Skip to main content

tv   Boom Bust  RT  August 14, 2021 9:30am-10:00am EDT

9:30 am
happen this year will pleasure to be back, review brendan, rachel. well, yes, i would say that the sun is never going to set on the british economy. it does not seem great. britain was actually the hardest hit of the g 7 from the pandemic. and i think many people attributed to napoleon, but it was actually a french, illusionary, who quoted it as being a nation of shopkeepers. they said it while the derisively but it was actually taken with great pride by the british. why it is a nation of shopkeepers and the british are very social people. why was the u. k hit so hard? why is it bounce back so strongly? it is because the british have now gone out a lot of those statistics in the 2nd quarter. of course, we're boyd, by the success of the british, the english 14 doing so well in the euro's, the celebration of every piece of power across the u. k. was making pieces in the shape of footballs thought. apart from that rule, she soon asked the chancellor of the exchequer has said, he's not going to be complacent. i don't think anyone should be complacent about this. bought it is due to a steady hand at the bank of being on some very well in terms of stimulating the economy. and i do think you're going to see discontinue, also, don't forget, it is
9:31 am
a nation that has the 60 in london, high tech unicorns, and i think the high tech business as well as the financial sector on top of retail and all those people going out to shop, like i mentioned the nation shopkeepers, it has helped create that boom. and now whereas it suffered the worst of all the g 7th company countries. it has come back 2nd only really to the us. now we know that back when restrictions were being lifted, there were a lot of people who warned against it because of those emerging variance of the current of virus. and even though in these cases we've seen the u. k. do really well so far. is there still that concern that it could be the delta variant or any other variance that could hurt the economy just out as it's recovery? why? thank you right, rachel? it could be anywhere. everybody's concerned about it thus far, and i'm not a doctor nor my associate just all signed, told us. but i will say this. it is so for proport, so papa ported to be more infectious but way less deadly. so i think that has
9:32 am
people less scared. i also think it's like many things in life. i think the nation in the u. k. like the u. s. people who become accustomed to this people are accustomed to mosques in the u. k. people are very, i would say, socially conscious and sort of a, a, b, b. i says they follow the rules. that is the nation with the largest percentage of people that have been vaccinated. that's due to the national health service and their roll out plan. so what was the vaccination, the ma squaring, conscious social distancing? overall, i think people are just going to cope with it. we just have to continuing carry on . and now, hillary, i want to go back to the 1st story we did about richard branson unloading $300000000.00 in stock of virgin glass. and he says, in other companies are still deal, or the company says that it does say that there's still dealing with pandemic related issues. what do you make of this whole? so actually i would say boys and their toys and jeff pays off. it was a big game to go into place on, but i do think it's very sad that i'm actually the stock was downgraded by wall street analysts. and i think that's part of his sell off. it was 10 point over
9:33 am
10400000 shares. you mentioned $300000000.00 was on, but he said, and his group has said it is the shore up the other parts of his business, the leisure, the travel, but the bookings were down. i mean, how many people do you know that have the money, the time and their life to waste, maybe with some accident going into space? i think for the very few, maybe his own enthusiasm, led him to believe and his group to believe more people would be lining up to perhaps die and space. but i think it's a sad thing is a lot investment bought. he's always done very well. and he wants to shop his all the companies, particularly as travel companies, if he doesn't show them up now, will they make it through? as rachel, just raise the delta variant, and the doubts out there in the economy. he has to make it through. and i think that's what he's done, he's, he's divesting himself of other parts of the business, so we can sure up those that will continue. now while we have you on here, we have about 30 seconds left. but i want to bring up another story which is kind of the story that keeps on giving and that is post rec, that trade between great britain and northern ireland,
9:34 am
or rather the republic of ireland. we see that it's down 29 percent in the 1st 6 months of the this year compared to the same period in 2019. what's happening there? ok. it's called something rachel, it's called it is to get the kids. i'll be back and turned 2030. but it is that the land bridge, what this was with the goods from ireland to go to the you, they would actually go straight from dublin directly across to wales in pembroke. sure. there's a number of ports and they go straight to those port holly head and another providers. and from those ports they would drive across the u. k. and go straight down to the south coast, go go to kent, and then they would go, they would take ferries over to the u. k. it's cool. ro roll on roller off from the trucks roll onto the freights. and this ro, statistic is what is down? why? because now the cost benefit analysis of unloading and driving across the u. k. has been obviously ruined because of all the red tape coming from the u. k into the u. so now they're shipping directly from dublin to the european continent,
9:35 am
and that's what happened. and that's why that shipping number is down. they're going not the english channel route. and hillary ford, which of the british american business association always take that opportunity to talk about how well the british soccer team did in the year. they couldn't clinch it to the world and billionaires jeff pays as bill gays and michael bloomberg are getting called out online after it was revealed that they are pouring millions of dollars into the hunt for precious metals in greenland. r t. john, heidi has the details on what they're looking for and why greenland, here comes the money billionaires, bill gates, jeff bezos and former new york city mayor michael bloomberg. among others went to drill through greenland thick ice to find raw materials to power. a new generation of electric cars, co bold metals, a mineral exploration company, backed by break through energy, which is funded by gates bays as bloomberg and other prominent billionaires,
9:36 am
including investment banker, ray dalio, and virgin galactic richard. branson has entered into a joint venture with the london base mining company, blue j mining to mine, greenland for raw material such as nichol, copper and platinum. as the company writes on its web page, cobalt metals is a mineral exploration company that uses machine learning and other scientific computing techniques to increase the ethical supply of critical materials needed to build electric vehicles and personal electronics. many new mines will be needed if electric vehicles are to become widespread, but before new or deposits can be mind, they must be found. so why greenland? well blue jays own studies show the central west region of greenland is reportedly similar to russia's north oscar region. a large producer of nickel and palladium cobalt says it will spend $15000000.00 to help lou j locate natural resources. the 1st phase of the so called disco project named after the region in greenland,
9:37 am
they'll be searching to hunt down and dig up world class battery metal deposits according to the companies. clearly it's a business venture for the billionaire boys club and an opportunity for the u. s and u. k. through this wealthy mining and exploration adventure to put some pressure on china and its massive mining and raw materials market. greenland has been the subject of discussion among america's political and financial elite in the past. in 2019, then president trump even floated the idea of the u. s. buying greenland because of its abundant natural resources and idea that ultimately floated away and sunk like a glacier. whether or not this 1000000000 are blitz turns greenland icy water and polar caps, blue like cobalt and green, like the color of money being invested in the venture remains to be seen. the markets are mostly up for the week as we see a whole host of new economic data related to g, d,
9:38 am
p, and inflation. we start in russia where the mo, x is in the green rushes economy grew in the 2nd quarter, and it's fast paced in the year 2000 up 10.3 percent compared to the same period last year, according to official data released friday. russian oil, giant ra snapped reported 2nd quarter earnings on friday as well. seeing net profit search to $3200000000.00 with revenue doubling. i'm going to recovery in crude oil prices. let's move to asian market. the shanghai composite is up despite chinese official saying they would increase scrutiny on the tech sector in the coming years . chinese stock saw their biggest gains on monday up one percent for the day, trying to ever grand group and ever grand property services are big games throughout the week. the company talks about selling its stake in its e, b and property management businesses. more of the same in hong kong for the hang thing after 3 days of gains, the index took a hit on thursday and friday to close out the week as investors worried about that
9:39 am
document pointing to future regulations on chinese companies. and the ne k in japan is also up the index made most of its gains mid week. the semiconductor sector, however, is struggling to close things out as the chip shortage continues. now, economists pulled by reuters, believe the japanese, the company will grow by 2 points. percent for the 3rd quarter of this year, much lower than the anticipated 4.8 percent expected in june. and in india we have another green arrow for this 10 sex heading fresh record highs on friday. banking and stocks were big winners to close out the week. most of those games have been attributed to recent economic data, showing factory production, surging and inflation taking down about 3 quarters of a percent in july. more of the same in our strike as the as sexes up the nation's biggest lender, commonwealth bank of australia said wednesday it will return $7000000000.00 to investors and buybacks and dividend, as it's a massive profit amid it's quick economic recovery. something to keep an eye on here though. business competence in australia fell 19 point than july,
9:40 am
amid new locked down to combat the spread of the delta barrier. another green arrow for the all share in south africa business competence in south africa also took a hit in july, falling to 9 month low following those riots that cost the economy more than 3400000000 dollars. the south african ran also took a hit this week, giving up most of the game seen in 2021 training about a half percent lower than at the start of the year. now let's go over to rachel for europe in the america. thanks brent. here we start in the u. k, where the fuzzy is up now, as we mentioned this march london longest weekly winning streak since november with the index heading and 18 months high on wednesday. the latest data shows the u. k. the economy grew by faster than expected one percent in june, where growth was largely carried by the health care and hospitality sectors. as restrictions were lifted nearby, the german docs and french kac are both in the green. the dax hit record highs on friday, surpassing the 16000 mark for the 1st time ever. and in france,
9:41 am
the index responded to the latest data, showing unemployment fall more than expected in the 2nd quarter. while europe largest economy is still struggling to return to pre pandemic levels, it is expected, but at least an 8th of germany's g. d. p growth is here. will be credited to profits from by on tech, and it's not seen partnership with pfizer. let's go across the atlantic to brazil now where the bo best buy is down. while the central bank move to raise interest rates by a full percentage point marking their largest jump since 2003, a combination of increase commodity prices in the worst drought. the country has seen in decades are still taking a toll as brazil, struggles to cut inflation in how to get it back down to their target. a 3.75 percent. it's a similar story over in mexico where the b m. v is in the red, and inflation is also double the central banks target. after a surprise rate hike have little effect on consumer prices. in june,
9:42 am
mexico announced another increased interest rates by a quarter of a percentage point to 4.5 percent on thursday. and here in the u. s. the dow and the s and p 500 hit record highs on friday. while the nasdaq ended the week in the red, as all eyes remain on the side and it's for caspar pulling back on pain demick policies, unemployment continue to fall, and the latest cpi report drove talk. the inflation could start to decline in the coming months as the increase in cor prices was less than expected. and finally in canada, the t s. x is up, the next pulled back slightly after hitting a record high on wednesday, the materials, financial and energy sectors all took a hit, mid concerns that demand would fall significantly in response to arise and koby case it moving into next week, we will continue to monitor the state of the ongoing recovery and how it is being impacted by record inflation and time now for a quick break. but when we come back,
9:43 am
could we soon see a g 20 nation follow in the footsteps of l. salvatore? just on the other side, we take you to argentina where the nation's president has pitched an interesting method of dealing with in place to get a break here, the number that the close the mm mm. mm mm. the problem of the death failing is that it forces them to admit what that number is like 3 or 2, which are the money supply numbers. once the numbers got so scary,
9:44 am
they stop reporting them. similarly with the debt ceiling kabuki theater. that happens every couple of years. they're just going to get rid of it won't even announce that number. it will be impossible to find what the data for the american is. it will just say a number sign for infinity. the british and american governments have often been accused of destroying lives in their own interest. while you see in this, these techniques is the state devising message to end essentially destroy personality of an individual lifetime. means this is how one doctors, theories were allegedly used in psychological warfare against the prisoners deemed a danger to the state. that was the foundation for the method of psychological interrogation, psychological torture, disseminated within the us intelligence community, and worldwide among allies for the next 30 years. and how the victim say they still
9:45 am
live with the consequences today. the upkeep, you go to deal with a 6 day marathon, a creativity, multi cultural festival. and the biggest variety is the competition for a few days. became a russian cultural capital. 28 categories. ahh . from filing a piano to the parenting and data protection night years just throwing up over the water. sure. you know if you could get some kind of a 3 or for them to
9:46 am
be here. they filter when reading or content, the delta games only take the very best of the best buy. i welcome back. another country enlighten america may be considering making bitcoin official. now a salvador is set to become the 1st country to make the world's most popular crypto currency, legal tender starting next month, alongside the u. s. dollar. and now argent. tina is saying it could be next. that's according to the countries president who referred to the rise of crypto currencies as irreversible noting crypto has the potential to nullify inflation. when asked if the central bank is considering adopting its own digital currency or even making
9:47 am
bitcoin legal tender, he said, quote, there's no reason to say no. the adoption of bitcoin could have a massive impact on a country that is no stranger to inflation. for context here in the u. s. the annual inflation rate hit 5.4 percent in july, its highest point in 13 years. however, in argentina inflation hit 50 percent last month, substantially from the government's target of 29 percent. while argentina does have its own national currency, it also relies heavily on both the u. s. dollar and the international monetary fund . in fact, the country is currently indebted to the i am not to the tune of $45000000000.00, and the fund has already issued a warning to all salvador to try to compet from adopting crypto. so joining us now, josh is doing bus co host an crypto analyst, christy. i know christy what kind of an impact could bitcoin have on a country like argentina where skyrocketing inflation has become almost normal?
9:48 am
yeah, well big client has huge potential to thrive and say the argentine economy argentina is basically struggling from enormous that obligations to high inflation. and that's all been compounded by coven 19. so it drove its population to seek alternative ways to store their wealth. as the government had to limit us dollar purchases by citizens. so dollar purchases shrank to only $200.00 a month for a citizen with a 35 percent tax on top. if you can't buy the us dollar to store your wealth, the next best thing is crypto. and in a recent survey, 73 percent of argentina citizens believe that crypto currency is the most effective savings method in the current economic crisis and a hedge against inflation. and it's really not only inflation that big protects against, but it's also uncertainty. for example, the argentine government usually announces new financial, restrict measures in the late hours towards the end of the week intended to be implemented the following monday. so these announcements usually come as
9:49 am
a surprise, and citizens have absolutely no warning, no preparation for whatever new taxes the evaluations they might face next week. so this makes for very unpredictable living conditions. in contrast, bitcoin has no centralized governing body when it is volatile, the volatility in the pricing a big point, it's uncorrelated to the economic woes of any particular country. so relative to things like, obviously you pay so are the l. salvatore in dollar? it's actually quite stable and christy, we saw g, i m f word el salvador against bitcoin. they're likely to do the same with argentina. but how much power does they have actually have here? and how is keeping these countries in severe debt playing into that call? unfortunately, the i am a does have a lot of power as they hold a lot of money and they provide assistance and funds to debt late in countries or countries and crises. so while that sounds really good and all in practice, it's more like a drug dealer because yes, you feel really great for a while, but soon you'll just need more and more and more. and that's when things start to
9:50 am
get really expensive. so that's kind of what happened to a lot of these kind. they took money from the i enough, which is not free. it comes with a whole host of terms and conditions, etc. they demand fiscal austerity, high interest rates, trade liberalization, privatization and open capital markets like these terms. they've often been counterproductive or target economies and then turn it hurts more than it helped as a devastated local population, who then have to pay the taxes. and many of the terms are described as overly ambitious and out of touch with ground level realities. so i mean, look at greece, that was literally the most high profile example as the sturdy measures deepen in 2015 and they demanded raising taxes on local privatization industries, lowering pensions and other spending cetera. and they're still recovering from it. so unfortunately, they weighed a lot of power and influence has outdoors currently in discussions with the funds seeking a $1000000000.00 program. and i'm sure that has some say and what happened to their bitcoin pilot program rollout. yeah, the i am the know exactly what they're doing and just how much control they're
9:51 am
getting when they say that they are helping out the country. now, even if they do have some influence, even if argentine and doesn't implement bitcoin as legal tender anytime soon. what kind of a message does the willingness to do? so send to the public especially compared to countries like the u. s. and the u. k . where lawmakers are constantly warning the public to stay away from crypto they're referring to them as dangerous. well, it shows that the client is literally doing what it was created to do become the biggest mechanism for a global wealth, be distribution that we have ever seen. i mean, that was the entire point, a big point. it changed the current financial system, which is broken and takes back control and gives it back to the people that was the entire mission of bitcoin so that people can bank themselves to reduce the number of and bank and to give financial freedom. the freedom to wire, the freedom to transfer to send to bed without any intermediary barring. you are restricting you with any sort of capital controls because when your money is in the bank,
9:52 am
not really yours. sure. and developed nations like the u. s. it's not as bad. you go to the bank, you try to withdraw the $1000.00 today right now. they wont let you the mark, you fill out a ton of paperwork, asked what it's for. it'll be a long process, but eventually you'll be able to withdraw it. maybe not this minute. but most of us here are pretty confident that we'll be able to later. because in develop nations, we have some level of confidence in our banking system for now, which is good, but it still highlights the point that the money really isn't yours. it's up to the women the bank to allow you to withdraw or not. and they could very easily make up some reason to not allow withdraw, especially during times of prices. and it's our blind trust in the banks. that's our biggest crunch versus an undeveloped countries. you have less people infrastructure and banking system so that the concept of your money not being yours is more apparent. you don't trust the bank there because you never know when i'll blow up. have a liquidity run, or in some cases have an entire regime change and have your entire account wiped down and reset. so that's one big coin really shines because the entire
9:53 am
infrastructure is based on trust las protocol. no intermediary, you don't have to trust the bank. you own the asset, so it's quite obvious why developed nations like the u. s. and the u. k. they're fearful bitcoin. i want to regulate it while undeveloped nations embrace it because the coin is a catalyst for the regime change. boom bus. christy, i thank you so much for your expert analysis on this topic. and finally, part of soccer legend leon l. method compensation for signing with pear saint germaine this week include some of the clubs crypto currency fan tokens. messy side, a 2 year contract with the french club on tuesday, and according to reuters, p s g said the tokens were part of his quote, welcome package, which is reportedly worth as much as 35000000 dollars. they did not say how much of that was actually in the token, but did say it was a significant amount fan tokens allow holders to have a say on minor decisions, most of the time related to the associated team, socio dot com,
9:54 am
which provides the tokens for several soccer says they have generated $200000000.00 in 2021. so is this going to become the new trend where they say matthew did it now we need to have our own tokens and make sure we can become closer with. well, there's a lot of teams actually that have these tokens. so i believe that was manchester city has it. and then there's several other big, high profile clubs who also have those token then it gives, you know, it's a crypto currency that essentially the fans could trade. but that also it gives them, say, ownership, stake in the, in the club. and that's it for this time. you get boom by on demand, on portable tv available on smartphones, tablets through google play in the apple app store. portable tv can also be downloaded for samsung, smart tv, and roku devices, or simply check it out portable doc tv. we'll see you next. me. ah,
9:55 am
ah, one of the worst in mass shootings in america was in las vegas in 2017. the tragedy a close a little of the real big. where many say elected officials are controlled by christina learners. the vegas shooting revealed what? the l v m p. d really is and now it's part of the spanish and most of the american public barely remembers that it happened just shows you the power of money and las vegas. the powerful showed that true colors, when the pandemic had the most contagious contagion that we've seen in decades. and then you have a mayor who doesn't care. so here's caroline goodman, offering the lives of the biggest residents to be the control group. to the shiny facades conceal a deep indifference to the people, the buyers could have been saved if they were to take an action. absolutely keep the registering and keep the slot machines doing. this is a money machine is
9:56 am
a huge cash register that is ran by people who don't care about people live streaming, wash the me ah, the ah, the other stuff. and then need to talk to someone like it could be
9:57 am
more than that for me when i'm in a new position that we need to make on it for me, which mobile phone bill. and it isn't about what it was which day join me. but it was easy, i got to know good. how do you think you put an office? me going to be as long food. i want to tell you the other hand that what you need is that quote the
9:58 am
mr. moseley. when you said that you left the good to google, i want you to do i see you have been going to show you. so you didn't know if you didn't. if the mother molar, that's what you will cover. the 1st of all, i don't know for you in your voice to follow because that's how much is the most meadow a lot. nobody me on the is a soccer. and so, you know, give me your partially
9:59 am
hon. ah ah ah when i was shot the wrong one, i'll just don't the rules. yes to fill out the thing because the kid an engagement equals the trail. when so many find themselves, well the parts we choose to look so common ground in
10:00 am
the gun is done. spinning control is done by the taliban to rapid advance toward cobble the you know, to the medicine group to hope the violence in afghan is done. meanwhile, the president refuses to step down going against the key taliban condition for a peace deal. while africa national to risk lives assisting for a military, it's now fee of violent retaliation from the resurgent taliban. we speak to a former translator who ought to his identity to be concealed for his and his family's safety. strongly believe that the other one was down or been interpreter, who served the partition in american forces. it will be the african interpreters will pay the reports.


info Stream Only

Uploaded by TV Archive on