Transcripts For RT Boom Bust 20240712

Friday to us special coverage of the election please join us then have a great day. This is boom bust the one business show you cant afford to miss branch a bore in washington coming up with a 3 day into the storm to december. As another wave of coping 1000. 00 infection slams europe the United Kingdom will reimpose a Major National lockdown straight ahead we take you across the atlantic for the latest plus as the u. S. Election campaign nears an end we take a look back at the horse race and the big dollars that fund it we have a packed show today so lets dive right in. And we lead the program with the latest lockdowns in the u. K. As europe continues to see a surge in copan 1000 cases now the announcement from british Prime Minister Boris Johnson comes as the nation eclipsed 1000000 confirmed cases of the coronavirus the new restrictions will begin thursday the 5th of november and last until the 2nd of december the Prime Minister spoke about the new measures on saturday in this country alas as across much of europe the chorus is spreading even for. The reasonable worst Case Scenario of our scientific advisors. Whose models as youve just seen now suggest that unless we act we could see deaths in this country running at several 1000 a day now is the time to take action because there is no alternative and from thursday until the start of december you must stay at home merrily leave home for specific reasons including for education for work thats safe you cannot work from home for exercise and recreation outdoors with your household or on your own with one person from another household for medical reasons appointments and to escape injury or harm to shop for food in essentials and to revive care for Vulnerable People or as a volunteer. Johnson defended the decision monday saying there was no alternative but to take action meanwhile the handling of the pandemic has become a Major Campaign issue in the president ial election in the United States President Donald Trump on sunday took issue with the latest set of lockdowns in europe while on the campaign trail also discussing what he believes will happen if former Vice President joe biden were to win the white house europe of poster kone and lockdowns cases were surging and deaths were surging but think of a draconian now they have to do it all over again what the hell are they doing i think im going to go over to. The vida lock down do a mean no school no graduations do weddings or you know thanksgiving. Nobodys sure is no christmas is no fault of the generalized and no future other than that i think hes doing what a good job right. By these locked down youll be living in a prison state thats what it is they want to lock it down. And we may be inching closer to a coburn 1000. 00 vaccine as astra zeneca announced sunday regulators in the United Kingdom had started an accelerated review of the companys potential vaccine now during these types of reviews the medicines and Healthcare Products Regulatory Agency or m h r a is able to see Clinical Data as it comes in and communicate with the drug maker on the state of manufacturing in trials to speed up the approval process astra zeneca has vaccine which is being developed with Oxford University has been seen as one of the front runners in the Development Process fellow front runner pfizer said friday it had begun and all accelerate a review with the m h r a as well so with all of this in mind lets go ahead and take a look at the trends and spread of the virus globally with our t correspondent science having her side where are we monday so right now the global of crime virus total stands at over 47000000 and growing at about 1200000 deaths now youre of north america and latin america account for. About 70 percent of the global cases and over 79 percent of the global deaths now the u. S. Leads the world in their number of cases and thats what over 236000 and a growing now sundays numbers there were lower but the 7 day average is now at the highest the country has seen you see right there on top so right now were 45 percent compared to 2 weeks ago now in fact cases have actually been increasing in cross the country and the fast this raid since the start of the pandemic brand now take a look at the u. S. Right now every single state the reason everything here is green is because we are seeing record higher cases compared to 7 days ago now michigan reported more than 4000 new cases on sunday its 3rd highest since the pandemic began after hitting a record last week now high oil theyve also reported its 3rd highest daily total after reaching record levels at the end of october now other states that have seen a higher numbers recently reported lower daily figures for sunday including wisconsin and pennsylvania but only because the number of new cases reported tends to be lower at the beginning of the week because fewer people get tested over the weekend and thats theyre up 19 percent compared to last week now some of these numbers for example wyoming yet again with the highest 14 day change and thats 533 percent montana right now has a 158 percent spike and its called 1000 that thats wisconsin thats 167 percent new mexico 78. 00 south dakota 68 percent and its not just bret its not just death spread but hospitalizations are also on the rise which. It means that there are going to be leading to more deaths in the coming week so obviously not the direction the nation needs to be going right now brant then so are we actually just spoke about the u. K. Lockdowns can you give us a rundown of the walk those european nations are facing right now so a large parts of europe and theyre locked down this week with more country joining the list of nations you know they have this side of that a tougher restriction is the only way to stop the virus from getting out of control although some would argue it already has because listen numbers dont lie you know we mentioned you care earlier they were already passed the 1000000 mark and they have the theyre the country with the highest death toll in europe we see right here that trend is going higher and higher and therefore we partial lockdown in england starts november 5th so its less strict than the 1st one they had in march which was but right now its nonessential shops. Are closing but schools and universities are going to be remaining open and now i want to go to germany theyre going into a partial lockdown starting monday and you see their cases are also trending up now this new measure will close bars and restaurants and hotels while keeping schools open and germany is also in another bad situation addition to their cases going up because they are no longer able to track infections back to the source known as Contact Tracing a very important element in controlling those viruses now in italy you see them going up once again theyre seeing a surge in new cases now their government imposed a new curfew and which has led to anti lockdown protests that we have been covering nonstop here now france last week entered into a new lock i mean take a look at this hamburger they were under 5000 cases a some under 2 now theyre ahead over 50000. 00 cases a day so now there are new partial lockdown its going to last about a month which schools and workplaces remain. Open but people are crying permits to actually leave their home now want to go to belgium just take a look at theres actually no lets do spain for us so spain they when they were looking good in september but then towards the towards the beginning of october they started going back up and now you see once again theyre reaching anywhere from 1220000 cases per day now theyre having partial lockdowns on the clusters around the country that is seeing the most cases now and now lets go to belgium i mean take a look at this so it sits hamburger they were seeing less than 400. 00 cases per day now fast forward about a month and a half they are seeing about 15000. 00 cases a day now they announced the partial lockdown starting monday and thats their latest because they have the highest infection rate in europe now this new lockdown means non essential businesses will close until mid december last may i want to go over poland they to again take a look at this in so temblor they were and they were getting about 1000 cases a day now theyre almost at 20000. 00 cases per day so even though poland already had the highest level of restrictions to date in europe with public gatherings being banned School Clothes and restaurants closed they still have managed to see this huge spike so lots going on in europe which well be covering constantly bring in to our viewers brant correspondent side temperature thank you for keeping us up to date. And Global Equities rebounded monday after that massive selloff we witnessed last week so lets go ahead and take a look at whats driving market with us cohost christiane and the managing director of the Market Gauge Group and author of the bestselling book play your money tree a guide to growing your wealth Michelle Schneider thank you both for joining us today michelle i want to start with you is the rebound simply because everything got oversold last. Driven by easing concerns did anything really change between today and friday aside from more clone of iris cases. Well actually on friday we started to see some positive signs if you separate what is happening in tech in the fan stocks and that is not altogether unexpected considering what i know we have talked about the fact that the big big stocks had not much room to go to the upside and we look at rhythm we started going into on try ok the small caps the transportation the retail the banks which had really seen any great rotation on friday will find came into those areas at the end of the day and on a weekly basis they held technically where they were supposed to so the follow through today is really not necessarily that big a shock and yet if we also step back its still very small within the big range that we had yesterday so really a lot remains to be seen as we continue the week kristie j. P. Morgan actually just downgraded the tech sector for the 1st time in 2 years what are they see. The tech sector as the china said its driven this entire rally since march so now j. P. Morgan downgraded from overweight to neutral saying that no matter who wins the most there will be a change and market leadership so this downgrade comes after the nasdaq fell nearly 9 percent since october which is basically just shy of correction territory so j. P. Morgan isnt the only one taking money off of tech now David Einhorn and Greenlight Capital and known for its the jerry shorts he was there and published a piece the kind thats the tech bubble popped on september 2nd when both the as a b. And the nasdaq all time high so according to him Investor Sentiment is shifting as the bubble is toppling under its own weight as everybody and every last robin hood he has basically bought into this tech rally adding on dips and covering every single last short so theres no more incremental buyer all the way up here and even. In a same way and its now pushing all the value stocks in upgrading bank names like neutral to our way so this actually accelerates today and accelerate the tech selling today as seen as location going into which have been a terrible performer year today down about 42 percent in the euro and its looking really cheap down here this time around there are a lot more resilient so any move and bond yields would be good for the sector. Our market setting up for these president ial elections tuesday what are investors into and how are they hedging for a potential long term policy shift if there was a change in power in washington. It seems like the market is actually hedging for either candidate to win because today if you look at classically what happened today you have a huge amount of money going into the cannabis stocks and even though separately there are 5 states that have legalization of cannabis on the ballot really federal government cooperation is going to be key to whether or not that can rally sustain so we saw some money there but we also saw money going into oil and gas the old oil and gas also alternative energy so you can say that really the money is sort of spread out for either or and i think theres one major reason for that no matter who wins there will be a stimulus package how that looks specifically we dont really know but im going to take the guesswork out of this a little bit a finite a as floor traders we would look at opening ranges and then we would trade off of the breakout of the breakdown of that range we have done a lot of Historical Research on election opening ranges and really you feel look at the range from today monday to november 6th the high or the low next week really if you dont want to over think just follow the range buy stuff that breaks out that would be the bullish ones to buy and then sell low as or you just know that these things will be barest of things that break down to the underside and really its that simple so it takes a lot of the guesswork out in terms of whos going to prosper. Whos going to fail depending on who joins in now kristie i know you like to keep an eye on the Crypto Market how about bitcoin how is crypto actually positioned going into the president ial election. While big climb is literally just dollars away from its highest monthly close so this set up going and elections actually looking quite bullish especially we look at a few factors going on right now so firstly regarding the elections no matter who wins the result will be pretty good for safe haven such as gold and because i mean on the us situation for markets in europe thats looking pretty bleak with the new lockdown restrictions being implemented across the continents so now the e. C. B. Also confirming more stimulus and more money printing with democrats and republicans at full strength for mike more stimulus because it is looking pretty good as an inflation hedge so secondly we also have the support of institutional as they continue to just so the paper which is the 2nd 20th Smartest Bank my deposits coming in you know square greyscale micro strategy and all that its really safe to assume that all the remaining big quine in existence theyll be eaten up by all the other companies so they point right now theyre watching the next few days very closely because if bitcoin and stay above 10000 i to morrow i elections we could see another rally wait because i know there are because i will have spent 100 days of 10000 consolidating and stabilizing and so while i hear predictions on all that if we look at what happened historically now mind tends to get in by order of magnitude whenever its been is above certain price points or 100. 00 days so its a really interesting pattern to point out that prediction or anything but it is a pattern because after staying above 10. 00 for a 100 days it took only 122 minutes or bitcoin to reach 100. 00 after staying above 100. 00 for a 100 days you hit a 1000 dollars and have a stamp of a 1000. 15 days 810000 so. Well you know what i say its coinciding with a major us whether thats coincidence our strength and no matter who wins more stimulus or more money being printed. Or towards our. Boom bust cohost Christiane Michel schneider of the Market Gauge Group thank you both for that expert analysis. And the new brand. And time now for a quick break but hang here because when we return election season 2020 is winding to a close the United States straight after the pause and we bring you up to speed on the funding of this horse race and as we go to break here the numbers at the close. Financials i dont fly im on a few. Things on the friday thats less about my ex in the future so crocker. Joined me every thursday on the elec simon chill and ill be speaking to guest of the world of politics sports business im show business ill see you then. Welcome back the 2020 president ial election has come to the end of its cycle and there are a number of reasons that this election will go down in history but one of those reasons this will be the most expensive of all time that is until probably 2024 joining us now to discuss is boom bust cohost ben swan so bad can you break this down for us the cost of this election how much was spent on the president ial race and how much went to congressional and senate races yeah its pretty incredible and youre right its probably going to be a record that only holds for about 4 years but if you take into consideration how much total were talking about 6600000000. 00 lets break down how that compares if you talk about what was spent in congressional races in 2016 the amount that was hit was 4 point 1000000000. 00 in congressional races this year its projected that number was 7200000000. 00 so nearly double the amount that was spent in 2016 and then also on the president ial race 2400000000. 00 was and spent on the president ial race this year is expected to be around 6600000000 so the numbers are just unbelievable when you think about how much that spending has just vastly increased print over where it was just 4 years ago which by the way yes to your point was also a record election in terms of spending and its kind of bizarre ben if you think about it because President Trump doesnt traditionally spend as much as a normal republican candidate so when we talk about looking forward and having an establishment republican which we would assume were going to have in 2024 this is this number is going to go up and is going to go up probably by a lot correct yeah absolutely right because the truck does not spend his own money on the campaign and he actually was vastly outspent last time around hes been vastly outspent this time around hes pretty unusual in terms of being a president a lot of ways but certainly as a campaigner he does not raise the kind of money that other candidates do youre right about that special Interest Groups are always getting involved but this year you are seeing. Difficultly more money being spent by Silicon Valley to oust trump and support biden than we saw for clinton in 2016 correct yeah were talking about some pretty staggering numbers here so we break down Silicon Valley who does that mean what means People Living obviously in the San Francisco area it means specifically people who are working in a dignified themselves as either Software Software engineers in those areas or in Venture Capital and then also who work specifically for either facebook Amazon Microsoft Netflix Apple or alphabet or one of its subsidiaries but heres the amounts in 2016 Silicon Valley vastly spent for clinton over trump to the tune of about. What was it 163000000. 00 but this year theyve increased that spending by about 22 percent at 199000000. 00 thats how much Silicon Valley has put toward joe biden in trying to get rid of the ultra you know over the weekend the Biden Campaign actually released a list of its largest donors they call them bundlers those are the people who fundraise for the campaign why did the campaign wait so long to release this information until we were just a couple of days away from folks go to the polls yeah this is kind of interesting because you know rumor broke obama was all about transparency he was going to be the most Transparent Administration in history but one of the things that he did was he came out and on a regular basis would announce who the butlers were who was going out raising money for him and who the large donations were coming from in order to match that Hillary Clinton did the same thing in 2016 being on a regular schedule biden has not done that this time around in fact what hes done is held off until the very last minute over the weekend as you said finally releasing some of these names and some of these bundlers are very surprising people to judge is one of them adam schiff the congressman from california is one of them wrong conway is one billionaires like reid hoffman but whats interesting about this in Campaign Finance watch dogs are very concerned about the fact that this took so long because biden did not follow in the footsteps of obama or clinton in the way they ran their campaigns in terms of releasing that information and he held on until help. On to it until the last minute when we talk about this these billions of dollars being spent now i know youve spent time in local television stations i spend time at local radio how much is being spent on media a good portion correct oh a huge amount is being spent on me us where most of it goes and by the way its not just on local television right National Television on also on the internet if you go to youtube when you click on any video on you tube thats monetize what do you see youre seeing campaign ads running all the time on every one of those videos its running all social media all the time its also pretty interesting to see that not only is a huge amount of money being spent right now but the amount of time that its been spent keep in mind people have been running for this office now brand for 3 years and 2 months thats when the 1st democratic challenger announce that they were going to run that was 3 years ago and 2 months and so youre essentially were almost hitting the point of it inless president ial cycle and how does that differ from where we see you know internationally at some elections in europe you see that they have limited campaign cycles is there an appetite for that in america because youre right we only campaigning for 1200. 00 days now the term election fatigue doesnt even seem to cover it the way you feel about election now so is there any call for that or any Movement Towards maybe a truncated election season well there is not a call for it right now if you ask if you ask most americans most americans wanted i think because there is absolutely election fatigue taking place and keep in mind we have election fatigue and the election hasnt even happened yet so were in process tomorrow obviously is a big deal on tuesday we have the actual election and then how many days or weeks or months do we go even beyond that before we fully understand whats taken place so we stay in election mode and you know november 3rd is not in the election mode having said that were talking about 1194 days that was when the last or the 1st excuse me democratic challenger came in it was that long ago so what were were. Moving toward is this kind of perpetual cycle of campaigning but it creates jobs for people in washington d. C. And lobbyists and political activists and people who make money advising campaigns they want to keep that in motion and it also works for as you said for media who makes money off advertisements and the money thats spent for them so the people who really have the microphone to say we maybe we should have some limits on this or the ones who stand the most from having perpetual election cycles well because it definitely seems like theres a hate to use these kind of terms but a d. C. Insider feel because you see it every election cycle and you actually see it coming through the primary cycle as well say a primary candidate like Bernie Sanders he has a big staff but he loses about 9 months out and has to kind of wrap it all up and goes to a smaller staff and then you see those folks who have made their money throughout the entire year and they spend you know i dont know a year on the road enjoying a vacation while the rest of working class america is trying to pick up all the pieces ben swan thank you so much for following this for us and breaking it all down you got things. And thats it for this time you can catch boom bust on demand on the brand new portable t. V. App which is available on smartphones and tablets or google play and the Apple App Store by searching portable t. V. Portable t. V. Can also be downloaded on newer model Samsung Smart t. V. s as well as ropey devices or simply check it out at portable dot t. V. Well see you next time. There was a very nice show from president putin and i could have said no thank you or i could have said thank you and i said ill take it and now its time to introduce my special mr dont travel thank you says very much for the. Name whatever you want to name i mean i dont know how when i come that news thats dishonest telecom that a recorder or e. Network thats totally dishonest c. N. N. Is says you know 100 percent negative i can read theres a change fast changes so fast sometimes ill say thats going to be a great story be a pretty good report and others good as you. Will see what happens. I always say who knows what well see on the field it will be success. Join me every thursday on the alec simon chill and ill be speaking to guest of the world of politics sports business im show business ill see you then. Sputnik 5 has the world. Just like its namesake the original. The 1st draft of a to leave the. Orbit world sidewall many questions remain unanswered about russias new vaccine the authorities are confident enough to go forward with mass production. Puzzles for. Whats going on the Assembly States please we made for you specifically city life in the because no one from the. Real radio received. Interest early in their requests 1000000000 for those of us all for option for see. All right this is happening all the way go on the reaction has been exactly the same as it was waved by. Journalists and us journalists not the world reaction is made of green cheese. Where your local movie should be reported. To which you. Have to fear for. The us election is in full swing how businesses are bracing for 10 chill chaos with the prospect of a drawn out vote count on civil unrest. Has the familiar claims of foreign meddling hind over the trial clashed and we hit the streets of lefkow to find out who russians are reaching for the famous well door because i can see. Police here too but i dont see biden. By. The front. Oh make state claims responsibility for monday night terrorist attack