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tv   Boom Bust  RT  August 10, 2021 11:30pm-12:01am EDT

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nigeria just throwing up over the water. i mean sure, you know if you could get some credits of us, we are hoping to be here. they filter when read or content, the delta games only take the very best of the best buy ah, the bus one business, you know, you can't afford to miss branch of the board and i'm ready to love. and then washington coming after us seeing a record number, a job opening,
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and some employers are playing a so called a worker shortage. we'll discuss how the dynamic taking a toll on small businesses at a time when they are working. the bounce back, japanese investment firms officer is reeling back as president, china as the regulatory trash. i'm continue. we'll take a look at the chat companies that are being impacted and just how far beijing could take a new rule. then i'd say in the crypto currency reporting provision in the one trillion dollar infrastructure pack, it has been for walk. we'll take a look at how it's affecting crypto prices. we have a pack today to dive right and we leave the program today with more fall out from china's cracked on on. tech companies as soft thing now says it will pauses investing in china as it waits for regulatory action against the countries tech firms to play out. the japanese company has a loss more than 35 percent says it's jock peaked in march, following a $69.00 per and gain back in 2020. while south bank has relied on it's
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$100000000000.00 vision fund, which includes investments and companies such as chinese ride share from db global and the over for truck start up full trucks alliance is now rethinking those ties amid beijing's cracked out. so joining us now to analyze the latest is boom and investigative journalist benz want. now ben, can you start by breaking down what the concerns are 1st off bank here? well, i think you describe them pretty well. they're off the top with a 36 percent decline since may is pretty incredible. basically what this really comes down to guys is saw, the bank is struggling because of the fact that china has instituted these new rules for tech companies. many analysts look at this and say that china is essentially turning inward, becoming more nationalist than the weight and handling it's tech companies. and so that's not necessarily good for big investors who want to turn a big profit very quickly. it has resulted in some, some really significant losses for soft think something's not happy about that.
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they're going to stick around, but we're talking about obviously d, d, as you mentioned, is a big one where they're, they're losing money on that they'll, they'll continue to write it out, i think. but it is a very serious situation for investors who are looking specifically at a, at a market such as china and what it means to be involved in the tech space there. now. but there's also been a serious amount of difficulty when it comes to one of the all time largest investments in that alibaba. what has happened there? yeah, alibaba is a very big one. now, keep in mind, something has this thing called the vision 5, right? is a $100000000000.00 funds, and essentially they're taking that fund and they're using it to find, you know, start ups and tech companies, for instance, like dd, right? the one of the largest ride sharing companies in all of china. and so the vision fund that $100000000.00 elevation fund does not include the most successful investment of all time for soft bank, which is alibaba. and obviously their investment into alibaba has been extremely
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significant. and it's really been struggling. and there's a, there's a number of reasons for that. obviously, alibaba is struggling because of the fact that this check crackdown has been taking place in the 1st place. but also the fact that alibaba is one of the few companies that has actually been hit with major find by the chinese government over $2000000000.00 in fines that have been letting against alibaba. because of the fact that the chinese government essentially says alibaba is taking part in practices that are anti competitive kind of similar to the way that we would say to me that it says that amazon takes part in practices that are anti competitive. the difference is the u. s. government doesn't do much. the chinese government is leveling some very significant fights and laska and investigative journalist funds on thank you so much and it's a 4 legged robot that has law enforcement officials excited, but privacy advocates, not so much. police say the robot dog, dog spot is just another tool, meant to keep emergency responders safe while some see it as invasive. and
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dehumanizing our team for fair and project has the story. sees spot run, see spot, sit, see spot, pick it up, the spot open the door. the spot jumped and see spot, check your temperature for cove, it person will ask for food. the last for water and the last for masters police in honolulu, hawaii are using this 4 legged friend to check the body temperature of homeless people looking for temporary housing. these are all things that we had to do face to face with someone and with a disability through the robot. the honolulu police spent around a $150000.00 to buy the machine from boston dynamics to use it in hawaii 10 cities. but honolulu p d facing backlash since it was a $150000.00 taken from cobit 19 relief money. the department defending its actions saying it's
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a humanitarian efforts to stop the spread of the virus. the spot also interviews, those who have tested positive. we have not had in the 1st test. scary, that's, that's worrisome. i mean, it's more about the positive interaction. it's not in no way. is it intimidating and it's not involuntary. so we don't walk around and arbitrarily scan. one of the big challenges that we've seen is accurately describing state of the technology to people who never had a personal experience with it. last year, the new york police department released their robotic dogs, painted blue and renamed to dizzy dogs. new yorkers didn't take notice until they started spotting them in the wild, making it a social media sensation that sparked public outcry. so to avoid more backlash, the n y p d sent it back to its maker, boston dynamics. police departments have been using on inspection robots for decades to remotely control. busy a robot into a hazardous scenario. in fact,
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it to a person doesn't have to enter that space. boston dynamics says it's learned from the new york fi ask and says their new goal. do a better job of explaining to the public and its customers. what spot can and cannot do? because the walking robot is most so futuristic. most people are applying notion from vision to whether robot you think the slippery slope of these developments is really quite important to think about human watchdogs, of the new robotic dogs. se warnings need to be considered along with the future. public relations challenges that could come along with it for police departments. robots have a very significant feature that lots of other a i devices don't have, namely they can be photographed or may didio saw. so that for the public image of the police makes it gigantic difference,
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i think. but the dutch national police who have roughly 500 spot robots now and use in the community say well, it is well behaved. it's not so smart after all because it's mostly controlled by humans. it's remotely controlled if you don't to go. busy to the left it will go to the left, you should stop it will stop. so it's just like like a gun or a chair or any kind of tool. the dutch national police reporting their spot dogs have been sent into the side of a deadly drug lab. explosion monitors construction sites, mines and factories. and it's even been used by utility companies to inspect high voltage though, keeping police out of harm's way by 1st sending in the dogs. and i said back to the crypto industry, the senate has moved to block proposed changes to the new crypto reporting rules found any one trillion dollar infrastructure package. now if you're wondering why
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crypto is included in that bill, while congress was looking for funding and they believe the new tax reporting rules could score them around $28.00 bill in dollars. a bipartisan group of senators proposed an amendment to the bill aimed at addressing some of the main concerns. members of the crypto industry had with the original language. one of them was that it could force miners and software developers to report data to the i r s that they don't even have access to. but in a bizarre turn of events triggered because the bill isn't it's final stages. the proposed changes to the rules for crypto holders was combined with an amendment from a republican senator who wanted an additional $50000000000.00 and military construction funds and both were blocked by the senate. but even with this back top crypto currencies have been surging this week with bitcoin coming close to $50000.00 for the 1st time since may. so joining us out to discuss the latest his name as long chief market analysts for ava trade name. it's great to have you on the show today
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. now we've seen that members of the crypto industry have voice and number of concerns about the reporting rules in this bill being too broad. but that doesn't seem to be having a major impact on crypto currency prices, right? now, so what's behind this rally that we're seeing this week? sure, thank you for having me. i think just a very brief comment on the taxes and the regulations and everything. i think we see that as a very positive aspect, because the more clarity that we will have in terms of regulation, the batch of the space is going to become now with respect to taxes. i think that will be, we all know that was going on in terms of the governments, they are left with a massive that they need to feel as big as babbage but left because of it. so now there's no better off expenses. and then really thought, actually those,
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those investors who have made gigantic gain gains by buying by trading questions. now what has been behind the robbie? well, very much the main thing is that investors are looking at the fun flow. if you look at the recent data, that's how you buy the usual investors by the a you are talking about. speculate everyone pretty much according to the report is net long on bait quite because people believe that this is the right time to buy them bargain. why bit corny is trading, where it is trading now. and i see the pricing here. bitcoin is hitting 3 month ties, but $50000.00 is seen as the next level of resistance. are we seeing enough movement right now to keep it coin around that $50000.00 market and where does it go from there? bend. that's an excellent question that i don't think the 50000 is really going to
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be in a resistance. i think the major thing that we are very much time high, the preview the lease in the whole time and from there on the subject really begin to 100000. but in the mean time, this is very much of a consolidation or a gradual moved to the applied. and that is very much likely to see in terms of price. now one of the seen when it comes to bit coin is that it's often targeted as an inflation had by the crypto industry. but of course, one of the biggest criticisms of it is the way that we've seen the price fluctuate along with the stock market. how do you see that argument and do you think that it is in one of those places where it could become a true inflation hedge moving forward? i think it was still going to take time, but the big coin to really become a true for inflation. but there is where i have it and because the amount of dollars spent it since corporate on the house of the master rally has happened in
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terms of the current process. now if you compare the same argument, what happened in quote 5 possible to deal with the went up and now the down because i think right now last, if you do have to police that it is a big point which is the korean patient that anything else and now we've also talked about a films london hard london, hard for that is to say, which gives users an automated system to streamline transactions. but now there's even some talk about the changes. could put a theory on pass to becoming bigger than bitcoin. do you believe that in any way it says that like a big corner to religion, it is a store. you see, right? that's going to maintain it's that with respect to theory and especially when the issues are resolved. and if we can continue to address those particular and
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then i think i see him matter from on easy momentum. that would be the easiest part that $5000.00 and then continue with 810000 mark. and if you look at it from the office, if you look at the haitian w, harness what you do. or even if you see that they are very much they didn't like this particular find a lot because it is very attractive in terms of your sort of more advice. you know, the last thing i wanna mention here is kind of an interesting one. we've heard from amc entertainment, they're saying that they plan to accept bitcoin as payment online by the end of the year. now of course, given that movie theaters are already struggling to get customers back, is this likely to be sort of the next frontier in of ways rather that crypto can play a role in entertainment? i think when i read that headline, i was completely taken,
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but it really surprised me because how i keep going to use something which is as likely as of today out. and then with all the issues biting in time. if you are talking about that. okay. but i think people still have to look much, much deeper. but overall, i think more companies are accepting big point to me if i write positive just that shows that more docs ability. but bitcoin isn't really something where you can really go buying your ticket. although i think i think the same, the positive news for the higher industry that we have not cinema chain by thing in the knows that who retail or who the audience based, who the investors are and they be value retail and that is their name as well.
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i'm of ava trade. thank you so much for your time in analysis. thank you and time now for a quick break, but when we come back, the u. s. is seeing a record number of job openings in some employers are blaming a so called worker shortage. we'll discuss how the dynamic is taking a toll and small businesses at a time when they are working to bounce back. and it's a good break here, the number that the quote, the ah ah, join me every 1st on the alex simon show. and i'll be speaking to guess in the world, the politics sport, business. i'm show business. i'll see you then me
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the self governance as war as further and further away from the day to day reality of people on planet earth in particular, america, with its claims to have a government bind for the people. but if the fed is now completely controlled by wall street banks and the said it's not completely controlled by the m f which is a super national organization that serve the globalist. the recall then the idea of self sovereignty in america takes another huge quantum leap of some version the other stuff. and then you need to talk to someone like you can be fine. but even when i'm
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in a position where you may need questions on it for me, what i want to do about what i was looking for the day join me, but it was easy. i got to know how to choose. you can put up with me going to be as long food. i want to tell you the other hand, what you need then is that quote that we should the they're welcome back for our next story. we want to take
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a look at the ongoing workers shortage in the united states. so just how bad is it considered this on friday, the labor department reported there were roughly $8700000.00 americans actively looking for jobs while job placement website. indeed estimates. there are 9800000 opening. that's a difference of more than a 1000000 if you're doing the math here. and the weight of the shortage is certainly falling on small businesses. as a recent survey from the national federation of independent business show, 27 percent of small companies are looking to create new jobs in the next 3 months. that gap is going to grow with optimism falling in small businesses and as it becomes harder to hire qualified employ, a recent survey for momentum and cnbc found 41 percent of small business owners are seeing a rise in wages to get those employees in the door on top of all of this, the same survey found roughly 70 percent of respondents say supply chain disruptions are also increasing the cost of those supplies, which along with inflation could also be seen as the follow up from the shortage of
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employees nationwide. clearly these compounding problems or causing issues with the small businesses. now, there is no definitive reason for the workers shortage. some attributed to increased stimulus measures and extended unemployment benefits or years of low wages, while others seat, the transition in the workforce due to the pandemic and do shift to work from home . so let's try to get to the bottom of this with our friend, john qualities. the dean of the miami, herbert business school. the quotes are always a pleasure to have you on. what is your opinion? what are you seeing is the reason for the so called workers shortage. the nation is based over the last several months. thanks very much, brent. well, i think, to some extent, it was a result of over reach in terms of companies during the pandemic, perhaps laying off for further lowing or firing more workers them in the end they needed to. and then secondly, as we see the spring backend demand has been so strong from the consumers on
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the purchases of goods and services and therefore with respect to labor as well. the demand spring back has been so strong and so quick that companies have been scrambling to actually find the workers that they need to keep up with the eager consumer demand. and that's especially true and service sectors where of course there's been an acute shortage. a lot of people lost their jobs in hospitality and retail, and those jobs are necessary. those workers are necessarily around anymore to refill those old positions. so across the economy, small business is always the west head, of course. but across the economy, we're seeing this mismatch between the workers who are available and the geographies in which they needed and the industries and the skill sets which needed
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those. well. now i know as the u. s. recovers we've talked on and on and on about inflation, but as we see wages and prices increase for small businesses, specifically, is this going to just make this temporary inflation even worse? what say you? well, i've always been in the camp questions whether or not the inflation is going to be temporary because frankly, once you raise prices to consumers will raise hourly wage rates to work. as it's very difficult to roll those back. the expectations are set and they feed into the overall inflation result. and i think a lot of the pressures that we're seeing are not going to be temporary. they're going to be built into and should be built into inflation expectations for the longer term. now when it comes to these trends that we're seeing here in the united
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states, are we seeing those and other countries as well? and if not, why is this a uniquely american thing? while consumption, of course, is a very big part of the overall us economy. it's well over 60 percent of the g d p that's accounted for by consumption. so when the consumer in the us house, the confidence to spring back quickly and aided, of course, by the supplemental unemployment benefits that continue through september, at least in half of the states they continuing through september. the end result of that is that there is going to be a mismatch in the us. now in other economies, which haven't necessarily supported their work forces, where the similar aid and help that fuel can continuation of consumption.
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and those economies also not necessarily as resilient as the us economy. we're seeing perhaps less of this effect. but in many western european countries, we also see a structural mismatch between the jobs that are on offer and the skill sets of the people who are out of work and looking for employment. and now, is this something that will eventually go away with workers returning to the labor force? as you mentioned, when, say the stimulus measures they extended unemployment benefits go away, or has that pandemic force a change in the way the economy works? the same way we've seen over decades as we move from a resource collection economy to say, a manufacturing economy, to services, economy and so on. while 1st, i think we can say that to the extent that hospitality and retail survive a pandemic and, and doubtless they will, there is
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a face to face interaction component there that requires folks to be employed on the front line. those wages for those workers are definitely going to increase. so that's point one. point 2 is that the appetite for remote work which was previously, i think, somewhat of a, a mish element of the workforce but has now become mainstream. the appetite for remote work, especially among single parents, with children who may not be able to get to school. even this fall. you know that appetite for remote work will sustain itself, but it will be professional people who will be able to work remotely, rather than lower wage people or manual labor that has to be
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present physically on a work site or in a restaurant. and the quotes i have 15 seconds for this, but how much does the fact that wages have been so low over the years? play into this? is that an aspect in your opinion? i think it is. i think that broadly and the and the economy that there's a sentiment that the minimum wage has been kept too low for too long. and the market forces are now making it a reality that that wage cannot be sustained any further. john quality of the university of miami, her business school. thank you so much for breaking this down for today. my pleasure. thank you brian. that bit for the time you get boom. but on demand in the portable tv app available on smartphones and tablets, people will play in the apple app store by searching portable tv. portable tv can also be downloaded on samsung, smart tv, or roku devices, or simply check it out at portable dot tv will see you next time me.
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i the the british and american governments have often been accused of destroying lives in their own interest. while you see in this, these techniques is the state devising, messes, to essentially destroy personality of an individual lifetime. means this is how one doctors, theories were allegedly used in psychological warfare against prisoners deemed the 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. and how the victim say they still
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live with the consequences. today the, i think is part of mental health revolution. we increasingly freeze political claims, psychological language and mental health became more common. so if you disagree with something i said on this program, you know, just say i disagree with you. i think you're wrong because of the following problems in your adventure logic. you say your micro grass mate, you say you triggered me. you said you hard, me again, some psychological wait, your news, psychological terms. and i've got an enormous problem for politics because it's almost impossible to have a discourse on that terrain. the
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you know, we go to a 6 day marathon of creativity, multi cultural festival, and the biggest variety is the competition for a few days. became a russian cultural capital. 28 categories. ahh. from filing a piano to the artist, parenting and data protection, night years just throwing up over the water limits. georgia. you know, if you could give them credit for them to be here. they filter when reading or content the delta games only take the very best of the best buy.
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choose me a big announcement coming out of new york where governor andrew cuomo now says he is quitting amid allegations of sexual harassment, thereby falling victim the very me to cause he himself claims to support the blow to that cause. the head of a charity that supports the victim to the sexual harassment also quit bowing to pressure over her ties to andrew com. 60 years since the us used to agent orange and vietnam and still no apology, didn't to me, some people american soldiers and their children are still suffering in the serious health issues caused by their. beside a newly obtained to pentagon, the documents shed light on how the u. s. department of defense pressure movie producers to portray the american military and
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