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tv   Boom Bust  RT  March 23, 2021 2:30pm-3:01pm EDT

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to make a coalition with as many as 12 posses making the incoming government if there is one unstable and short in the last 1520 years there are more and more little parties more parties well the very big the political map so. be very defensible to take into the nation the fact that a lot of people is not good either good to go to paul stations. this one's ability to build a coalition on the everybody. should or should be should be able to make compromise this is the 1st israeli election in the throes of corona watching from the sidelines of the palestinians who despite the oversupply effects of nations in israel have seen precious little of it themselves we are people under occupation and usually under. the occupying forces should be responsible for the has inspired
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of the fact that we have authority but. the is under occupation and even if we are going to buy our own a vaccine we need to consider through the israeli airports or through. border anyway and they are going to check it and. even now it we know that they have more than $1000000.00. left over. there should be a. pressure on israel to access to the palestinians. i spoke with former israeli un ambassador danny danon he thinks that despite all the public doubts 7 netanyahu the likely. the way to looks now it seems that there would be a maturity for the prime minister the last votes for him look very good but he will have a slim majority of the women one senior folks who we can tell you already before we
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got to that the majority of the powder mint would be concerned with how he could be a good shifted to the right by the within the conservative movement you have and i think the small about that i'm not willing to cooperate with the prime minister so the question is what they would do right after the election when they put their best thoughts aside and join the government or that we stay in a position of the left obviously netanyahu has already been in power longer than any other leader in israeli history and italy so some would say he has been a polarizing figure we have seen $38.00 weeks of protests against him so is it perhaps a time to change would another leader perhaps have a better chance of i don't know striking a deal with the other parties to form a coalition that's an amazing question and that's exactly what the citing today going to the polls more than 70 percent of all the 5 coheed and they would decide about that whether they want the prime minister to continue after the feet of the
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youths in office oh they want to see a change and i think we should accept the. even of those who don't like that by mr demonstrated if they lose this will be effectively thoughts and not allowed to continue. in the next few years. that should be used for now boom bust is on the way all that be back here we go next l.t.v. it up takes him 27 minutes to get it. this is boom bust the one business show you can't afford to miss i'm rachel blood and in washington coming up split tells the chinese government it doesn't hard to
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buy for the u.s. but just how much data are today's cars collecting from their driver all the stuff . under the direct threat of u.s. sanctions austria's topsoil and got companies is standing by its word on the retreat pipeline and telling washington to stop threatening and print. the rest of the world series and place in the federal reserve ready to embrace it saying it's ok it's right now is on getting americans back to work we have a lot to get to solicit started. tesla is back in the spotlight as china moves to restrict the use of the company's electric cars by military and state employees but while you're on musk has been quick to deny allegations that tussles cars are used to spy for the u.s. government this conversation has raised the question of just how much data smart cars have the power to collect in the 1st place chinese officials are questioning how much is being documented by tussles cabin camera which is meant to record the
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driver in the moments leading up to a crash or what happens to all about location data saved by the vehicle and it's not just tesla any car with a build an internet connection has the same power that includes information on where you go how fast you drive and even who you call the question then becomes how much of that data is taken in by companies like ford and general motors and what do they do with it in the case of a recent car accident involving professional golfer tiger woods police say they are looking to the event data recorder known as a black box and his vehicle to find out what caused the crash and it doesn't stop there the new study from the washington university school of medicine is low. you know whether that changes your car notices in your driving habits could be enough to diagnose you with all simers disease arguing that sometimes our vehicles know it before we do we're going to take a look at what your car knows and if it knows too much but 1st here's our. with the
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latest on why china is accusing tesla of being a threat to national security. to a tesla c.e.o. in one musk facing new fallout after china's government banned tesla cars from their military bases and barred military personnel from using the electric cars over concerns that the data the vehicles gather could be a source of national security leaks the move coming after chinese officials raised concerns over the cameras installed in tesla vehicles during a security review because they can record images constantly and obtain data including when how and where the vehicles are being used as well as the contact lists of mobile phones saying to them fearing some data may be sent back to the u.s. china moving forward to ban the cars but tesla c.e.o. elon musk says that's not the case speaking virtually at the development forum he said ensuring data security is the responsibility of an enterprise tesla is willing
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to use the highest level of measures to protect customer data security and create a mutual trusting tomorrow with everyone news of the restriction surfacing as top chinese and u.s. diplomats held face to face meetings in alaska at that same forum must urge for greater mutual trust between the world's 2 largest economies saying china and the united states have more common ground than it looks look forward to the 2 countries meeting each other how far away moscow understandably concerned by the move that's because according to chinese officials in 2020 china was the world's largest electric vehicle buyer purchasing $147000.00 teslas accounting for 30 percent of tesla's global sales still though after a testy 2 days of discussions the 2 country. at odds we certainly know you're going in that there are a number of areas where we are fundamentally at odds with the. transactions are drawn with regard to what hong kong the 1st high level talks since president biden
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took office yielded no diplomatic breakthroughs just further fueling an already troubled relationship between the 2 countries while the world's 2 largest economies are seeing their lowest levels in years reporting in new york treated each other as r t. joining me now to go further and up close topic our boom bust co-host ben swan and christiane i christine let's start with you what exactly is must saying and do you think the chinese government believes. well musk is trying to assure chinese customers saying that its data is fully protected following the crackdown saying that no u.s. or chinese company would even risk gathering sensitive or private data and then share it with their own government he went on to say quote whether it's chinese or u.s. the negative effect that a commercial company did engage and i the negatives that for the company would be extremely bad and the risk of being shut down is a very strong incentive to be confidential and that commercial espionage fears have
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been overblown citing the tick tock which was threatened with the u.s. and last year even though the videos were mostly just people doing popular dances so while that was a very good comparison look does not forget how that story that you would continue to try to block tick-tock setting a deadline trying to force a sale of high tech technology insisting that it was for the sake of national defense so while must is drawing a very good comparison and pleading for the chinese government to not make the thing that take it would be naive to think that this time around china would treat the u.s. company any differently and give it the innocent until proven guilty treatment so this move to restrict the 4 central government personnel basically nears the u.s. restrictions on the use of communications equipment made by chinese company fears over how data is handled by manufacture is growing and digitalized cars are now the ultimate ion gadget they're loaded with cameras sensors location tracking enable building connectivity to mask data from your personal device when you're connected and while the u.s. is accusations of always find their currently on founded thing that there's no hard
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evidence of surface to prove that these allegations these concerns over cuz of their fighting real the tesla sentry mode is constantly reporting driving or not as if it didn't it would be able to save the 10 minutes prior to a trigger about so that does leave room for speculation of where all this data is going and who is controlling it so no the chinese government is unlikely to believe that an essentially the bring tech war has a mind cop caught in the crossfire yeah that's a really good point there and we know that the us certainly claims to. care about national security whenever it comes to china and wall way or tick tock so it's interesting to see that argument being thrown back at them now then i want to focus in on these comments from musk where he's saying that if tesla's cars were used for spying in china the company would be shut down altogether what is he trying to say there. i think is make a pretty good point which is that he's a businessman 1st the boat more than anything else and that's the point i think he's trying to make here right is that the folks in china need to recognize that he
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does not have this particular allegiance to the u.s. government and i think honestly if we're going to be fair about it he really has not he's not a stooge for the u.s. government that we know of and he certainly seems to have a lot of conflicts with the f.c.c. he said complex with the i.r.s. he said conflicts over coronavirus lock bells he said conflicts with the state of california he's had a lot of different conflicts with different u.s. agencies so i think what he's trying to say to them is look i recognize that if i were a part of anything that the u.s. government is trying to do it would immediately mean the end of access to the chinese market and i'm putting business before any of that so the case he's trying to make is don't see me the way you might see other maybe tech billionaires who are very closely aligned with the u.s. government and also closely aligned with the defense department of the pentagon that's not who i am so i think that's the argument he's trying to make but as christi said ultimately i think he may end up being the american version of weiwei
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right in that he becomes kind of the catalyst for how a centralized government says we're going to punish this country by taking it out on the private company it's what the u.s. did to wall weigh in and maybe what china does the test and that's a really good point kiran and you're saying that they're focusing in on him specifically when he really has had a career of trying to set himself apart trying to be sort of on the fringes of what's popular especially compared to a lot of the other tech giants here now kristie all of this raises questions about the data collected by a lector goals and what it could mean for monitoring driving and even assisting drivers who might suffer from chronic have declined what do we know so far. so so far there's this new study looking at the driving habits of people with alzheimer's and right now the studies have shown that the driving habits decrease and get carry over time so now they want to know if the inverse is also true can driving data be used to help identify people with alzheimer's and to help figure out who i have
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underlying symptoms or even crease symptomatic people and so the data collected by the smart recalls is going to be invaluable as driving is a very integral part of american society so for the next 3 decades there's going to be a massive growth of the aging populations and driving thomas vehicles will continue to be the primary method of transportation so the ultimate goal here is to understand and and identify who's at risk in that wheel so that doctors can then intervene to help preserve their skills or safely adapt and set new limitations such as restricting these drivers to a cinderella license so that they cannot drive in the evenings. and it all comes back to that question of where does that data go who has access to it and then of course how do doctors play a role in all of that now ben aready we know that our vehicles know much more about us than we might think including this new black box technology to better understand what happened for instance when a vehicle crash takes place is that correct. yeah absolutely in fact maybe one of
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the more high profile cases of this is the recent crash for tiger woods obviously had a very serious vehicle crash it was a genesis that he was driving with his s.u.v. crashed apparently this black box that's inside of it the technology's been around for a couple of years will help to determine exactly what happened and so there are questions that surround that do these black boxes reveal whose fault it is does it apply some kind of motivation i'll fast were you going where you distracted at the time where you won your phone at the time there's any number of different things so i think what we have to look at in terms of that technology where christie said is so true that these vehicles electric vehicles have become really kind of the ultimate surveillance device. because you're really not driving a car anymore you're driving a huge computer that's gathering data it's gathering metrics about you it's gathering you know the speed of which you're traveling in the kind of conditions that you're in how you're handling the vehicle all of those things are being computed and collected at the same time in real time and so these black boxes yes
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they can provide information but they also don't always give you the whole story so what we find is that more and more it becomes an issue of just being monitored and every decision we make being scrutinized by some form of technology and i think for some people that's where it becomes not just dystopian but it also becomes just a little bit frustrating that every part of our society and every moment we're being monitored and watched and had a log yeah most definitely and of course when it comes to those technologies we can say that it's useful of but it all comes down to who it's being used by and what powers it comes with great insight as always bends christiane thank you both for your time. thank you. austria's top oil and gas company oh andy is the latest to pledges support for the north stream to pipeline even as the u.s. continues to threaten sanctioning against its allies in a recent interview the company's c.e.o. said quote this project is of great importance for the security of supply of the
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european gas market it is therefore europe's responsibility to the side we have a deep trans-atlantic friendship with the u.s. for decades and friends shouldn't threaten each other oh and the is one of several companies working with russia on the landmark pipeline as secretary of state tony blinken continues to warn that any entity involved in the north stream too could be hit with u.s. sanctions and should immediately abandon the project which is now more than 90 percent complete. speaking of cross country trade the 1st releve road to link the us canada and mexico could soon become a reality following a 25000000000 dollar merger between canadian pacific railway and kansas city souther in order to fund the transaction canadian pacific has pledged to issue $44500000.00 new shares and to raise $8600000000.00 and debt it would also assume $3800000000.00 of kansas city's debt the company expects to have about
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$20200000000.00 in outstanding debt when the deal closes and now it's up to u.s. regulators to give their stamp of approval. time now for a quick break but when we come back the covert 19 vaccine from astra zeneca how did share of controversy in europe over the last week what does the latest study from the u.s. find out we'll tell you next and as we go to break here's the numbers. seem wrong. to shape.
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and in. the trail. many find themselves worlds apart if we choose to look for common ground. humanity has never seen such strange natural phenomena before giant cletus appearing in the mountain in. one after another. let's never forget you said you. get your foot you know limb does look we don't have a chance you would be up to. this one appeared in 2020. how often when you create. a discussion of how dangerous the human. is different than when they did 2021 russian scientists came close to working out
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what's going on. they built a full scale 3 d. model of the black hole. vaccine study conducted here in the us delivered good news to astra zeneca after a week of controversy this all the drug temporarily suspended in countries across europe according to a safety and efficacy analysis asters that it goes covert 19 vaccine is 79 percent effective in preventing symptomatic illness and 100 percent effective against severe disease and hospitalization the study involved more than 32000 participants across 88 trial centers this study aims to give more credibility to
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a vaccine which has been criticized for the ways in which data was reported in earlier trials as well 7 as questions over whether it was effective in older adults the drug was also suspended by governments across europe last week over reports of blood clots and patients many have now reversed their bans after health officials said there was no direct link astra zeneca is expected to apply for emergency authorization from the f.d.a. next month which was set back seen up for delivery in the u.s. . the approval by the f.d.a. we will instantly release and the live its 3060000000 doses in that phase and then in the same lines another 20000000 so in the 1st months of us a we will live to 50000000 and also that's on every issue we will deliver 15 to 20000000 doses. for the americans based on the contracts we have with us governments.
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while the fear of inflation remains high around the world with other countries watching rising bond yields in the u.s. here in washington the federal reserve appears to be focused on achieving full employment leaving many to worry that inflation could be here to stay our ways for a few years as one reporter noted quote it is taken for decades but the federal reserve has finally shaken off its fear of inflation the markets are only just waking up to the implications of that shift so that it was a doctor or n.z. c.e.o. of openness i think knock tabio been new message from the fed seems to be that it's ok if there is some inflation and if we do see a rise in prices as long as americans are getting back to work and the economy is moving again is this the right focus to have right now. well i think the fed has had a pro inflation stance for quite some time
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a few decades at this stage they've always said that inflation targets around 2 percent and that's with a danger of some how they think that that is the optimum level and that you are optimized employment and optimize output by doing that now to understand that you have to read milton friedman in one of his most boring books monetary history united states i don't recommend it it's about as interesting as a telephone book and it doesn't read you should much like and why he believes what he believes rather than he empirically saw it but anyway so that that is been that the cornerstone of fed thinking for quite some time for a few decades certainly since the mid 1960 s. and i think of central bankers around the world that have a certain inflation target and 6 now it's possible the fed is basically saying well we're going to countenance slightly higher inflation than 2 percent and we're about $1.00 right now we're still below their target maybe tolerate going a bit higher before they turn the taps off i think that's probably what they're saying they really want to see this economy go return to normal and saw growing against that's really what they're most concerned about yeah i know we have a lot of why is the words from researchers and economists over the decades but this
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is why we have people like you on our show to make it interesting for us and bring us all up to speed now it's interesting because we have watched the markets continue to ride high over the last year and much about it seems to be tied to the speeches we keep hearing from powell assuring everyone that the fed has things under control especially if they're a chance of just stock markets starting to reflect the realities of the american economy any time soon. well i think it's not so much powell speeches it's been more his actions so if you remember what happened to sort of early part of the covert crisis markets were sort of freefall and power was out there saying we'll do whatever it takes and we'll put in 10000000000 and we'll buy 10000000000 in corporate bonds more by 50000000000 of commercial paper or more by government bonds and none of these things had an impact on the market so you have to carry on coming up more and more programs are throwing more and more money at it and finally said trillions and that seemed to work so then the market so it wasn't
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so much for speaking but actually the real programs and policies it put in place and and sort of this notion of liquidity that he leaked and that's really what's kept markets going and i think at this stage we see certain sectors of the market wildly overvalued if you're tech stocks and things that sort as a direct result of that so you sort of seen bubbles form all over the place and that's what happens when you have very easy monetary policy yeah that's a really good point and we really have seen the market reacting in a number of areas over the last year now speaking of the federal reserve they also confirmed that they plan to end interactive capital requirements for big banks which has put in place which was put in place in response to the pandemic now we saw a mixed response in asian markets on monday but how is the rest of the world viewing the u.s. and its policies right now. well i think the easing restrictions on banks so they could lend more didn't really have the impact that the fed was hoping so if you look at consumer lending it came down during that the pandemic commercial lending
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shot up quite shocked at the beginning as corporations drew down their emergency standby lines of credit because all my god what's happening we need to have a cash cushion but soon as things are stabilized again you see all those things come down so that despite the fact that banks have seen a wall of deposits come in so a lot of consumers have taken the money they've saved it we've seen saving rates go really high and they just deposit their money in the bank and so deposits went through the roof and so banks really have the ability to lend out a lot more they have the reserves to do that they simply haven't been able to find the people to lend to the credit worthy borrowers to lend to will the people want to borrow the money so that's been the constraining factor not so much this little rule of the fed is tweeting with so i don't think will make much difference overall yeah and it is interesting to see how consumers have handled their money especially over the last year we know that the travel industry has been hit particularly hard by a lockdown measures and at the same time you have consumers that are not only facing lockdown the not wanting to go on vacation but also concerned about whether or not
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they're going to have enough money to put food on the table all together now when it comes to that travel industry we know that cruise lines specifically employed nearly half a 1000000 workers they're now saying that they're fearing another last summer i mean even in cases where the ships are up and running they are still facing different restrictions from different countries of course so why does long term impact for both the current line industry and the overall sort of travel leisure industry as a whole. i guess i always wondered what kind of people go on cruise lines and sort of turns out to tense a bit a slightly older generation typically sort of retirees who do that and i think those kind of people going to be more concerned about that than most other retirees in the sixty's and seventy's who are typically but mainstay customers for those those companies are pretty less likely to jump back in the in the wagon and say ok we're going to start traveling again now so i think the cruise line industry is
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going to have a bit of a difficult future even if things return to normal but there's no real sign that they are i mean there's indications in the u.s. that have but look what's happening in most of europe we've got lock downs everywhere. cases a surgeon going with variance all over the place it doesn't look like this is ending any time soon so i don't think the cruise lines will recover even if we see things go back to normal and i know as well there's been a lot of talk about consumers investing their money in different stocks wanting to get in the stock market whether that stimulus money or otherwise how do you think consumers spending that money if they're not spending it on wheels or are they saving it and just making sure that they can survive. i think that's what we've seen we've seen the savings rate go through the roof so people are setting that aside which is absolutely the right thing to do if you're in such an uncertain environment we don't know what's going to happen really you know you shouldn't be out buying things or remodel your kitchen and things that i mean should be investing in real estate in the stock market or just saving it so that seems to be the absolutely rational thing to do that we've seen happen and as long as it's on so she continues we should see that carry on so it's been actually quite impressive
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you know americans were known around the world for being really miserable at saving suddenly turns out they can actually save 20 percent of income it's been an extraordinary. you know 1 it only took a global pandemic to figure out our excellent points against it or here are tabio marandi thank you so much for your time. thank you. and i see for the 1st ever tweet has sold this tweet by c.e.o. jack dorsey saying just setting up my twitter that's it went for $2900000.00 worth of a theory of before the auction ended on sunday dorsey said he would convert the proceeds to bitcoin and donate the amount to the charity give directly the winning bid was made on the 1st day of the auction but no other better decided to top the offer over the course of 2 weeks as part of the non fungible token craze collectibles such as crypto punks and artwork by artist people have gone for millions more i
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know a lot of you are ready to get on in on that craze but some of those bits have been awfully high well that's all for now you can catch a boom bust on demand by downloading the portable t.v. out for your apple or android device we'll see you here next time and as always don't forget to question more. ties or more of my guide to financial survival this month it's a device used by professional scallywags to earn money. that's right these
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electrodes are simply not accountable and we're just. totally destabilize the global economy you need to protect yourself and get in for. as we. are to. headline news president putin receives a russian made vaccine against its covert the kremlin says he's in good spirits and ready to get back to work. germany imposes yet another covert lockdown after a surge of infections while the health minister there is caught up in a scandal over a lucrative facemask supply deal. frustrations boil over in france britain and beyond over a relentless pandemic restrictions with many saying enough is enough. we are fed up we no longer wish to stand on we are a little lost it's all a blur the thing is you call this rick's life so much we are here in castle today
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because all the measures that are being taken here.

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