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tv   Boom Bust  RT  February 9, 2021 11:30pm-12:01am EST

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this is the one business show you can't afford to miss i'm. in washington coming up the world health organization with the pandemic origin that is extremely unlikely coven and the labs we have the latest straight ahead. break from their rally earlier today before picking back up a new record high point and other krypto simply the 3rd dr pepperberg up 1500000000 worth of point on monday have a lot to get to but. we begin today with the latest out of 100 china where members of the world health organization they're continuing to investigate the origins of the corona virus as a group wrapped up its investigation w.h.o. mission team head and food safety specialist he suggested the fire virus likely
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came from an animal. just the introduction to an intermediary host he says. is the most likely busways and one that will. require more studies and more specific targeted research the findings suggest the laboratory. i put disease. is extremely unlikely. scientists have been investigating the origin of the disease for the past 4 weeks and this comes months after arrangements were made between china and the w.h.o. over the probe for more words like trigger to america's lawyer legal analyst molly barrows molly good to see you as always let's start with health investigators are they any closer to knowing exactly where it originated from and how it even started
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to spread. unfortunately not in a lot of ways they're still the same place they were when they started when this current virus outbreak in coven 19 spread around the world know about a year ago now but they do feel like this several week expedition has given them more information away to fill in the blanks and confirm what they already suspected and suggested which is what the evidence says that they've used genetic sequencing to determine that this came from an animal most likely a bat they believe it came from a bat you know in a remote cave somewhere in china so they feel as though they've got plenty of evidence to show that this was not a genetically engineered manmade virus that somehow accidentally or deliberately was released from a lab and are trying to squash that theory if you will in the meantime they're just focusing on gathering more information and they say it's a distinct distinct possibility that this virus actually came from somewhere else before it got to woo han so you know people from 10 different nations they went to the market where the wildlife suspected they handle wildlife and they suspected
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that that's where it spread from but probably didn't actually originate there they suspect it's likely that it came from somewhere else but they just don't know where that is and they're still trying to track it down but they feel like what they've learned so far has has supported that belief that hey this isn't genetically engineered we're on the right track we've just got to continue doing what we know and it's a slow going process but they certainly hope to find those answers exactly where it originated how it spread to woo han and from there make some changes so we don't see this again and they're preparing to see it probably in the future which is why they're kind of investigating as well but at least they're eliminated the fact that they think that it's manmade and that it did actually come from an animal the world health organization has maintained from the beginning that coppa 19 that it spread from animals to people but conspiracy theories they continue to go on what kind of evidence do investigators have that this virus was not actually manmade. you know it's so interesting because you know going back to the genetic sequencing i learned some new terms today that i've never heard before but basically you know terms for
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animal disease that are spread through animal contact and they say that the genetic show that this is definitely a disease that likely spread from bats possibly either directly to humans or maybe there was another animal in that transition you know they found it in frozen animal carcasses they know that this particular strain of code 1000 came from a bat in a remote cave in china and you know it's not unusual for people to go hunting in these caves it's not unusual for them to bring back all sorts of things back to you know to this particular market so they feel that they've got plenty of scientific evidence is just the spread of these theories to political figures so you had high profile former president donald trump that was basically using this is a way to undermine faith in china if you will and the chinese were open to these you know world health organization investigators coming in and they've been asking for them to come in but i do think that in some ways that almost led theory to some of these conspiracy theories that they wanted to cover up information as opposed to
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being open and saying hey i meant check it out we want to know just like you do it's taken a lot of time for even one to negotiate going in and how the procedure process is going to happen i mean it's been nearly a year after it for us originated why why is it so important to clear up these types of conspiracy theories. you know it's interesting i found a study today from a government agency basically that was talking about the various conspiracy theories that are floating around where they came from why people believe them and on some levels it's basically you know anytime we have a major outbreak i think about aids in the 1980 s. there are all these different theories that pop up but you know in this particular situation they say it's important that people all believe the same set of facts because they might not necessarily all want to see it with wearing masks on everybody wants to wear masks or not everybody wants to abide by social distancing because they don't necessarily believe that this is a naturally transmitted disease if you will they want to believe or do believe that it's a conspiracy theory so it's important for people to believe the same set of facts so they can get on the same page when it came stick comes to combating this and
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moving forward in trying to keep the spread of the disease specially because it has become so political i think globally with relationships everywhere the whole vaccine and yeah. exactly exactly affecting policies and we're probably likely going to see it again is as many scientists and experts have have seen some sort of another pandemic in our lifetimes legal journalist 1000000 barrels were out of time but thank you so much for breaking this down thank you so much there. are good struggled into tuesday morning before coming back up the 2nd week of february is looking pretty good for the stock market as investors weigh the likelihood of president biden's 1.9 trillion dollar relief package will decline it's reaching new highs at nearly $50000.00 as the cryptocurrency rally continues but what's contributing to the bullish sentiment on wall street well to answer that and more let's walk. back now to leaning financial group david david thank you for being with us today let's start with the overall markets what are the moving
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targets here are they struggled earlier in the day they're picking back up this tuesday afternoon. you know i think the everything bubble continues i mean you still have $120000000000.00 in liquidity that's coming into the market every month of course you have the bolstered hopes of a return to normal postcode that's certainly helpful but we are at levels that are far above where we were prepared demick so the central banks of the world have fed the melt up dynamics by other asset purchases and that 120000000000 monthly is in line with what the e.c.b. is doing bank of japan continues to intervene directly and so you know the markets are are really more of a casino in this environment i would describe as a speculative mania 7 and a half $1000000000.00 came into high yield in investment grade debt last year there's no concerns about valuations there should be $770000000000.00 in margin debt borrowed from the house because people are so sure they can't lose and so what
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we have we have price to sales ratios which are the highest in recorded history price earnings ratios the 2nd highest ever shiller peak siller p. e. which is also 2nd highest ever the buffett ratio at 195 percent this is comparing market cap to g.d.p. 195 percent highest ever and so you know where are we at and where are we going i think this is it's fair to say this is the the the everything bubble in its in its final stages a lot of small caps of huge rallies that we're thing right i mean the u.s. is accumulating already a lot of debt you know what the general is still on the table and yet not passed and usually inflation isn't a concern not not as much of a concern and as long as interest rates remain low right but many economists they believe that the pandemic we're seeing a little bit different here are we at risk of thing inflation of of that had 2 percent and if so how is the fed going to deal with something like that. well 1st
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of all what is an interest rate today i mean it's not a reality in any real sense of of the market historical reference point for price and relationship to an asset you have the central banks buying down rates propping up the prices of bonds to levels that are just not normally sustainable italian debt cheaper than u.s. 10 year treasuries how's that possible i mean these are things that we have to keep in mind when we talk about interest rates is inflation coming yes we've got him too which is up $3.00 trillion dollars in a $45.00 week period that's 29 percent annualized last week we had the eye of the factoring the commodities price paid higher since 201110 year breakeven this is the inflation rate was sort of gives you an idea of what is coming that 10 year break even inflation rate is the highest since 20182.2 percent and of course fed policy changed last year they wanted to make it a little bit more flexible so now you've got an average inflation target they're
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more than happy to see as president evidence has said 3 percent is just fine and i think what they've done is give themselves some leeway to push the inflation number higher and hopefully not create a stampede into inflation assets inflation protected assets it sounds like it's going to be a lot of leeway when it comes that many people are predicting 4 percent how long it will last that that i mean it we have yet to see it when it gets that because it's only a matter of time before it does i want to turn over the big question though it continued to rally throughout today reaching a new record high it's up more than 45 percent since the start of just the theory now the mean driven doj coin also 3rd about 580 percent over last month that's a huge number is this going to last or are we kind of thing a bull that coin market peak here. it's difficult to call a peak in any speculative mania what was going to be the peak in the tool bold spec speculation or the south sea bubble you don't know until it's finished but what is
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the value of a dogecoin if anyone can tell me that i might be a buyer and if anyone can tell me what the actual use of bitcoin is i understand it's theoretical uses but we're what 1015 years 20 years into development and we don't have we don't have uses well perhaps what we have thought now is going to accept in foreign payment right there that there that you through that you know they may they may have to figure out how to do that how does the buyer step in and what price is paid how do they establish a price the volatility of the asset makes it very difficult to use in exchange from $1.00 product to the other so i would love to see it love the decentralized nature of it but i think this is one of the big challenges for the cryptocurrency crowd is dealing with political issues in the future political risk with crypto currency is is i think the unaccounted for bogeyman it within and it's more than a 1000000000 at it's or it's a real issue with the crypto currencies to the degree that they succeed and become
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a real challenge to ffion currencies you understand the chinese owners the central banks of the world will not stand for it so like what can rogue i have said recently what the private sector and this was specifically in relationship to currency is what the private sector innovates the government regulates and ultimately appropriates that is steals and shuts down especially if authentic to create their own pepto current fair that with a purpose to be centralized and how they might be more regulation will feel hakko david mcelhaney thank you so much for your time today expertise thank you sarah. about the entire economy there's no question the airline industry has been one of the hardest hit earnings are down industry leaders are gearing up to alter some flight path and as work travel decreases will facials are betting on leisure travel to ramp up at least some profits again our 2 correspondents has more on the upcoming changes. well earnings came crashing down this year for the airline
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industry some say the only direction to go from here is up there's little debate among airline officials who say the pandemic has been the biggest crisis the industry has ever faced and the new year so far hasn't guaranteed any relief according to an aviation data company as of january sea capacity on flights remained at 50 percent what's worse some believe business travel will never fully recover thanks to the ease of face to face video conferencing but there could be a silver lining if you see the industry now putting a bigger focus on leisure travel you know people trip school over a year and we've already seen more calm to more people get comparable with you know we've got a lot of work with ministry to show our flying so is the goal is to have more direct flights to vacation hotspots and according to demand there will be more direct flights to florida and less stops business hubs direct flights from the u.s. to international travel hubs like frankfurt tokyo sydney and some polo are also
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taking a back seat united delta and american airlines decided to cut direct flights from new york san francisco and d.c. to london officials say those departing from cities such as boston cleveland milwaukee and indianapolis will be able to get to the sunshine state much faster so far the biggest demands are coming out of places such as fort lauderdale fort myers orlando key west and tampa. mexico has seen a recent spike in demand so now american delta and united are added more flights from new york to baja hawaii will also be more direct flights united is in the process of creating a direct flight from kona to chicago and jet blue is adding service from new york to guatemala city the caribbean is also making the list for more flights delta is on track to bring you back all of its pre pandemic routes and while officials remain optimistic they say there is still a long road ahead we've already lost 10 crew members you're drunk. we've had a lot of our crew members were lost family members so clearly you know our number
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one priority is getting through this haze says jet blue customers will be able to fly between new york and los angeles around mid the year flights to london from the carrier will begin a few months later while the number of overall flights have dropped insiders say bargain hunters are in for a treat prices more portably hovered 12 percent lower both domestically and internationally through the summer officials expect prices to soar again by early next year reporting for boom bust and sweets are tea. time now for a quick break but when we come back and you study shows just how government can influence artificial intelligence algorithm and the problem in this unprecedented time of censorship we have a panel standing by and as we go to break here the number of.
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imagine picking up the future textbook on the early years of the 21st century what are the chapters called gun violence school shootings. first it was my job it was my field it was my savings i have nothing i have nothing it is not. i look for resources i look for jobs i look for everything i can to make this. annoying the doing is. the road to the american dream paved with dead refugees it's this very idealized image i want to make americans look hostile the deaths that happen every single day this is a history of the usa america. internet censorship is happening at an accelerated pace conservatives and progressives are
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mean to monetise and the platform more times than not the censorship was never really explained we are left to assume when the phrase community standards is invoked we somehow were threatening power but that's what dissent gives all about. you know it's true it would seem that there has been a blog but i'll blog. your body in a can matter a canard while nice and about nationality or margaret that should not be an age. understand well you'll someone else like them or because i'm a late night on mobile because for how you. and the machine in the national
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association. said the community is there a lot of it all small so what is. there in the. me that make you feel good. charlotte in the way if there were no money. in my name if you had that. there is no question that we are living in an unprecedented era of censorship but when you combine that with the increasing power and influence of artificial
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intelligence do you create a recipe for totalitarianism well according to wired dot com margaret roberts a political science professor at u.c. san diego and a young a ph d. student there examined ai language algorithms trained on 2 sources are the chinese language version of what a p.t.o. which is blocked within china and by do big. take a similar site operated by china's dominant search engine by do that is subject to government censorship well what the researchers found is that the ai trained on chinese with a pedia represented democracy closer to positive words such as stability the algorithm train on by do break represented democracy closer to chaos well joining me now to discuss has been both co-host. and cyber security expert morgan wright thank you both for joining me today ben let's start with you what does this study mean in terms of language and culture. yeah i don't think that should be surprising to anyone i mean i think that part of the problem is that it was that when people
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think about this thing called a i they automatically think that there's actually artificial intelligence that has it's own form of intelligence it doesn't it's algorithms that are programmed now while they may have some learning capability that's all based on programming and there's someone who initially has to place values and content into that ai for it to begin learning so another example from that same study that you just mentioned is that also there was another you know couple of different kinds of words that were used to compare the chinese with a pita pedia and bite you bake for instance words like election freedom and democracy had essentially you know positive scores on the chinese were competing they had negative scores on by you bake whereas words like surveillance social control and c.c.p. had positive effects on by debate and negative on chinese would pedia more so negative and so i think what's important about this is that people remember that
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when we talk about censorship what we're really talking about are people placing content and information into artificial intelligence and therefore you can really program it to begin to believe whatever you believe as the program or not so much as about this being able to think or feel for itself much of a cultural difference obviously we're talking about here martin and is there a specific warning that comes out of something like this about the power that governments have to influence something like ai in the future. yeah absolutely artificial and the battle for ai is one of the biggest battles right now between russia china the united states many of the developed countries and what we're dealing with 2 forms what we were talking about is really referred to as neuro ai week ai and it's very much based upon machine learning what do we tell it what do we instruct it eventual where this goes and it comes out of 2001 space odyssey if you remember how the computer who told dave he couldn't open up the pod they
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divorce that's artificial gente general intelligence that's a lot of what people think it is that's not what it is and what governments are trying to get to is to that in a sense very powerful all knowing all seeing type of artificial general intelligence and it's used for military purposes espionage economics banking finance things like that so it is very much dependent upon right now what goes into it it's the old saying garbage in garbage out if you program biases into it it will act in accordance with its programming but as it gets harder as it gets better you will see us move from this narrow ai to what's called artificial general intelligence that's where the real danger lies in terms of what ai can do and terms of control over the population how dangerous is it though. look we are programming ai right now into lethal autonomous weapon systems you know there is a lot of research being done in terms of do you put a human in the loop do you allow machines now to determine if we should fire
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missiles or not can you imagine there's a lot of contention right now in the south china sea the u.s. has got warships going through there right now what would happen if a g.i. or if an artificial intelligence was allowed the determined that something was a threat as opposed to using the cognitive abilities of human you could you might accidentally start a regional conflict or a war simply because a computer thought something was a threat were human would look at and say it's not a threat they're just trying to provoke us so that's one of the biggest concerns i see as military not as reliable obviously as a human with a fairly then should the public be concerned about what they mean. well absolutely i mean everything morgan saying is spot on right that you have these these delimiters and essentially what you really have with ai is you have something that's really an ethics dilemma right because even when we get to the point of very advanced ai in the future that will ultimately the goal as he said which is pretty scary the goal of allowing machines to determine whether or not someone for instance is a terroristic threat whether or not
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a target in the me target needs to be taken out or human life needs to be ended because the ai believes that that all begins with the ethics of the creator of the creator essentially is imposing their own ethics and so when you do have this race between china the united states and russia over the control over you're essentially imposing your own ethics into those computers and deciding what is of value and what is not and i think there's a major question here that really is being ignored by so many of these superpowers around the world and it's the question of should we as opposed to can we there is such a rush to get to the can we eventually get ai to do this that they're not asking the question should we be creating ai that can do that's right because ai doesn't have its own ethical moral code to encompass a it's created by the human who with who have working on this technology to that point morgan is there real at the goal dilemma then when it comes to a i because it seems like there is. there is and we could learn
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a lesson from isaac asimov you vote you know people go research and find out he had 3 rules of robotics and that's kind of what we're looking at yeah ethics are a huge issue whether it's the use of facial recognition company b. us called taser or x. are now the big the body cameras and they're talking about should we use artificial intelligence they've created an ai ethics for law enforcement you've got medical ethics and the use of ai in terms of screening for saying so of what ben was talking about what you're talking about ethics is a human issue an element that you inject into things again machines do exactly what you tell them to do they are very predictable except. when we start getting into ai and we start looking at machine learning remember microsoft had to shut off one of its chat bots its ai chat bots because it learned to speak the naughty words you know as samuel jackson said on the commercial it was doing some pretty bad stuff and learned that from watching other people talk so what could happen maybe it's a just a bit you know foul mouth or maybe it's somebody a system decides to shut down banking because it doesn't like the trades that are going on and it impacts one nation adversely and helps another nation you know
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advantageously so there's a lot of issues around ethics about how much and what point should be in the loop to make a final decision before some kind of an alterable action is taken and at what point do you give the humans do we lose control over the ai right. it's skynet you know it's and i've seen this before i've seen the movies called terminator they take over the world you don't know not that that would happen but again people think oh that's just fantasy remember about 85 or 90 percent of what we saw the original star trek movie gene roddenberry has come to pass now well well well keep an eye on this because a i is definitely a huge advancement and a benefit but could be a very dangerous much like where we're speaking about here but co-host pencil on right morgan right we're out of time thank you so much for breaking this down for us and for joining in on the conversation. that's it for this time catch boom bust on the man on the portable t.v. app which is available on smartphones and tablets google play and the apple app
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in the depths. already made in the shallows. the world is driven by dreamers shaped by one person with those great. dare's thinks. we dare to ask. why the pandemic no certainly no borders and is blind to nationalities. has emerged we caught up with the we don't have the facts in the whole world needs
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to be. judged as commentary crisis with this system. we can do better we should. everyone is contributing way but we also know that this crisis will not go on forever the challenges create the response has been much so many good people are helping us. it makes us feel very proud that we are in it together. a new gold rush is underway in ghana thousands of ill equipped workers are flocking to the gold fields hoping to strike it rich here's the good. as they are part of that work children are torn between gold. my family was very poor i thought i was
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doing my best to get back to school which side will have the strongest appeal. the so wednesday's morning headlines tearing the country and a half hours for donald trump's to find the same page when trial in its 1st day in the senate looks set to deepen u.s. divides then after the emotionally charged debate. they tell us that we have to have this impeachment trial such as it is to bring about unity but they don't want unity and they know this so-called trial will tear the country in half. of the raft of conservative voices breaking its rules not to mention fraud in november's u.s. election we'll tell you about. protests break out across france calling for tougher laws protecting children as the country's top court hears the.


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