tv Boom Bust RT July 7, 2020 2:30am-3:00am EDT
seemed wrong. to me. to shape out just to become educated and engagement equals betrayal. when so many find themselves worlds apart we choose to look for common ground. time after time to repeat the same mantra sustainability. is excel or a transition to sustainable transport sustainability and a more equitable and sustainable well. they claim that production is completely hama's. companies want us to feel good about their products while the damage is being done far away this is something else this we don't even and i know. this is news and we
do. so when. this is a boom bust the one business show you can't afford to miss friendship or in washington coming up a group of scientists are now pushing the show to take more seriously the idea of covert 19 airports spread we break down the calls and how markets are faring amid the ongoing economic turmoil plus chinese tensions with the west are on the rise as the united kingdom is charting while ways equipment in the nations development of 5 g. straight ahead we welcome a panel to analyze the situation we have
a packed show today so let's dive right in. and we lead the program with the scientific communities concerns over the world health organization's messaging regarding the crow virus pandemic more than 200 scientists from over 30 nations worldwide are calling on the un back group and other health agencies to update guidance regarding the viruses spread by airborne transmission now the paper titled it's time it is time to address airborne transmission. coppa 19 will be published this week in the medical journal clinical infectious diseases in the paper scientists point to growing evidence that the virus can spread indoors to aerosols that flow in the air and can be spread by smaller quantities than previously believed while guidance has been ever changing throughout the pandemic most experts have focused on social distancing hand washing and avoiding droplets that come from a cough or a sneeze now the w.h.o. has come under fire amid the pandemic over its initial response which has prompted calls for reforms within the organisation as well as
a threat from the united states to cut funding and withdraw from the institution altogether now for their part the w.h.o. has said it continues researching the ways coping 1900 spread and updates guidance based on their findings. sticking with the ever changing understanding of the krona virus some researchers believe may be completely different than once thought you can openly attack any organ in the body and even spread r.t. correspondent thought this week breaks down the latest findings from los angeles. as a race for a vaccine continues scientists are realizing cova 19 isn't exactly what they initially predicted thought to be a respiratory disease researchers have discovered it's actually a vascular disease it's different from an influenza virus and that it gets into the body via the airway but in the case of the chronic virus it attaches to the blood vessels but people were 1st getting ammonia from the virus it appeared to be a result from attacking the lungs but now scientists say they're seen people die of
blood clots but 1000 can reportedly attack any organ in the body with a significant network of blood vessels like the lungs kidney gox and even brain and because of this new findings doctors are reporting so many various types of symptoms related to the virus even ones that are not obviously tied to coded 19 researchers say there is more mounting evidence the virus is much harder to transmit outdoors than indoors a recent study from japan indicates one is 20 times more likely to get the coronavirus while inside compared to being outside scientists say outside the window even humidity help disperse and blow away droplets coming from each person so a mask may not be needed outside health officials say practicing social distancing 6 feet apart will truly help to keep transmission rates down it's a reason why the mayor of manhattan beach said she didn't agree with shutting down the beaches for the 4th of july weekend so we agree that the young and healthy are least likely to get covert and we agree that covert is least likely to be
transmitted outdoors and we know that the beaches are wide open space with lots of social distancing so to my mind it does not make sense to close the beaches where the young and the healthy do gather scientists are stressing the need to reinforce social distancing of the. only be the opening phases of this pandemic were put in for a boom bust and sweet r t. and another record day for new cases of the coronavirus took place over the weekend as the w.h.o. reported more than 212000 new infections as of saturday morning while sunday's report was that much better of the world at another 200000 cases so let's take a look at the global spread of the virus with r.t. correspondent sites have a day or so where do we stand so grand this is where we are right now global case says there is more than $11600000.00 current firm cases global deaths were over $538000.00 deaths now looking at the us there is more than $3000000.00 current firm
cases plus over 132000 deaths so here are the biggest developments the happening right now in the u.s. now some states are continuing to report record high levels of new cases over the holiday weekend and brand this week also marks about 2 months and since many states kicked off their reopening plans which now officials say just came too quickly now specifically 3 states florida texas and arizona now account for the majority of cases that we're seeing now but florida and texas are facing a surge in new cases from people hitting the beaches and hard partying over the for the july holiday weekend now jest in florida the state reported over 11000 new cases on saturday the highest single day total since depend emic began then they reported another $10000.00 on sunday and. fish and as
officials even tried to shot multiple the chose to avoid 4th of july crowds but that didn't help much as florida now has over 200000 current firm k. . says now the my ad the mayor of miami dade which has the most cases has now announced that all restaurants jams and other businesses will have to close this week to control further spread now let's take a look at texas which also report reported on saturday the highest single day total since depend emic began in total texas has over $200000.00 cases but most of the new cases are between the ages of 20 and 44 mostly contributed to people gathering in crowded bars without any kind of social distancing and you know the texas governor himself who pushed for one of the most aggressive reopening plans in the country has now even shut down bars back down and
brand if cases continue to rise at the current pace some of the cities in texas are only about a week away from running out of hospital beds and i see you capacity last i want to talk about arizona which has now more than $100000.00 total cases across the state and much to play on the stage is opening a way to early and that's exactly what the phoenix mayor said over the weekend that arizona in fact was one of the last states to have any kind of stay at home orders and also one of the very 1st through reemerged so we're seeing now the consequences but arizona is also facing another case crisis that our other states are in which is related to testing now in testing facilities throughout the state most people are waiting in line anywhere between 8 to 10 hours just to get a test that you know some residents are in their cars sick they're running out of gas which is also discouraging
a lot of people from going to get tested now the state has also the highest test positivity rate of all u.s. states and you know brand health experts all pretty much say the same that the united states needs a unified approach to. akhil the rising cases and that people should not get a false sense of security that a vaccine is just around the corner and lastly i want to look at trends from around the world from the countries with the highest cases now besides the u.s. we're seeing an upward trend for brazil which has now more than 1600000 cases followed by india and russia in the 6 other countries now as you see there is someone flattening by my no means those that mean declining but then again that could change a week to week of course but the one country that's that's keeps showing up on the list with the cases is the u.s. brant correspondence thank you so much for keeping us up to date.
concerns of record cases of the krona virus equities are thriving global stocks have rallied to start the week as the shanghai composite soared to its highest level since the beginning of 2018 and u.s. markets followed suit the tech heavy nasdaq even continued its record run hitting record highs of the day so let's go ahead and take a look at what's pushing stocks guys with the expert analysis from boom bust co-host christiane christine big tech is leading the rally monday as we begin the 3rd quarter what is fueling this book bullish market sentiment is it sustainable at this point. all right now today you have been down rallying more than 4 arnon points after the basically led by big tech where amazon and netflix hit all new records so one of the big things like a deal making deal making boosted sentiments today as the market got reassurance from big industry have it wakes up just berkshire hathaway and lube are now
starting to make acquisitions kind of throwing indicator out to investors that. the market also got reassurance from the sun data showing expansion in the us the service sector but that's. a sign. just mention so we may actually start here for a while into the fall as we are getting into the boring 5 slow summer low months so there's not going to be too much activity or catalyst coming up so this may be just a last minute starter in the market before we get locked into a narrow trading range. i want to follow up on that you talk about this summer boring time where it's traditionally we see that sell in may and go away but at this point we're dealing with a pandemic economic situation country throughout the u.s. at least is changing day to day so are really going to see that kind of boring summer are we going to see more of this going throughout the rest of the year. absolutely because we already see liquidity starting to drop and when you have a look we're going to talk a drop that means that if there are going to get cases of wild swings and
volatility simply because if we do have another panic sell there's not going to be many people who are going to be able to buy so when a regular have low liquidity that gives a case for deals dramatic swings and that's when it gets very dangerous so even though the summer months might be very boring you're about to see a lot of volatility and now we seem to be rallying off this back of the overnight asian markets that triggered this ripple effect across europe which also closed at their highest in nearly a month now the u.s. market to as we just talked about so what is the catalyst for all of this. so looks like china and you guys seem to be competing in just about everything high tech ai trade and apparently who is market bubble is the biggest because on monday state officials they openly urged the entire chinese population to buy stocks saying that quote fostering a healthy bull market after the pandemic is now more important to the economy than ever so the shanghai composite rallied almost 6 percent while the shans and the
hung sank climbed almost 4 percent monday and this was the largest one day jump in over 5 years as chinese traders push stock leverage to over $164000000000.00 which is the highest in more than 4 years so now. we're seeing the value of the entire china chinese stock market sitting at about $8.00 trillion which bloomberg now warrants is overbought because the pace is very similar to the market meltdown that started in 2014 delhi can of are now exceeded 200000000000 for the 1st time indicating that there is increase in participation from retail investors so right now you have many analysts comparing this to the 20142015 bubble whereas the people you know see it as cautious in monitoring the situation to make sure that things don't get too overheated as we've seen before so it started with drawing funds from the financial system where some of they in a row monday but despite this this huge growing middle class population as china is expanding saying another bout of and they're now buying like hand over fist in this
suppose it recovery. kristie i want to actually talk about a little bit of an acquisition that we're seeing made some big bit over the weekend as it agreed to purchase food delivery service post made in a 2650000000 dollars stock deal is this another stay at home play for over now that less people are moving out or is this kind of consolidation in the industry which we have seen as grub has bought some companies up has bought up some smaller companies what are you seeing there. well it's outlined on solid asian but it's also part of the stay at home trend because core business taxing passengers around that got severely impacted without a stay hung and social distancing orders because it's coming and then that kind of killed all the sharing business model that silicon valley said was the next big thing now you have no more ride sharing work space sharing home sharing is that reality is long gone and who breaks right healing business suffered in percent decline as losses continue to mount so who had to quickly pivot and set its eyes on
delivery as everyone is ordering in these days being locked at home so instead vision was up 54 percent. so where has always been interested in the food delivery space earlier this year where has. in an attempt to bid for grub but that was instead taken out by just in it for some point $3000000000.00 so right now over each and grub are roughly tied in terms of market shares for the u.s. food based delivery at 24 percent so if i had merged with who would have been the unquestionable leader but right now who are settled on post mates which is the number 4 food delivery company in the u.s. and so far has never turned a profit made i've been running out of money this entire time i have very few choices left in its runway in our i.p.o. our sell to our boom bust co-host christine thanks so much for the expert insight. time now for a quick break but hang here because when we return chinese tensions with the west are on the rise of the u.k.
is targeting wall weighs equipment in the nation's development 5 g. just on the other side of the break we welcome a payable to analyze the situation and as we go to break here are the numbers that . shape our other central bankers warren buffett are effectively playing financial russian roulette right so they have a gun and in there is one bullet of risk they spin the chamber they point at america's head and they pull the trigger hoping that they won't blow off america's head and that they get to keep all the free money this day and they do that every single day and then eventually like in 2008 they blow off america's head and it
will happen again and they'll say well you know we were acting in the greater good . is you'll media a reflection of reality. in a world transformed. what will make you feel safe. isolation community. are you going the right way or are you. doing. what is true what is right. in the world corrupted you need to descend. to join us in the depths. or remain in the shallows.
infrastructure the u.k. digital secretary oliver dowton said the national cybersecurity center can no longer assure the security of wild ways products because of new u.s. sanctions now the prime minister is doing an about face saying monday afternoon that he does not want the country to be vulnerable to a high risk state vendor in response the chinese ambassador to the u.k. says this is an example of the u.k. allowing its national policy to be controlled and dictated by the trump administration. we have to try our best to tell the story. but we cannot control the end of it is government isn't either that's a lot of. speculations and and you know we're ready we're ready to and he's seen any consequences i think way will survive while we will prosper you know no more pressure the you know from so-called superpower the more pressure
from is on ice i'm going to while we will grow stronger that is my prediction. earlier we had a chance to catch up with former british m.p. george galloway who elaborated on the idea of the u.k. deferring to the us on the situation where on the brink of economic war against china from the united states and in this case of the united kingdom should be treated regarded as the 51st state of the union because that is how it's now behaving so while we will just be the beginning of the the new 2 and law chinese war. and joining us now to discuss his boom bust co-host investigative journalist ben swan and dean of the miami her business school john quelch bet i wonder start with you here this is all coming as a result of the ruling last week by the f.c.c. that essentially labelled weiwei as a national security threat is that what the u.k.
is now actually responding to. well it's in part but it's also a kind of a bigger issue it's an issue of sanctions a session essentially what's happened is this the u.s. assistant really put sanctions on weiwei saying that the company cannot receive chips that are manufactured by certain groups and that they cannot use of why wait ships by placing the same sions on one way and stopping american vendors and stop inventors around the world from selling their chips to walk away what they've done is the u.s. has actually created a national security problem for the u.k. so what the u.k. is saying in the n.-s. c. s. is essentially saying here is that the problem they're running into is that if while ways chips cannot be sourced from manufacturers in the united states or from manufacturers that they can verify while we might have to use 3rd party chips that they cannot verify in the u.k. as being secure and safe and therefore the same sions themselves are creating the
risk the national security risk for the u.k. in terms of not knowing where the chips are coming from and not properly vetting those chip makers so essentially in short the u.s. has created through sanctions a hurdle that prevents a while way from getting actually good quality chips that would put the u.k. at risk and no dean quality you know if you just heard those 2 sound bites we played both people are basically saying that the u.s. is pushing this policy for the u.k. when it is regarded while way do you see it that way. well it's certainly very much the case that some sleazy u.k. has exited from the e.u. it's become more code dependent on the united states and for its national security is linked to make strictly with want is dictated to a degree by washington i think it is quite possible that the chinese were. be able
to retaliate economically against the u.k. they are in a position to take action against specific companies. as was seen in the case of g.s. k. a few years ago might include major companies like rolls royce or unilever and in addition china could rebalance its trade within the you know within the european region away from the u.k. towards germany and france the u.k. is actually not that major a trading partner with china but certainly the u.k. wants good relations with china but it's caught in a little bit of a bind here because boris johnson has. basically guaranteed in the conservative manifesto on which he was elected that there would be broadband 'd available
through our view k. by 2025 and if one way is now locked out of the u.k. market for 5 g. very difficult to see how that could be accomplished and now ben weiwei is actually been banned from taking part in the universal service fund here in the us and it looks like a similar measure may move forward in the u.k. as well now this affects more than just 5 g. but even existing technology as well isn't that right yeah actually and going back to something that. was just said which is absolutely true this is very important boris johnson ran on this idea that he would have broadband across the u.k. by 2025 under what politicians in the u.k. are pushing right now it's not just a slowdown of 5 g. technology what they're talking about is very similar to what has happened here in the us with the universal service fund which just centrally says this not only can while way not take part in the build out of 5 but any existing while way
technique. ology in 4 ringback g. or even 3 g. telecom systems or towers in the united states would have to be removed it's this what they call the rip and replace you go back and you tear it out and you replace it with something else they're talking about doing that in the u.k. as well that would mean 3 g. and 4 g. technology would have to be go back and be retrofitted with technology that does not belong to while away and that would cost billions of pounds to do here in the u.s. it will cost billions of dollars to do and so it's not just they don't work with always moving forward it's a go back and retroactively removal all way as if they were never a part of the systems in the 1st place and now being quote i actually want to touch on another story that's going on monday china lobbed criticism towards the united states accusing the us of flexing its military muscles in the south china sea by conducting joint exercises with 2 u.s.
aircraft carrier groups in the strategic waterway does this u.s. war on y. way or the ongoing trade tensions impact these kind of relations when we talk about south china sea. we are seeing the emergence of a 3 way. combat if you like between china and the u.s. that's definitely coming to the fore now both on the economic front and on the military front and also on the soft power and cultural front as well so on all 3 dimensions we're now seeing this confrontation all of these issues into lent for 2 u.s. carrier groups to be some of cheney asli on exercise in the south china sea is pretty unusual but 5 trillion dollars worth of goods passes through that those waters every year and that's a major supply line for global trade it's essential from a u.s.
point of view to retain control of that waterway boom bust. and dean john quotes thank you so much for breaking this down. thank you. and just days after india's ministry of electronics and information technology banned tick-tock in a series of other chinese based apps which it views as engaged in activities prejudicial to sovereignty and integrity of india it appears facebook's instagram may be ready to fill the void in the world's 2nd most populous nation now according to a report in business insider instagram reels is currently being tested in india now reels allows users to create 15 2nd videos on their instagram stories send them via direct message or post them in the explorer section of the social media site now it's a grammarians also lets users enhanced their videos with music and audio clips making the feature sound more like a tick tock or a knock off of take back the may thing else now according to business insider some users in india have received an update for instagram giving them access to this new
feature rails has already launched in france and germany and is reportedly being tested in brazil as well base book recently stopped working on its tic tac competitor lasso to focus on reels and that's it for today see you next time. i. some rumors as soon as a. search is going to be named chris smith. you may. remember
if you just came down from wherever 'd they think i did you hear that oh. i'm talking is a very international community. meeting yesterday to try to tell. me this is a good idea to keep it as this study says it needs to eat. for the position of the world to restrain the growth of brazil so their nuclear cooperation in antarctica is everything because he was polluted with it in front of t.v. with a view of the. flood they have i would have acted all day but i decided not to take this life. with my goddamn tell you that. join me every thursday on the alex simon show and i'll be speaking to guest of the world of politics sports business i'm show business i'll see you then.
the headlines this hour scientists send a collective letter to the world health organization accusing it of underplaying the risk of transmission of 19 that is people flooded back to restaurants and beaches after months of home. meanwhile berlin's public transport company courage is commuters to stop using deodorant to make people wear face masks properly and election meddling european commission president is under fire over a video supporting croatia's ruling party that critics say breaks a key code of conduct.