now if you take energy out of that, you basically hop the europe innovation down to $1.00. so that mean energy prices in particular, natural gas which went up about 15, but just in august, a driving inflection more than anything else in europe. so the prices of the place and food and vehicles and reynolds and things. and that's all because subdued rate . energy is when you're striving natural gas. so it's a councilman, half of the place level in the european continent that's quite strong to see that. and i probably, you know, a lot of times when we talk about cor inflation versus overall inflation, we take those energy and food prices out. and that's because energy obviously fluctuate as demand fluctuate due to different season. but in this situation, when we're actually looking at kind of a shortage, should that we take more into account in inflation when you're trying to kind of decide policy based on that? well, i think policymakers like to take any price is going to make it look like reflection on there's a lot increasing this quickly reality. so yes, once you take out

meaning that you have fewer shipment traveling to europe from could tar. so as shipments of gas have turned from europe toward china, flows of pipeline gas to year from russia has failed to make up that shortfall. russia has been slow to deliver the pipe natural gas to the region, which raises a lot of questions on whether this may be a deliberate move to bolster in case we're starting to close the the noise stream to pipeline. and now octavio, there's a lot of concern that the soaring energy prices we're seeing across europe will make inflation even worse now, while proposed aid packages may actually help consumers pay the higher prices. how do they tend to impact inflation? well, i think just a mathematical certainty, the high energy price of 9 gas prices have lead to high inflation numbers. and you can see the very, very clearly in the face numbers for all that came out a few weeks or so. and let me go ahead and print the set. now if you take energy out of that, you basically hop european inflation rate down to $1.00. so that mean energy prices in parti

commission has been responsible for a lot of this delay which is worse than the pandemic in europe so you're seeing a lot of dissatisfaction with the european commission that has been predicted for many years and this is coming to fruition now only for the rich. strome our global business development consultant and ben swan blue bus coast thank you so much for breaking this down and a quick note before we leave today jeff bezos just announced that he will step down as amazon c.e.o. later this year and be released really place by 8 of us c.e.o. andy jessy he will still hold a part of the company as well as being the authority shareholder that's it for this time you can catch boom bust on demand on the brand new portable t.v. app which is available on smartphones a tablet to google play in the apple app store by searching portable t.v. or t.v. can also be downloaded on newer model samsung smart t.v.'s as well as broken devices simply check out the portable dock t.v. we'll see next time. look at the believe the key smear those who really can show you. that i suppose you noticed that us t

is boom bust the one business so you can't afford to mess i'm rachel leavens in washington coming up europe is imposing new restrictions on vaccine exports with a visual saying they need to focus on their supply of home just as long as it's not . a lot of the car accident off the coast of egypt is hitting the world's oil supply and it's estimated that around $13000000.00 barrels 30 impacted so far that is one of president trump planning a comeback in the form of his own social media platform and what can you expect from it one of the best at all that we have a lot to get serious for let's get started. german chancellor angela merkel is now reversing orders for a strict lockdown over easter weekend after the plan to close shops and churches was met with overwhelming backlash. she is one of many leaders across europe looking at a rising 3rd wave of cove it may seem while the clock struggles to meet vaccine demands if that crisis which says is prompting new restrictions on vaccine exports as it struggles to provide for its own citizens officials have largely placed the blame on astra zeneca fo

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 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 don't set prices, employers do. and when employers raise prices as they are doing now at

yes, there is of awesome between eastern europe in western europe. europe. you're totally right though about the government's wanting to stay in power. you also have to look at who has benefited follow the money. the pharmaceutical stocks, the fangs, docks, 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 go to a conservative one in the u. k. got a left leaning want in the u. s. they want to stand 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, fewer 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 i an acrobat cross that he's a bulgarian political scientist. and he said, don't forget the eastern europ

is planning to do there are 2 things europe is particularly planning to do number one is rather than budget constraints and worrying about the economy what they're actually doing is they're encouraging different countries to spend and they're encouraging that spending and they're also now considering and actually issuing a recovery fund and that will be something like $950000000000.00 in terms of recovery aid to the hardest hit of the countries in the e.u. and also a vandal laden of course was of the european central bank is very correct in saying we're really borrowing our children's futures this is a dire situation to be in because obviously what they're doing is they're leveraging and borrowing against the futures of all of those european countries what you're beginning to see in europe is a lot of civil unrest just saying i've predicted for many many years. and you are seeing the swedish party the independent party really. the advocating that the mismanagement of the vaccine rollout from the central european. commission has been responsible for a lot of this delay which is worse

they're not going to sacrifice that for a big if the relationship with europe, especially because europe can get its own act together. britain won't go with the rest of europe. spain doesn't go with france and germany on half a dozen issues. i mean, you're not, you're not making any logical sense. she's spinning the woman in the leadership role. she's spending an image and i hope, but there's not much substance for us to hold on to here. okay, so she got some big dreams and were just waiting to see if they actually play out. now. christy another part here is the fact that the commission president also proposed a ban on sales of products made using force and labor taking a direct shot at china over allegations. the chinese government has repeatedly denied. now this is a criticism we continue to hear from world leaders. so how is being responding to the latest claim? i mean, this is another big show, a political theater. it shows that the west is kind of taking a hard line approach to china. now that it's become an economic powerhouse, but it still has less of a hard line than that of the

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

and their experience of getting through this pandemic might be different from what people have in europe the united states the rest of russia but it's hard to tell that it didn't work out at the end of the day so this is it were a flight out of back to moscow and what that means well for one that means that i have to put my mask back on. when we watch movies that i think they typically make us worry about the wrong thing they make us worry about robots turning evil you know what the real threat of the past artificial intelligence is long but it turns evil but just that it turns very competent but has goals that are not aligned with our goals. so what we've got to do is identify the threats that we have it's crazy from day shouldn't let it be an arms race is on the off and spearing dramatic development only really i'm going to resist i don't see how that strategy will be successful very critical daryn time to sit down and talk. business boom bust the one business show you can't afford in this i'm rachel blevins in washington coming out here up is imposing new prescriptions on vaccine expo

explain what is actually happening in europe currently. yeah, well, you know, we've been saying kind of tongue in cheek here for the last few weeks and months that winter is coming will now winter is here, right. the, the temperatures are in europe are falling dramatically. that means the need for more energy for heating is on the rise and the price of natural gas is on the rise . this. and there's a couple of really important points here. you mentioned about, you know, $300.00 euros per megawatt hour is what most countries are paying. but some countries like france or pay even higher than that closer to $400.00. and here's what's really incredible about all this is that europe has been for several years now. been buying their energy on the spot market, which means they don't have long term contracts a long term deals. this is been a huge criticism that russian president vladimir putin has had about europe. he criticizes the fact that they refused to sign long term deals with russia in order to bring down the overall price of natural gas.

so that's around half of russia's total export to europe a year. but by itself more, it's going to have the capacity to need about one 3rd of the use import requirements. so it will definitely have a big impact once it's up and running. but currently, russian and german regulators are currently in a debate as to whether new regulation supply that were put in place after the pipeline was given its final investment decisions. but i looked today, and i don't think that the start of a flow on the really reduce prices and having effect this coming winter. it looks like that you is going to be stuck and locked to do some pretty high prices throughout the winter, particularly once we hit january, february and the reserves get increasingly depleted. now octavio, we know that norway has said that it would increase its exports at the same time. we're looking forward to the north stream to pipeline. but how does that pipeline play a role in this shortage and in it possibly continuing into the winter? well, i think central wilson grew pipeline. bear in mind, t

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 or 25 years, not doing the spot market pricing. yeah. and certainly as interesting to see how long they're going to let this go on, especially as people are paying increasing prices, i mean, the temperatures are getting more mer 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 that's 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, in the us are expected

zeneca shows an average of 70 percent of efficacy across both doses there are currently concerns in europe over the safety of the vaccine for the elderly populace population with all of this in mind let's go ahead and take a look at the global vaccine rollout with our 2 correspondents i attended your sarwari so i ran 1st i want to continue something about russia and putin agree they were just talking a valid that you know all along they were saying that this would not be at a very high efficiency against called in 1000 but if you recall russia also faced a lot of international criticism after the vaccine was 1st approved before they actually have released their data from clinical trials now they have. since released their data which was published in a medical journal would you mention the lancet and that was based on clinical trials conducted on 22000 people now not only does it have a 9.6 percent efficiency but it also shows to not cause any serious side effects so that's huge plus wouldn't it be all a shot does not need to be placed in a freezer which has made other vaccines logistically

in time which means the next journey around is going to be delayed up into europe and while the canal is also a transit point for roughly 8 percent of global natural gas the blockage will add to an already rising middle east risk premium for oil and refined products and analysts say the delays could increase shipping up to 30 percent and a pro long disruption could impact close to primarily the european market and then the cork comes out as almost like a ketchup bottle then you get both all the vessels in the queue and the additional normal vessels coming into the northern european ports at the same time. so the longer this lasts the higher the risk that we're going to see massive congestion problems in the european ports say a week to 2 weeks from now now experts say it's a bit premature to assess the full impacts arising from the incident but they do predict that within the near term the blockage is likely to add to industry supply strains causing further delays meantime experts are investigating exactly what caused the ship to run aground reporting for boom bust trinity chavez r.t.

europe is facing a major shake up as certain teams announce its creation every new super elite so will the backlash be enough to stop the deal with billions of dollars at stake well discuss it all next we have a lot to get to so let's get started. the state department is now warning americans against traveling to just about anywhere else in the world and a new guidance that puts 80 percent of countries worldwide on the do not travel list they plan to add 130 new countries to the category which is currently at $34.00 and it already includes countries such as kenya brazil haiti and russia the state department says it is working with the guidelines set by the c.d.c. but the update comes as top airlines across the u.s. report their earnings for the 1st quarter of 2021 and despite an increase in domestic travel over easter weekend the ongoing restrictions worldwide are still having an impact take united airlines for example which posted a $1360000000.00 net loss for the 1st quarter of this year on $3220000000.00 in revenue that 60 percent less than the 8000000000 dollars that jenner. rated

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

but coming up short in europe they call the actions they are taking a last resort the communication of the companies difficult and all the attempts which been done and all the levels from the president of the commissions to the commission the responsible for how it's done to the director general. to resort to the legal action because simply you don't know what else you have to do because if you have quite a few member states who. start to see all. the new restrictions are supposed to be in place for 6 weeks but numerous questions around how the new plans to change course now after the block was slow to negotiate with the drug makers and then put stock in the companies like pfizer and astra zeneca only to be told they couldn't deliver but while european officials openly say they need more vaccines they are also telling russia that there is absolutely no need for the sputnik the as multiple nations within the block move forward with plans to make the russian vaccine available in europe in response to russian president putin question whether the e.u. is acting in the best interest of its

in this is going to have a massive impact on production on availability of goods in europe and in asia and while the 120 mile canal between the red sea and the mediterranean is the shortest route between asia and europe operators are now forced to reroute more than 150 ships waiting to pass through sending them on a 2 week extended voyage around the southern tip of africa further to the domino effect a vessel stock right now also swiss gets to late before it gets out to asia that's going to take it another month before it's out there but if the vessels don't make it out asian time they are of course also on able to commence that next journey with cargo from a ship back to europe in time which means the next journey around is going to be delayed up into europe and while the canal is also a transit point for roughly 8 percent of global natural gas the blockage will add to an already rising middle east risk premium for oil and refined products and analysts say the delays could increase shipping up to 30 percent and a prolonged disruption could impact close to primarily the european market

how, what the effect will be across europe. and then let's look at the, on the, let's look at the underpinnings of the greek that and the italian debt. i think one of the reasons that are mis legato, mr. lane, they have to say this is they are trying to keep, we have to look at the political reasons been, they are trying to keep the you together and they're trying to calm everybody. so they don't want to talk about the fundamental real underpinnings of issues, which will be the greek and the italian debt versus the surging inflation in the german economy. i think that's the issue. it's the disparity between the nations and what they're, they're actually actually experiencing economically. it's that this bounce the disparity which they're trying to cover. and they wonder why we don't trust anything they say when they keep lying to us and then telling us just believe it. and every prediction turns ally on a strong word, let's say, trying to keep the peace and try to keep up with the cobra. with all their political persuasion, the

could you mean europe and providers rehabilitation services the are you not? packages get stupid russian armed forces that have conducted an almost 100 percent vaccination campaign that has held to the cut down on the number of cases protecting the lives and health that the service men and to ensure the high combat readiness that the are we, we know that have been seminal severe cases in the armed forces and there are some not combat casualties, but overall of armed forces have that lean able to rise to the occasion going into the building. it's william in them with the military buildings units. how far away in lena, delivering issues with video, with the sites on time with a fur help to, to provide water to what you crimea to it's capital sebastopol they held to bid is multi service mater. functional centers, sir, was really michel aim for those in the medical services. so the news about didn't you that we rely on the ground wordlessly built over the past years on and little progress that's been achieved in science and technology. we need to continue upgradin

now take a look at this list. travelers from europe as well as the u. k. china, iran, india, and brazil are all prohibited from entering the u. s. within 14 days, or leaving any of these destinations now. those traveling from restricted countries will hold a green card or are an american citizens are allowed to enter the us with a negative cove in 1900 deaths taken within 2 days of traveling. but everyone else, however, is barred from entry. now this also includes visa. 8 holders who live work and pay taxes in the us. now this measure has been in place since the beginning of the pandemic and has yet to be revised, even as rates of transmission has dropped into you. and as we see large parts of the us population has been vaccinated. so as things stand right now, the rationale behind maintaining the restriction list is rather unclear. brent archie correspond size. tabitha? thank you so much. had time now for a quick break, but when we come back, the millionaire club has grown over the past year despite the cobra 1900 hand demik and the economic fall out.

busy the russian government that this is an issue between europe and gas, prominent questions on this whole subject, well shouldn't be directed towards the kremlin. they need to go to gas prom h q to mr to serve. what is the reason for the decrease in gas deliveries via the mile? your pipeline with gas now going in the reverse direction. is there a link between a suspension of supplies the germany, and the north stream to pipeline it up? so no, there is no link. it's a purely commercial issue and it's up to gus prompt to explain the reasons well, when you look at the prices, it's clear to see why this is such a big su, $4.00 to $4.00 and a half time increases across europe when it comes to gas prices. as i said, huge demand for russian gas in europe at the moment, it had been hoped that the, the nord stream to gas pipeline would be able to, to slake some of that thirst for gas. the plan was that that would be able to provide as much as 55000000000 cubic meters of gas every single year, directly into germany, and then on towards the rest of europe. however, it's found itself snarled op

mosque the putting toxic rhetoric over the role of radical islam at the heart of europe. can send up has been brought in to deal with the growing global rules.

so amazon has long ago had to accommodate unionization in europe, italy, spain, france, germany, the big countries of europe are, it believes it can hold on here, but that's kind of the mystery of it all. why they fight so hard here, since they've made very good profits over in europe, even though they've had unions from the beginning. you know, that's a really good point. i know that that's something that we've talked about before has been just how much power amazon seems to have here in this country. a lot of it seems to come from the fact that they get former u. s. government and members that then go on the board of amazon, do you think that it all comes down to sort of their lobbying arm that has allowed them to have so much power? yeah, i think it's the lobbying arm, but i go take a step further. europeans are committed to unionism, they've been committed for a long time. it's much harder to get the politicians there to be anti union. an awful lot of the people in those countries believe in unions, not that they on critical. they are sometimes, but they believe the workers get a

and then again, it depends where you're talking about in europe. because in certain countries, you mentioned the percent or the percentage that they will accept the e. c. b. germany, of course is way up. maybe like over 3 percent and that was ruled is unacceptable and not strict. so the e. c, b, have many different countries with many different levels of inflation. yeah, it seems like across the board, it's higher than what we're being told over and over. yeah, you're talking about some of the issues here that are driving that inflation right now. at least that's what we're being told. right. and yet, i don't one single person in any position of authority in europe or in the united states who is recognizing, or at least acknowledging that the vast printing of money around the world. these huge stimulus programs that have been pushed into place or having any effect at all. in fact, they're pretending hillary that one has nothing to do with the other. how are we supposed to believe that? well, yeah. now we're getting back to what the experts are sayi

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 or infuse, and harley davidson motorcycles. leader is from both sides. praise the agreement, calling it a quote, new era in relations 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 paying union jobs at home. and this marks a milestone in the renewed us partnership. and it is our global 1st in our efforts to achieve the di company thinks of the global production and trade. now this new agreement comes with one queer 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

i think what's going on is a political dance in europe. the reality is that the europeans, and there's lots of evidence for this, are wondering whether they are alliance with the united states, which is traditional, which is counted on, can be sustained in view of the enormous importance of their dealings already with china. and the reality which they all know that the chinese economy for 20 years has grown 3 times faster than the american. and they're wondering which way to go, but they don't want to make a very difficult choice. so they cut the deals with china to keep that going, and they go through this little bit of theater. we just saw about competition and lots of money and we're going to do it. they're hoping thereby to keep the americans happy. but it's a temporized kind of action. i think you're going to see it does integrate in the months ahead. is certainly does seem like with kind of trying to perform some sort of juggling act. and it's interesting because you hear from some of the officials, they're talking, they're arguing t

but how is inflation playing a role for this guy was the energy crisis continues across europe, where prices are expected to remain high. we'll take a look at how the north through pipeline could provide much needed relief and why officials are saying it is don't months away from being a. then as 2021 comes to a close, we take a look at the progress crypto currencies have made. and what regulations we can expect in the coming year. we have a lot to cover. so let's get started. we leave the program with a travel nightmare that is still ongoing for many thousands of flights were cancelled on monday, bringing the total for the holiday weekend to more than $10000.00 flight cancellations around the world. now more than a quarter of those flights involved the u. s. where airlines across the board cancelled hundreds of flights, leaving thousands of passengers stranded southwest airlines for the blame on a variety of weather, an air traffic congestion challenges. while delta united and jet blue noted increase in stopping shortages due to stick calls as the latest coban 19 variance spreads acr