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tv   Boom Bust  RT  October 14, 2021 8:30pm-9:00pm EDT

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process, what can you tell us about that? i mean, i certainly, well, there's a shift for renewable energy and basically every single sector. but the big one mining industry really takes the cake and it's really the main driver of the ship. simply because energy is the biggest and most expensive input. so naturally the miners are motivated to drive that costs. other industries that we have in the states like manufacturing, they're all very energy intensive, but they have less of an incentive because they have other costs, like metals lumbers, feel labor, etc, that are bigger, that they're more focused on. but with big point miners, they're really motivated to buy the cheapest sources of energy available and they can basically relocate anywhere in the world to get it. for sources energy are getting progressively cheaper and will soon out match thermal energy on cost. and then on top of that, you also have player gas mitigation, which is a complete waste right now. but that can actually be turned into usable power. today, there are a number of companies to play assets in the flared gas mitigation space, where methane gets plans usually being inefficient and being
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a complete waste. but what mine is doing that is capture that natural gas pipe it into a generator and use that energy to power point mine and so and makes it a more controlled burn and also reduce emissions. so contrary to what must said earlier this year, because mining is wholly consistent with the goals of environmentalists in the us, monetizing hydro and nuclear, when the grid is not the buyer. and also pushing the cation of other assets like for. and when you know shocking that your mouth isn't on top of that, and of course the media is not really talking about it. but i know geoffrey, whenever we're coming to the story of minors being forced out of china, why do you see that they're coming to the united states and where specifically in the u. s. are they had it? well, you know, chris makes a great point that the driving force or is economics, which is very interesting because, you know it, 3 years ago when, when, when i became mine it was 74 percent located in china. you know,
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the line was that big coins, controlled by china, and china is going to rule the crypto sphere forever. but kristy makes a point that the net, well not so much, right. so we've already seen that a proven that, that, you know, they're going to go to where the economics is not where the politics is. and you know, my, my concern slightly is that i'm afraid some of these chinese crypto miners might be a little naive about the rest a situation. they're looking at taxes and seeing that as a kind of a perfect land of freedom and, and to the top place is destination. so crypt mine is right now south, south dakota and texas, which, which i think is interesting because they're now widely seen to be some of the lease locked down free lease mandate free places in the world. and, and that's partially, i think, what's drive, not just lower energy cost, but the anticipation that there be fewer crackdowns on crypto mining on these $2.00 states. i'm so that's why they're attracting the attention. but i, i was
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a little alarmed to see a story from june and, and the washington post recording was kept reminders the same. the u. s. has a capital a system de, they'll never restrict a big claim because that's a u. s. believes in freedom unlike china. well, that's a little bit, i would say like sliding knife because i'm not entirely sure that that's true, but it is also apparently of the case based on capital flows that the rest of the most crypto friendly one of the most crypto mining friendly places in the world right now, well and there still are a lot of questions about what the us government is going to do. we're rather going to try to do when it comes to these regulations. now jeffrey, staying with you, we've heard from the bank of england's deputy governor, fight for financial state. plenty. he warned that crypto currencies cause spark a global financial crisis unless tough regulations are introduced. why do you think he's making that claim? so way viewers need to recognize is that the driving up political of
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a power behind regulation right now is the government's all over the world. and i don't care if it's a china war or the u. k. or the west, or any government in latin america. the exception of loss have it, or is to basically nationalized crypto technology and, and making their own and invent their own criptos and drive away the, the private a crypto sector that's, that's what's, that's the push here right there, especially enjoyed by this table coins, which are performing all the functions of central banks and banks in general. and they, they really want to get rid of them entirely and, and, and basically take all their functionality into the banking system. innovate enough, so the people are, will bail out of the stable kinds. and if that doesn't work, you can start using force so that you can, you can hear by all the stuff about financial instability and blah, blah, blah. and they all say the same nonsense but, but the driving force is,
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is really the government to the world want to take crypto technology block chain technology for themselves. we have to make sure that the monetary monopolies, the governments of traditionally own for era what 6000 years, whatever is not going to be finally privatized in the crypto hands. yeah. that will, that, that's what's really behind that. that is, the goal here is certainly christy, about 30 seconds left here, but i, i want to come full circle, right? because everything we're talking about from the regulation to e long must to the treasury secretary, jana yellen, right? everyone wants to bash bitcoin and in any way they can, and they typically like to do with, with this kind of pie in the sky. environmental concern, that's very hard to really pin down what exactly is the specific concern. they're not talking about the fact that big coin is actually making revolutionary steps forward. i'll give you the last word here. yeah, exactly, because mine i'm basically just purchase whatever energies cheaper, whether that's fall fuel or right now. heavily subsidized renewable in fact, 76 percent of proof of work. myers actually use renewable energy as part of their
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fuel mix. and right now you see hydro nuclear pretty a huge power, especially a night when the grid is less demanding than minors, they can actually monetize this renewable asset because they can wine at night. otherwise the pipe would be just dumping into the ground because let's not forget, this is the oil you can to stored in the yes, you can sort a battery. where are these gigantic batteries? we don't have them. so a lot of energy is actually just getting dumped into the ground. what now you have minus and to me and the net effect is that renewable become more economical. that's how we do it. cutting through spin boom bus, christy i and jeffrey tucker of the brownstone institute. thanks guys, by an administration says it has plans to address the ongoing issues with the supply chain that have led to dozens of cargo ships waiting outside of ports and los angeles, while hundreds of thousands of containers wait to be picked up from those fords and transported to their destination, but well, those plans actually make a difference and will it happen in time for the upcoming holiday season?
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well, logistics experts, economists and labor unions like are already warning that president biden's promise of 247 operation won't be enough to take on the backlogs that have been months in the making. even if certain restrictions are lifted, the nation continues to face a shortage of truck drivers and warehouse workers. a problem that has only been made worse by the pandemic, as well as the massive increase in online shopping. while president biden refused to take questions following wednesdays announcement press secretary, jim saki says they can make no guarantee that these problems will be fully addressed in time for the holidays, and that it won't get better or won't get worse, rather before it gets better. i'm not going to make a prediction of that from here. we, there are a number of issues that impact the supply chain. and i, i don't want to make a prediction because it's not just one issue. certainly increasing the capacity at courts at add ports, not courts at ports, and increasing the number of hours we'll have
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a positive impact. there's no question about that, but there are other issues that impact the global supply chain learning as now. this gas is david mcelhanney, theo, of mac of any financial group. now, david, when it comes to biden's latest plan to address the supply chain backlogs, the response seems to be from many that it's too little, too late with the holiday season. quickly approaching. why do you think the administration is choosing now as the time to take some sort of action? so biden says he's been working on the problem for 5 months, and the best solution you can come up with is run the ports 247, expand overtime. that's genius, that's the kind of creative problem solving you expect from the white house. and you can see why with all the inherent complexity in that solution and the problem that it would take. so long action now that is, is required, they have to peer to be doing something. poll numbers continue to drift lower for the president and sitting idly by doesn't help the party in the mid terms next year
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. as if said, on your show and previous months, inflation, not transitory, will continue to increase political pressure on the democrats coming in to 2022, a 70. keep an eye on watch, gold and silver over the next 6 months, inflation was not going to be a concern. after c, p i, and those figures appeared to peak a few months ago, except inflation had not piqued and the equity in bond markets are not prepared for a long term battle stagflation. so, and it is of other market concerns here, and the ports in the supply chain issues are shining, a light on certainly increased costs from at least another another saw as another cause. yeah, let's, let's talk some about this issue of, of gas prices as well. right? is another huge probably administrations facing which they also see to pretend that suddenly came along yesterday, right? we been paying much higher prices at the pump now for months. and yet suddenly the by the administration wants to put pressure on top oil and gas producers. they say to actually increase the outflow to bring down those prices. number one,
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can they really get that done? and number 2, we'll, we had $2.00 gas a year ago. it's not like it was in the distant past. and so it was the policies of this administration that caused those prices to go up. why are they now putting it back on the, on the private market to fix their problem? i agree with you. you know, i think there's no effect coming. you might recall, we talked on this program about the white house pressure on opec a few weeks ago, and particularly the saudis, their ability to bump supplies in order to comprising fuel costs. how that work out . and i think at the time our thinking was opec 1st, the white house wouldn't go to the u. s. oil industry for help because it tarnishes the green credentials of the administration. de carpenters ation electrification of the current mo, but inflation is getting ugly and the administration now reaching out to you as soil producers for relief. i think that underscores the political cost occurring to democrats at you can almost hear the voice of the middle class as you certainly did at the nascar race recently. brandon is signaling discontent,
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and i think you're hearing that echo of brandon and the cheer for brandon as people are paying ever increasing costs across the board. and i guess i would say one quick thing about the let's go brandon thing, right. i think there is something significant about that that's getting missed by media, right. which is that it does stand out as not just a anthem, if you will, against the administration, but also to the fact that you have a media class that refused to acknowledge these very real problems. and people are saying they feel gas lit by the media, and i think that's about part of this. also in a goes back to gas prices, it goes back to inflation. it goes back to the fact of the cost of meat or products in the store are so expensive, and now we're headed into the holidays and everyone is acting like i believe it was the white house chief of staff who tweeted out today essentially that this is a rich person problem, right? high net worth individuals. this is their problem. no, it's not. if you can afford gasoline and food right now in groceries, it is a middle class, it is a low income problem as well. that's right. so political analysts and socio
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allergies should be accurately taking note and saying, what does this mean? what is this expressing? and that's why i say it's just a, it's an expression of middle class discontent because they're the ones who are feeling the greatest pain. inflation inflicts those inflicts attacks on those who have less, not those who have more, they feel the most, most pain and that, and then i can honestly say that the 1st time, bad by reference mention on this show. but it, there have been great insight as always, even makeover any. thank you so much for your time. always. and over and australia, top officials are promising to take on big tech in order to go after what they described as abusive content circulating on social media. although it's not clear yet exactly what that will look like, but communications minister, paul, what your says, they are reviewing their defamation laws and considering a whole range of ways to take action. this comes after australia is highest court
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ruled last month. the individual media outlets could be held liable for the comments posted by members of the public on their facebook pages. prime minister scott morrison has also called for social media platforms to be treated as publishers, saying they have become what he referred to as a coward palace, where people can say anything they want to with no consequences. they should have to identify who they are. and you know, the companies, if they're not going to say who they are, what they're not a platform anymore, they're a publisher, their publisher, and you know what the implications of that means in terms of those issues. you know, i can't help but to think of the last time that australia tried to take on facebook when it came to paying local media outlets and facebook shut down until they got at least most of their way where that was concern. yeah, absolutely. i have a lot of power here, and remember that this is a very controversial decision when it came to the local news stations being forced
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to take responsibility for what comp posted on their site. because facebook wasn't held accountable for that. it seems to be, especially with facebook, that a lot of the policies that surround them are all over the map. it's very difficult to tell where they're going to be held accountable and where they're not. and even the distinction between publisher and platform seems to be awfully blurred too much of the time frame. it's one thing to say, and it's another thing to actually take action where i was concerned, certainly as time now for a quick break. but when we come back more than 100000 union workers, they are threatening to strike across the country. we're going to talk about why so many are taken to the picket line next. and as we go to break, here are the numbers at the clothes with a beautiful job ocean, worcester, on what it says. i'm middle august aust. a noise to utilize
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a freshman which don't don't love. would you like that? that would, because if that's something you would preview them with the cool, got estimates for me to send over your properties was for what's in the but on with that sort of like you like with nice. seems to them often when he's got the west. when, according so we'll do some post them for phillip keeps coming from from the news. all kind of the stuff that the same i was given your cisco web logo slave to me as i will continue to one of the schedules go to live with john through it. but our bun, why didn't pretty good us them. i mean,
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on i visits and we still do ah ah on the surgeon's tactile perception as well as his or her i saw it helps
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a lot because you need to make sure you don't like the thread. well, placing the switches and robotic hands can't do that. not now, and i believe not ever. you can write software to the machine, but you cannot give it a human tactile perception. ah, but also for the most basic book, but i still believe we did who bought a book dialed from our company pretty than you know, quite by that i know from politicians to athletes and movies. does the musicals, does it seems every big name in the world has been here that your group of ms. you can look up is what i see below. oh, what do i see in budget when you get the course? but i need to finish with what does not give me a global new sport. but she said basil makes dreams. come true that every one who
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falls in love with people threatening laquata ah ah, just look back. new numbers are alfred jobless claims and they would seem to indicate some good news. new application for unemployment benefits declined to about 2 193000 last week from 329008 week earlier. the labor department says this is the 1st week since the coven 19 pandemic began in march of 2020. that jobless claims fell below 300000. this also indicates that the number of people receiving unemployment benefits also fell to the lowest level since march of 2020. the only problem with all these numbers is that lower unemployment numbers don't actually indicate how many people are out of work. they only represent those who have
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recently lost jobs or are receiving unemployment payments because they don't represent those who have stopped looking for work. more than a 100000 workers across the u. s. in various industries are threatening to strike over work conditions and pay. these are 100000 unionized employees and they range from 60000 hollywood production crew members 210000 john deere factory workers, even 38000 kaiser permanente nurses, all of whom have overwhelmingly voted to authorized strikes and are preparing to join picket lines unless they get stronger collective bargaining agreements give in mind. thousands of workers are already on strike, including 2000 new york hospital workers, 700 massachusetts nurses and 1400 kellogg plant workers in michigan, nebraska, pennsylvania, and tennessee. so what does this mean for the ongoing shortage of workers across the country and will it lead to any meaningful changes for those frontline employees who have shaped the workforce during the pandemic? but joining us out of this guy has been best friends for who is on a simon in las vegas ran. it's great to have you back on the show today,
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and i know we're seeing a movement breaking out across the industry. so what is it about working conditions over the last year that had brought so many different groups to the point and actually going on strike? well, i mean, you obviously know that we've talked about this workers shortage over the last several months, maybe even a year. and the fact that we talk a lot about it in the services industry in restaurants, but it's really basic, all industries that been mentioned, the kaiser permanente and nurses who are going to strike in california in oregon area. if you remember, as we had a panoramic, they're facing longer hours, they are having less time off, less chance to recuperate. and really it's a lot about burn out. also, something you have to keep in mind is how organized labor is handling this. because there is so much focus on labor shortages, working conditions. they're taking advantage of that. and if you've ever worked with organized labor or covered with movement, you know that despite being all over in several different sectors,
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the reality is they are a very tight knit group. so what they're seeing is an opportunity to capitalize as they work together. now i'm not saying that they're actually making a coordinated effort all at the same time. i'm just saying as what happens, a lot times they will see and say, okay, we can make a movement. we can do this as well. and union membership in the united states has dropped considerably in 198320 percent of the workforce was union. it now in 2020 about 10 percent. but something to keep in mind as these workers shortage is that continued, as you know, there is more concern about the way the working conditions are working. more interest is going on in the labor union, 77 percent. according to a new new gallup poll of people 18 to 20 or 34. that is to say, they are now interested in joining an organized labor movement. that's been pretty interesting. hollywood. they're facing. what could be the biggest strike of world war 2? we mentioned that union crew members are threatening to walk out on monday if they
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are guaranteed improve working conditions. britain, this is kind of been a fight, i guess years in the making now. but how is the reason, the shortage of workers impact that those who are carry more weight than ever, i mean, keep in mind with all the streaming wars that are out there right now, it seems like hollywood is to turn out as many productions as possible as quickly as possible. well, that was a very interesting point that you made there been because the fact it is hollywood with, you know, netflix, hulu, and the multitude of other streaming services. they're producing more content than ever before. and as you said, this is the worst. could be the worst strike is world war 2, but you have to remember just about 12 years ago, 13 years ago we had that big writers strike which really affected content. so we could see similar impacts. but the fact is, it's, you know, again, it's a lot about working conditions when you're working long hours because there's less people available and more content. i mean, this is a supply and demand issue. if you think about it more than anything, and they're really saying that one of the big fact that, you know,
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they're not getting enough chances to sleep enough breaks out there. and the fact that, you know, companies like netflix, as they're producing more content, they're also, you know, not paying the employees and giving them the benefits that maybe a major motion picture might have. so these are all concerns that are going on in that industry. and let me tell you, you know, that's going to upset people if you start seeing less content being produced by hollywood. yeah. oh, absolutely. now speaking of the pay, we're also hearing the more than 10000 members from the united auto workers union began their strike against john deere on thursday over a breakdown of negotiation. now the big thing here is that they argued that a 5 percent raise wasn't enough given skyrocketing inflation. so how has the increased prices that americans are being forced to pay really all across the board right now? playing a role and what they're asking for when it comes to their salary. well, you know, here's an interesting inflationary point is one of their main concerns. one of the main bargaining points that they made when they actually turn down that 5 to 6
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percent immediate res was they said yeah, but john deere, planning on making $6000000000.00 in profit this year, they could definitely pass that down to the worker for sure. so that's one to look at, but, you know, i mean inflation as we've talked about on their show time and time again affects everybody down the line. and when the workers are making the same pay and inflation is expected to continue to rise. you know, as we go throughout the year next year, they're saying, hey, you know, you're $5.00 to $6.00 points when you're looking at the fact that we're going to make, or you're going to make a 6000000 dollar profit. that's just not enough for us because we feel it in our wallets. we feel that when we have to buy good, you know, you can raise the price on tractors, you can make more money. but the fact of the matter is, is we're going to have to pay more money for everything that's out there. and all too often the cost get passed off to the consumers. they co, long boom bus friends bore. thank you so much for your time and insight on this one . thank you. well,
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you might have noticed that coin base has been trending on twitter. there's good reason for that coin base is getting ready to launch. it's in f t platform and they already have more than 1000000 sign ups, in fact, coin base, open up the wait list via a blog post announcing its upcoming in f t platform. it's slated to launch later this year. the platform is doug, get this coin base in f t. yeah, it's kind of says what it is. it will initially support the theory and based open standards with plans to expand support to other blog chains in the future. currently, there are almost 1100000 people waiting for early access to that enough to platform creating a quote insane amount of traffic for the wait list, that temporarily broke coin basis site. i mean could us and then they got on top of the and if he, you know, crazy has been going on. they got a really easy name for people to fall in on the question of the, the actually going to be able to follow through and make it happen. well, i think they will look enough teeth being sold on a platform like when based totally makes sense. as for this time, you can catch boom bus on demand on the portable tv app,
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which is available on smartphones and tablets through the google play and the apple app store. by searching portable tv portables can also be downloaded on samsung smart tv, then roku devices, or simply check it out at portable dot tv. well see you next time. blue with with these people learn from their own experience. how vulnerable of business is to the bank. so you push my business over the age, pushes me right to the edge, bankruptcy. now i realize we will group, this isn't just the back that it may be involved in this is the concept. see,
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firms is, is the lawyers, these people have got you want all this stories? ottawa kind of whistle blower. tell people's marriages have broken up. it lost their family homes and it is spectacularly devastating for people's lives. we have committed suicide, but left behind norwich, the explicitly state that it was the constant intimidation and billing by buying coffee sauce that led them to i took the spear it's obscene, these people up nor saw oh, when i was shown the wrong one, i just don't know, i mean, you have to shape out the same because the african and engagement equals betrayal. when so many find themselves worlds apart,
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we choose to look for common ground o veto scheduled ocean with on what it says i mid august will still it'll cover the initial openly to leave you with fresh, which don't, don't love. would you think that that would because if that's something you would prevent them with the cool got that's nice for me to send over your properties was for what fin the but on with what that sort of look like you with nice seems to them of them when he's got the west, when not going to want to show up for phillips come from from the news or kind of
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what the stuff that the thing monthly media says global. oh gosh. slippery music senior to one wonderful, scared little squiggly. ah, john creech, if it but our one. why do you think that us them, i mean, on i, besides and we still live do when europe is mentioned to what do you think a place an idea, a common place with diverging ideas? maybe you think of the european union, think what you wish, but europe is in crisis. it must choose between being an ideological construct or a place with real people. and real me a
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police in norway, you say the po and around page that code 5 and cons, bud appears to be a tower. sometimes i think that the suspect had converted to islam and was previously flagged over signs of declines. zation also had a at least 6 people reported killed and dozens wounded in beirut. of the gunman opened fire as a protest over the investigation into lost his deadly port explosion. dom do they do damned if they don't? australian police bear the brunt of public anger and government tactics to watch of anti lockdown activities.


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