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tv   Boom Bust  RT  November 10, 2020 11:30pm-12:01am EST

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join me every thursday on the alex salmond show and i'll be speaking to guest of the world of politics. sports business, i'm showbusiness. i'll see that they are tactics that can be used to get innocent people to confess, to crimes. they didn't commit. i don't even think people in the us really get that the police are allowed to lie to the person who falsely confessed, actually came to believe the lie that they were told about their own behavior. once a false confession is taken, the case is closed and nobody really can tell the difference between a good confession and one that is
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joe biden, to be president elect someone that's not words, final vote, determination. and we aren't there yet once the election free and fair. and what is the possibility of the country election? and this is boom, bust of the one business show you can't afford to miss boring. washington coming up . the developments in the field of cope with $900.00 treatment continue to roll with the f.d.a. has approved a major anybody treatment that's straight ahead plus markets are still on the move following positive vaccine news coming up, we analyzed the wave of stock stories and where this rally could lead,
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and later amazon is facing the hot seat in europe as the block has moved to open a new investigation into the e-commerce behemoth with a packed show today. so let's dive right in and we lead the program with the latest development in the treatment of copa 19 in the u.s. food and drug administration on monday, authorized emergency use of eli lilly's experiment, mental anti-body treatment. that's balm. let me be about the f.d.a. said the emergency use authorization was given based on clinical trials showing the drug reduced the need for hospitalization or emergency room visits and high risk. tobit 1000 patients. now the regulator added that it can be used now for treating patients over the age of 12 with mild to moderate symptoms, but cannot be used for patients who have been hospitalized due to cope. teen lilly
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is hoping to supply as many as 1000000 doses of the treatment in the 4th quarter of this year. now the u.s. government previously made an agreement with the drug maker for the early supply of the medication on the news. lately stock was up as much as 4 percent throughout the day. and following the news that pfizer bio and texaco but 1000 vaccine candidate showed an efficacy of 90 percent. the european commission will sign a deal to secure up to 300000000 doses of the experimental drug. the president of the european commission said they will authorize the deal on wednesday after quote, working tirelessly to secure doses of a potential vaccine in the last few months. german health minister, yes. on tuesday had confirmed the block was ready to secure at least 200000000 doses of pfizer's drug adding. they had also made deals with other drug makers. and i assume that with bio in tech, as announced yesterday, that you commission president this vanderlei and we will be able to bring the
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negotiations to a conclusion very quickly. in any case, the mention of at least 200000000 doses for the european union is secured. now it just has to be finally secured in the contract. and meanwhile, biotech's head of strategy, ryan richardson was asked about profiting from the development of a drug that received funding from the german government during a financial times conference on tuesday, saying the vaccine will be priced quote, well below typical market rates. so with all of this in mind, let's go ahead and take a look at the trends and spread of the virus globally with r.t. correspondent, science having your side. where are we today? brand another bad day as they reach 51000000 confirmed cases, a worldwide. now the u.s. has already surpassed 10000000 and confirmed cases and global that's were at 1.275000025 percent of which from the deaths are coming just from the us. as a new infections in the us have been spiked for weeks now. which brings me to the daily
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cases on monday there were 830003553 that reported growing over 64 percent compared about a week ago. now deaths on the other hand, are still been below their peak spring levels, but are still averaging about $800.00 per day. now the number of hospitalizations, because one thing that's also a surge around 70 percent over the past 30 days. and right now there are over, $63000.00 called in 1000 patients in hospitals across the u.s., the highest number ever of in patients being treated for quarter in 1000. now, europe is not in any better situation and right now, but while the us is on their 3rd wave, europe is currently undergoing their 2nd wave. and so more and more countries are going to lock down. the hungry and portugal are the latest employment. a lockdown greece implemented a 3 week lockdown, which started this week. france implemented a nationwide restriction on the end of october, as the belgian and ireland. now,
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germany's lockdown light began last week with austria also following suit and u.k. prime minister boris johnson, also called for a 2nd lockdown in england, which also began last week and in country after country in europe. there are a very near running out of i.c.u. beds to treat goldman $1000.00 pages, which is already the case for some countries like india and iran, which are turning away very ilk over 1000 patients because they just don't have the capacity to treat sir right now. it doesn't look like most countries have any type of long term brand. they're simply just trying to avoid the worst brand. and so are we just talked about new treatments and what's going on in the vaccine race? can you give us an update on vaccines being developed in the u.s. and when they're expected to hit market? so currently there are 4 vaccines in phase 3 trials, right over here now is pfizer more during astra, zeneca, johnson and johnson, now a 5th drug maker. no, the vacs they expect to begin
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a lair late stage trial in the u.s. by the end of the month. now i'm a daring and pfizer, ahead with the other 3 companies and are seen as the most likely to get the ferguson vaccine approval. plus, like you mentioned earlier, pfizer released this week their results from their face 3 vaccine trial, saying that the vaccine was more than 90 percent effective. but just when any of these vaccines might hit the market, that's still a very odd now and it still remains unknown. i should say brand r.t. correspondent, science editor. thank you for keeping us up to date. and the dow rose again on tuesday, building out of sharp gains from the previous sessions as the big market rotation continues out of the names that thrived during the pandemic and into the stocks linked to an economic recovery. however, the s. and p. and nasdaq continue to struggle amid a sharp decline in major tech names. so let's go ahead and take a look at what's driving markets with boom bust co-host, christine, and managing director of the market gauge group and author of the best selling book,
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plant your money tree, a guide to growing your wealth. michelle schneider. thank you both for joining us today. always appreciate having you both on the show. michelle, i want to start with you. do you think there is a divergence happening now between the nasdaq and the rest of the market and will this divergence, if there is one, continue through the end of the year? yes, there definitely is a divergence. and i have to say as a student of what i call an economic modern family, where the russell 2000 represented the grand daddy of the family considering all 2000 stocks have presence in the united states and deal with the manufacturing of the supply side. the fact that we're seeing the rotation into that area along with transportation and also a bit of retail. and most recently the banks means that the optimism, at least at this point, is real both fundamentally with the vaccine news. and also technically with the fact that we went through a week after the election and we broke out of that rain starting on yesterday with
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somewhat of a consolidation today. so i don't see any reason with a new administration coming in all the optimist network. you have considering that even though cases are increasing, we're not really seeing any major talk of business shut down. why it shouldn't continue through the rest of the year. and of course there's always things that kind of set that applecart, but for now, i would say along to your wrong in terms of the rotation amid the big the big buys yesterday we saw travel stocks actually making a little bit of a comeback and carnival cruise lines was just announced a 1500000000 dollars stock offering just one day after his shares jumped the most on record. what's the story there? well, the entire cruise line industry has been absolutely decimated by copa 19. so after the pop we had yesterday, which was a massive relief for those being down names, carnival is now taking full advantage of its stock and rushing to raise fresh
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capital. so as he said, its shares jumped by over 39 percent following the pfizer vaccine news, which is a new one day record for that. so carmel rush to capture the security by announcing this 1500000000 at the market's stock, offering goldman sachs and j.p. morgan for general corporate purposes. so this news and the entire stock down over 5 percent lower on dilution. but now with this replenish war chest carnival can hopefully survive another wave of coven 1000 this winter. so i suspect we will see many more of these deep value stock, which was absolutely hammered by coded and then jumped on monday after the pfizer news to also follow suit, rush to market with similar at the market off raised in order to take advantage of this liquidity and market optimism while it lasts. so we've already seen as a do, it hurts attempted to do it, but really it's going to get difficult as these zombie companies that really aren't even operational right now. try to issue more and more securities that really aren't worth much. now, one of wall street's favor i.p.o.
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names for some reason. we just love talking about these types of companies. beyond me is taking a hit tuesday as it fell 22 percent, despite the news that it's now partnering with mcdonald's for a new make player, product line. what's going on there? well, i like your brand, it's one of my favorite subjects to be on need. i was a big proponent of back down around $75.00 and i personally am beat. and so i was thrilled to see him on the market that i can actually go to a restaurant and order some. and i think that i represent, although i may have been involved in this megatrend way before most people are racially, it's a megatrend in terms of plant based eating. so i don't believe that beyond meat is done. now it got a bit of a shock after the confusion yesterday with whether or not it was actually affiliated with mcdonald's on its nick plant. it did. i love what i read this mixed race class. and that was because the sales were very disappointing,
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after expecting it to be much greater. so i'm looking at the stock right now. i'm actually welcoming this correction. i believe $120.00 is really going to be the pivotal area as we go through this week. if we hold $120.00, that's a good sign. if we break want 20, maybe we drop another $20.00 to $35.00, but at some point the bottom will be and, and it will be time to buy it again to his competitors out there. but still it's sort of like i mentioned the granddaddy of economy in this case. this is really the granddaddy of consumer plant based eating when you go out to a restaurant or by food in a supermarket. absolutely, and it seems like there's definitely more companies like that coming along with the meatless meat for sure. kristie, i want to know a last thing before the time here because it is continuous show strong momentum even after a major rally. how is this rally different from the one that we saw in 2017, where big point hit its all time highs and then subsequently came crashing down? well back in 27000, the entire rally was based purely on speculation and excitement for basically what
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could be possible with blocking technology. so there was a ton of hype which led to fumble, and then you have a ton of uninformed greedy retailers who didn't know much plow their life savings into a thing that will be their golden ticket, that they could ride all the way up without being any wiser to the actual underlying technology. so this entire rally is very different because back then it was a lot of fear of missing out. but you can see through google trends and twitter searches which show what keywords are most searched and trending back. that all the retailer money was trying to figure out how to put money into big climb. and then the entire complex crash when the very, very last fire was actually in. and there were no more additional buyers. no one left to hold the big pop taito to throw to. so unlike back then today it is way more institutionalised high net wealth individuals buying big quite not retailers. so based on google trends, the interest is relatively low for the keyword bit quiet. while the on chain data
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actually shows a ton of accumulation by big whales, so the number of big point addresses holding more than 100 big points have hit a new 7 month high at $16270.00 as the total number of new wales have also increased. so this trend of wales and institutional front running retail investors is actually really optimistic because it shows that big client is still in the very early stages of this bull run. and these are the smart money guys, not the retail traders who will sell on a panic drop. so these guys are going to be who, what will make up the bedrock and the support levels going forward. so meanwhile, large capital from new retail and mainstream investors have still yet to even enter the entire capital market. this time around us a co-host, krypto optimist, chrystia michelle bernard of the market group. thank you both for joining us. thank you. and chinese telecom giant weiwei is reportedly selling its budget brand smartphone unit honor's sources. familiar with the matter,
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told reuters the unit will be sold to the shenzhen government, digital china, and others. the $15000000000.00. all cash sale will include almost all assets, including brand, brand research and development capabilities, and supply chain management. now this comes as u.s. restrictions against weiwei have forced the company to focus on high end handsets and corporate oriented business. main under distributor digital china group will hold nearly a 15 percent stake of honor terminal, which was incorporated in april and is currently fully owned by while away. digital china shares hit their maximum upper trading limit of 10 percent on the news. the sources said an announcement could come as soon as sunday. and meanwhile, china has launched the 1st experimental 6 g. satellite in a plan to roll out the next generation of ultra fast network technology in 10 years r t s. john hardy has more the university of electronics science and
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technology of china, along with the chinese embassy in the u.s. and chinese state media. posted this video of a rocket carrying 13 satellites into orbit november 6th. among them, a 6 g. testing satellite, it will reportedly test the technology of terahertz waves in space. a sensually terahertz waves are high frequency radiation allowing data to travel at 50 gigabits a 2nd or 100 times faster than today's wireless technology. china is reportedly working with telecommunications specialists from other universities, institutions, and corporations worldwide to study the new technology to see if it works. the university of electronics science and technology of china's website says it has educational and research collaboration's with other universities worldwide, including a dozen american universities. so it's unclear if any americans are involved in this project. speaking of america though, it's likely china's latest rocket launch has the attention of the u.s.
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government as well. considering the rocket also carried 10 other satellites with remote sensing technology to reportedly be used for crop disaster management and forest fire prevention, along with 2 other satellites to be used for in orbit experiments such as laser data transmission and earth observation. china's upping its space race by launching 32 rockets so far this year and could hit 40 by the end of the year. china led the world in launches both in 20182019. the country's on when one probe is already on its way to mars, and china is also expected to launch another rocket this month carrying equipment to collect and return lunar samples for r.t. . john hardy. this time now for a quick break, but hang here because when we were churning, e-commerce giant amazon is back in the crosshairs, across the atlantic, as the european union has moved to open up. yet another antitrust case. just on the other side, we'll look at the details of the case and what we could expect for amazon in the
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kopechne 1000 arrows. and as we go to break here, the numbers at the close is you'll media a reflection of reality in the world transformed what will make you feel safe, isolation community. are you good in the right way or are you being so direct? what is truly wants is faith in the world corrupted. you need to descend to join us in the depths or
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in maybe the shallowness you know, those little sleep with which sleep w. you probably wasn't, you are sure boarded the train was benched. it would have been you're going to go with us because all of those who knew these debunkers, those deluded medium, who was in the thick of these with who seem to see this. but as you know, this is a bit some of what is the news. these come home and use the 20th century, was thinking of the revolution, the great depression, the 21st century of mental illness. that's one side of this. some psychologists tell us, the only question is, should we accept it as
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a fact or welcome back. boeing stock was up as much as 6 percent on tuesday on the news that the f.a.a. is in the last stages of reviewing changes to the 737 max jet. now reuters was the 1st to report. the f.a.a. could lift the grounding of the troubled jet. as soon as november 18th in a statement, f.a.a. administrator, steve dixon said, quote, even though we are near the finish line, i will lift the grounding order only after safety experts are satisfied that the aircraft meets certification standards. even after the f.a.a. approves these new changes to the $737.00, max airlines will still have to finish software updates and pilot trading a process which could take another month before the jet can fly again. southwest
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airlines, the largest 737 max operator, says, quote, says it expects it will take several months to follow f.a.a. requirements and doesn't plan on scheduling the jet until at least q 2 of 2021. other regulators across the globe are expected to make similar decisions suit. the 737 max has been grounded since march of 2019 after 2 fatal crashes killed 346. people, you know, it's an accusation we've heard in the past. now we're hearing it again as the european union says e-commerce giant amazon violated antitrust laws by using independent sellers data for its own benefit. we analyzed a data sample covering, covering over 80000000 transactions and more than 100000000 product listing on your us and european marketplaces. and our investigation shows that very granular,
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real time business states are relating to 3rd party sellers listings and transactions on the am some platform they exist to magically feeds into the algorithm of amazon's retail business. it is based on these algorithms that amazon decides what you products to launch the price of each individual offer. the management of adventure is the choice of the best supplier for a product. and it's joining us now to discuss is boom, bust coast an investigative journalist, ben swine. but this seems pretty clear that the biggest problem is that amazon functions in a dual role. they are the marketplace and they are simultaneously a retailer. so what do you make of this? yeah, i think that's exactly what the problem is. and it's very interesting when you look at this report that's come out. essentially what, you know, the e.u. officials are saying they specifically look at 2 countries, france and germany for this report. they say france and germany are 2 of the
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biggest european countries in terms of amazon's presence. and what they also studied was the fact that amazon for its part has they say, stranglehold for lack of a better term on its own platform. so here's how it works. you have a 3rd party, mom and pop shop who comes to amazon and they sell products. the problem is that as the platform, they're not just providing amazon's not just providing a platform for these mom and pop shops to sell products. they're also directly competing with those small businesses by selling products themselves. but here's what they're doing. according to this report, amazon is taking data from all these different shops, and they're deciding which products are the most profitable, which products consumers want the most. they're basing their price points on what the works of these mom and pop shops and small businesses have already done. and amazon is essentially out selling a competitors on their own platform. so it's more than just being a retailer. put it this way. amazon is the platform and the biggest competitor on
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their own platform to small business. and now amazon claims that it has the right to sell products just like anyone else and that they are not doing anything improper. what makes this such a problem in terms of antitrust when you look at it that way? yes and listen, absolutely, amazon does have a legal right to be able to sell the problem that the e.u. is finding is not that amazon is selling problem that they're finding is that amazon is using data to gather information. so the way it was put in this news conference is like this. they say small businesses, if they decide to launch a product, have to do a lot of research, right? what kind of product are consumers looking for? they do a lot of spend a lot of time and money figuring out what the price point for those consumers is. they say that amazon doesn't do that work. amazon is investing no time into research or development, and instead they're utilizing the algorithms that they have set up to essentially look at data and decide based on what others are doing, what price point to set, and what kinds of products to set. another fact that they gave in this news
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conference, which was rick stream lee, interesting to me, is they say that amazon accounts for only about 10 percent of products on their entire platform in the most popular areas. however, in those areas, they account for more than 50 percent of all sales. so amazon knows exactly what products not to sell and what products are selling at the wrong price points. and it's not dated. they're gathering because of work, they're doing its work, others are doing that. amazon is unfairly taking and pulling data from and that's where it becomes antitrust. ben, if i'm playing devil's advocate here, you know, we say amazon obviously is saying they have the right to sell. but don't they also have the right to say, well, 5, we won't sell other people's products. we could just make this all about us. we want to give them a marketplace. obviously there are fees back and forth that we're not talking about here, but couldn't they just do that? i mean, they already know kind of what the best sellers are. that's why they push and that's why they buy the product to sell it. so couldn't they just do that and get
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out of this whole thing? well, here's what they could do. they would have to say in certain categories, no one else is allowed to sell. they could do that. the problem is that, as i mentioned amazon accounts for a very small amount of the actual products that are on their platform. so there's a very small number that belong to amazon, but because they figured out which ones do well they account for most of the cells . there's 2 other things too that i want to mention, as i know we're going to be short on time here in a minute. but there's a new investigation that's being launched because of this last investigation into 2 areas. one is something called the buy box that amazon has on their home page. when you go on there is that by box set up in the upper, i believe it's right hand corner of the page. and it's where you buy immediately products that you're looking for. according to what these these investigators are finding. they believe that amazon has rigged their own algorithms so that the by box is unfairly skewed towards amazon products and not towards their competitors who are also their customers on their platform simultaneously. what they've also
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found is that amazon prime and prime customers are, are seeing the most products. so if you are part of the crying deal in terms of the partnership, if you're a small business with amazon, amazon is doing another thing which is apparently using their algorithms, logistics and delivery services back towards amazon. so if you decide i'm going to use 3rd party delivery systems, not amazon directly, i'm going to use logistic systems that are separate from amazon. amazon is varying the search results for you, and instead they're giving a higher advantage to companies that use them. and again, this may be a whole other set of antitrust, again, unfairly treating those 3rd party groups better. we could do a whole show on this boom bust host, ben swan, thanks for breaking it down for us today. you got it and that's it for this time. you can catch boom bust on demand on the brand new portable t.v.'s, which is available on smartphones and tablets there. google play in the apple app store by searching portable t.v. . but if you can also be downloaded a newer model for them,
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smart t.v.'s as well as roku devices or simply go to portable t.v. see you next time the world is driven by one person dares thinks we dare to ask tactics that can be used to get innocent people to confess to crimes, they didn't commit. i don't even think people in the us really get that the police
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are allowed to lie to you. the person who falsely fast actually came to believe the lie that they were told about their own behavior. once a false confession is taken, the case is closed and nobody really can tell the difference between a good confession and one that isn't he exclaimed joe biden to be president elect come on group. that's not how it works . final vote tallies make that determination. and we aren't very close the election for what is the possibility half the country played the election was stolen. this is a story of women. women with troubled histories and complex court cases. you know, some really believe our whole lives out there. the
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person that hears the cheesiness of the day are considered the most dangerous of criminals. she's in a still all the off 23 hours of the day. tell me that is not enough punishment. world of women on death row out for blood, just a week after the us presidential election said to be contested in court. democrats filed their revenge on team trouble. we have to collectively, in essence, burn down the republican party. we have to level up because there are survivors. there are people who weather this storm. they will do it again. while an election worker from the volga blows the whistle on the ledge to vote fraud, i think some credence to trump is widely crown's to claim the 2020 race was stolen from our guests to debate whether the.


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