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tv   Boom Bust  RT  November 27, 2018 1:30pm-2:01pm EST

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not quite true that this isn't the way. to what we've got to do is identify the threats that we have it's crazy to confront a shouldn't let it be an arms race on all sides here in dramatic development only really. i don't see how that strategy will be successful it's very critical time to sit down and talk. later on.
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this is boom bust broadcasting around the world and covering the big world of business and commerce and finance and everything it impacts you i'm part children of washington we're so glad you're on board coming up today facebook's problem have reached yet another level of fierce focus over the weekend as the u.k. parliament obtained copies of confidential internal papers conservative commentator steve malzberg joins us to take a look plus as bitcoin trades at just above thirty five hundred dollars about thirty seven hundred when we went to air is it point at a new bottle we'll ask taylor let amanda cryptocurrency analyst at simpler trading about that and more and later there's big business news and sports argues regina dam tells us about the new global player in sports programming all that directly ahead but first we get some headlines let's know it. a french fuel fight lead to our global report. today as president mccrone prepares
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a nationwide address over one hundred thousand protesters have marched against mr mccrone plan to increase fuel taxes this was the second weekend of actions by the protesters mary many wearing yellow best french voters to required to keep in their cars which have the media adopted them as are named the yellow vests a total of eight thousand people marched in paris with five thousand braving areas where police fired tear gas and broke up the demonstration french finance minister bruno lemaire a met with representatives of the french business class earlier today to discuss responses to the protest and perhaps the grievances behind them present mccrone now polling over twenty six percent that's twenty six percent in approval ratings and burdened with a nine percent on unemployment rate reportedly will respond in a national address on tuesday. the venezuelan government has avoided losing a major oil asset to a creditor in court while the head of the ross enough the russian state oil giant
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is pressing caracas for a timely in kind payments of oil the government of president nicolas maduro managed to avoid the seizure of citgo they're refining and marketing subsidy here in north america by plaintiffs with a stake in cristo alex international corporation a former canadian mining company on sunday cristela the c.e.o. announced a one point four billion dollars arbitration judgment to be paid in installments and said and said that as whale has already paid five hundred million dollars in assets toward that goal meanwhile the head of ross to death reportedly visited venezuela last week to serve notice that oil shipments promised in exchange for russian credit are behind schedule and that russia is only getting forty percent repayment on their oil for credit deal while china seems to be getting sixty percent payback rate for a similar deal according to an exclusive by reuters bottom line for ross enough pay up mr i'm a door oh oh. the u.s.
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decision to recant commitments under the five plus one nuclear agreement p five plus one nuclear agreement with iran continues to reshape the global economy iranians iran's petroleum minister announced on sunday that china's national petroleum company has officially replaced french oil giant told tall in faiza levon of the south pars project that's a massive effort we've told you about before in the largest natural gas field in the world located in the persian gulf china national petroleum already held a thirty percent stake in south bars before the announcement and told tal indicated rest sept eleventh to a buyout to tall signalled in august that they would abandon their fifty point one percent stake in south bars after the us refused a waiver from reimpose sanctions on the iranian oil sector the episode seems to provide yet another example of a trumpet ministration isolating itself irritating some allies and encouraging alliances among adversaries. and in case you missed it a united states government report endorsed by thirteen separate federal agencies
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predicted climate change will burn a full ten percent of the gross domestic product in the u.s. by the end of this century if the economy as we know it still functions after massive crop failures and wild fires which will spread across the southeastern u.s. to put that in perspective the predicted losses would be twice those of the great recession of two thousand and eight according to the report the trumpet ministration clearly hoped to bury the report by releasing it two pm on friday the day after thanksgiving in the us washington time to take out the trash i remember that well from my time in government if you want to hide something but the reports dire predictions were stark enough to offset at least partially distractions from the start of the holiday shopping season. and facebook's problems have that tense a fight over the weekend as the. u.k.
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parliament obtained copies of confidential internal papers which are said to include conversations between c.e.o. mark zuckerberg and top facebook executives they are believed to include information on how decisions were made on data privacy controls which played a part in the cambridge analytic a scandal and the documents were handed over by a third party just in time for tomorrow's meeting in london of seven nations that the first international grand committee on this information for mr zucker byrd has decided to skip despite being asked to attend and answer question here to tell us what this all means as conservative commentator steve malzberg hey steve thank you for look at this this is super interesting these documents i read were part of a court case in the u.s. and they were under seal by a u.s. judge so i don't know how they leaked out to parliament what do you know. it is so bizarre and thanks for having me ok so this is a court case in california this guy who ran. an app which by the way let you find
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friends of yours posing in bikinis claims that facebook changed the rules on him and somehow ruined his business and facebook says that's not true so it's a court case in california but as part of disclosure he got his hands on these documents and files well london and the parliament found out about it because they're at war with zuckerberg of facebook they found out about it they also found out that he the former head of this company called six four three who is suing facebook in california he was the one did so they sent the sergeant at arms to his hotel room and said listen you have documents in your possession you give them to us because you're under our jurisdiction now and guess what if you don't you might go to jail and you might face fines so we handed them over so the parliament now ready to conduct a big meeting with seven countries tomorrow which will talk about has in their possession these documents is that not crazy super crazy and you know i know many
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get a lot of haters here mark zuckerberg comes off i think as a nice guy a genuine guy but now that they had these documents and look their stock has been on a downward trend for you know a lot a lot of the year but do you think the company has a real a reason to be nervous here steve well the speculation is and some of it is fueled reportedly by the guy who's suing facebook because he's kind of revealed what he believes or in these documents is that this could these content communications between zuckerberg and top facebook officials in the years leading up to and the time leading up to the cambridge analytical scandal which to refresh people's memory is cambridge analytic harvested the information private information over fifty million facebook users and then of course zuckerberg of facebook were accused of not telling the. people the users and i try to get the information back so this speculation that not only did facebook know about this somehow but encourage it by
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by tipping off a loophole that would allow cambridge to get this information so if any of that is in these documents and the british parliament gets a hold of it and looks at them even though the facebook lawyers are saying don't look at it good luck with that there could be some real real fireworks and he sort of you know he can't win for losing and with mr zuckerberg i mean he said on the one case you know look i'm trying to do things right but i didn't know a lot of this bad stuff happened so i guess if some of these documents prove otherwise that could be a big problem not that anybody will find that about how important is this meeting of seven nations that you mentioned steve that this is been planned that basically it was precipitated because wouldn't come to speak to the parliament when they wanted it so now parliament is hosting in london tomorrow seven nations of course the u.k. brazil ireland. we also have argentina lot and they're going to take facebook to test that you are sending
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a senior vice president was invited and said no and you know they've been after overseas the european union puts penalties in place for violation of property the u.k. find facebook five hundred thousand pounds the most they could find and so this is going to be the first meeting it's called the descent for a nation and fake news meeting or commission if you will and i think they're going to take to facebook to task every way possible and. my prediction is that they will mr zucker bergen and maybe other c.e.o.'s or executives or other at facebook will be invited before the house some time coming up here and you know i would say certainly in the fourth quarter of the year hey steve there is some not great news also for facebook and google out of the u.k. . they're do wobbly on digital land is under threat tell us more about that yeah you know a lot of there's a lot of pressure on companies in the u.k.
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especially to this one itself from these social media companies like facebook and google especially who control fifty two percent of digital advertising and when you have companies looking at it you know lever for instance already once took a second look at their relationship with facebook and reportedly they're they're going to do it again marks and spencer is reportedly taking a look so if some of these companies back off and pulled their ads then guess what the gravy train to an extent in the u.k. will lessen for google and facebook but it remains to be seen if these companies actually pull the trigger hey steve i want to thank you and i also wanted to say you know i enjoyed being your guest on the news when you were filling in for sky last week you did a great job and i was pleased to be your guest and i've always appreciated when you join boom bust and i know the boom busters are too conservative he had radio commentators to thank steve thank you bart. after a trip of more than three hundred million miles which began this past may this
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afternoon nasa the national aeronautics and space administration insight lander made history by actually landing on the planet mars the robotic spacecraft is designed to study the interior of the planet and was built by lockheed martin space systems. and it's time to sneak in a super quick break but hang here because when we return has bitcoin busted a new bottom we'll ask taylor lettermen the cryptocurrency analyst at simpler trading about that and more plus artes regina hamm tells us about the new global player in stores programming and there's no question it's big business as we go to break here the numbers at the closing bell all recovered slightly today from last week's significant one we'll be back in a flash. our
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social ranks prepared to let the credit market collapse are they going to do for now with the recent rate rises there is room for q.e. for they would come in and they would revert reverse q.t.r. quantitative tightening and they'll engineer another bond market rally. i'm a little but i think. we're buddies. who
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are taking bets on me as i knew she knew that moved me and i don't think. he could feel that he had a chicken does. he made a move of the one that he. seemed wrong when old rules just don't hold. any gold that he's yet to shape out just to become agitated and engage from an equal trail. when so many find themselves worlds apart. we just of the common ground.
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welcome back at the breakfast deal between the government of the united kingdom the prime minister theresa may and the european union have been given the required unanimous approval of all twenty seven e.u. members sent in the deal to a parliamentary vote earlier today ms may defended the deal in the british house of commons i believe on national interest it's clear the british people want us to get on with the deal the onus the referendum and announce us to come again to get. analysis to come together again as a country which ever way we. that. this is not a deal that delivers for the british people and i commend you. on sunday opposition leader jeremy corbyn of the labor party called the deal the worst of all worlds while smaller parties including coalition partners in the democrat unionist party
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has have also declared opposition filling out the bleak picture of ms may will also have to account for expected defections from her own conservatives the british brinkmanship seems set to carry on for quite some time. and jumping back across the atlantic to the states the so-called black friday shopping holiday has set a new record of six point two billion dollars in one day sales that figure marks a strong twenty four percent increase over last year's total black friday for those outside the us and maybe you're thankfully unfamiliar with the phenomenon it's a day after thanksgiving in the us it has come to mark the beginning of the holiday season some retailers have even effort to export the holiday around the world with spotty success while the door buster deals were inspired consumer. camp out to capture big bargain seem to have crested from previous levels of manic and even violent excitement over several shopping season demand still appears to be super
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strong market watchers at adobe analytics found a two point one billion of the black friday total was generated by purchases made on smartphones and so-called cyber monday is expected to also reach a record for online retailers of seven point eight billion in sales that's up two point four billion from last year. with bitcoin trading at around thirty five hundred dollars for much of today we asked the question has bitcoin busted a new bottom here discusses taylor letterman the cryptocurrency analyst at simpler trading welcome taylor thank you for being with us we certainly seem to be on and bear territory here in markets i guess in general but krypto certainly aren't and excluded a bit coin has dropped to the lowest level since the early of twenty seventeen and as the leader of the packets take another crip goes down with it has been going bust at a new bottom or is or more to come what do you think. to be sure if there's more to come but while the market appears to be that this is
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a new downturn we've been sliding backwards since january tenth prices been dropping leading to the past few weeks where we saw the support level of six thousand dollars kind of shatter like a glass floor at that point many investors reacted unpredictably and now we see where prices reside right now right around thirty five hundred. you know taylor it's interesting to me that almost sort of during the middle part of this year markets seem to react like you know maybe equities or derivatives i mean you know they were certainly down from the twenty thousand last year i mean view it as an anomaly or whatever but it went down and then it sort of a reach around ten k. and then back down to like you said you know this resistance level of six thousand but now it now it's down i mean it makes me think last year we had traders who you know simply would buy and hold you know go along for the ride there wasn't much to do other than buy in a hold and and now i wonder if since we're seeing so much downward movement do
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newer more a novice traders need to know how to actually short kryptos. it does help in a situation like this or where there is opportunity to short why not take advantage of that but it's actually quite difficult from the perspective in this market to short any of the crypto assets primarily because we're still really heavily new in the lifecycle of exchanges so they don't actually have that functionality or. not a legal here in the u.s. to be trade or shorting back when with margin or leverage so so one the exchanges some of the exchanges don't allow shorting but are there some places you can short outside of the u.s. and is there enough liquidity to get price. yeah exactly so the liquidity is a big point. there is an exchange called bit max that has the ability to short make it difficult to ask at least some of the top five or so and there's these amount of volume there that allows you to actually partake on both the long and short side
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with additional leverage so that's a place to look if you're outside the u.s. if you're in the u.s. there's exchanges such as crack in employee explanations owned by circle they do have low leverage or low margin trading available and how do market participants including average traders try and figure out where prices per crip those are are headed i mean it's certainly different than commodities where you know we look at supply and demand although i guess there there is supply of bitcoin to some extent but you know these aren't traditional fundamentals within crip those how do people try and get a bead on where prices may go. sure and that's been really difficult for the purpose space to kind of combat that question because a lot of what we are seeing the value that we're seeing in crypto is really tied to the price of the assets themselves it's still very early in the adoption cycle in crypto and we're trying to kind of predict and speculate on how the impact will be years down the road and so many people are taking
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a long term standpoint it's very difficult to kind of value trader dogge investing at the moment so we're still waiting to kind of see where those fundamentals lie i mean the projects right now we're looking at how many developer commits do they have to get their activity the branding the marketing around it and some some of the business practices and who they partner with is it how we're determining the fundamentals behind yeah it's almost like fundamentals have a new definition in the crypto space it's not you know you know bushels of beings or corner it's sort of interesting i'm wondering if one of those things and maybe you sort of said it but our institutional firms getting more into crip those these days is that one of those fundamentals and are crip those slowly but surely becoming more acceptable and and does this downward price swing either impact or not institutional acceptance. i think it definitely impacts it a bit at least whether that's creating new opportunity for institutions to sweep in
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as the rest of market and kind of run to the door according option for institutions but i don't see them take any additional risk on until we get through the rest of twenty thousand into twenty nineteen we can expect some more institutional interest with the launch of the i six our backed exchanged it's a subsidiary of ice are now international conduit continent exchange and then as well as the fidelity arm there krypto are being released in january so we'll wait to see how interest is around those products and if we can get an e.t.f. or something hitting some exchanges will have more opportunity for institutions to really take some interest in more retail investment as well and for average investors taylor when you talk about an e.t.f. or exchange traded fund or we talked last week about an a.t.p. it a product that might be offered outside of the u.s. do you recommend those sort of entry level places for crypto investors to look there are
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a little bit more heavy on the price side so for someone just new to the market you're better off just kind of learning the fundamentals of big getting a good grasp on that those those funds the. which we're still waiting on and some of the futures products are a bit pricey for any average investor to kind of step into at the moment taylor thank you so much for your expertise we sure joy having you on we hope you'll come back that's taylor lettermen the cryptocurrency analyst at simpler trading we love simpler trading thanks taylor thank you. and sports media is fast becoming a saturated market with traditional media companies like e.s.p.n. branching out into streaming services like e.s.p.n. plus they need to attract a larger and on the go sports audience as well as the desire to cut the cord which has companies like design one in the u.s. where they have signed a big dollar deal with major league baseball you know joined by sports producer
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regina han regina thanks for being here this is such a fascinating story and design own as you tell me. and you said no it's not about you it's a design on bart but this is a new player on the block tell us about them and how are they doing such a big deal dollar deals they're actually only about three years old they start in two thousand and fifteen and they rapidly expanded twenty six when they moved to italy they moved to switzerland they moved to australia and japan and then in twenty seven expanded to canada so they really have fingers reaching everywhere and they have science some of the biggest names in sports major league baseball huge forty eight states are past time three hundred million dollar deal for three years for coming the only star in the united states in september of twenty thousand so it's just a wild rapid fire explosion for this brand but they offer what a lot of traditional cable providers don't offer ad free streaming and when you're sports and that's what you want yeah there's plenty of opportunities in the space
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of sports for ads with the timeouts and breaks and penalties and everything one of the things that i was reading i didn't get a chance to ask you earlier so ask you on the air is they were known design own for being involved in sort of combat sports so maybe this m.o. be that it is more trying to spread out their sort of their spirit of the different types of sports right i think that's what they're looking for especially in the united states only about two to three percent of american audiences really want those comments sports. they want their m.m.a. they want their wrestling they want that kind of heavy hitting and that's great but you're missing a large part of the audience who want that you have huge following the major league baseball n.f.l. and to have those rights fox sports is notoriously have them for years and so is e.s.p.n. for monday night baseball to join that streaming go you can watch us with no ads as of now they're trying to do more brand and product placement integration but for now you don't have to miss the fourth inning you can watch it without being interrupted in that is what people want whether you're away from your television or
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on vacation you want your access all the time into zones giving that to you and who is the major competition is that you're spewing plus or e.s.p.n. plus has a love hate relationship with the audience some people really love it some people really can't stand the kind of content that they get but does own is trying to fill that gap of people especially younger millennial who want to cut the cord you don't want to spend two hundred dollars on a cable subscription anymore they want to pay five ninety nine or three ninety nine and that's a design offering they're offering ninety nine a month for people to subscribe for these sorts of if you can get it for ninety nine a month and just pay for cable for internet excuse me why would you pay for cable excellent speaking of streaming we just have about a minute left but i want to get your take on that you know tiger woods phil mickelson golf it was going to be a preview of that on friday you know after the thanksgiving holiday in the u.s. we could watch any place around the world of course it looks like it got messed up what happened and what are they going to do about it there a little bit of us now food part they were supposed to charge one thousand nine
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hundred ninety and people paid for this paper view first scription like excuse me perk subscriptions like you would for a boxing match or for an m.m.a. fight and they just lost the stream amazon had a similar problem in august at the u.s. open in the u.k. you couldn't get the feed and people really aggravated by it so they ended up offering it for free however if you paid twenty bucks a month why is everybody getting it for free so they're sort of trying to offer comcast charter communications dish and eighteen t.v. who owns bleacher report live or streamed they're going to offer you a refund now but you know the sports already. for the internet i'm not sure the internet's ready for sports seems like it whether or not is the zone or whether or not it's comcast you don't want to mess up on one of these maiden streaming voyages right very angry golf fans i'm sure and tennis fans as well in the u.k. and amazon had the simulation colluded during the super bowls all last year super interesting i'm so glad you were able to make time for us regina hamm our two sports but i want to thank you so much and that's it for this time you can catch boom bust on direct t.v. channel three twenty one dish network channel two waiting or streaming twenty four
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seven on pluto t. that's the free t.v.'s channel one thirty two or as always you can hit us up and you can even subscribe at youtube dot com slash boom bust r.t. we hope you come back next time so long for n l c l a. us veterans who come back from war often tell the same stories. were going after the people who were killing civilians they were not interested in the wellbeing of their own soldiers either there already several generations of them so i just got this memo from the circular defense off that says we're going to attack and destroy the government and seven countries in five years americans pay for the wars with
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their money others with their lives if we were willing to go into harm's way and willing to risk being killed for a war then surely we can risk some discomfort and easiness for. you know world of big partisan movie lot and conspiracy it's time to wake up to dig deeper to hit the stories that mainstream media refuses to tell more than ever we need to be smarter we need to stop slamming the door on the shouting past each other it's time for critical thinking it's time to fight for the middle for the truth the time is now for watching closely watching the hawks.
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if you feel the three you. creating ships which russia says illegally entered its territorial waters and weapons and ammunition on board the international community has been quick to back kiev and moscow in istanbul. spot european pledges to support companies defying u.s. sanctions on iran the french petrochemical giant has pulled out of the largest gas project in the country with a lucrative contract snatched up by china.


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