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tv   Boom Bust  RT  November 2, 2021 2:30pm-3:01pm EDT

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bus the one visit show you can't afford to miss. i'm rachel, blah, blah. breads are born watching said coming up as the world's most powerful nation met at the do 20 dominant rome leaders rally together to talk about tackling the ongoing going supply chain. well. well, this gust what came out of the summit floor. we take you back to the trade, seeing where the united states and european union are teaming up to take on what they call over capacity. but chinese producers then american airlines, canceled movies, thousands life and a single weekend, putting the blame on staffing shortages and bad weather. well, the fast with an expert in the field, we have a lot to cover today. full, let's get started. and we leave the program with a follow up to the weekends meetings of some of the worlds wealthiest nations. during his speech, president biden called on leaders of the g 20 summit to come together to solve the world's supply chain issues. as they continue to threaten the state of the global recovery and independent demik is the ultimate key to unlocking the disruptions for
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our content anywhere. but we have to take action now together with our partners in the private sector to reduce the backlogs. busy that we're facing and then read to prevent this from happening again in the future. in addition to calling on other world leaders to help resolve supply chain issues, president biden also outlined action he is taking to resolve log games in the us. announcing to further steps, 1st am allocated in additional funding to help american partners, as well as the united states, cut port congestion by slashing red cape and reducing processing times. so the ships can get in and out of our pores, faster. and 2nd, i'm signing an executive order that will strengthen our management of the united states, defense stockpiles for minerals and materials that allow us allow us to react and
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respond more quickly to sure. and joining us now to discuss this boom by co host, ben swan and chris, the, i bet i want to start with you tell us about these new measures by the administration to open up supply chain. we just heard from biden. yeah, we did. there's a couple of issues here. i think the biggest thing is they want to work specifically with central america and latin america. they say to be able to really work through a process of getting more financial assistance in those countries in those countries can provide more help to the united states in terms of fixing the supply chain issues. and then the other issue they say is cutting to red tape for customers and so that they don't have to deal with as much hold of time at the border. now christy, we know that the 2 major ports where the backlog has happened are the ports of los angeles in long beach. now both of those ports have announced new fines on cargo carriers. so what are the details on that?
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yeah, the vitamin ministration is hopeful that these new fines impose on the carriers here will ease these log in with cargo ships, support them. what the end of the long beach will charge care is $100.00 per day for each container lingering. has given deadline starting november 1st, so containers move by trucks will have 9 days before start fine, start coming. and containers to move by rail will have 3 days. but the thing is, this really doesn't solve the problem because it's not like the shift or lingering there because they want to log in as partly due to the shortage of warehouse workers and truck drivers to pick up the good. and it's not like the companies want to have the shortage, they're literally doing everything they can to move things along. but when you have a shortage of workers and drivers, they spend little you can do so further adding a penalty on top 4 companies will further cut into the bottom line even worse for businesses. so already there are businesses that are paying extra for the extra time at the waiting to be unloaded. so friends of mine have accorded their transportation and landed goods caught pen acting as
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a result and the ship city idol at be unable to come in due to the jam. so now me find will be punishing business is further simply because they can't find the amazon has their own fleet of trucks have control their own timetable. logistic, that's correct. most other small businesses actually rely on contract truckers to pick up their goods. and right now, there are no openings and no trucker. so i just don't think it's a good idea, nor will it help the situation at all. christy. one of the other answers globally, i guess the administration says, is to focus on multiple reliable suppliers of raw materials, intermediate and finished. good. so how does that relate to the ongoing dependence on china? it relates to china is currently in china is the main manufacturer of the world. so in times of crises such as the height of medical supplies and consumer staples were in tight supply because china itself was caught in the midst of the pen and
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couldn't work to produce the necessary supplies. so a lot of these talk i meant to mitigate dependence on a sole supplier and manufacturer a china in case there are any of their catastrophes or disasters or destruction will depend on korea just how vulnerable the existing supply chain is and looking for the vitamin ministration added that this will be the last crisis we face as there are climate changes, natural disasters, and even in the tax. so far, the countries have agreed to work for more transparencies and information sharing between countries and on the need to have multiple reliable suppliers. but at the same time, the ongoing friction between us and china is also contribute to this because there has been no b escalation. and by china she can be not showing up to the meeting. it shows that there is still a lot of mistrust between the 2 nations. so while diverse, the pines supply line is a good just good strategy and good business practice in general. the other half of it sometimes like that there's a growing risk between us and china and is continuously hampering business and
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trade relationships. right. and i know that those tension, there's something that we've talked a lot about and they become even more important. and even more notable as we go along now, but when it comes to really the effects of the supply chain issues, we've heard that many supermarkets are reportedly having to play what is described as a whack a mole, trying to keep certain products on the shelves. how is that playing out so far? well, i think it's difficult. i mean, you do have the issue where all across the country, different supermarkets are, are trying to figure out exactly where they're going to get their supply from. and so specifically, there are certain items that are doing especially well or more scarce. nutella is apparently one of them. pringles chips are another one. i don't know who's eating pringles 986 really there and have a lot of people want them. because supermarkets are having a hard time keeping them thought, but i, i think what's really interesting about all of us and, you know, kristi pointed this out as well. this is not a global issue. it is a, it is a us issue right now. and so interesting that a lot of the guess have on
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a boom bus will talk about this, that other countries are not seeing that this is a u. s. problem. and specifically a california ports problem. and so the idea that you know, all these different levers are going to be pulled in order to fix this problem for including the finding idea, right? you're going to find and punish certain cargo carriers if they don't move fast enough. you want to try to force the private sector to move faster. there's so many different elements that are being included in this when the truth is moving away from those 2 ports would be very helpful when 40 percent of all of these products are moving through those port supermarkets can get their products faster. there's a much faster way to do this, and it's to not continue to sit outside off the port of los angeles in the port of long beach, get them to another port. definitely a point to consider. boom bus, co host, ben swan and chris the i thank you so much for breaking it all down and staying on the topic of global supplies. there is a new agreement between the us and the you to put an end to
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a series of terrorists that were put in place under the trump administration. as a result, the u. s. will lift the 25 percent tariff, bog, steel and 10 percent duty auto aluminum from europe, and the e. u will lift its levies on a series of us made products that include whiskey peanut butter, orange juice, and harley davidson motorcycles. leader is from both sides. praise the agreement, calling it a quote, new era in relation between the u. s. and you, here's what this deal does. it immediately removes tire on european union, on the european union, on a range of us products and lower costs to american consumers. and ensure a strong competitive us steel industry for decades to come and create good pain union jobs at home. and this marks a milestones in the renewal us partnership. and it is our global 1st in our efforts to achieve the d cup on the face of the global steel production
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and trade. now this new agreement comes with one clear target. the leaders say they want to put an end to be over production of steel in the name of the environment, because the industry is one of the largest when it comes to c o 2 emissions. but in doing so, they will also be targeting beijing who still production accounts for more than half of the world supply or as president bite in described in a statement to the press. the new agreement with the you aims to quote, restrict access to our markets for dirty steel from countries like china. so joining us now to discuss the latest is hillary for president straw mark l. c. and board member with the british american business association. hillary. it's great to have you back so that when it comes to this new agreement, how likely is it to be successful? i mean, what do you make of it? okay, well, thank you, patrick to be back with you again. rachel, i'm successful for whom. that's the question. for the steel workers in scranton, pennsylvania, i don't think so. does it matter when they lose their jobs because steals coming in
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from the you with the jobs the last to the you are china. i don't think it's very good for american jobs. and one of the reasons that we're terrorist, imposed by the previous administration, were to protect american jobs. so if you importing steel really doesn't matter where that was coming from. that's number one. point number 2, successful. well, it's successful for holly davidson because their stock is soaring. today, so those tariffs, now the e u has decided to sort of to work in part of this deal is to reduce some of those towers. so the towers have been reduced on the holly davidson but also for above and whiskey for peanut butter, for orange juice. and for a number of other american products. so it's successful for some of the american companies that now longo no longer have those towers and post into going into europe. it's interesting because whatever, we've talked about tariffs and trade recently, it's always these very specific, obviously, steel with a broad category that's very important to manufacturing throughout. throughout the world. it seems like whenever we get to the year, we start talking about peanut butter. that's. yeah, it's fish,
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it's awesome. whatever. happy in georgia right now, the bottom of that successful with some people not promise that will be my hillary, even though the leader is say they are acting in the interest of cutting c o 2 emissions. and how much is tied to the dominance of the marketplace of steel play a role in this truth between the you and the us? well, 1st part of your question, when you say global leaders say about global leaders saying, you know, the biden took 5 planes to europe. 85 cause were in his entourage, leaving rome and going to the global summit, all these global leaders, they're all flying their, his carbon emissions. 2.2000000 tons of c o. 2 emissions just from those claims alone. so what they say, i think they're just hypocrites because why didn't they do this all by zoom? so what they say, i don't think has a lot of relevance. there are lots of hypocrites because they could have done this 5 boom. and that would have shown us all they really do. sincerely care about the environment. now, to a point about china, china, producers of over 80 percent of a world steel. they've actually recently constructed 84 coal lights. so china isn't
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that the table, china has issued a statement saying that they would try to get to sort of even emissions by 2060. so that's 1020 years behind the rest of the world. i don't think it matters what they say because they're not really doing very much, but just being hypocrites of the whole thing. so i think it's actually a lot of virtue signaling. it always seems to me that way, whenever it comes to something like these, you know, they focus on those photo ops is all 2 important pictures that you get to the leaders and then not much more after that. now finally, before we go, i did want to touch on this point, which is that you have the us and the you talking about this new era and their partnership together. well, at the same time, you know the u. k over here, still not having that all 2 important trade agreement under the binding ministration with the us. do you see this is a way of the u. s. kind of saying that they're choosing the you over the u. k. right now thought of choosing. yes, rachel, rather choosing, i would say i'm actually biden. i don't know whether he meant to make such a huge mistake. but he actually on air, over the weekend,
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managed to alienate pretty much everyone in the u. k. when he actually came that the france is the greatest ally, the longest ally on the best allies of the us. well actually they want, when we were flying planes over to in the gulf war because they wouldn't even the claims go with their s base. so they weren't such a good ally then, but actually this of course is a demonstration of the closer relationship between the you and biden. and it goes back to his roots of not only funding the i r a, but also his roots of being just like he was when he was with obama, which is that the u. k. was go to the back of the line with brooks that he's been against. brock said he counts his irish roots even though it's finally came over in 1870 a little while ago. but he really has yes tons. pivoted towards the you versus he yeah. okay. definitely. yeah, it certainly will be interesting to see what comes out of those relationships and forward, but create incentives. always hillary for which thank you so much for joining us.
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and the world is waiting for the certification of the nordstrom to pipeline. but in the meantime, the dispute continues over the state of europe, energy supplies, and what russia should be doing about it. while reports noted the existing pipeline from russia to germany, came to a standstill over the weekend. mock out responded by saying it is still falling through on its contracts with europe while also making effort to make natural gas available to the region. the pressure has been on to make sure that europe has the supplies that need with winter quickly approaching rushes emphasize the importance of pursuing long term natural gas deals in order to secure supplies and to lock in pricing down the road. but countries like ukraine have come to rely on reverse contracts, where they buy gas that comes from russia after it has been sent to western europe instead of buying it directly from russia due to some political concern. there, however, mal dover, just in a 5 year deal with gas problem that went into effect on monday. now it's interesting here because i know every time we talk about the nord stream pipeline,
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we often hear a lot of backlash, especially from the media against russia, saying that russia should be stepping up in terms of the supplies. * that they're only doing this politically when it comes to the north stream to pipeline. but it is interesting to hear their response if they're wanting these long term contracts and emphasizing the importance of this. well, at the same time, yes, of course they want nordstrom to say fine, because we've been talking about it for years. well, right, and we've talked about that on the show. many times is that spot pricing, which is basically buying it as you need it, where things are that could be tough because you don't know when the next tracks coming. and especially as we talk about moving it energy, reliance, or as crisis fluctuating. dr. decide what works best for your country. that can be a problem as well. and certainly europe is going to be focusing on it more and more, especially as we get into those winter months and time now for a quick break. but when we come back, it has been yet another nightmare weekend for the airline sector as american airlines suff swath of its life cancelled as rough weather and staff shortages like the industry. we'll discuss and as we get a break here,
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with welcome back tens of thousands. the passengers in the united states dealt with a wave of light cancellations over the weekend with more than 1800 american airlines flights being grounded due to staffing shortages and weather related issues. so what is the impact of these cancellations? and will they continue into this week?
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archie correspondent turn new child as has been following the story and falls. those report airports across the united states, a ceiling. the fallout after a weekend of mass cancellations. more than 2000 flights canceled this week and across several airlines, american airlines is struggling. the most cancelling more than 1900 flights since friday. a 3rd of its flights cancelled sunday alone. hundreds more cancelled on monday morning, marking the 3rd straight day of cancellations. the company and blaming the weather and a shortage, a flight attendance. american airline said in the statement with additional weather throughout the system, our staffing begins to run tight as crew members end up out of their regular flight sequences. the airline bo continues to battle staffing shortages amid the coven 19 pandemic. since air travel plunged in early 2020 airlines offered buyouts and early retirement packages to employees in order to cut costs. but now like other airlines, american airlines is racing to bring back to workers and higher pilots,
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flight attendance and ground staff. as air travel has drastically picked up in a letter to employees, a is now pledging more than 4000 new team members. and 600 new flight attendants heading into the holiday season. the chaos comes just weeks after southwest airlines cancel 2000 flights in just a matter of days, straining thousands of travelers and employees, costing me or line a $75000000.00. and after more than 200 flights canceled this weekend, southwest is now further scaling back flights to make sure they have enough staff for boom bust trinity chavez, r t, new york. and joining us now to dig deeper into this issues facing us, airlines is dead. his teacher, he is a community chairman for the airline pilots, so serious the labor union representing american airlines, pilots, tablets, age are always a pleasure to have you on. and i know you've been dealing with some of these delays as well for being a pilot yourself. so how much of these staffing shortages that have been faced in
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recent days is due to the airlines handling of the staffing as it transitioned out of the cobra? 19 parabolic really hit a nail on a head, a bell trinity in yourself. this is not just staffing, this is what you do with the staff that you have all of its being exposed when weather hits. you know that storm we talk of, which is very strong winds in dallas, unlike we've seen in a very long time, certainly caused cancellations. that happens at every airline, but the fact that we're days into this. and you know, yesterday it's over a 135000 passengers impacted. you take 4 or 5 people that they are all going to meet. i mean, that's an extraordinary amount of folks that have been impacted by this. and it's not just because you don't have the staffing is because the people that you do have both the pilots in a flight it's in, it's in a pilots. were part of that. it most of it was a flight attendance about 60 something percent we're in a 30 percent range, which is you know, you've covered this through the summer that the connecting the pilots to the airplane. now we have the flight attendance to the airplane is the blocking. and
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tackling of running an airline and management is just not getting it done. she can't blame the weather. you can't blame the calendar every single time. we've got to get this fixed. now whenever it comes to these ongoing shortages, i mean, i know this is something that is kind of come up more and more over the last month . and it seems like we kind of get to a weekend like this one. and all of a sudden it is hundreds of flights that are canceled. and so then the question kind of becomes, it is something we're expecting not only more later this week, but also as we get into the busy holiday season, is it likely that we're going to continue to see weekends like the one we just saw? rachel, that's exactly it. that's why we've been on your program and others saying, we're concerned about the holiday travel season. right now. management is stuffing the holiday turkey with uncertainty. it's got to be fixed. we've got the solutions . management said, hey, thanks, but we don't need to chat with 2 months, 2 over 2 months. we've been asking them and they said, well, in a couple weeks we'll get back to you. well, here's the result. and we've seen the stage of who all over again. it's got to stop,
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we've got to get the fundamentals down because our pilots and flight attendants are just like our passengers. we're having our family lives ripped apart because of this. and other airlines are not going through this. so the time to fix it is now we need management to join us. and by the way, the federal taxpayer, all of us are that invested billions of dollars in the airlines to not have this happen over 12000000000 and p s b for american airlines. we're grateful for that, but how dear management not be ready for this recovery? we're ready. our flight attendants are ready and certainly the passengers are, you know, obviously the airline did wasn't able to for low workers while they were, you know, in the point where they were receiving that money. but i mean, it does feel like they could have easily seen a company has they asked people to take early retirement, you know, in that same that post cobit era, that this was exactly what's going to happen. i mean, what do you expect the are? what are, is the allied power association that is to say,
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and the corresponding union for the other portions of the airline workers? what are they hoping to hear from management to actually fix these problems? what's your plan? it's that simple. we don't hear any plan from management other than motivational speeches about how we're going to do better. well, hope doesn't make an airplane fly and actual plan does. so we're looking at the holiday season. we just talked of the uncertainty there. merican just announce are going to more than double the hiring for pilot he $500.00 for next year. that's over double with a enough. earlier we have instructor pilots leaving instruction core going back to the line to fly. it's going to have manning in the instructor side or the simulators to get this done and not and stop this. this madness from happening. we don't want to be in the headlines like this. this recovery is counting on us and the pilots and flight attendants are stepping up along with every every other worker. it's management that is feeling to help us connect to the airplane and until they change their ways, we may see
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a repeat of this and we cannot afford to do it not only as human beings, but as employees of this enterprise. captain dennis taylor of the allied pilots association. thank you so much for adding claire to story and we'll have you back on as we follow it. thank you so much. thank you. and finally, there has long been the contention from critics of the world's wealthiest people. that if billionaires would give up just a fraction of their wealth, it could solve world hunger. in fact, last week the head of the u. n. world food program, david beasley said it's time for billionaires. like say you on musk to step up now on a one time basis to help fix the problem. telling cnn 2 percent of ones. walt, which is roughly $6000000000.00 would help $42000000.00 people that are literally going to die if we don't reach them. now, while this trope has been going around for some time, on sunday, must actually responded to the idea on twitter,
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saying if the w s p can describe on this twitter thread exactly how 6000000000 dollars would solve world hunger, he will sell test right now and do it must added that the reply must use open source accounting. so the public sees precisely how that money will be spent. and rachel, this is something we've heard a lot of over the years. and i mean, i don't want, it always seemed like the person who defends billionaires run boom bus because that's not at all where i want to be. but it's a short sighted opinion. again, yes, they could throw money at world hunger, but there needs to be a plan. you know, the world food program already get $8000000000.00 in funding. and just as last year loaded, they didn't. surely if there was some sort of figure that would solve it, that's what they would be doing. was any 1000000000 or what's their name on solve world hunger, and that's it for the time you could catch boom bus on demand. a portable tv, portable dot tv will see next time me
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the it's been 30 years since the soviet union collapsed in miss couple other literature . well, the one to what the problem yet nuclear you talk, so shown where you also trust them went all the ukraine was one of the independent states that emerged from the ruins of the super bowl. i'm doing awesome. good. would you also get on google greens? come on board, surely confusing some of the i can last new lucian with lung or law a couple of things and finish with watch at the pine street decades green light for ukraine. eye witnesses recall the events. this will be more or less of judiciary with our new to know if that order. sure it's, i'm not sure,
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but it be about 4 months with no idea what else, what other forces were at play? you have to do so to whom you show in sion machine, those them you put in the kid what it americans when it shows up in the ocean. jordan is take a look at ukraine, 30 years out the gaining independence. you're going to do with your phone with us here in unity retorted legal way, but a will ethridge if you could re issue. okay. nashville has been holding. so for our climax guys are worth more of my guy to finance all survival. this is a hedge fund, it's a device used by professional scale, you eggs to earn money. that's right. these hedge funds are completely not accountable, and we're just adding more more to them. totally, the stabilize the global economy. you need to protect yourself and get inform.
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watch guys to report the british and american governments have often been accused of dest, boeing lives in their own interests. what you see in this, these techniques, is the state devising methods to essentially destroy the personality of an individual. or by scientific means. this is how one doctors, theories were allegedly used in psychological warfare against prisoners deemed a danger to the state. that was the foundation for the method of psychological interrogation, psychological torture, ca, disseminated within the u. s. intelligence community, and worldwide among allies for the next 30 years. and how the victim say they still live with the consequences today. oh,
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president putin pledges the russia will be carbon neutral, no later than 2060. and a message to delegates at the un climate summit in scotland. the west pushes for action had cop 26. we'll look at how they're ambitious plans might hurt nations dependence on fossil fuel. to head to the group representing britons and h. s. hospitals warms that mandatory vaccines for health care staff could spock an exodus of workers and put lives of risk and france delays. it's retaliatory measures against the u. k. and a dispute over fishing rights off the britain, threatened legal action ah live from moscow. this is our to internationals well.


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