tv Boom Bust RT July 17, 2021 5:30am-6:00am EDT
where the supply side of the equation is broken, knower entering into the supply shocks where there could be micro chips for example, or basic commodities or sharply. there's a food insecurity now by hundreds of millions of people around the world just emerging over the past 12 months. because of it's runaway inflation, because of the runaway money printing as we've been bank for a few years. so now people are really coming to grips with the fact that as the reports been right about it, what the this is in bustling business show. you can't afford to miss. i'm rachel blevins and
i'm bridge bore and watch i think coming up rising in play to remain in focus in now us treasury secretary janet yellow and is saying it may not be as temporary as one was one believe. but does this mean it's time to shift that monetary policy will discuss? then twitter says it is seen an increase in government demands to take down posts from journalists will go over what it means for the social media giant. and later, as the entertainment industry is fighting to get back on his feet, we'll take a look at where the public is investing and help streaming services are giving movie theaters a run for their money. we have a talk show solace dive right in. we started the program with the latest comments from treasury secretary, janet gallon, while continuing to justify keeping the funds pandemic policies in place. she admitted that several more months are rapid. inflation should be expected. this might warning signs in the housing sector. she said she doesn't think the u. s. is seeing the same kind of dangers. saw in the run up to the 2008 financial crisis.
she called it a very different phenomenon. but she did say that she's worried about the pressures that higher housing prices will create for families with less income. however, international investor, jim rogers argue that there is cause for concern. and the government's continued claim that inflation will only be transitory, should not be taken at face value. so michelle should degrees from to fancy, i believe universities. and so she's certainly are educated, smart woman. so she says everything is okay, you don't have to, we're not going to have economic problems again because washington have solve the problem throughout history all over the world. we have had recurring economic problems, whether we like it or not. it would be wonderful to people in washington dc of now solve our problems forever. i am dubious and skeptical and history would indicate that despite her ivy league degrees,
they're going to be problems again. turning us now to go further end up on this is jeffery chapter contributor with real clear markets. now jeffrey, we keep hearing from the government that inflation won't be around for a long, but then they say it will get worse, but it still won't last. what are we supposed to make of this messaging when it seems to flip flop consequently? right, so there is a problem here with the credibility of, of these governments spoke simply iverson's 2 weeks and flattened the curve. very difficult to take this kinda so seriously. so you know who you going to believe, you know that officials are your own eyes. i mean, americans are experiencing higher prices all the time and it's not just chance or yes, there are some intense problems and things like, you know, the car market, other places where there's supply chains that are broken as result of locked out. but, you know, for the last year and a half, the fed has been buying this newly created money. you know, everything inside, including the mortgage backed securities. so you know what, why they doing this?
and you look at the no matter how you want to reassemble the money supply data, it's extremely that we're looking at hockey sticks across the board, whether it's the monetary base or a monitor him to whatever they use. publish mbm, they stop doing that, which is already kind of suspicious when it fed starts publishing and thought monetary aggregates. you have to wonder. so just there are other factors that mitigate against completion. but at some point to kind of come back to bite us, you know, what happens if a velocity suddenly reverses directions and it kind of growth, you know, just start soaring. you know, it's a fed have the tools to soft us excess liquidity. i mean that's the question i think the answer is both. they don't have the tools and they don't have the incentive to do it. that's a problem. well, and jeffrey, i mean like to your point there, the housing crisis have skyrocketed and yet admitted she is concerned. it will impact low income families. but there is very little talk of pulling back those
policies that you're talking about. mortgage backed securities, low interest rate that are keeping those mortgage rates so low. i mean, obviously i would imagine you believe that it is time to pull that policy back in and do something, but why would they keep moving in this direction? no other contempt economic growth in the negative direction. again, i'm the, everything is a big balance and actually the fed right now, you know, they want, they want to pump up the economy and cover up for the egregious policies over the last year and a half at same time, to risking, you know, creating more financial bubbles, the housing situation is a mixed thing. it doesn't seem like a speculative bubble like you had in 2008 because there's real supply and demand factors here that are driving it. but then you look at fed policy buying this mortgage backed securities all over the place, and then you remember that they'd also deny that there was a bubble in 2000 a. right. so it's the same thing. back then allen green centers all over testimony say no, there's no, but there's no bubble. so you know that, i mean, sharing,
i don't think they know any more than your viewers know about about what's, what's coming here. this could be, you know, a terrible speculator bubble and how's it and god knows what other kinds because dislocations are taking place beneath the surface. so we can't really see. yeah. now staying on that topic of comparing to what we saw back in 2008, one of the things that y'all and mention is that she believes this is a very different phenomenon than 2008. i mean, is that the case? and should there be more concern when we continue to feel like you said, those warning signs that remind us of where we were 13 years ago? yeah. so this is the thing, every single speculative bubble, every one of these incidents are different from every other one. so it's always going to be, you know, sort of almost by definition true that we're, we're not going to repeat exactly what happened in 2008, 2009. however, we are repeating the same policy errors, you know, and she says, well,
there's not refueling. how do you know that if you're keeping rates constantly suppressed like this, you know, you're going to incentivize borrowers who otherwise wouldn't borrow. you know, how much risk is too much too much risk or what find the risk become actually dangerous as versus, you know, sustainable. these are the things you know only want the marketplace to sell out. everything is clear in hindsight today or it says, oh, we knew them bubble in 2008, but nobody was saying that then. so i'm getting a lot of vibes here that are, that are extremely creepy. there's no installation, there's no housing bubble. everything's going to be fine. everybody just relaxed except, you know, a few weeks later they said, well, it's not as fine as we sought, but it's still eventually going to be fine. and so on it goes, i think there's every reason to worry. we haven't repealed basic ignite law, you know, i mean that is going to come back and bite us in a variety of ways. you know what they say. hindsight is 2020 inside as always jeffrey tucker. thank you so much for your time today. thank you. and
a new report from twitter claims that the company size surgeon government demands worldwide in 2020, to take down content posted by journalists and news outlets. and it's transparency report published on wednesday, twitters, that verified account of $199.00 journalists. news outlets on platform. phase 361 legal demands from government to remove content in the 2nd half of 2020. that's up 26 percent from the 1st half of the year. this says the u. s. surgeon general is now flagging post for moderation on facebook that it calls problematic. joining us now to discuss his boom button and swan, and you know, we should those social media analyst in there as well. men, of course. now, coming back to this twitter report where governments are asked to center journalists, this isn't just in the united states and our government were talking about, right. so, what are you seeing here? yeah, it's a, it's a number of different countries including india and russia that have made these
requests. what's interesting about this is india actually led the way, but the most requests of any country. but it's the 1st time that any country has had more than the united states. and remember, these are verified accounts of journalists on twitter. now, even that's a little suspects because that means that twitter is the one who's determining who's considered verified journalist or not. but the bottom line is that you have governments who are making requests for content being put up by journalists to be censored or to be removed. and that's very, very problematic. now, for their part, twitter did not honor most of these several 100 requests they received. they only honored 5 of them, went to 5 down, but they didn't explain why those 5 were taken down. i think that's a problem also. now it turns out it's not just on twitter, right? we're also learning as a binding ministration is playing an active role in flagging facebook post. it considers to be problematic or dis information according to white house press secretary gen saki. so what do we know about this, and how are they justifying it?
well, the problem is they're just find it under this term that is being thrown around. now miss information, which by the way is a very strange term because it doesn't indicate that something is untrue or something of a lie. and even then i would have a problem with a government saying, you know, social media company take down this content because it's a live freedom of speech, protect us. even liars, from government trying to control what they say. but in this case, they're not even saying that they're saying this miss information and what does that qualify as well? miss information is information essentially that the government doesn't like or information. they say, well, it may be true, but people are getting the wrong idea from, from digesting it. and therefore we have to control it. an example of that, you know, there's this website, the cdc has that, where people self report injuries and deaths, according to corona virus, is called the there's reporting system when someone goes on social media and post the government numbers from there's that information is taken down. the by the administrator wants to taken down, right, because they say it's misleading or it's harmful to their cause to get people to
take vaccines. and so this is enormously problematic. glen greenwald, who obviously broke a lot of news when it was found to be intercept to the interview. the edward snowden talked about this. he says we had for years, people screaming that, that trump was a fascist, and we had a fascist white white house. he says, how is anything more fascists than a government directing social media companies on what content to purge and to sensor what's more fascist than that. and then we talked about this at the beginning of the se, but the surgeon general's office issued a new report wednesday titled confronting health misinformation. that makes recommendations for social media platforms to impose clear consequences for account that repeatedly violate platform policy. now is this, i guess problematic is they say for a government agency to be given so much control over compet and i have about 45 seconds. i think it's extremely problematic. you know, and government agency any time should not be given authority to number one, moderate content, they have no authority. moderating content. number 2,
the gin thought he said that the goal is to get facebook and twitter and these other social media companies to promote and boost content that they say is authoritative versus content that they say it's not. they want that content purge, and they want repeat offenders to be removed from the platforms. how is it any different than what china does? how is that any different than what happens in q, but we talk about a lot right now, right? what's different? what happens in a way like it's state run media, and i think it's a huge problem. boom bus band swan that's reason right there. that is a reason making so much. thank you. we have a, has issued a new directive aimed at boeing and have 737 theories. the agency is raising the alarm about a possible problem with the plane cabin altitude switches that could cause oxygen levels to become dangerously low. if the switch doesn't activate over 10000 feet as a result, the f a is ordering operators to conduct repetitive tests of the switches after
2000 flight hours. it will impact more than $2500.00 us registered airlines. and more than 9300 planes worldwide, the agency has yet to say what it believes cause the issue in the 1st place. time now for a quick break, but when we come back as a place, very pressure is continue to mount global market. our mix. we'll take a look at how equity shook out for the week as we're going to break here. the numbers of clothes me ah ah ah
contribute usually. so would you practice and gone? yeah. cuz really knew from the moment that she's in the car is not a monumental chopsticks on the look on top of the global equities are once again mix for the week of mid inflationary pressure and a whole host of new economic data. we start in russia where the mo, x is down ahead of central bank meetings next week, where it is expected to raise interest rates for the 4th time this year. meanwhile,
in comments published on monday, the russian finance minister issued a warning that global stimulus measures create the risk of increased market volatility and slower growth. moving to asian markets, the shanghai composite is down, it dipped on concerning and placing data out of the united states. but the composite was able to rebound some of the last on thursday after the nation reported gdp rose 7.9 percent year over year in the 2nd quarter, just below expectations. retail sales and china were also up 12 point one percent year over year for the month of june. hong kong we have our 1st green arrow for the week with the hang thing. the index followed similar trends to shanghai, but banks did well to close out the week after the people's bank of china injected $17000000000.00 in liquidity through open market operations. on thursday alone, alibaba and 10th, and each saw gain of more than 2 percent to hold up the tech sector. we have a red arrow in japan for the ne k, the index dipped at the end of the week as the nation central bank downgraded the g
d p. growth forecasts for the year from 4 percent to 3.8 percent as held monetary policy in place that moved to india. the centex is up the reserve bank of india said in july bulletin on thursday that g d. p growth is estimated at 22 point one percent for the 2nd quarter of 2021, adding that while inflation is picking up, it should subside by the end of the year. where have we heard that before? the nifty index off significant gains of more than 3.5 percent on thursday, but fell just shy of one percent on friday. we have another green arrow in australia. the country faces its 1st economic contraction in a year in the 3rd quarter, due to locked out its biggest city sidney. most of the games were made monday to start that week. but mining and energy stocks, they were able to weather any issues, performing the best. and in south africa, the all share is up while stocks are up for the week. as a whole, things were falling to close out. the week j. p. morgan says right over the jailing of former president,
jacob's duma could cause the nation's economy to contract by 3 percent for the 3rd quarter of this year. now let's go over to rachel. take a look at equity and how they fared in europe in the americans. thanks right here we start in the u. k, where the 50 is down. concerns over arise encoded cases have clouded prime minister boris johnson's plans to lift lockdown measures next week. as the u. k reported over 50000 new cases on friday for the 1st time since january. nearby the german dax and french cack are also in the read. the delta vary has sparked thousands of cases in the region leading to concerns that it could force new locked downs and hurt summer travel just as it returns. however, the latest data shows that the euro zone saw annual inflation at 1.9 percent in june, which marks its 1st decrease since last september. lets go across the atlantic to brazil where the evil best but is in the green. while the country raises outlook on inflation and admitted that the economy did shrink and may contrary to expectations,
brazil's economic ministry says it's g d. p is expected to grow 5.3 percent this year. from the 3.5 percent there was previously expected. and over in mexico with the b, n. b is down, but just slightly when compared to brazil, mexico is counting more expected growth. where the g d p up 5.9 percent instead of the 4.7 percent. that was expected. but inflation is still set to jump to over 5 percent. and here in the us, the tao is in the green despite a shortfall of nearly $100.00 points on friday. while the nasdaq and the s n p r in the red. although report show that consumers are spending, markets were still hit by the latest report showing annual inflation at its highest in 13 years. and finally in canada, the t s. x is down. now, while the country central bank joined the course, warning about inflation. official said they were optimistic that the threat of cobra has largely passed while they kept record low interest rates. they did move
forward with pulling back on government bond purchases. moving into next week, we will continue to keep an eye on the state of the global recovery and how does impacted by the latest wave of cobra cases. and that is your global market walk the and after nearly a year and a half of struggles due to the cobra pandemic, the movie industry is working toward the come back marvels, black widow, set a pandemic era record, bringing $100000000.00 domestically in just 6 days internationally, the film gross more than $200000000.00 so far and generally for a big budget marble film. these numbers would be very concerning. but remember, 20 percent of us cinema has remain closed in some key international markets, including parts of southeast asia and latin america, a close to stop the spread of new cove. it varies, however, black widow also made an additional $60000000.00 on streaming platform. disney plus
we have to pay a premium to watch the theatrical release. so what do these numbers mean for the future of the global movie industry? to answer that question, let's bring it off the air beating. he's a senior media analyst with com scored an overall friend paul, i want to start with start with the opening weekend for black widow. it obviously did good in the us as the discontinue reopened, but globally numbers weren't that great without the film currently showing in china . how big of a concern is it that it isn't in the world, the biggest movie market? well, i think that the way it performed in the markets that it did opening was quite good . 158.8000000 globally. that's a really strong number. and like you said at the top, it is in traditional times just to be seen as kind of a disappointment, for a marvel movie to do only 158800000. and yes, without china. i mean, that's
a huge marketplace for movies, but i think this is really a good sign for an industry that was completely sideline. for example, a year ago, the total box office, let's just say for the july weekend, one and a half $1000000.00. that's it. and ghostbusters from next, and you mentioned the $60000000.00 plus in streaming revenue. the most striking thing to me was that disney actually reported that along with the movie theater box office data this past sunday. but they a lot to crow about because $60000000.00. that's a lot of money. it absolutely is. and i want to touch on that point. you made there the fact that we actually heard from disney plus they made that $60000000.00 from streaming this version. and generally we don't see this kind of data to know just how successful it has been. now, when we are seeing these types of numbers, is it putting pressure on studios to continue to release 1st run films in theaters and also through premium video on demand at the same time?
well that's, that's the multi $1000000.00 question. because if you look at a quiet place part 2 and period 9, those enjoy the actual 1st releases and we're hugely successful. so i think it really is not a case by case basis. what i've been saying, we're in a box office laboratory. every week we're seeing different movies released from different genres, released with either dynamic when doing day and date releases, meaning in theater, and streaming the same time. then of course you have disney premium. you know that premium access, which is $30.00 to get a big movie. so you've got like so many different ways to release a movie right now. it's hard to keep up with the release dates, and then on top of that, you've got all these different modes of release. i didn't. consumer confusion may be a bigger issue than anything else. people may not know consumers is this available free on my subscription based service? is there an additional cost?
will it be in theaters? will it, you know, how long will it be in theaters? all that comes into play all accelerated by the pandemic. and we know that, you know, services like hbo, macs, and disney plus have been doing a lot of the simultaneous, as you said, day and date releases. here in the united states, are we seeing that same trend and other big movie markets globally? we know that the availability of streaming services in different international territory is different. and disney indicated that the $60000000.00 representative a global spend on disney plus. but that could mean north america plus a few other countries. not every country had that. not every territory had each b o max. so there's also that fragmentation trying to figure out what these numbers mean. and let's put this in perspective. when it comes to box office numbers, they're chosen so transparent and easily available. we become so accustomed to
getting these numbers every day, every weekend we get estimate on sunday morning for the weekend box office. so we're like, hey, where are the streaming numbers? we want them right now, but it doesn't really work that way. and remember, one ticket per person for one movie is kind of easier to track than a subscription based service layer on top of that with a premium p bought or premium b o d model. so it gets very confusing in a sense, but that's the world we're living. unfortunately, paul, we are out of time. i wanted to get a little bit of space jam before we go, but we'll get to that next. type altogether. beattie and senior media analyst with comscore, always fun to talk about the industry with you. thank you. and finally, the person who shelled out $28000000.00 for a seat with amazon founder jeff basis on blue origin. first, also 1000000000 trip to the edge of space will not be making the trip after all. so why would the anonymous, bitter, or winning bitter, that is say not be on board for the launch scheduled for the 20th of july. well,
according to report, there was a quote scheduling conflict sitting in for the original winner of the trip will be 18 year old oliver damon, a physics student taking a year off before heading to college and son of somerset capital partners, ceo jose damon. it's unclear what was paid for the feat. damon was originally scheduled to be part of blue origins, 2nd crude flight. rachel, what could be more important than going to space and you could just had a meeting. mean that's an excellent question. i mean, do they have a doctors appointment and what made him change his mind, or was he not even planning to go in the 1st place? i mean, you're talking about someone who has data mystery is entire time still remains a mystery. and now we don't get to find out who, that's an interesting theory, rachel blevins, you might be on to something, and that's it for this time. you can catch boom bus on demand and the portable tv app available on smartphones and tablets. you google play in the apple app store. my searching portable tv tv can also be downloaded on samsung smart tv, roku devices,
or simply check it out portable dot tv will see you next. me i when i see black america, i think of myself. when i was growing up, like america spoke to me, when, why destroyed you did not. those who said black lives matter is a movement we are importing from america. no, nothing. if we lived in a world where life lives mattered, i was no white. like ms. newman and i wasn't new from black america. i learned how to speak back to why i bridges people are more of
them now that the police were out more with statistics. i'm scared that my children are going to grow up in the country. that thing says no racism, but they're more likely to end up in the criminal justice system than their other fellow friends in day care. me the cannot they are to say that in law politicians or under work. can you been there to say that to people. oh, we have to reduce the comes from so this is why so far the consumption issue did not was not taken up very seriously. so or, but it's a very serious issue. so we cannot address the climate change issue unless the people are on the word realize that we cannot continue our overconsumption as we are doing now. the
she was simply real thing a little slow, letting them go by susan. well, the longer i was going to go and see me when you have a week when you have a meeting in the room. pathetic female field on the, on the which no come for the else was going to fail and look at me and i started the nicholas and it's going to you soon. the she was just looking here. when you mentioned kim illusion this little thing and script on, on the, on the financial young, moody and delusion you lose prison. you can shoot me to the lower
ah, the baby bassinet station and destruction. a major cleanup operations underway along with search and rescue efforts following torrential rains and fatal flooding in germany. the people are dead and many more are still missing. also coded loans, the sicilian region of italy into poverty crisis authorities, also war in the changing seasons will be even more challenging for local community for us and uses russia and china running smear campaigns against western vaccines, but downsize washington issues. more warnings.