Rural College Student does interest get shot in the head and found in a river like that. Something else had to be happening long. Oh, when i went to the wrong job, dont the road . Yes. To see out, the thing becomes the after an engagement equal the trail. When so many find themselves will depart. We choose to look for common ground. This is Boom Bus, the one business show you cant afford them in. Im branch of war and im rachel robbins in washington, coming after us economy is continuing to recovery as a weekly jobless claim count has his lowest level since the early days is at Hand Damage straight ahead, well discuss the numbers and the state of inflation and the country later we take you to the Airline Industry as Southwest Airlines pilots have filed suit against the carrier will dig into the development and the state of a be a regulation with the pack. So today was Dive Right in. And we leave the program with weekly jobless claims falling to the lowest level, to the onset of the coven, 1900 pandemic. In march of 2020. Now initial job claims fell 234000 or 3340004 the week ending on the 28th of august, the us Labor Department reported thursday. The decline and claims comes amid the so called Workers Shortage in the country, which i record number of job openings earlier in august. Despite a rise in cases of the delta, various of cope and 19 lay off in the nation to have also fall into their lowest level since june of 997. 00. Even with this positive employment data onlookers worry that the recovery in the world. Number one, economy may be cooling as the federal reserve easy monetary policy, and rising inflation continue to be in focus. Now for more on the state of the recovery. Lets bring in peter shift, chief economist and global strategy at euro pacific capital. Always the pleasure to have you on peter. I want to start with this latest jobs data that we hear about new job with claims. Find a pandemic era, lowes, while were facing Record Job openings. What is this telling us about the state of the recovery and the Job Market . Well, 1st of all, i dont think the com is recovered from anything i think is still very sick and having nothing to do with coven, i think all that happened is the government printed a bunch of money, or the fed printed the money and the government mailed out the checks and everybody went on the Spending Binge and so all of that temporarily boosted the gdp numbers. But its also the reason the prices have gone way up. Its the inflation that the federal reserve has created. And you know, these unemployment numbers. I mean, were still getting a lot of claims, theyre just not as high as they used to be. And a lot of people just dont want to work anymore. And the government is made people a better deal. A lot of people find its more lucrative to take a vacation than the show up for work. Now on friday we will see jobs data for the entire month of august the last, before the 1st, next policy meeting. And one of the points we have heard from j. Powell over and over again is the need to get employment stable before they can pull back on the easy monetary policy. Now we know you are a fan of this policy, but when were seeing the best numbers in the pandemic era, is it time to start that paper . What say you . Well, if that is just making up excuses because it knows the only foundation is bubble, economy has, is the feds easy money policies . I dont think they have any actual plans to taper. And even if they just kind of feign the process by beginning it, theyll never completed because soon after they start the taper again, if they even ever start, theyre going to have to reverse the process. Because ultimately the fed is going to expand the Q E Program and start to buy a lot more government treasury. Is it more hes back securities in the future than its doing right now. And peter, you know, i know this is something weve talked about quite a bit on the show when we talk about the feds policy. And i dont think weve talked about it with you. But it seemed also that the fed has had this whole thing of, of course theyre saying that propping up the academy, more importantly, theyre saying when it comes to raising interest rates, when pulling back that q we, you know, it could cause a market crash, which is you know, at or near record highs right now, all 3 major agencies in the united states. But, but in reality, thats not their responsibility, correct . Well technically, no, but member, these guys think that the economy lives or dies by the market. Remember their whole goal. Busy in Q E G was to create a wealth effect, they thought they could make the Stock Market go up. Wed all feel wealthier and then somehow wed spend more money. And so theyre kind of wedded to this philosophy. So whenever the Stock Market starts to go down, they start to feel fear or reverse. Well, the fact, and so they start pretty money, but its not just the Stock Market that theyre propping up. Its this whole Bubble Economy that theyre filling up with air. But by doing this, theyre actually undermining legitimate economic growth and theyre making everybody poor. Well and peter, you know you have to wonder dan cohen, the fed, former vice chair, a financial supervision. He warned of the possibility of another financial crisis during last Weeks Jackson Hole symposium. Pointing to vulnerabilities as asset values have hit record high, the government and private debt have reached near record. Hi. So how close are we when we look at all of this to that bubble bursting, as you say, well, if the fed did the right thing, we would absolutely have a financial crisis. In fact, it would be worse than the one we had in 2008. Thats why the fed is not going to do the right thing. Thats why they keep kicking it can down the road because they want to delay that crisis as long as possible. But the longer they delay it, the worst is going to be, because the only way to delay it is to make the bubble bigger. And the bigger the bubble is the worst to fall out when it pops. And you gotta keep taking that can down the Road And Hope that somebody else. 2 some other administration will have to deal with it eventually. Now we can have you on without of course talking about gold. And we know that inflation in germany had a 13 year high in august. And as it has been facing, rising Inflation Demand for physical Gold And Germany increase to the highest level since at least 2009. What do you make of this . And are we seeing an increase in demand for gold elsewhere as an Inflation Hedge . Well, absolutely. Theres a lot more inflation to hedge and people should be a lot more fearful about it now than they have been in the past. And, you know, the germans are particularly sensitive to this issue having, you know, live through some of them. Why am our republic . But certainly its fresh in their minds in america. We think about the great depression. They think about the great hyper inflation over there at germany. So if they start to with the sense of inflation, theyre going to be quicker to react to it. But, you know, inflation is going to be a problem worldwide. Central banks around the world are printing too much money. Theyre keeping interest rates artificially low. So inflation is a worldwide problem, but its going to be particularly acute here in the united states. Were creating more inflation than most, and we are more dependent than any other country on the value of our courtesy to fund our imports because we cant produce the goods that we consume. And so we have to trade the money that we print for the Stop Everybody else makes. And so as the value of our money is going down, were going to really feel the pain of inflation to a much greater degree as the dollar falls and the cost of those imports go through the roof. You know, and peter, if youre right about all this, its going to be a wonder if Central Banks will continue to do the same policy over and over and over again. Peter chip, chief economists global stratus with euro pacific capital, always appreciate avenue on thanks rob me. Google is once again in the cross hairs of the u. S. Department of justice who is now reportedly preparing a 2nd lawsuit against parent company alphabet. This time the D O J is taking aim at Googles Ad tech business, claiming as a company is creating anti competitive environment. According to reports, the Justice Department has accelerated its investigation of googles digital advertising practices and may file a lawsuit. As soon as the end of the year, this as both Google And Apple are coming under increasing fire around the world for their App Store dominant. Joining us now to break this down as investigative journalists been swan now been lets start with this new lawsuit on its way from the D O J. What do we expect it to cover . Yeah, were not exactly sure what its gonna cover other than the fact that in general, as you just laid out, its going to cover Googles Ad practices and what its been up to. Now theres a couple of things that we can take from whats already happened in the last few months to kind of gain some insight into that. As you know, started into the Compet Ministration under attorney general bill bar. There was a lawsuit filed by the d. O j against google over its ad practices essentially saying it was anti competitive. But what that did not match up with was the list of lawsuits that came from state attorneys general, in which a number of state attorneys general filed lawsuit against google. Because they said they worked a secret deal with facebook that allowed them to really not compete with each other that they were paying facebook to not take away a lot of their Ad Market and ad share. And facebook stayed on the sidelines more because of money being paid by google. So google could dominate that area in terms of the previous lawsuit by the d o. J that was over the Search Engine and search results. So this lawsuit what we dont know exactly what it may include, or if it even gets filed, may include more about that relationship with facebook and partners like apple. Were google has paid those companies in order to protect them and give them search dominance as well as Ad Market. Something that seems even worse than just regular monopolistic practices to pay off your competitors. Now googles also appealing that record setting 591000000 dollar fine imposed by francis anti Trust Watchdog in july over a dispute with local media about paying for news content. Why is global glue . Why is google claiming the find is unfair . Yeah, they say its unfair because they say they have been working with these different News Media outlets across france and theyve been doing their best to include them and create a new system thats more transparent and therefore they shouldnt have to pay 591000000. 00, right. Of course, anyones going to say that the interesting thing about the fine is that in france, you know, in the here in the u. S. U appeal, something you can pretty much stay it forever. That doesnt work that way in the when it doesnt work that way in france, france is fine, essentially means that even while the Appeal Process is going on, google has to start paying. They cant wait to pay until the Appeal Process is finished. So even though theyre appealing that could take years, according to Francis Court system, and theyre saying start paying the fine. And well see if we ever get around to the appeal. But i want to, i want to come in on something you just pointed out. Britain, which i think is significant, which is you said its almost worst of these companies work together. I think it is worse because what it tells you is it isnt just anti competitive practices. That big tech has almost reached a point where there are a few companies who are all carved out there, nice and together collectively theyre working together to hold the Market Kind of at hostage. So you have google and facebook. You have amazon, you have twitter, right. And it just a few companies that control so much of the marketplace, but they all have their own respective place. And its very showing them the effect it has for competition. Yeah, its like another form of the mob that we were referencing earlier this week are right now for you go switching gears to apple here. It has been hit with an antitrust suit in india, which accuses the company of abusing as dominant position in the smartphone Apps Business by essentially forcing out developers to pay a commission on all in app transactions. So how is this different from similar cases we are seeing in Europe And Asia right now . Its not, its the exact same thing. India is essentially looking at it and saying the same thing that the you were saying that South Korea we talked about earlier this week, you know, South Korea, it has a new law that theyre going to pass. It looks like its going to pass there, which essentially says that if you are apple or google, you cant put these fees on Everyone And Block out alternative payment options and alternative systems on your platform. Because theyre saying its being abused. And heres how its being abused. So spotify, for instance, says that theyve been abused by apple because apple runs these fees a 15. 00 to 30. 00, you know, 30 percent up charges on the cost of their music. But apple doesnt apply that same charge to with apple music service. So they for spotify to be more expensive than their own product, and that is anti competitive. Wow, it will certainly be interesting to see where these cases go. And if it changes any of the practices that were seeing right now, Boom Bus been swan, thank you for insight. Thank you. The time now for a quick break, but when we come back, we take you to disguise as the Labor Union of southwest pilots has sued the airlines. And well take a look at the state of the 737 matches. Another nation has approved the use and its gonna break here the number that the quote, the me cataract drugs are essential for millions of patients. Or are they, they want that pill that they hope will take care of their problem thoroughly and rapidly in the short term they really work. The problem is, in a long term, theyre mostly disastrous. Suddenly stopping a drug can cause withdrawal symptoms more serious than the condition that was meant to treat instead of the beneficial effects of these different medicines ending up to something wonderful. Very often theyre harmful effects and up to something terrible can pills. So of all ills, or are we trying to mitigate life itself . I just think i was and i was just scared scare a little girl of 24. And like me didnt have to be so complicated. So what weve got to do is identify the threats that we have. Its crazy plantation, let it be an Arms Race is on, often very dramatic development. Only personally, im going to resist. I dont see how that strategy will be successful. A very critical time. Time to sit down and talk the im not about the impact mark, dont forget, i took my function, you go with a lot of good morning worried me to another do domain, john i got ive got that limit and i wanted them off. Youre gonna go back to do the work for me about the run, the less about i get up there for us. Let me use the welcome back. The union representing Southwest Airlines. Pilots has filed a lawsuit challenging how the carrier handled the cobra. 1900 pandemic. The Southwest Airline Pilots Association filed the complaint in a federal court in dallas earlier this week, alleging the company implemented an emergency time off Program Change schedules and altered Health Care and retirement benefits without collectively bargaining the move. The claims would constitute a violation of federal labor law. Southwest and its staff have been at odds in recent months as the union threatened to hit the picket live during the winter holiday season. A time of Increase Travel to protest working conditions in response to the suit, the Carriers Vice President of labor relations Russell Mccraney issued a statement saying the company disagrees that change. The changes required negotiation, but claim southwest would continue to work with the union to navigate the quote challenges presented by the pandemic. Joining us now to disgust is Captain Dennis Pedro Communications Committee Chairman of the allied Pilots Association. Cavities are always a pleasure to have you on about these important issues. Now, breakdown these complaints here, when it comes to dealing with a global health crisis, like the over 900. 00 pandemic, does the airlines still need to negotiate policy with the union . Lastly and just to be clear, represent the american airlines, but were having the same issues in american airlines. So sure the up the negotiate with the union. But the most important thing is, is that the Management Team, it appears its southwest based on their operational performance. And at american Airlines Airline i work for, they were not prepared for this massive, quick recovery after the pandemic. So for them to just say that, well, its, its recovery the pandemic. You cant use it as an excuse. And this is not just about maintaining a contract, is maintain the certainty of your operation. When you just start making things up in an Airline Operation is symphony and your, your head and pursues, when there should be violence, youre going to hear it. Youre going to see it, so its happening. Its south west. Its happening at american management was not prepared. The pilots were and now theyre using the excuse that theyre just going to do a few things that are outside of the contract. So its really more of a fundamental argument that seems to be happening. Certainly as south west it is happening in american airlines, where were just saying youre run a good operation and not throw away all the rule books that make that happen. Yeah, thats a good way to put it. And now when were talking about preparation here, you know, were talking about southwest specifically. They seem to be at the center of a lot of the issues with delays and staffing. But we have to remember they did take 3200000000. 00 for the federal government as part of the Care Act last year. I mean, shouldnt that have helped to avoid some of the problems they are facing right now . Thats a great point. Ill tell you what american airlines took even more was an investment to keep my people like myself employed and ready to floss and congress. The Senate Commerce Science and Transportation Committee led by chairperson sen cant. Well, its asking the same question. Youre asking, why were you prepared . Why did you sell tickets . For flights that you did not have the proper manny, the Pilot Staff ready to roll. So you have 2 airlines in the headlines. Frequently were a little bit of weather happens and the system collapses and thousands of people are impacted by cancel flights. And you have hundreds of pilots saying i want to fly, connect me to the airport, but theyre unable to do that. And it would, it seems to be itself was management is using some, a symmetric rule and then nobody knows whats going on. And were seeing the same thing at american airlines. And sure, the summer is winding down. But we have the Winter Traveler Season coming up and talked about quite a lot of airplane. So we more into this in the early spring in american airlines. It didnt look like they had it covers. And unfortunately our forecasts came to soft thousands appli. Hundreds of plates the place over the summer canceled because they didnt have enough particularly pilots. We had on file so they couldnt connect them to the airplane. Ultimately, our passengers suffer and quite frankly, investor suffered because the Airline Space doesnt perform as well. You know, a lot more to run for operation and it kept stages before we go. I have about 30 seconds left here in the segment, but the carrier is also committed to running fewer flights through the end of the year. Due to this, to alleviate the issues, but as you said, that the busy Travel Season is that the right move, thats surrender, and were competitors. We want our Management Team supplies many airplanes as possible. So doing that is to moralizing, and it tells me that youve gone outside of your skill set. We want to help, we want to make those like happen, but its more with us. Instead of just making things up as you go along, youre likely to just repeat the same behavior and get the same Results Cap and dennis page. I love that attitude. We are competitors of the allied Pilots Association. Thank you so much for your insight today. Thank you. Meanwhile, the battle between Boeing And Airbus continues as travel rebounds in Europe And Airbus wins over a wild. Boeing customer, the british Leisure Airline Jet to confirmed it, has signed onto order. 368321 neo jets with the option to add 24. 00 more. The deal is worth 4900000000. 00 and it marks jack choose 1st purchase from Air Bus. The decades old rivalry has recently been centered around each companys narrow body aircraft. The boeing 737 max saw behind after it was grounded for nearly 2 years following to deadly crashes. Meanwhile, the Air Bus, a 320 families built up as a backlog and went on to games. 65 percent of the narrow body orders. But as boeing fully out of the woods where regulators are concerned with joining us now to be official. Jamie finch gave me, its great to have you on the Show Today for now. When it comes to the boeing 737. 00 max, we know that its cleared here in the united states. But for the company as a whole, are they likely to remain under a spotlight were regulators are concerned just moving forward . Yeah. What were seeing right now is absolutely, were right at the tip of the iceberg of what the investigation is going to be like. A big begun some investigation, but the calendars is already mandated that thats a conduct a, a corporate Culture Study of all boeing because of all the, the reports about bullying and other things that have been going on and hiding things that they are. Theyve been mandated by congress to actually put together this study, so well see that. So were just at the very beginning of this. And rachel just mentioned here in the intro about how Air Bus has actually been able to make up quite a bit of market share. Against boeing as boeing was the you know, the number one playmaker in the world, but the question becomes, is Air Bus safe or do we know that are they going to face Increase Scrutiny after everything thats happened as well . Probably, i think, Oldenburg Facebook increased scrutiny right now. I know from my conversations, weve represented some Air Bus. When all of this was going on with boeing, the corporate, the ceo of Air Bus told, drew out the company said, you are not to say anything negatively about boeing. Youre not because therefore, the grace of god go watch. I mean so, so theyve been very, very careful and making sure that they havent been outwardly pointing fingers or making fun of boeing because it could be them next. So i think that well see more and more people watching them. People are going to be making sure that theres other that the rules and regulations and safety standards are being followed, but they are not going to be under the same scrutiny as boeing. It because boeing has been its own worst enemy. It keeps things just keep rolling out of the day. Almost like every week. Sometimes daily. Things are coming up about boeing that theyve done that as failed on safety, on bullying within their employees. All kinds of factors that have been just really ruined in heart, their reputation and jamie, is that a corporate culture issue, or is it just the Snowball Effect of one thing goes bad and other thing goes bad . No, its not pretty. Starts with the top, and this has been something has been going on for a while. Boeings shifted a few years ago, back in the mid ninetys. I was a, when boeing a choir merged with mcdonald, douglas falling had always been known as a engineering company. Company of excellence and in ingenuity and, and really forward thinking. Mcdonald douglas was based on bottom line. Thats where they were a very, very accounting Count Base and bottom line, profit driven company. They are. Unfortunately, boeing took on the Mcdonald Douglas, in my opinion, to go to Mcdonald Douglas culture. And now we split. Theyve gone from a culture of excellence to a company that of, of people they put profit about people. Now when it comes to the regulator standpoint, i, they seen the changes so far with boeing that they want to see or does the companies still have a long way to go . Cuz like you said, it seems to be one thing after another. We all know, i mean we are, were, were still trying to dig through the, the mess if you will, to find out where we are. I mean, so its going to take a while thats, thats what so frustrating for people. And especially in this world where people want answers very quickly and we just dont have those answers in these investigations, are going to take a while and you know, fingers crossed and knock on wood. No one gets hurt, injured or killed in between the beginning of the study and the conclusion. And we know, of course there really is a lot of money. Its daycare and commercial agents and billions of dollars. Oh yes. Especially when it comes to those fights between Boeing And Airbus. It is, and its not just a money issue. Its like, its a national pride issue. Boeing is the number one export in the united states. I mean, we and they, its not just boeing is all of the parts and pieces that go into these planes and, and of the, the services that are around those airports around those manufacturing plants. All of those things tied together, it reaches bar into our economy. And in J B a, you know, i want to talk on one more thing that regulators have been looking at, you know, weve seen kind of an unruly passenger situation, a mid flight. What can regulators do about that . And i apologize to give you a time that we do have about 30 seconds. This is an easy answer. Federal law says that you cannot, you cannot interfere with a crew. You cannot threaten a crew if you do so. There are fines and, and imprisonment that you will have at this at this time. Boeing. I mean f a is enforcing i 100 percent policy, all enforcement, they are not 0 tolerance, im sorry, 0 tolerance policy. And so if Theres Anyone that acts up, youre going to get buying. Definitely. And you could be going to prison because youre putting, youre putting Everyones Life and in danger. When you do something like that, its not just you acting up and youre going to to where the master you got to leave it right. Fair game. You finish thinking so much for your time to thank you. And that this time you can catch Boom Bus on demand on portable tv could be found at portable Tv Dot Com on the apple App Store and google apps or Google Play Store as well. They see you next, send me the sometimes the simplest answer is the correct answer. And a lot of people ask, why are these Tax Tax so high . Why is the Stock Market so high . And the simple answer is that its a transfer payment. They federal government is transferring the Paper Money that they print into the pockets of the executives. Its as plain as the nose on your face and you can see it in the numbers. The drug started as a way to come back. A great problem. Whats the, what is part of the attitude of the nation, not just of north dakota, and it got to be something that you could get elected. This time, the fight against drugs took a check and told us that there was competence, short form. This is way too dangerous for him to be doing. Clearly they put him in harms way. A rural College Student does interest gets shot in the head and found in a river like something else had to be happening. Ah, the ah, begging to go to one time because what ive seen and with the background was so destructive to this day i have, i want to sleep. Coming up this hour, the 1st of an hour in depth reports into the victims of Americas Turtle War on terror. Following the us to withdraw from afghanistan, former guantanamo detainees was on beg, shares, the horrors he suffered. They had a sound. The woman in the next room that led me to believe with my wife, tortured a wave of my children in front of me and asked me where you can be all. Now what can happen