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tv   Boom Bust  RT  July 21, 2021 8:30am-9:01am EDT

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the, the the, the room bus going business, you can't afford to miss. i'm rachel blevins, and i'm branch of bore in washington coming up the united states was continuing to grapple with inflation as the bride and administration has labeled the phenomenon emperor straight ahead. we'll take a look at the state of the u. s. economy, and we take you to asia where china has pushed back against the u. s. over in microsoft pac delegation. we take an in depth look at the claim and the recent increase in the cyber attack. johnson and johnson could have a plan to deal with nearly 30000 lawsuit they're facing over claims their public high cancer will discuss what it means for their victim. we have a tax share,
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today's die right in inflation will only be temporary and the federal reserve should have the freedom to take what ever actions bills are necessary. that's the latest message from president, bite it as he touted 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 unchecked inflation over the long term, that would pose a real challenge to our economy. so our confidence that is what we're seeing today . we're going to marine vigilant about any response that is needed. joining us now
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to discuss it, boom, best co host, an investigative journalist, been swan now been by the 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 the latter 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 tim permanent them, 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 didn't is now saying about, it's all going to change to why the fed policy is not changing. the fed continues
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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. we've talked about it for, for after a year. now as a place, it 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 opposed to. as you said, trust j powers was to trust a bite and so on 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 of things to induce, induce comb from a public, right? hey, don't worry, prices may be bad,
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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. oh, you think there's inflation, not really inflation then we find out of course, well obviously there absolutely is inflation. so the response to 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's no inflation, why are we going to trust you for the next 6 months that this to 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 restaurants 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
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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, present bite and also to 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.
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many analysts 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 year when the fed, when j pow in 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 biden, 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,
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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 angel wrecked the economy. i think it's people who have a very narrow view of economics who believe there's only one way and goes all the way back 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 new one. the president is after president after president. believe this is the way forward. i don't think it excellent points to consider here. been best friends want. thank you so much for your time. the
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china on tuesday rejected allegations by the united states and its allies that hackers linked to its government were behind a cyber attack on microsoft exchange servers. earlier this year or any other malicious cyber activity may well the us gang up with its allies in launch and unwarranted accusation against the cybersecurity. this is made out of air and confused look are right and wrong. it is yearly smear and suppression out of political mode. china will never except the china always stand firmly again and combat any form of cyber attacks. still less, we encourage our supporters 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 organization. something president by reference monday,
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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. and joining us now to discuss his morgan, right, he's a chief security advisor to sent no one and former senior advisor to the us state department, anti terrorist 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 a 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 brent, there is a term of art in the intelligence community. it calls when they say that we have
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high confidence in something the same way when james called me said, came out said we have high confidence that north korea was behind the sony attack. at that point in 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 and 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,
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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, which i give a pass to somebody. i said, 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. they're 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
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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 sponsored or by just road hackers? you know, you can't sanction your way out of the say, well, 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. so richard branson plan to space. well, everything i learned about cybersecurity. i joke, i said comes from ilan musto. 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? 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
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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 inter are 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 play and 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 and she got to, you know, mike tyson used to say everybody has a plan to 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 rance more attacks, we don't attack civilian targets. a lot of these are national security targets.
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defense targets, things where there is a valid national security objective. well, yeah, so as a see i behind some of this. they'd better be. that's all i'm saying. cybersecurity expert market, right. i think that last year says that a little bit of offense against off and thank you so much for your time now for a quick break. when we come back at johnson and johnson is facing nearly $30000.00 law 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 one?
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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 andrew was competent. sean 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 rather driven by a dreamer shaped by the me. ah me, i think we dare to ask
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me ah. ready ready yes, i can july class enough person. i knew often the saw with the global blue book truly i don't want the the because it's always more you need to. he's going to repeat usually. so which and practice and what gone. yeah. because really new go from the moment that she is
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not going to not a monumental charts that exam on 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 would 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, america's lawyer himself mike, pop and tony. you, mike, it's great to have you on the show today. now our 1st question is,
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why would johnson and johnson be considering a plan like this? and how is it legal? well, it's a new way of doing business. i mean you, you take a board room of sociopaths 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 death. 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 these moving parts, and then you take a company,
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johnson and johnson, who is worth one half a trillion dollars, almost $500000000.00. and she's me, $1000000000.00 worth $500000000000.00. and then you have a judge in new york who has 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 worked for corporations show you take all those moving parts and then you take a texas law that has been written to stop on come on consumers. you would expect to add a 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,
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they can keep their half a trillion dollars in the c o makes a lot of money and its 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. and 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,
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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,
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business trumps the american consumer. so what they do, they come up with this, this company. it's a nothing company. they created is 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 may be founder. 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 that's been 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,
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you know, we brought the, 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 are, 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
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a trip to the edge of space. it's time for your 1st human life. god feed, a 1st crew of new supper. let's light this candle 5 for come in and in the store to one the amazon founder jeff bay. those along 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 and 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 detaches. at that point, those in the capsule experienced roughly 3 minutes of weightlessness as it began to
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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 parachute with a final booze from thrusters, which helped land at 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 bay's tweeted. congratulation thing. 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 on how it felt home. i got the what exit patients were high and they were dramatically exceeded 0 g p. s may have been 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,
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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. when that vertical active 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 don't, but i was really impressed 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 in the portable tv app available on smartphones and tablets through google play in the apple app store by searching portable tv, portable tv can also be downloaded on samsung, smart tv,
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and roku devices, or simply check it out at portable tv. well, see you next me . ah, ah, i 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 ways and the other when i was shot, the wrong one, i'll just don't the rules. yes. to see out
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to come after an engagement equal the trail. when so many find themselves will depart, we choose to look for common ground. 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 back yard. 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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are 6 minutes to 400. i mean, that's very satisfying. and i look forward to talking to you all that technology should work for people. a robot must obey the orders given by human beings, except when the shorter the conflict with the 1st law show your identification. we should be very careful about artificial intelligence. at the point obviously is too great truck rather than fear i would take on various jobs with artificial intelligence, we have so many with demon a robot must protect its own existence with
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mat guys or financial survival guide. liquid assets are those that you can convert into cash quite easily. but keep in mind, no, i mean to inflation better watch guys reported the worst flooding in china in a 1000 years. it's called death. swipe transport, infrastructure, bridge, dams, and spunk to huge blasted. and i'll you mini implant and the situation is said to be deteriorated, encompassing reach of spy phones, french president of the con, order the series of investigations up to report, to merge. he and his senior team, a potentially snoops on eyes, rarely developed spyware. also to come this out nobody suggestion is unchecked to inflation on the way no serious economy as it abide and says that the highest.

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