tv Boom Bust RT July 21, 2021 3:30am-4:01am EDT
reserve should have the freedom to take whatever actions it bills are necessary. that's the latest message from president, bite it, as he started the tremendous growth the u. s. economy has seen, but of course, that's when we compare it to 2020. now, while prices have seen their biggest jump in 13 years buying and set his administration is confident that it won't stay that way for very long take a listen in the data shows that most of the price increases we seen are, were expected, and expected to be temporary, i want to be clear, mind ministration, understands, and if we were to ever experience uncheck inflation over the long term that would pose a real challenge to our economy. so our confident that is what we're seeing today. we're going to re vigilant about any response that is needed. joining us now to discuss is, boom, boscoe host an investigative journalist, been swan. now ben biden claims, there is proof that inflation will only be temporary. but i mean,
is there anything to suggest that prices will actually go down, or is the expectation that they will eventually just stopped going up? well, i think it's more of a ladder than the 1st. there is no indication right now that we're going to see prices actually go down at this point. in fact, some of the more recent claims that are being made by the fed even is that it's more permanent than they've been letting, not listen. i've been saying for some time as you guys know, inflation is worse quite a bit worse than what we're being told. it's not just that we're figuring this out as we go, but the fed has been dishonest so far about the inflation that we've seen. the rates that we've seen, and they're not becoming more honest as time goes on. in fact, what president is now saying about, it's all going to change to why the fed policy is not changing. the fed continues to print, they continue to buy large amounts of debt, even though they're supposed to be in the, in those programs. they're not really doing anything that's going to change the
process so far. so my question is, if things are going to change, if this is only temporary, what are the actual measurable steps that are being taken to in that? because the idea that it's simply going to in the, on its own, because it should seems ridiculous. but that's an interesting point because we've heard over and over and over again, and we've talked about it for after a year. now as inflation became an issue is that this is temporary, but we don't ever see any data from the fed that says, here's why it's temporary, we're just supposed to, as you said, trust j powers was to trust a bite. and so under what, why, why would they continue to say this? if it doesn't appear, that's the case. well, because it's to induce a couple things to induce, induce comb from the public, right? hey, don't worry, prices may be bad, which by the way, they wouldn't admit for almost 6 months for almost 6 months. we've been told it's all your imagination prices are actually that bad. you think there's inflation,
not really inflation that we find out of course. well, obviously there absolutely is inflation, so the response of that instead is, oh, it's in there may be inflation, but don't worry, the good news is it's very temporary. here's the problem. and then i think this is the primary problem of what we're dealing with. if you are dishonest for 6 months, that there is no inflation. why are we going to trust you for the next 6 months that this, this inflation is merely temporary? and again, let's go back to how real people have to deal with inflation, right? in the cost of real goods and real services that are on the right. because right now we're not even feeling the full effects of inflation. i give you an example. i was talking with a restaurant owner recently who said that his restaurant is not passing right now. that inflated cost on the customers, but in that restaurant themselves are paying much higher costs for the food that they're serving and for the items that they have. but they are eating that cost right now in order to get no pun intended, in order to get the public to come back into restaurants. the problem is very soon,
we're going to see that pat, that cost being passed on to the consumer, and then the consumer will feel it even more. and now the president biden also touted the highest economic growth rate in nearly 40 years, but that's when comparing it to last year when the economy was at a standstill, he's also pushing for more spending with his infrastructure bill. but should there be more concerned about putting more money into the economy after last year and what that might do to this inflationary pressure? well, i think there should be concern a lot of concern. what does it mean to keep pouring money into the economy? because again, some of us have been saying for some time, if you poor money into the economy, it is not going to fix the problem. we're having, in fact, pouring money into the economy is because of the problem, right? that is my belief and is the belief of many economists who are looking at this mini analyst who you could have had on the show today. other than me would have looked at it. and they probably would have said the same thing, right?
that the cause of inflation is the monetary solution, not, not the converse. the solution is not to put more money into the system. so if you have a problem and you're trying to deal with right, and your solution is making the problem worse and you doubled down on that solution . how do you fix the problem? how do you move forward? and i think that's what we're seeing. there is a severe disconnect here when the fed, when j pow, when president biden talks about these policies. they are telling us one thing, and there are so many folks who are looking at that saying that doesn't make sense because you're not explaining to us why this will fix the problem. yeah, it really doesn't seem to make sense at all. now we've got about 30 seconds left, but i want to go back to this claim from bite and that we should just continue to trust the fed. we shouldn't ask questions about the fact that they're not rolling back any of these pandemic policies. i mean, what's wrong with that, basically? and is it likely that we're going to see them rolling back or actually making any moves anytime soon? i don't think we're going to see them roll back because and i don't think this is
some great conspiratorial plan to wreck the economy. i think it's people who have a very narrow view of economics who believe there's only one way. and i think goes all the way to the days of george w bush in 2008. remember when he was going to save the economy and save the free market by the free market? yeah, the policy has changed to open a president after president after president. believe this is the way forward. i don't think it excellent points to consider here. been best friends, one thank you so much for your time. the china on tuesday rejected allegations by the united states and its allies that hackers linked to it. the government were behind
a cyber attack on microsoft exchange servers earlier this year, or any other malicious cyber activity. maybe the us gang up with its allies in launch and unwarranted accusation against the cybersecurity. this is made out of air and confused. right and wrong. it is clearly mir and suppression out of political mode. china will never accept the china always stand firmly again and combat any form of cyber attacks and still less we encourage us or condone any cyberg. and the group of nations which include australia, canada, new zealand, japan and nato allies claims the chinese government has turned a blind eye to a series of malicious ransomware and data theft attacks against public and private organizations. something president by reference monday, my understanding is that the chinese government, not unlike the russian government, is not doing this themselves, but are protecting those who are doing it and maybe even accommodating and being
able to do it. that may be the difference. and joining us now to discuss is morgan, right? he's a chief security advisor to set no one and former senior advisor to the us state department, anti terrorists, terrorism assistance program. morgan, always a pleasure to have you on your real expert in this field. now we heard the chinese rebuttal to these accusations, and since you are the expert, how can the u. s. government and its allies? be sure these hackers are tied to china as ministry of state security actually carried out these attacks. there's an interesting report just coming out. i was just reading it to coming out of the wall street journal. declassified information from 2011 shows the chinese were inside of our pipelines over a decade ago. so brett, there is a term of art in the intelligence community. it calls when they say that we have high confidence in something the same way when james call me said, came out said we have high competence that north korea was behind the sony attack.
at that point and what they've advised the president, i don't want to say it's a slam dunk, but at that point, in terms of the eyes of the intelligence community, they have what they consider irrefutable proof that china was behind this. so and biden's point about using these criminal gangs as proxies. it gives you a level of possible deniability. but, but it is, it is something that they're doing because they can legitimately say china is not doing the things, but they're enabling it. and by the way, you can indict all the bad actors you want. we know who they are. we've already indicted for more of them in china. chances of them being brought to a us court room is 0. now, as president biden understands that china government isn't necessarily carrying out these attacks themselves, but they're allowing it to happen. so when you see these as state sponsored acts, absolutely, just, you know, i don't have to pull the trigger. if i give you the gun and you pull the trigger, i'm still responsible for where that bullet goes. they're still responsible for these bits and bytes slide throughout cyberspace. because whether or not there's
a thing also called tasking inside the intelligence commuter know where to get a pass to somebody. i say, here's what i want you to do their tasking, these criminal organizations to carry out the activities that otherwise the ministry of state security or the people's liberation army would otherwise carry out their just giving themselves a layer of plausible deniability. but at the end of the day, it's stage sponsored in the, in the sense that it's their beginning, they're being given directions by the internal intelligence organizations and whatever they get out of that. now these groups get to keep the money. what the chinese want is they want the intelligence and the information that comes out of the hack itself brought back in for their own intelligence and national security purposes. and now morgan, what recourse can the government actually take? because you just mentioned it, what is it 0, right? 0 chance that these people are gonna be brought to justice here in the united states, the bad actors in china. you know, president biden also completed that with the russian situation as well. so is there any way beyond threats to actually handle this increase in cyber attack,
whether state spots or, or by just road hackers? you know, you can't sanction your way out of the way. there's nothing we can do to china. they hold too much that they've got too much economic power. the best way to stop this is we just saw jeff basis, find a space we saw richard branch and plan the space. well, everything i learned about cybersecurity joke, i said comes from l on moscow. you just simply said, why can't we reuse rocket? we've got to change this calculus from saying how do we detect and respond to how do we just stop these attacks from happening in the 1st place. if this were, and i had a chance to interview him to call pearl ross from the new york times on a webinar. she in her book, it's great thing. it's called, this is how they tell me the world is. she says there's a quote in there that says, this is like a scholar soccer match for this course. 652648. it's all off fence. no defense. we have to start playing defense. we have to start making it tougher to perpetrate these attacks. we can never stop them from attacking. but what we can do is make sure that these attacks fall short. they fall off at the shore and they do not
enter our shores. and that's the different mindset we have to have. it's been awful for too long. we've got to get back into plan, good, strong defense. now lastly, before we go, we've heard these claims from the us. now we're hearing that the chinese ministry of foreign affairs is throwing out an accusation of their own, saying that groups associated with the cia have carried out cyber attacks for the last 11 years. that seriously compromise china's national and economic security. we have about 30 seconds here, but i mean, is that just a tit for tat comment? or is there something more to it? i hope we are. you know, you never want a letter. you never want to take punch. it's you got to, you know, mike tyson used to say everybody has a plan till they get punched in the face. well, let's have a plan and i think part of the plan is the difference between us and the chinese. we don't indiscriminately launch trans more attacks. we don't attack civilian targets. a lot of these are national security targets. defense targets, things where there is a valid national security objective. well, yeah, so it's a c i behind so they'd better be, that's all i'm saying. cybersecurity expert,
mortgage, right. i think that last there says that a little bit of offense against often. thank you so much for your time now for a quick break. but when we come back at johnson and johnson is facing nearly 30000 lawsuits ever claimed that its products caused cancer. we'll discuss why they're looking to get the things from the course involved next. and as we go to break, here's a numbers out the clothes, shoes on drugs noted 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's got to be something that you could get elected. this time,
the fight against drugs took a check and told us that andrew was competing 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 get shot in the head and found in a river like that. something else had to be happening. i. ready ready couldn't crunch l. i class the ball often the said it will be the blue book truly you phone for the the because it's always more you to meet the he's going to contribute the usually so which and practice and what gone. yeah. cuz really new from
the moment that she's in the rain and somebody in luck on the none of my new middle child. and i look forward to talking to you all that technology should work for people. a robot must obey the orders given it by human beings. except when 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 i would like to take on various jobs with artificial intelligence, real summoning with a
robot must protect its own existence with exist. oh right now there are 2000000000 people who are overweight or obese. it's profitable to sell food that is fatty and sugary and faulty and not at the individual level. it's not, not individual will power. and if we go on believing that will never change as obesity epidemic, that industry has been influencing very deeply. the medical and scientific establishment, ah, what's driving the because it's corporate. mm . the
welcome back. johnson and johnson appears to be looking for a way to deal with the nearly $30000.00 pending lawsuits over claims that is baby powder and other top place products cause cancer. according to reports, the plan is to offload liabilities from the lawsuits into a newly created business that would then seek protection by filing for chapter 11, bankruptcy. so with this work and how would it impact the thousands of victims involved? joining us now to go further in depth on this is a host of america lawyer, americans lawyer himself mike, pop antonio. mike is great to have you on the show today. now our 1st question is, why would johnson and johnson be considering a plan like this? and how is it legal?
while it's a new way of doing business, i mean you, you take a board room of socio pass that have killed thousands of people. ok. literally killed thousands of people recklessly knowing 4 or 5 decades. that what they were, that what they were were doing would result in thousands of deaths. then you take a department of justice who has no courage to prosecute any body that's dressed up in a 3 piece suit in lives on wall street. and then you take a media who won't tell the story because the advertising money coming from johnson and johnson is so big. then you take regulators who have no courage whatsoever. who in fact, go to work with a company like johnson and johnson after they leave the f d. a. you take all of these moving parts and then you take a company, johnson and johnson, who is worth one half a trillion dollars, almost $500000000.00. and she's me, 1000000000 dollars,
1500000000000 dollars. and then you have a judge in new york who's been appointed is a judge ship or a judge in texas. he's been appointed to a judge ship because of politics. and it's a judge who's never done anything for consumers in their lives. all they've done is work for corporations. so you take all those moving parts and then you take a texas law that has been written to stop on can, on consumers, you would expect out of texas. this is where it started. it's called the texas to step. it's called divisive merger created in texas for, for, for thugs, for sociopathic thugs just like johnson and johnson, so they can kill people. never go to jail, never have. a any bad publicity about it in the end, they can keep their half a trillion dollars in the c o makes a lot of,
and it's business as usual. and then the next company says, hey, johnson and johnson got away with that. let's do it too. so the question, how can they do it? that's how they can do it. it's all those moving parts that allows a sociopathic leadership like johnson and johnson, to kill these people and then seek bankruptcy protection for it. mike, that's exactly right because it's something we've talked about on the show over and over again. how do they do it? because we've allowed them to do it because the laws have allowed them to do it and they got the money to get around them. so might, how would this plan to put a separate company through bankruptcy impact the actual lawsuits that are being filed? and more importantly, how is it affecting the claimants who are, who were the ones who are actually hurt during this? well listen, let me begin with the claimant's for half a century scientific testing. found that the as best this task that was used in, in this product had the ability to cause ovarian cancer. there is a horrible,
horrible death when you meet these clients that are end of life and you see the impact that it has on the daughter in the husband and the children. and you're watching your mother die of this death. and you know, that has been caused by johnson and johnson powder. why? because they're finding asbestos in the uterus they're finding as best. this is what caused the, the cancer itself in the, the, the problem we have here is we have become so accustomed to corporate america, conducting business like this, that today, they're teaching it in m b, a school watch what johnson and johnson does here. if they get away with it, and they very well might, because they're always going to find a corporate saw g judge who says, yeah, business as usual, business trumps the american consumer. so what they do, they come up with this,
this company. it's a nothing company. they create, there's nothing company they say in the company that you company are responsible for all of our liability. and we're going to give you a little bit of money. but it's not going to be enough to cover all of this liability. and you're going to claim bankruptcy and we're going to go our way after killing thousands of people without ever being prosecuted. and you know what everybody goes. busy home happy except the victims of johnson and johnson, baby powder, you know, a truly is a tragic system all around. is there any signs of changing a time and we're talking about 30000 victims just with this case, let alone we have all the victims of the opioid epidemic. this is going on in this country. i mean, is there any sign that johnson johnson is going to learn any lesson from any of this? i, as you, i can't talk about the settlement. as you know, our law firm is engaged in the negotiation of, of the entire hope. you would, you know, we brought the 1st o b o case up in ohio. we started this litigation so i can't talk about what's
going on there. but i can tell you as far as johnson and johnson as far as companies like johnson and johnson, will never see a change in the way they think until we throw a few of them in prison. until we start treating them like the people that they are, it's reckless disregard for human life and you know what? that's the same thing is manslaughter in any other place. and that's why companies like this our are actually prosecuted in other countries. we simply don't have the courage to do it. yeah, great inside, as always, my top and tony of america's lawyer. thank you so much for your time in analysis. thank you. and finally, 52 years to the day after the apollo 11 landed on the moon, tuesday was a red letter day for private space companies. as the world's richest man became the 2nd billionaire in less than a month. to take a trip to the edge of space. it's time for working 1st,
even like god feet 1st true of new sever led lights, his candle for command and in the store to one. the amazon founder, jeff bezos alone with his brother, mark 82 year old asian legend. while he funk an 18 year old student oliver damon have joined the exclusive club of less than $600.00 people. to go to space on board blueridge in new shepherd rocket. the for ashley took off from the company's launch pad in west texas for their journey, which start to finish took less than 11 minutes. the fully autonomy rocket booster shot the capsule carrying basis and crew to a max altitude of 65 miles to the edge of space head up to 3 times the speed of sound before detaching. at that point, those in the capsule experienced roughly 3 minutes of weightlessness as it began to fall toward earth. in an incredible feat of engineering, the reusable new shepherd rocket then descended, making
a perfect upright landing 2 miles north of the initial launch site. just minutes later, the capital with its crew landed in the west texas desert, supported by 3 parachutes, with a final boost from thrusters, which helped atlanta just one mile per hour. fellow space exploring billionaire richard branson who completed his own trip to the edge of space a week and a half before baze tweeted his congratulations saying impressive, very best to all the crew from me and all the team at virgin galactic hours after returning safely basis. talked about his experience now and how it felt home. i got the when exit patients were high and they were dramatically exceeded 0 g p. smith. and one of the biggest surprises because it felt so normal. it felt like almost like we were as humans evolved to be in that environment, which i know is impossible. all right, so we saw the trip that richard branson took last week. now we saw the trip that
jeff pay, those tick today. if you had a choice which one would you go? they're both pretty amazing, but i'm going to say i'd like to go on the blue origin. and the reason being is because it's more that traditional rocket, you know, you're getting up to 100 miles per hour before you even clear the tower. and then you're just going. but imagine when you're on that bridge, like i'm using my hands, i'm sorry. that virgin galactic and it disconnects that goes up. i mean, both of them are amazing feet though i have a quick question for you. rachel 11. you're from texas. do they give you one of those hats that jeff was wearing today? you know, they know, but i was really impressed that that, that they all had their cowboy has gone. they were embracing the west texas spirit and it truly was an incredible adventure. and that's it. for the time you can catch boom, but on demand and the portable tv app available on smartphones and tablets, or google play in 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 at portable tv will see you next.
me i the ah, the eastern half of the united states were going to have billions, if not trillions of periodical to caters interacting with tens of millions of human beings in their back yard. oh my god. obviously some of the cicadas do not have very high tolerance for alcohol because they are already passing out
are 6 minutes, a 400 i mean that's very satisfying. joe biden. invoke civil war parallels with greater frequency. this is ominous and dangerous. unfortunately, it would seem, this is how the major political parties and the media view, the state of our politics in a war, there are casualties and defeat in the culture. wars can one side bank questions the other when i was shot the wrong one, i'll just don't the rules. yes. to figure out the thing because the attitude and engagement equals the trail. when so
many find themselves well the part we choose to look for common ground a. ready ready launch crunch class to push me off the song with the blue book. truly, i just don't need someone from all the because it's always more you need to get done because usually so it shouldn't practice and gone. yeah. cuz we knew from the
moment that she's in the nice thing is not a monumental chopsticks on the look on the v all encompassing read shop, display phones, the french president and prime ministers, the world health organization chief and even a king. just some of those who potentially been sniffed on by is really developed by we're also ahead nobody suggesting unchecked information on the way. no, sir, is the kind of president biden say the us inflation rate in 13 years was foreseen and won't last long, but that's not bringing much comfort to american feeling the pension their pocket