tv Boom Bust RT April 6, 2021 9:30am-10:01am EDT
now to an end game equals betrayal. when so many find themselves worlds apart. just to look for common ground. this is boom bust one business show you can't afford to miss i'm rachel bludgeons in washington coming out to north stream to pipeline is reporting increased security as we u.s. ramps up a presence in the region so what does this mean for the ongoing conflict with russia. jobs are surging here in the u.s. in response to a new jobs reports that shows the u.s. economy is recovering faster than expected that case program to help small
businesses survive the pandemic was also helping some of the richest members of society maintain their art collection all the steps and all that we have allowed to get serious let's get started. the nordstrom to pipeline could be hit with more than just saying shit as the team behind the project is now warning of security threats at the hands of opposing militaries a senior official with the group behind the pipeline said the project's fleet has been the target of a regular provocation by foreign civil and military vessels he said there has been multiple examples involving other ships and that the number of cases of low flying foreign planes has increased in the last few weeks the u.s. and russia have had several close calls in the region last year sparking concerns that a more serious military conflict could break out washington has threatened saying against those involved in building the pipeline which stretches from russia to
germany and provides a reliable energy source that bypasses ukraine and it's ukraine that just confirmed plans to hold military drills with nato in the coming months in response to increased tensions along the country's border with russia while moscow. the u.s. and its nato allies against getting too close to its border by an administration continues to call on its own now lies to back out of the nordstrom to project even though the pipeline is now 95 percent complete. there is a little known company in baltimore maryland that has been vital to a covert 19 vaccine supply chain for drug makers like johnson and johnson which planned to deliver millions of doses by the end of may but that all changed when the plant was forced to throw out 15000000 doses of the vaccine and the u.s. government was forced to step in are to use trannie chavez has the latest today johnson and johnson doing damage control after it had to throw away 15000000 doses
of its covert 19 vaccine following a production error at the emergent bio solutions in baltimore maryland the error occurring after the libyans for the astra zeneca vaccine were just covered in the johnson and johnson batch the astra zeneca vaccine ingredients are produced on the other side of the same facility the biden administration now stepping in putting johnson and johnson in charge of the plant and stopping the production of the astra zeneca vaccine at the facility to avoid future mishaps johnson and johnson taking full responsibility saying in a statement johnson and johnson is assuming full responsibility regarding the manufacturing of drugs substance for its coded 1000 vaccine at the emergent bio solutions incorporated a view facility specifically the company is adding dedicated leaders for the operations and quality and significantly increasing the number of manufacturing quality and technical operations personnel to work with the company's specialists already at emergent the vaccine mix up now delaying authorization of the plant's
production lines still though the biopharmaceutical company says it's working with the food and drug administration toward emergency use authorization for the baby facility and the white house underscoring their message of safety. during this critical time of vaccine production it's important for people to remember that this . plant has not been f.d.a. approved it's still going through a rigorous review. of course working through that process to bring the facility on line and gain authorization but according to the associated press documents show the f.d.a. repeatedly has cited emergent bio solutions since 2017 for poorly training employees cracked vials and problems managing mold and other contamination around one of its facilities now i reached out to a merchant for comment regarding those claims and have not heard back meantime despite the mix up johnson and johnson says it still expects to deliver 24000000
vaccines this month and 100000000 doses by may reporting in new york trinity chavez r t. stocks here in the u.s. surge on monday in response to a new report which shows that 916000 jobs were added last month in addition to the best performance since august of last year it was also significantly more than expected bringing about hope that the u.s. economy is on its way to recovery so joining me now to. co-host christine and david mack ommaney see mcelwain financial group david let's start with you and let's also start with oil we know that it's falling more than 5 percent on monday as opec plus agreed on thursday to monthly production hikes for may to july so what's happening here and what are these talks going on between the u.s. and iran about. thanks rachel or remember that prices rose last week after the announcement of the production the markets are keen on opec's view of demand
increasing globally and read the production increase as opec signal of confidence that there would be rising demand into the summer months this week the key concern is that kofi concerns are alive and well you've got the u.k. considering an extension of travel restrictions you've got cold cases spiking again india is considering strict lockdowns in mumbai india reported its highest number of newly cases since the beginning of the pandemic and so of course into that country oil imports would be negatively impacted as last week's news was was very important for the oil markets you have supplies coming back that have been suspended in recent months and there are 352400000 barrels per day that will be coming back may and then more in june and then more in july so a very modest increase spread out over several months the issue there with iran in
the u.s. they are talking about a return to the nuclear deal and i think that does raise a little bit of extra pressure for the oil markets with the idea that you could have increased oil supplies returning to the markets from an easing of the sanctions with iran. certainly are to look forward here and it is interesting when you say all of those lockdowns because you have countries kind of going back and forth depending on their number of cases and of course that then goes out to the market with them expecting exactly what those lockdowns are going to look like moving forward before they even know exactly what they will look like now kristie here in the u.s. equities are surging on monday as a strong jobs report is showing a rebound in the services sector break that one down for us. well after this long weekend the jobs report confirmed that the u.s. hiring search in march as employers added a seasonally adjusted 916000 jobs and march which was as you mentioned the very best number that they've posted since august so expectations were only for
a gain of $625000.00 so excel already pace of hiring it's very optimistic as the previous couple months that the latter half of the year saw a very big slowdown and this is especially important because traders have looked to the pace and the temple of hiring as indicators of a financial rebound not just the absolute number so the jobless rate fell to 6 percent of the point 2 percent which was in line with the mets and certain sectors like leisure travel dining that look like there's again significantly in the month of march which points to a broader rebound manufacturing has been robust across the board and at this rate at this current pace of recovery a faster anticipated acting rollout coupled with this extra stimulus thing then it kind of increases the chance that the fed will likely elevate interest rates sooner than originally expected is a lot of hope there for the markets now david speaking of markets here in the u.s. it seems to also be building on this recent strength after president biden
introduced his maldive trillion dollar infrastructure proposal however biden's plan faces opposition among republicans and senate minority leader mitch mcconnell said last week that biden's plan would not receive republican support so where does this plan stand now and do you think that it will actually get approved. now one of our core interests as a firm is in infrastructure so we'll be looking forward to seeing how liberal the definition of that word becomes we also see natural resources benefitting from the answer infrastructure plan of course on tax the republicans will obstruct on this it's politics as usual this is not about whether your fiscally conservative or not the g.o.p. hasn't been sicily conservative a day in the last 20 years but they do have a point of criticism the vast majority of the spending has nothing to do with infrastructure 639000000000 is infrastructure related the remainder is for broader spending wish list so legitimately the republicans are critical. you know selling
an infrastructure bill which is not entirely a structure related so what you see is the biden parties and a number of his advisors are attempting to broaden the definition of infrastructure so that more of the 2 trillion dollars passes the sniff test i think a market to watch in here is the bond market there is going to be more of a political fight ahead and we assume that the plan delivered to some degree is going to show up in the 10 year 10 years been remarkably calm in the last day or so after pushing towards $1.00 and that market should be a decent signal as to how the infrastructure plan is going to pass whether in part or in whole and that always seems to be the case whether it's code really for its infrastructure they always named the large bill of a large package or one thing and then all of a sudden you find that there are kind of other things included in that now kristie
speaking of the u.s. we know that washington is a leading the charge into this week semiannual virtual meeting and the i.m.f. coming out trillions of dollars in stimulus now china is also doing its part even as it starts to pull back on some of its economic aid so where does the rest of the world stand here. well right now this recovery is starting to look a little lopsided actually the rollout of vaccines that fiscal support kind of differs across country to country so mungo lagers are most emerging markets in the euro area such as france and italy which of extended their restrictions so while the overall outlook has improved the i.m.f. managing director chris to the edge already but said the prospects are diverging dangerously vaccines are not yet available to everyone everywhere and too many people still continue to face constant job losses of poverty and to me countries are now falling behind so even though the world economy is now on course for the fastest growth and more than half a century this year it could take years for swaths of the world to join the u.s.
and china and fully recovering from the pen that may so by 2020 or so world out put will still be 3 percent lower than was projected before the pandemic with countries relying on tourism and services to find the most so in contrast to the u.s. you have france germany italy and the u.k. and japan they're also contracting and with an emerging market you have brazil russia india still clearly going out to china and this will eventually have consequences and the cost of borrowing is rising and rising long term interest rates tighten the global financial condition and that has massive implications for debt the same ability especially for countries that went deeper into debt to fight the pandemic so as major developing markets central banks are all now experimenting on how hot they can run economy before inflation becomes a problem emerging markets will now need to be extra careful to not fall behind the curve in particular there brazil colombia hungary india and mexico and south africa they are all at risk over these policies. one point to consider here kristie i
dated mcelhaney thank you both for your time. time now for a quick break when we come back why do some of the wealthiest and british society receiving small business loans can what's next for the actual small businesses that are struggling to cope after a year of lost out will discuss and as we go to break here's the numbers out the quote. you know a lot of people speculate whether or not god exists or not i'll tell you one thing that i can guarantee does not exist financial regulators.
we are segregated only by social class. of class people also in poverty they 1st. if you're born into a poor family if you're born into a minority family if you're born into a family that only has a single parent that really constrains your life chances people die on average 15 years old if you're born into generational poverty. it's a. fight every day she who meet your needs and the needs of your family. so what we've got to do is identify the threats that we have it's crazy. let it be an arms race. spearing dramatic development only really. i
don't see how that strategy will be successful very critical time. and tom. made european union continues to struggle with this vaccine roll out while also withholding approval from russia's sputnik v. and telling moscow it doesn't need to draw up but that's not enough for the member states that are now seeing a 3rd wave of code 19 during their latest talks leaders from germany and france made it clear that they are interested in russia's vaccine and they could be looking to make their own national duals if european regulators do not approve the drug they join italy which has already made deals to start producing the vaccine
and hungary and austria which are placing their own orders directly with russia meanwhile the creators of sputnik me have accused europe address. bagging its feet and refusing to sign off on the drug at a time when its citizens need it the most. tensions between the u.s. and china remain high with the binding ministration now making it clear that it has no plans to in the ongoing trade war anytime soon but there is one company calling on washington to put politics aside and warning the international competitors are benefiting from the continued blockade archies natasha's sweet explains why boeing is calling on the u.s. to end all trade restrictions. well the u.s. government is one of boeing's largest customers the airplane manufacturer is setting its sights higher boeing is urging the u.s. to separate china's human rights issues and trade this comes after the bight administration has hinted at not lifting remaining sanctions from the company stray center at a recent aviation summit organized by the u.s.
chamber of commerce boeing's chief executive david calhoun stressing the significance of having a healthy and competitive trade with china i think a tougher a bigger one and a lot of the one we're through is going to be china i think politically that's more difficult or this administration in the end it was the last administration. but we still have to trade with the largest partner in the world china we still have to trade calhoun saying their european competitor airbus would benefit from their current limitations then i hope we can sort of separate all actual property human rights. from trade. and to continue when courage of free trade agreement we need to economic juggernauts i think it's critically important we cannot afford to be locked up more. our competitor will jump right in. it's just not it's just it's just is nothing that comes from the strip to trade tensions have been rising
between the u.s. and china for the past several years most recently during talks in alaska last month things were heated what i'm hearing is very different from what you describe . i'm hearing deep satisfaction that the united states is back there we're reengaged with our allies and partners i'm also hearing deep concern about some of the actions your government is taking salute you. so let me say here in front of the chinese side the united states does not have the qualification to say that it wants to speak to china from a position of strength and more recently in brussels u.s. secretary of state antony blinken speaking at nato reiterating concerns washington has with beijing consider 5 g. or china's technology brings serious surveillance risks but china is condemning the u.s. for declaring beijing has committed genocide against weaker muslims and other minorities in the western and an associated press investigation released its findings in june
uncovering the chinese government was forcing birth control measures on ethnic minorities including i.u.d. fittings contraceptives and even abortions and sterilizations but according to china's foreign ministry spokesperson the allegations are false may phone to be a fact based on the lies and false information of the individual and say china forces the us side has the clear the genocide exists in china's chain young which is the most preposterous lie of the century it caused serious affront and it insulted the chinese people and wantonly trampled on the international law and basic norms governing international relations the added sanctions and trade restrictions are reportedly leading china to get the upper hand on taiwan's technology and talent from its local semiconductor industry as taiwan floor shoes in the ever growing chip industry china is looking to get a piece of the pie according to taiwan's economy minister of the ongoing trade war is causing china to poach talent and infiltrate technology to boost their own power
while taiwan has strict laws against these measures china is able to legally set up companies on the island while also using taiwanese headhunters. as for boeing the american plane manufacturer and its european rival airbus both sell about a quarter of their planes to china but china has been reluctant to purchase the $737.00 boeing max after 2 fatal crashes caused by its faulty system and while the jet has been redesigned and approved to fly in the u.s. beijing says that it will take a step by step approach before approving any future purchases of that jet reporting for us to touch suites are. in the face of unprecedented the lockdown measures last year the u.k. was one of the countries to offer loans to the small businesses that were directly impacted but now it appears that their relief also went to dozens of aristocrats that's right the latest data shows that at least 50 nobles including dukes earls
and wide counts turn a public funds in order to pay staff to maintain their mass of the states and their multimillion dollar art collection so joining me now to this just the latest scandal is jeffrey tucker editorial director of the american institute for economic research ok jeffrey not only did these individuals come from historically wealthy families but some of them were even members of the house of lords in parliament so they were already getting paid by taxpayers is this just adding an extra bonus. you know we're going to fit into this next year discovery channel after scandal i just got you know what happened in the early days you know after after the pandemic in the lockdowns came there was a sense of governments like oh no we've made it impossible for people to make money for well to come from what have you to do what have you to do and so it was your billions hundreds of billions of dollars being thrown around the governments of the around the world especially the u.k. and the u.s. or you know just shut up and take our money take all of our money right now and
very few eligibility criteria and wherever knitted there's just a panic rush in the us that money ran out like you know just a matter of weeks because everybody was just drinking up that both out of me but also because you know when given the free stuff you are going to go for it and i tell you but i know somebody cases in the u.s. where very very wealthy institutions is huge and dominance and no real financial problems at all were just taking what they could get and it was a scandal really i mean and so yes this is going to be pouring out for the next year and a lot of it's color race suspicious same time governments just weren't very careful about their eligibility criteria it certainly seems that way and i guess for these people they had to make sure that their art collections were protected if that smell be excuses that they have coming back around now when it comes to the u.k. it says that it issued more than $75000000000.00 pounds worth of loans in the last
year and it is also handed out another $1200000000.00 as part of this future fund meant for start ups and new businesses but there appear to be countless questions as to where the money is going who is actually eligible and how much is enough fun what are the concerns for these cases where it seems like transparency is more of an after thought. so here's here's the problem right to the posters do this and it goes money available because they think that you know this is the right thing to do given lockdowns and the need for you know seeming to generate economic growth and so on but in practice a lot of the stuff just call up like like like a scandal is going to look like just just like jess dumped on the public and here's the thing about all these loans is the way this for government works right so a lot of times it happens they create programs that are designed for those in need but those in need are the people who are least likely to have access to the means to make the applications and follow all the procedures and the best typically the
ruling class in the rich and those of you who don't need the money so it's a typical case you know programs all over the world designed to help people who are and me but the people in her need don't use them so they get stopped up by by by you know people with access to power and the scandals are going to be just an relenting for the for this coming year i don't know if the public can really put these people on trial you know they're going to try to investigate them but you know a lot a large part of the rich that we're getting the loans just followed through with the application procedures and then existed i mean it was just one bad policy after another like lockdown now to spend hundreds bizarros now the start of us of the print trillions of dollars it was you know 2020 was the year of the worst public policy probably in the history of the planet earth or certainly going to be feeling the effects of that for years to come now when it comes at
a small business is it actually didn't get the loans they seem to now be running into the trouble of trying to figure out how to now pay that money back and that could lead to them taking out even more alone so what does that mean for those businesses who took that money in order to survive but now a year later are still finding out that they still need to survive well and part of the for the problem here is that they. they have a basically a year worth of revenue and business to make up for it but they were hit everybody's hit so hard hospitality especially you know any kind of hotels and restaurants and travel related industries they've been so was hit hard by the shutdowns the pannikin trying to make up for what they've missed in this true that customers are now going out to restaurants again they're traveling again and that sort of thing but you know it's hard to just make up for a year's worth of lost business in just a matter of months so you have to try to play catchup right now on another metaphor
but it just you know paddling to keep their heads above water you know it's it's very bad and now they're strapped strapped with cash a lot of people change professions in the meantime they're also having a hard time recruiting workers back to come to work i know some of the restaurant owners who just can't seem to get workers because everybody has to be the used to being lazy the being paid by by all these subsidies the government's getting so it's just a real mess that is wrong great insight as always jeffrey tucker thank you for your time thank you. that's all for now you can catch brewmaster on demand by downloading the portable t.v. app for your apple or android device will see her next time and as always don't forget to question more. problem drugs don't always come from unscrupulous dealers but from pharmacies to in every state in the united states we see me very sharp increase in the number of
people seeking treatment for addiction to prescription opioids and invented america under the banner of medicine he persisted with the pain but instead of trying to wean him off though she just goes after dose after dose after dose and really became his drug dealer so who's to blame the patients don't do as many affection as all the governments of. the world is driven by shaped by the curse of those with. the dares thinks. we dare to ask.
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twitter suspended the account of an r.t. america correspondent only agreed to reinstated once a decade old video of alleged us removed. their graphic content policy the reality here part is it is to watch a video right now and the american people need. astra zeneca as covert vaccine is in the spotlight once again as the european medicines agency's top official links it to blood clots while the medical body itself goes on for using the jobs benefits . a former u.s. intelligence analyst faces years in jail for exposing america's assassination program we speak to a whistleblower who's been in close contact with.