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tv   Boom Bust  RT  April 14, 2021 1:30pm-2:00pm EDT

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the telling us called beach and its similarity to the english insults triggered facebook's content alarms despite the error being flagged it still took the social media giant a month to restore the tones page that prompted other places where potentially offensive names to change their way their sites are titled while a liberal studies professor we spoke to believe the story has exposed an issue with facebook's so-called safety systems i'm not sure exactly will there it's the algorithms in all cases or whether it's human error but in any case it's very common that they're deleting and. cancelling out all kinds of posts and pages on a regular basis so it's not uncommon at all they have a heavy editorial hand and they think that they they can use their own discretion about matters that they know nothing about for example the pronunciation or the name of a french via so they're just you know acting as if their own mission if they prove
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if they'd put it aside beats pretention. missions then we'd have a much better. a reminder for up to the minute developments on lashings of opinion to give r.t. a follow on twitter you will be bored i mean in the real. world is driven by a dream shaped by. thinks
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. we dare to ask. this is boom bust the one business show you can't afford to miss and washington coming up the united states has called for a pause in the use of the justin johnson coke at night. due to blood clotting issues we'll have the latest plus big oil has hit another record high ahead of the coin base i.p.o. this week we have a panel of experts on hand to discuss the future of the world's most popular cryptocurrency and later new data shows us consumer prices increased in large as inflation remains in focus back show today right in.
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and we lead the program here in the united states of the centers for conceit disease control and prevention and food and drug administration have called for a pause in the use of johnson and johnson's one dose coping 19 vaccine now officials from both organizations held a joint media call tuesday morning to discuss the situation there had been 6 reports of a severe stroke like illness linked to low platelet count. and more than 6000000 doses of the change a vaccine has been it ministered bottom. very rare we're recommending a pause in the use of the j. and j. covert 19 vaccine in order to prepare the health care system to recognize and treat
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patients the crew quickly and to report to be the best they need to be seen in people who receive the change in vaccine. for their part johnson and johnson released a statement the same morning saying they are aware of the clotting issues and promising quote the safety and well being of people who use our products is our number one priority adding we have been working closely with medical experts and health authorities and we strongly support the open communication of this information to health care professionals and the public johnson and johnson also said it will proactively delay the rollout of the vaccine in europe as it reviews these cases with european health authorities and for more on this let's bring in our correspondents have a. brand just like we heard on that c.d.c. audio track the pause in johnson and johnson single does call that vaccine comes as 6 recipients experience a very rare blood clot now all 6 are
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a woman between the ages of 18 and 48 and all developed the illness within one to 3 weeks of vaccination now one of the 6 has died and a 2nd is currently hospitalized in critical condition but health officials are stressing that these are all very rare and rants and if you take a look at how many people so far have gotten the johnson johnson vaccine which is close to $7000000.00 we're talking about one per 1000000 and when you give millions of doses of vaccine it's rare side effects like this just can't be identified in the clinical trials because if you didn't have millions of people in rolled in fact in the phase 3 trials of johnson and johnson there were a little over $43000.00 so while according to the c.d.c. 75 percent of the during as recipients are. port of side effects compared to 65 percent of the pfizer recipients none have been very serious or i should say life threatening which is why only the johnson and johnson is being currently pause
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while health officials further study these side effects now what does this pause mean for anyone currently registered to receive the johnson and johnson vaccine this means all federal health channels of vaccination sites community health centers and the like will immediately stop administering the johnson and johnson vaccine now the c.d.c. and the f.d.a. are recommending that states through the same but it will be up to the individual states to make that decision because they're giving a complete separate allocation of those says and brand given the fact that the vaccination program represents the greatest hope to end a pandemic that has claimed over 2000000 lives in a worldwide including within 500000 americans and many were hoping that the pace of the vaccines would even act should say would even further accelerate those efforts but the big question is will supplies go down given the fact that johnson and
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johnson will temporarily be halted now the white house says that it won't. let me start by saying that this. announcement will not have a significant impact on our vaccination program. that scene makes less than 5 percent. of the more than a 190000000 recorded shots in arms in united states today. and i should say the u.s. is not alone here south africa there also suspended the rollout of the johnson and johnson vaccine meanwhile johnson and johnson says it's also delaying the rollout of its vaccine in europe and compared to the u.s. you know we have 2 other vaccines that are pfizer europe doesn't have that same opportunity there they're only dealing with the astra zeneca so they were really hoping that johnson and johnson was going to add to their vaccination efforts which
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is a further blow to the e.u. which not only has been overwhelmed by supply shortages but also concerns over blood clots in a small number of people who receive the astra zeneca vaccine now while the astra zeneca vaccine isn't in use in the u.s. the blood clotting is connected to how the johnson and johnson vaccine is it a den a virus a vector vaccine the same type as the astra zeneca vaccine brant or 2 correspondents are it's ever thank you so much for following all of this. and just one day before the coin base i.p.o. big quinn has rallied to another all time high breaking above the $63000.00 a big win continues to grow leading the overall cryptocurrency market capitalization to hit an all time peak of 2 trillion dollars earlier this month that's according to data and market trackers coin get go and block foley is joining . us co-host sam crypto analysts ben swan and christy i
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chrystia i want to start with you is there actually a correlation here between that coin base i.p.o. and big wins new all time high. absolutely economists it's one of the main gateway companies that allows for u.s. citizens to buy crypto with the currency and as such coyness is the largest crypto currency exchange in the u.s. even though there are numerous other chains around the world considerably larger trading volumes and thus because of that its business is built almost entirely on the performance a bit coin and it's and thanks to this recent rally this has reported it 1800000000 dollars worth of revenue in the 1st quarter of 2021 so with this i.p.o. this has in a way legitimize krypto to wall street and to main street as well because an encrypted used to be viewed as these french assets that no one really understood and now it will debut on the nasdaq financial now use of $100000000000.00 so there are actually a couple is this could play out so firstly you have a ton of early investors in coin base those who are part of the see the series
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a.b.c. venture capitalists who are finally getting an exit after waiting around for a decade or so after they cash out of quite a maze and get that big. what's next u.s. equities or frothy treasuries don't look that great emerging markets or kind of shots so where else to park their assets but back to somewhere in crypto and maybe because reinvest it secondly now it's listing on nasdaq at the valuation that legitimizes the whole industry so corporate institutional have to start paying attention to crypto or else you respond left behind and new economy calls us this crypto economy which is a software power tool of payments trading peer peer transactions using block change so as a script economy starts to take shape and become a reality companies are going to have to start following the footsteps of tesla and micro strategy and start participating or risk becoming irrelevant again contributing more towards a stick went to man and finally when bates is now making
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a very public very flashy splash across the page so if you've been living on a rock and never heard of point based you have now so many tell us again never heard of quite well and. this will likely generate new interest new customers for a new wave of i have from retailers and that will also push up so don't forget that unlike u.s.d. which apparently we can print by the trillions whenever the supply between a spinet and we're only mining $900.00 new bequests per day and that number will only decrease so we have 3 points into manned and a very stagnant supply and now ben looking at the future of big oil and bloomberg has made the claim that because it could hit a price of $400000.00 by 2022 if feels like we have a new prediction every week of some you know crazy number that is probably not that crazy what's this based on. you know it's based on a couple things you know bloomberg is kind of putting together market analysis based upon where big going has been in the past how it's kind of grown over time the fact that there are certain markers and every couple of years it's about every
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4 years or so that we see big point take you know a tremendous leap in terms of its size its value and then also what christine was just talking about right now which is the fact there is a finite supply of it going so big going is not a a token it is not a currency that is going to be able to be printed you know it. perpetually it just can't be and so because of that you do have a finite supply and that and that has an effect on now $400000.00 by q 4 of 2021 i don't think that's necessarily going to happen it could happen it may happen but it won't necessarily happen but i don't think it's important whether or not hits 4 in 2005 i think predictions like that are actually unhelpful to this space because again if we're talking about the actual value in the promise of a big coin it's the idea that you have a currency that ultimately i believe what bitcoins ultimately going to do is it's going to become not the world's reserve currency but it is going to become the currency by which all other nations essentially settle transactions between each
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other i think that's where big coing is ultimately had it so its value is much more than just a price tag its value is in its ability to be able to become truly the global currency through which nations are able to trade with each other and it removes the responsibility of $1.00 nation having that one world reserve currency so you know $400000.00 great prediction could be exciting if it were to get there but it's more important what they can actually do in terms of of really as i said becoming or removing the need for one world's reserve currency christine as we talk about crypto currency we talk about the things that kind of revolve around it and chip maker invidia as he raised its 2022 1st quarter revenue estimate from the sales of its new cryptocurrency mining processor to $150000000.00 up from the previously expected $50000000.00 why is there so much interest in this new project from
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invidia. well there's a huge amount of demand for especially as a price a big question each continues to go up and that's because this new c.m.t. this is principally designed for the industrial scale mining of us so they actually don't need the specifications required of a chief or his g.p.s. so that as a result it won't impact the availability of the g 22 gamers which were previously the predominant fires of this of this device so previously the miners there co-opted if it is graphics processing units in order to mine crypto and that created a lot of market shortages and headaches for the entire p.c. gaming community so right now there is very strong demand from miners that you ashley is at historical highs you had very high networking fees and there's a lot of competition a role amongst miners and that coupled with eats prices now breaking up breaking out into all new time highs that suggestion of the u.s. play for captain mining is set to pay off in a very big way especially as a switch to east to finality cooper states it's still quite some time out. now
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better kristie just merged mentioned a theory and it's actually been hit new all time high over $2300.00 as of tuesday how is this latest rally actually affecting other krypto in our coins yes actually it's affecting a lot of koreans in a very positive ways he said if there is is way up but the beyond that a live report right now i think of the last 7 days ripples up 100 percent cash is doing extremely well i believe up 50 percent in the last 7 days those points which you know there's a lot of jokes about those toys but it's up another like 50 percent of the last 7 days so we're seeing a lot of coins that are moving pretty rapidly right now so a lot of that probably goes back to coin based on what's happening with them but i think in general what's happening right now is and we've been talking about this not just for weeks not just for months but for years is there is an acceptance a general mainstream acceptance right now that number 1 dollar specifically the u.s. dollar is being printed into an oblivion and therefore it is being. the valued and
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number 2 that there is legitimate competition in the currency world and number 3 there are some people who are getting very wealthy moving into that so don't get left behind so right now i don't know it's not just a phone though it's the it's the idea that this is not just the future this is the right now don't get left behind so there's a lot of people coming into this space right now i think will only continue to see that over the next few weeks and months boom bust co-hosts and crypto analysts boom kristie i and perhaps one thank you both for your insight today. and soft bank backed ride hailing giant grab announced tuesday it will go public through the largest speck merger to date valuing the company at nearly $40000000000.00 there grab which operates in southeast asia offering services such as transportation food delivery and hotel bookings from its app will merge with
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altimeter growth as part of the spec process now a special purpose acquisition companies are shell companies created to raise funds to buy private firms the process has become more and more popular over the last year as a means to bypass a traditional wall street i.p.o. the singapore based company operates in 350 cities across 8 countries and serves 187000000 users. time now for a quick break but when we come back new data shows u.s. consumer prices increased in march as inflation concerns remain in focus we'll break it all down as we go to break here the numbers at the close.
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today the industry prefers to spend millions of euros in you know the 2 day regulations i will be sniffing is all about making money making profits in some of the corporations international markets import export do you imagine the number of currently diseases that are in every community today it is not due to new viruses all new microbes just not true so it is due to environment. will see the look and say you know that moment all discipline of this sort of muscles are really just accumulate could only come in the day you see them to the side of the list that. the legacy of the sky if the so food industry is successful it will create more jobs it will create more value added it will create more growth so i don't see why we shouldn't also fight for the interest something to st the extent that we have
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regulation we want regulation i was an industry and if we don't behave any aspirin or 2 that's fine. so what we've got to do is identify the threats that we have it's crazy confront to let it be an arms race off and spearing dramatic development only personally i'm going to resist i don't see how that strategy will be successful very critical time time to do. sit down and tom. welcome back and another positive sign for the ongoing global economic recovery china's trade rose for the month of march in dollar terms exports jumped 30.6 percent for march from the same month last year while imports grew by 338 point one percent for the month the highest level in 4 years now the world's 2nd largest
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economy had a $13800000000.00 trade surplus for this month now data regarding china's economic growth for the 1st quarter of the year is expected later this week and analysts believe it will show the nation's economy expanding by a record 18.5 percent year over year. and here in the united states consumer prices shot higher in march the u.s. department of labor reported tuesday the consumer price index rose point 6 percent from february but increased 2.6 percent from march of last year as the at the onset of the pandemic the year over year gain is the highest since august of $28000.00 gasoline prices were the biggest factor in these monthly gain spiking more than 9 percent in march and up 22.5 percent from the previous year when nearly all travel was halted due to the global pandemic food prices also contributed to this increase now as we look at the economic recoveries effect on inflation the u.s.
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federal reserve policymakers including. believe the increase will be temporary analysts expect inflation to continue to rise in april but eventually level off for more on this and some other economic news of the day let's bring in jeffrey dungarees the editorial director with the american institute for economic research and octavio the c.e.o. of optimists l.l.c. thank you both for joining the show today octavia i want to start with you this latest report seems like it's the clearest indication that inflation is mounting and feeding its way through to higher consumer prices is this increase temporary as j. paul tends to say or are we at risk of a runaway runaway inflation. well i think i think the balance that risk looks like we're looking at about of inflation coming our way but bear in mind that despite all the money that the fed has been pumping into the markets we really haven't seen that much translate into into real sort of headline inflation rates it's been a lot of inflation the market has no room for inflation housing when you really get
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down to the consumer prices has been fairly tame and i think that's explained by the fact that a lot of consumers would put money on the side and have not been spending that money so if you look at bank deposits the through the roof american consumers have put more money into the banks of the course the past year than was ever before so a lot of that money has been sitting on the sidelines and sort of person as they sort of start to feel more comfortable are going to start to spend that money said ok things are ok now i can go back to normal start spending that money and that will drive prices now in terms of drone powells vision that this is a temporary blip and it's going to go on i do wish that the fed would share its models with them so i don't know why there was refused to do that they've got all these great models about forecasts and interest rates and all sorts of other things going on why don't they share them with us why don't let's see that model so we can see the same things that for some reason they're not willing to do that and that of course raises suspicions i doubt he actually has a model that shows things going up and coming down and then going side to as a going. to model his is genius ph d.
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and i'm a traditions of come up with but i think it looks unlikely so i think he might just be pulling this out of his parents jeffrey i want to get your opinion on this because president biden's top economist argued in a new paper on monday that inflation worries are vastly overblown there were boy what do you think of that because we see all the smart money guys all those hedge funds on wall street if you want all of the smart money guys are prepping input and putting assets into things like crypto so what do you see of all that well you know i don't have to buy ministrations correct obviously means and there are certain ways you can explain the increase in gas prices just purely demand driven you know when you have lucked out and that everybody sit at home and nobody's going to read and then people just get a house band desk. but to get out and yasser was driving the streets of america just teeming with cars and deliveries and yet there could be a demand driven there and this is you could say the same thing about how stress is but an error or i should say groceries so here's the here's the problem is that you're seen this it's really broad based and the american has severe economic
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research maintains us thing because everyday price index which is not c.p.i. what it does is it looks at things that people actually sort of buy all the time during need on a regular basis and that figure is actually shocking to me and if you analyze a quarter quarterly increases for the 1st quarter if you analyze that it's in the top digits right so we're looking at 1112 percent which. is not really but you know annualized quarterly increase that's it's big and the biggest that we've seen since 2011 sue sure you could write it all off a thorough these things happen and people are moving in and buying houses we're eating a lot of food and driving a lot and so on but after a while you really begin to wonder and also says we have you know so much money we're awash in the money and you know all else weak equal you know increase in the money supply and this level are going to push prices up now the mitigating factor is velocity if consumers are not spending then going to maine are going to be
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maintained at a sort of all normal rate but you know what the fed does not control that so turd large extent the price increases are going to be determined by consumer behavior and if there's more money just chasing the same amount of goods eventually that correction will come and we're looking at our or real problems the fed will not be able to control no art fair or to move on to a little different point here because at the start of the day there were conserved that this data along with a pause in the use of the johnson and johnson actually well actually hinder markets but that wasn't really the case in fact after p. close that record high of the nasdaq gained 4 percent today what are we looking at in markets as we head into earnings later this week. well earnings are going to be actually remarkably difficult to really gauge and judge and i don't think it's really going to be the driving factor in this market i think we talked a lot about the fed in and this little show but i think the fed is really what that is the driving factor in pushing these markets up so the fed charism pumping money
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in the carrier making markets go up and that works really effectively if you think that's a good idea in terms of earnings i mean we're looking at sort of a consensus forecast that earnings and be up 25 percent this quarter which is a very impressive increase but bear in mind the 1st quarter of last year was a pretty awful time in the 2nd quarter was even worse so our comparables a bit off so what it's looking like now in the 1st quarter expecting earnings to go up 25 percent and next quarter we expect to earn as you go up a whopping 50 percent but bear in mind one year prior we had the whole code that unpleasantness which of course is depressed the numbers so we are comparables are a bit off it's really hard to compare to in the way that we would historically do so but i think is not real is driving market and i think the fed with is very low interest rates is what's driving the market and corporate next jeffrey what one last point before we get out here today because president biden called for a bipartisan push to strengthen the u.s. semiconductor industry during a meeting with auto and tech exacts on monday to pitch it and added that into his
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$2.00 trillion dollar infrastructure put a how do you see american businesses and corporations actually reacting to this proposals specifically say we need to you know bolster our chip making and moving that into our infrastructure package. well you know government can't just make computer chips as magically appear out of nowhere by just subsidizing them it is ridiculous and also there's that about a subsidy will guarantee it's quality position it's up to date that's in terms of current technology and look all of this was massively disrupted over the last not just during lockdowns and 2020 but going back 22001000 even 2018 with the disruption of supply chains from china so this is you know it's that is the real underlying issue here trying to ministration really began to construct a kind of gigantic at technology wall between the u.s. and china and other places in the world and the problem is it's made it's created
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enormous shortages in this country and everybody in the industry knows that so we've got to fix that problem and no amount of government spending is going to fix it jeffrey and octavio it seems like tire is going to be the only thing that really heals that particular issue thank you both for your time today. thank you very much . and that's it for the time it gets boom bust on demand on the portable t.v.'s of able and smartphones a tablet through google play and the apple app store by searching portable t.v. you can also be downloaded a newer model samsung smart t.v. well as ropey devices or simply go to portable t.v. the next time i'm going bust.
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psychiatric drugs are essential for millions of patients rather they want that pill that they hope will take care of their problem thoroughly and rapidly in the short term they really work the problem is in the long term and mostly disastrous suddenly stopping a drug can cause withdrawal symptoms most serious than the condition it was meant to treat instead of the beneficial effects of these different medicines ending up to something wonderful very often there are full effects it up to something
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terrible 10 pills. probably trying to medicate life itself i just think i was in like i was just scared i was a scared little girl i was 24 and like. i didn't have to be so complicated. feel. anger or rage is for 3rd nights in minnesota after a block man fleeing a traffic stop is shot dead by police frauds across the country are again calling for forces to be defunded while some have gone on the rampage leaving local businesses fearing the worst.


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