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tv   Boom Bust  RT  September 4, 2021 1:30pm-2:01pm EDT

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ah, i this isn't by someone business, so you can't afford to miss. i'm rachel. and i'm bridget boring. washington coming up. the eastern economic form and underway in russia as world leaders me to discuss tea geopolitical issues, facing the region straight ahead. we bring you a report from the ground plot. amazon is allegedly ramping up its efforts to clear its platforms of content. it claims violate the terms of cloud service. later on, we dive into the details of the latest reports about the world's largest cloud provider. then it says global ship shortage continues to impact the auto industry. we'll take a look at one board and general motors say they are planning to fall back on production in the coming month. we have a lot to cover today,
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so let's get started. the really the program with the latest in the world's 3rd largest economy as japan's top official confirms he will not seek to continue his role as leader of the governing party after just one year and office following months of allegations that the government response jacoby 1900 was too slow along with criticism over the decision to continue with the olympic games a summer. prime minister go she, he'd a to guy says his goal moving forward is to continue to focus all of his efforts on the health of the japanese people. so can you, at the liberal democratic party committee? i said i would like to focus on cobra 19 measures. so with that in mind, that i've decided not to run in the party leadership elections. while thinking
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about running and thinking about coven 1900 measures in the election campaign. doing both takes enormous energy. i've decided that i should just choose one or the other. i have made many promises to the people i want to dedicate myself to prevent the spread of this infection. that is what i have decided. his announcement comes one year after the longest serving prime minister in japan's history. sions ave, announced he would resign over health problems after 8 years and office and the questions that were there could return for an unprecedented 3rd term. there are also questions surrounding the top contenders and the governing liberal democratic party with reports noting both have signaled they would take a more hawkish approach to china and have supported plans to increase japan's military defenses along with this present at sea. and the economic form has kicked up in russia as leaders from the key players spoke about a host of issues ranging from economic development in the region to the situation
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in afghanistan, to the coven. 19 pandemic. the 3 day for him kicked off on thursday in the rush report, city of lot of boston, which sits on the sea of japan. several leaders spoke at the event including shooting, ping, of china, who address the foreign virtually distress the need for stability in the region. for me, i was able to be, we should make concerted effort in safeguarding regional stability, bridge our differences dialogue into an occasion and built consensus to establish a security concept that shared the comprehensive, cooperative, sustainable core. so we can together build a peaceful and harmonious homeland blank. r t correspondent julia shop of oliver has been covering the events and rushes far. ethan brings is the latest from the annual conference. i've got it down situation dominating discussion on the eastern economic forum and russia's lead davis stock lessons learned the topic on everyone's lips. india and galia complex found and thailand are among those
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gathered with the hose, the development of the northern c route and the economy of the whole, the far east and pacific region and india. also on the agenda. debris couple of ghana found isn't nobody is interested trends the russian president in the opening address today the taliban does control most of the territory of afghanistan. and we have to be realistic. we have to look at what's really behind the taliban statements. russia has no interest in the disintegration of afghanistan, or else there will be no one to negotiate with. so the sooner the taliban joins, so to speak, the family of civil states, the easier it will be to communicate with them, to ask them questions. civilized negotiation means certain rules and with the country disintegrated. that's impossible. he added that a lesson from i've got to stand was that democracy cannot be imposed by violent methods from the outside stating that if people need it,
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they will can put on their own. what's happened in afghanistan is indeed a catastrophe. is not my word. it's american analyst saying it's americans are pragmatic people and have spent over $1.00 trillion dollars on the african campaign . but to what end, there is none. and this is a humanitarian catastrophe, as well. if you look at the number of people left there, people who work for the western forces, i hope the west will come to understand that their old policy, namely, to civilize other states forcibly. and bringing elements of modern civilization in the image of western countries themselves is a mistake. russia and other regional powers code on the global community to come together to solve the problem. mosque also place to develop the transport potential of the far east, including building the capabilities of the northern sea route by $20.00 to $24.00. the volume of freight traffic along the route should grow to $18000000.00 tons per
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year. stress the russian president, while also encouraging other countries to support the project, the new route and alternative to this so as can now passes through russian territorial waters. and according to moscow is the safest and most profitable route ever. it will come the journey from japan to the netherlands to 20 days, from the existing 1st 3 days by the existing suez canal, and indian ocean root. of course, another major talking point was the corona virus thailand, calling on member states to establish a unified system of recognition of vaccination certificates to revive the tourism industry. the tie pam added that for many countries. tourism is a key drive. we can make development, and it has been devastated by the pandemic. so it was a lot to take on and we'll need some far analysis and implementation, indivisible, future nash, apollo,
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to debate over free speech. and censorship is moving to a new level as amazon a w s has announced that it will begin a proactive approach to determine what types of content violate it's cloud services . policy reports say the rules are against promoting violence and will enforce its removal and move likely to renew debate about how much power check companies should have to restrict free speech. to joining us now to discuss it and investigative journalist benz want, are a, been a w. s has already begun taking down websites that seem to promote violence in the wake of the killing of 13 us marines. and i can't stand. so why is that a problem? well, that isn't up and so i don't think it's a problem. certainly, i mean, we get it, we can debate why it might be, but here's, here's kind of the story behind that. so you've got this isis back web site, reportedly that was basically excited about the killing of those 13 marines in afghanistan. and it was praising this action and it was promoting more violence
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against the united states. amazon was tipped off to it by some folks in the news media, and they took down that website amazon for folks who don't know this a to be well controls about 40 percent of all cloud computing in the united states . so they are extremely powerful and extremely influential in terms of websites. so that includes not just, you know, storage, but it also includes the ability to even host a website. they control much of kind of the backbone of the internet as it's called . and so 8 of us decided it was going to take down this website. it did so, and most people would say, hey, that's fine, that's good. we don't want to see websites doing that. the problem is, of course, it never stays in just one website or one area. and amazon is already talking about how was going to build a new team and essentially target websites and target any kind of storage of content that it deems as being extremist. and that's a word that kind of goes along with what we call a slippery slope. because what is extremely to one person is not necessarily
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extreme to another. and i want, i want to hit on that point about the reports that indicate that amazon will hire a small group of people. it's amazon web services division to develop expertise and work with outside researchers to monitor for future threat. what exactly does that mean, ben? well, that's a good question. what exactly does that mean? so here's what we know. it does not mean so according to amazon, this new team is not going to be going back and looking over existing content that's already being hosted in its cloud services, which is strange because what they said they are going to do is now be looking ahead to any content that might be in the future posted that would be considered extreme. it's. so how do you know what's going to be extreme as well? it sounds like what, what amazon is really saying is they're going to keep an eye out on certain types of thought or speech that they view as extremist. and they're going to get rid of those sites before they really gain traction before they are visited by a lot of people. and the goal here seems to be less about taking down existing
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sites because there's a lot of debate about that. as you guys know, it's very politically charged and instead denying the entrance of those sites in the 1st place. and that's where again, it becomes problematic because of this small team by amazon. and by the way, they're new head of global policy who they're looking for right. now decide that certain content should never exist in the 1st place. amazon has a lot of power to keep a lot of different websites from ever, even making their way onto the internet. wow, that sounds like a lot of power and just a few people making those very important decisions. now, while we have you on here, i want to bring up another story that got a lot of coverage, which was that on friday, apple. and now that it will delay its plan to scan users, photo libraries for images of child explored ation. why is the company holding off? yeah, well they got a ton of backlash, as you guys know, from this decision to, to move forward with scanning through icloud photos and storage on people phones looking for what they say or child porn images. now it won't be people doing it.
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it's algorithms that are essentially looking for certain kinds of content. and if a, as they're scanning through your content, they come across a few things that they think are suspicious than a human would go in and begin to look at it. and if they find child pornography images, they would then for those on the authorities and a lot of people in hearing that don't have an objection to you trying to root out child pornography. the problem is, is that once you begin to do this, it opens it up for you to do it on any number of things, any, any kind of content that you want to scan through and look through and decide what should and should not be allowed. and i think this story continues to go back to the idea that more and more we have a few companies that get to make enormous numbers of decisions over conduct, belief and behavior. and that is incredibly difficult in a society that's supposed to be a free society. it doesn't feel very free, certainly not when it's a few oligarchs who seem to have all the power. and even at the time when we're talking about how much power they have, and how about it is and they keep getting more and more power,
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we're going to have to leave it right there. boom bus, spend one. thank you for your time and insight. thank you. the markets are mixed this week as investors continue to keep an eye on the state of the economic recovery. let's start in russia where the mo act is up sitting at record highs after gaining more than 2 and a half percent for the week in july rushes economy grew by 4.7 percent year over year. the economy ministry announced wednesday after growth of nearly 9 percent in june. meanwhile, the rule is sitting near one much higher for the nations golden foreign currency reserves rose to a record of $615000000000.00. after a recent transfer from the international monetary fund, let's move to asian markets. the shanghai composite is also up getting 1.3 percent on the week. president shooting pain, said the nation plan to set up a new beijing base exchange with it focused on service oriented and innovative
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business. there was no timeline for when this will be established because it's are most of the gained earlier in the week. and a report release today showed chinese factory activity, growth flowing in august. in hong kong, the hung song is up gaining just shy of 2 percent on the week following a lot of the trends that we are seeing in shanghai now amid regulatory scrutiny. tech stocks are rebounding from their lowes in mid august up 15 percent since then seen the longest winning streak in more than 2 months in japan. we have a green arrow for the nico getting 4.5 percent on the week with more than 2 percent coming on friday, climbing to the highest level in 2 or even 30 years. the announced the resignation of prime minister suga increased investors sentiment something to keep an eye on though in japan, a bank of japan board member warned thursday that the economic toll of the pandemic could last longer than initially expected in india. the sand sacks is more than 2
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and a half percent on the week. indian shares are sitting at record highs on friday. the blue chip nifty, not its best weeks since february conglomerate, rely of industries was on the top one of the top performers gaining nearly 6 percent on the weak hitting records of its own on friday at close, as the company has been thriving since the academy reopen. in june, moving to australia, we have a green arrow for the s x, but by less than half a percent for the week the i show you our statistics on wednesday. so the academy grew by point 7 percent for the june quarter, barely avoiding a recession. but growth was flowing as the number of cases, the delta vary, trend up worldwide, and we have our 1st red arrow for the week. for the all share in south africa, the index fell to close out the week as it kept an eye on economic data throughout the rest of the world after riots rock to the economy in july private sector activities stabilized in august at just about even now let's go over to rachel for
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more on europe in the americas. thanks, brent. here we start in the u. k. where the 50 is up. this is my boy is data showing that while the recovery is still ongoing, is slowed more than expected last month, indicating the staffing and supply chain shortages are taking a toll on the u. k. the economy. now nearby the german taxes in the red, while the french cack finish the week in the green. europe's economy is expected to grow 2.2 percent this quarter with us market predicting the block will return to pre pandemic levels by the end of the year. but while fears of the delta barriers were all around, it was the ongoing supply chain shortage, the impact of the economy the most last month and across the atlantic and brazil, the ego of us is down. we are seeing the full impact of a 2nd wave of cobra, 1900 on the country. the latest data shows brazil's economy contract is slightly between april and june, with gdp falling point one percent. but officials continue to expect brazil to see
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growth of more than 5 percent for the year. and over in mexico. b and b is down on this as crude oil production in the gulf took a hit this we as production was cut in 91 percent early on in preparation for hurricane ida. mexico was also implementing some major changes to its welfare programs, with the government increasing spending by 20 percent moving forward. and here in the united states, the dow is in the red while the nasdaq and the s m p finish the week in the green. not to say that the latest jobs report was disappointing would be an understatement . as the labor department revealed that non farm payrolls increased by just 2 135000 august, despite expectations of 720000. now questions remain as to whether the report will impact the fed timeline for recovery. and finally, in canada, the ts sex is up, the index was carried by gains in the industrial sector with railroad stocks.
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jumping as much as 4 percent after kansas city southern and said it would reconsider a buyout from canadian pacific for $25000000000.00. moving into next week, we will continue to monitor the state of stopping and supply chain shortages and their impact on the global recovery started up for a quick break, but when we come back, the semiconductor chip short is continued to make waived across the globe. and several major players in the auto industry have been forced to steal back operation . and as we go to break here, the numbers at the close the the me
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when i would show the wrong one. 0, just don't hold the world yet to shape out the thing because after an engagement equal betrayal, when so many find themselves well deploring, we choose to look for common ground. it's all about proximity. and as we talked about before, the can tell an effect if you're close to the central bank, you get the money 1st and you get to put it into things like assets and then as a money works its way through the economy. those assets go up a lot and this is how the want and income gap is created. the war on drugs started as a way to come back, a great problem. what's the one?
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it's part of the attitude of the nation, not just of north dakota, and it got to be something that you could get elected. this time, the fight against drugs took a check and told us that there was a competence short form. this is way too dangerous for him to be doing. clearly they put him in harm's way. a rural college student does interest get shot in the head and found in a river like something else had to be happening with this is your media, a reflection of reality in a world transformed what will make you feel safe for tyson lation community?
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are you going the right way or are you being direct? what is truth? what is faith in the world corrupted? you need to defend the so join us in the depths will remain in the shallows ah, in the welcome back. the global chip shortage is continuing to take a toll on the auto industry of sport. in general, motors have announced plans to scale back production amid the supply chain issue g . m will be idling nearly all of its north american assembly plant. starting on monday, a handful of facilities producing full size that you heavy duty pick up and corvette income, the camaro will remain operational operation. no,
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for the time being for it will be rolling back production at many of its plans, which includes reducing number of shifts operating assembly live. as we have mentioned recently, the semiconductor shortage has taken a toll on the auto industry. as the crucial chips are using components such as airbags and touch screen displays and pretty much every other portion of a vehicle, ford recently reported new vehicle sales in august decline by nearly a 3rd due to the shortage. and this begs the question, how long can the situation affect the auto industry? so discuss, let's bring in lauren fixed the car, coach. lauren, always the pleasure to have you on the program. i mean, how much will scaling back production actually affect the bottom line for the board of g m. after we've already seen for sale down and for august. oh, you're going to see a huge impact to the auto industry. i ran into an executive toyota. the other day, and i was speaking to them about their situation and they're doing the best of all of the brands and even everything we're getting about a 1000000 cars
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a month. that's, that means you're talking about 12 to 13000000 and sales to give you an idea. last year was 17100000. then we had a huge demand after coven production start renting back up. and they were calling for demand of highs, 18000000 light trucks and cars. that's huge, that's the biggest we've had in decades. but the problem with this is, if there is no chips, there's no cars being produced. and this is exactly where we are now from the impact is huge. it's going to affect jobs going to affect the economy and all the sub suppliers that make components. for example, tire companies, electronics companies, safety equipment companies. because if they're not producing, even if they can produce, there's one of those companies that can't. and so that affects the total sales of automobiles. now we know that this shortage isn't anything new. i mean, it feels like we've been talking about the supply chain disruption for quite a while now. so is there any end in sight for the auto industry specifically? well, that's a hard part if you and i together decided we're going to start
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a chip company where the 3 of us trying to get together in a created chip company from this moment of deciding to do it to actually producing chips that we could use for production of anything, we're looking at a 3 year window. the problem with that is it's too long and at that point there's other people in the marketplace. so we know it won't be that long for companies that used to produce chips to get ramped back up. it's about a 9 month window, so probably looking into 2022 now and they keep pushing it forward. the problem is the ceramics that come on the boards, if you've ever taken apart a computer or seen inside of a television, you see those green boards. that's all ceramics that comes out of another ones. that's not the problem. the metals come out of china. that's where the problem is, and there are companies that are 40 new ships and they're increasing the prices and their research seeing them intentionally in order to increase the prices. and this is putting a real squeeze on the whole world and all of global sales. and you just mentioned a point that i wanted to bring up next because earlier in august,
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china's anti trust regulators, lots investigation into car chip distributors who allegedly are hoarding the much needed semiconductor. so what exactly is going on there? and is this actually exasperating the problem? is it actually exasperating the problem? so if you have a supply and demand, the demand of high cars want to be produced with whatever component because you may think it's just the screens, but it could be a safety system like any like breaks it could be the chip that's used in a key bob should get companies like condo shipping, their vehicles with one key fob will ship you the other one we can, or general motors saying, you know, we're going to take out that start stop technology and no wireless charging. we're seeing a lot of the higher luxury brands no longer putting in those big screens because they use so many chips. you're talking about thousands of them per car. so i mean with that type of situation. what's the, what's the holdup everyone's doing? what's the hold it is trying to will release the metals and we have the ceramics, why are we not producing these? it's because those that are producing and those are middleman are the ones that are
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making the money by reducing the supply to increase the price. okay, all right, well thank you for breaking it all down for us. all right, now i also want to bring up the used cars here because last month some analysts believed used car prices would start to fall after being up due to a lack of supply. do these continuing ship issues point to prices continuing to stay high as well? prices are out of this world. if you've got a secondary car that you're not using or a 3rd car, you think, you know, it's thinking about getting rid of it. now the time to sell, it is not the time to buy. to give you an idea, average sales are up between 34 and 45 percent. corvettes in sports. cars are literally, you can even touch them. if you're looking at a portion and you decide you want to go buy a $911.00, you'll be paying $30000.00 to $40000.00 over sticker right now. you can get them, and those that are coming in again, supply and demand is all. i cannot mix one on one. so sports cars are high, luxury cars are high, but even daily drivers, a minivan, or a little sit in. we think all the sales are and that big sedans can't get them. so
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the supplies high used car market is on fire. it's absolutely crazy. the parts of the economy post pandemic, or if you want to consider what we are post pandemic that are still going crazy. lauren fix the car coach. thank you so much for bringing all this down for today. thank you. and finally, if you have visited a mcdonalds and we told you can't order a mac flurry because the ice cream machine is broken, you're not alone. the running joke about why the machines always seem to be down has now coffee attention of the federal trade commission. that's right. the wall street journal is reporting that the s t c is on the case with officials reaching out to ask the company why their ice cream machine keep breaking down. owners have said this is actually a real problem and it stems from the complicated heat cleaning cycle that is required for the machines each night when the process doesn't fully work, they have to call in a repair technician. however,
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mcdonalds has actually denied the report with the company saying it is working to streamline the process, but it isn't under tc investigation just yet. i've been to many a mcdonald's in my life, and i have to say, i think the to see if they aren't on this case. they certainly need to make sure this wall street or a bar is correct, or just trying to get our met them for the time. you get boom bus on demand on the portable tv app available on smartphones and tablets. 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 at portable dot tv will see you next. me. ah, ah, i cant rec drugs are essentials and millions of patients. or are they,
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they want that pill that they hope will take care of their problem thoroughly and rapidly in the short term they really work. the problem is, in the long term, they're mostly disastrous. suddenly stopping a drug can cause withdrawal symptoms more serious than the condition it was meant treat instead of the beneficial effects of these different medicines ending up to something wonderful. very often they're harmful effects and up to something terrible. can pills so of all ills? or are we trying to mitigate life itself? i just think i was like i was just scared, scared, little girl of 24. and like me didn't have to be so complicated. the news
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the family with mark sounds good. i took my new function. you got a good idea to do all you i'm done. got. i've got that limit and i wanted them to go back to
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the one above above the me the taliban celebrates, taking full control over. done is done after declaring its defeats the remnants of the resistance to taliban fight and saying they still hold part of the eastern time . she had also become a convicted rapist, suspected terrorists discovered among style and germany from afghanistan, destroyer in the new bill. the liars authorities access the internet to the devices of any body under investigation. we debate the cause of.

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