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tv   Boom Bust  RT  February 2, 2021 9:30am-10:01am EST

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donaldson you sort of he seem a bit sore need you sort of. thing for justice. this is boom bust the one minute show you can't afford for me i'm fair montana failed and washington coming out well if that's what a new administration for the free world with china and the taliban are going to take a look at the looking real estate factor here in the us we have a lot to get to the let's get started. it remains unclear just how a biden administration is going to tackle u.s. tariffs imposed on china host of economic update professor richard wolfe joined us co-host bence want to answer whether we are going to see
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a continuation of the trumpet ministrations trade war with china. or the policy of the trumpet ministration and my understanding was that biden was going to add that the release of moved from that kind of confrontation let me remind all of the viewers over the last year of the trade war on the terrible war the chinese economy has grown old 3 or 4 percent of american economy has shrunk 3 to 4 percent it didn't work we didn't win the next struggle in fact with chinese economy is gaining on the united states even more under these circumstances then before so i don't think this is a successful policy it has all kinds of dangers so i'm hoping this was an exceptional statement by her and that it will not reflect the basic problems well professor we've talked about this time. time again here on the show specifically
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and especially as of late where we see we saw a report a study that showed that basically the u.s. shot itself in it in the foot and it's 2 to briley overcome to be the 1st the world's largest economy falling but falling behind so the united states would essentially fall behind china sooner than expected and let much like you said given the handling of the pandemic they are seeing growth the only place in growth during these times but i want to ask you but on the u.s. side how much pressure is there really to lift the sanctions on china are we going to see again like professor will said hopefully not but another trader prolongs trade or essential. yeah i would not believe necessarily what ms romano was saying there and there's a couple of reasons for it one is i do think she's positioning herself in terms of her confirmation hearings in order to say look senators we're going to be tough on
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china because that is the belief right now is that the u.s. has to be tough on china otherwise you're going to get overrun and overtaken in terms of the economy and in terms of foreign investment in terms of trade deals and tariffs and all those kinds of things but in reality there are more than $3000.00 u.s. companies that have asked for these tariffs to be lifted companies like tesla tech companies are asking for those tariffs to be lifted and i do not believe that the buy administration is going to continue to be tough on china the way they trumpet ministration was that we could argue about whether or not that's a good thing or a bad thing but i don't think that there's any question they are not going to take the same kind of hard line position and you know it really depends on the long term aspect and outlook as to why you would continue that you continue it because you say hey look in the short term the job of ministration didn't seem to really win any victories and so the bite ministration have to make an argument that long term this is beneficial and again when you have so many corporations in america saying let's not continue this i just don't see him doing it yet so seems like both sides
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want to come to some sort of an agreement or consensus and not prolong this trade war that we've seen for too long a professor was at the world economic forum in davos where leaders there encouraging president to extend efforts to reignite this international cooperation that we're talking about what to civically when that look like. well it would be a dramatic change from what we've been doing because remember the trade war and the time of war while i believe focused on china was not limited to china there were surely is conflict with mexico and there were serious conflict with some of those. still very much alive i would like to caution everyone that over the last 2 or 3 weeks the german government the most german economy and government and most importantly in europe as signed made sure to cooperate with china i think
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any trade war relaxation as ben says quite rightly is what almost everyone wants who isn't positioning in so for her so in some political limelight with strong i think biden has a chance to try to work out a live than let live relationship with europe with china and so on and it would be a terrible tragedy for the world if this opportunity were missed when a lot of people are saying are expecting at least president biden as a politician for so long to be at least more predictable not as abrupt as we saw president trump during the last couple of years and then one thing rimando did not make clear was whether or not to crack down on chinese companies such as while we're going to continue why didn't she emphasize right about that well that's that's a complicated issue right if we as we've talked about before it is one thing to say
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we're not going to take as heart of a stance to listen i can support the idea of saying we're going to be very hard on the chinese government and on our relationship with them because if you believe that they steal intellectual property that they are taking advantage of other companies from around the world if you believe all those things and i think many people do rightfully so you can take a hard stance on the chinese government but that is a separate issue than taking a hardline stance on a company simply because it is chinese own and i think as a free market society that we claim to be it's very difficult to make that case i've been arguing about that on the show for several years now that i don't see the correlation between a government stance and a private company stance having said that i think it's important to note that. as we've talked about with wild way it's complicated because so many u.s. agencies have banned the use of weiwei products have made very bold statements about why we being involved in data gathering in backdoor is connected to the chinese government which i want to remind the audience still never actually been
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proven no evidence of this is ever been shown but because of that it's very difficult to untangle that you can't just say well we declared today suddenly that while way is not a threat because all these agencies and heads of agencies that have gone along with this how do you walk back all that information so i think the fact that she wouldn't comment on it is a sign that that is a very complicated issue and it's going to take a lot of kind of unraveling to undo what's been done there and does if it sound like they're going to actually reverse course on this much like you said there's a lot that's already been done and even though we haven't seen anything yet that shows that they are at national security threat they said to my tonight almost like they've gone too far and now professor what i want to ask you given the fate on trade deal that was signed so long ago it seems like years ago it was it was that the beginning of 2020 where are we with that now. well we're in really limbo it was
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a temporary stop gap measure to get across here you know that time has gone a new regime is in our area the united states and the senate. i really think that the action plea. of seating bedwetter everything now depends on what initiatives the biden that ministration. the chinese have what they're going to do what their position is very strong on international trade on multilateralism their busy signing agreements around the world with governments with very few exceptions are eager to work deals out with the chinese. yeah one kind of course is to try to gin you to go away. and the other chinese trump basically by suggesting they have. relationships with the government and the
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military. could come back to hold ups all i want company for. microsoft and they all have complicated relationships with the united states government and the united states military if you are stuck will show pressure that this is not trustworthy then we may yet pulling i want all of the companies you know as much danger as we could why would this would be. the wrong direction well again we just hope that they can find some sort of consensus negotiations we don't want to co back to what we saw last couple of years with the u.s. china trade or boom with co-host kind of on professor richard roth thank you both so much for your time today. the case or housing index is in and the numbers that reveal that the housing sector well it's booming many local markets including my
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hometown of san diego seeing double digit appreciation demand currently outweighing supply by a lot joining us now to explain a host of in question are to his very own manila chan who actually happens to have a background in real estate in los angeles back in the day manassas let's start with with the 1st question because so many people are on unemployment still filing for unemployment close to a 1000000 how are we seeing this this housing boom sector what's going on here well like everything else right now kovi it is actually driving this boom but in the other direction because if you were fortunate enough to keep your job during this pandemic you know many people finding themselves working from home they've realized they needed more space so. so many of these people are the 2nd and 3rd time homebuyers leaving behind their 1st starter home but that leaves those 1st time home buyers in a lurch because they're actually competing against investors and flippers where
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cash is king those guys have big money to play with so inventory is also at an all time low so the fed has been keeping the rates near 0 which in turn leaves interest rates for the buyer the lowest i have seen in like 20 years hovering below 3 percent so competition for these homes are really fierce between buyer and buyer and buyers versus the big investors now we're seeing virtually every house that hits the market right now receiving multiple offers they go on pending status almost immediately almost the exact same day but if you can manage to win a bid right now be prepared to pay roughly 10 percent more than you would have a year prior but over time because of these really low interest rates it kind of shakes out pretty evenly after amortization of 30 years it's it's expensive home prices but really cheap rates so it kind of evens out it does and we're seeing a lot much like you're saying people place these these houses are off the market
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sometimes within hours yes not not days don't even take days anymore how would you compare this to what we saw back in 2008 that we saw a big bust after the boom oh yeah so the early 2000 is boom i would say was driven by greed and easy money really if you had a pulse you could get a loan in the early 2000 many of those were those dangerous a.r.m. loans that took a lot of people to the poorhouse tons of unscrupulous loan brokers popping up all over the place back then. but the 2008 housing bust largely shed all those really shady loan shops tons of people lost their homes it was a bloodbath short sales saw prices drop over 40 percent in most major cities fast forward to now what looks like a bubble is purely on how hot the market is it isn't being driven by the same forces the demand is stemming from lessons actually learned from 2008 those who were able they socked away money and they prepared to buy when the time was right
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which in my opinion was roughly around 2017 about 10 years after the last bubble so what we're seeing now is just a pure supply and demand problem well i have to ask you this where are all these buyers going so as you know you have both being native californians the big markets like san diego and l.a. they will always be attractive to buyers and flippers and investors but what's interesting right now is with this new housing boom is that cove it has proven that many people don't physically have to be in the office anymore. we're seeing a lot of people trickle out further beyond what the typical driving distance somebody would prefer to live near their office obviously but seeing that people are trickling away out of major metropolitan cities people have gone basically 100 percent virtual a lot of these young gen's years they're all working from home strictly there their
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offices don't even have offices anymore so we're seeing them flee to places like oklahoma kansas texas is a big one right now a lot of people from california are moving to texas lo and behold and then this population shift is also going to see or cause a political shake up on the demographics in the years to. salute lee will unfortunately we're out of time i don't know how long this trend will last i hope that we don't see something like what we saw in 2008 although you know if these markets visit yearly never know this year sarah. done by when the i by the end of this year done anything can be pretty manila's can our very own host of a question thank you for breaking this down for us. time now for a quick break but when we come back we talk to 2 vaccine experts who helped break down the way to fund the 1000 new treatments and the new variants now found here in the united states don't go anywhere thanks. doc
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industry comes to life in los angeles every night. dozens of women sells their bodies on the streets many of them underage. los angeles police reveal a taste of their daily challenge no if you're going to exploit for a child here in los angeles they were going to come as you see officers going undercover as 6 workers and customers to fight the 6 trades. well you know things are gone topsy turvy the markets are undergoing a severe inspection point and those on the periphery are now driving this center. whacko time but much hated let's get into it. and that was when i learned how to not better man i am not out of luck though that
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i'm not out of the money out of the money that is going to get it to me. this was a good time to. try to move. on that wasn't good enough why not. why extending the old people we believe there's nobody here. bottom of my case i don't want them up with a job if i already have them on the totem other how do it on a case there is a lot of money but i'm not i'm a little like a mad builder let's put out to the people i don't want to put out a other similar party when i don't know them of the brother.
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the u.s. continues its massive effort in vaccine allocation and distribution as more drug companies join the list on effective vaccines but will the biden ministration make good on its promise we spoke with 2 vaccine experts regarding new treatments and the new strains of the virus now here in the us. the 16 is an active stimulus of your own immune system your body produces its own antibodies that are then we hope rather long lasting the general. in a body treatment is what we call passive the end of bodies are given to you from the outside they last for a period of time can be very effective in preventing the section and preventing serious disease but they are temporary quick fix as opposed to the longer fix
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of the vaccine could be kind of like a medication and biologic something like that that we're looking at here right. except it's designed to prevent illness as opposed to treatment illness doctorow fair i want to talk to you about president biden's vaccine plan he's seeking to increase the average daily vaccination rate to $1500000.00 shots per day and he admitted himself that it's going to be a talent a logistical one even though the u.s. average to $1100000.00 shots per day last week is an increase of $1500000.00 shots per day or more possible given some shortages that states have experienced. you know it's still not enough it's the truth i mean if you or you that has the need to backslide about 70 percent of the united states population in this 70 percent of the u.s. population is around 24250000000 people it's
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a judo sex scene so you're talking about 480000000 to 500000000 doses if you're getting a 1000000 doses that day that's well into next year before you get 500000000 doses you need to be a 3000000 doses and right now the biggest problem we have it's production it's not as much distribution of administration there are a lot of administrating sites that are open when you to mr x. nate but we just don't have enough that actually we're going to have to even 3000000 votes a day if we hope to get on top of this being done by the end of the summer well and even then 70 percent that's still a large number isn't even known as 70 percent of americans are willing and wanting to get the shots i know a lot of people the medical field have rejected the shot. i think we can surely get 70 percent of people to take this although there is definitely some reluctance to get a vaccine which you know we still wrote we quickly with the technology which we previously don't have a lot of commercial experience i still think sentences the people who are resisting the vaccine don't make up with 30 percent of the population so i'm optimistic we
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can get 70 percent well hopefully people want to return to their known norm are their normal that is dr schaffner we've been saying the new variants of the virus are my. just more countries are looking to impose these stricter lock down the on travel on international travel maternal reported this week that it's vaccine is indeed in fact of against the u.k. variant but less so for the south africa variant of the company is looking into a booster shot is what they're saying for the new strain should this be a cause for concern. it's oh well it's certainly something we keeping our eye on the south african variances not yet been to take that year in the united states we are looking harder still not hard enough for these very coronaviruses and i think it is a prudent thing for merck durant to start making a vaccine which we might need in the future whether here or other parts of the world it could be given for example as
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a booster dose that would prevent these south african variant if you are rich. with the standards actually so all of these things are things that need to be monitored carefully and are you sure you the harder we look for variants. the more will find i'm afraid i'm sure as you said they haven't been reported yet but many are skeptical and saying it is already in here and even even on today the variant which is something is more lethal more contagious actually is it showed up in the united states in minnesota but i want to talk about several years from now dr offit if the u.s. and the global population if they actually return immunity from these mass inoculations is it possible will continue interation of the corona virus emerge around the world will versions of the virus and the pandemic just be with us forever and that's something we have to get used to. but me this is true or is this
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just now. in the in the in the. creator parents as it continues to adapt to growing you know the question the critical question whether these variants. today there is no evidence for that we really when you should start to worry is when you see people for example in united states who have already gotten 2 doses of. the pfizer backseat in our hospital with. 90 because what i want to be very traits that hasn't happened yet that's when you know that truly scared community. right now we're just trying to make our best guess based on lies and you know by responses that we see from people who are vaccinated to see whether it's actually neutralize the virus laboratory and so that's out there as contribute find that it's a little less capable of doing that but that doesn't mean that you're still not protected it also remember you're just looking at the new just i'm sure you're looking at these lies again but it's there are other aspects of your system like
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the filter cells and also. your old protections so i think that right now worry a lot about this but it's not a shocker said i think we should certainly prepare for the fact that it might happen is right now we don't have clear evidence that. looks like a more time needs to pass before we can actually look into it it's amazing though of the technology and where we are today that we haven't been able to catch her or see them as as we should these days actually a specialist at vanderbilt university medical center dr william schaffner and director of the vaccine education center at children's hospital philadelphia dr paul offit thank you both so much for taking the time to join us to. boeing has experienced some turbulent times 1st with 2 deadly crashes involving their $737.00 x. jet followed by major financial losses reported just this month now after 2 years of inspections of the modified $737.00 the airplane maker is getting the green light to fly that plane again in europe r t correspondent and takes
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a look at how authorities have arrived at this decision. after to take all accidents and issues with its largest jet coupled with the pandemic only its face along. up to $12000000000.00 and that's a record for the jet maker but there is the silver lining for the company as boeing flights resume in europe while the crown about respect demick has impacted the airline industry as a whole boeing is coming in as receiving the biggest loss the aerospace giant reports its largest annual deficiency of nearly $12000000000.00 in the 4th quarter alone boeing reports an $8440000000.00 downfall pushing the yearly loss to 11940000000 that's a 24 percent drop in revenue i did next just over 58000000000 boeing 737 max resume deliveries back in december this is the same jet that was grounded in 2019 after 2 fatal accidents the 1st crash happened on a lion air flight near jakarta on october of 2018 the sec it was an ethiopian
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airlines flight on march 10th of 2018 a total of $346.00 people were killed but quoting to investigators a faulty automated flight control system known as the m.c.s. cause both crashes are reportedly sent the planes into a nosedive and the pilots were able to manually take control since then the company has made repairs to the maximum requirements to return the plane and back to commercial use however earlier this month boeing was criminally charged with conspiracy to defraud the u.s. for lying to the f.a.a. about the $737.00 max boeing was fined $2500000000.00 some of that money now going to crash victims' families meantime the company is also facing quality problems with its 77 dreamliner jet deliveries have been postponed a sense october the new largest passenger jet the 777 x. is experiencing delays now back to the 737 max jet the modified plane has been
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approved to resume flights in europe after 2 years of review there this comes after the european union aviation safety agency implemented safety changes and upgrades its includes a. working of the electrical system software changes maintenance checks and further training for crew however relatives of some of the crash victims say the move by the european aviation officials to allow the 707 back to service is quote premature inappropriate and even dangerous for the boeing gets ready to take flight in your lap the 737 mounts were turned to spies here in the u.s. the last november there have a portaloo been 2700 passenger flights flying some 5500 hours for boom bust the cost suites are. that's it for this time you can catch boom us on demand on the portable t.v. app which is available on smartphones and tablets google will play on the apple app store by searching portable t.v. or simply check it out as part of all the t.v. .
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secrets prisons and usually what comes to mind when thinking about europe however even the most prosperous can be deceived we've been to 0 zone there were too few houses were allowed to leave prison was located and only cia people had access to the story for investigators sure how they uncovered the darkest dealings of the secret services but i mean. you great ignore. dog for months on you. may be a sore knee for. trying for justice on oxy. seemed
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wrong why don't we all just don't call. any. yet to shame. distinct concepts of. engagement equals a trail. when so many find themselves worlds apart we choose to look for common ground. really to sneer those who really can show you. that without. something.
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good to see you. are in your force where you could be near mushed of mystery if not thoughts about spirit i pity you it was emotional 6 put him in finding no. clue will. show. for you to. move. the story ringback.
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the headlines this hour russia sputnik the vaccine gets the seal of approval in the lancet medical journal where researches say it is about 90 percent effective and well tolerated also to publish use of the warning about the sale of fake ok with 19 tested because criminals seek to profit from travel restrictions on the restaurant resistants business mystified to go on going with restrictions by open their doors and serving diners and. footage from new york shows officers handcuffing and pet a 9 year old girl putting.

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