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tv   Boom Bust  RT  February 6, 2021 1:30am-2:00am EST

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i mention him the national association. for the house said the community there's a lot of it all small in the middle but so what is. there. none of those in this town of you in the media of me going to. the toilet and now i have no one on my. team i mean you have to. this is a boom bust but one business show you can't afford to miss
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a bunch of boring washington coming up congress is at odds over a new coronavirus stimulus bill from president joe biden but what part of the pro pot proposal are most contentious and the stimulus debate comes as the u.s. vaccination process has hit a snag but new players could help in the not delay should process and later with what the lockdown still ongoing the video game sector has been a surprising winner in the market as millions have turned to the hobby to pass the time in quarantine but can the momentum be sustained back show today so let's dive right into. it with the program in the united states as congress has approved a budget bill paving the way for president joe biden's $1.00 trillion dollar coronavirus relief package vice president kamel harris cast the tie breaking vote on the measure in the senate in the early hours of friday while the plan cleared the house of representatives later in the day friday afternoon president biden spoke in support of the legislation. not cutting the size of the checks they're
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going to be $1400.00 period that's what the american people were promised very quickly here's the rest of my plan it is money for food and nutrition so that folks don't go hungry hungry i think our republican friends are going to support that and extends unemployment insurance which is going to run out on march 13th of this year to the end of september of this year my plan creates more jobs creates more economic growth and does more to make us competitive with the rest of the world too many people in the nation have already suffered for too long through this pandemic an economic crisis and telling them we don't have the money to leave you to suffer to get to full employment sooner to vaccinate america after aid trillion dollars in deficit spending over the past 4 years much of it having gone to the wealthiest people in the country. is true nor necessary. so beyond what we just
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heard from the president there what exactly is in this bill to break it all about let's bring in boom bust cohost bad. so bad i want to start with what is actually in this package beyond what the president just mentioned $1.00 trillion dollars that's a lot of money. yeah absolutely as a lot of money just a couple of specifics on what he talked about because you heard the president there talking about for instance these direct checks $1400.00 in direct stimulus payments that's on top of what's already been sent out now what's important about that is democrats it looks like may really limit who gets those checks and really keep them to low income families and middle income families that wealthier families would not be receiving those checks so that still has to be figured out but it looks like it would be the case also he mentioned about extending those federal jobless benefits through september through september of this year the price tag for that's about $350000000000.00 would go specifically to that project and extending those jobless benefits in addition to that we're talking about $170000000000.00 specifically
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going to k. through 12 education centers which a lot of those of course have been shut down and then there's also money being set aside for higher education as well and then $20000000000.00 is going to the national vaccination program in order to get more people vaccinated so yeah it was $1.00 trillion dollars is an incredible amount of money that we're talking about here and the fact that democrats did it in the way that they did go into the senate 1st getting those votes and then sitting that back to the house is not the common way of doing it but it allows them to bypass this thing it in slow down at this point it looks like it's going to be enacted into law very quickly and republicans actually use the opportunity to force democrats to vote on politically tricky issues some with little connection to the coronavirus or we see it in almost every bill that's passed in congress what were some of those issues yeah they're really pushing on issues for instance the federal minimum wage issue they're pushing on that they're pushing on some of these issues about school and about specifically
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teachers and and money going to schools in particular 'd where the teachers are not going back to work because they're waiting for vaccinations so why are the schools getting the money they're also pushing on whether or not in nature will be receiving stimulus checks and whether or not. they would be illegal or undocumented immigrants who are coming into the country who are getting benefits as well so they're really pushing on those issues which as you said a lot of that comes back to the next election cycle so they can use them in campaign and oban quickly before we wrap up here we tell you just much of minimum wage it's been kind of characterized as dead but that's not exactly the case what's going on there yes so what is the republican who pushed to say listen as long as we're in a pandemic there should be no increase the federal minimum wage actually senator bernie sanders agreed with republicans on that and sided with them and they have ultimately stopped the minimum wage hike from coming but remember that that bernie sanders has pushed for this over the next 10 years 5 to 10 years is what he wants
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to see in terms of the federal minimum wage being gradually stepped up so it doesn't eliminate that plan it simply goes along with the plan to say it's more of a step up process not something that you do overnight and certainly not during a pandemic when so many small business owners can pay their employees as it is now 2 months co-host ben swan thank you so much for following the story thank you. and global markets this week are mostly up on good vaccine news and positive sentiment over that u.s. relief package we just talked about so let's see where things ended up starting in russia is up this week the russian economy faced its worst contraction in more than a decade at 3 point one percent but this was still much smaller than most major economies there are still some concerns of possible sanctions over the rest of russian opposition leader alexina volley moving asian markets the shanghai composite it is barely in the green the index was down and out of the show china's
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services sector slumped in january investors are concerned of high liquidity tension ahead of the upcoming lunar new year holiday in hong kong the hang seng it is also up with the tech sector playing a big role my 2010 cent shored up the market on mainland fund purchases why show technologies soared nearly 200 percent on friday as the stock made its debut on the index the nikkei in japan it is also in the green up one percent higher on friday on upbeat wall street earnings and a possible u.s. stimulus package automaker stocks rallied on the news that apple is in talks with an auto maker for that apple car in india the sensex it is up hitting record highs this week better than expected december results and a status quo in policy rates helped investor sentiment banking metal and pharma led those gains the nifty 50 index well it also hit new record highs above 15000 in australia it is also in the green finishing the week up 3.5 percent i.t.
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industrials and financial sectors all led those gains in south africa all share it is also up this week the nation's health minister announced on friday the country had secured a nuff covert 19 vaccines for at least 26000000 people it already received its 1st shots of the after zeneca. seen from india this week let's move to europe and the americas where we're seeing pretty much more of the same the footsie in london is in the green this week the bank of england left monetary rates unchanged but is preparing for negative rates in the coming months focus remains on the koven $1000.00 vaccinations in the region the french cac the german dax they're both up as well despite we conduct data out of germany the country stocks saw a little change us to miss optimism remains key here the drug regulator also said its excess assessing data on therapeutic anybody treatments for generosity and eli lilly moving across the atlantic in brazil the evil vest but it is of following
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positive sentiment around the world positive vaccine news from u.s. drug maker johnson and johnson also helped push sentiment up in mexico moving north to mexico that is to say be a v. is barely up this week with coburn 1000 cases still surging president under a cement well lopez obrador he said he is recovering from the virus investors continue again to watch the u.s. emulous you're seeing a trend here obviously and here in the us all 3 major indices the dow the nasdaq and the s. and p. they are up despite a disappointing jobs report friday stocks are seeing their best week since november with the likelihood of more stimulus this week the dow gained more than 3.5 percent while the s. and p. and the nasdaq they rose 4 and 5 percent respectively so it appears that that rhetoric game stop surge that we've talked so much about and heard so much about in the news well it has not weighed to have only on markets finally the ts sex in canada it is also in the green on higher oil prices and opec's decision to stick to its output cuts the energy sector climbed 1.2 percent while investors are also
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eyeing u.s. stimulus so looking into next week we're going to keep an eye on several factors here global vaccine rollouts stimulus and volatility in the markets and that is a global market walk. the european union's top diplomat has called for russia. to be approved for use in the $27.00 nation bloc during a visit to moscow just a. minister for foreign affairs spoke about how the approval could go through the back up. i am very happy to. explain the performance of russia. and now i am hoping that it would be and.
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will be. certified. of the. state it will be a good name because as you know. we are going to. put it. and earlier this week data regarding the 2 shot vaccine was really showing it was more than 91.6 percent effective against symptomatic opened 18 protects against severe cases of the virus the e.u. has secured more than 2000000000 vaccines from various developers but only 3 a bit approved for you so far so with all of this in mind let's take another look at the state of the vaccine rollout as well as the trends and spread of the virus with our t. correspondent science habits are where are we friday so brant in the u.s. currently more than 150000000 people so most half the population there eligible to be vaccinated now that doesn't necessarily mean that could get access to
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a vaccine since each state makes the final decision about who goes 1st now if the country if damon tain its current pace of administering 1st dose says because right now u.s. is administering about $1300000.00 doses per day on average says long as they maintain $880000.00 doses pre-date about a half of the population would be at least partially vaccinated around early july and nearly all around early december now that's assuming supplies are met and vaccines are eventually available to children brant and most are globally who is leading this vaccination rates that we're seeing well you know let's take a look right now israel's they lead globally 30 percent of his release have received at least one dose of a vaccine at that and that's a rate that outpaces any other country but it's also important to note that the
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vaccination rate does not include the palestinians and the occupied west bank and the gaza strip now they have to wait several more months for the vaccine then they u.a. e. they also have the world's highest vaccination rates 25 percent using the chinese company sooner far maxine which has not been up. proved for us in the us or the european union and then in the u.k. more than $10000000.00 people have gone at least one dose of a vaccine so about 15 percent of their population now the us is far behind with about 8 percent of resiting haven't received a vaccine dose not countries their european union are off to even a slower start now china is much further behind china has so far administered more than 31000000 doses 2nd only to the us with nearly 35000000
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shots yet for a population of 1400000000 china has delivered a little more than 2 doses for every 100 people compared to 3 in their european union 10 in the us and nearly 60 in israel and at the current vaccination speeds right here that we're seeing china they're going to reach a herd immunity only in 5.5 years compared to 11 months in the u.s. and 6 months for the u.k. brant china's develop their vaccine and some countries have bought what we know about this well of clinical trials ever so far showed that soon a farm has an efficacy rate of 79 percent now vaccines made by c novak has efficacy rate of just over 50 percent now that level is just a hair above the trash hold set by the world health organization 2 x. 3 actually consider a vaccine affective now
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a few announcements that have come out suggests that china's vaccine while considered effective cannot stop the virus as well as those developed by pfizer during a button since cinna farm and as sort of back since they can produce up to $2000000000.00 doses per year combined this does makes them essential to the global fight against the virus and. 24 countries most of them low and middle income they have signed deals with the chinese companies but only mostly because the as the only vaccine that they have access to and the richer nations have claimed most of the doses made by pfizer and i during our brant are to correspondent side tabular thank you so much for keeping us up to date and time now for a quick break here because when we return of the gaming sector it skyrocketed amid the pandemic but the biggest names in tech have struggled to gain footing going to break it all down as we go to break through the numbers at the close all green arrows across the board.
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secret prisons and usually what comes to mind when thinking about europe however even the most prosperous can be deceived with 0 song there were too few houses were . preserved was located and the only people had access to the story investigators covered the darkest dealings of the secret services but i mean. in. justice.
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no it's true i would say that and then there was the able but i don't. know your own body and i can not or cannot who are now i am about nationality. and i know you. just as well
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feels on my heels i belong to them that i was able to have an eye on my public eye for how you. and the national association. must know how to set the community there's a lot of that all small in the middle but so what is. there. not a few of those in this town of you know no i mean are we going to. the taliban now if they want to live. in my memory if you had the. welcome back in reporting 4th quarter results american automaker ford announced it would increase its commitment to electronic electric vehicles the company said it would invest $29000000000.00 in electricity like trick and autonomous vehicles
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through 2025 ford had previously promised 11500000000 for e.v.a.'s 22022 they made that announcement last year during the earnings call ford c.e.o. jim farley said quote we reached one out of 10 vehicles sold in europe in december the pure electric evey's sales in china continue to grow and the reality is that customers including in the u.s. are increasingly giving emo billet a greater consideration we have no intention to. seed ground to others now the company recently released the electric must thang mach easy its 1st t.v. in recent years so it raises a question about the state of the global evy market now through the 1st half of 2020 tesla accounted for roughly 18 percent of the global evie market with volkswagen just behind them at roughly 12.5 percent interesting lee evey's only account for 3 percent of that company's total sales are no nissan holds roughly 9.5
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percent of the global market share in evey's followed by hyundai and b.m.w. which are both around the 7 percent mark now g.m. is actually further down the list but is making inroads selling the most evey's in china in the 4th quarter of 2020 saying last week they hope to sell nothing but emission free vehicles by 2035 so it's not clear whether ford is actually looking to make a more affordable model levy as the mustang maki starts at $42000.00 u.s. the lowest price for electric vehicles on the market start at roughly $30000.00 putting them more in the mid range price rather than a car for everyone. and earlier this week tech heavyweight google announced it would be shutting down a division of its video game streaming service daddio which is dedicated to making exclusive games for the platform study of vice president and general manager phil harrison released a statement on the decision saying the teams will expand quote efforts to help game developers and publishers take advantage of our platform technology and deliver
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games directly to their players now while study it will continue to work with 3rd party developers shutting down a studio that could create exclusive content for the hardware means their hopes of competing with gaming mainstays like sony microsoft and intend are diminishing meanwhile newly minted amazon c.e.o. andy jacey's sent out a company e-mail earlier this week expressing a commitment to amazon game studios despite previous missteps so for more on all of this the 2 worlds biggest tech company. struggles in gaming and other gaming related news well let's bring in used when drawing in is an entrepreneur and video game analyst and author of what up creativity competition and the global business of video games used to it's great to have you on as always the 1st question i have is about this story we just did why has a majorly successful tech company like google had such a hard time making inroads in the gaming industry when just 2 decades ago microsoft was able to step in when many thought they might fail and now they are one of the
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leaders in the sector that's a question and my take on that real quick would be you know google is coming at this from a in a in a moment when the in she used to do a service model back when microsoft was doing it you could sell boxes you could sell packaged software in a very different context you could do today so today we have 3 major incumbents to tend to microsoft and here comes google who becomes amazon facebook's trying to then there's apple that is ample arcade kind of doing a thing to something the market is really full of substitutes or old you know competing with undifferentiated content in a very large you know with these large budgets i think also what it comes down to google and amazon is that culturally it doesn't quite fit for them they're historically neither of them very strong with content and so for a google or facebook for that matter to really be coming out against swinging with proprietary 1st party exclusive content that's a really high bar to even they can't match well and so you can you measure the
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amazon there because while google is giving up that development as i was actually sticking with it after not having a game in the 6 years they've been trying and having to continue to lay highly touted games and had actually a few that did release that bombed as they say why are they having such a hard time with the same kind of same situation we're seeing with google which is if you're not in that gaming sector if you don't do this for a living if you don't have that passion you're just trying to cash in that's really not going to work for you. that's about right right so the oddball gaming division is such a large empire i think it's exactly where things don't work out well so amazon is of course a very administrative bureaucratic machine that you know to get things pushed through you need a 6 page memo as we all know to sort of base those minute method for making decisions and all that and while that works really well in say it's logistical business and it's server components but you know when you're dealing with a creative group like a games group i think that's
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a very different thing about so so often do we hear about entertainment industries and creative organization creative firms and they don't really quite fit into that mindset you know a world of spreadsheets memos and so on so i think it's a cultural difference at the top and then you know you can have all the resources on the discern but they still need to capture the magic so to put it differently i think it's been you know this year's been a really interesting case study in terms of the thesis that it's much easier to become a content for and that's created distribution than it is to be a distribution firm that's going to content and so i command amazon to sort of stick with it like crucible was obviously a disaster or you know these big production bits and i have to say a lot of very talented people both at amazon and google you know friends of mine that have joined from publishers and game companies to go into these large companies and try to build something new and innovative you know it just doesn't work and i think it has a lot to do with sort of the larger corporate culture around it so you end up
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asking yourself these questions like how much money does it take and it's i don't think that there is a price that it's one of those things that money can't buy and oh yes i want to talk about some of these big players sony said this week that they had shipped $4500000.00 playstation 5 in the final quarter of 2020 which makes sense of course it came out in november we could all admit it would have been much higher had they had the inventory to keep up with that demand but they also and out they're taking a loss on the council as it costs more to produce than they can actually sell it for this is but along as you would counsel is if you follow the industry every time a new counsel is released they generally aren't being sold at a loss how does that make business sense to sell it as a loss. well so this is this is one of the fun components of the game since you have to see about so the thing to understand about the consul the conventional counsel business where he's still talking about a platform or a device that sits at the center is that it's a razorblade right in the same way that you get the razor the actual seeing for cheap and then the blades cost money and that's what you spend money on of course
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your life to say to games as you take a loss is a manufacturer on the box itself people will pay back and your profit will be in the sales of software so what's sony has done with this iteration is really interesting if you look at the financials in the breakout you see that they've made about 500000000 packets could software boxes that you buy a 3 day at the game stops and the best buys in the world they've made about 7 times as much from digital content that means both add on services and sort of adam content and for him dollars as well as you know play station now they have about $48000000.00 people signed up for playstation plus which is a remarkable install base for a council company so for all those reasons they've been able to offset the initial expense and investment of the value of the billions of dollars that go into making a council successful by offsetting its services and digital content so that's really how they've measured do it but makes it interesting i think in the context of google and amazon is that is 10 years ago we would have this conversation and we
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would say well councils are dying you know the definite consuls imminent it's only for kids who could buy they've managed to futureproof themselves by adopting to a digital environment and they've done it in such an opportune moment that not even amazon google can take any market share from them i mean it's amazing in your breadth of knowledge used to fantastic you spent drawing it videogame analyst and author of what up thank you so much for your excellent insight today thank you both it's always a pleasure. and that's it for this tar you can catch boom bust on demand on the brand new portable t.v. at which the vailable on smartphones and tablets and google play and the apple app store by searching portable t.v. you can also be download a new model samsung smart t.v. what was. roku devices are simple just check it out a portable battery t.v. see you next time.
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look at the bill daley queue sneer those who really can show. they can just be suitably. left with i suppose you noticed that i stated something that. you know none of it is to play in a bowl episodes didn't go to see you joy the she's the slayer doing your force where you could be near my stuff in the street if not thoughts about spirit i put it was more sinister experiment than you know. if de gea could read which. shows the stress of school issuance for you to post the a top up by some sort of move to willow's rest of. the story keep lists they were
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but it. is your media a reflection of reality. in a world transformed. what will make you feel safe. isolation for community. are you going the right way or are you being mixed up with. direct. what is true what's his face. in the world corrupted you need to descend. to join us in the depths. or a maybe in the shallows. of
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. the headlines this saturday as the path between the e.u. and u.k. depots says the u.k. 6 there was a french vaccine before frogs after my crohn's government fails to fund it locals are very. it is a shame for us we have missed a good chance in france it's oil would have the right words is given to the united kingdom of england is better managed because it has been liberated from the european union will the government and europe are feeling get everything. but times call for desperate measures has been there an italian town issues in order banning residents from getting sick because they have no doctor. i did it as a provocation on it it's my ruling can.


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