Skip to main content

tv   Boom Bust  RT  April 22, 2021 8:30pm-9:01pm EDT

8:30 pm
we're back in 30 minutes with another full and fresh look for news stay with us. in his annual address to the nation russian president vladimir putin reminded his citizens and the world in fact russia has red lines when it comes to foreign policy interests and those red lines need to be taken seriously and there lays the problem the west refuses to acknowledge russia as its own national interest. this is boom bust one business show you can't afford to miss i'm rachel's love is
8:31 pm
in washington coming out a bipartisan group of u.s. lawmakers is looking to set limits on the facial recognition data used by police as europe takes action to regulate the use of artificial intelligence well that's got a lot to super league of european soccer is no more after it was hit with the major backlash so why is the founder now blaming brock's it. now said shortage of semiconductor chips is having an impact on industries around the world and it's forcing some automakers to cut our by the thousands we have a lot to get to so let's get started. the debate over police use of facial recognition technology is once again taking center stage a bipartisan group of u.s. senators is pushing back against police departments and law enforcement for purchasing access to location and facial recognition data the legislation the 4th amendment is not for sale act would ban the u.s.
8:32 pm
government and law enforcement agencies from buying location data and other personal information without a warrant it would also block the purchase of data that was illegitimately obtained by an act of deception hacking or breach of contract a stipulation that congressional aides say would ban the police use of clear view ai one of the most popular facial recognition programs used by hundreds of police departments across the country so joining me now to guide us co-host and investigative journalist ben swan and cyber security expert morgan right ben let's start with you why does this legislation take aim specifically at the technology used by clearview a i. yeah a couple of reasons for that so rand paul the republican senator from kentucky and ron wyden the democratic senator from oregon are the ones behind this 4th amendment it's not for sale bill essentially though it focuses on clearview in part because
8:33 pm
that company has specifically gone out and it has scraped billions of photos across social media these are our photos from facebook and from instagram and even images from you tube they've gathered these these photos together they've compiled them into a database and then they sell that information to law enforcement who's trying to utilize it to essentially match it to suspects that they're looking for well again the reason that this is considered illegal the reason the bill is pushing to clarify that this is not legal is because it completely bypasses 4th amendment protections it essentially says we don't have to have a warrant to do this we can just pay a company that's a private company and we are allowed to then go it through and scrape this information and by the way twitter and facebook for their part of said that that clearview ai has actually violated their policies by by conducting this great thing so they're saying they weren't working with them but there is a bigger point here and that is the issue of the fact that we do have in this country a private sector apparatus that is conducting surveillance that is creating facial
8:34 pm
recognition that is monitoring the public and it is utilizing that technology to sell it back to law enforcement as a means of turning a profit law enforcement is getting around the 4th amendment by centrally taking part in this and saying well we're not the ones collecting the photos we don't have to have a warrant just to pay do you somebody served and now i'm in the aisle that is incredibly concerning are around and there really aren't a lot of people talking about this right now i mean this comes up specifically because of this legislation but it sounds like it's a much bigger problem now more again what is interesting here is that police departments actually purchased access to this information as a way of getting around warrants like ben was pointing out is that an appropriate way of bypassing the law. well let me preface this by saying i spent 18 years in state local law enforcement i've trained over 3000 officers in the investigation of computer crime spent a year training the f.b.i. and i've instructed at the n.s.a. so i've done both the classified and the unclassified stuff this you know what we're getting into is
8:35 pm
a gray area it is not illegal for them to do that you might have might question might be is it appropriate once you pass a law and says it's illegal to do that then law enforcement can't use that information right now they don't need a warrant to do it because it is not illegal in the real world if you obtain something illegally and you know it's illegally obtained in other words it violates the law law enforcement would be prohibited from using this so there is an issue about how much you want the police to use it dance technology to stop crime and what we're seeing right now a rachel is an explosion of crime we're seeing homicide rates double we're seeing armed robberies go up if they don't use this information to stop unsolved crime the question is what do you suggest they do so that you know i love again came out of a law enforcement intelligence background i understand the applications of this technology but at the same time if a last pass that law enforcement has to abide with the law but at the end of the day it's going to be up to a judge is going to be up to a prosecutor defense attorney if it's illegally obtained then it will be ruled that
8:36 pm
way in the be prevented from using it if this law is passed to your point it will prohibit the collection of this data by the law enforcement to use in any way shape or form and that's certainly the debate that congress is having right now is trying to decide how much access is much access and how is it actually being used as they go along to you can i just say something real quick about that it one thing about that about this law in particular the bill that's being put forward i should say is that it it it does not try to prevent law enforcement from utilizing this technology in the future what it does is that says you must have a warrant to go search through these specific items so you can't just blanket search everyone and you can't blanket collect images of people. throw into a database so i think that's kind of the cabby out there as to morgan for sure and certainly adding some more i guess rules along with it to what is now being used very broadly at least it seems from what they're talking about now all are here then i do want to mention another interesting story which is that we found out that
8:37 pm
surprisingly the law enforcement arm of the u.s. postal service has been quietly running a program that tracks and collects american social media post including those about planned protest why is the postal service doing this. yeah it's kind of a bizarre story so this this particular arm of the postal service is in fact searching through social media posts on facebook on parlor apparently is one of the places they were doing it and on telegram and they're looking specifically in groups where people have organized protests that include of march 20th event that was a march against lockdowns and against 5 g. technology and they're gathering information about these protests and they say they're doing it because they're on the lookout for those who might want to incite violence but again this this raises a whole series of questions right listen there is absolutely a use for law enforcement to be monitoring what's going on and what communities are
8:38 pm
doing but at the same time we have to be very cautious because right now we're living in a very precarious moment where law enforcement seems to be certainly on the federal level seems to be focused on certain types of people for instance the january 6th protesters who went into the capitol right the f.b.i. is is hunting these people down at breakneck speed putting up billboards across the country do you recognize this person do you know this is but then at the same time doesn't seem to be very interested in what's happening in cities across the country or buildings are being burned down and heavily vandalized and there is this incredible surge of crime taking place as morgan mentioned across the nation so what i think begins to become questionable through all of this is when you have federal law enforcement in this case the law enforcement arm of the post office looking into protests are these investigations being geared toward political enemies and i think there are a lot of people who right now who feel that the answer to that is yes it's being
8:39 pm
geared towards political enemies and it is not an across the board we're monitoring for any kind of of violence that might be out there because when you begin to really dig into social media posts and an online behavior it seems that there. being targeted these investigations are targeted toward certain groups and i think that's very troubling for a lot of people troubling and also interesting to see that it's the postal service doing this along with i guess the other one for it's been ages that are out there now morgan before we go i also want to bring up was going on in europe because you know we're talking about that so much of this surveillance and facial recognition comes back to the emergence of a technology right now that you view is attempting to limit police use of facial recognition and to ban the use of certain kinds of ai systems but in the long run is there any way to really slow this down. you know this is going to be a very big challenge and i'll tell you why because the number of police officers
8:40 pm
around the world are reducing i've worked across the world from pakistan to colombia with agencies everybody at some point wants to use the latest technology i say that to say this part which is anytime you get a technology you need to understand what the rules are and the policies around it so a status in clear policies clear governance i think is a good idea because it lets the law enforcement know these are your boundaries and this is the playing field you can go from left to right and anywhere in between if you go outside the boundaries you get your hand slapped the evidence gets tossed but i tell you what we're having here rachel is a i believe there's going to be a series of unintended consequences which as as the world gets dangerous and it's dangerous right now as we look at everything from terrorism to protests to riots i'm still scratching my head why the postal inspection service is getting involved in a social media collection but you know at some point citizens are going to say what are you doing to make us safer and if the wolf comes knocking at your door and trust me it will at some point you're going to ask the police department law enforcement whether it's in the e.u.
8:41 pm
and i've got friends that retired from new scotland yard the counterterrorism branch could you imagine not allowing the london the new scotland yard the london metropolitan police to use facial recognition to track down the 7705 train bombers if that were to happen today how fast you want to capture these people humans can only work so fast automation artificial intelligence can actually works much faster but i agree there needs to be limits on it but we've got to be careful if we set the limits too narrow somebody will fall between the gaps and that's where these attacks happened in that people were saying why didn't you catch him yeah and i certainly have a lot at stake here at 1.3 consider margan right then fine painkiller both for time . thanks rachel. the legendary super league of european soccer is no more after its short runs sparked a major black lash all around but now the founder of the attempted breakaway league is blaming british prime minister boris johnson who threatened to use a legislative bomb to put a stop to what he referred to as
8:42 pm
a cartel looking to control the world's most popular sport the superleague founder who is also the chairman of one of italy's top football clubs said quote i have had speculation to that extent that if sixteen's would have broken away and would have threatened the premier league politics would have seen that as an attack to brecht's it and their political scheme so what does he really mean by that and how also is directed at playing a role in the region joining me now to discuss is hilary forde which president of strong mark l.l.c. now hillary let's start with this 1st crazy story on the super league it appears that almost all of european soccer was outraged by this plan so why is the u.k. and more specifically brecht that suddenly being blamed here for pleasure to be back with you again rachel and just from american audience i'm a global audience knows this but for the american audience i think they're always a little perplexed about soccer and how come it's so big in the rest of the world
8:43 pm
will the way i describe it always is it's like the super bowl march madness and the world series all in won an add on to the july 4th and everything that matters to americans and if we have a field and then you've got what welcome means for the rest of the world this is a huge issue a motion only financially historically culturally you know it's something big when print prince william who rarely ever tweets tweeted personally that he's really glad that the fans are being heard so to also question directly rachel off the putting in perspective this is nothing really to do with bricks it bought don't forget that has to be a boogie man somewhere. this is been a disastrous failure in fact a huge failure all of these. proport so this is going to be a great new superleague fell flat on their face within the space of about 2 days so you have a nelly who is the president of the european football club he has to save face so basically what he's done the italian he basically has had to say you know this is
8:44 pm
the brics it boogie man however i will say that the difference has made is that boris johnson was able to say you know we're going to drop a legislative bomb on this plan if this is a retracted this plan to lure away 6 of the top you k. premier clubs and those clubs who are also all little paul tottenham hotspur manchester city manchester united and chelsea these are 6 q.j. e historically valuable property football clubs where you have fans that have literally as boris johnson put it love them since their birth and these were going to be taken away all for money so to answer your question this wasn't directly due to bracks breck's it enabled this to be stopped in its tracks because the british government had the power to drop a legislative bomb boris johnson had threated threatened to revoke the visas of any
8:45 pm
football was travelling to the european union to play and also a big tax on the windfall of profits to the super early owners interesting ass point on this is that basically all of those sixteen's are owned by foreign owners many of them usa american owners and i don't know that those foreign owners really can relate to the cultural importance and significance of these 6 premier league u.k. british football clubs what they mean to those cities as bars johnson said you know these these teams are named after these. it sees these with their birthplace and of course with the u.k. being the home of soka this was a major issue ok so bracks it is now getting blamed because for a strong sort of basically looking like the hero in all of this because he's coming out and being able to for the stops you it is are not free kodama practice that in all the was premier league i said and then analogy on my read on twitter was that
8:46 pm
somebody said this is like a group of lads planning a night out with all without asking permission from the mrs and all the with the you've got to get permission but before you do something like this other guys do it really is a massive story now one of the things that we heard was that they were trying to americanize the league do you think that that has something to do with these owners and with you know concerns about where this league could be going in the future if there's another attempt to create a super league over a 2 you're totally right i mean this is more of an american perspective which is far more money oriented not talking about culture and talking about in terms of actual american football but the soccer the always being more of a business more of a money making venture whereas in the u.k. there are a lot of teams such as for example less stuff less is not a team that is a huge money making team but they have the opportunity to do really well this year in that in the european general league and so what you're saying is just seeing
8:47 pm
a lot of resentment some people that want to make a lot of money thought this is an opportunity they would disregarding going back to prince william's point they want listening to the fan base and in fact what this is also done is actually bought brought to the forefront the chance that the fan base may have more sort of boardroom and executive a voice because there's talk of legislation to even enable the fans to have more of a voice in decisions made about that club wow that's an excellent point we know that there is a lot of money at stake here but there's also a lot of money whenever it comes to those loyal fans who attend all of the games by the gear and continue to support those teams right capital we're going to have to leave it right there but great insight as always hilary ford which thank you so much for your time pleasure rachel. time now for a quick break but when we come back the impact of the massive shortage of semiconductor chips is being felt around the world and that's causing top auto
8:48 pm
makers in the u.s. and europe to coal back on production for the scouse next and as we go to break here the numbers out the close. elderly forward to talking to you all that technology should work for people. a robot must obey the orders given by human beings except where such orders would conflict with the 1st law show your identification we should be very careful about official intelligence to the point obesity is too great a transfer of the shia. areas jumps in with artificial intelligence will summon the demon.
8:49 pm
must protect its own existence has existed. when i was a child something seems wrong when old rules just don't hold. any belief yet to shape our disdain becomes agitated and indeed for many equals betrayal. when so many find themselves worlds apart we choose to look for common ground. it's been decades since the fall of spain's fascist regime but old wounds still haven't killed you were going into the darkness with you and it's. because only from the. people we suppose. you mean in the past it's
8:50 pm
a system you do or that i just seen cause me to you know. cells of newborn babies were torn from their mothers and given away and forced adoption. of i don't really want to feel a them and to this day mothers still search for grown children well look you know hope for their parents. from the ongoing trade war between the u.s. and china to worldwide lockdowns in response to cope at 19 there is now a massive global shortage of semiconductor chips and it's forcing top auto makers to pull back on production the maker of the mercedes benz has confirmed it will cut working hours for up to $18500.00 employees and temporarily halt production in 2 of
8:51 pm
those plants in germany in response to the shortage here in the u.s. ford is responding by prolonging the shutdown of factories in chicago detroit and kansas city until at least may 14th the company has also said it expects the chip shortage to cost ford up to 2500000000 dollars this year alone this as the u.s. economic recovery continues but wall street took a down word churn in response to president biden's latest plans for the capital gains tax so joining me now to discuss our boom bust co-host christine and joseph c.e.o. of strategy marketplace dose of let's start with you here u.s. stocks fell to session lows on thursday after this report that president biden is slated to propose much higher capital gains taxes breakdown this proposal for us and how is the market reacting to it. yeah well the infrastructure plan
8:52 pm
is worth $2.00 trillion dollars that's a that's a lot of money and that breaks down between transportation and some building utilities and some jobs and innovation a lot of things under the hood have to do with some green initiatives so when you're having a lot of partisan debate what's actually involved with the plan in the 1st time that president biden had to propose you know how to pay for this he went after corporations and the corporate tax rates and markets reacted pretty negatively that day where he proposed that we're going to raise it from 21 percent up to 28 percent we did rebound after that because of the strong q one earnings reports but that would have put us or that would put us one of the highest corporate tax rates in the entire world and now he was going after the individual investor kind of the wealthy investor those that earn $1000000.00 or more in your early teens and now
8:53 pm
instead of a 20 percent capital gains tax he's proposing to go to the ordinary income level of 39.6 percent and this also includes the net investment income tax that's already there that's not being repealed which came under the obama administration so you're talking 43.4 percent of capital gains tax for those that are actually investing then in the markets and if you're in new york or if you're in california and you're one of those high earners and you're probably one of the investors that that's plain in the stock market you're talking plus 50 percent of taxes from your capital gains and this will clearly put us in the lead in as i like to say america likes to be number one but this will put us in the lead to the highest court in the highest individual income to our tax on capital gains of the entire well wow so it's a change that could have a math of impact and why the markets aren't happy about it now christine weekly unemployment claims fell to a new pandemic era loper 8th ecan week why does this mean for the april employment
8:54 pm
report. well right now we have the 1st glimpse at the reading and the 1st time claims total about $547000.00 for the week and april 17th which is about $50000.00 lower than forecasts so it seems like that the labor market is strengthening and there's a possibility that table report could match marks $916000.00 payroll or be even better so there is a report is the 2nd time in a row in which it claims were below 600000 and that's in very sharp contrast from exactly a year ago when early april clients reached a peak of 6200000 so however there is some concern though that the enhanced unemployment benefits are now discouraging some workers returning to jobs but the pandemic has now created this very unique problem for the labor market so job postings are up dramatically but job searches have not been as high so that kind of reflects people's reluctance to actually return to work and right now there's
8:55 pm
anecdotal reports that have been very positive so feels like the labor market is doing well and that it's only going to get better however the thing in bonds and stocks didn't react to this at all bond yields are flattish along with stocks so basically the data has just come from enough the optimism was already crisis the market it's just what was expected nothing more nothing less so all things are good the market is actually saying like it could be better yet another good point you were saying a lot of exactly what was expected and not much more than that now joe's of u.s. stocks shrugged off a pretty solid earnings be and economic data has this rally burnt out and does this mean we can only fall from here. well i don't know if it's completely burned out yet but you know i've been saying that we need to exercise some caution you know we're hitting as chris just pointed out the unemployment numbers are low which did produce some optimism in q one with the markets and you know we're starting to get into q 2 and if we're going to get the q 2 numbers from last year were troubling
8:56 pm
expected to beat those as well with people going back to work i'm traveling we could expect the markets go up at least for the short term for the long term though for the tail end of the year that's where i'm not as optimistic it's my opinion to be a little more cautious in point because you know we're really going to see this as christine pointed out some these unemployment numbers and who's actually getting jobs and going back to work in this new virtual slash back in the office environment really play out and i think investors are starting to feel that to supply that the tail end of the year and for the long term you know what these tax rate increases on the horizon pretty cautious yes certainly a lot to look forward to there is the u.s. economy continues to work to recover from the last here we're going to have to leave it right there great insight as always kristie i guess against the thank you both for your time. the perseverance rover on mars is making history once again this time by making oxygen nasa says the rover successfully pulled in carbon
8:57 pm
dioxide from the martian atmosphere and converted it into 5 grams a breathable oxygen device on board called moxy makes the reaction necessary to convert air on mars to what would be about 10 minutes of breathable air for an astronaut and their suit nasa hopes this is one small step towards a future missions involving humans and oxygen powered rockets. i'm certain that's all for now you can catch broom boss on demand by downloading the portable t.v. out for apple or android device was here next time and as always don't forget to question more. and i mean i'm on the front of i used to my phone way to go through a suit. and they could still move it to it on the plaza this way got to dog
8:58 pm
it's really hard not to think of the mother disappeared this move of the walk up to him and i know mr mckenna that. this is the only thing that we do is music because everybody fights use lose weight. on. the floor and the food out of his will persuade you that you have the ability to put a lid on the. what i think is this is the fund that is a look come from. i think that will be an interesting new chapter in all of this is that after all the jobs have been shipped to china the majority of american landlords will be chinese and so most people will have lost their jobs from china they'll be addicted to
8:59 pm
fence and all chip in probably from china and going rent if they can afford a house to someone in china. someone she has never been much of overeating that's cool bullish would you consider working. nationalising for us. which are fun but it's just a wall of. money and see if she has such a deal with the people in the group she's just. you know it's just there's a new video board and i. wouldn't see the bar but also me which is in the c.n.n. new woman of the. year it's obvious that these 2 going from the core of the phone is good but when they're low most stay you know. it was yesterday just the cellos mashal is good to know what you just saw was that it was meant to. last a long dog. looks much the bob boyett. has these
9:00 pm
nasty moves never even got to that one smears that you make an attempt. on your. black lives matter rallies founded by us democrats call for the abolition of america's police force warning the veteran officers conviction for george floyd's killing will not suffice. russia's defense minister announces an end to a large scale military exercise in the country's crimean peninsula after claims from western powers that moscow was preparing for war with ukraine. and the u.k. government is caught up in a corruption.

10 Views

info Stream Only

Uploaded by TV Archive on