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tv   Boom Bust  RT  February 15, 2022 11:30pm-12:01am EST

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[000:00:00;00] with both these people learn from their own experience, how vulnerable of business is to the bank. so you push my business over the age, pushes me right to the bankruptcy. now i realize we will group. this isn't just the back that may be involved in this is the concept. see, firms is, is the lawyers, these people have got one of their stories at a walk whistleblower. tell people's marriages have broken up, lost their family homes. it is spectacularly devastating for people's lives. they have committed suicide, but left behind norwich,
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the explicitly state that it was the constant intimidation and billing by buying coffee sauce that led them to i took the spear, it's obscene, these people up nor saul 1st driven by a dreamer shaped by frontier some of those with who dares sinks, we dare to ask a
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with the this is room bus going visit show you can't afford to miss, i'm rachel, love it. and i bridge for and washington here is a we have coming up as the truck or protest continue in canada. the nation's prime minister is invoking emergency powers to deal with the gatherings. meanwhile, across the atlantic, the attempt trucker protest has fallen flat. later on, we'll discuss the state of the movement. then if you notice that housing prices have skyrocketed over the last year, well, you're not alone for this. just the surgeon prices and some of the largest markets in the world. we have a lot to cover. so let's get started. and we leave the program with the latest on the protest of truckers in canada who are opposed to vaccine and math mandates. katie and prime minister just intruder has taken an unprecedented step in order to stop the ongoing protests in this country. for the 1st time ever trudeau activated emergency powers that will include the ability to freeze bank accounts of
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protesters, as well as an effort to shut down crowd funding sites and take a name at crypto currency. now the emergency act passed in 1988 requires a high level bar to be invoked. it may only be used in a quote urgent and critical situation that seriously endanger the lives health or safety of canadian lawful protest do not qualify. and notably true del boys to support for farmers in india back in december 2020. when they were the ones protesting new laws and requirements that impacted their working conditions. canada will always stand up for the right of preschool peaceful protest anywhere around the world and were pleased to see moves towards de escalation and dialogue. anything more, i mean very worried about damaging relations between india and canada. canada will always stand up for, for the right, for preferred peaceful protest and for human rights around the world. and joining us now to break this down is boom by the co hosts, chris
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d. i and ben swan are about i want to start with you here. just at your dough says he will not be calling out the military, but he will be cracking down on the bank accounts of protesters as you heard there . he previously said he stood with protesters standing up to our lives there. peaceful. how far reaching are these powers? yeah, i almost feel like we should just sit in for a minute and just think on that statement less than 2 years ago. right? you're saying i, we, canada will always stand with peaceful protests. and then you do this, then you invoke the, this emergency act emergencies act and canada. it's never been used before in the history of the country. it used to be called the war powers act. the name was changed in 88, but it's never been used. and now it's being used, i want to run through just a couple of things that are included in this. this act gives the government the authority to override civil rights to restrict travel, to forbid all public assembly and to force businesses to act without compensation. essentially, it allows for
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a complete and total control of the government over civil society. and it can only be used in cases of rare and extreme emergencies. howard truckers blocking a bridge between canada and the united states. so severe of danger to the public that this kind of power is being invoked. it's absolutely insane. it makes no sense in them and the powers are very far reaching. we're talking about you know, the, the bank accounts of these truckers are able to be frozen. there is no court order required for that, which means the banks can just do it at will. and of course the banks are going to do it at will. they're going to do it at the behest of the government. and then of course, they're going after crowd funding, they're going out for crypto currencies, they can take away your insurance, they can take away your license, your ability to drive commercially and your ability to drive privately. so this is a very serious moment for canada, and it seems like an incredible over reach by the government there. absolutely, and we have to remember these protests have been overwhelmingly peaceful. so for
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them to take these steps is incredibly concerning. that's a very dangerous precedent. now, christie, part of this emergencies act, gives true to the power to freeze bank accounts and to monitor large and suspicious transactions including funds use for crypto transactions. so how would this work? considering the role of crypto currencies operate outside of traditional financial structures? well now canada is really trying to step up their crypto currency regulation. so as part of the emergency act, crowd funding platforms and payment services provider that include crypto exchanges and other crypto financing platforms. now my smell register with the financial transactions and report analysis center for canada. so that's going to be a major pain point now for crypto as this just who they need to jump through because of the peer to peer nature of crypto. it actually shouldn't matter because people are, should be able to donate directly to the campaign without going through a middle man. however, because of the lack of knowledge and how, know how of how crypto works, most people tend to use a platform like a coin base or
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a crypto crowd funding site instead of donating rather to the money directly. the other issue here is the crackdown on banks and exchanges. when you donate encrypt dough, unless the gas stations and food vendors that are that they're spending the funds on accept crypto. the group will still need a way to convert the bitcoin back into canadian dollars in order to use in stores and gather materials. that was the purpose of these exchanges. unfortunately, now as part of this act, these exchanges must also register with fin, track and report these so called large and suspicious transactions. so as of today, all crowd funding platforms and payment service providers must register with fin track and they must report all these transactions are here. and there should be a little bit of a learning curve there, especially for people who sign up to donate and don't know what all they're getting into now. but when it comes to crowdfunding sites, these powers also apply already. one bank td bank has frozen an account belonging to these truckers holding about $1400000.00. so on what grounds are they freezing
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these accounts? well in that particular case, it's because the governor of the province of ottawa, ontario, excuse me, the governor of that province essentially asked the court to intervene. the court ordered that gives sin go, which is the crown on site that was used after on me, the court ordered them to freeze the money. gibson goes, we're not going to freeze the money. and so instead of freezing it, the money has been seized out of td bank and it's being held, or td bank is offered to actually give the money to the court, which makes no sense at all. like, why would the court also confiscate cash but, but that's the way it's plain outlook. everything that's happening in this case right now it's, it's like that moment, years ago, rachel, you might be to your mom. remember this, but brent will remember probably the images of t n m n square, right when you're standing there and you see the one lone chinese guy guy standing in the street and a tank that has approached him. he stands in front of it, right? that is
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a moment that we're living in right now. what's incredible in this moment though, is that it's the media and it's the politicians who are the tank. right. all these people who talk about democracy or the tank wanting to roll over the top of peaceful protesters. we can't lose sight of the fact that the people who are protesting here have not destroyed buildings. they have not set things on fire or destroy businesses or hurt people there in most cases, it looks like a festival. half the time in ottawa, where people are, you know, they have jumping balloon set up in their, in their dancing in the streets. but the fact is, blocking a bridge is a right to peaceful protests. and it's, it's just as much of a right as when, you know, there were folks who were marching across bridges in alabama for civil rights in this country. and the idea that those people should be basically remove from society and have this kind of cracked down. i think it should send a chilling effect through every democratic country in the world. well said by now, chris, i am short on time here. but all of these issues taken together seem to indicate
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a complete choke point for financial support of these types of efforts. so what is the line between stopping the finance of terrorism and stopping the finance of legitimate protests and i have about 45 sack of laughter. well, right now, they aren't even making a distinction. they're calling of these protests in legal and their families, protests like terrorists, even though it's been nothing but a peaceful protests, a very effective peaceful protest that has cost the country about $500000000.00 a day and economic losses. so if this was actually just another peaceful protest with no cost to the government, then sure you can have all the freedoms and rights to somebody and protest, all that good stuff that they tout. it's all well and good. but as soon as it becomes effective protests with real pain, now they suddenly don't like it. now they come out with a new emergency act that they can temporary suspend, a citizen, right to free movement or assembly, essentially overwriting the charter of rights and freedoms. that is actually part of the canadian constitution, which is essentially treating the protesters like terrorists. they've made absolutely no distinction here. and instead they try to spin the fact that there
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are these potential that the funds raised on these funding part from could be financed by extremist group, even though they're currently is absolutely no evidence that points to the case. so it's just the case of the government overreaching in their power again, which i think will only further inflame the situation. boom by christy. i'm ben swan, thank you so much for digging into this topic with us and from truckers in canada to protest in europe while demonstrators in ontario have been camped out for over 2 weeks. protesters in europe were cut off before they made it to their destination. it was estimated that around $1500.00 vehicles made the trip from france to belgium, but they found police waiting for them when they tried to enter brussels. so some protesters finish their journey on foot and we're seeing holding signs and marching in the capital city. now, some are quick to point out that the police blockade of the city represent exactly why they're protesting in the 1st place. as a caravan follows protest against vaccine mandates that were hauled in the
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netherlands and in france were police use your gas on demonstrators. the ongoing unrest is nothing new, but given the fact that these truckers play vital role in keeping the supply chain running all their movement has put governments across europe on high alert. so to go further in depth in dr. hillary and professor of economics at lancaster university. dr. ingram, it's great to have you on the show today. now we know that europe is known for their approaches. so what do you make of the response from police to not let caravans of vehicles into cities like brussels or paris? well, i think this was very predictable. i mean, if you look at the case of from, you know, you're going back to 2018, we're back from the yellow bus and he does a little problem on. he made it very clear earlier this week, but it was really replication of what was going on and off to empower them to take
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can prime then that would be repercussion. so he mentioned fine. he even mentioned prison sentences. i mean mention the driving licensees will be tight and why and then very quickly, you know, from brussels, belgium and also made that position. similarly, claire, i did the. ready australian, so in some way i think, you know, you wrote was for, was the full pay me out for article forgot the president, mike, coming up for reelection in about 2 months. the last thing he really wants is the capital city sort of gridlocked in the run up to the polls with dropped the projects that he's most likely going to wait. and it definitely may be harder to stop, you know, hundreds of thousands of people on foot. but when it comes to driving trucks, that might be a little bit easier to stop that. we see that they've done that. obviously now we saw the truckers blocked the ambassador bridge, which served as one of the most vital supply chain link between the us and canada.
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what is the concern about the impact they could have had in europe if these demonstrations do continue or if they're able to maybe break through in some capacity? well, obviously, you know, you mentioned the optimal bridge and the industry that's been particularly hard. the us, most of the industry that was supply chain, not to do that anyway. and this is just exhausted by the problem and how the same thing replicated itself in europe and also, you know, europe, how supply chains blockages. and those wood was which i think would be very month to european recovery. yeah. and i know you mentioned the supply chain. i want to go further end up on that a little bit. we know that the last year has been marked by the shortage is really all around. so how have those disruptions impacted europe the economy and is it still in such a fragile state that it can afford for approaches like this one to continue for too long? well i think it is quite a makes to randy because you have to re genius. you look at the different countries
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. so in terms of your 2022 growth is predicted to be around 4 percent. but if you look at what happened in the last quarter of 2021, then the full change in the various countries diapers considerably. so if you look at germany, which is one, considered the, the power house of europe then, but actually contract if you know, the final point 7 percent. but nonetheless, it was a contraction because of course, germany is full of very big automotive sector. and the semi conductor shortages and also supplies to disease into the industry meant it was very badly. hey, spain actually grew in the last quarter of 2021 by 2, primarily driven by investment. but if you look going forward, then it's likely, you know, spain is call them a very dependent on tourism. they were lack the restrictions about non but when 80
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children. i think a lot of people are looking forward to a foreign holiday in 2022. so i think the prospects about that country are quite rosy. i think that's sort of ought to miss them, but not too optimistic if you're not going forward. so it does look like the only problem variance has not have been dramatic impacts. we expected the have been restrictions reimpose, but they've not been anything like this. one's in the class. it does look like we are slowly emerging out this, them, it, you know, they're all confused savings. but of course, one thing that is on the horizon, which is true for the not like for me as well. it playstation, so you know, it's predicted then you k, this is likely to go on, even in europe, looking at think us all 3 percent side. we're also facing pricing prices might
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nice to be through the energy sector. so i think ally, the recovery will continue. it's going to be some will slower, we might have predicted in the past. yeah, it certainly seems that way and we will continue to follow as all of those moving parts play a role in the economy over the next year. dr. hillary in lancaster university, thank you so much for your time and insight. thank you, bye and time now for a quick break, only come back, the red hot housing market continues the war on in the united states as global prices are also on the rise. we'll discuss it on that. and as we go to break, here are the numbers that the club with
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for months, the u. s. in the u. k. have warned, and russia may invade ukraine, and yet there has been no invasion for their part. the russian submitted abundantly clear. europe's current security arrangement is untenable today. hello saxon powers . talk to for russia, talks about security. join me every posted on the alex simon, sure. i'll be speaking to guess with the world politics sport, business. i'm show business. i'll see you then ah, bring you the very latest every out the day. this is all. no fun everyone help
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with with welcome back. as inflation has been taking hold worldwide, we thought we would take an opportunity to look at the booming housing market and the world's most expensive market. hong kong housing prices rose 3.3 percent in 2021. after stabilizing the final quarter of the year, prices in hong kong, still nearly double those of any major city canada, which is 2 of the top 10 most expensive cities for housing and vancouver in toronto . science prices jumped more than 26 percent last year. very well austria, which also has to top 5 cities in sydney and melbourne, saw an annual increase of more than 25 percent for the year in the u. k. housing prices rose at their fastest pace in 15 years, rising by more than 10 percent. and here in the world's largest economy,
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median home prices search 16.9 percent the highest ever recorded by the national association of realtors, which begin tracking the number in 1999. so let's go ahead and take a deeper look at the american market with scott walters is a realtor and sales specialist at berkshire hathaway. it's got pleasure to have you on the program now. we've seen prices here in the u. s. search since the onset of the pandemic in march of 2020, as mortgage rates felt kind of pub demand. but now rates are coming back to pre pandemic levels. do anticipate prices are ready to level off or even come down a little bit? well, that's the $1000000.00 question, right? my gosh, welcome to the wild world of real. i think the base that question did on the run ups, we just experience in the height of the, the by new orient. many would say we are and fax it right now, and it'll certainly be interesting to see where that goes. now, it doesn't seem like we are due for an issue like the subprime mortgage crisis that
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brought on the last recession. but do you see a housing bubble on the horizon and what would be the fall out here? yeah, again, i mean, it's the ality of, we're putting the real estate market through the biggest stress test. it's ever in, in modern hit street and really get our attention. i mean, the elephant in the room really is everything hinges on the housing market. if the housing market fails, everything and fails, you know, then the last housing bubble, the last one, we can look at away. one of the things that you know, like you mentioned, it was subprime more work. is that primarily the we know the cause of the last probably so now is be the, it's, you know, again, they're going to get ready to go up. you know, what's that going to do to this housing bubble? i mean, because the reality is that's not ignore, you know, the fact that this is whether you like it or not. it's the housing bubble because you know what happened with it all comes back demick,
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but we are seeing that the lending industry start to introduce those 5710 year arm mortgages, those adjustable rate mortgages to give people choices that you know, the 30 year fixed would be, you know, to have an interest rate. well there will it take us will rate mortgage again, but both options out there and what we are going to be a little trick. i hope with our lending practices, who in fact would get these loans are in fact out there. so i think that's something we really need to keep an eye on. absolutely, but of course, as we said, we would be more strict until we no longer have to be strict. and that's kind of the situation there go, i mean, what the impact of all those people. i mean, even if we look at, you know, the mortgage is to stay good, but there were a lot of people who rushed out to buy up houses in the last year and a half at 10 to 20 percent over asked price. and they would do it, so it is sight unseen. what happens if those prices drop? what's the impact going to be there? well, you would think not good, right?
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so the reality is, is, when the pandemic 1st, we all took a deep breath stage of watching. we took a deep breath, we like, oh my god, our life over and then the made it said dropped interest rates in the flood gates in fact open. and then what we thought was this complete, you know, buying you for real estate. bear bear eyer. heavy. we were way out of balance, you know, we like out of a healthy mix of hers and ours and completely got live bought out at the people that rushed out to buy. and the desperation and buying is actually really got my attention to be quite honest. first is that we're seeing people of bugged a pretty vap all un to 20 percent waving contingent c faction. appraisals are,
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in fact the at risk risk group is 9. you get through the pandemic. it all back to the pandemic with trans emulator economy. we overstimulate that, so now we're left trying to, you know, rise from the actions of that. but the reality is answer your question point blank . the at risk group in terms of the correction if and when it comes. people that bought the heights overpaying for the real estate, but the ones that would feed are asking in essence. so for scott, walter is a realtor and sales special, berkshire hathaway, we hope to have you back, and maybe we can get a little bit better of it. can actually get a little hard to hear you, but we appreciate, i know there's some great insight in there. thank you so much for your time today. and finally, if you want to be one of the next phase tours in your pockets while they're feeling pretty heavy word and galactic as an opportunity for you, sir richard branson, space tourism company has
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a now it will officially open up sales for tickets to the edge of space starting on wednesday, virgin galactic plans itself. $1000.00 tickets that $450000.00. a pop those who take the company up on their offer. we'll have to put down in an initial deposit of $150000.00. so just a little bit of small change there. now, while the flight may sound incredibly expensive, it's a far cry from the $55000000.00 bill. you would pay for a $10.00 day orbital space, ex flight. but with virgin galactic, you only get 90 minutes of enjoyment as part of their signature, air launch, and mach 3 booth to space. now, stock in the company when journey of it's own on the news. skyrocketing 30 percent on tuesday, but that barely makes it done on the losses. it is face since it came back to earth following branson's launch in july of last year. you know, it's interesting because we covered all of these big space launches. all of these billionaires going to bass and now they come to you and they say, hey, it's only half a $1000000.00 and you can go to space. i mean,
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i guess if you look at it in comparison to the $55000000.00, you'd say half a 1000000 bad. but it also kind of feels like this is what i've always thought with the branson. virgin galactic space launches is. it's kind of like a roller coaster with them, you know, you take off on a plane, you get the jet boost off of the plane. it's like that there was a superman film years ago who that got to try to do this similar idea. and i think like that's what that is, it's a roller coaster. i don't know if, but half a 1000000 now for a roller coaster is the way to go though. absolutely, and especially when you compare it to that 35000000. if you look at the fact that, hey, you're getting to spend 10 days in space getting a little bit more. well, i get some more bang for your buck in some ways. but in this case, it's like you go down and pretty much you're getting those bragging rights and you're getting to say that you were a part of making, at least it's making history right now. yeah, i mean that's what i was. so i was just thinking is it's making history, but it's making history for right now. i mean, when they sell those 1000 tickets,
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when they complete those 1000 transferred, i guess they're probably be what, let's say the math on that is 200. some they might go maybe then that's going to be a little bit of everybody going. yeah, we've seen it. we've done it. we, you know, it's not that exciting. i don't know when that next innovation is going to get is going to really impact young people who haven't been as involved and interested in what's going on in space 5 years from now. they're going to look back and watch this upset of been less than think that we were crazy for thing. this is called because it really and that's it for the time you get boom by demanded. the portable tv app available smartphones and tablets, google play, and the apple app store. by searching fordable portables, if you can also be on samsung, smart tvs and roku devices, or simply check it out at portable dot tv. will see you next time
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with ah, these people learn from their own experience. how vulnerable of business is to the bank. so he pushed my business over the age, pushes me right to the edge, bankruptcy. now i realize we were good. this isn't just the back that may be involved in this is the concept. see, thumbs. it is the lawyers. these people have got you want other stories at a walk kind of whistleblower. tell people's marriages have broken up and lost their family homes. it is spectacularly devastating. for people's lives, they have committed suicide, but left behind norwich. they explicitly state that it was the constant intimidation and billing by buying coffee sauce that late them too. i took the
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spear obscene these people up nor sold now and i make no, no borders. just slide number t's and you as a merge, we don't have a charity, we don't have a vaccine. the whole world needs to take action and be ready. people are judgment. 2 common crisis with we can do better, we should be better. 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 massive. so many good people are helping us. it makes us feel very proud that we are in it together with
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ah, with headlines right now here. we're not the international west to white binding. it's war drums with the u. s. president and 5th thing that the threat of a russian invasion of ukraine remains very real justified. moscow announcing it was wrapping up drills along the border and providing videos of the departing trying to verify with uncertainty over ukraine, pushing up energy prices, germans farrah shortage, and electricity supplies could lead to nationwide blackouts. here at our feet, we listen to the politicians continue to act like they do in the foreign policy with russia and other countries. blackouts may happen, the problem is politicians are afraid of not being elected. if they do something

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