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tv   Boom Bust  RT  June 5, 2021 5:30am-6:01am EDT

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this case, let's why things looking so far. thanks for watching out international this saturday. oh, the safety for our annual summer solutions where we look at the solution and start of the problems today. we're talking to simon dick's, the bank for the future. he's been around since almost the beginning. he's got a wealth of knowledge. the room, but the one business show you can't afford to miss. i've been the one in washington coming up. facebook says donald trump is suspended from their platform until at least 2023. will talk about the legal implications and the big power that tech has
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overpowered the and the north stream through pipeline reaches. yet another milestone. as the u. s. continues to walk back its opposition. then dividing the ministration takes aim at chinese companies, expanding the blacklist and whitening the economic rift between the 2 countries. it is a pac show. so let's get started. and we begin with this announcement from facebook on the suspension of former us president donald trump. trump will not be allowed back on facebook for at least 2 years. that's the official sentence. if you want to call that handed down by the social media giant, facebook said it would revisit the suspension 2 years from the date of its initial move to suspend him. on january 7th, do the math on that conveniently. it means that trump would not be reinstated until at least after next year's mid term elections. i say at least because after those 2 years, facebook may revisit the issue, but they might not let them back on. facebook original suspension was open ended,
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but their oversight board rule that it was not appropriate. facebook released this statement today saying, and part quote, given the gravity of the circumstances that led to mr. trump suspension, we believe his actions constituted a severe violation of our rules, which merit the highest penalty available under the new enforcement protocols in quote. so here is a twist on a big tech story going from facebook to now facebook and amazon and twitter and google because all of them are suing the state of florida over a law that bans de platforming. yes, it's big tech suing so that it can be platform can be platform. here's the breakdown. florida governor run to send us a new bill into law. it is designed to prohibit social media companies from willfully de platforming political candidates. it also let florida find florida as a state find the company $250000.00 a day if it does de platform someone. the law also allow florida citizens to sue a tech company for up to $100000.00. if they believe it's breaking the law,
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the lawsuit which has been filed by 2 groups representing big tech call the law a quote, she mortgage board of constitutional violations. while the barrels is the contributor with americans, while you're going to now, molly, a smorgasbord of competition. word to say, it's an incredible word and you don't hear. i know many lawsuits. what specifically are these companies claiming violates their rights centrally, they're saying that that the republican led legislature and de santis which pushed for this and eventually got it signed and it will go into effect july 1st. they're basically saying that they through every 1st amendment violation at the wall to see what would stick and wrapped it all up into this legislation. and in essence, they basically list a litany of what they feel like are objectionable rules. that they're asking these social media platforms to follow, which is one, like you said, they must host all candidates running for office, regardless of what they say or do,
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or how objectionable some of their content may be, or if it conflicts with their own social media policies they've also got a list. what the written rules are for what's allowed, what isn't allowed, give users notice if they're going to make any changes. i don't think that is so much if you, but it's just taken as a whole also that they can take almost any action the state can to remove or limit exposure to that content. they can be punished, you know, binds, excessive fines. that sort of thing. so all these are all taken together separately, or together, attorneys are arguing that basically makes it impossible for tech companies to exercise their own 1st amendment rights span and moderate their platforms according to their own policies for harmful content. and can open the door for a slippery slope when it comes to moderating other harmful content or what's considered objectionable i porn or violence. and so these alleged violations of course, include free speech due process equal protection rights, and they want this injunction to prevent the law from coming into force on july 1st . so it's interesting that we're doing the story on
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a day when facebook comes down with a sentence, right? the saying that donald trumble force cannot be back on for 2 years. and as i mentioned, it's not just 2 years. it could be longer than that. it's a minimum of 2 years and essentially he has to abide by certain rules if and when he is allowed back on. having said that, the florida law seems to make a lot of sense. if you're saying, if someone's running for office, they can't be de platforms, because otherwise doesn't facebook and twitter, youtube, and all these companies become the arbiters of what is acceptable political speech, including when people are running for office. yes, and that is exactly the debate that's been happening across a variety of lawsuits when it comes to defining what big tech is able to do and not to do it, especially when it comes to like providing media content. you know, they even even soccer bird when he testified before congress recently said that he felt like social media platforms that laws in the u. s. basically needed to define them and hold them accountable to the same laws that reporting is held to that journalism is held to that there are certain vetting standards that are used and
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that were held to the same standards. so that are that social media tell the same standard as journalists so that they basically could have protection under the law, whether it's users or the social media platform. but you know, we're not there yet. so it certainly they would have a lot of power. i think it's a slippery so, but they feel like donald trump incited people either directly or indirectly or his followers to storm the capital, which is where a lot of this is coming from. then i think they feel like, well hey, this is our responsible part to do it. we can to keep democracy rolling, but at the same time, you know, you get into again, gray areas. where are you, who is really a fault here, and it's almost like the santas and the legislature just saying, hey, we feel like you're violating our 1st amendment. right? so we're going to keep you from doing that. and he's attorneys, you're saying, but you're violating our 1st amendment rights with your rules and regulations. so we're not free to allow the kind of content that we feel like we should be able to put on there and not allow someone to come on. if we feel like they're up to no good, right? and then obviously part of the debate here is also over the issue of equal
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application, right? because, you know, the point about trumpets made wearables, people will say, well, he incited violence. well, there's a lot of examples where politicians do things that are considered inciting violence, but it's not equally applied. now i got to write list, any law that crack on, i'm big tech. i'm probably going to be mostly a fan of this one though. forces social media companies and i want to get this right because it has a loophole, a carve out in it, right. so it's forcing them to abide by certain rules unless they own a theme park. so clearly lives in florida isn't car beside for disney, right? why even include this and it seems nonsense. i know, and i does love the fact that they put it in there at all. it's such a florida thing to do. you know i'm from florida. i live in florida. it's a florida thing to do and it's just so typical. so yes, of course it's applies to disney. even one of the republican legislators at the time was asked about why they put this loophole because it was a last minute addition. and he basically said the exemption was included so that
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disney plus the streaming service isn't caught up in this particular legislation. and remember, you've also got universal studios which is down there, and that's owned by comcast. they have their own network of entertainment channels as well as streaming services. so it looks as though florida which relies heavily on tourism dollars as you know, and disney and universal, those are big tourism draws and they provide a huge tax base for the state. so i think they were looking to protect those interests, and they've even said if i, for instance, somebody said, well, what if facebook wants to come in and be a theme park? it'll be zocker land. could they get out from this? is this an exemption? and they said if they were to do that, then they would go back and tweak the law and keep them from, you know, prevent them from being able to hide behind, becoming a theme part. but, you know, the whole thing is a circus. yeah. you're behind the theme park the same way you're letting disney do with molly barrels contributor to america's lawyer. thanks so much. i. let's talk about the north seem to pipeline. now we told you about this thursday,
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it's less than 62 miles from being completed. well now russian president vladimir putin explains why the biden administration backed off sanctions earlier this year on that pipeline according to prudent because the pipeline is so close to completion. biden had to move sanctions in order to not harm european countries like germany who will benefit from the pipeline saying, quote, i think it should be completed, especially given that the new as new us administration speaks of its intention to build up good relations with its key partners in europe, this is what he told a forum and st. petersburg quote. how can you build good relations with your partners and neglect their interests? this is nonsense in quote, last year before the nor stream to wilson, gas and oil directly from russia to germany. the us opposes that pipeline because it will bypass ukraine, which depends on russia's gas transit fees and makes europe more dependent. we're told on russian energy julia shop of oliver is that the st. petersburg economic forum and has more the session attended by the russian president,
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has become the main event of the st. petersburg international economic forum, which is now in full swing. mr. peters spoke in front of the business, lead top managers of the world's largest companies and corporations ceos and had to find around 2004 in guest here impacts and signing contracts and building bridges. and just communicating mr. patient has made a big announcement at the, for the ministry, wouldn't you? i am glad to announce that today 2 and a half hours ago, the laying of pipes. the 1st ring of the nord stream to gas pipeline was successfully completed the work on the 2nd line continue the entire linear work, including the offshore section is completed from the german side. the pipe came up from the russian side to us and they need to be lifted and welded, but the laying itself is complete, right. the russian president also paid quite
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a lot of attention to the situation with the terrain of our responding and the importance of the scenes in saving people and whole nations. soon with the domestic pharmaceutical industry is ready to further increase the production of vaccine and we fully meet when the power own needs. and we can also provide an opportunity for more citizens to come to russia and get vaccinated here. i know that given the effectiveness of our vaccines, this demand is quite high. moreover, the practice has become widespread when people from different countries, including business heads of large european and other company to do what i visit russia to get vaccinated against corona virus. and also show a plan on how to reduce carbon emissions and switch to green energy. russia is also came to continue reducing emissions from hydro carbon production and increase its forest and field areas to absorb the harmful emission, which is good. but you should have already said that the russian energy sector is
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increasing the share of a low carbon sources, primarily due to the construction of nuclear hydro electric power plants and renewable sources. by the way, on the basis of the nuclear industry, russia is already creating an infrastructure for the production of hydrogen, christopher, and also mentioned some positive trends in the global economy. display the last chairs recession, which according to experts, 10 down to be the largest in the 2nd world war. he said that the global economy is returning to normal life. global g d. p growth is also expected to be very high this year because the 17th century patient cost expert as saying about a 6 percent growth of the world economy you'd ask about the president biden has now expanded the prohibition on americans invested in chinese companies with alleged links to trying to military, that means the administration has added more businesses to a blacklist that has angered beijing. it's also cause frustration for american investors and executive order. mr. biden signed thursday brings the total number of
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chinese companies banned from receiving american investment up to $59.00. and it also shows how his administration is continuing some of the hard line trying to policies left by former president donald trump. joining me out of the hill house, christine, hey, christy. so how would i order any different than trumps? i mean, it's kind of another order with the name of national security. it says we're going to stop china from expanding too fast. what is the difference here? is there any, is there it is, is essentially an expansion of trans policy. he's piggybacking off path preston, similar to how binding has all the kept the terrorists on chinese goods intact, indicating that he's not going to be easy on china. but these are all points that leverage to be used later on in negotiations. however, the twist to this is under this new order. the treasury department will be in charge of the list of band companies. previously, the company ministration put the authority on the department of defense, thought the reason for that is actually fix the executive decision issued by trump
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last november, which has been challenged successfully in american court because it did not clearly lay out the factual basis for banning investment and chinese firm linked to the fence industry. so that effort is now to make clear the reasons for each company does nation in hope that these bands would actually hold up in court. so the treasury department apparently had the deeper experience and issue and sanction versus the pentagon. now this order actually does not include names like d, j, i, we chat, take talk, or parent company by dance despite previous concerns about those companies links to china. so instead they will target several giants of the chinese telecom industry, some of which still operate inside the u. s. are partner with american companies. and not surprisingly, all way is once again listed. however, hallway not being publicly held. this order will essentially just ban americans from helping to underwrite its debt offering. that's really interesting because you know, a lot of the idea behind tick tock, according to the trouble administration, is that the chinese military and trying to government can gather data on americans . there's a lot of information from d, j i because of their drones that can be,
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can be pulled in. so the fact that that's been left out of this is a little different. what is the in go here for the administration? do you think so to me this order suggests that by then is attempting to build stronger barriers in certain core technology areas while narrowing the scope of its target. so china is now calling this the small yard high wall strategy in terms of the us china technology war. and the strategy calls for defining and very precise term, which technologies are key to american national interest and taking action to protect them from excessive chinese influence. so while these specific technologies have not been disclosed yet, we can obviously guess that it's going to have things to do with 5 g and advanced. i mean, and then ministration has also pledged to call for more brazilian domestic supply chain in these critical technology areas, given the shortage of chips we're now facing. so the small yard high band doctrine is less violent and less reactive than what we've seen in terms of the coupling. but the end result is almost the same. it's just that now, washington is giving
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a free pass to chinese apps like we try and take talk to satisfy consumers. but companies with products that are actually related to critical tech infrastructure. they may get kicked out about a minute left here trying to, i'm sure is going to retaliate. what do you expect to see? pass precedence will likely see some limitations on investment quotas and companies and they'll probably bands on american companies. but the thing is, china is arguing that the u, as in other countries, they're using that same kind of technologies and techniques, if not more advanced and intrusive means to track parents and drug lords. so why can china have equal opportunity to develop the exact same technology for their own purposes without being accused of using it for espionage? china is now the manufacturing hub of the world. but why should it just be limited to producing cheap paper and cheap plastic products? it's only creating the same technology that the u. s. and our pacing, the u. s. in certain areas, which is why now the u. s. as attempting to choke off, it's monday and choke off. it's are indeed to try to slow it down. we know that the
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us love the do, as i say, not as i do, foreign policy must go home because the, i think you thank you. i'm now for a quick break, but when we come back as cobra restrictions ease in some parts of the world, the airline industry is looking to get more travelers in the sky to find a number of regulations still in place between countries. as we go to break here, the numbers of the close, the me i don't know, i mean there's some steps in there who are rescuing the food that they were scabbing or, or where were rescuing resources that are still good. this is best by march 21st, which is in 2 days. all these potatoes, holla panels, onions,
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all of these came from waste round sources. this is great for me because i'm always looking for a way to give things away. dr. because the tax laws, you know, definitely do benefit the wealthier people in our society. so that makes sense for them to throw it out right off, rather than give it to somebody who could use it, then that person is not going to buy it. as a korea professionals, bolt is much tougher on some than others. 0. my are by everybody. so why would somebody believe me, i was just a little girl. the price paid to, to, to achieve really was, was to read in the paper this morning, usa swimming coach, arrested, allegedly had sex with a 12 year old girl. this happens almost every week. we get calls at the office. i
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get informed about one of my greatest yours is someone's going to start linking all this together. there's going to be a 60 minute documentary about youth coaches in sports like gymnastics swimming. is that documentary? see it on r t l look forward to talking to you all. that technology should work for people. a robot must obey the orders given it by human beings, accept where's the shorter the conflict with the 1st law show your identification. we should be very careful about artificial intelligence. the point obviously is to great truck rather than fear take on various jobs with the artificial intelligence real summoning the demon
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a robot must protect its own existence with safety for our annual summer solutions. when we look at the illusion of the problems today, we're talking to simon dick's, the bank for the future. he's been around since almost the beginning. he's got a wealth of knowledge the will starting in russia, the mo x is up for the week. the index is sitting at record highs. it's russian stocks are having their best start to the year. so it's 2013 raising $3700000000.00 so far, just this year. meanwhile, russian president vladimir putin spoke at the st. petersburg economic form on friday saying that the economy is ready to reach pre pen demik levels after
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a 3 percent contraction last year. moving to asian markets now the shanghai composite is down, but just barely for the week. continue tensions between the world's 2 largest economies. wait on stocks in china after president biden signed an executive order banning us entities from investing. and dozens of chinese companies with a ledge ties to the nation's military. in hong kong bangs saying is also down for the week. the index fell more than one percent on friday and mid rising concerns over chinese inflation after the purchasing manager's index for me came in just over $55.00, just below april reading shares. and alibaba fell on friday despite an group gaining approval to operate a financial services company and made china's anti monopoly crack down the new k in japan. they continue the downward trend there for the weak software group for more than one and a quarter percent on friday. and make calls to cancel this summer's olympic games in tokyo. organizers plan to move forward. they say, despite the majority of the nation, still being under that coven state of emergency on the economic front,
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a new poll from reuters economists suggests that the japanese economy shrink by less than initial estimates for the 1st quarter of this year. let's move south now to india with the since axes in the green. they're the reserve bank of india, and now it's friday that it would keep interest rates at 4 percent amid the world's worst outbreak of cobit 19. despite coven concerns, experts still expect a double digit expansion of the economy for the fiscal year, starting in april, down to australia now, and the s x is also up, the a s. x is sitting at a fresh record for a 3rd straight day on friday. banks led the way to close out the week after data showed the country's economy grew by 1.8 percent from january to march hitting pre pandemic levels. once again. so very good news. there was move over to south africa now the all share there in the green, earlier in the week the ran hit its highest level against the dollar in more than 2 years. so good news there. well, started fresh record highs. the index did fall off those records in the last few days, but still very positive for the week. now let's take
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a look at the markets over in europe and the americans as we fly north here in the u. k. the foot see was up for the week, but was mostly muted on friday data from the organization for economic cooperation and development, or the o e. c. d says that the nation's economy is expected to grow more than 7 percent in 2021. it's a 2 percent gain from previous projections. meanwhile, the bank of england says that it's keeping an eye on inflation concerns amid that housing boom in the country. the french crack in the german dax. they were also up for the week. german stocks hit record highs earlier in the week as the nation's economy minister says the economy could grow as much as 4 percent this year in france shares and single bane were up 4 percent on thursday as construction material. see inflate prices and all the way over to south america. now because we move across the atlantic to brazil, we have another green arrow despite concerns over covey cases in the nation. new date of release tuesday show g. d p grew by 1.2 percent from the 4th quarter,
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hitting pre panoramic levels, pushed up by agriculture, exports moving north to mexico. the b m. v is up, mexico has a big election over the weekend that will shape the future of economic policy. moving forward, the president of the country, andreas manuel lopez over the door also and now so the country would receive $1000000.00 doses of the johnson and johnson cove at 1900 vaccine. right here in the united states we have 3 more green arrows for the tao, the s and p 500. and the nasdaq government data showed $559000.00 jobs were added in may while the unemployment rate to 5.8 percent. and then of course, there's a mean stock amc continued to fall early friday after losing nearly 20 percent on thursday. the stock is still nearly 10 times higher than it was though at the start of the year and finishing up north in canada. checking out toronto, the ts x, they are up for the week up north, as is generally the case. the index follows oil prices rising on friday, candidates economy grew more than 5.5 percent for the 1st quarter of this year on
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a strong housing market. heading into next week, we'll continue to keep an eye on economic promot proposals here in the united states, as well as economic tensions between the u. s. and china. and that is your a global market walk. the as vaccination continuing, covey cases decline in many parts of the world. the airline industry is looking to make travel easier, but government may still be looked reluctant. as we head into the summer. our tea correspondent natasha sweet. explain the airports are getting busy or doesn't quite make up for the airline industry, losing some $126000000000.20. so as travel begins to gain some steam, airline industry leaders are hoping for more international travel. they have there on the g 7 countries 1st, inquiring if border restrictions in mandated quarantines can be eased for both those who are vaccinated as well as unvaccinated the request come one week before
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a g 7 summit meeting in england next week. one possibility suggested is touching passengers for the virus. international air transportation association has called for governments to utilize screening measures. they cited statistics revealing only 2.2 percent of travelers to the united kingdom through late february and early may actually tested positive for coven 19. and some travelers seem to be on board with the idea. i'm hoping that the airlines are taking was the propulsion, which they say they have. so we're actually excited as an infection rates have gone down more confidence in air travel is emerging. gregory 5, a colorado resident who says he traveled all during the pandemic has noticed a recent change in the way how some travellers i've seen a total difference in attitudes. and i'm not really sure what it's attributed to other than maybe frustration, especially because people don't want to be aware in math. they don't want to be bound by restrictions for many states are lifting their math mandates for transportation. safety administration is still requiring
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a federal mask mandate on all mass transits, including airports through the middle of september. the airline industry is protecting a loss of some 40000000000 this year alone. well, the airline industry has taken a hit as a whole insider say that travel will return to prefect and mac level by 2023 and officially say that us airports are seen close to 2000000 people a day. first time since march of 202-0144 whom bus and to receive well, that is it. for now you can catch boom bus on demand on the portable tv app or simply check it out at portable dot tv. the next time i
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the we are segregated all along my social class. most people don't know so in, in poverty by 1st, if you're born in to a 4 family, you're born into a minority family. if you're born into a family that only has a single parent that really constrains your lives, chances people die on average. 15 years old, you born into generational poverty. it's a, it's a fight every day to meet your needs and the needs of your family. me an entire village in alaska has
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had to move if another country threaten to wipe out in america, we do everything on our part, a project in water, they escaping climate change poses the same threat. right now, alaska has seen some of the fastest coastal erosion in the world. we lost about 3535 feet of ground in just about 3 months while we were measuring it is fast and that means the river is $35.00 pounds, then learning was yours or i think we're a part of america, the 3rd from or america ah,
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the the headlines, a sob internationally can make form in some petersburg, biggest event rushes financial calendar and his, its final day final few hours. now, guess of heard from keynote speakers, including president posts in who covered topics from the upcoming summit with joe biden. to know the string to pipeline project, to discuss know bilateral relations and we need to find ways to regulate them because they are very low points that the moment we have for vaccines and the accomplishments of our sciences have got wide recognition across the world. our partners have made a choice to the north chain to project. the 13 go on trial in france for soluble stalking. a death threats against a teenager who insulted is raising debate about freedom of speech in the countries roseburg. would say that he came from about the rising number of a league.

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