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tv   Boom Bust  RT  October 27, 2021 3:30am-4:01am EDT

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ah, this is boom bugs, one visit show you care to coordinate our brand new board. and i'm rachel london's in washington and counting out for now one week away from the federal reserve november meeting. so can we expect the long awaited start to tapering bond purchases and how will the ongoing supply shortages play a role we'll discuss plas past lot has now entered and exclusive tier of us businesses. as the evie giant has their pass, a $1000000.00 valuation will bring you the latest on what push the auto renew the auto company rather past that mark. and later microsoft, those hackers have been attacking critical i t supply chain. we to the bottom. what's happening and what effect it may have a lot to get to. let's get started. we leave the program with the latest from the federal reserve as the country awaits next week's policy meeting. jeremy jerome
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paul is indicating that we will finally get the official announcement of plans to start tapering. bond purchase at that figure of $120000000000.00 per month is expected to drop by $15000000000.00 a month until it is phased out of june. june of next year, but while powell says, he believes that it is time to taper. he said, he doesn't think it's time to raises ultra low interest rates just yet. he has also joined treasury secretary, janet yellen in defending the feds policies while admitting that inflation isn't quite as transitory as they have been claiming it would be for the last year. so what else can we expect and could the ongoing supply chain shortages impact the feds timeline? we're getting us out of this galaxy martino booth, former fed insider and ceo of quill intelligence. danielle is great. have you on the show today. now we've all been talking about how the fed is expected to start tapering. bond purchases by around $15000000000.00 per month. but given everything
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from inflation to supply shortages to the energy crunch, what would it take to impact the current timeline? well, i think you would have to see quite a bit in the way of economic destruction really. and a lot of it's also going to be contingent upon who is going to be in fed leadership here, which we should know within, within a matter of weeks or months, it's been drawn out for too long by the administration as it is. but i think in the near term, really it's going to be how many headlines are generated, how difficult it is to do holiday shopping, how margins are being impacted. we only have true of the 11 sectors in the standard and poors, $500.00 that have announced that they're going to be increasing their earnings expectations. so the sign poster started to become evident that we might be flirting with an earnings recession because companies margins are being so squeezed, not just by rising input costs, but also by unforeseen,
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unprecedented shipping and freight costs and delays. so there's a lot going on. i'm not so sure that all of these disruptions will necessarily be resolved by june of next year. electricity prices are really a linchpin here and as. d as we've been saying, and we hear all the time winter's coming. so there are a lot of variables that could put the put pressure on the fed to go straight from tapering to raising interest rates, which it's clear, powell and yellow. and as you say, don't want to do data when it comes to inflation, the fed keeps kind of pushing back the prediction for just how long we will see that rise. i mean, obviously they've said it's transitory but it feels like it's been transitory print least 9 months now. i almost feel like that's a trend. but at this point, is there much the fed can even do beyond what you just mentioned, especially when we are dealing with the supply and energy shortages that are out of their control. there is not really and there are,
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there are many other things that are also out of out of the feds control that deal with fiscal spending, or i should say the lack of fiscal spending the fact that headed into the holiday season. we had a report out from deloitte last week that said that lower income americans were planning on spending 22 percent less the holiday season, while upper income americans were planning on spending 15 percent more this holiday season. so you see this, so this, the so called case shaped economy continue at but, but by the same token, we're seeing sign posts at the u. s. economy blowing without that next injection of fiscal spending. and i don't refer to an infrastructure bill that's may be drawn out over 10 years or so. that's not going to do a lot to lift consumer spending in the short term in the same way that the 1st 3 stimulus checks did. which also, by the way, resulted in the inflation in many ways that we're talking about today. it is, you know, i want to talk about this because when you talk about lower income americans and they're going to spend last, when it comes into the crucial holiday season for business. you know,
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we often talk about the transitory nation nature of inflation and how, you know, prices are going up. but essentially, all they're saying is prices will stop going up. i mean, is this going to have a lasting impact because those prices never come back down to where they were even, you know, a year and a half ago prepared demik. it's the situation right now for your average us household. it's very difficult. rents are increasing by 10 percent filling up at the gas pump is very expensive. we know that heating bills are going to be rising. we know that every time americans step into the grocery store, they are aware of the fact that they're paying more for food. so budget are being severely constrained and hampered by this inflation. and it's very difficult to say whether or not there are, are appropriate tools in the fed toolbox to address what is happening with a, with a slowing economy. and as you say, a sticky form of inflation that's not, doesn't appear to be going away anytime soon. now, when it comes to, you know,
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those lower income america is, is there some kind of disconnect there? because it seems like whenever the fed is talking, when they're saying that inflation is just going to be transitory. they're speaking to the markets, they're trying to make all of the investors know that everything's going to be ok, at least according to the fed. but i mean, for the average american who may not be investing in the stock market yet, at the same time, they're watching their grocery bill skyrocket. what does that mean for them? i mean, is that something that seems to be even on the feds radar right now? you would hope that it would be on the feds radar because the fed primary mandate is indeed minimizing inflation. in your correct 45 percent of americans do not own any stocks at all. in fact, the majority of stocks are concentrated in the hands of very few americans, a very small percentage. and you would hope that the fed would see its policy is very damaging to nearly half of the american public that is not on the receiving end of the liquidity that the fed has been pumping into the markets. and in fact,
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is indeed suffering these higher prices. these are very real things. you know, i'm, i'm at the grocery store. i see that a gallon of gas and a dozen of eggs and a pound of beef. all of these prices have risen. these are very front and center to your average working american. and i think that that is going to be problematic. and i think more americans are identifying with the fact that it's the federal reserve that's driving this inflation and they should be more cognizant of the plight of the average us family versus maintain main, maintaining or propping up the stock market. and then i have 30 seconds left here, but i do have one more question for you because as we talk about what the fed doing and that impact on the economy right now, does this put into question j. paul's future as the chair when progresses have been pushing against him, being re nominated for that position. i think that that is certainly in question. in fact, a headline that, that came out right before the markets close brought markets down. that's what the biden administration is the most nervous about is that if they do switch away from
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powell, but the stock market is going to come down, there is the op and there's also the chance. and i think we should put this on our radar that there could be a 3rd candidate out there that we don't know anything about. and that was part of the headline this afternoon, that they're not just considering powell or brainer. so it's definitely something that your viewers should be watching very closely. former fed inside are danielle z martino booth. thank you so much for your time and insight on this one. thank you. and a big win for tesla on monday as the company has now had a market cap, a one trillion dollars. this after hurts announce that it will purchase $100000.00 vehicles from the world's largest electric car maker news that the deal brought tesla stock to end the day monday at $1024.00 a share. it moved slightly on tuesday, which means tesla. now joins microsoft, amazon, an apple in a very exclusive club. tesla founder ilan must tweeted out quite wild time,
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using characters to play on the one trillion dollar market cap. joining us to dig deeper into tesla's massive growth, our boom bus, co host, christy, and ben swat. christy, i want to start with you on that. obviously the heard feel is huge, but just how huge is it for both tesla and hertz? i mean, it's a big deal and i feel like it's more of a big mess rather than anything affecting the bottom line of tesla because the order doesn't really change much for tests. it's basically just increasing. it's already big backlog of ordered by few months and a $100000.00 more vehicles tends a won't be able to produce or deliver more cars after because production is still very constrained. so the 1st news is possible because the signal, the change in the auto industry, not just because of the actual order itself, which is pretty standard. it will encourage more rental companies and other large managers to secure more orders and enable more people to try to help the vehicles
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when they get a rental, which will then help to convert those 2 additional sales for. so at the same time, kurt is also launching and marking him pain, featuring tom brady around the integration of them, all 3 in their fleet test and to gain a lot of free marketing from her through this new campaign. so the stock price is reflective of all the $5.00 benefits and positive sentiments around this name. but in terms of real differences and numbers added to the bottom line from the order that was only $4200000000.00, which is significant. but it really does not just so high. the fact that the stock added another couple $100000000.00 to now be worth over $2000000.00. now then, i mean, we can't talk about tesla without noting that it has had continued problems with itself, driving technology for their vehicles, with you on mass. now admitting that the technology has, is he referred to them issues, what do we know about that? yeah, well multiple 3, the now essentially saying that the 10.3 version of that. so pilot auto pilot
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technology is going to be rolled back the going back to the $10.00 version cuz you gotta work out some of the kings. but remember, this kind of been an ongoing problem for tesla, for some time they've been trying to push out this, this auto pilot technology. and remember, they're already been investigated by the national transportation safety board. the n t s b over claims that test misrepresented the full effect of what these actual auto pilot programs could do to say that the car is not fully automated. that people were believing because of things that you must have personally said as well as kind of the word that tests i had put out, that the actual feature was a self driving feature. and so people were doing stupid things like going to sleep in the car. what was driving there were ending up an accident. and so there's an investigation taking place there. but i think this is going to be a kind of a continued issues of test like in and of itself. obviously as chris is talking about, you guys are talking about is doing great, but they continue to push boundaries. and one of those boundaries as a law must is convinced of this idea of this auto pilot feature and self driving vehicle. that is not truly a self driving vehicle, at least it's,
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it still seems to be a long way off from that. one of the latest problems of their running into appears to be an issue with the auto pilot feature, not being able to recognize traffic lights properly. that's a big problem. it's all like a little tweak or a little issue. it's a very big issue. so we'll see how, how long it takes for them to work these things out. but i think he's pretty ella must. that is, is pretty determined to get to this self driving feature at some point. and i know it could be the greatest self driving car in the world, but the idea that people would fall asleep behind the wheel is still something i can't wrap my mind around. but now christie, at the same time, we're also learning that chinese electric cars start up ex bang released updates for it semi autonomous driving system as it looks to up its challenge to tesla and china. so at this point is expanding a threat to tesla's dominance? yes, it's going to be a big threat because x time just released as pilot $3.00, which is the latest version of their advanced driver program. and this will allow cars to simply change lane speed up slow down overpaid cars,
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essentially the exact same features as tesla. so competition is starting to heat up big time for this and then very increasing crowded market. exxon also launched new charter for their cars. the 5 minutes of charging the cars battery will have a range of 200 kilometers, which is about a 124 miles is compared with has the supercharger, which will do 200 miles, but in 15 minutes. so i also have a very aggressive pricing model for the latest p $5.00, starting at $24696.00 in comparison to tesla's model. 3 at $42000.00. now meal is also a very big competitor for catlin, china, and they're currently the leader in luxury. and while all 3 of them, they perform very similarly with the features and their technology. and there are a couple key differences neo is all in on their battery swapping technology. this allows owners to easily replace the battery. swapping them once they go dead or, or an upgrade, this has become the core of the business model. meanwhile,
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is considered by analysts to be the most tech centric and deployed what operated user interface and lighter lasers to scan the vehicle. rounding. meanwhile, test on the other hand, completely reject lidar with it on my colleague it expensive and redundant. and instead of using the camera around the car, so we will see how they're that play out for them in the future. but i got about 30 seconds left, but i mean, i want to come full circle here because ellen mosque is obviously the face of the electric car industry. but his own personal wealth has actually now surpassed the largest company in the fossil fuel industry. quickly. what does that tell us about the future? yeah, it does. it's the month was right about the future. right now obviously you've gotten a lot of help along the way. we talk about this before that he gets a lot of help obviously from, from the, you know, incentives that he's received government subsidies that he's received. tax credits, he's received, but the bottom line is his vision of an electric car future was right on. he's about $289000000000.00 for his personal worth. exxon mobil. 272000000000. exxon
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mobil, the largest in that fossil fuel industry. so, yeah, the future is bright for a guy who, 10 years ago was losing his hair. and now has a forehead pretty bad swan hope it doesn't have to you and chris the i you both for your time. and this back craze continued this way. the u. s. stock market as content creation cor, phase class has announced it will become a publicly traded firm medic, a $1000000000.00 initial evaluation in a 1st for the gaming collective. the group is i and a fundraising hall of nearly $300000000.00 to boost its online presence and endeavors. now, according to phase, the group has a reach of around 350000000 fans across all of the social media platforms. while the hyper on the listing is surrounded by optimism, not everyone is convinced with some journalists in the sphere calling it just that all high. i mean $1000000000.00. surely that, i mean there's been a lot about specs been said for, for many months,
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at least this year after the craze really picked up. but the fact is, i think that's, i mean, you know, as somebody who watch gaming content, i find it interesting to see some people who went from a traditional e sports brand to go into the content creation rout. signing deals with big major brands for sponsorship and moving forward. but i think it would be interesting to see what this happens. as we see, you know, you tubers, people who are, are tick tock them come together, create a collective like this and see if they might be able to go public and take a right to the source. absolutely, especially when you're talking about generations the getting them in on this, getting them interested will certainly be interesting to see where they go. a and if it is, in fact, all hype time now for a quick break, but when we come back to cyber attack, we'll continue to slam businesses. but what can we expect as the year goes on? we'll tell you all about the latest development. and as we go to break, here's is at the club. ah.
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with join me every thursday on the alex salmon? sure. i'll be speaking to guess what the what all the politics sport, business i'm show business. i'll see you then. ah, one of the worst ever mass shootings in america was in las vegas in 2017. the tragedy explodes a little of the real las vegas where many say elected officials are controlled by casino owners. the dank is shooting, revealed wet deal vm, pd really is. and now it's part of the stand machine. most of the american public
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barely remembers that it happens. that just shows you the power of money in las vegas. the powerful showed that true colors when the pandemic heard the most contagious contagion. there we've seen in decades, and then you have a mayor who doesn't care. so here is caroline goodman, offering the lives of the vegas residence. to re the control group, to the shiny facades conceal a deep indifference to the people. wives could have been saved if they were to take an action. absolutely, keep the registering and keep the slot machines. dinging vegas is a money machine, is a huge cash register that is ran by people who don't care about people's lives being lost. ah, if you want something done, right, do it yourself. the acronym d i y, i do it yourself, has now become the name for a new genre of online videos. we do, coupled with more than
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a year away. any family of herself built a deal at no one. you can't. the wasn't working with any more that up. so the book a deal it people use scrap materials and won't have is at hand to rig up all kinds of stuff from household items to pump action, squid guns, richer company for my freshman, longest of my fear. well, much more pool would still be the best part is people want to watch millions of viewers spend hours seeing how a person they've never met and who's half way around the world assembles a contraption. no one else needs to talk to a customer. right. so it's just more like when you money and you're looking at the future pushing, which is the
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welcome back cybersecurity experts at microsoft on monday worn. the hackers are targeting the global technology supply chain and the blog posts. tom birth, the tech giant, corporate vice president of customer security and trust said know, belly in the group behind the solar when cyber attack is attacking a different part of the supply chain. retailers and other technology service providers that customized deploy and manage cloud services and other technologies on behalf of their customers. microsoft as it's been tracking the cyber campaign since may of this year, and around $140.00 retailers and technology providers have been targeted by the group with 14 being compromised. bert said the company is working with government agencies in the u. s. in europe to deal with the recent string of attacks. so as this year has become synonymous with ransomware and other forms of cyber crime, what does an attack and critical infrastructure mean?
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well, to discuss, let's bring it. cybersecurity expert and president of dark intel. always pleasure to have you on the show, tad. i want to start with how exactly these hackers are trying to attack the so called i t supply to talk about it. well, if you look at what the supply chain is and what those hacks be, and it just means inserting some software or in a physical device member was on this show just couple years ago we were talking about chips being inserted into servers so that they can disrupt or monitor what's going on through that chain. they can stop it, they can control it, they can watch it. and so any time somebody put something in that chain that can move or change the things that we do for the supplies that we need. it's not a good day. now, oftentimes, i know when we're talking about these attacks, it's not just the initial portion that kind of goes on an effect, multiple different companies or different customers, whatever it may be. so what would be the negative impact of compromising these
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types of systems rather in a long term? well, longer, many short term, it's bad long term. it's even worse. but short term, we look at things like happened with colonial pipeline. what's happening right now and i ran where their gasoline stations can't provide gas because their system is down so it can be very catastrophic, very fast to a system. imagine having the gas pumps not work in the united states. the united states would be a mess for quite a while. so these kings can be very catastrophic, very quickly in long term. it's not going to change until we can figure out how to keep these people out. and that's a tough situation. and obviously we've talked about that many times on the show that that's a tough prospect is trying to figure out how to keep them out. do we know what these hackers are looking for at this point with these particular things? i know it seems like they're, they are just trying to try systems and that's what microsoft is essentially saying, correct? correct. and that's what they do. they're just looking for the weaknesses throughout
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all the different manufacturing bases throughout the united states and around the world. it's not just the u. s. they're attacking other places too. if you look online, you go in the dark web, you can see that they're attacking all kinds of different chains around the world. but you know, whatever we can do to stop them. we've got to start working on that, you know, congress passed a bill last week, bipartisan majority of everybody passed the bill to help deal with some of these issues and give us further assistance to try to solve these problems. now when it comes to microsoft, they're attributing this to the same hacker group behind the solar when the attack saying they use similar tactics. now, does every group leave their own specific trail, or do they all use different methods? what seems to be the case? well, i mean, they all kind of use something different because it's what the, how they've been educated, the techniques that they've learn, they have different tactics and procedures that they follow for getting in for
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getting out for hiding what they've done. and so what's done on, on a large scale, as you try to identify those things that are being done and try to assign attribution to them that this group did it versus this group. you know, this one's chinese, this one's russian. this one's north korean based on the kinds of things that they do in the techniques that they know best. and that's how they assign that attribution. and i mean, it seems interesting that we got all this information from microsoft. and i mean, i know we've talked about this to on the show with you before is how big tech has to kind of work hand in hand with government agencies with officials like the f b i or what have you? sure. so, i mean, the question is when microsoft starts making a bold claim and saying it's the same group that was behind solar. when are we supposed to trust them, or should we allow the officials to make that the diction? well, i think they've, they've gotten the same kind of information that our federal government, scott, they probably may have gotten them from microsoft about how that attributions assign and what needs were being used by this group. so i think we probably can
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believe them, that it was probably them, but keep in mind too that these foreign state actors will try to hide and pretend to be somebody else. so you can't always be 100 percent. sure. that it's this particular group because, you know, the r c a, you know, the russian federal police, whoever it is that's doing these might try to look like somebody else. now one more thing here, i know we've touched on this quite a bit in the past, but the head of the case by agency g. c, h q on monday, said the number of ransomware attacks on british institutions had doubled in the last year. now of course, this is a trend we've been seeing here in the u. s. as well. so is, is problem owing only going to get worse, or is there any way to get a hold of it in the near future? well, i think there's going to be some things in that same agency announced this we to that in the u. k. they're putting together a team to actually start hacking back. and i think we talked about that some time ago with this show do. when are we going to be on the offensive?
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and whenever is the, are the government's going to take it seriously that this is an attack? and that we've got to look at this for a military point of view. how do we eliminate these problems instead of just accepting that it occurs, go after those people in a much different manner than we have before? unfortunately, we haven't solved all the world's problems today, but we're sure tech try and try cyber security expert and president of get dealt. thank you so much. and finally, as the international space station enters its final decade, the commercial race is on with several u. s. companies already presenting their plans for a space station of their own. that now includes blue origin which has plans to create the 1st hotel and outer space as part of a mixed use and business part called orbital read. that would be 322000 square feet and hold that to 10 people at a time. though, it's part of a new partnership with boeing and sierra space that the trio says will become a reality. in the 2nd half of this decade,
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they say the vision for orbital reef is to make it both a place for research and for shooting creative projects like movies. while nasa has promised around $400000000.00 and private contracts for space companies looking to replace the i assess, the competition is fierce. recent partnership with between nano racks, voyager space and lockheed martin was announced with plans to create their own version over the next 6 years. and that's it for this time. on boone boss, you get portable dot tv will see you next time with with the financial survival guide. daisy, let's learn about the allow. let's say i'm
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a try catch any or great grief on base of the fight. wall street broad, thank you for helping with enjoy. that's right. fill out her desk. slavery ah, ah, a a a a ah with
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ah, yeah. it has to be rash. to be able to afford any time and find the luxury that for sure. despite having the most expensive health care system in the world, we have poor life expectancy. we have higher infant mortality. we have more deaths from treatable causes. so americans are suffering every day from it. it says if these people don't count i saw how they can choose their customers and dump a sick so also they can satisfy their wall street investors. no parents should have to see what i saw. so if you're denying payment for someone's care, your make life and death decisions and determine to get to live and who dies to me
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this best getting away with murder with you, fails to agree on how to protect citizens and businesses from storing energy bills, but say it was launched the hopes for who's to blame for the heated market growth shilling warning from the united nations would say that situation in afghanistan is so dire that half the countries entire population could face a cute malnutrition this winter with many dying we've here from the organization, the really terrifying monetary crisis even today which holds up to 90000000 people who aren't as we say insecure. that means they're experiencing hunger on a daily basis.

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