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tv   Boom Bust  RT  January 12, 2021 5:30am-6:01am EST

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so what we've got to do is identify the threats that we have it's crazy the informed patient let it be an arms race is on offer and spearing dramatic development only really engage and loses are those few hours that strategy will be successful very critical current time to sit down and talk. the world is driven by dreamers shaped by one person or those.
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who dares thinks. we dare to ask. this is boom bust the one business show you count on star month are still going to washington coming out we saw a tidal wave of tech headlines this weekend as president trump let's land with a barrage of social media bans following last week's breach of the capitol some are cheering big tax but others are worried about the fate of free speech we'll discuss the fallout that will sit down with them and to seize an expert to audit the coronavirus vaccine roll out how exactly is operation of warp speed panning out and
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now that we've wrong in the year our markets reacting to an already knew it filled 2021 there are a lot to get through so let's get started. it's been an incredible weekend in the tech world not. only have tech giants twitter and facebook permanently banned president trump but app stores apple and google have removed parlor that's known as the conservative twitter currently there's a running list of tech platforms are moving trump's accounts and those affiliated with the president including q and on there's also reddit twitch you tube and snapchat to name a few many are calling it a violation of their 1st amendment rights so for more let's bring in bill but let's just get a journalist ben swan let's start with the basics what's happening with parlor. ok so parlors essentially run into 2 problems the 1st was that on friday a google for their place stored announced that they were going to remove it without warning they removed parlor from the google play store which means if you have an android device you cannot download partner then apple 24 hours later said the exact
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same thing where they were going to remove part of their what they claimed was because part of their refuses to moderate confidence in content and control what users see and what they say and have fact checkers the same way that everybody else is doing right now the way that twitter and facebook are acting because they refused to control the speech on their platform they were going to remove them from the place stored then separately from that amazon which through it's a w s service it's amazon web services company controls the servers on which parlor is built so they announced it was shutting down the servers so as of monday you go on to parlor on your phone or on the web it's not there you can access like a kind of a blank page and there's no service being provided from the server so right now what part of their is doing they're scrambling to be able to get back on line trying to go a different route for their servers trying to start basically all over again it was
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shocking to me because i've been warning this was coming for a long time sarah and the reality is i can't believe a company like parlor built their services on amazon web services that's insane to me assuming that they were never going to get shut down well could probably have prevented this type of backlash. they there are several things they could have done that the biggest of which is you don't you don't use amazon web services to provide your server. you know protection and content and support you don't do that you have to go through either a decentralized server programs or overseas servers but the idea that you build it on amazon services doesn't make sense the other thing is there's a whole host of ways to get around the app store problem but most of that is a direct download of an application and that has to be done through open source technology parler basically built themselves like everyone else does and they didn't do it with any kind of expectation for being shut down but i will say this what we're seeing right now center is truly unprecedented in terms of tech
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companies deciding what companies can exist and deciding that if you don't behave the way we want you to if you don't act the way we want you to we'll simply shut you down and it's a pretty shocking thing to have happening right now in the technology space and it is and i think there's a difference here i want to play devil's advocate here ben where it is a private company technically so they're allowed to make these rules you check the box when you need logging you create your count sign up for it right. well you get those sure of all the companies right but what's really interesting about this is this whole argument over section 230 right everyone's talking about section 2 thirds again section 230 is written in a way that essentially protects a platform from being responsible for what users upload so in theory the same section $230.00 protection that twitter and facebook and google and youtube use to protect themselves is is not being afforded the parlor to say hey we're not
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a publisher so if people come on our platform and they say things that you don't like we're not the publisher of that but we're we're merely a platform for people to speak and these tech companies are saying hey you can't be a platform you have to be a publisher therefore controlling editorializing every piece of content on your block well that's what they're being told and before we run out of time i want to talk about dab g.b. them are conservative your only social media platform on facebook it claims that on saturday it's gaining $10000.00 users an hour in the wake of twitter permanently suspending trump what do you make of this i'm not sure those numbers are accurate it might be accurate i could see a lot of people flocking to gab gab as technologically it's pretty slow as much as i think i'm going to try to bash them but they're pretty slow technologically there are going to be other alternatives popping up gab is one of the we'll see how long they last and you want to mention real quick before we go twitter watch the 12 percent drop in share price on monday as a result of having removed president trump on friday that's
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a huge drop for the company and a lot of people are going to be migrating away twitter facebook a lot of tech heavy stocks going down this monday the west coast of us again journalist fence one this isn't the end of it we'll discuss another time thank you you've got it. covered 1000 vaccine has proven to be sluggish facing many logistical challenges well courting to the centers for disease center control and prevention as of friday more than 22000000 vaccines have been distributed across the country. while less than $7000000.00 americans have actually received those 1st doses but vaccine programs are also having trouble in europe they're experiencing delays so whereas actual problem is that in supply is that infrastructure of the roll out this comes as these new variants there continue to pop up across the world there emerging in the u.k. and south africa and now in japan but how do they compare to each other and do they pose a threat to the existing vaccines well to answer this and more welcome by specialist at vanderbilt university medical center dr william schaffner always
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a pleasure to have you thank you so much for making time for us today dr schaffner let's look at the numbers here the u.s. the goal was to have 20000000 vaccinations by the end of 2020 only 6700000 americans have received the shot is a problem with the infrastructural author what are we looking at here. it's very heterogeneous error there are all kinds of problems out there it depends on the location my state is actually one of the top 3 or 4 states in vaccinating people or proportion of vaccines delivered in arms now is pretty good but even within our own state we're seeing that some locations are doing better than other some locations are swamped with early except hers they just want the vaccine but they haven't got enough other places and this is happening too many people surprise and health care facilities that not all health care workers are ready to get the vaccine they need reassurance you need persuasion they need information so all of that's rolling out
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if you haven't planned for it your vaccination program is a little slower than we would like so it's a whole spectrum of issues kind of coming together one and the incoming administration under joe biden his axing advisors they've been expressing a caution about being able to hit they're talking about 100000000 vaccine in the 1st 100 days how possible is it for them to help the states ramp up these inoculations to a 1000000 per day at the current rate well they're working hard to start to do that to riff things up and i've wished that the goal had not been so specifically expressed it's very aspirational if we reach that date and we haven't vaccinated all those people the media messages will be it's still a bummer it's not really optimal i think we should all say we're all getting better
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at thanks a nation as we learn how to do it and we're going to do the best we can. one of the things that the administration says it will do is release a lot of doses of vaccine that are currently in warehouses that will then put the stress on all the people who are delivering the vaccines to get that 1st dose into as many arms as possible as quickly as possible and that's what we're looking at here the possible that waiting for that 2nd dose for those who have already received their 1st vaccine dose how certain is it that they're in fact going to access that 2nd dose 21 days later and how big of a difference is it going to make if that 2nd dose is perhaps delayed. most of us think arguing from other vaccine experiences that if your 2nd dose is a bit delayed no big deal but you don't have to repeat the 1st dose your system will remember that initial stimulus and response but the other concern is
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a vaccine dose deferred is often the vaccine doses not received and we really need to bring everybody back for that 2nd dose in order to get that 95 percent effectiveness that is vital and extremely important dr schaffner i want to talk about these new variants were saying the virus they were margin in recent weeks from the united kingdom south africa and now there appears to be a new one in japan how do they compare. so at the moment let's recognize that viruses mutate all the time they do that most of the mutations are harmless or they're injurious to the virus and that's the end of that but when you get a series of mutations linked together they can sometimes change the characteristics of the wires and the south african and the british virus or communicable.
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transmit more readily and that's what the japanese fire is also thinks it is we haven't seen good data yet but sought for so far that data would indicate that our vaccines will work against them and i'll tell you something else masks work against them and also they may be more transmissible but that mask and social distancing and avoiding groups will help you avoid these new strains as well and we've seen some back talk obviously after the holidays with so many people traveling and seeing family members and not following c.d.c. recommendations of obviously skewed the numbers here i do want to ask the u.s. federal drug administration did issue an alert that this new variant could trigger false positives though so what's the worst case scenario here a timeline that we could see for a new variant that does not get captured by any of these tests. well that would be
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a difficulty because then we would lose the ability to make individual diagnoses and also to track things from a public health perspective but i think what would happen very very quickly is that the manufacturers of these tests would change their tests so that they would work there would be a little bit of a gap there but you can be sure the technology is there that would enable the chests to change very very quickly that i'm hoping that like you said the virus doesn't mutate enough to change the efficacy of the vaccine for that i want to ask you one more question before we let you go wall street they seem to be purty optimistic about the one dose johnson and johnson that's not the m r n a vaccine that it's going to be safe and effective they're hoping that those results will be accessed by the end of this month what do you know about that. well i know exactly what you've just said sarah johnson and johnson says that they are close to submitting their materials to the food and drug administration hopefully
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for approval we on the c.d.c. work group are going to see these data fairly soon and i look forward to seeing that if we had a one dose vaccine out there and johnson and johnson says they could produce a 1000000000 doses that would really accelerate the vaccination program dr schaffner do you think people will be more confident in a one dose vaccine that's not m.r. and. i think if we can show that that one dose thank seen is as effective as the 2 dose of x. scenes that will be the critical point is the is the one dose vaccine going to be as effective in all elements of the population older people people who are immunocompromised and the like so there will be comparisons made. people won't want to get a 2nd great vaccine so everybody will look at the data very carefully and we're looking forward to that data to be released in the coming weeks dr schaffner thank
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you so much for making time for us always appreciated your expertise. a pleasure sir. time now for a quick break but when we come back markets are sent spiraling after news filled 1st week of the new year with talks of instruction an increase covert stimulus flooding the airwaves what's been the ripple effect over on wall street well we'll discuss and as we go to break down the numbers at the closest. place. is your media a reflection of reality. in
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the world transformed. what will make you feel safe. tyson nation little community. are you going the right way or are you being led so. direct. what is true what is faith. in the world corrupted you need to descend. to join us in the depths. or a maybe in the shallows. franklin kind of one of the architects of america and here it's all of us how it was going to end when you can both are free money the republic is done and that is what just happened in their 2020 election people voted to for free money and now it's officially her ben franklin it's done it's done it's done.
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i can't show you my faith but i'm going to teach you must store in 9093 this man was sentenced to death. they could charged with capital murder even though he didn't have the gun didn't pull the trigger didn't intend to kill anybody mention living in your van. with a cell of a 23. confined within. a foot excusing. us markets are taking a pause after
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a week of record setting highs will nasdaq is down for the 1st time in 3 days the dow said point 2 percent tech stocks are under pressure and as we discussed earlier twitter twitter fell more than 10 percent while facebook shares also dipped more than 1.5 percent investors are keeping a close eye on u.s. stimulus with an incoming biden and ministrations so for more on markets and political economic and certainty and obviously the worsening pandemic numbers let's bring in blue bus co-host christy i and. 30 advisory management group i'll see andrew aaron's andrew let's start with you at what he is there following this monday as investors they assessed evaluations and the outlook for more covert stimulus what's behind the selloff today and is this just a temporary pullback or is this the start of a major correction. yeah i think this was a temporary pullback and we had news this morning of what was going on with the caller from one of the major tech giants so there was
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a reason for this so we have relative street we have a lot of strength in the moorcock right now i don't think any major civil war is imminent we also heard so much any stocks. from the new york stock exchange this morning you know and we also may be having a little bit of a hit with some chips in the auto industry so but besides that the more pretty resilient you know there were some tech stocks that were down but i don't see a major so often that it will especially in the coming week and it seems like at least at the end of last week even all global markets were were up for that to spy all of the political turmoil here in the united states kristie i want to talk about the u.s. trade deficit it jumped to 68100000000 and november this is the highest monthly deficit
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with a we've seen in 14 years how did this happen is it just purely the pandemic. well no it really came as a surge of imports overwhelmed a smaller increase in exports so throughout the entire holiday season that we've had new tellers were stocking up the shelves and warehouses ahead of christmas which contributed to a sharp jump wishing imports of consumer goods to record high so imports of capital goods used by manufacturers were the highest in 2 years so then that means the combined deficit for goods and services was about 61000000000 while the deficit for goods alone was a record 86400000000 so president trump had previously insisted that his tough on china and trade policies with the rest of the world would shrink deficits and bring back american jobs and that was essentially his entire campaign platform to reduce trade deficit and to justify his aggressive use of tariffs but now instead that trade gap has continued to expand with china and with other countries so that was
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transparent imports from china total of about $44900000000.00 in november which is high and since december 20 and u.s. exports to china continue to lag behind the goal set under trump's phase one deal signed in january and then the coronavirus as you mentioned could be blamed for some of us of the virus has greater demand from foreigners from everything from aircraft to american vacation and services but even as we get over it the we dollar will most likely remain as the only thing to reverse that trend would be rate hikes on the fed which really isn't foreseeable in the near future so net net at the end of the day the trumping ministration has spent the past 4 years waging trade wars in a futile or counterproductive attempt to turn the trade imbalance around and that will always be a major policy failure for the trumpet ministration that and that want to bring back jobs and much like you said it didn't do any of that obviously and you want to talk about the coronavirus case is
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a they are continuing to rise now that despite the rollout of the vaccine the administration of the backs. and we just spoke about earlier on the show given that this entire rally has been driven on the optimism and hope that the vaccine has got obviously. all of a sudden going to reopen the economy what's going to happen when that proves to be nothing more than the wishful thinking of the market can't live forever on just stimulus and helicopter money which seems like that's all it's been doing. yeah i don't i don't know if it's just going to be wishful thinking. you know the market is doing very well companies are or their earnings are very very good and the market kind of lives on earnings so i don't really see you know the war could really pulling back here we have the rates that are going to be you know stacks were a while here and as long as we have good earnings and we're on the verge of earnings season coming up right now i think we're going to do pretty well so i don't think.
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you know this is just you know coronavirus is going to be major concern. for what's going to happen with the stock working and i think stimulus is going to take effect and i think that we should see companies do pretty well at least for the next few quarters looks like a might be an economic growth and recovery that will take a long time but we will see some throughout this year before we go christiane asked about bitcoin and other all coins they tanked this monday they wiped off about 200000000000 from the entire cryptocurrency market what happened here. well we did say last week that a correction was imminent so a 20 percent correction for because that is nothing out of the ordinary compared to store recalls where it is seen 3040 percent drops so soft came after a huge several month long rally and signal some profit taking from investors and we also have to note that over $2700000000.00 worth of future contracts were
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liquidated in the last 24 hours which caused the price a big point to plummet in such a short timeframe late sunday evening so these liquidations in the futures markets were likely caused by traders barring additional capital to trade with larger positions so the problem with these leverage positions is that when the price of big points is a minor drop it can cause a position to be liquidated or become worthless so you have a cascade of trigger events where all these traders were blown out of their positions over a very small minor roots so big point essentially saw a massive long squeeze triggered by large sell orders on a coin base and as these whales sold it caused many of these long contracts to be liquid in a matter of hours which created this domino effect resulting in a steep sell off of a 16 percent correction but that saw last ounce of or out about the $30.00 to $700.00 mark where a lot of the constitutional investors found their entry points again so i think the overall sentiment around that point is still pretty optimistic especially as the
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number of whales actually increased after a big part so that shows that the number of whales are actually accumulating as a cascade of liquidation occurred i'm sure we'll probably see these highs again andrew errand of synergy advisor management and with co-host chrissy i thank you both so much for breaking this down for us. there's no question big tech has made drastic changes to the u.s. economy including state where housing prices have skyrocketed in places like california is bay area due in part to the tech takeover while many top executives are able to afford the higher prices other workers for these companies will they don't exactly have the same means or to correspondent has more on what amazon proposes to be a solution for now. amazon is taking up $2000000000.00 to invest in affordable housing for its employees in 3 different cities across the u.s. will this have an even bigger impact on surrounding homes or will this simply help ease the burden of sky high rent for their workers in big cities nashville
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tennessee arlington virginia and washington state's puget sound the common denominator in these 3 cities is amazon and it's not just the company alone amazon is proposing to build $2000000000.00 worth of affordable housing in each of these areas for its employees some $5000.00 of them according to rent café the average cost for a $1.00 bedroom in nashville 888 square feet is an average of $1400.00 monthly as of december the average cost of a $1.00 bedroom in arlington virginia is more than $1200.00 a month this price is actually a 12 percent decrease from last year puget sound roughly 10 miles from seattle washington is in king county rent prices there for a one bedroom average roughly $800.00 for $8930.00 square foot place 71 percent of the real estate is owner occupied with only 30 percent available for renters but you have a son is hoping to change that the tech giant said it plans to create a total of $20000.00 homes spread out between the 3 cities for its employees to
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afford the money will be funneled to nonprofits who will then buy existing apartments the plan is to work with local housing authorities using some cities to keep rent costs low for 99 years amazon is following the trend of alphabet who in 2019 valid to invest 1000000000 in affordable housing around the bay area for its facebook employees microsoft made a similar pledge in 21000 as well for affordable housing and no word yet on what the exact price range will be for amazon staff in these areas the retailer has only specify that it will build affordable housing for moderate to low income families and as amazon is in the process of making what they call fordable housing that are low. virginia there's actually more to the story a 2nd headquarters is also in the making there for the mega retailer reporting for boom bust a tosser sweeps. that's all for now you can catch boom bust on demand on the portable t.v. and wealthy get access. you. the
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world is driven by dreamers shaped by one person and those with. things. we dare to ask. i got this 8 millimeter film purely by accident. time period 963 to 65 place damascus.
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i don't don't know why young. i've watched it many times a man posing the monuments and all poster of the hollywood premiere of town without pity and a fight in a minute so without bruises. i had my doubts if i should waste my time on this but i came back to that film over and over again tracing a sequence of events happening in syria at that time and most of those who worked there the mood on the review. which you'll see in the neil curiosity is like a petrol motion machine did lives on without a lunch break and then suddenly i saw him stop let's take another look now at low speed this is key like 0 on a super spy who some consider a national hero and others an evil villain an israeli double o.
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7. because it's bud's them and they at the. at the one. still. in the day's headlines russia starts clinical trials of a light version of it sputnik week back seen as global demand grows. also this hour you leaders openly criticize tech giant spam on the president of the morning it brings up a broader question about freedom of speech. this morning you are a good lawyer. and britain's prime minister is reportedly caught exercising many miles from his home in an apparent breach of his own government schools.

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