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tv   Boom Bust  RT  July 20, 2021 9:30am-10:01am EDT

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for days they haven't eaten, and many of them are afraid, but the violence awesome over. so there's a lot of panic buying happening right now. on the tip of the african continent policy, a r t on an account south coast. you're watching our team to national that brings you right up to date for this news. our band with more than 2 stories in about 30 minutes. hope. see that the war on drugs nodded as a way to come back. a great problem. what's the war on? it's part of the attitude of the nation, not just of north dakota, and it got to be something that you could get elected. this time, the fight against drugs took a tragic. he told us that andrew was competing insurance form. this is way too dangerous for him to be doing. clearly they put him in harm's way. a
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rural college student does interest get shot in the head and found in a river like that. something else had to be happening. the that says boom. bought the one business show you can afford them. it branch boar. and i'm rachel blevins in washington coming after buying and ministration. take steps to condemn what it calls malicious cyber activities from beijing. so who are the hackers in question, and what does this mean for china? and the us, well, this guy was opec has reached the deal to start listening, production cuts next month. we'll take a look at how the latest cell off is impacting markets and commodities worldwide. then we take you across the pad where the united kingdom has lifted its covert 19
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restrictions for public gathering pillory ford, which of the british american business association is in studio. take a look at the recovery and whether the nation can move past breakfast for the fact today. so let's dive right in. we leave the program with the biden administration publicly, blaming hackers affiliated with china's main intelligence service. for a far reaching cyber attack on microsoft corporation, the tack with against the company's e mail software earlier this year, monday the biden administration condemned the attack as part of a global effort to denounce beijing's malicious cyber activities. to the best of my knowledge and i'm getting a report tomorrow morning and this detailing for my understanding is that the chinese government not unlike the russian government, is not doing this themselves, but are protecting those who are doing and maybe even accommodating and being able to do it. that may be the difference. in addition for chinese nationals including 3
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intelligence officers were indicted over separate halfing activity. so was this attack against microsoft state sponsored? joining us now discusses boom bus co host, an investigative journalist, pen swan. now ben, we just heard the president there and president biden, and now it's monday that the u. s. government has high competence. he says that hackers tied to chinese ministry of state security or m. s. s. carried out the hack of microsoft exchange server software that emerged in march. what do we know about that attack? yeah, it's interesting that those words high confidence right? doesn't necessarily sound too confident. and the reason for that is because the u. s. military and a law enforcement agencies have not independently verified anything. in fact, the information that they have come from microsoft itself. microsoft has made the claim, they reviewed those claims and they say based on what microsoft has told them, they think there is a high likelihood of this. and that's an important point here. and the reason for
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that is because what we know is that this is certainly carried out. it seems like by chinese hackers. but remember, there is a difference between a state sponsored attack where the chinese military is moving to causes attack versus hackers who are from china. we've seen this language this conflation of language used before. and it doesn't mean by the way that that's not true, but we've been used before. we thought use, you know, when that group, the dark side shut down colonial pipeline because those hackers are russian speaking. there was a conflation in the media and by the, by the new ministration that this meant that it was a russian state sponsored attack. they indicated that it might be, but there's no evidence of that. so there's no evidence here that it's necessarily a state foster. this act, but certainly the hackers may be chinese. yeah, certainly is interesting to see the language that they use whenever they make statements like that. now. meanwhile, the justice department made public on monday, a grand jury indictment from may that charge for chinese nationals and residents working with the ministry of security alleging that they engage in
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a hacking campaign from 2011 to 2018. so why make these indictments public on the same day of the condemnation of the microsoft pack took place? i mean, are these 2 issues connected? why they're not connected actually, and that's kind of the point about the completion, right? when you can play these issues, when you start to talk about state sponsored attacks and then you throw in that, oh, by the way, we also know according to by the ministration. there are a number of these actual members of the chinese government who have been involved in these hack attacks and therefore we're going to can on the same day that we make this other anal with it, ties it all together. it makes it feel like oh, but we'll certainly see the chinese must be responsible for this in some kind of state. sponsored way. i do think it's important to point this out though. microsoft as a company is famously bad for having software vulnerabilities built into it. that are easily exploitable by hackers. this is happened for many, many years. and by the way, it's not just the chinese government. the table does it take advantage of these?
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in fact, the most famous one of the most famous of microsoft patches where they had a software problem led to the n. s a, creating a system by which they were gathering enormous amounts of information on people and governments around the world. exploiting a loophole, a backdoor built into microsoft system that microsoft didn't know was there at least that's what microsoft says and actually has led to most ransomware attacks that we know of today. because hackers then follow the in essays lead. so listen, everybody got their hands dirty on this stuff and i don't think i'm going to change anytime soon. but the idea that the u. s. doesn't also do this is kind of, it's kind of odd and bad. i want to shift gears. that's an excellent point you just made there, but i want to shift gears to another story that i know you've been covering today. we want to talk about new information that has come out about the israeli company and so group and their pegasus spyware. now a leak, a phone that is to get human rights. lawyers, activists and dissidence across the globe were selected as possible candidates for
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invasive surveillance through their phones. what is this story about? exactly? yeah, it's really the story again and israeli firm that has been selling spyware. and spying technology use through phones to governments all over the world who have been turned around and have been using that technology because the technology is originally built by the way and build as being something that could be used to stop only the most terrible people, the most dangerous people, only terrorists only, but the governments around the world should be trying to stop. and instead, predictably, it's been turned on who has been turned on human rights activists. it's been turned on. activists and free speech activists around the world. it's been turned on. women's activists around the world. it's been turned on boy years. it's been turned on journalists. and there is a list of more than 50000 names where the phone numbers of individual journalists and activists have been gathered and collected and stored and have been spied upon
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. and in some cases, had their entire catalogue of their cell phone, their, their cell phone data, their contacts, their photographs, and their pictures. all of their information was, was able to be hacked and collected by this firm. and again, this is a private firm that's doing this on behalf of governments around the world. and it's incredibly troubling that is incredibly traveling all around and you would think that the u. s. government would be speaking out about it more. it's interesting how the countries that are behind it or involved in it, rather the ones that they seem to be targeting based on who it is. now, the fact that political dissonance, journalists and activists were targeted, do you think this form of government surveillance is meant to spy on people of other countries or within the country purchasing the spyware? but in most cases, it seems to be used by those countries. so india is one of the big offenders on this list where president mowdy has prime minister motor excuse me, has taken this company worked with them,
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been able to gather information on political enemies. and it's happening again in many different places. the president of azure by john has been using it as well. and so what we're seeing is kind of a long list here of these different governments around the world that have taken the software and they're using it to target those with whom degree. and guys, let's, let's be frank here. this is a predictable outcome. it's the only outcome every time we do a story like this, right? it's quiet for some time and find out how is the technology use and abuse? it always goes this way. and why would that h boom bus band swan? i'm sure there will be more to follow on this. thank you so much for following the stories today. oil prices are down to start the week following the end of a standoff between opec allies. now, the cartel says it has an agreement to begin rolling back to the production cuts that were put in place at the start of the pandemic. but with the surgeon covey cases, weighing on markets around the world. questions remain as to how long the sell off
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will last and how it will impact the ongoing recovery. so joining us guys is michelle snyder, partner and director of training research and education for the market gauge group . now, michelle, we saw that oil fall below $70.00 a barrel on monday. how much of an impact did the opec agreement have? and how much was fueled by concern that global demand could be offset by the rising coven cases? well, as of friday, you already starting to hear rumors that opec was going to actually come to some level of agreements. and just to rehash what the agreement is, is that going to drop, excuse me, increase the production 540-0000 barrels per month until they get to the $5800000000.00 barrels per day that they had been doing before the whole coven started. so there's good news and there's bad news to that. obviously if you're an oil ball, it's not such good news if you're hoping for some kind of reprieve at the pumps,
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maybe we'll see some of that which would be great. but on the other hand it's a good. ringback thing because if there were no agreement, and if you pick was really showing itself as being sort of out of control, then you would probably get into a situation where you would have individual countries deciding to turn the spigot on and let oil flow freely. and now there's some uniformity there. so for the most part, it's down searching percent from the highs. it fell almost 7 percent today. as you mentioned $6566.00 barrel. we're looking at $60.00 a barrel because the delta varian definitely has an impact. a lot of the countries and cities around the world have now cut back and has gone on to lockdown again, which of course, it will effect the immediate demand. but we suspect that this will be a bi opportunity at some point, looking maybe around $60.00 a barrel. goldman sachs came out and they still feel that it's going to go to $8085.00. maybe,
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maybe not. but once that global demand starts to come back after the very and we hope subsides, then i think that also turned to be bullish oil. of course, even these have been hot and all this talk about reducing carbon emissions, but we're still very oil dependent. as we learned last year when the texas freeze happened. and now michelle, we, we've talked a lot about the concern that opec wasn't producing enough to keep up with the increased demand as areas continue to open up. and obviously it seems like in the last week, a lot of that situation has changed. how do you see the timing of this agreement to gradually lift those production cars as we see more places re entering, locked down in a new wave of coven, concerning? oh, it is an interesting timing. they tend to somewhat be behind a little bit here with opec. i mean, you remember last year as the coverage was hitting and we had that huge surge of oil. but i think it'll be interesting to see what they do in terms of their timing here. it makes sense for them to actually increase production a little bit,
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particularly as we, as we just talked about, we're seeing the price of the oil going up. and of course, that affects the consumers, but on the other hand, they may not necessarily be so readily able to deal with what happens when global demand starts to hit up. again, as i said, when other countries come back. so i would say that the timing may be a little bit off, but again, the good thing is, is that opec actually showed itself is still a governing body that has some credibility when it was starting to lose that. when they finally got to that point and making an agreement now while we have you on, i also want to bring up the state of markets around the world. we saw that they took a hit on monday with the dowsing, is the biggest drop of 2021 falling over 900 points. and i know we've talked about all of the record highs how long they can last. they've got to come down at some point. so how are investors seeing this rather than cobra cases, and is their fear that it could have a serious impact on the progress that has been made? well, to answer the 1st part of that question, a lot of investors, myself included,
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have been talking about since june, which really was that as nasdaq was making new highs in the mega cap growth. stocks were making new highs. you saw to see stress even before the delta various hit, the headlines side and the small caps, which will already going down and broke down under a key moving average. same thing with transportation. same thing with the financials. even the energy market was some the come down and even retail looked like it was peaking out. so a lot of this has to do with the delta, but most of it has to do with the fact that if the market is looking ahead, which it tends to, there still may be a certain demand again, after the variance is sort of over. but we still have issues here in the united states. i sort of affect the entire global scenario, which is, where is our growth going to come from? we still have record debt, we still have a huge money supply. we still have a double bed that cannot let go of that gas pedal because we can see what happens even a hint of it. so i think that the delta variant is the headlines that people can
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sink their teeth into. but we've been seeing problems for a while, and we kind of think we're heading into a stagnating type of market where it can go sideways, maybe a big range. and we're still looking at the possibility of that inflation hitting us again with the global demand returning maybe more like september. and michelle, i have maybe 22nd left. but are we going to see this throughout the week? or we're going to see those big drops. i mean, we're not seeing anything like we saw in march of 2020, obviously. but is that a concern that we might see it to continue to kind of plummet? well, valuations were very high. so we are seeing at least some kind of back to normal. see in terms of evaluations and they're still high. so some people would say, oh, we have another 20 percent down, but that's not what i see. i think that what happened is finally last year, stock prices got reality. they got reality after watching all of the inside sectors fall. so i'm say at some point we will seal
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a support level and i think you could really have to watch the small caps here. maybe we're close it around to 10 in the i w. m. inside, as always, michelle snyder the market gauge group. thank you so much for your time. thank you so much. employees around the world may be returning to the office, but the company that made it easier for them to work from home isn't going anywhere . and fax, a video conferencing software provider zoom is looking to expand its services with the purchase of $59.00 for just $14700000000.00. 59 is a cloud based software company that specializes in using artificial intelligence to help companies interact with their customers from all languages and locations. the deal is seen as a way for resume to change services, while also capitalizing on the fame it gained at the start of the pandemic. not only is zooms 1st $1000000000.00 acquisition, it also sets the company up for direct competition with amazon and time. now for
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a quick break, but when we come back, when you k lifting restrictions, amerisearch and over 900 cases, we'll go over the move and the latest turmoil created in post breakfast britain. that's going to break here the number to the quote, the oh right now there are and people who are overweight or obese. it's possible to sell food that he's 20 and sugary and healthy and addicted. not at the individual level. it's not individual willpower. and if we go on believing that will never change as obesity epidemic, that industry has been influencing very deeply. the medical and scientific
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establishment, ah, what's driving the reason? it's corporate me an era of confusion about the inflation is giving way to a new era about the confusion of inflation ah, the eastern half of the united states were going to have billions, if not trillions of periodical cicada is interacting with tens of millions of human beings in their backyard oh my god. obviously some of the cicadas do not have very high tolerance for alcohol because they are already passing out
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for 6 minutes, 400 i mean that very satisfying. the welcome back. it's been dubbed freedom day, the united kingdom on monday took a major leap forward or toward returning to some of normalcy. lifting nearly all remaining coven related restrictions on public life. so moving forward, there will no longer be limits on indoor gatherings. the one meter social distance, a rule has been removed, and mass have become voluntary. meanwhile, british prime minister boris johnson is spending 10 days in self isolation have come into contact with someone who tested positive for the corona virus. the u. k. vaccine minutes are not human how we commented on the relaxation of rules monday,
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saying the public must remain cautious. so we have to be careful. we have to remain vigilant. would have controls remain in place. our expectation and recommendation that people in crowded places continue to wear masks and take both personal and corporate responsibility. there is no perfect time to take this step. this is a good a time as any, as chris, which he has said with the summer holidays of schools being out and for more on the free and hillary for. but she's a board member of the british american business association and president of straw mark, business development consultants. hillary always a pleasure to have you in studio with us now. the lifting of locked downs comes as the country is facing a surge in new cases. not seen since january of this year, in fact, brit recorded more than 54000 cases on saturday and another 48000 on sunday. so why push ahead with this right now or pleasure to be back with you to, to brenda,
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be in studio couple of things. first of all, this is a delta variant, and it is not a fatal. while there are many cases you're totally right about that. it is not a fatal as the previous variations. so that's one factor. secondly, this was a plan that was in place a long time ago. the british public has been promised that july 19th today would be the freedom day and the opening and it started at $121.00 am and the night clubs in london were booming and busting to the scenes of people. but a couple of things here. you mentioned about the installation protocols that is from the n h s to national health services board johnson, the prime minister has to now isolate, so it's all rob, ironic in the u. k that he's isolating on freedom day for 10 days. it's called the test and trace app. so in the u. k, people are calling it this now is the pin ping demick because you're paying to buy your app. so now directly to your question, this has been a long plan. they've planned to go ahead with freedom day for a long time. they did not anticipate the surge. there is speculation that it could
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have been something to do with euro, that there were 67000 found wembley and has this spread because this variant has affected more cases, males and females. and many of those are the spectators that so it's already been planned and that's why it's going to head. it's not to say that it won't be rolled back. and i know that there's a lot of excitement right now about this freedom davidson at the same time, we're also seeing this rise and coded cases. so if there is a chance that they have to go back to those restrictions back to some sort of a lockdown, how damaging would that be on the economy as a whole? well, it definitely would be damaging rachel, of course, like it would be to any con, maybe a couple of things about the u. k. and how well they've actually adapted over 80 percent of the population in the u. k. has had at least their 1st job, which is what they call bath vaccination. so that's very good. that's why the u. k . economy actually has remained so healthy. and so many workers have been able to go back. also a lot of adaptations in the u. k. like here's a couple of tangible example for you. now 75 percent of shoppers say that they are
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shopping online versus pre previous to the pandemic. there were 3 drive in movie theaters in the u. k. called cinema was now there are 42 in the u. k. so drive in everything that never existed in the u. k at all. so i think the economy has adopted very well. i don't think it will be a hard hit with a 2nd shut down. because there is far more adaptation and the economy has adjusted also, you're going to see that the borrowing know from the government, which is the highest it's ever been since $946.00 is going to increase. that is a long term worry. how will this government borrowing affect the long term economic prospects for the u. k. in any other country that has the shut down and the u. k. won't be alone there because as we talked about last week on the show, the global debt in general is up because of all of these stimuli right now we've talked to at length about how the breakfast rex it saga is far from over. writers. is that reporting that the u. k is expected to call for changes to the northern ireland protocol, which was
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a major sticking point in negotiations as they finalized the divorce. what is the issue at hand here, and does it put further tension on that contention relationship that we've seen between the u. k and the you at this point yes, brand is not going to become any less contentious. this is actually referred to, colloquially as the sausage was because a lot of it is about cold meat going into northern island. quite a while ago when i was on years ago, she went, she started talking about brakes that i said that i didn't understand why it's cool breaks. it was an ox it because ox, that is the knighted kingdom of great britain and northern ireland. northern ireland is part of great britain, why it was called bricks. it is not just about britain, and this is the issue that what the protocol right now basically establishes is a border right through the sea between the u. k. an island. and because they want to make sure that the troubles that occurred about 30 years ago with all the violence don't reoccur because you don't want to land border. so to answer your question, nobody really knows what's going to happen because the u. k is going to press on
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the c u. k is going to press to have open access so that all of the meats and every other product can go easily internal denial and not have that border through the c . so frost, who is the, the u. k representative going to position this, he is actually going to fight for and he's going to try and move to have the northern protocol basically eliminated. no one really knows. it's going to happen. feels like the driving force all around here. now while we have you here, lastly, i want to ask you about post for exit trade with the us. weird from u. k. trade secretary lives trust downplaying. a quick deal between the 2 sides saying that getting something done before the end of the year would be extremely fast. well, analyst believe the 2 sides won't be ready before 2023. so what is the state of negotiations there and what can we expect? right, you're right. about less tough being over here on the i think the reason she's saying that she's downplaying the disappointment. and that is that don't forget the great relationship between former president trump and board johnson. it was president. trump said that he wanted to rapidly sign an agreement with the u. k.
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don't forget that president obama, of which, of course, president biden was his vice president had said that the u. k. could get to the back of the line if the breaks it went through. so the answer is that there, stalling and biden has, and his right and biden has basically lost the opportunity to push through any tre deal. she has said, it's better to have a good tray deal than not at all, and that's what she's doing. she's basically trying to soft from the blow of there being no tre deal to be 2. 1 good part though. section $232.00, which is about the steel that the british government has pressure to have alleviated. that is looking like it's going to be good, but it still hasn't been signed. many parts have gone through, but it still isn't finalized. and hillary, we always appreciate you coming on your you give us some clarity to some really tough topics and also to top english. you know, because all i figured it feels like we speak different languages. roberts, have you had to explain to us colloquialism,
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great britain. there during the segment, a load always appreciate it. hillary for to the british america business association. thank you so much for your time. pleasure. brand rachel thing. and that's it for this time. you can catch boom bus on demand and the portable tv app available on smartphones, tablets through google play, and the apple app store. by searching portable tv. portable tv can also be downloaded on samsung, smart tv, and roku devices, or simply check it out portable dot tv. well see you next time me long. when i would show the wrong one, i'll just don't rule out the thing
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because the after an engagement equals the trail, when so many find themselves with the party, we choose to look for common ground a. ready ready watch crunch. class enough. i often saw the culture blue book truly i don't want the because it's always more use to meet the teacher. could contribute usually through which practice and gone. yeah. cuz really knew from the
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moment that she's in the venue. it's not a monumental chopsticks. i'm going to do it. i join me every thursday on the alex salmon show and i'll be speaking to guests in the world. the politics sport, business. i'm show business. i'll see you then me the war on drugs started as a way to come back, a great problem. what's the wonder? it's part of the attitude of the nation, not just of north dakota, and it got to be something that you could get elected. this time, the fight against drugs took a tragic, told us that there was
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a competence short form. this is way too dangerous for him to be doing. clearly they put him in harm's way. a rural college student does interest gets shot in the head and found in a river like something else had to be happening with the grave systemic failures. germany faces, criticism not doing more to prevent last week's flooding. tragedy. despite previous warnings, stations claimed almost 200 lives and caused damage amounts to billions of years. have been an assassination attempt on molly's intern president the attack occurred during the press service in the west african nations central. despite in your pockets a major league sparks worldwide outrages it alleges his rarely developed phone spyware. it's been used by governments round the world to potentially snoop on
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