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tv   Boom Bust  RT  August 27, 2021 8:30pm-9:00pm EDT

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good afternoon, i english v i n v i n our lease to austin, one tablet block, nato took it out. we moved east. the reason us had jimmy is a dangerous is the lie. the sovereignty of other countries, the exceptionalism that america uses and its international war planning is one of the greatest threats to the populations of different nations. if nato, what is founded shareholders in the united states and elsewhere in large companies would lose millions and millions or is business and business is good. and that is the reality of what we're facing, which is fascist. this is been by someone business show you can't afford to met. i'm rachel bluff branch aboard and washington coming up. john is regulatory crackdown continues to expand at the nation plan,
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the ban on certain firm watching us i. p. o. sure. as we dive into the latest efforts, markets are winding down for the weekend. we bring you a look at the state of economies around the globe is the u. s. federal reserve insight into future policy plans. then we take you to the u. k, where the nation's ongoing recovery is being threatened by a massive labor shortage. well, the scott, we have a lot to get to today. so let's get started. the we leave the program with the late us on china's efforts to crack down on big tech and specifically on the companies listing in the us. asian has repeatedly cited security concerns, especially for the companies like the ride share app d v, which holds the data of hundreds of millions of users. reports are now saying that
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as early as next month, the chinese government will propose new rules that would ban companies with large amounts of sensitive consumer data from going public in the us. however, companies with less sensitive data such as those in the pharmaceutical industry, are still likely to receive chinese regulatory approval for foreign less things. so how is this likely to impact market worldwide? and what will it mean for tensions between china and the us? joining us now to discuss the latest moscow host, christy i. now, christy, the latest report stay that basing is targeting those with a certain level of sensitive data. why is this the focus right now? while it's actually been the focus for many years now, the plan has been fermenting for years, but now it's rapidly gaining momentum, giving the growing schism between the us and china and accusation from both sides of security breaches. so the plan is designed to protect chinese interest and to help support the chinese economy in the coming decade. and this include pilot
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projects for the state supervise data training markets. so the idea, this splinter net, where you have a western internet and the eastern internet has existed for a while, but the trade war last year and deepening mistrust has now fuel the wave. data is becoming a critical battle ground between china and the us. and both sides fear the other that unchecked collection by private firms could allow state actors to weaponized information on infrastructure and other national interests. and then of course, the other reason why china tiny script on sensitive data is to potentially help buoy slowing economic growth. this information could range from just about anything from health records and court documents to maps and shopping history. and this could be categorized standardized and valued, making a commodity to be traded. and this is something that china has been working on for quite a while now that social media has collected so much data. so how do we really tap into the value that flows from data from an economic standpoint?
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and christy, what kind of message is this sending to other nations like the united states, given that they are really affecting the future of for lifting yeah, sending the message to other countries that the u. s. isn't the only big capital market out there and that there are risks to listing in the us. the us used to be the de facto market to i p o on given its global reach and investor participation, they're kind of sending the message that there are other places to raise capital, not just the u. s. and it's capital markets are no longer what they used to be. and also, while there's a certain paranoid aspect to it by citing these security concerns over listing in the us, it's also pointing out to other countries that, hey, if you list your tech darling here in the us, they might look on the hood and demand that you release all the sense of data you collect on us citizens over to them and this term sensitive. it's just completely arbitrary. they can say anything is sensitive and or to lay claim on it. the us capital market was the gold standard because it once represented
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a free market. and now it doesn't seem to be the case anymore because what happened to china could very well happen to any other country that gets on the u. s. is bad side. the u. s. threatened to deal as chinese companies forcing institutional to divest interests and chinese companies. and let's not forget tick tock. the u. s. tried to force it to sell itself over to an american company, which essentially is legal theft, a chinese i. p. and now it looks like the future battle ground of tech will lie within user data, which is a valuable commodity and something which foreign companies will not want to turn over to the us. it really is interesting to see how china is responding to the policies we've seen from the u. s. over the last few years. now another story that came up this week was the fact that the chinese government is also moving to regulate the algorithms used by tech companies like fight, dance, and tens that holding. now, of course, china is known for having strict controls that band. the majority of social media sites we use here in the u. s. so what kind of an impact is this restriction on
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individual algorithms expected to have? well, i think it's a huge, over step by the government to try to regulate the algorithms of private company. essentially what they're saying is, hey, you're doing too good of a job at what you're built to do. we need you to tone it down a bit and be less powerful and thus less profitable. the cac released a 30 point draft proposal friday and a soliciting public feedback until september 26. and these new rules will regulate algorithm empowered recommendation activities on the internet, including content aggregation, personalized recommendation and search ranking. and this is quite disturbing because it means that content that you can see can further be regulated online and controversial topics and chat thread will be buried even though it's clearly trending. so this is the latest effort to influence online public opinion amid efforts to regulate the platform, economy, and information distribution. but on the other hand, there is some good and these proposed rules to though ad agencies and platform
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service providers. they've used the algorithms for bundling sales or learning consumers, and they even buy and sell information to 3rd parties without user permission. so in certain instances, these rules are going to be a good thing for consumer data, privacy and protection. so the use of these algorithms help the platform operators, but then the merchants and the users, they're often squeezed. so there isn't a distribution of profits in the end. so in this respect, there is some good, it will help to regulate the box and the ad agencies that post fake reviews fake like to upload certain products and manipulating online rankings. but overall it's going to be very tough space to regulate because the question is, who controls the algorithm and who the algorithm serve it, chris? i have about 20 seconds left for this question. but when you talk about that, are we really only looking at kind of been to the various algorithms or are we looking at something like tick tock, which was that was one of the big portions when they talked about a possible sale. was that there algorithm was so good, they didn't want to let that go. exactly. and you see this with 10 cent as well
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because tense that actually had to regulate how, how good their gaming platform was. so then they had to regulate how much time chinese kids actually spend online playing their video games. so this is another, there's another aspect of trying to try to control the content that people see. and the time that they spend online to try to influence what the chinese culture value most, they can spend all their time on gaming and shopping and consumer to them. they have to spend time on other things. so they are trying to monitor how much time citizens allocate to what aspects. so it is quite disturbing, actually. wow, it'll certainly be interesting to see not only what those policies are, but what the government is actually able to control in this new age must christy. i think you so much for your time and insight. thank you. the global markets are mostly up for the week, rebounding from last week. losses as investors kept an eye on federal reserve chair
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jerome powers remark following the jackson hole symposium and continuing concerns over the cobra. 1900 delta. very, let's start in russia with a green arrow for the mo, x as the index gain, more than half a percent for the week. rising oil prices to close out the week help the mo, x and the ruble. a new pull of market analyst by reuters suggest the marks will climb to record highs this year, a clip thing 4000, and continue to see again moving into 2022. moving to asian markets, the shanghai composite is up nearly 2.5 percent despite the regulatory pressure we have heard so much about in recent months. the composite had been on a 3 day winning streak. but last, more than one percent on thursday, as a slow down in the property market took a hit raising concerns about future economic growth, pushing the banking sector down in hong kong. the hung sank is also a following similar trends as the composite filling more pain from the tech crackdown. thanks. i tech index lost more than 2 percent on thursday alone. shares
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of ali baba and my twan. they each fell about one percent, while apple supplier, ac tech bell, more than 11 percent after reporting earnings. the index was able to level off on friday to close out the week ending up just shy of one percent. we have another green arrow in japan for the knee k up more than 1.5 percent for the week. the majority of the gains came monday and tuesday. conglomerate, soft bank was up to point 4 percent for the week, while chip makers are also driving amid the global semiconductor shortage. moving to india, the syntax is up just over one percent for the week. the indian stock market hit new record highs this week on the back of the technology and metal sector. now that's despite persistent, worried about rising inflation, governor from the reserve bank of india that the central bank is not looking to raise interest rates from a record low in the short term, adding they will not make moves without warning. in australia, the assets,
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it's in the green, but by less than half a percent new data release friday shows retail sales in july felt significantly a city face to cobra, 1900 related lockdown while the commonwealth bank of australia also download the revised 3rd quarter g p predictions to a contraction of 4.25 percent in south africa, they all share is also up for the week. most of the games came early up about one and a quarter percent. on monday alone, sentiment continued to swing up as the economy was nearly 11 percent or $37000000000.00 bigger in 2020 than original projections, according to data from statistics, south africa and again, the nation's treasury said economic damage from riots in july could cost between point 7 and point 9 percent in economic growth for 2021. now let's check in with rachel for europe in the americas. thanks, brent. here we start in the u. k, where the, the is up, the energy mining and health care sector, school gains for the index this week with b, p oil and gas up nearly 35 percent,
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and anglo american mining up nearly 7 percent for the week. this as a growing labor shortage threatens the countries recovery will take a more in depth look at that coming up and nearby the german dax and french kac are both in the read. the same labor shortages are hitting europe, as germany says, it needs more than $400000.00 additional foreign workers to fill its labor market. and while france has faced weeks of protest over the requirement of a health path for indoor activities report show, consumer confidence only took a slight hit this month. and the continued increase in spending caused the countries finance minister to describe the french economy as doing well across the atlantic. now to brazil, where the eve of us, but is up this despite the news that the countries consumer price index is up. point 89 percent, and mid august, marking sharpest increase since 2002, fueled by electricity, food and gas prices. the latest reading also comes weeks after brazil move to raise
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interest rates once again an over in mexico, b and b as down the countries oil output to the hit following a massive fire on an offshore platform. the left 5 people debt. the impact on 40 percent of mexico supply sun oil prices on a 4 day rally. meanwhile, the latest data shows, gains and services. agriculture and manufacturing have helped mexico's g. d. p growth, 1.5 percent in the last 3 months. here in the us down the nasdaq and the s m p are all in the green this week with all eyes on fridays address from the federal reserve investors side with relief as chairman power signal. he isn't planning to pull back on the fed, easy monetary policy just yet at the f l. m. c's recent july meeting. i was of the view as were most participants, that if the economy evolved broadly as the anticipated, it could be appropriate to start reducing the pace of acid purchases this year.
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reading months has brought more progress in the form of a strong employment report for july. but also the further spread of the delta variant. we will be carefully assessing incoming data and the evolving risks. and finally in canada, csx is up to and the week after nearly having another all time high on tuesday, the next saw gains fueled by energy stock taking 2 week highs. as oil prices rallied. now, canada is now less than one month away from an early federal action called for by prime minister justin trudeau, which will determine the future of the countries parliament. and moving next week, we will continue to keep an eye on the state of supply shortages around the world and how they are impacting the global recovery. and the united states supreme court issued a ruling late on thursday that struck down into victor moratorium from the cdc in a fixed at 3 ruling. now this comes as the new figures show that nearly 90 percent
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of rental assistance funds have not yet been given out. training chavez, on the ground in new york and brings us the details on the state of renters. of the white house prepared for us supreme court order that could invalidate the new federal eviction moratorium, newly released data show state and local governments across the us have only distributed 11 percent of the funds congress allocated to help pay off debts accrued by renters during the coven, 1900 pandemic. i got sick and ended up being backed up by my rent, because i was in the hospital for a while. and also i got back up during the winter time because of the panoramic and corona virus and being backed up on my rent. and my landlord doesn't want to hear it. so he got me in july, more than 340000 households received nearly $1700000000.00 in rental and utility assistance. that's about a 15 percent increase compared to june. and more than double the number of households served in july that money bringing the total amount funds released to
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approximately $5100000000.00 or 11 percent of the $46500000000.00 rental aid program. new york congressman representative monday or jones taking a twitter saying this is an acceptable we thought to extend the eviction moratorium to give states a chance to distribute these funds. but time is of the essence. states like new york must immediately get these funds to renters. with the urgency this crisis demands, feel loss. i feel helpless, clear in the white house, so has defended it. slow pace. the thing over a 1000000 payments have been sent to families, gene sperling, who oversees the operation of federal pandemic relief programs for president biden, told the new york times about a 1000000 payments have now gone out to families. it is starting to help a meaningful number of families. it's just not close to enough and an emergency like this to protect all the families who need and deserve to be protected. so there is still way more to do and to do fast out some say the white house in cdc have likely legally overstepped their bound. and this latest extension,
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if you're asking me, is a private structural landlord to provide public or free housing. cuz it's not my role, my role is to supply house and you get paid for it. and if you're preventing me from evicting someone for not paying their rent, so you're asking me to be subsidized housing now, some landlords have rejected federal aid arguing that evicting non pain tenants is not only there, right. but the most effective way of ensuring their revenue is not interrupted in the future. reporting for boom bust trinity job s r t. i'm now for a quick break. so when we come back to united kingdom continues to bear the brunt of a labor shortage as the nation supply chain remain shattered. straight ahead will bring you analysis from someone familiar with the industry. and as we go to break, here are the numbers at the close, the
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the who's the, the news americans love buying homes. ah,
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this is a fundamental part of how our political leadership and our country at large understood the bargain. you get a whole and then you know, rebel, right, that's the things you don't revolt if you have a stake in the system. be really interesting to dial back and think about a longer, deeper history of what housings meant in the united states. not just that old question of the american dream, but the bigger question of who the dream has been for the families that mark i took market function was like well that's good. somebody else who definition me to another
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do john got i've got that limit and i wanted them off. you're gonna be like that. you don't know what about the less about me and the air. welcome back. the economic recovery in the united kingdom could be flowing as the nation faces the labor shortage and supply chain disruptions due to the cobra. 1900 pandemic, and fall out from breaks it back in july. job openings in britain cross the 1000000
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mark for the 1st time since records have been cap, despite many workers coming off of furlough and unemployment numbers continuing to fall. there have recently been supply shortages throughout the food industry, including restaurants, and supermarkets, with industry groups, blaming breasts, it as you nationals working in truck driving farming and food processing left the nation. meanwhile, a recent quarterly survey by the confederation of british industry shows optimism and consumer facing business fell to minus 17 percent for august, down from a positive 47 percent in may. the worst reading says the height of the pandemic. so what all of this mean for the future of the u. k. economy, while the discuss was bringing more with his board member of the british american business association and president of straw mark business development consultants. i was a pleasure to have you on hillary country. right now we've heard a lot about labor shortages here in the united states, but it seems there is a similar situation, the u. k. but with different factors,
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what's behind it and just how bad is best for you, right? but there are labor issues in the u. k, as are all in the u. s. and of course, many countries. i think the 1st factor is really the same as the us. i mean, the follow program that was wonderful during pandemic hits is prevent a lot of people from going back to work. and that program hasn't completely ended and the u. k. government is still helping knows that we're self employed as well. so you got the follow issue. you also have the exodus of the workers before the pandemic. they want to go back to their countries, particularly eastern europe and with the travel restrictions they weren't allowed to come back into the u. k. then you have the laurie driver issue, i mean, this little issue is going on for 25 years. mark seldon is the financial of the media advisor to the you president the u. n. and he said this is gone on the 25 years and have, i can remember this from when i emigrated to the u. s. it's low wages, it's not a job but very pleasant and it's always been there in the u. k. so the laurie dr. issues never going away. the 3rd is that the 4th issue is that of, if you look at it,
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you're going to see that immigration normally has occurred into the u. k. that labor shortage is exacerbated because of the travel restrictions. people can come in to the u. k. in the way they used to to work. and last but not least, the ping demick has been a major factor because people had to stop isolate, so they're out of the labor for labor. 4th, a lot of them have had to stay home and that was contributed for those 5 factors. brand have exacerbated it. kind of like a conundrum of the book telling me, okay. right. and i know that there's a lot of moving parts there. now at the same time, we're all looking for, we're not just for the few months that especially to the holidays and we've got supermarkets and producers warning with the supply shortages could allow to the holidays and could even really hurt christmas is their concern there about how the how long the shortages will last. well actually you're picking right up on the story that's to do with when i mentioned the you work because a lot of them are officers that they worked in the meat packing and meat industry and a lot of the pigs. of course this has been effected because they haven't been being able to slaughter them the same way as they used to. and as this prediction of
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a sausage shortage will in the u. k. we are in england, a lot of people celebrate christmas and forces roles are a big thing at christmas. so it's called like the sausage christmas, you know issue. i think a lot of the media is made a big issue, but i would say in all seriousness, the semi conductor issue in the shortage across the world is the same worldwide. this is affected all the supply chain across the us, of the u. s. and the world and also that was exacerbated by the suez canal blockage . so the prediction i would, i would say, is i would look to i n g, the bank of that, james smith, the chief economist there has said he looks to basically the beginning of 2022 that things should eat. so maybe there be some sort of is up to, through the holiday season in the u. k. but by early 2022, things should be more back to normal, particularly in the supply chain. and that will be the same globally. and it feels like that's something we hear regularly that these things will kind of work themselves out relatively soon. but the question is, will they really? and i have about 30 thanks for the last one. but data from the bank of england
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shows that debit or credit card spending has fallen to just 94 percent of pre pandemic levels in recent weeks following freedom day. what do we know about spending in the u. k right now? well, actually, the euro's, of course, ended in july left. and up until that there was a massive build up a lot of spending. and i think that the client actually was freedom day was the 19th of july on people who go on vacation. you know, people are not doing what they normally do, they're not spending the same kind of money at home and not celebrating because the euro's was a big bump. and i think a lot of that decline is somewhat people are a little bit sick of this. and i think it's a delta variant to the ping demik really damper, i think on the spirits of the u. k. people won't going out to shop. and there are a lot of people will actually, i mean at least what i heard a lot of businesses people would be ready to buy, but they were ending up. so by selling because about taylor is waiting for me to say something about the euros in england losing, but i'm not going to do it hillary, which if the british american out of the asia do thank you so much pleasure.
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and finally, from one shortage to another liquid oxygen is in short supply causing space x to warn their upcoming launch plans could be impacted as a result. the liquid oxygen is an important component not just in the rocket. soaring and outer space, but also in the ventilators used by hospital st and critical cobra. 1900 patient, arise in cases prompted the city of orlando to call on residence to limit their water use due to an increase need for liquid oxygen and local hospitals. that resident and c e o of space ex said future launches will be impacted. but the company is keeping hospitals in mind. she added a quote, anybody that has liquid oxygen despair, would you send me an email? as for now space axes fill set to launch? it's falcon 9 rocket from the kennedy space center in florida before dawn on saturday. as part of a resupply mission to the international space station. and, you know, rachel, it seems like obviously the flight to the international space station is necessary
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. when you have to resupply your people kind of do for lack of a better term, out on an island in the middle of the space. but said, hey, does anybody have any liquid oxer despair when it's clearly needed into the health care industry? to deal with the influx and patient dealing with cobra, 1900, maybe that might a bit a little bit off base. and you know, i'm a pretty pro space exploration by the billionaires. but you don't like to see this when they're saying, hey, this needed supply, we need that to fly to space. and then layer reality check there. that's it for this time you could check boom bus on demand on the horrible tv app available on smartphones and tablets. the google play in the apple app store by searching portable tv. portable tv can also be downloaded on samsung, smart tv, and roku devices, or simply check it out uh, portable tv will see you next time me ah.
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when i would show the wrong. when all just don't the rule out the same because the after an engagement equals the trail, when so many find themselves will depart. we choose to look for common ground in the ah,
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me is the earth still large enough to satisfy the ambitions of jeff bezos? you know, it's got its tentacles in so many aspects of the economy. there's nothing that amazon isn't trying to get into to step by step. the amazon empire has extended its grip on the world that was like being quiet like a dog. and so amazon looks like monopoly trays like a monopoly makes money like monopoly behaves like monopoly. amazon essentially controlled the market place. it's not really a market as a private arena world where a single company controls the distribution of daily products and the infrastructure of our economy. is the, according to amazon you know, look at the low,
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low ball latan and me say what's happening has the goal low ball banks perpetuate their logo, money thing the, the, ah, this is $270.00 dead. nearly $200.00 to the aftermath of a terror attack, the short cobble apple, where crowds of both guns and foreigners were cramped together, waiting for evacuation. the witness who was just to meet him from the explosion share this video and his thoughts with us.

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