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tv   Boom Bust  RT  August 12, 2021 8:30pm-9:01pm EDT

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glad to have you, it's ah, me make notes certainly no borders and the blind nationalities as emerge. we don't have authority, we don't, the whole world needs to take action and be ready. not until people judge crisis, we can do better, we should be better. everyone is contributing each in their own way, but we also know that this crisis will not go on forever. the challenge is paid for the response has been massive. so many good people are helping us. it makes us feel very proud that we need together
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in so what we've got to do is identify the threats that we have. it's crazy plantation, let it be an arms race is on often very dramatic development. only mostly i'm going to resist. i don't see how that strategy will be successful, very political time. time to sit down and talk the this is the one business show you can't afford to mit branch bore, and i'm rachel blevins in washington coming up trying to track down on the tech industry continued. well, this guy, how long it will last and what it could mean for the companies that span excuse the
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anti competitive practices. plus india is considering removing a span on boeing $737.00 next 9 months after the u. s. is the same. we'll take a look at why it is waited so long and the china will be met. then we take a look at the future of the health care system in the united states with our t zone, rick sanchez. we have a pac show today, so it's dive right in. and we lead the program with a follow up on chinese ongoing crackdown of domestic business. the chinese state council and communist party central committee released the document late wednesday, laying out their blueprints for the next 5 years. now the, the paper says officials would quote, actively work on legislation in several areas, including national security technology and monopolies. it adds the government will look to provide healthy development of new business forms with good laws and good governance related to the digital economy, internet finance, big data, and
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a series of other tax fields. as we have seen in recent weeks, investors are keeping a close eye on the regulatory landscape in china after the nation find e commerce giant alibaba. $2800000000.00 back in april, taking issue with anti competitive practices of big tech firms and mandated cybersecurity reviews of companies listed on foreign markets. the most high profile of which is right sharing, giant didi. so what does this mean for chinese companies as the nation looks to become the world number one, economy, while the discuss bring into bus co host christy. i to discuss. christy, what do you make of the document put out regarding the future of regulation in china? are they just doubling down in the policy? they have been ramping up throughout the year. yeah, pretty much china appears to be doubling down. and this was to be expected earlier this year when we talked about the box and ip and subsequently the government
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setting up their cyber security council. that was not for show that was basically laying the groundwork for a full policy overhaul, which is more current, an applicable to the new technology landscape, both domestically and internationally. so there's a doubling down and there's also a shift in policy as a parti field, as a big tech has gotten too powerful lately. and you see reined in their re focusing on other core sectors that they feel is vital for the economy. things like renewable energy, utilities, manufacturing, food sources. so in this overhaul, the auto sector and renewable energy sectors. they got a big boost from the policy. analysts say that there is little reason to expect beijing to soften on tech tycoon, or we can support for automakers and renewables in late 2021. and meanwhile, investors and entrepreneurs, they're going to have to pay a lot more attention to the communist parties policy statement. the point of all of this is aimed at the behavior of these entrepreneurs and tech companies and their behavior to make them more in line with the parties. long term plan. an agenda
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which isn't growth at any cost, but a controlled moderated growth for the benefit of all. so the recent surgeon tech this past decade and the power that the tech companies has math, it's become alarming and how much they dominate and control citizens behavior. so the crackdown is going to be a long term shift and palsy, not about any specific company or anti competitive monopoly or anything like that. it's about shaping the nation's behavior and re century itself. and at the same time, focusing on domestic home, going to central industries to remain defensive, should the international landscape get more hostile. now, i know we're no strangers to corporations having a lot of power here in the united states. but we often hear this criticism that regulation will hurt innovation, do chinese companies c at the same way? absolutely. regulation always stifles innovation, because you're limiting, i'm putting restrict on what can or cannot be created, what can or cannot be done. what does happen if you do something to well, well then you'll just be a target for monopoly or something if it puts
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a cap on achievement accomplishment. because then no one wants to stick out for fear of being targeted. but then at the same time, chinese companies are now trying to figure out how to self regulate to get ahead of it. so actually they're imposing some new regulations onto themselves as a policy shift behavior, it's currently quite loosely interpretive. there's nothing really sustained or distinctive yet, and i'm hesitant to say if one is good or better than the other. but it certainly is interesting that these companies are be so proactive to get ahead of the only coming regulation that they're raining themselves back. because you'll never see that here in the us. if regulations were coming, you see facebook and google fight tooth and nail. maybe been off a division houses somewhere else off shore where we have to comply, maybe creat another division. make up a thing like content moderator or something with a decorated official heading up the department to appease us regulators. it's a banded, they're not really complying because the repercussions are non threatening in the u . s. we talked about how facebook files are basically a joke to them. meanwhile,
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in china, the threat of noncompliance is very real. and it's something that companies are afraid of. so that makes them moderate themselves, even as technically there aren't any rules out yet. so it's actually kind of good that they're able to rein in their own behavior in a way that's like more appropriate, less monopolistic, and more for the good of the whole without being explicitly told. and now chris have about 30 seconds left, but i want to ask this point here because the combined net worth of dozens of chinese billionaires in the tech sector have lots of 16 percent since the regulatory crackdown picked up steam at the end of june. losing more than $87000000000.00 total according to calculations by the financial times and bloomberg. now again drawing a comparison to the united states here. do 1000000000 or have any impact on policy in china? absolutely, it's exact same thing whether it's in the u. s. or china, it's a quid pro quo. you scratch my back, i'll scratch yours. reciprocating trading, favors and everything like that. so billionaires, yes, they do have
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a stay in china, but it's not going to be as effective as maybe here in the us. there's no specific lobbying parties or anything like that, but as i mentioned before, earlier, it's a really shifting and redistribution of wealth. yes, the tech industry is going to lose money, but you know what? now the party gained has gained support of the automakers of the renewable energy. guys, jack moore has now gotten overtaken by a water bottling ceo. so basically the party at the same time, while it makes enemies, it is also making a lot of friends, which is exactly what happens here in the us under the, by the ministration. we hate big oil now and all the electric car manufacturers that are getting a booth. so it's trading favors. they are always going to have some more power. they're always going to align their power in the best interest. other people so blessed co host, christie. i thank you so much for lending some clarity to the story. thank you. boeing 737 max could be days away from being cleared for take off in india once
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again, 9 months after it made its return here in the us. that's according to reports. the regulators are closer than ever to lifting the band, which was due late because they wanted to take the time to gauge public set and sentiment toward the model. now if india grants approval, then that leaves china as the only major market that has yet to lift is ban. on the 737 max, beijing was the 1st to remove the model from its guys back in 2019 following 2 deadly crashes that killed everyone. on board, china did move to allow a test flight on the plane this week, but it has yet to say if and when regulators will allow it to return. so joining us now to discuss later captain dennis pager communications committee, chairman of the allied pilots association, captain tater, it's great to have you back on the show today. and notably, when we look at this report, it saying the india has way to not just to see if the 737 max was safe, but if it had the public's trust, is it possible that there is some truth to that?
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well, it's possible only they can answer that clearly in the us, you know, we've been trained, we've seen a safe airplane returned to service, but we're watching closely and i can't blame the indian authorities, nor the chinese authorities for making sure they have a full some look at the airplane and measuring public confidence in it by watching the us and canada, fly the aircraft and then hats off to them. they need to do this independently. as we've always implored each foreign regulator to do because the more involved the morse independent review, the say for the airplane will be and capital. now both china and india are among the largest ation market in the world. how much of a victory will it be for boeing to finally gain that approval in the nation? and has airbus use this time to actually increase its influence in those countries that they try to overtake boeing at some point here?
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well, i appreciate the narrative, but there is no victory in this. this is an aircraft that caused the loss of 346 lives due to poor engineering and lack of training and considering the real pilot in the real airplane. that being said, you know, the competitive advantage of boeing over air bus. you know, we're not really interested in that. we just want a safe airplanes for our passengers. so whatever a bus is doing and boeing is up to them. but one thing that we have clear memory, and that is that part of the reason that the max came in the original form was due to competitive pressures, commercial pressures, a competition between boeing and airbus were boeing fell behind the russian airplane in the service with a system that wasn't fully vetted tested and had changed. we all know the story of that. the bottom line is we're watching this because when commercial competition happens, sometimes folks lose their site on safety is the ultimate goal. but we don't lose
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it because we're on the airplane with our passengers and we are tasked with keeping them safe. no matter what airplane we're on and we'll never change that. and i know the answer is likely yes, here, but you know, now that it has been approved to 737 max here in the united states for several months. i mean, do you feel safe? i mean, i know you've flown those. i don't know if you're flying them now kathy: pager. but did you feel that safety? is there the way that you'd like it to be? wouldn't be on the airplane unless it was there. we've been trained, we've, they told us the airplane is fully vetted. we've confirmed that. but, you know, we also have our guard up for anything that pops up it's, it's an anomaly so far we haven't seen that. but you know, we're not just in a trust but verify. we're in a, hey, we don't trust, but we're going to verify anyway, so that's not to cause alarm as just to passengers know that there is an independent advocate out there and that's your pilots. so we're comfortable flying
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airplane, we're confident in it, but we're watching that closely and we're making sure that we're robustly trained going forward as well. not just in the initial re roll out as well. absolutely. and you want your pilot to be as confident as possible. now i want to switch gears a little bit. when it comes to our last question, we saw the spirit airlines cancelled around 2000 flights last week, which included half of its daily schedule several days in a row. now of course they blamed it on this perfect storm of weather delays. system outages and stopping shortages. but now reports are saying that the department of transportation is monitoring the airlines response to all of this. so at what point does the government get involved and what all can they do in a situation like this? well, i fly for american airlines and we've also had our challenges after a storm and he can't just blame it all on a weather they. they cited staffing issues, so his american, we actually at american uniquely did not have enough pilots ready to fly the schedule. and then when weather hits that really exposes that weakness and also
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some antiquated scheduling practices that you need to american, that we're trying to fix it. our pilots are all to with our passengers and that doesn't help us personally, not professionally. so is a government issued said surely they are the department of transportation uniquely inquiring regarding this airlines issues. but the, the senate transportation committee is now as say, what you do with all the money to make sure that you are ready to roll the money that was paying my salary during this time all the way through september. so they're asking management teams that the pilots already the roll, the aircrafts who are ready, the passengers are ready, but our management team did not have the depth of logistics and skill set to handle weather events. you know, i got news for you whether happens. it's not a clear sky or lines, it's how you perform after the weather event. and in this case, american and to a different degrees spirit. just let our passengers down and our pilots. so we're going to fix this at american. but we need a partner in this and as management,
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and then all comes back to all the money at the end of the day, captain dennis pager. thank you so much for your time and insight. do lawmakers and poland have approved a new law that would limit for an ownership of media companies. now, according to the bill passed by the lower chamber of the polish parliament, any firm outside of the 30 nations that make up the european economic area cannot own a majority stake in immediate company based in poland. and you may not be surprised to hear that the us is not happy about it. boom mosca has been swan is in venice, italy with more well guys, the move to limit the majority. ownership of media in poland has infuriated the u. s. state department, including the u. s. secretary of state, who says that this move could actually endanger poland standing when it comes to investment more on that in a minute. but let's break down exactly what happened here. at stake is discovering
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that works. majority ownership of poland, largest tv network tv in. if this bill becomes a law, it would likely require the discovery cell at stake in the network. the united states is also deeply troubled by draft legislation pass today by the lower house of the polish parliament that targets the most watched independent new station, which is also one of the largest us investments in the country. anthony blank in the us secretary of state said in a statement on wednesday, but that is the point discovery channel claims that this bill targets them directly . it seems to tv and license expires on september 26th of this year, but the vote to move the bill forward was not without controversy. the government lost a procedural vote on wednesday afternoon and the opposition managed to pass a motion to postpone the vote on the media bill until september. but the speaker decided to hold the vote again, arguing that she was justified in doing so. in cases when the result of the vote raises justified, doubts preceded by cries of shame from the opposition benches. the government
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narrowly won that 2nd vote. and so the bill will move forward despite cries from the us that to do so could harm investment in poland in the future. but i've got to tell you the latest move highlights the big difference between western europe in countries such as france and italy for i am right now an eastern europe that continues to be more at odds with the united states. countries like poland and hungary reporting for boom, bust and bins one the time now for a quick break. but when we come back, the united states health care system has recently registered. it is one of the worst in the developed world with costs going through the roof. we'll take a look at what the future could hold as we're going to break here, the number that the me
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one of the worst in a mess. shootings in america was in las vegas in 2017. the tragedy a close a little of the real last vegas, where many say elected officials are controlled by casino loaners. the day gets shooting, revealed what the l v m p d really is. and now it's part of the spin machine to the american public barely remembers that it happened, but just shows you the power of money and las vegas. the powerful showed that true colors when the pandemic had the most contagious contagion that we've seen in decades. and then you have a mayor who doesn't care. so here's caroline goodman, offering the lives of the biggest residents to be the control group to the shiny facades, conceal of deep indifference to the people vice gonna been saved if they were to take an action. absolutely, keep the registering and keep the slot machines doing. they use as a money machine is a huge cash register that is ran by people who don't care about people's lives
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being lost. the air. welcome back. we wanted to take a look at the state of the health care sector in the united states. in recent years, there has been somewhat of a movement in what is known as value based. hi, mary care. and just this week, several companies in the field released earnings with varied results. oak street health, which plans to add as many as $42.00 centers this year has seen its stock fall nearly 20 percent this week and it posted a net loss of just over $100000000.00 in the 2nd quarter. despite revenue being up 65 percent year over year, the ceo company says that there were several factors that contributed to higher costs, including a jump in the number of coven hospitalizations. there is also clover health, a one time mean stock which saw its price jump nearly 10 percent since reporting
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thursday morning. boasting a 126 percent increase in patient year over year, but also saw significant net loss of $317000000.00. again, despite revenue jumping nearly 140000000 for the quarter year over year. and then there's can health, which also reported thursday, seeing it stock price jump 10 percent on $4900000.00 in net income and revenue up 130 percent year over your membership with canada was also more than 50 percent year over year. now clearly we can see that this sector is growing as americans spend more on health care than anywhere else in the developed world. so let's discuss with our very own rick sanchez, who full disclosure here was involved in the founding of can't help. now, rick, why are we seeing growth in this sector? and more importantly, can you explain the difference between a value based health care system and what is known as a volume based health? part 2, question. the 1st one is because america's health care system is in disarray. it's
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fragmented, it doesn't work, and that it's not, and that's acknowledged worldwide. in fact, look at any survey and you will find that of all developed countries in the world. ours is the least effective, and the most costly. so we pay the most amount of money for health care in america compared to almost every developed country. and we come in 30 of place every year among those 30 developed countries. that's not a good track record. so what does that mean? we need to come up with a change. the change seems to be a direction toward value care, as opposed to volume care. what is volume care? volume care is what? unfortunately, we're used to. it's a transactional effect between a doctor and a patient. you break your ankle and you go to the doctor and he charges you and then you leave and then maybe next month you are your neat. you go to the doctor,
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you pay him amount, right? that is called a fee for service arrangement. you pay a fee for a service right now. value care is different. value care is not about a one time arrangement with a patient. it's a long term relationship with a patient. you become a member, you become a part of the group that that doctor will then be responsible for your care. so here's the difference with value care. the doctor is given a certain amount of money and if that patients health goes. busy down, he makes less money if that patient remains healthy, he makes more money. so it's not a one time transaction. it's a long term relationship. the doctor doesn't see the patient. for 120 minute period, he see the patient for 20 years. and rick, the question i have about this is, it seems like that allows in this situation for doctors to pick winners and losers
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because i get paid based on how the health of that patient is. so what stopped me from say, people who might be in health, you know, might have issues with their health. i don't want to see them. i only want healthy patients so, so it, so when it comes to the, that's a great question. by the way, a guy come, then the patient says, i want to be a member of oak street or can i health or, you know, any one of these groups and they say do you smoke? yeah. but 4 packs a day. do you drink? yeah, drink go all the time. okay. don't find this guy. yeah. you're right, because they did. if i take this guy, he's going to have diabetes and high blood pressure and everything else. so we're not going to be able to get him. well, it's a good question, but the system has something to take care of that 1st. if you're not on a capitated system, which is medicare using that, suppose this man is 65 years old that we're talking about. he probably has a preexisting condition which already has them on medicaid, which has a different set of ways that you can take patients in the other part is just common
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sense and ethics. doctors take a hypocritical to take care of people. so those doctors are going to take that man in and they're going to then establish him as a smoker, who has high blood pressure. they can prove to the insurance company that i got, they got him to quit smoking. and they lowered his blood pressure. and they're checking his diabetes scores and he's coming in for a checkup once a week. they will be paid because they're helping him become healthier, even though he started at a different place. now is this one of those cases where they're mainly looking at medicare patients now? i mean, is there something for younger people like myself who need to start seeing the doctor and going through that process younger before those health problems? well, 1st of all. busy you have to understand young lady that you are becoming the minority in the united states. we are an old country, and every day, more and more people are turning $65.00 and the system as it put together right now
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. if it doesn't have a value, care system will not take care of those older people and it will go broke. but to follow up with your question, yes, i see a day and a time when this system, this value care, which is a joint relationship between the government and insurance companies and doctors who run it key point there. it's run by doctors. it's not run by the government, it's run by insurance company. so it's the 1st time that these medicare advantage plans have been used to take care of that answer. good question. i see a time when younger people will be able to be eligible for a system like this as well. and there's certainly a conversation that we could have about this involving universal health care. but unfortunately, rick, we are out of time. in this particular segment. we'll happy back to talk about it. yeah, yeah, but it's a good segment because it's true value care seems to be kind of where medicine is going in the future are t rex at thank you. thanks the
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and finally nasa has its site set on an asteroid that could be worth could really and of dollars and precious metals. but they say their plan is just to study the object that is located between the orbits of mars and jupiter. psyche 16 was discovered back in 2019, and nasa is planning a mission to explore up close next year. now if you're also wondering why they are planning on mining the asteroid just yet, well, that's because some estimates, the value of its gold is so massive. it would make everyone in the earth a billionaire while also destroying commodity prices and possibly leading to the collapse of the world economy as we know it. and another news, nasa now says they have a better understanding of an asteroid that they have been keeping an eye on since it was discovered back in 1999. well, it currently orbits. the son,
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experts say there is a one in 1750 chance that the asteroid will come crashing to earth sometime between now and the next 200 years, just 11750 rachel. that entire story was about the plot of armageddon. as far as i'm concerned, and that's it for this time we catch boom bus on demand on portable tv available on smartphones and tablets. google play in the apple app store for tv. you can also be downloaded on samsung, smart tv and roku devices or simply check it out at portable dot tv will see you next. me ah, ah, ah, the i
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lose i will. i will so what we've got to do is identify the threats that we have. it's crazy. even plantation, let it be an arms race is on often very dramatic development. only personally, i'm going to resist. i don't see how that strategy will be successful, very political time. time to sit down and talk the other stuff and then you need to talk to someone like you can't
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find anybody when i'm at, when i'm in a position where you may need to check on it for me, which one you want to do about what i was looking for the day join me, but it was easy. i got to get to the can put office me quite a bit as long food. i want to tell you the other hand that's why you need that because that quote the
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tragic news from russia. one woman dies and 18 other people are injured in a blast on a bus in the russian trying to vote on it. the reasons for the explosion are as yet unknown. and i witness. it says that the black, the vehicle extremely hard. the explosion was very loud, so loud i was deafened for some time, and the blood pressure was so high that my call was almost pushed to the other side of the road. wanted to tell it says it's seized. i've done a sand 2nd and 3rd largest cities come to her and her up with the militants wrapping up their country wide offensive. amid the u. s. troop withdrawal and firefighters and volunteers. battle huge wildfires and rushes far east, where a state of emergency is enforced. smoke and ash have coated huge areas. our correspondence is in the thick of it.

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