tv Boom Bust RT April 20, 2021 11:30pm-12:00am EDT
so sins of newborn babies were torn from their mothers and given away and forced adoption. but i want to. with my own group what is the feeling that many. mothers still search for grown children well look you know hope for the parents. this is them bustling business show you can't afford to mess i'm rachael love and in washington coming out the u.s. is now warning americans not to travel to 80 percent of the world as some areas litter churches while others consider the use of the controversial vaccine for. the social network parlor 8 is making its return to the apple app store but what has it
agreed to change and will google remove its ban now that. europe is facing a major shake up and send teams announce the creation of a new super elite so will the backlash be enough to stop the deal with billions of dollars at stake all this gusset all next we have a lot to get to so let's get started. the state department is now warning americans against traveling to just about anywhere else in the world and a new guidance that puts 80 percent of countries worldwide on the do not travel list they plan to add a one $130.00 new countries to the category which is currently at $34.00 and it already includes countries such as kenya brazil haiti and russia the state department says it is working with the guidelines set by the c.d.c. but the update comes as top airlines across the u.s. report their earnings for the 1st quarter of 2021. and despite an increase in
domestic travel over easter weekend the ongoing restrictions worldwide are still having an impact take united airlines for example which posted a $1360000000.00 net loss for the 1st quarter of this year on $3220000000.00 in revenue that's 60 percent less than the $8000000000.00 it generated in the 1st quarter of 2020 then there is the lingering question of how covert 19 vaccines will play a role and if americans will be required to ride proof of the shot before they travel are to use turn new charges has the latest airlines are reporting an uptick and traveled nearly 10000000 people took to the skies just last week but while the u.s. plans to advise americans against traveling to most countries some believe that scene passports are the ticket back to normalcy today the u.s. department of state preparing to update its travel advisories to better align with those from the centers for disease control and prevention
a change that would imply adding $130.00 countries at level 4 do not travel to approximately 80 percent of countries worldwide we are taking very seriously the global threat from the bin to make the update comes as more than 910000000 doses have been administered across 156 countries with the u.s. giving more than 212000000 vaccines a daily average of about 3000000 a day i want to recognize that we remain in a complicated. on the one hand more people in the united states are being vaccinated every single day and next. on the other hand cases and hospitalizations are increasing this as some officials push for vaccine passports for work the news and travel i think the passports could be an important part of our recovery new york city already launching the excelsior pass the nation's 1st vaccine passport that allows new yorkers to prove their vaccination status or recent kovan 1000. besting history to participating businesses and then use by
using a simple app on their phone i think particularly for some private sector settings it could be a really valuable tool for the government has a role to play in setting it up and making it work u.s. airlines also calling for a vaccine passports asking the white house for federal guidance for temporary health credentials that would keep track of travelers negative coben 1000 tests and attacks a nation something the world health organization is reviewing that's good for everyone it's good for countries and and systems immunization programs and it's all too good for individuals who don't have to go to have people around with them but that's very different from making it mandatory for someone to have you know a certificate in order to travel that's when the problems really start coming up the u.s. airlines do not want vaccines mandated for travel they do hope the digital health pass will help people avoid domestic and international quarantine requirements hawaii moving one step closer to approving vaccine passports for travelers just
last week all across the country florida governor rhonda santos is fighting the initiative the governor signing an executive order this month that bans state and local governments from issuing proof of vaccination documents and prohibits governments businesses and public venues from doing the same now again here in new york while some officials believe that vaccine passports could be the way to fast track getting things back to normal they say that getting vaccinated is still the number one priority reporting in new york trinity chavez r.t. . german chancellor on the americal maybe on her way out but she is speaking up about why her government continues to stand by the nordstrom to pipeline despite ongoing pressure from the u.s. while the biden and ministration warn the project would create unprecedented reliance on russia merkel noted that europe already relies heavily on russian oil and that backing out of the pipeline that is nearly 96 percent complete would have
serious consequences. i think what i would like to know that the gas delivered through north stream. is no worse than lookouts from the next spring one which flows through ukraine is for that which comes from russia as the other turkey home i have the impression that with north stream 2 we may be waging a conflict that is much wider and touches upon the question of the extent to which we one shot especially in the energy sector if you can but you as it self also relies on russian oil importing a record amount in 2020 but while his top officials have repeatedly threatened sanctions against germany president biden has called the pipeline a complicated issue and has stopped short so far from taking significant action over the project. president biden is now saying he's open to a compromise and in meeting with a bipartisan group of lawmakers he is hoping to garner support from republicans for his $2.00 trillion dollars spending plan which they have criticized for the use of
the term infrastructure given everything it includes. your car right here you do get together on your record but there's a lot of leaves so we're. talking about. number one would be included back. there so you have the right back you think it also very clear. how to pay for. the biggest complaint from republicans was biden's plan to increase the corporate tax rate to 20 percent from 21 percent by the trump administration but during the meeting reports claim a more modest tax increase was discussed but will it be enough and how are the markets reacting to the latest earnings reports joining me now just got their true must co-host christiane and david mcelwain of mcelhaney financial group christine let's start with you u.s. equities fell for a 2nd day on tuesday as strong corporate earnings failed to boost
a market are already near record highs what's holding the market back right now. well right now we're just not seeing the recovery and we opening plays actually play out right now so things like airlines cruise lines stuff that lever to recovery and things going back to normal like travel and tourism they're not bouncing back either rather they're leading the losses on tuesday so you have united airlines plunging 9 percent after the carrier reported 5th consecutive quarterly loss and that is a business and our national travel recovery is still a long ways away american airlines also fell 6 percent while carnival cruise lines are reaching cruise lines and royal caribbean they all try to lower as well so this stuff came as the world health organization warned that the ongoing global chrono virus infections were edging towards the highest level in the pandemic even though vaccinations are also being distributed at record pace the u.s. is still recording over $67000.00 daily new actions and also throughout this entire
time the market has been rally to all the robust earning season with already priced into the market you know 90 percent of the s. and p. 500 companies that have reported so far having topped expectations by more than 20 percent on average so this rate is 3 x. the historical average but the markets are stretched at this point and all the good news is pretty much already expected and already priced in so it's a recovery does not actually materialize as expected then we could all be and find out you fella yes certainly and there is a lot of pressure on that continued recovery now david we've been talking about this 2.3 trillion dollar infrastructure plan we know that lawmakers at least from mind inside are trying to make this happen is there some sort of a compromise like the one that they were talking about i mean is there a chance for this package to succeed. you know we'll get a package this study of politics is somewhere between entomology and flip out of me polly meaning ticks meaning many ticks meeting blood 2nd creatures are involved
is really where what we're talking about 650 is where the republicans start $2.00 is where the democrats with their own change which wishless would like to go final number is going to be in between how to pay for it is the contentious part corporate taxes are the biggest talking point maybe a wealth tax we'll see but what we really need to focus in on is tax arbitrage transfer pricing and all of the tricks that multinationals use to knock their effective rates into the low single digits multinationals do not pay 21 percent and they won't pay 25 percent or 28 percent when people bandy those numbers around you're talking about the small to medium sized businesses that get stuck with a much higher bill the larger the corporation the larger the financial budget for tax mitigation we're talking extensive teams of attorneys and tax experts playing games if you really want traction forget about raising the rate that just increases pressure on the little guy and reinforces monopoly dynamics take away creative
planning for any multinational and your 21 percent number will bring in extraordinary revenue yeah that's a really good point as well and it is interesting to see how the democrats and republicans can go back and forth and act like they're fighting it out but at the same time when it comes to them and their friends a lot of things continue to stay the same no matter what over they pass ok chrystia also i want to bring gold into this we saw the price hit a major milestone at 750 as competition with bitcoin heats up how do these 2 assets compare i mean is there any really competition here. well i think you know my take on this there really is no competition as the coin is superior to gold in almost every category i mean scares me because it has a limited supply golden scares but there's an unknown supply confit resistant that coin when portability but when you can carry in a little while in your pocket gold bars are not very portable sometimes
a decentralization durability divisibility clearly bitcoin when the only categories where gold and the chance are fungibility whereas comparable to bitcoin and it's stablish history or gold obviously has a longer life so both of them are safe havens right now and ahead again inflation that coin was responsible for stealing gold luster this past year as a precious metal saw its worst quarterly woman since the an important going forward and they're going to be winners if inflation get out of control and where i see it is traditional investors will probably tend to quit gold and millennial will go with it klein both should win the competition against the u.s. dollar that's the most important thing and in the meantime the underlying infrastructure is going to be very important going forward and this includes coal miners crypto miners gold dealers and crypto brokers as the ecosystem get built out and becomes more transparent and user friendly that's what looked at the scale and that point ever that's a really good point as well and i know that there are some who are teaming gold some who are team bitcoin but of course i'd be end of the day they're both good
alternatives to be u.s. dollar now david i also want to bring the price of oil into this we saw that it fell on tuesday pulling back from one month highs on fears that india the world's 3rd largest oil importer may impose new restrictions as co-infections and deaths soar in that country now at the same time elsewhere in asia areas like the philippines are also experiencing a 2nd wave of infections where we too optimistic about the recovery trade and how it would play out. yeah so on that last point specifically on gold we're now 100 points above technical support at 1680 a double bottom put in over the last 4 weeks we believe and we've been in the precious metals business for 50 years that the floor is in this is a very important point jewelry demand is indicated by indian buying at 7 times last year's levels 98.6 times versus 13 tons in march 2020 that's put in the floor
investors define the ceiling of that market juli jewelry consumption defines the floor now on the oil side series a factor that was overplayed by virtually every government around the world and that was largely a 2020 story vaccines are out death rates are down globally with the exceptions being india and brazil at present i think smart and gauge when is the model for 2021 obviously india's restrictions are going to be short term negative consequential very consequential for the markets but short term as often as the case numbers tick higher there's going to be renewed concern amongst oil traders with a memory of cushing crude non deliverable if you remember the contract constraints last year and when the price went negative but i think the pain reaction is amongst oil traders and that fades throughout 2021 the philippines is interesting it's a classic case of overreaction 16000 deaths from a population of 108000000 that's on par with deaths in the country from car accidents my parents live there it would appear like code that has been deterred to
his excuse for markel martial law and i think this is one thing we have to factor in strong men flourish in a context of fear the statistic is point 000148 that's the mortality in the philippines and they're going after another lock down i think it's so much on necessary suffering and economic damage so to answer your question i would say we are not optimistic and knopf markets heal quickly if governments don't interfere but fear sells and the media government and big pharma are. in sales mode can you remember a time when there was such a global synchronized experience like this and i think 2020 is one of those fascinating places where we get to reflect and say people behave in such a fascinating way when when more when their mortality is challenge you know certainly in the case well excellent points here all around christie i david mckelvey me thank you both so much for your time. time now for
a quick break but when we come back could the creation of a new super we be the end of soccer in europe as we know it well the best the latest plans and the overwhelming backlash next and as we go to break here the numbers of the plough. seem wrong. just don't. let me. get to shape out the attic. and in the game. trail. when so many find themselves worlds apart we choose to look for common ground.
and i mean another one of the highest among the way they're both excessive because the ballot itself mukti about. closing this way got sued out so hard not to think of the mother disappeared this moment the work of a coward and an empty stomach and if. this is the only thing that we do is music because everybody fights his way to. the floor you can feel the fee on this bill frist woody allen you have called the ability to put a hold on the. what i think is this is the fans that is the constant. thought. is you'll
at the conservative social media platform similar twitter is coming back to the apple app store and a letter sent to republican senators mike lee of utah and ken buck of colorado apple said monday that a revised version of the parlor out with improved content moderation would be approved for release to apple users so joining me now to discuss. this and investigative journalist ben's wrong are
a band the biggest question is here why is parlor now being allowed back in to be apple app store. yeah because essentially parler been the ne that's the term that we use here they essentially were told by apple if you want to be back on the app store you've got to work with our teams in order to decide what content can and cannot be there it appears a parlor is done that this is the way that apple is phrase that they say that apple employees have quote engaged in substantial conversations with parlor in an effort to bring the partner app into compliance essentially saying you are now complying with their so-called community standards and so part of there will be allowed back parlor is not commenting by the way and acknowledging what community standards they've agreed to adhere to enter saying that so much more concerning we're hearing about this new content moderation but we don't actually know what it would mean ok so apple says the parlors coming back but what about android devices i mean is there any chance that google is also going to let it left its band here while
google says that they will lift their band if parler reaches out to them with a new form of moderation content moderation on their app they submit it to google and then apple will review it and then allow them back into the play store same thing that apple's already done google says will do the same thing but you in the end replaced or look at the end of the day it's the same thing right which is that your suggested going back to these companies and you're saying we will agree to allow you to have editorial control over what we're doing allow you to have control over the kinds of users and post that are on our site and ultimately google and apple get to decide that that's what part of their has alternately agreed to here it's actually a pretty said day terms of the tech space yeah it really does seem that way and it's crazy to think that i mean google and apple don't really have to do anything they've got to just kind of sit by and wait for parlay to come to the table one on one ok so overall what does this signify about what this new and improved version of parlor means for the site and what about those other up and coming social media companies. well you know i would not call it a new and improved i would say it's
a new no longer improve right it's actually been damaged as a new damaged version of part of the fact the parlor is not even acknowledging this this all came about because of a letter that apple sent over to. a couple of republican senators that's how the information came out because that information was sent to those senators we now know about it which means parlor for their part has not made an announcement saying hey we're coming back to the apple app store they couldn't keep us down actually they did keep you down you've been the knee and i believe ultimately parlors done in terms of being able to grow with subscriber base hopefully a lot of those other companies will learn the lesson on that one bends ron thank you so much for your time and insight you got that. european soccer is facing a massive shake up as 12 of the league's biggest clubs an ounce the creation of their own super league which would create a series of midweek competitions for the elite teams involved the leave will also be bankrolled by j.p.
morgan chase to the tune of $4800000000.00 but it has already been hit with a backlash all around with many calling it a disaster for soccer so joining me now to discuss their victory matheson professor of sports economics at the college of the holy cross now a professor the president of the union of european football associations is calling the creation of the super league a complete ignorance of england's football culture why are we seeing such a passionate response in opposition to this project. well the big thing going on here is that the super league guarantees slots to 12 members that have already that already signed up and actually 15 members in the end would have a permanent positions in this league and that goes total totally contrary how european soccer has grown over the past century which has opened leagues where you have to earn your right to participate in the league and to stay in the league and
the teams that don't do well get voted down and relegated down to or levels with fears that are up and comers get promoted to higher levels. this is not the proposed european super league would be like it would be much more alike to be closed leagues in the united states where members of these leagues are there permanently a matter how forward and how well they play a decent season if you can decade to decade and you're saying ok so you can certainly see why there is a lot of frustration about this and at the same time there has also been a lot of concern about the funding that is making this super league possible we're seeing j.p. morgan chase is offering $4800000000.00 so with such a focus on propping up the most a lucrative teams here how much to the last valuable team stand to lose with this new alliance. yeah the real problem here i think for most fans is this would further entrench what is already
a serious problem and competitive balance in in most leagues in europe for example if you look at spain pretty much every year the title race is down to one of 3 teams and the other 17 are just playing for 4th place in any given time. this league would do is it would take those 3 teams for you but more money into those $3.00 elite teams make it even less likely for any other team to be able to make it into that crack into battle elite 3 but also have to believe this will happen well so it would exacerbate what are already significant financial lot of differences between the top teams and the little teams and make it even worse than it already is and secondly the only teams that would be included weren't mad about it at 1st now in the sun in a few of them are kind of backing down and it seems like so many are now uniting in opposition to this plan so is there a chance that it could fall apart before it even takes off. well i think what we
see today is a massive grassroots campaign and not just among the teams that have been left out but actually the teams that were part of it i say we have anyone to thank for this this is our opposition is looking like it's going down in flames it's actually the chelsea supporters want to be in there was going to be in this and they were actually protesting their own teams are inclusion in the us chelsea has just announced already today that it's i was asked to back out of the league that it just announced yesterday that it was joining so i think this is it doesn't mean that the financial the spirit is that soccer in europe solved these are underlying issues that are going to you know be continuing on this is not the end of this discussion of the big teams versus minnows in europe but it certainly looks like this version of europe's super league appears to be doing and then are really me
interesting as the what seems new next and if there is any other attempt any superleague if this one doesn't work out excellent points to consider here professor victor matheson thank you so much for your time. that's all for now you can catch him bass on demand by downloading the portable t.v. app or apple or enter a device well see you here next time and as always don't forget to question morning . when the central bank will claim there's a this is a victimless crime when they print money and yet we don't see that on the ground we see a lot of violence on the ground and that's goes directly to the feds door they have responsibility for that.
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the dares thinks. we dare to ask. it's been decades since the fall of spain's fascist regime but old wounds still haven't healed. from going into the times when infamous. because only from an old. mikkel feed a market economy suppose. you mean in the us at the source mean older than just the same question which we know sells ins of newborn babies were torn from their mothers and given away and forced adoption i don't know. but my own role
as a fellow mentor to this day mothers still. for grown children. for their parents . a jury finds minneapolis a police officer. guilty on all charges in the killing of george floyd last year. we watched with fears earlier in case of an acquittal. a medical intern commits suicide every 18 days in france as the pandemic pushes it training doctors to the breaking point. and british doctors and nurses are also buckling under the strain of the pandemic with one health worker describing as ken and.