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tv   Boom Bust  RT  August 3, 2021 11:30pm-12:01am EDT

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trail when so many find themselves will depart, we choose to look for common ground in the old days before breakfast, because the k was attached to the you. they could do it, other countries do, which is to take all their debts and dump it into this giant shadow banking system that covers the world's largest trading block. and you could kind of buy some time there because e, c, b is printing and buying and monetizing debt by the trillion, christine the garden, literally just buying trillions and trying to the garbage debt. but now post bracket, they don't have that way to wash the debts. into the greater he you laundromat and so that is going to for the 1st time post bracket. debts are going to start to cause a lot of pain the
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this is boom, but the one business show you can afford to mit, i'm branch aboard and i'm ratio of love and then washington coming up. the fcc has some new requirements for chinese companies. if they want to maintain their listings in the us, we'll take a look at how the risk of government interference will play a role moving forward. then europe grapples with the latest crisis as greece. battles is worse, heat wave in more than 30 years. we have a live report from the ground straight ahead, and the eviction moratorium in the united states has officially expired, putting millions at risk of losing their home. later on, we'll analyze the situation with our very own rick sanchez for a fact. so today, dive right in and we leave the program with another back and forth between china in
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the united states, this time over the listing of equities. as basia has continued its crackdown on share sold overseas on friday, the security exchange commission and now it require chinese companies looking to list on exchanges in the us to disclose the risk of government interference in their business. and further explain their legal structures. these firms must also reveal the chinese regulators, denied them permission to lift on us exchanges now with american markets sitting at or near record highs. chinese listings in the country have reached a record $12800000000.00 so far in 2021 according to data from our affinity data. now the increased scrutiny comes after ride sharing giant dd global wet public on the new york stock exchange at the end of june, shortly after beijing took issue with the company due to concerns over cyber security practices. and in the aftermath, dds. dr. more than 30 percent from its ip price on sunday,
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in response chinese securities regulators, said the to site need to uphold the spirit of mutual respect and strength and communications on regulating china related stocks. so what does this mean for the future of some of china's biggest companies listing in the us? well, to discuss, let's bring in john, call to the dean of the miami herbert business school, and octavio marines, the theo of optimist, l l. c. thank you both for being here. the quote i want to start with you in fcc chair gary gansler statement on the issue. he said he worries that average investors may not realize they hold stock in a shell company rather than a china based operating company. how are these companies actually listed in the us? and what exactly does all of this mean things sprint. so these are variable interest entities that are essentially listed as a diaz on the exchange. they are, as you have implied,
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not necessarily transparent to shareholders and especially individual shareholders in the us regarding the legal structures. and that's part of what miss against or is targeting here. this is a continuation of an effort to tighten up regulation and transparency with respect to chinese, 80 listed companies of which there are about $400.00 on the american exchanges, including about 10 stay don't enterprises. you'll recall that there was an effort made to tighten up on the auditing really regulations regarding disclosure by these companies. and now following the meltdown of the dd, global by p. o, which of course cost american investors and their advisors, a tremendous amount of money. as you indicated, there's now
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a backlash in the us to make sure that there's more transparent disclosure by these chinese entities. now tabio staying on the subject of trying to avoid losses in the future. i mean, when we look at that $12800000000.00 in chinese listing so far this year, and of course in d d taking losses and the regulatory scrutiny, is this all about the fcc trying to avoid some kind of market meltdown of chinese stocks? you'll fall to mystic in general, your interpretation of the actions. and i think if i look at that and say they're trying to make things worse if anything. so they're adding new dispos requirements into the chinese stocks in terms of and now trying to see companies going to require dispos, what actions might the chinese government take that might impact you in the future? and of course, there's no honest way to answer that question. and what that does is opens up these chinese companies, future losses for shareholders, more than anything else. i think the fcc is wrong and helping is making things
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worse. apps and adverse apps consciously. unconscious guy don't know. they seems we are in the phase that was come to about tension and i'm most between debating and washington. and this just seems like a manifestation of that. so i think he's doing the opposite. they're trying to make things worse. that could definitely be the case with all of those rising tensions between the us and china. now, dean quotes, let's look at the response from chinese regulators. here. it seems that they have been particularly tough on chinese tech companies listing abroad, along with all of the economic tensions with the u. s. do we really expect these 2 sides to work hand in hand to make this work? are you is optimistic? are you more pessimistic? the way our tabio is, well i'm, i'm a little bit more on the pessimistic side. i think china is very much focused on internal issues and that the measures that were taken against d. d global for instance, were essentially reprimanding that company for listing on the new york exchange.
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contrary to what beijing had austin to do. so i think beige ng is interested in sort of reining in these chinese companies are not particularly interested in the welfare of american investors. who buy their a diaz? i don't think china needs the capital investment of american investors as it used to do, perhaps 5 years ago. so very much of an internal focus on the china side. and let's face it. chinese stocks over all of gone down 22 percent this year while the s and p is going up 18 percent. you know, that's a manifestation of the increasing perception of political risk that's associated with holding chinese diaz in the u. s. and now octavio, there's another story, as well as we talk about this regulatory landscape. shares in
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a group of gaming related companies, including chinese, heavy weight, 10 cent, and net is punch tuesday after a state o newspaper criticize online gaming as quote, opium for the mind and called on further restrictions on the industry 10th. it was down 6 percent with netty losing a percent on shares listed in hong kong, overall tech on the index. last one and a half percent for the day. do you see investors or do investors see this as the next front for the tech crack down in china after what we've seen over the last several months. and they should have said that with apologies to call it marks, of course, that religion is the people or the message. so i guess we move all the way to video games. now the opium of the mind, which is progress of a sort, i suppose. no, i think i think from what was happening here is that the chinese government has always tried very hard to keep its pulse and maintain control of what it thought, what the strategic sectors in the economy and that in the past was things like banking a lot manufacturing sort of heavy manufacturing sort of mineral extracts and things
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like that. so they held on to steal foundries and think, believing that was the future really strategic sector, 2030 years on that doesn't look like those sectors of that strategic and other areas are sort of got away from them. and now the whole areas that the trying to catch up on. so i think the chinese communist party feels like they've lost control some very serious part of the come in trying to rain. and the factors they thought were important part is simply not that relevant anymore. and full happening sort of catch up as catch up on the strategic factors and bring them back under control. the quality of 32nd 40 make that last point there from octavio. well i think those i think are 12 years right. but i think in addition, the chinese government is very interested in social control and not letting video game activity get out of hand among young children and frankly, tense. and the other companies in this industry going to have to play ball with the
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chinese authorities to continue to operate. so there's a license to operate concept shina that involves working with the central government and respecting social policy as directed by beijing, right. of course, it should be noted that china obviously recently actually lifted restrictions on video games as a whole. in recent years, john clouds, jean of the my american business school and octavio moran, the ceo of optimus l a. c. thank you so much. greece and turkey are being hit with mouth of he, waves and wildfires which are crippling the nations right now. in fact, the prime minister of greece says the heat wave is the worst in 30 years. so joining us now to discuss this and how is happening, countries already struggling from europe. cobra lockdown is boom, best co host, ben swan who joins us from greece. now ben, give us an idea of how severe this heat wave is. what's it like there?
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yeah, it's pretty incredible guys. we're talking about in athens today, it's a 108 degrees fahrenheit, which is just a staggering number to consider. yeah. and really, this has been the case all across the breeze 20 degrees hotter than it normally would be. this time of year it's hard it's, it's been in 30 years. we're talking about in 1987 was the last time it was this hot in greece and 1500 people died that year because of heat related death. so this year, the numbers so far have not been, you know, to that point. but in terms of the actual heat, it's just incredible. as i mentioned, you know, 114 degrees last week in athens, today's 108. so it's, it is hot, and then in greece we understand that the power grid is at risk of failing due to the heat. tell us about that. yeah, absolutely. a 2 coal fired power plants that are offline weren't supposed to be used at all anymore. and you were supposed to be retired and the government has
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actually put those back online to be able to help with some of the, our grid issue. because there are so many people using air condition, as you can imagine in this area that it's actually having a huge effect. so the power grid certainly is at risk right now there are a lot of concerns about that. i will tell you that internet service you're probably noticing on your end, it's not that strong here right now. that's also, you know, because of so many people just not using power. so the, the power supply here is, is pretty limited right now. the good news is, is that the expectation is that this week is supposed to be the peak week, and after that it's supposed to start going down hopefully. so the investment one time now for a quick break, but when we come back the bite and administration lifts, the federal ban on evictions and calls for state and local government to take action. but what is fueling this crisis and where has all that money gone? will discuss and that's going to break. here are the numbers that because the
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ah, is your media a reflection of reality? the in a world transformed what will make you feel safer? type relation or community. ah, you're going the right way. where are you being somewhere which direction? what is truth? what is in a world corrupted, you need to defend the so join us in the depths or remain in the shallows. ah
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ah. we need to kind of off the bus to you through the same with that actually use them shape which is a little bit mediocre. put your budget that ah, what are the continues to tell you with a delicious give miss wilson caught up by the jews
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. look forward to talking to you all. that technology should work for people. a robot must obey the orders given it by human beings. accept where's the shorter is a 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 take on various jobs with artificial intelligence. we'll summoning the demon a robot must protect its own existence with the the federal ban on evictions officially expired over the weekend amend concerns. it could
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result in millions of americans being thrown out of their homes by the white house as it is now, putting the pressure on state and local governments to address what many fear could become the latest crisis. this is a president who has doubled triple enquire, drew bullying this and is not just and is responding by then saying if, if we don't have legal authority in someplace, then we need to do our wide administration and state and local. look at where we do have the authority to act and prevent evictions. the numbers are staggering. it's estimated that $11.00 mill in americans are behind on rent. that includes one in 5 renters with children. congress says it is done as part already pointing to the $46000000000.00 and rental assistance it approved between december and march. the only problem is it appears that only a small fraction of the aid has actually been spent almost $50000000000.00 was
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allocated $46000000000.00. less than 10 percent of that have been spent around $3000000000.00 is reported to me, but i'd say it would be 10 percent. why should the, the renters be punished for the fact that the system did not put money in their pockets to pay the rent to, to the landlords. but others are saying, what about the landlord who haven't been receiving rent from their tenants? and also haven't been able to sell their houses at a time when the market is historically high. as you look through that sort of supply chain of housing, if landlords are stuck with tenants that they can't force to uphold the contracts and keep their agreements right. even though those tenants have been getting all sorts of government aid in terms of enhanced unemployment benefits and so forth and,
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and for many, many months weren't spending any money. but you know, household savings rates have have actually skyrocketed. while some americans may have been able to save others struggled to survive. in fact, more than 7800000 americans descended into poverty and 2020 marking the single largest increase in us history. while a handful of democratic lawmakers were seen protesting at the capital, calling for the ban on evictions to be reinstated, many are asking where the rest of that $46000000000.00 when and why it wasn't used to help those who needed it most before. it was too late. joining us now to go further in depth on this is host of the news of rick sanchez, brick sanchez, himself. it's great to have you on the show today. now there seems to be 2 arguments here, one of which is that americans got just enough government aid to get by which means that they were struggling, they're still struggling. the other is that they got so much a that they were able to save it up and they weren't paying rent because they
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didn't have to you. is it possible for those both to be true at the same time? can i present a 3rd argument? absolutely. that was so horribly mismanaged that they didn't either get too much or not enough. they got money that was sitting out there in the atmosphere that they could sometimes touch or that they had access to. but they didn't have to tell anybody that they had access to it. so if you get, if i'm giving you, if i'm your landlord and you are my tenant and you're getting a check from the government, i don't know whether you're getting that check from the government. so you didn't pay your rent. i'm just assuming she couldn't pay her rent when an actuality you're pocketing the money that's coming in from the government. it's that kind of situation that this breathes where you have no sense, right? of a concrete understanding of what the forces are in the marketplace. and that's what creates dysfunction, and that's what we have. we have dysfunction right now in the housing market. nobody knows whether it's up or down what the prices are or where the prices are
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going to be going. because the government stepped in and not that they didn't do. i'm not saying they shouldn't have done this. i think you should help poor people when they're in need for at least in the middle of the coven situation. but it was just horribly mismanaged. well, and rec, here's the thing, i mean, we obviously know that, you know, government at all times isn't work the way that it's intended in that situation. but the white house dot contending that this should all just be done on the local level. because obviously here in washington, they can't get anything done. now that would seem to make sense. they would understand the plate of the people in their states and in their areas more, say the federal government does. but doesn't that risk in a polarized political climate that we live in today? doesn't that risk being left behind? oh, no, i know exactly where you're going. and other words, if you try and do it that way, then republican states are going to be all macho and stuff and say, no, we're not going to give any handouts to anybody. the democratic states are, by that i mean, where they have legislatures that are democratic or governors,
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other democratic, they're just going to get the farther away because, you know, they want to be in a situation where they get more votes. so now you're absolutely right. the problem is if you try and have a coordination between the feds and the states, it goes haywire as we've seen, just happen because they don't cooperate with themselves. if you try and let the feds do it by themselves, it doesn't work. and if you give it to the states, they kind of go in their own direction and then you have some guy in new mexico playing by different rules and the guy in new york. so it is difficult to do that way. but in the end, guys, you gotta understand something, and i can speak to this because i'm a cuban, which means i understand communism very well. and if i took you to cuba now and introduce you to some of my friends down there, they would tell you that whenever the governor, the government gives you something, we're going to find every way possible to cheat steel. take it pocket and not declare it. and that's kind of what happened with the coban situation. people will love take advantage of these types of situation. and i want to follow up on that
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initial question because our producers just telling us within the last several moments, there's been breaking news that the bite and administration is actually going to issue a targeted moratorium on eviction. and actually targeting counties that have high levels of cobit transmission currently. i know obviously would that's about the information that we have at this moment. but what do you think about that as part of this? i mean, at 1st glance, as i'm listening to it, i think it could make sense. it's coordinated somehow at some, at some base level, if you and i hate to say this, but you're going to have to involve the private sector somehow. you're going to have to involve either a mortgage, new york city, or these guys too often put the money in their own pocket. i know don't send cards . but somehow you have to have somebody who knows how to do this and is accountable for it. and the people who are going to receive this help have to somehow bend, declare a line that they received it because the people who are also getting screwed here, by the way, or the landlords. nobody's talking about them because we think they're all rich.
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they're not, there's some guy who has, you know, another apartment aside from the one that he lives on. he's renting it out to somebody. he was living off of that and now he can't pay his bills. so this is too small to us. it is now speaking of the lack of oversight him in congress as they've dealt with this because they've passed $46000000000.00 and rental assistance. and why don't you think we're seeing more of an emphasis on the fact that only a fraction of that has been spent, and we don't seem to know where the money is. it's the most laughable. bring you and i were talking earlier. i was 1000000. yeah, california got 1w1w over 1000000000 that was allocated, what are they but the biggest economy in the entire world and of all that money, they got 1000000. why? because somehow in that's what i was just mentioning by the way. thank you for making my point. i know you were trying to get me there and instead you made my point, rachel. and the point is this, when you allow a government to try and coordinate with other parts of the government,
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usually what you get is chaos. somehow in an instant like this, you probably need people who are not so bureaucratic and who probably can find a way to manage the situation so that everyone gets at least something close to an equal share grand inside. as always, rick sanchez, thank you so much for joining us today. thank you. appreciate it guys. and finally boeing starlight, our spacecraft. next launch attempt will have to wait for the time being as tuesdays flight with scrubs for the 2nd time in less than a week due to an unexpected issue with the vessel. our team trinity chavez has the story. today the launch of the unmanned capsule star line or postponed once again now. so reporting an unexpected valve issue cause the hold up this making the 2nd delay in less than a week originally scheduled to launch last friday. it was postponed following a mishap at the international space station when a new laboratory module from russia called nuka,
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arrived at the space station. and when it dogged it briefly till to the space station 45 degrees. when the modules thrusters unexpectedly fired, and other things were back to normal at the spring station, nasa and boeing were supposed to again try to prove that they can safely take a crew to the i ss. we want this wind to go perfectly all the way to the international space station to dock autonomously. and then to return home with a landing on the desert in the western us. back in december, 2019 the star line are blocked that into space. but ended up in the wrong orbit and could not reach the space station. nasa officials say they identified 80 corrective actions that had to be done before the star line or capital launched. again. we want to go perfectly before we put human astronauts on the 1st actual flight with humans. that is the reason we're doing the 2nd orbital flight test.
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no, no humans are expected to be on the test flights, but it will take measurements with a test mannequin named rosie the rocketeer expert say this year series of phase launches will open the door for future space travel. this comes after billionaires richard branson and jeff bezos both blasted off in their private spacecraft last month. but investors and customers are keeping a close eye on boeing, as it continues to grapple with a series of controversies and scandals involving its $737.00 max aircraft reporting for boone bus. trinity chavez. * r t excellent reporting as always for chavez and very interesting. the last point she made was it right on boeing just cannot get a when, when it comes to anything in the aerospace industry, even though they're the biggest in the industry at a different agency that when, when they assign these contracts with nasa in kind of a similar way that's basically, i believe they were happen around the same time. it's how many times space extra
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was able to, you know, do emissions to the i s, as they were able to work that out there to get that and the starlight or project just for lack of a better term and lack of upon it can't get off the ground, maybe somebody with basics, i mean they also beat out blue origin and even just phases. couldn't get it back. so maybe it's just basic. maybe you got something there. you are definitely right. and that's it. for this time, you can catch boom bus on demand on the portable tv available on smartphones and tablets, through google play on 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 will see you next time me
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when i would show the wrong one. all right, i just don't the rules. yes. to fill out the thing because the attitude and engagement equals the trail. when so many find themselves will depart, we choose to look for common ground. in the old days before brag said, because the u. k was attached to you. they could do it. other countries do, which is to take all their debts and dump it into this giant shadow banking system that covers the world's largest trading block. and you could kind of buy some time there because the tv is printing and buying and monetizing debt by the trillion. christine the garden, literally just buying trillions and trying to garbage debt, but now post brackets, they don't have that way to wash the debts into the greater you laundromat. and so
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that is going to for the 1st time post bracket. debts are going to start to cause a lot of pain the british and american governments have often been accused of destroying lives in their own interest. what you see in this nice techniques is the state devising message to end to essentially destroy the personality of an individual lifetime. means this is how one doctors, theories were allegedly used in psychological warfare against prisoners deemed a danger to the state. that was the foundation for the method of psychological interrogation, psychological torture, disseminated within the us intelligence community, and worldwide among allies for the next 30 years, to the victim say they still live with the consequences today
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the, the, the, the, the, you now except cobra. 1900 certificates from san marino whose population is almost fully vaccinated with splitting the vaccine. that same russian job that is still awaiting european approval for washington says it is concerned about reports of an oil tanker being hijacked off the coast of us. while some british media are already pointing the finger at iran, that comes days after a deadly drone attack on another tanker in the region. the un torture roper tour raises alarm as a german officer hurdles, a woman to the ground triggering an urgent police pro more police officers on.

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