Skip to main content

tv   Boom Bust  RT  February 3, 2021 3:30am-4:01am EST

3:30 am
thing. we fear to ask. this is to bust the one business show you can't afford to miss i'm going to bore in washington coming up we are several weeks into the covert 900 vaccine rollout how do the drugs stack up against one another well straight ahead we're going to give you a full breakdown on the efficacy of various vaccines and where we stand in the an occupation process this market volatility continues to roll to roil stocks as the
3:31 am
game stock saga seems to be cooling off but global markets are popping on renewed stimulus hopes to break it all down and global economies have taken a major hit over the past year as the crow virus continues to take a toll later on we'll take a look at how the european economy is faring as the chaos continues with a packed show today so let's dive right in. and we lead the program with the latest data regarding kobe 1000 back scenes russia's sputnik vbac seen showed high levels of efficacy and safety according to a peer reviewed study released in british medical journal the lancet set tuesday now the 2 shot vaccine was shown to be 91.6 percent effective against symptomatic coppa 19 and protects against severe cases of the virus so how does the. russian
3:32 am
vaccine stack up against some of the leading covert $1000.00 vaccines out there let's take a look the 2 dose vaccine from american drug maker pfizer and germany's bio tech and showed a 95 percent advocacy with a 94 percent effective rate for adults over the age of 65 years old now mcgurn is a vaccine which also requires 2 doses has been shown to be 94 point one percent effective at preventing the virus after 14 days from the 2nd dose like pfizer and by when tax drug the number dipped slightly in those over the age of 65 years old last week johnson and johnson announced efficacy for its one shot vaccine stating it is 85 percent effective in preventing severe disease hospitalization and death across all regions but numbers were different depending on the region now the shot was 72 percent effective in volunteers in the united states but just 66 percent effective in those in latin america and just 57 percent among volunteers in south
3:33 am
africa meanwhile data from astra zeneca and oxford university's vaccine showed the drug to be 90 percent effective when given a half dose followed by a full dose at least one month apart however the data also shows 62 percent of african c. when given into full doses over that same time period combined analysis by astra zeneca shows an average of 70 percent efficacy across both doses there are currently concerns in europe over the safety of the vaccine for the elderly populace population with all of this in mind let's go ahead and take a look at the global vaccine rollout with our 2 correspondents i attend your sarwari so grand 1st i want to continue something about the russian sputnik we they were just talking a valid that you know all along they were saying that this split not be at a very high efficiency against called in 1000 but if you recall russia also faced a lot of international criticism after the vaccine was 1st approved before they actually have released their data from clinical trial. now they have since released
3:34 am
their data which was published in a medical journal would you mention the lancet and that was based on clinical trials conducted on 22000 people now not only does it have a 9.6 percent efficiency but it also shows to not cause any serious side effects so that's huge plus wouldn't it be all a shot does not need to be placed in a freezer which has made other vaccines logistically challenging to distribute now russia began vaccinating people in december and around 50 countries have preordered the vaccine including algeria iran hungary and venezuela now plus the research institute developed spud navy is now also partnering with astra zeneca to try to combine their vaccines and see if the mixture could actually increase efficiency even more so again that's a very good news now moving on taking
3:35 am
a look at the numbers you know globally there's been over 2200000 that's related to cold in 1000 so countries around the world they're scrambling to get as many people vaccinated as possible to prevent even more deaths you know in the u.s. health officials are right now administering about $1300000.00 doses per day on average and now taking a look and who is right now actually eligible for a vaccine you know the federal government has recommended that states allow ages $65.00 and older to get vaccinated but that's just a recommendation since states they actually create an implement their own plans now most states have started vaccinating older adults though the minimum eligibility varies per state for example and states like south dakota have set a age 80 requirement were as alabama connecticut massachusetts. who says and new
3:36 am
mexico all of which have been hit very hard by the virus they've said their age for vaccination at $75.00 plus so it's going to be a while before younger people actually get the opportunity to be vaccinated and in fact only about 5900000 people in the u.s. have been fully vaccinated so far and about 26000000 people have received at least one dose of the covert 19 vaccine and the share of the population that has also gotten the one shot again that was a 26000000 but so far risk for genia there vaccinated most from any state but only had 3.8 percent of their population followed by south dakota at $3.00 so even though these numbers are so small they still stand out in the u.s. as being the states with the most vaccinated so far brant. with all the discussion about vaccines we should mention there's obviously the new variants that we're
3:37 am
seeing pop up around the world of the cold night virus how effective are these vaccines against that new variant so the variant 1st discovered in britain known as b 1017 which has not been reported in 72 other countries sorry so far have been very contradictory i should say you know so far lots of studies have shown that the vaccine will actually work again this variant but now according to a report by the public health england scientists are now discovering in at least 11 samples that this new strain that it might actually escape anti-body protection there's also strong evidence that he may also cause more deaths for those not vaccinated and then there is the other very end in south africa called b 1351 now they have also served in that area and this new very end both mud. pfizer plus johnson and johnson magazines they've all
3:38 am
shown to be less effective in trials then there is the very embittered reported in this very newsgroup reported in $31.00 countries so far now also in the us has turned up in maryland and south carolina now another man found in brazil the p one it's been detected in minnesota so far this week and also been discovered to have gain to same mutation as in south africa so it's also going to have a reduced vaccine efficiency brant or to correspond sites ever thank you so much for keeping us up to date. and global markets rallied tuesday amid increased prospects of another economic stimulus package here in the united states now a group of 10 republican senators met with president joe biden monday evening to discuss their 618000000000 dollar counteroffer to the white house's $1.00 trillion dollar relief package now the newly proposed republican plan would provide $300.00
3:39 am
a week in enhanced federal unemployment through june less than the $400.00 per week through september offered by the biden administration now there will be also be $20000000000.00 each for child care and schools both of which fall short of the president's proposal the republican plan would also offer $50000000000.00 for small businesses and $160000000000.00 in vaccine distribution and when it comes to direct payment stimulus checks the talk of the town of course the republican plan cuts payments down to $1000.00 versus the 14 or $1400.00 supported by the democrats now the $618000000000.00 plan also leaves out aid for state and local governments as well as a plan to raise the federal minimum wage to $15.00 per hour so for more on how this is moving markets and the latest economic news that we're going to bust co-host christy i and david mckelvey any c.e.o. of the mckelvey any financial group thank you both for joining us chrystia i want to start with you i was the market responding to this new proposal that we're
3:40 am
seeing from republicans. well right now it's just looking like another round of political theater but at least it's moving in the right direction where the market is concerned in terms of offering more stimulus more quickly so u.s. equities are out as investors saw improved prospects for president by a $1.00 trillion dollars package after he met with senate republicans to discuss their scaled back plan so it's currently looking like biden is not willing to settle and compromise for coburg relief package that quote fails to meet the moment as the u.s. continues to be the worst affected by this and the effect so the 618 blind eye package is scaled back as you mention and biden responded that there were many areas that the package failed to address and while there was this exchange of news there's still this very wide gap between the 2 numbers but the sides are trying to join trying to meet somewhere in the middle to pass a bipartisan what are virus ready akhet but it's looking increasingly less likely so with all the back and forth it really does look like we're exactly back to where
3:41 am
we started where the democrats are going to have to try to get it asked the budget reconciliation but that means not everything will get through in the bill if it goes through budget reconciliation so things like boosting the minimum wage to 15 dollars may fall outside of the requirements likewise using a process to fund we give me opening of schools may also be outside the limit of the tool you know christie stay with marketeer for a 2nd the game stop rollercoaster continues with it falling today and losing over half its value will happen there. so again tab slid about another 50 percent tuesday after falling more than 30 percent in monday's session bringing the total 2 day losses to roughly 6 percent so this was that when you tell crowd that spark is nasa a short squeeze for hedge funds last week and it looks like that train is quickly coming to an end here because game stocks and volatility had a much lower this week than the last 6 days indicating a lack of interest now more puts that calls have been trading recently and open interest volume is lower and there are signs of the red it flows are moving
3:42 am
elsewhere so there definitely signs of a peak in game stop and the other names that were previously targets on the most short of list so while it looks like the tide has turned and the shorts are once again gain the upper hand it's going to be quite difficult to separate out the winners and losers of this trade so obviously many had got hurt in this trade getting squeezed out and taking our massive losses and while more stepped into a place the shorties are squeezed out not many were there today to take advantage of this free fall so short interest in game stop dropped about 53 percent from over 160 percent a week ago indicating that not many shorts were left standing to capitalize on this downturn but the fundamental and momentum short sellers have found opportunities and price points to exit and position in 6 of these massive losses today other names like the trade also got the clued in and see which is down 40 percent blackberry down over 18 bed bath and beyond down 10 percent so looks like the run had mania has died down now and it remains to be seen whether they will now turn
3:43 am
their attention to next no david i appreciate your patience because i have some for you know the read it crowd trades are not only focused on equities but on commodities as well it's all you know the silver market or the buying frenzy that sent silver to an 8 year high has actually stalled out what's the latest there and what happened. brant these swings are an order of magnitude compared to what we knew you usually see in the so her market and i'm wondering if the red it crowd doesn't have a little bit of problem with attention deficit disorder we had a one or a move higher monday and lower equally proportional lower on tuesday and so here we are we did write more sober trades yesterday and than any other day in our 49 year history as a company so there is activity there but i think by definition we're talking about hot money hot money is short term opportunistic the engagement you see there in the options market a 400 percent increase in options track in s.l. and this is bump short term volatility i think the big story for silver is what
3:44 am
happened last year up 45 percent for the year gold up 24 percent because what you have as a backdrop is pretty pretty significant twin deficits modern monetary theory and a new administration that is dead set on monetizing debt at a level we've probably never seen before so the moves by slide by long term investors i think suggests that there's reasons to own the metals in the short term crowd maybe they will accidentally end up owning a great asset but i don't know if they have the staying power if they can actually sit on their hands it might do them some good well david maybe you could in 'd shed some light on this for the audience but what would be you know we know that if you're doing a short squeeze you're trying to stick it to hedge funds that's understandable with the game stop situation but what would be the endgame for reading this to kind of cause chaos in the silver market. yeah this is not a millions and millions market it to be playing games and as a $1.00 trillion dollars market it takes
3:45 am
a lot more money to move the silver market and there is not a massive short in the market to squeeze so you know the reality is i think over the next 3 to 4 years we've got $150.00 to $200.00 price tag on the silver price but this is not a short squeeze story again this is debt monetization this is praful get a central bank money creation and liquidity in the system at levels we've never seen in the history of not even monitor ancient finance so that we see real assets beginning to reflect weakness in currencies is significant and i wouldn't tack to undo a short short story at all i'd say look at last year if there's a continuation of the trend in the 2021 it's on the basis of very strong and sound fundamentals not on a chat room commentary and then i know you follow commodities have away b.p. reported earnings where it reported 1st loss in a decade the energy company plunged to a $5700000000.00 loss last year amid a lack of demand and travel restrictions due to the pandemic what does this mean
3:46 am
for the whole energy complex are we in for a bloodbath as this massive debt debt laden sector crumbles. i'd say it doesn't mean much because the worst is largely behind us and we have coded the next thing is a return to normal demand dynamics in the energy market you get domestic supplies which are already off a couple 1000000 barrels per day and so with the demand recovery in the context of stabilize supply i think it's actually pretty positive for the energy space it was we got into last year 3rd quarter banks were not interested in helping the energy space by the 4th quarter with a turnaround in crude prices all of a sudden banks were back at the table financing was was was back on the table yes we saw 50 bankruptcies last year we will see some or go bankrupt this year but i think the carnage is likely behind this i think you're probably looking a sector there's a decent value play and christy quickly before we wrap up today a theory of just hit $1500.00
3:47 am
a new all time high what is behind this strength. well there's a lot because we said back in the summer that between any of them but quite right now each offer is the better risk reward upside from here and not just made new all time highs of 1500 market data suggest option shows dominic 80 percent of its volume has gone by calls and right now we have a near term catalyst on february c.m.e. companies that they will watch the each of which will basically open up the floodgates for all institutional investors i'm sitting on the sidelines right now co-host christine and david mack of any of the mecca of any financial group thank you both for breaking it down for us today thank you. time now for a quick break but hang here because when we return the code 18 pandemic continues to weigh heavy on economies around the globe and the e.u. is no exception as it saw a major contraction in 2020 straight ahead we analyze the numbers and how europe is grappling with the ongoing outbreak and as we go to break here are the numbers of
3:48 am
the. secret prisons and usually what comes to mind when thinking about europe however even the most prosperous can be deceived we've been. there were to view houses were . preserved were located and the only people had access to the story from investigators l.z. uncovered the darkest dealings of the secret services but i mean. the great ignore . before. trying for justice. a dark industry comes to
3:49 am
life in los angeles every night. dozens of women sells their bodies on the street many of them under-age. 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 out you would see officers going undercover as 6 workers and customers to fight the 6 trades. welcome to maximize your financial survival guide. looking forward to a year that's without. yanks this is what happens to pensions in britain. you watch kaiser report. well welcome back bad news for the european economy as new numbers show just how
3:50 am
badly europe contracted over the course of the covert 900 demick in 2020 of the euro zone dropped by point 7 percent in the final quarter of 2020 compared to the previous quarter as government stepped up social restrictions to contain a 2nd wave of the crowed virus for context 4th quarter g.d.p. fell by 4.8 percent compared to the same period for the year prior overall and 2020 that you economy fell by merely 7 percent so joining us now to discuss the host ben swallowed and hilary ford which president strome our global business development consultant thank you both for being here hilary i want to start with you what do these numbers tell us about how devastating the pandemic has been to the european economy or brant it's been absolutely ghastly you just mentioned more restrictions on more lockdowns i mean there been riots night after night in holland and done hog announced the dom it's been really devastating across all of europe now in terms of financially most economists actually predict that the eurozone is going to enter
3:51 am
really back into recession and it actually has been predicted specifically by unicredit the chief economist eric nielsen he has said that he thinks that the eurozone and that's in contrast to the u.s. than china and in contrast to great britain the eurozone he predicts will be the last to return to prepared to make levels in the eurozone of course lags behind the chinese i mentioned china in the us a lot of this has been due to their really late delay in terms of the vaccines as you know the e.u. commission was 3 months late in terms of approving vaccines that were already approved in great britain and the us and of course that has made a huge difference to the numbers across all of europe. and what they're predicting is that this will affect countries particularly those that are really susceptible in times of tourism like greece spain and italy really devastated and much of europe of course has. business has
3:52 am
a lot of restaurants on those businesses that cater to tourism so absolutely devastating. as hilary just alluded to this isn't just about the e.u. but the united states has actually struggled as well oh why did these they should stumble so badly when when other nations like china were actually able to make progress amid the pandemic yeah it's kind of an interesting contrast isn't it i mean you have china there right now is is moved up in terms of its projections of overtaking the u.s. economy they've gotten their people back to work they have their factories moving in manufacturing has restarted and it restarted very quickly you know in the middle of 2020 why is that was because the chinese have a singular focus and that was on their economy and it was saying hey listen we are going to get control of the medical side of this but we're also going to not allow this pandemic to slow down what we are doing in terms of manufacturing supply chains and continuing to grow the economy i would say that that was a stark contrast of the way the u.s.
3:53 am
has responded and the way that much of europe has responded in the united states there are very few if any leaders who are saying the our focus has to be on keeping people working keeping jobs and growing the economy that has been secondary to everything else well when you make it secondary or 3rd or 4th in terms of its importance you're not going to see a growing booming g.d.p. and that's why the u.s. is so far behind right now and continues to be because even right now there's a lot of talk about it seems there's very little talk about how we're going to fix economic issues and not just pandemic related economic issues but those big overarching issues brynn that have been going on for decades now where is the manufacturing where the jobs in this country where people are going to work automation is on its way if not already here in so many cases what are we doing about the. problems western countries haven't dealt with them. well it's interesting you mention this because before the pandemic how many shows did we do here on where we talked about the bubble being ready to burst an economic downturn there was any day now and yet the pandemic just kind of everybody went was we were
3:54 am
in a pandemic don't or that's why this is happening. there but look at the economical does the now find itself in how does it dig out well let me also that brand but 1st i want to add to ben ben is totally right amount of the situation but i wanted to add also don't forget china let all of the planes out of to the rest of the world particularly to europe particularly into italy particularly into the u.s. but they didn't let them fly anywhere else in china not even for the chinese new year because they knew how bad this was so they sent the pandemic externally to the rest of us and they limited it within china so that's another reason for their success after this pandemic also of course we're in democratic societies that are concerned about the voters and so we have to be concerned about people's health they're not so concerned in china obviously that i worry about the voters are but now to answer your question about what europe is planning to do there are 2 things europe is particularly planning to do number one is rather than budget constraints and worrying about the economy what they're actually doing is they're encouraging
3:55 am
different countries to spend and they're encouraging that spending and they're also now considering and actually issuing a recovery fund and that will be something like $950000000000.00 in terms of recovery aid to the hardest hit of the countries in the e.u. and also a vandal laden of course was of the european central bank is very correct in saying we're really borrowing our children's futures this is a dire situation to be in because obviously what they're doing is they're leveraging and borrowing against the futures of all of those european countries what you're beginning to see in europe is a lot of civil unrest just saying i've predicted for many many years. and you are seeing the swedish party the independent party really. the advocating that the mismanagement of the vaccine rollout from the central european. commission has been responsible for a lot of this delay which is worse than the pandemic in europe so you're seeing
3:56 am
a lot of dissatisfaction with the european commission that has been predicted for many years and this is coming to fruition now hillary ford was president of strome our global business development so let's and then swan boom bust goes thank you so much for breaking this down and a quick note before we leave today jeff bezos just announced that he will step down as amazon c.e.o. later this year and be released real place by 8 of us c.e.o. andy jessy he will still hold a part of the company as well as being the authority shareholder that's it for this time you can catch boom bust on demand on the brand new portable t.v. app which is available on smartphones a tablet to google play in the apple app store by searching portable t.v. or t.v. can also be downloaded on newer models same so smart t.v.'s as well as ricky devices simply check out a portable dock t.v. we'll see next time. i.
3:57 am
and that i would rather have done are better not out of luck though they're not that i'm not out of the i'm not of the money there's a plan to get it to me. this was a good time to. try to move there i'm doubt of now mom. no knowledge of how little money not why not check jam arrogant ass up for exxon and the all the people who believe just a little bit here. bottom of my case i live out the bubble so johnny what are the other moment i thought of mother having little accusers are there a lot on a bottom of the i can not be old enough to go out to the pimp i don't want to put out another mom which party without all the mother brother.
3:58 am
the world is driven by a dream shaped by the person of those great. dares thinks. we dare to ask. me to move move move move move move move move to get the bill religious near those who really can show you. show that they can just be suitably.
3:59 am
well would that of a surprise go over to the states. no no no the stupina. good to see you sure the. slithering your force where you could be near must of missed me if not that's a good spirit i pity you it was more expedient then you know. if de gea clue. for you to post here to a purpose to move to. a story we lived through they were what is. best to describe the events being played out in the financial markets david versus goliath the rise of populist finance or the corruption of the financial system being exposed again one thing is for sure there is a strong demand to democratize the financial world the little guy demands also
4:00 am
participate in big finance and government allows. chong's take giving it a song to western companies change that tune on russia sputnik the vaccine after leading medical journal publishes a study about its high efficacy we have from the c.e.o. of the fund back in the job when you come by c g f a k c price the logistics you really help what i believe is the best public you the world and me scientists kinds of walt agree meanwhile despite a wave of criticism european commission president on the left refuses to apologize for the bloc flu vaccine rollouts. cop and western nations up quick to condemn a russian ports ruling to jail opposition to god it's a no colony moscow says they should mind that it's not.


info Stream Only

Uploaded by TV Archive on