going to let people the democrats maybe they dont care but i care and we signed an executive order for you know executive order you know that right and were not letting people be evicted this is ok many groups here are saying the order actually doesnt provide interactive for anyone to stop them im going to read you a quote of what that executive order we need to identify available federal funds that could provide temporary Financial Aid for struggling run turns and homeowners rick. This is this is preposterous what the president is saying this is a Law Enforcement issue its not a white house deal its not really even a political deal unless they are able to come up with some portion of money here lets make this more rudimentary lets just call this rick and sarah right so rick and sarah are landlords right they have 3 homes and they have it rented out to 3 families in east l. A. Or hialeah florida or phoenix arizona wherever and all of a sudden we have realized that our tenants are not paying us now the Government Program is over the assistance to homeowners whove lost their jobs that would be me and you perhaps is over so youre telling me i have no assistance i have no job i have no income i have no forbearance and somehow i have to let those people live on my properties for free says who the president or nancy pelosi you know it just doesnt add up i mean its a great political speech but in the end you know you have to you have to do x. s and os right you have to do what the money says and if the big should notices are dealt by Police Departments which is what usually the. People the sheriffs offices all over the United States county offices that usually handle these things i cant see you are a politician in washington or anywhere else for that matter can tell the policymakers or the prosecutors in any particular county whats happening they have to stop doing their job right under what law and under what mandate and what assistance are sarah and rick going to get to be able to pay their bills and thats a rough part overseeing families appen the families you see a lot of people migrating a lot of people leaving for example manhattan there are a lot of millennial as are certain generations that are moving back in with their parents to save on it because they lost their jobs they cant afford rent either those are the lucky ones who have somewhere to go and a home that they can go to rick you mentioned government aid a little bit ago lets go into some sectors here and really whats driving the markets what are some you see barely surviving those who are thriving then those who are just going to be kicked to the curb because theyre basically dying or have already collapsed i mean the government wants to help but they cant bail out every single sector. Well some of it is surprising and some of it is obvious you and i were on the phone earlier this morning talking and sharing ideas about whats going on with the economy and i think one of us mentioned that you dont need a degree in economics from the university of pennsylvania or any other Prestigious School to be able to figure out whats going on you just need to get your car and drive around and youre going to see it the interesting thing is homes are selling like hotcakes 1000000 explanations for it were not going to get into it thats for another segment cars selling like hotcakes they cant keep them on the lot apparently when they stopped making cars in the in the world for 2 months the inventory was depleted and now everybody has a high demand form and i think for a long time people were bored. And they were shopping for cars thinking they werent going to buy one but at least they could look and they ended up being convinced that they could actually lower their payments if they got into a new car so whatever of. Health care huge sector right now and some of the reasons are obvious managed care something i know a little bit about is doing very well because it essentially is designed to protect people over the age of 65 who are the people right now who are more apt to get hit with overnight team people over the age of 65 so thats kind of walked in and then of course anybody having anything to do with. You know the treatment and obviously the vaccine the problem of course is that heres the obvious one man if you ever want to buy clothes cheap go because retail right male adults people are shopping people are going on sale sales settles yeah you know that could be a transformational thing that was already going on protocol that mode team would go but my team is just stuck that dagger man in that balloon and now it looks like i dont see that sector coming back and like you should rent in places like new york city where people have to be in elevators and go on higher floors forget about it good luck trying to run you know high rise over the next 5 years and i wonder how long it will be before prices prices are mortgages go down in manhattan obviously thats going to take years before we see Something Like that but even here in the Nations Capital some apartments their rents have gone significantly down so it really is interesting to see how all this plays out that was rick sanchez host of the news that rick sanchez always a pleasure thanks again for making time to be with us today thanks to. The u. S. Announced it will hold off on its plan to impose additional tariffs on the European Union in june the u. S. Threatened duties on a 3100000000. 00 worth of goods which now they say theyll hold off on while the u. S. Will keep the 7500000000. 00 tax that was issued late last year on good touches whiskey wine cheese and even olives last year the u. S. Already raise tariffs on more than 100 items including single malt whiskey isnt even. One well u. S. Trade representative robert light hisor said the e. U. And Member States have not taken the actions necessary to come into compliance with w t o decisions going on to say the United States however is committed to obtaining a long term resolution to this dispute well the move comes as both countries they attempt to and that 16 year trade battle over the subsidies for the playmakers of airbus and boeing before we are joined by Hilary Hilary thank you so much for being here we really appreciate you coming on to talk about this lets start with the obvious question here the trumpet ministration said it will be dropping some tariffs of goods from greece and some from the u. K. Including certain greek and german cheeses but theyre adding tariffs to other goods like popular fruit jams from france and germany why the move here will serve you right to absolutely about everything you said about the there are some people in the u. K. Of course was celebrating the fact that shortbread is no longer going to sort of penalize with the tower of sand so there are those across europe that are celebrating and those of course that are being hit hard the reason for this is really because of the stance of washington takes on a number of issues the french have been threatening for quite some time and theres a lot of talk about this digital global tax which would drastically affect u. S. Tech companies so this is punishment for sort of that move for the french and in terms of the germans you know the president has really been very good to calling out those european nations that have not met the nato support percentage that they were supposed to or the european nations that are protected by nato are supposed to contribute 2 percent of the g. D. P. The germans dont even really come close to one percent so that is what this is about is really punishing the french and the germans not really an issue to do with jam it is that they happen to be the major producers of jam and also the president and his trade representative lighthouse are in negotiations with the u. K. Trade secretary at the moment so what hes trying to do is to. Really sort of soften and work that deal with the u. K. Meanwhile i think its a good thing to make sure that those European Countries that have not met their contribution to nato they should be doing so and this isnt this year this isnt last year this is been going on basically since the 2nd world war and trump is the 1st president to really call that out on the half of the American Public and the american taxpayer or hillary if there was a bipartisan push actually a group of senators here in the u. S. Who asked the trade Representatives Office to remove all of the tariff that were imposed last year they noted that important scotch whiskey fell nearly 33 percent i mean these countries are already being hit pretty badly by the pandemic what it not be wise to just remove them yeah actually youre right about that bipartisan bill is a but no its not a bipartisan approach is actually a letter to the u. S. T. R. U. S. Trade representatives and i think a couple of things 1st of all we must all say i dont know of anybody who wouldnt say that having 7 republican and 6 Democratic Senators unite on anything is wonderful so there is a lot of bipartisan support for this what theyre really stalking about is that talk about specifically actually the liquors unwinds in a lot of european products youre totally right they want the tower lifted i think 2 things here number one theyre right because there is a huge stockpiling all over all of these products and thats really due to code 19 of course the Restaurant Industry has been you know obviously pummeled its projected that 85 percent of independently owned u. S. Restaurants are going to file for bankruptcy and be out of business so theres a stockpiling all these goods from europe and thats why i think the senators from across the nation on both parties both sides of the obvious parties have raised this issue which i do think is an issue however we need to have a trading stance and we need to make sure that you know europe realizes that some of these things that theyre undertaking as well as you know contributing to nato i think that weve. Have to stand by our principles and see these tyrants through so that we can make positive change for the long run not the short term. Is that hes prepared to star negotiations to talk to does not term of all of the tariffs already in place and even in late july airbus actually said that it reached an agreement to pay the interest of the french and spanish governments for the funds that were used to develop its long haul 8350 jets and the u. Commission says that theres no reason now that the tariffs should even remain now the e. U. And that theyre going to tell you on their own because that according to that they can thats not coming till this fall how bad could it get here youre right about the autumn the fall in america i think what youre going to see is youre going to see that if we pursue and continue to pursue these tie ups you will see them imposed from europe however what i would say is that currently the is pretty much in dire straits their economy has suffered way more than we have all the u. S. Economy and g. D. P. Has not suffered nearly as much as those countries across europe so i think what you will find is they really want to do business with the u. S. And i think by the fall by this fall by autumn you will see a relaxation of tower of if the french relax their stance on that digital tax and if the germans do step up for their contribution to nato thats what it takes and i think there will be pressure from the Restaurant Industries across europe as well and also that dont get tourism is being hit drastically to some a lot of reports about the tourism numbers being down a bit tricky because of all the nordic countries in the u. K. Of course they cant travel south to the countries and i think youre going to see that pressure from the European Countries to work with the u. S. Issues the holding back an agreement and recent reman dont forget dont forget the issue with their boss this is been going on for 16 years as a president right as the 1st to really try to move the needle 6 years is a very long time and we definitely dont want to see another trade war we had enough with the u. S. Trying to trade war and with this pandemic really is. Offering hillary for a witch of the British American Business Association thanks for making time for us and being with us today thank you sarah pleasure. Time now for a quick break stay here because when we return 6 months ago the United States and china were praising phase one of their trade deal but now we may be at a new low in relations between the 2 countries break it down with the dean of Miami Harvard Business School as we go to break show the numbers up but. As the u. S. Economy was booming gaining numbers of people when they need us. You can work 40 hours in a week and still not have enough to get housing everybody believes america still is the leader of opportunity the reality of it isnt it were not financially equality and the lack of Affordable Housing for a living minimum wage gave many people new choice though theres been a problem with the city knows turn to the rich and told me stay away i know miss colton since if this will do that there is no answer because yes the reports at least thats the most vulnerable are abandoned on the streets to become invisible cliques. Seem wrong why dont we all just dont all. Get to shape our disdain comes to educate and indeed trade equals betrayal. When so many find themselves worlds apart if we choose to look for common ground. I dont meet those goals you know some of my Perfect World<\/a> you and i would go on the air today and say the surge of cases. Of coal that my team are down oh and by the way employment is up yeah unfortunately we only are able to attach ourselves to half of that story which is employment is looking like its starting to go up by the way and when we say you know comparatively speaking because yeah better. Lets not lets not set off as my mother would say any fireworks yet but if were playing with. A little tiny bit but were still seeing kobe 1000 cases go up in places like florida then you know most Health Experts<\/a> would say its not a good tradeoff. Some economists would say ok politicians depending on their party would say yeah we love that lets keep doing it so thats kind of whats going on right now in places like florida and arizona and others its a little bit of a glimmer of a hope but still that volatility that were going to see in the markets and many people are still expecting employment rate to still go down even more people are still going to be losing their jobs we have to remember that a lot of places arent even open at 100 percent capacity nor will they be in the next year or 2 rick i want to read you a headline from the wall street journal here it reads harris joins by it and take it wall street sighs in relief arent the democrats opposed to be the party that holds big corporations accountable and in check here at least thats what they base their platform on at this point no matter who wins in november are we going to see a big divide in the divide continue between wall street and the average american. Well 1st of all the idea that the democrats are supposed to hold wall street accountable and the republicans are not or that the republicans are supposed to be more apt to get us into wars than the democrats are i could go on and on with this game but those rules are only effective today in if you go back in a time machine to like the 1950 s. And sixtys or if youre living in the planet jupiter in other words thats not the case anymore essentially republicans and democrats are the same party when it comes to dealing with these kinds of things and as far as what were looking at ahead sarah i think you may have just alluded to that you know theres still a real question about whats going to happen when a lot of these helicopter money as we like to call it when a lot of these Government Programs<\/a> and i mean when forbearance and i mean ive got some forbearance numbers here that are going to blow you away 5100000 americans have asked for forbearance i mean the best to not pay their their mortgages right right 800. 90000000000. 00 in unpaid principal let me say that enough kid there is right now in the United States<\/a> 890000000000. 00 in unpaid principal that means 890000000000. 00 of people who have not paid their mortgages and thats the nub right whats missing 64 percent im sorry i misspoke 6. 4 percent of fannie mae mortgagees are paying 11 percent of h. A v. A. Mortgagees are not paying so whats going to happen when this forbearance sends whats going to happen when people have to make their tenants pay their rent whats going to happen when people have to pay their mortgages and whats going to happen with that 400 dollars of was supposed to be 600. 00 which now is only going to come through the states agree with the white house to actually go through with it doesnt happen or is delayed now these are all things that were seeing now that could happen within the next month if those things happen within the next month these rosy numbers that were seeing which as you alluded to arent so rosy they could certainly get a lot darker and they definitely can because like you said those 300 actually it will the 400 turned into 300 because thats only what the federal government will provide the 100 will have to come from the state if the state even agrees to fund them which who knows whether the states are going to get this money from to to give these Unemployed People<\/a> the extra 100. 00 rick you spoke of Mortgage Rates<\/a> a little bit President Trump<\/a> signed an executive order actually asking extending that of action that i want to play you a sound bite of what he said earlier this week. Were stopping evictions were stopping of actions were not to let that happen and also were not going to people were not going to let people the democrats maybe they dont care but i care and we signed an executive order for you know executive order you know that right and were not letting people be evicted this is ok many groups here are saying the order actually doesnt provide interactive for anyone to stop them im going to read you a quote of what that executive order we need to identify available federal funds that could provide temporary Financial Aid<\/a> for struggling run turns and homeowners rick. This is this is preposterous what the president is saying this is a Law Enforcement<\/a> issue its not a white house deal its not really even a political deal unless they are able to come up with some portion of money here lets make this more rudimentary lets just call this rick and sarah right so rick and sarah are landlords right they have 3 homes and they have it rented out to 3 families in east l. A. Or hialeah florida or phoenix arizona wherever and all of a sudden we have realized that our tenants are not paying us now the Government Program<\/a> is over the assistance to homeowners whove lost their jobs that would be me and you perhaps is over so youre telling me i have no assistance i have no job i have no income i have no forbearance and somehow i have to let those people live on my properties for free says who the president or nancy pelosi you know it just doesnt add up i mean its a great political speech but in the end you know you have to you have to do x. s and os right you have to do what the money says and if the big should notices are dealt by Police Departments<\/a> which is what usually the. People the sheriffs offices all over the United States<\/a> county offices that usually handle these things i cant see you are a politician in washington or anywhere else for that matter can tell the policymakers or the prosecutors in any particular county whats happening they have to stop doing their job right under what law and under what mandate and what assistance are sarah and rick going to get to be able to pay their bills and thats a rough part overseeing families appen the families you see a lot of people migrating a lot of people leaving for example manhattan there are a lot of millennial as are certain generations that are moving back in with their parents to save on it because they lost their jobs they cant afford rent either those are the lucky ones who have somewhere to go and a home that they can go to rick you mentioned government aid a little bit ago lets go into some sectors here and really whats driving the markets what are some you see barely surviving those who are thriving then those who are just going to be kicked to the curb because theyre basically dying or have already collapsed i mean the government wants to help but they cant bail out every single sector. Well some of it is surprising and some of it is obvious you and i were on the phone earlier this morning talking and sharing ideas about whats going on with the economy and i think one of us mentioned that you dont need a degree in economics from the university of pennsylvania or any other Prestigious School<\/a> to be able to figure out whats going on you just need to get your car and drive around and youre going to see it the interesting thing is homes are selling like hotcakes 1000000 explanations for it were not going to get into it thats for another segment cars selling like hotcakes they cant keep them on the lot apparently when they stopped making cars in the in the world for 2 months the inventory was depleted and now everybody has a high demand form and i think for a long time people were bored. And they were shopping for cars thinking they werent going to buy one but at least they could look and they ended up being convinced that they could actually lower their payments if they got into a new car so whatever of. Health care huge sector right now and some of the reasons are obvious managed care something i know a little bit about is doing very well because it essentially is designed to protect people over the age of 65 who are the people right now who are more apt to get hit with overnight team people over the age of 65 so thats kind of walked in and then of course anybody having anything to do with. You know the treatment and obviously the vaccine the problem of course is that heres the obvious one man if you ever want to buy clothes cheap go because retail right male adults people are shopping people are going on sale sales settles yeah you know that could be a transformational thing that was already going on protocol that mode team would go but my team is just stuck that dagger man in that balloon and now it looks like i dont see that sector coming back and like you should rent in places like new york city where people have to be in elevators and go on higher floors forget about it good luck trying to run you know high rise over the next 5 years and i wonder how long it will be before prices prices are mortgages go down in manhattan obviously thats going to take years before we see Something Like<\/a> that but even here in the Nations Capital<\/a> some apartments their rents have gone significantly down so it really is interesting to see how all this plays out that was rick sanchez host of the news that rick sanchez always a pleasure thanks again for making time to be with us today thanks to. The u. S. Announced it will hold off on its plan to impose additional tariffs on the European Union<\/a> in june the u. S. Threatened duties on a 3100000000. 00 worth of goods which now they say theyll hold off on while the u. S. Will keep the 7500000000. 00 tax that was issued late last year on good touches whiskey wine cheese and even olives last year the u. S. Already raise tariffs on more than 100 items including single malt whiskey isnt even. One well u. S. Trade representative robert light hisor said the e. U. And Member States<\/a> have not taken the actions necessary to come into compliance with w t o decisions going on to say the United States<\/a> however is committed to obtaining a long term resolution to this dispute well the move comes as both countries they attempt to and that 16 year trade battle over the subsidies for the playmakers of airbus and boeing before we are joined by Hilary Hilary<\/a> thank you so much for being here we really appreciate you coming on to talk about this lets start with the obvious question here the trumpet ministration said it will be dropping some tariffs of goods from greece and some from the u. K. Including certain greek and german cheeses but theyre adding tariffs to other goods like popular fruit jams from france and germany why the move here will serve you right to absolutely about everything you said about the there are some people in the u. K. Of course was celebrating the fact that shortbread is no longer going to sort of penalize with the tower of sand so there are those across europe that are celebrating and those of course that are being hit hard the reason for this is really because of the stance of washington takes on a number of issues the french have been threatening for quite some time and theres a lot of talk about this digital global tax which would drastically affect u. S. Tech companies so this is punishment for sort of that move for the french and in terms of the germans you know the president has really been very good to calling out those european nations that have not met the nato support percentage that they were supposed to or the european nations that are protected by nato are supposed to contribute 2 percent of the g. D. P. The germans dont even really come close to one percent so that is what this is about is really punishing the french and the germans not really an issue to do with jam it is that they happen to be the major producers of jam and also the president and his trade representative lighthouse are in negotiations with the u. K. Trade secretary at the moment so what hes trying to do is to. Really sort of soften and work that deal with the u. K. Meanwhile i think its a good thing to make sure that those European Countries<\/a> that have not met their contribution to nato they should be doing so and this isnt this year this isnt last year this is been going on basically since the 2nd world war and trump is the 1st president to really call that out on the half of the American Public<\/a> and the american taxpayer or hillary if there was a bipartisan push actually a group of senators here in the u. S. Who asked the trade Representatives Office<\/a> to remove all of the tariff that were imposed last year they noted that important scotch whiskey fell nearly 33 percent i mean these countries are already being hit pretty badly by the pandemic what it not be wise to just remove them yeah actually youre right about that bipartisan bill is a but no its not a bipartisan approach is actually a letter to the u. S. T. R. U. S. Trade representatives and i think a couple of things 1st of all we must all say i dont know of anybody who wouldnt say that having 7 republican and 6 Democratic Senators<\/a> unite on anything is wonderful so there is a lot of bipartisan support for this what theyre really stalking about is that talk about specifically actually the liquors unwinds in a lot of european products youre totally right they want the tower lifted i think 2 things here number one theyre right because there is a huge stockpiling all over all of these products and thats really due to code 19 of course the Restaurant Industry<\/a> has been you know obviously pummeled its projected that 85 percent of independently owned u. S. Restaurants are going to file for bankruptcy and be out of business so theres a stockpiling all these goods from europe and thats why i think the senators from across the nation on both parties both sides of the obvious parties have raised this issue which i do think is an issue however we need to have a trading stance and we need to make sure that you know europe realizes that some of these things that theyre undertaking as well as you know contributing to nato i think that weve. Have to stand by our principles and see these tyrants through so that we can make positive change for the long run not the short term. Is that hes prepared to star negotiations to talk to does not term of all of the tariffs already in place and even in late july airbus actually said that it reached an agreement to pay the interest of the french and spanish governments for the funds that were used to develop its long haul 8350 jets and the u. Commission says that theres no reason now that the tariffs should even remain now the e. U. And that theyre going to tell you on their own because that according to that they can thats not coming till this fall how bad could it get here youre right about the autumn the fall in america i think what youre going to see is youre going to see that if we pursue and continue to pursue these tie ups you will see them imposed from europe however what i would say is that currently the is pretty much in dire straits their economy has suffered way more than we have all the u. S. Economy and g. D. P. Has not suffered nearly as much as those countries across europe so i think what you will find is they really want to do business with the u. S. And i think by the fall by this fall by autumn you will see a relaxation of tower of if the french relax their stance on that digital tax and if the germans do step up for their contribution to nato thats what it takes and i think there will be pressure from the Restaurant Industries<\/a> across europe as well and also that dont get tourism is being hit drastically to some a lot of reports about the tourism numbers being down a bit tricky because of all the nordic countries in the u. K. Of course they cant travel south to the countries and i think youre going to see that pressure from the European Countries<\/a> to work with the u. S. Issues the holding back an agreement and recent reman dont forget dont forget the issue with their boss this is been going on for 16 years as a president right as the 1st to really try to move the needle 6 years is a very long time and we definitely dont want to see another trade war we had enough with the u. S. Trying to trade war and with this pandemic really is. Offering hillary for a witch of the British American<\/a> Business Association<\/a> thanks for making time for us and being with us today thank you sarah pleasure. Time now for a quick break stay here because when we return 6 months ago the United States<\/a> and china were praising phase one of their trade deal but now we may be at a new low in relations between the 2 countries break it down with the dean of Miami Harvard<\/a> Business School<\/a> as we go to break show the numbers up but. As the u. S. Economy was booming gaining numbers of people when they need us. You can work 40 hours in a week and still not have enough to get housing everybody believes america still is the leader of opportunity the reality of it isnt it were not financially equality and the lack of Affordable Housing<\/a> for a living minimum wage gave many people new choice though theres been a problem with the city knows turn to the rich and told me stay away i know miss colton since if this will do that there is no answer because yes the reports at least thats the most vulnerable are abandoned on the streets to become invisible cliques. Seem wrong why dont we all just dont all. Get to shape our disdain comes to educate and indeed trade equals betrayal. When so many find themselves worlds apart if we choose to look for common ground. I dont meet those goals you know some of my Friends School<\/a> jane dish if youre maybe its last dying for a mouse you are going by each node the. Moment it gives us. Our life. Change or not our lives are changed. The spring garments this. Fall. For each of those summed up in the early nineties seventies helmet a psychologist 6 only just proposed to the west but incentive to social experiment wanted to live paedophiles and neglected boys experiment was a. Good model. For almost one year old. Girl to believe that sex with older men would help with the boys socialization over 30 years many children were handed paedophiles to raise the buddhist mentioned to christians a little hurt more than the logs and over those 2 words looking for a loop in the promotion belief what the answer should be mr hope all good mr 130 over. It was just 6 months ago when virtually every single headline surrounding the u. S. And china focused on face one of the trade deal now only 6 months later not only is a trumpet ministration saying that china is nala being up to its end of the trade deal by. U. S. Turner relations are at their lowest point in decades well joining us now to discuss the Harvard Business<\/a> school. And boom bust cohost and investigative journalist ben swan ben lets start with a breakdown of the back and forth between the United States<\/a> and china over this trade deal whats the traffic ministration saying about chinas failure to keep up their end of the deal sara obviously this is a huge issue for the u. S. And china but remember all the way back 6 months ago we actually talked about this very issue on this show and we talked about the fact that china at the time was agreeing to buy far more imports from the United States<\/a> than we thought they would actually be able to buy it was a very generous on the chinese part however having said that if we take a look at the numbers between january and july of this year we are seeing a significant change in terms of what the chinese promise to do versus what theyre actually doing in fact consider the fact that 3. 5 percent of imports are down compared to where they were just a year ago if i take a look at these numbers here because if you look at what we have here in 2020 purchasing was 63900000000 more manufactured agricultural an Energy Products<\/a> thats what they promised as well as 12800000000 more Services Compared<\/a> 227000 levels in 2021 they were buying 98200000000 of goods thats what they promised to do from those 3 categories and 21500000000 in services on top of the 27000 levels but if you look at the 1st half of this year again this is january into july theyre sure by more than have only about 30 to 40 percent of those commitments have actually been fulfilled well. What about the issue did both the us and china go into a phase one deal with Unrealistic Expectations<\/a> on what the chinese would be importing from the u. S. I mean ben went through some of the numbers. Well the deal of course was pretty covert and what the deal said was that china in 20202021 would buy 200000000000. 00. Dollars extra of u. S. Goods and services on top of the 22017. 00 purchase level and that was distributed 77000000000. 00 extra in 202123 1000000000 extra in 2021 next year so obviously as ben said with covais would its been impossible for china to ramp up its purchases the fact that its only down 3. 5 percent you know it strikes me as being not that bad a result given the level of disruption and it is true that china has done a pretty good job in purchasing Agricultural Products<\/a> but for Example Energy<\/a> related products away below where they were supposed to be i do think though if there is a v. Shaped recovery in china which is still a possibility for the 2nd half of the year and if the u. S. Comes back in 2021 its possible to make up the lost ground is definitely possible and much like you said theyre surprised because this is the one thing that thats still kind of holding on by a thread here between the united think that china the dean quality and terms of this macro issue here that were looking at the u. S. Going at to visit taiwan to help build that relationship what do you make of this move by the by the u. S. To kind of shore up its relationship with taiwan at a moment what tensions with china are so high taiwans afraid that theyre going to be the next hong kong. Well of course there is as i think a division of opinion within taiwan on that issue there is certainly one part of the electorate is very welcoming of u. S. Support in another part of the electorate that sees its future more aligned in accommodation with china secretary aizawa is in taiwan. And part of the reason for justifying that visit i think is that taiwan has done a pretty good job with respect to coping with covais it taiwan is not a player in the World Health Organization<\/a> but could be and an ascent should be based on its performance and dealing with cove it so theres an opportunity here for the health and Human Services<\/a> secretary to make a point about. The same time as pushing perhaps for their admission into the w. H. O. I do believe however that has been very careful in referring to taiwan as being a jurisdiction rather than as a separate country right well as continue to need to do so but were going to continue to follow this these tensions because theyre probably not going anywhere dean of the Miami Harvard<\/a> Business School<\/a> and the west coast and investigative journalist benson thank you both for your time. Thats all the time we have for today but well see you next time. The demick no certainly no borders and is blind to nationalities. Has emerged little to with certainty we dont like seeing the whole world needs to be. Judged as coming close to sleep sometimes. We can do better we should be. Everyone is contributing each of our own way but we also know that this crisis will not go on forever the challenges created the response has been must so many good people are helping us. It makes us feel very proud that we are in it together. The sudden fullest and illegal takeover of a government by a small group. Rather than revolutionaries all soldiers could have small groups the corporations when you have a tiny group of people who have all the power you have to have some means to make sure that the best dont get together and take it back. These are sacrificed some places that capitalism exploited and destroyed for profit and left behind misery poverty environmental devastation and so you see things like Voter Suppression<\/a> building more prisons you seem gerrymandering all sorts of undemocratic practices for wealthy elites of that world for well over the world and theres no question that the. Israel media a reflection of reality. In the world transformed. What will make you feel safe from. The isolation community. Are you going the right way or are you being. Direct. What is true what is faith. In the world corrupted you need to descend. To join us in the depths. Of the shallows. So what weve got to do is identify the threats that we have its crazy confrontation let it be an arms race. Spearing Dramatic Development<\/a> only personally im going to resist i dont see how that strategy will be successful its very critical time to sit down and talk. The headlines in r. T. Bettery starts to release people who took to the streets after sundays disputed president ial election amid claims of Widespread Police Brutality<\/a> towards detainee we hear from a doctor who was jailed. As it was the women were lying on the floor and the men were in the next hour they were constantly beat him so badly just how long the. Palestine denounces the u. S. Brokered peace deal between israel and the United Arab Emirates<\/a> which under which television will suspend for its planned. For the west bank and tensions spike in the mediterranean are france says it will bolster its military presence there to monitor turkeys","publisher":{"@type":"Organization","name":"archive.org","logo":{"@type":"ImageObject","width":"800","height":"600","url":"\/\/ia803201.us.archive.org\/22\/items\/RT_20200814_103000_Boom_Bust\/RT_20200814_103000_Boom_Bust.thumbs\/RT_20200814_103000_Boom_Bust_000001.jpg"}},"autauthor":{"@type":"Organization"},"author":{"sameAs":"archive.org","name":"archive.org"}}],"coverageEndTime":"20240716T12:35:10+00:00"}