that's where europe really needs this energy. so at this point, it's really about figuring out what is the best way to move forward. and the truth is, they don't like this because because many of these countries do want to move to renewables . but the way to get that price down is to sign long term deals that last $20.00 or 25 years, not doing the spot market pricing. and certainly as interesting to see how long are going to let this go on, especially as people are paying increasing prices and the temperatures aren't getting more and more anytime soon as we go along with this season. now christy has been mentioned, the leaders of china and russia will meet remotely. so how important is the u. s. dialogue with trying to specifically during the series of meetings? i mean, this is going to be a very important meeting with all eyes on the u. s. and how it handles its relationships with not only china, but also the rest of the world after spent the last 4 years focusing on this american 1st agenda. so china and the us are expected to

so the real income of workers in europe is rising. that's a testimony to a lot of things, but it includes the much stronger position of their labor movement, which is able to make things happen there that we don't have here. and i think that americans are learning that they're looking fondly and enviously, and they're going to be moving in the logical direction to get closer to that. now we're speaking of the timing here. i mean, we've obviously been talking about huge supply chain constraints recently as all of this goes on and we look at strikes that, i mean, john deere, catalogs named best go just to name if you could, these cause further issues, they actually get employers to listen more so than they would have in the past. yes, but i think what we have to look at is, is to be a little careful here. and a little economics, basic economics prices rise. when the people who set prices choose to raise them, those people are called employers, employees on set prices, employers do. and when employers raise prices as they are doing now a

now let's go over to rachel for europe in the americas. thanks, fran. it's more of the same here as we start in the u. k, with the green arrow for the foot. see the index is out nearly one percent for the week with heavy weight minors and bank stock leaving the gains. however, the bank of england is already warning. markets could be improved sharp correction in the near future. if investors reevaluate the progress that has actually been made during the recovery nearby, the german docs and the french kac ended the week in the green. this, despite both taking a hit on friday, as soaring energy prices, keep inflation at 13 year high. the use energy commission is now saying the has enough gas in storage to last through the winter, but it is calling on individual states to provide relief to consumers as prices continue to rise across the atlantic in brazil, the best buy is up this despite new report showing annual inflation in the country has hit double digits for the 1st time in over 5 years. brazil central bank says it believes inflation peak in september

and with europe heading into winter expect natural gas prices to get even higher. now the question on everyone's mind is, will the astronomic energy prices carry over to the u. s? and the answer to that portion will alternately depend on what a winter weather brings. but the good news is that the u. s. is the world's largest natural gas producer, and inventory levels are not as depleted as they are in europe. but that's not to say that us prices won't be volatile. just take a look at the current oil prices, which has made gasoline prices. sky rocket, and with old pagan not increasing, supplied. don't expect gas prices to come down any time. brant rachel? r d corresponded, sighed savage. thank you so much for following the story. tell us, take a further look at those oil prices, which stayed at 7 year highs on monday with west texas intermediate surpassing $81.00 a barrel. it's the latest in the series of skyrocketing energy prices that are now causing concern about how they could impact the state of the global economic recovery. so joining us as co host kristi i an

that is unknown right now as a supply and demand balances in a very carrier spot, europe and asia. they're facie shortages right now, especially as you get into the winter, which could potentially be dangerous. production isn't something that you can just stop overnight either. so it remains to be seen if fears of this 4th weight materialize or not. because if it doesn't materialize and we remain utilizing oil and gas at the same clip at this summer. now we'll definitely see a crank and prices rising to reflect that. and the thing is that it's kind of our fault, the usb pull back on production because of being emissions and the green agenda. europe also did this, that same thing. they, they slowed down on coal burning plants in order to put down emissions started china. and so basically we kind of dug ourselves into this on whole by trying to come out this green agenda when we weren't ready to make this have it yet. and we'll continue to cover this story. boom bust, chris, the i thank you so much for your insight. today, thank you. the biden administration is set to reengage china

ah, welcome back in the face of an ongoing energy crunch that is taking its toll on europe and asia. russia is again denying allegations that it is using energy as a weapon. a group of the law makers has gone as far as to call for an investigation into the russian energy giant gas prop. as they allege that moscow is behind the skyrocketing natural gas prices, in an effort to push for the certification of the north stream to pipeline. however, russian president putin argued that europe is not paying attention to reality during an energy conference on wednesday, he noted that russia has always fulfilled his obligations to europe, even at the height of the cold war. russia, as deputy foreign minister also said in an interview that moscow wants to work with europe to achieve energy security. and he revealed that guy's prompt has already started using supplies from its own reserve, in an attempt to help stabilize the market. morgan stanley has upgraded china's property sector to attractive, which is surprising, considering how worried investors are, as they are closely watching, to see wh

and the things that she says in back in september when inflation hit about 3.4 percent in europe used to be came out and said, we're going to curtail up on purchases. now we're not going to, we're going to slow that down. now she made it clear to the world that was not a tapering, but that was a re calibration. and so we should take heated that she wasn't saying we're, we're not staying in the course at now. she's come out and said that the models of the c b really strongly suggest that you can face is going to come down well below the 2 percent target. so we shouldn't worry. so i think the c b is a bit behind the fed. the fed had said few months ago, the inflation was transitory. now they've changed the tune saying it's going to go into next year in the middle of next year. sometime the e. c. b is a few months behind that they're still saying this is transit. we don't worry our model say inflation is going to come way down. i expect, by the end of the year, the be to, to be admission that inflation is to stay around for quite some time to come. and so i think yes, that definitely pla

ah, the math is in wounds europe against trying to reach carbon neutrality. it rushes expensive into major gas prices. in the u, the russian president also blamed europe's preferred method trading, making it vulnerable to the current surging prices fall within the u. s. cell phone lines emerges, some member states increasingly sing, read over these determination to go green and so on. i think the santa marine faces potential trial for daring to criticize president bonds, africa pull out despite another officer being hailed a hero, 2 years ago were attacking donald trump.

europe. we will gladly misses every month because limits of them will issue to 30 tariffs are increasing grain. you take ukraine, the same nuclear garage and use the problem was solution and use you. i think that they will pay about $200.00 per 1000 cubic meters, while their average income per capita is $230.00. it was because get the cookies who consumers.

there's been a lot of pressure this past year for energy to go greener in europe and even in china and india and china and india have had to back off of shutting down coal fired plants, simply because they're worried about energy shortages and potential lack of heat for millions of people during the coming winter season, so those cold fire plan, so now back on stream that should help in the short run. alleviate some of the supply shortages coming out of china plants. excellent insight, boom bus, spend swan and dean john, quote, my year business school. thank you so much. thank you. and if you've followed any news coverage in the last year, you've likely heard the term inflation more times than you can count. probably said it a couple times the last time, but in the united states and for that matter, the entire world headed for hyper inflation. well, that may be the case if you ask twitter in square. theo jack dorsey, just the twitter over the weekend to warn quote, hyperinflation is going to change everything, and that it is already happening. he then responded to another user to say,

ah, beth lines here one r t international natural gas prices in europe hit. the new wreck holds sending household bills of skyrocketing and putting the pressure on government to green light. a brand new russian pipeline. facebook denies are whistleblowers the claim that its spreading. hayton weakening democracy, while us senators call for tougher controls on big tag. it is the latest sign of a tide turning on social media giants a decade after they were hailed for bringing about the arab spring. or the u. s. republicans cry double standards as a marine is court martial, cuz slamming the biden administration's handling of the afghan pull out.

but another supply chain crisis is surfacing in europe, as e u. leaders are sounding alarms that a shortage of magnesium coming from china could take a toll on the blocks economy. now china produces around 87 percent of the global supply, and the essential component for aluminum alloy is used in cars, plains, and electronics, and roughly 95 percent of the night near the end that europe consumes. german chancellor angle of merkel brought up the issue on thursday during a summit of you leaders accord sources familiar with the matter quoted by several outlets. meanwhile, a dozen business groups worn late last week of an imminent risk of europe wide production shut down. as they only have enough of the metal to last through the end of november, the chinese producers of course have cut output to save power and energy prices have skyrocketed due to the crunch. we've talked so much about in recent months. so what does this mean for the already strain global supply chain? just let's bring in boom bus co hosted investigative journalists, ben swan, and john, quote, the dean of the miami herbert busin

then there is a europe that's battling a record breaking surgeon energy prices. now for europe and mix of market geographic and political factors have formed into a perfect storm that shows no signs of slowing down. and it all started with e use promise of cutting down on his long time dependency on fossil fuels. but natural gas and coal still supply more than 35 percent, or they use total energy production. and while cool is being a phased dad, europe is currently relying on natural gas as a transitional resource, y, cleaner alternatives. there being rolled out, which in turn has made the price of natural gas also skyrocket at a price hike of more than 360 percent in less than a one year. now to give our viewers a better picture of the price spike in natural gas, it's actual equivalent as if the price of crude oil were trading at about $200.00 per barrel. and with europe heading into winter expect natural gas prices to get even higher. now the question on everyone's mind is, will the astronomic energy prices carry over to the u. s? and the answer to that portion

there was truly, we've seen natural gas prices in europe, go through the roof only in europe. so that's not been the case as much in north america with asia. the gas pipe very much, much more muted that that's to do with sort of the local demand supply in europe. and i think that will work itself out. the tick is mostly into the pipeline comes on line. that should work itself out eventually. but yeah, we're seeing basically power country shortage is all in this place. i think what we're seeing is sort of all the conversations that we've seen pumped in the market leading to much, much higher prices. right across the board for everything. and people just starting to adjust to that and they're not willing to pay the much higher prices for the input. the trying to hold back and say, i'm not willing to pay 20 percent more 30 percent more from stuff i used to get much cheaper than the part of that's going to have to change. you're gonna have to bite the bullet basically, and that, except the inflation is just gonna be part of the landscape from time to come. yeah, it really does see

now let's go over to ben for europe and the america here in europe. overall, it was a positive weak. most of the european exchange, a saw a bump, especially on thursday, getting a boost after senate majority leader. mitch mcconnell offered a way to temporarily get past a looming deadline for the u. s. debt ceiling to be raised. as a result, positive news for the foot see which had a very good week. the london exchange is experiencing a boost from corporate buyback programs. it was the same story for the german dax and for the french cat, which also saw big games thursday into friday. moving over to south america where brazil's evil vessel is also up for the week, thanks to a strong performance by brazil real. the nation's currency rose on thursday as data showed service sector activity grew more than they expected, headed over to north america now and just like the european stocks north american stocks were up as well, mexico's b and v, the u. s. s. and p. dow and nasdaq, they were all up with a jump on thursday and then carrying through on friday on

the energy crisis continues to hit the economy's across the world, europe and china. they increasing shortages with winter quickly approaching. well, this guy, and we discussed the great facebook blackout as we look at how the social media giant nightmares week, just keep getting work. we have a lot to talk about, let's get to it. really the program and the latest from a former facebook data scientist turned to whistleblower, who testified in front of the u. s. senate commer, subcommittee on consumer protection on tuesday saying the company was aware its products were harmful to young people. i'm here to day because i believe facebook's products harm children, stoked division and week in our democracy. the company's leadership knows how to make facebook and instagram saver, but won't make the necessary changes because they have put their astronomical prophets afore people. congressional action is needed. they won't solve this crisis without your help. i saw facebook repeatedly encounter conflicts between its own profit and our safety. facebook consistently resolve the

i think that's what you're going to see across europe and across across the u. k. well, natalie is make it easier because you will have less transit time was. you will also be a little bit more easily communicating your issues for sure, and that's help with local businesses. they go to a local station. and now we've often talked to you obviously about the prospects that economy in the u. k. and it seems like when you look at this and her kind of rain, the alarm about globalization isn't the kind of what got to send to breakfast in the 1st place. they were saying we want more autonomy in our trade in our economy. i actually find it somewhat hydronic the all the global as to now land boston globalization. because yes, there are many issues with many issues that make it not work. so with regard to the u. k, of course, yes, the more trade deals that the u. k. does out of the autonomy that they now have, the more they're doing the opposite of what it just said, they're not putting all the eggs in one basket, the diversifying that going across the globe. the you isn't do

businesses are also concerned that supply chain issues could take a toll on europe. the economy moving into the highly lucrative holiday season. joining us now discuss is hillary orbit. she's board member with the british american business association and president of straw mark business development consultants. hillary. i want to start with the concerns being brought board by with guard here. how has the globalization of the you trade made it more susceptible to supply chain was well, pleasure to be back with the brand. and of course, a lot of this is to do with all the trade that the you dealt with china about 22.4 percent of all goods going into the you come from china. so when you have a global supply chain like that, with a pandemic, it's obviously going to have intense glitches. one of the things that's happened, of course, is that if there's even so much as one worker in a chinese factory or in the chinese port that is testing positive cove, it the entire factory of the entire port to shut down. that has caused immense amounts of, not just glitches, but all yo

i mean, when we're talking about central banks, whether it be the 3rd reserve or over in europe, is there anything they can really do at this point to stop sort of the storm that is really been building over the last year? well, i think they also pointing the finger as a supply chain disruption, letting us more cover, more than anything else for that monetary policy. and i think we see this passion with central banks as inflation starts to take off the 1st elements transfer. don't worry is going to go away soon. it's going to be here for a few weeks, a few months, and then we'll get back to normal and be fine. then they start say, was sort of multi causal, that all sorts of different factors involved and to be complicated, i understand it, trust us. and then finally the government sort of step in said ok. now we need price controls and export controls and, and then re wreck the car. and i think that will not sort of pass. so i think the supply chain disruption, see, are just a result of monetary policy and the kind of pumping money into an increase in price that was seen at this, not that

europe stands at a crossroads will remain dependent on washington as a junior partner, or will europe opt to play the role of a great power on the world stage. in with the, the, the, the, the welcome back cybersecurity experts and microsoft on monday worn. the hackers are targeting the global technology supply chain and a blog post tom birth, the tech giant, corporate vice president of customer security and trust said nobel again, the group behind the solar when cyber attack is attacking a different part of the supply chain retailers and other technology service providers that customize, 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 an

for aluminum alloy use in cars, plains and electronics, and roughly 95 percent of the meg needs in europe consume. german chancellor angle and merkle brought up the issue on thursday during a summit of you leaders, according to sources familiar with the matter quoted by several outlets. meanwhile, a dozen business groups worn late last week of an imminent risk of europe wide production shut down. as they only have enough of the metal to last through the end of november, chinese producers of course have cut output to save power and energy prices have skyrocketed due to the crunch. we've talked so much about in recent months. so what does this mean for the already strain global supply chain of just let's bring in boom bus co hosted investigative journalists, ben swan, and john quotes the dean of the miami, herbert business school. thank you both for being here. d quotes. i want to start with you how big of an issue is this magnesium issue and what impact could it have on the recovery in the us actually in the blocks largest economy in germany, which is so manufacturing, industrial rely. yes

now let's go over to rachel for more from europe and the americans. think brent? here we start in the u. k. where the foot the is down. this despite rally on friday, after the latest data showed unexpected growth, the purchasing managers in next rose to 56.8, marking its highest points and back in may, thanks to gains in the services sector. however, the bank of england is now warning that inflation could hit 5 percent early next year. nearby the german dax and the french tac are both in the green, but europe's 2 largest economies are feeling the pressure of the ongoing global supply chain shortages. and both businesses and manufacturing have taken a hit as a result. in fact, producer price inflation in germany has not only reached double digits, it is now hit record highs. the pressure is on for the european central bank and its upcoming meaning to see how officials will respond. now across the atlantic. in brazil, the echo vast is down. it has been quite the weak in the nation as a central bank has expanded currency swap auctions in an effort to save the reality

europe stands at a crossroads. will remain dependent on washington as a junior partner, or will europe opt to play the role of a great power on the world stage. with with this is in by so in business a can't afford to met. i'm ready to love it and i'm ready for it was, it did coming up the united states battle on the text front has taken another turn bar in china, telecom from operating with border great ad we discussed with development. and what it means for relations between the world to largest academy and our to track beginning to show in the red hot crypto trading sector. we'll discuss the new front here with a range of opinion. then paul is making a come back with nations turning to the fossil fuel as the energy current continued to impact the global recovery. we'll take a look at the latest attack here today. so let's get started. can we leave the program with the latest escalation and tensions between the world's 2 largest economy? if you thought that the war between the u. s. and china, over telecom techno

conference on wednesday, he noted that russia has always fulfilled his obligations to europe, even at the height of the cold war. russia, as deputy foreign minister also said in an interview that moscow wants to work with europe to achieve energy security. and he revealed that gas problem has already started using supplies from its own reserve and in that time to help stabilize the market. morgan stanley has upgraded china's property sector too attractive, which is surprising, considering how worried investors are, as they are closely watching, to see what happens with ever grant. the world's most indebted company because it might still default. and if it does, whether or not there will be contagion u. s. investment banks, that it believes that policy easing of the property sector looks likely to kick in, which will support chinese real estate stocks that spring and boom, us co host, christie. i enjoyed both my and her business school to discuss this with us and to sniff out what is true and not true didn't go out to start with you. home cells in china, they are weighed down. that's n