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tv   Boom Bust  RT  December 29, 2021 1:30pm-2:01pm EST

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o, everyone is contributing each in their own way, but we also know that this crisis will not go on forever. the challenge is great. the response has been met. so many good people are helping us. it makes us feel very proud that we're in it together with oh, happy new year. special kaiser report with the one and only gerald salenti, originator of the trend forecast. man, you know stuff who's diagnosed with cancer in 2009. when the doctors told me the cancer was incurable, i knew i had to make a change. so i decided to travel to one of the most toxic places in america. florida. one of florida is biggest industries and best kept secrets is phosphate in
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the biggest layer in 80. $5000000000.00 industry is mosaic. and i, there are reports of millions of gallons of contaminated water now flowing into the florida aquifer name pro. there's a chronic. oh yeah, i don't want to hear that word poets name, but that's what it in 2013 my all our family dog, my brother, who was 21 years old, myself and my father were all a problem with wow. yeah. hold on and they could play it right. yeah. maybe they'll actually learn that more help is more important than with
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well this is the one business show you can't afford to miss. i'm been one, filling them from atlanta, and coming up as the only con, very to the globe, the united kingdom is reported its highest coven case out so far in the pandemic. this is goldman sachs is given the i'm a nation, a gleaming forecast for 2nd recovery. straight ahead. we'll discuss this and the latest revisions to global recovery outlets and later will take you to the airline sector, where the new variance driven math cancellation and staffing issue. we'll talk with an expert in the field to break it all down with a pack show today. so let's dive right in and we begin with the latest on the omnicom variant of cove it in what seems like, quite frankly, a complete turnaround from what he's been saying for the past few months. president joe biden now says that there is no federal solution to overcoming the corona virus pandemic, and that the solution,
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it's got to come from the states and from governors to look, there is no federal solution. escape solved, state level my message, the governor simple. if you need something, say something, and we are going to have your back in any way we can. now keep in mind, president biden has issued a series of attempted federal mandates and workarounds using osha. so this new statement that it's up to governors to take action, or it's again, certainly new will. meanwhile covey cases in the you k have reached a record high of 129471 new cases reported in just a single day on tuesday. that's in england and in wales. in fact, data from the n h as england released on tuesday, revealed that the number of patients in the hospital had risen by more than 1000 in the space of a day with more than 9500 beds occupied by people with coated on tuesday compared with just over 8400 people the day before. joining us down to break this down.
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hillary for which with the british american business association. hillary. great to have you on. thanks for being here. catherine. so obviously we're watching this number of cases a sore here in the united states with albany crime. no question about that. we hear about new cases every single day. certainly that seems to be the cases we just talked about in the u. k as well. what seems to be kind of the general sincere of what needs to be done in order to get an account under control specifically in the u. k. well, specific in the you can think the been, they've actually done overall good job. i'm in terms of the vaccination rates because a 92 percent of the population is vaccinated, particularly those over 12 and 8 in 10 adults had their 2nd job and there's plenty for the rest. i think the n h s has done a very efficient job. certainly more efficient than the rest of europe. so on the chrome, i think it's going to be very similar and that is having people vaccinated and what people are talking about is very interesting though boys johnson doesn't talk about this. president biden doesn't talk about it. is you know, the people that do,
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and it's very unfortunate, of course, that they suffer greatly. and those people that you know, within the death rates, they don't talk about the co morbidity issues. they don't talk about the coma ability numbers on the co mobility rates a tool. i'm so that the lot of people are immune compromise. they're very sick anyway, i'm not talking about also. it is the use of vitamin d and zinc. dr. michael cohen has been conducting extensive studies on this, and he's noticed places like israel, where the code rate is very low, people are affected less of course, is a lot more some and ironically in the u. k. one of the restrictions has been not letting people eat or do anything outdoors, not to go outside when you have coded when you diagnose where is this mean d from the sun, although there's not as much in the u. k. of course, lots of other places is very healthy, so it's a pity been they're not talking about a lot of the positive immune building activities that could go on whether it's nutrition, vitamin d, or think no doctor anthony valgy on monday he called for the banning of
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unvaccinated people here in the united states, in terms of domestic travel already there is a ban on some international travel, but he said domestically, if you're on vaccinated you shouldn't be allowed to board in our plan. i'm just curious. i was in europe over the summer earlier this year, but i know that the restrictions across europe have become much more strict over the past few weeks and months, especially. what do you see in terms of those covered restrictions getting tighter, especially as we go into the 1st couple of months of 2020, to january, february, march of next year. and do you think that will see kind of an increased ramping up of restrictions? well, i think bend that the writing is on the wall. yes. you're seeing stipulations of regulations in place and across europe in terms of those countries and it's very different in different countries. those countries that won't even allow people. busy into that country unless they been vaccinated. and i would say when you look at, and i said the writing on the wall, you look at the trends. had friends usually spread across the world in terms of this and no pun intended, in terms of like the virus spreading. but i do think that you see countries wanting
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to be in line with those that other countries have implemented. however, look here in the us at we just leave it was yesterday or today that the cdc has now said that instead of a 10 day quarantine, that should only be a 5 day quarantine if you're diagnosed with it because you've tested positive coded, i'm because of the national disruptions, i think you're also going to see the writings on the wall, then you're going to see nations changing their policies depending on how it's going to affect the actual population and the economic outlook for those different countries. because it's very different from the you, of course, than it is in the u. k. as you mentioned at the opening, the show of the show, goldman sachs has projected that the u. k. is going to bounce back brilliantly and 2022 with our 4.8 percent growth rate, a much stronger than that of most european base. you know, a, goldman sachs report just predicted u. k growth of 4.7 percent over the next 12 months is well above the 3.8 percent, which was already estimated for the united states. it's out pacing the u. s. it's
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out pacing other european countries as well when it comes to corona virus recovery . why do you think that is? why didn't the u. k. is doing better certainly than other european countries, but even better than the united states, even with cases of on the grounds we mentioned the start here kind of soaring there . well, i think then it goes back to what i mentioned earlier. i think it's actually the efficiency of the n h. s. is probably the strongest national want one of the strongest, if not the strongest national health care system in the world. and it was a very efficient vaccination process when i mentioned only that 92 percent of the adult pop out of population, those over 12 been vaccinated. that is an astounding number, and it's right to the highest right at the top of the list of any i'm industrialized nation. so i think that's the primary, the primary reason why you're seeing the success, why the bounce back will happen. also, don't forget the u. k. took one of the hardest is at the beginning of the pandemic and of course being an island nation. 95 percent of all products and services have
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to be shipped in and there was a laurie drivers shortage. the heavy goods vehicles are shortage of drivers early on in the pandemic. that was because usually $35000.00 of qualified each year. and that went down to less than $15000.00 joint coverage. so there were many reasons for this gossley dip in the u. k. in the hit to the g d p, and now i think you're seeing the bounce back, mainly because of vaccines. and because a lot of those shipping and supply chain issues have now been ironed out with the lifting of a lot of restrictions on what was holding back on new qualifications for heavy goods. vehicle drivers short on time. here about 45 seconds left. just let me ask you quickly, what is your sense of how europeans are dealing with the ongoing pandemic in terms of a pandemic? that quite frankly, some people would say, well, the pandemic just doesn't want to. and others would say, governments don't want it to in their rather enjoying the new found sense of power that they've given themselves haven't even been granted during this time. what do you think that you're feeling in general across europe, and is there
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a significant difference again, pretty quickly here between western europe in eastern europe at this moment. yes, there is of awesome between eastern europe messenger europe. you're totally right though about the governments want you to stay empower. you also have to look at who has benefited follow the money. the pharmaceutical stocks, the fang stocks, facebook, amazon, netflix, on apple, google, microsoft. they have immense lobbying powers and their lobbying, current governments empower governments, want to stay in power. you've got a conservative one in the u. k. got left. anyone in the u. s. they want to stay in power. now quickly to answer your question about the east west differences, don't forget, in eastern europe there is a lower population density. there's a lower life expectancy, fewer people, obviously, elderly people. they're the most vulnerable their way, flew a fewer fuel flights in and out in the beginning of the pandemic. but also they look down quickly and very importantly, one of the reasons they look down and are referred to ion acrobat cross that he's a bulgarian political scientists. and he said,
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don't forget the eastern europeans were very concerned about their health care systems, not being able to hold up. whereas the u. s. and the u. k. were a little bit more cavalier knowing they had good health care systems. so they looked down very quickly in eastern europe because they saw what was happening about with the rapids are spread further in the west. so i think that's another difference that you'll see between eastern european western europe hillary for lunch with the british american business association. thank you so much for your insight but i'm now for a quick break, but when we come back, the omnicom barion is still way in heavy on the airline sector as cancellations and workers shortages are hitting the travel season. very, very, very hard at this point. so many cancellation over just the past couple of days. not much more right after the booth
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when at the end of every year across stock, answer some of your many questions. not surprisingly, many of your questions, concerns politics, the current international situation, and whether we should trust legacy median. we'll do our best to answer as many questions as we can. one of the worst ever mess shootings in america was in las vegas in 2017. the tragedy closed a little of the real las vegas where many se elected officials are controlled by casino owners. the vegas shooting revealed what the l v m p d 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 head, 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 be the control group to the shiny facades conceal a deep indifference to the people who lives could have been saved if they were to take an action. absolutely keep the registering and keep the slot machines. dinging vegas as a money machine is a huge cash register that is ran by people who don't care about people's lives being lost. and we'll get back into the on the chrome barrier as we just talked about has been spreading across the world and economists. they are moving to decrease their
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predictions in order to talk about progress for the global recovery. remember the global recovery that was supposed to take place all the 21 and 22. and now of course that is being put on hold. in fact, bloomberg is now predicting that the global economy will grow 0.7 percent in the 4th quarter. that's down slightly from previous predictions of just one percent. and notably, just half of what we saw in the 3rd quarter. well, the latest varian that has led to a drastic decrease in hospitalizations, in south africa, where of course on the crown was 1st discovered the rise of new cases in the public response have had an impact worldwide. and it's raising the question of whether or not the global recovery, as it's called, is that risk going into 2022 of them are in the of them as l. l. c. i'll tell you. certainly, you know, we talk about these latest predictions, right? we were supposed to see a big recovery, certainly coming along in 2022. that seems to be now on hold. when say you
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well, i think making these forecasts about where economy is going to go with such precision to say i can get to write down to a 0 point one percent of my full cost in these times, a bit of fools errand. i think i think the best you can do the stage is to simply say there's also different scenarios. i don't know what's going on with the home icon. it might go up, it might go away quickly. i don't know what the federal reserve is going to do. exact was monitor policy with a be impact all these things. so i think having one single very precise number in terms of focus for the it is a bit off the market. the 2nd thing the best you can do is just be very, very flexible. and right, and i mean, and i think is going to change rapidly and don't have too much listed in forecast that source. well certainly you know, here in the us we see businesses in restaurants and hotel. they have felt the impact all throughout 20202021. and now they're beginning to feel it again because we're seeing this resurgence not only of the crime, but a resurgence of some of the the locked down from the shut down. and really it
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depends on what city were talking about, right? because depending on where you are in the country, you're seeing a lot of shut down chicago, washington, d. c, for instance, are seen to be slipping back into a lot of this. whereas other parts of the country are not. now, the cdc has kinda been going through a process, it seems like of shortening the quarantine period in order to try to help stave off some of that. if you will, going into this next year. do you expect that we're going to slide back into a shut down mode for a lot of these communities and business communities, or do you think that there are want to be adaptations made in order to kind of prevent us from going back economically to where we were over the last 2 years. i do fear that in a very real way. we are repeating 2020 and it feels very much like that. where the beginning of this phase. now we now have the on the convent. what we've seen happen in europe is the numbers gone through the route from almost any country. you look at the, the case counts going out way, way high. and it's not just
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a temperature short term for them. it seems to be actually fairly well entrenched. and it doesn't look like vaccinations, a booster shots of done much to really help it. so if you look at come to like denmark, for example, where you see it got the highest infection rate in the world. now despite the fact that they are very highly vaccination, highly boosted, so seems that the vaccinations and boots are not as effective against some as we might have hoped. and so that's not going to be the way out, but i think yes, we're going to see this come to the u. s. the, the, these things are going to accelerate in the us as well, and seem to be on the uptake as well. and i think we can expect to see some very large numbers, most of it looks like as much of a multi tech, so things might work out together. but you asked about the cdc's requirements accounting, and cutting that from 10 days back to 5. that's certainly going to be good economically, so you get those people who production more quickly and they're going to be out of the workforce for a short period of time. but does bring the risk that some people, the margin, were not fully recovered or might still be infectious, but feel better than in fact other so it might have an effect on the infection
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rates and lead to higher numbers. but i think it's clear we're going to see more of this having us cities and we're seeing the new york, i'm going to see it, i think around the country. you know, i told you, i know that we've talked a lot about the federal reserve, about fiscal policy and everything that's been taking place for the last couple of years. it was expected that the fed was going to finally start rolling back. some of these pandemic policies that have been put into place in the new year and yet now that we see all that's going on with the talk of the crime and how that might impact not only the economy but it's impacting health policy. do you feel that the fed is still going to make plans to, to pay for all some of these programs, or are they going to, could stay the course at this point? as you said in the past, the market obviously loves the fed intervention. but do you think that intervention is going to come to an end or at least be tapered or we're just going to go full steam ahead. straight into 2022. well i think what it means to say because the fed
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has take it a bit. so the purchase is not, not dramatic, not radically. they were buying a $120000000000.00 worth of bonds and they'd take that down a bit. not that much. but what has not happened is that the bond market haven't bugs haven't moved. so if you look at the, the 10 year yield of the 30, the been pretty stable. so the 10 year there's a one point just under 1.5 percent and that hasn't budget for by the years, basically like it was in march of this year. so the bond market doesn't seem to really believe the fed will cut back it's purchasing dramatically because if they started to think it was going to happen, well, interest rates will talk to shoot off of that. you really buy the stock market. so it looks like the market is kind of calling the fed bluff and saying, we don't believe you're actually going to do this. you're not going to actually increase interest rate is a new bond purchases. we really going to karen going and that's coming very good for markets i and i think the fed will season this opportunity to carry on these
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very easy monetary policy as into this year. and i say we can't at this stage with part of the economy, shutting down again, lock looming with a new very on the horizon. we can't now take away the support we have to keep it. and i think that's what it's looking for. and that's why with a recent they've asked you this, we've seen you recognize in the market and we haven't seen the yields batch or china is emphasizing the need for stability in 2022. and we know, you know, that they obviously are calling for it. but what exactly that looks like, i don't think anyone's quite sure. it is expected to see more support from the p o . c, the people's bank of china. certainly. how do you see china specifically having an impact, especially when central banks around the world, they're looking to kind of pull back from this monetary support that's been in place. i give you the last word what it looks like. the peoples banker, china piece is moving in exactly opposite direction about the central banks around the world. so the european central bank,
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the fed by giving it all talking about sort of some cut back on the bond purchases, enticing the militia policy, the peoples banker chinese going the opposite direction. let's say. first of all, earlier this month they said to the banks when to reduce the reserve requirements that pumps mortgage in the market by allowing the banks to lend more so the whole, you know, couple $100000000000.00 closing tomorrow that we eventually it's not a very quick measure, but over time will increase the amount of liquidity market and lending in the market. hopefully, if the banks are able to find people to lend. that's because the other question. and there was a certain interest rates by very small amounts. so that prime lending rate went down a bit and they re lending facility but uses it isn't straight. so the chinese are in the opposite direction of most other banks as basis they were going to pump molecules in the market. and the reason is looking at, they basically a crashing real estate sector was a very unhappy investor and trying to pop up in a way they can. so they were gonna use interest rates were going to probably business. but the changes that made of sort of very, very small of
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a sort of tiny steps and it looks like they think they can sort of find you in their way out of this and have very accurate mortgage in terms of how these markets work. i think they're gonna have to take course reaction, but the change they've made so far over the course this month, i think are an indication of things to come. they're going to loosen for. so they're not going to be satisfied just with very, very small changes and interest rates. they're going have to go further to support the real estate market and make sure that doesn't crash on on top of them are in the of obama. l. c. thanks so much for your insight. thank you. well, the, on the on very, it has continued to batter the airline industry. no question about that. another 2500 flights were canceled on tuesday with more than 5000 others delayed. and as you probably know, this happened all throughout the weekend and around christmas thousands, the passengers were left stranded since these mass cancellations 1st began, they began actually on christmas eve, they continued to the holiday weekend. the problems have been felt around the world and especially right here in the united states where the airlines that were already
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struggling to keep up are now facing major staffing shortages as sick calls are on the rights to discuss all the latest as former in t, as be official. jamie finch, jamie, thanks so much for being here. we talked about the airlines getting ready for the holiday season. so what exactly happened here? certainly we saw a mess over the, the christmas holiday. it's continue to the weekend. and now here we are. you know, on tuesday and it seems to be continuing even more. so what's happening? well, obviously there's a lot of things going on. this is not just a covey situation, is just as a staff shorted situation. there's been multiple factors that play into this. and some of them even historical, but the main factors that have been going on, obviously, or the coven situations that people getting sick in or being exposed, having to go into quarantine for 10 days. now that's been changed in the last, in the last 24 hours to 5 days, but over the weekend before the holidays, that was what was in place. so you have that you have
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a shortage of aircraft both because they had sold them off or they had put them in storage. and when a plaintiff stored you can't just go like a cargo and turn the key in up and it's up and running. you have to go and go the mini mini safety procedures to get the plane back in, in serviceable condition. so there's that. and then of course there was the weather . the weather had a big impact on, especially in the northwest. and when those things happen in one region of the country, they start cascading around. you know, certainly there is a dana domino effect. ok, there is no question about that. you get the bad weather, you get some of the calls coming in from people around the country when they've been sick. and so as, as a result, you have this domino effect for airlines get behind and it's hard to catch back up . as you're saying, however, is there anything the airlines could be doing right now that could remedy some of this at least make it easier, especially when on the chrome cases seem to be writing so quickly. and so many
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people seem to be coming down with that, that at this point it's almost gonna have to be built in at least for the next few weeks into what is still. and as you're saying in the midst of a very busy travel, well, i mean, there's a limited number of things that they can really do with this. i mean the covey. we're at the, as a comma crime. we're very much at the mercy of the virus as is spreading. now we all know that it spreads very easily, much easier than the others. but the good news is people aren't getting sick as much, and there's definitely not as many just percentage wise as they're happy. and now that's not to say that the earnings actually are getting sicker. but it seems like it's actually an ad in boosted are doing better now the airlines had been doing requirements for their, for their flight crews and so forth for the, for cope for cove, it. and they have also been trying successfully where, where the companies or what the industries that was lobbying the cdc to change from
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10 days to 5 days. and that will give them a lot of relief. the airlines that is, as well as other industries. and finally, airlines have been actually offering double paid or more to employees that would like to pick up extra shifts. so they're trying to do their best, but they're also we had to remember they are there as a transport company, but they are also a safety company. and that's one of the things that they have to be very, very careful about. you know, certainly the airlines have been criticized from a government standpoint of over the fact that $54000000000.00 in federal aid was given to them during the pandemic. it's an enormous sum of money, mostly will kind of wrap their minds around what that looks like. and i think to a lot of consumers, it feels like, where is that money going when you have so many staffing shortages? is that a fair criticism, or is that just people not understanding all the dynamics of play here? i think is a fair criticism to address. i don't think it's a fair criticism of chris or criticism in general because the joke is within the
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asian industry. the quickest way to become a millionaire, to be a billionaire by an airline. so, i mean, here they are not really, historically been very big money makers. and so there there's been a lot of criticism. they had delay all of a lot of people, but they're bringing them back or tried to bring them back. but a lot of those people that they had been, they've been working for the airlines before. they've moved on it with their lives . they've gone and gotten other jobs, they are doing something else. they change careers, what have you or they went to another airline. and so these things to factor in and into the why there's a shortage, but you know, they were trying to survive. and that's, that was the main thing that airlines had to do. or no one's gonna what was going to have a job or a way to fly around for were in ts, the official jimmy finch. thanks so much for your insight. do that is in for us today. thanks so much for watching. be sure you can catch up boom bust on a portable tv app. it's available on smartphones and tablets, a google play,
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and the apple app store. i see about your time in colorado, you can kind of a test bed for medical and then later recreational marijuana and it started with something. so in a saying, i was wanting to socialize, everybody does it? so i cannot and then it just keeps going and going and going. i'm just going to do it one. yeah. and then it's, i'm just going to try this once and then never do it again because they want my phone because on and i right on inside. ok. and you surround yourself with people who are encouraging you to do it not to stop or it felt like my life was over, jumped office about the balcony and died.
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she knew the just a chill, which was to chill, did wanna do with each one. and i was just my way them like he's coming out of school is out of it. i see what was left the game. is that with water with issue machine that i did with when he gets here? i need a power out
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one with ah, america's budget priorities put the pens again before the pandemic tonight. as president biden's signs off with a massive $700000000000.00 defense plan. while washington's global vaccination campaign keeps running out of money, german politicians called a bomb the popular messaging up telegraph of hosting hate speech and coven conspiracy theories. however, moscow says lots double standards of the german media, criticized russia for trying to do exactly the same thing. just a few years ago and mari leda slams australia's policy of automatically reporting new zealand is convicted of crimes, even if they've spent their entire lives in australia. it is not good enough. they
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do deal and it's becoming a penal colony for australia and, and.

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