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tv   Boom Bust  RT  August 19, 2021 3:30am-4:00am EDT

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the this is been bus one visit you can't afford to miss. i'm rachel 11. and i'm friendship or in washington coming up. the u. s. has moved to stop the taliban from accessing afghan funds stored in the country just as days after the groups take over the nation straight ahead. we break down the decision and we have received further insight into the future of monetary policy from the u. s. federal reserve, when will the paper begin? we have an expert on hand to discuss, then can talk of an investigation over a soft threading. cars will discuss why to us senators are telling the fcc that tesla is misleading customers and endangering the public. we have attack showed today for dive right in the
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we leave the program today with the latest on the state about ghana found central bank and the site for $9500000000.00 in reserve stored here in the us. the vitamin ministration says it has frozen those assets, which are mainly held by the new york federal reserve with government officials fleeing the country and the taliban. assuming control washington says it can't give the group access to the money because they are on the us. sanctions list while the white house says it has moved, you cut off funding for the afghan government that is no longer in power. lawmakers here in washington are now calling on the i. m. f. to cut off a plan, deposit of $460000000.00, which will be sent to the country on monday in the name of corona, virus relief funding. that people have a dentist that have survived 20 years of the u. s. military bombing and constant occupation. now they're transitioning into the side of war that is felt by
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countries like many waylon and iran were washington as at odds with their leadership and attempts to suffocate them financially. while hoping that other countries like china and russia don't get to quote. so joining us now to discuss is professor, well, 1st of economic update and author of the sickness is the system. now, professor, we have president biden saying he is done with this war. yet at the same time his administration is still trying to control the country's money. why is that? well, you know, it's a mystery to most of us in the world that are watching the fact that the united states was going to leave. afghanistan has been known officially for many months. and it was known unofficially and many capitals around the world for at least the last year and a half. they have prepared all kinds of programs and proposals for the new afghan government. they've been doing it for a long time. there is no vacuum here. this new government is going to cash in on
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all kinds of entities in china, russia, pockets on and many other places that want to do business with this new government and want to take advantage of the minerals and other resources there. so this appears to the whole world as a kind of sour grapes, gesture of an embarrassed government in the united states who thought that could get out easily smoothly and under the radar. and instead were pushed out in the unseemly way. we've just followed, but it isn't going to change the behavior of these people. they didn't fight a 20 year war to be dissuaded by a few $100000000.00. the latest estimate of the value of what exists under the soil in afghanistan is over one trillion dollars. and so this is purely theatrics. it's not a serious problem for the dollar bond. and professor, well,
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i mean, think of this broader situation. it's still secret. the sanctions have a devastating impact on the civilians in a nation. so in a case like this, when people where people are of afghanistan, i have come to rely on billions of dollars in for an aid from the united states. how are they likely to be impacted by the u. s. breathing all funds and trying to isolate the countries the leadership? well, i'm afraid it's going to do exactly what the 20 years of fruitless war did cement, the hostility, the bitterness, the anger, i mean, can you imagine what it must mean after a war like this to be told that the united states is in some way gone to withhold help to fight colvin. and let me assure you, the chinese, the indians, though russians and others,
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are stepping right up to assure this new government that they will not be left without support and help. this is a country here, the united states. i'm speaking of that is doing the things that may play to domestic politics, but in terms of the world they are shooting themselves right in the foot. yeah, and it is interesting to see how the u. s. has almost tried to get us to rely on the u. s. and it's help. and, you know, on one hand, we have biden's saying that china and russia would want nothing more than the then for the u. s. to keep feeling billions of dollars into a war they can't win. but on the other hand, the more hawkish members of his administration are already warning about. like you mentioned, china and russia having even more influence on the region and working with the country. so even with the u. s. appearing to back down. now, are we likely to see a change in policy anytime soon? i don't think so. i think the policies that are in place by the united states have
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been a failure now for years and they weren't changed. finally, mister biden understood, as mister trump did before him, that this was hopeless, and they should get out. they didn't prepare it very well, they didn't executed very well. they didn't do much of anything over there really very well. and that tells you more about the long term problems of the united states than it's going to tell you much about the others. the competition from the europeans, the japanese, the russians, the chinese. there are lots of people with all kinds of plans for the taliban government that are going to shape that economy for years to come. petulant behavior by the united states. embarrassed by what just happened isn't going to help anyone and professor will quickly before we go, there's a lot of speculation that china could move to actually include up ghana, stan, it's belton road initiative. if that the case is,
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is likely to increase tension between the u. s. and china and how much power does the united states have when it comes to this as they've already lost the publicly lost the battle for afghanis. and as you said, basically embarrassed themselves in that situation, i have no standing with that government while you know that government is going to have to live with the united states, we are still a very powerful player in the world. and those people know that sure the chinese are going to work their relationships. that's a neighboring country for them. they have to do that. but i already that you can be sure that behind the scenes of the p, r, even the american government, even mister biden, are making arrangements for businesses in this country to not be left out of the profits to be made in afghanistan when this war is over. so yeah, there will be a lot of noise in theater, but behind it all, it over this war,
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the people there defeated and throughout the united states. that's hard for us to face, but it's new business for everybody else. and eventually the united states will have little choice, but to line up and hope for its portion of what is going to develop there. and the only thing we can hope for is that the american people learn something from the last 20 years. professor richard, thank you so much for your time and insight. thank you. and the federal reserve is federal open market committee released minutes from july meeting as onlookers hope to see some insight into the future of monetary policy in the united states. you will remember the fed kept its policy in place with $120000000000.00 in monthly purchases of treasury bonds and mortgage backed securities, as well as interest rates near 0, while remaining optimistic about the state of the economic recovery. while the big take away from these minutes here is been that some central bank officials are
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looking to start tapering asset purchases relatively soon in light of the risk that the recent high inflation readings could prove to be more persistent than they had anticipated. so what do these latest minutes really mean for the future of the feds easy money policy to discuss, we're joined by former fed, insider and ceo of quill intelligence, danielle dean martino booth, always a pleasure to have you on here, because you're a real expert in the field, the latest f o m c meeting was held at the end of july and at that time there was a lot of talk about code cases drawing down with cases kind of trending upward. now, due to the delta vary, does that change the outlook significantly? you know, it's really difficult to say the next formal statement that we'll get out of the federal reserve is not until september, the 22nd and with the delta variance already starting to decrease, which is great news in some of the hottest spots, missouri and arkansas were started even louisiana, where we have that we have had the highest per capita rate of cases in the united
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states. we don't know what's going to what the environment going to be like come late september, but what we do know from today's minutes, and i think the reason that the market decided to interpret them in a negative light is that there is a lot of disagreement among members among federal reserve official more than i think we've seen it a generation. yeah, it really is interesting to see them now speaking out in this, be there now being more disagreement now when we look ahead to the fed jackson hole symposium this month. we have heard reports that we could be looking at the announcement of tapering, the fed bond buying program by september with all of that going away by mid 2022. now with the concerns of a falling economic recovery and the inflationary pressure, we continue to see can anyone really predict what the fed and chairman powell have planned? i think it's a very difficult game at this point. jackson old,
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literally right around the corner. if he was ever going to fall back on cody, it would be at jackson hole, as opposed to the september f m. c meeting that we've got coming up in september. i wouldn't expect too terribly much out of j now. but again, there is a lot of fed speak in between now and a week from now when we're all getting ready for jackson hole. but i think if j, powell has his way, he's going to resist signaling the taper coming or the tape or announcement coming at the end of september and left the pressure from within his own ranks becomes unsustainable to him. and that's very much a possibility, because people don't realize that the federal or district presidents have been dissenting for years and years. the last time there was a board member descent was in the early 2 thousands when greenspan was chair. and it's been a very long time since then, but he does have a governor who it sounds like christopher waller is ready to descend if he's pushed,
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given the white hot housing market. we've seen given data that came out just today that showed that new leases new apartment li, deriving at a 17 percent annual rate in the united states. back along with a slowing economy, start to flash the dangers of stag lieschen, which most people have to google. and the question here, did you have the fat inside or if you brought up an incredible point there, but for our viewers, what power does a dissenting voice within the fed have when it comes to trying to push that policy forward? well, it's not, again, i don't mean to be discounting the views and the work and the analysis done by federal reserve district president we're talking to, to now can to hear and have descend on the board of governors. that's supposed to be the chairs, closest advisors, and on top of this in the market knows this in january. we've got 3 very outspoken
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hawks rotating on to onto the f. m. c, including bullard and rosen grid. both of them are on the wires today saying it is and to get this taper going, if you could imagine a quadruple descent, when powell has had one of the most quiet, complacent fetters or terms in all crime, it should be. it's hard to imagine. but again, it is not an organization coming in as a former insider where you want to see a lot of disagreement where you want to see dirty laundry eric out into the open. yeah, certainly seems like one of those cases where timing is everything and obviously they want everyone on the same page. now i want to bring up a comment that was made by powell prior to the apple m. c minutes being released this week. he spoke during a virtual town hall for educators and students saying we're not going back to the economy that we had before the pandemic. now he mentioned the increase in telework restaurants offering more take out and real estate agents learning to show homes of
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virtually in your opinion, what is the lasting impact? i mean, is this going to be a major change as we have seen, industries evolved throughout the history of the country? well, i think they're good. there's good and there's bad that can come of the acceleration of technological adoption in a post coven world. you don't certainly have to get in your current drive to go see a doctor. telemedicine is something that has been greatly expedited that's over a benefit. by the same token, you have seen a disproportionate investment on the part of especially large businesses in america . in technology spending, as opposed to spending on a witness, which would grow the company directly to a longer term basis. when you see the spikes that we've seen in technological investment. that's another way of saying the corporate america is expediting the expedited, the push towards automation. and jay towel is likely speaking to the fact that there's going to be we may need a longer timeline to see full,
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full reduction in the employment of population, excuse me, a full recovery in the implement population ratio. the labor force participation rate, especially in light of several 1000000 extra retirees who dropped out of the workforce because of the pan demik. so there are a lot of moving pieces here. but again, the, the outlook for workers in america is not as robust as what, what is advertised in their be 10000000 job openings. a lot of these job openings are going to be fulfilled and filled with automation and technology. and i have 32nd plot, but i want to wrap a bow on all of this because as we talk about that particular angle and how it affects employment, how does that affect the feds policy moving forward? does it it would likely if j po, had his druthers, it would likely have been fed move more slowly than they would otherwise. but again, you have to go back and look at today's minute. there is obviously a huge divide among participants. and that is also going to factor into when policy
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makes that big shift that market clearly by their, by their negative negativity, today are anticipating danielle dean martino booth for effect, insider and ceo of intelligence. thank you so much. thank you. time now for a quick break, but when we come back tackling back in the hot yet again as us vendors have that their process on the firm's auto pilot claim. on the other side, we'll catch you up on the lead. it is a good break. here are the number that the quote, the ah ah ah,
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i use the follow up on something we've been talking about for a while and that is the lack of leadership, but never ending money printing the an unexpected side of the pandemic, kenya is experiencing an elephant baby boom, $200.00. why does kenya have so many cars? and how has the panoramic impacted people's lives?
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is andree role is a very big along in any fact he end up killing himself. ah, i don't live on a leon and you got one buyer. well, and i will make, before me, was what i did in addition media group, if they get the idea, can you say lucky to me? mean it will because at that of the one, anybody who did the they didn't even notice whether they call to do it, but i know the company just didn't go or whatever it is. now we have a cigarette. so i just heard that it was a healthy alternative to figure out how do we trust tobacco companies with their
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message that these new products are actually going to reduce are these are making the tobacco at the tours. the welcome back to us centers are pushing for a federal trade commission investigation into tesla over the companies use of the term auto pilot and self driving, claiming that the company may have used deceptive marketing practices involving driver assistance features in that letter to the f t. c, the sender's richard blumenthal of connecticut and ed markey of massachusetts, said they have serious concerns about how tesla advertising is advanced driver assistant features, which don't really enable vehicles to operate autonomously joining us now, to break this down, or boom, by the co host, spend swan and christy i, ben,
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i want to start with you. what specifically are the sender's asking the s t c to investigate? yeah, hey guys. so essentially what they're asking the f t c to look at our claims. they say that have been made by tesla and by law must himself, especially in tweets that seem to indicate that of course these vehicles are completely autonomy. they are in fact fully self drive vehicles, which they're not right. we all know that they're not, but apparently there would be senators payments and not everyone knows that. and that, according to the national highway traffic safety administration, there have been at least 11 crashes and 2018 which involved those tests with vehicles that were supposed to be driving. you know, self driving that crashed into emergency vehicles that were responding to some kind of emergency. 11 times it's happened and they say because of that there needs to be accountability because tesla and musk specifically are making claims about these vehicles that are not true. that i guess is ultimately what has to be decided by the f t c, where they're not tesla and must are misrepresenting the actual functionality of
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these vehicles. now, christy, why did these senators say that tesla is misrepresenting their technology? i mean, it's not a surprise even math is the king of overstating and over, exaggerating, so don't really know if it's a ploy to continuously get investors by playing the fake it until you make it. but we've seen how this can be a very dangerous game when things go badly, like what happened with home that the ron of. but so far though, the public has been on most side by his over promising and under delivering, because he does have showmanship, must 1st began talking about making its auto pilot fully autonomy back in 2015, saying that it would be ready and 2 years since then. he has repeatedly had to push back that timeline. and now how these statements from his own engineering team, the director, actually a peasant auto pilot software, himself saying that eland tweet does not match engineering reality is that level 2 currently, which refers to semi autonomous driving assistance software that requires human supervision. so must had told him that just back in january,
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the fear that he is highly confident in the car that the car will be able drive itself this here. and also tweeted staying that the latest full self driving beta can drive around with no intervention. so on engineers are contradicting this message and this can get very dangerous because as a personality must comments about pushing technology and boasting that engaging auto pilot is actually safer than not engaging it. it likely encourages is most loyal followers to actually test auto pilots limits and share their experiences online, which can turn into a bad game of chicken, of who can be the worst driver and not crash. so you have videos of people engaging auto pilot and then put on a full face and make up in the driver's seat, eating a steak, dinner falling asleep, playing games, answering emailed on their phone or knitting. so as for now, the senators, mon tesla to reinforce drivers to monitor the road, making sure that they're not fully neglecting driving. and this was the idea that month was actually very dismissive of saying back in 2019, that quote, human intervention could make such system less safe. wow,
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it all comes back to you on most of the end of the day. now then these claims are important because tesla selling an upgraded suite of features for $10000.00 that it calls for golf driving. but none of these features are actually full, full driving, correct? yeah, there is no full self driving anything within, within testing framework. and that's essentially, again, what the centers are saying is that eli was going to, i think christie pointed out really well here. the fact that you must, does this, this is what he does. he over sells virtually everything. whether it's, it's bitcoin, or dose, coin, or tesla, or his home automated system. everything he does is oversold. it's how he functions. but again, listen, when you are company you can just over. so everything and you certainly can't over sell a self driving vehicle. that's not self driving, that's the problem here. and so we get, listen, you pay an extra $10000.00 so that you can have a fully automated vehicle. that's not fully automated. but my other issue was that,
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you know, christy, talking about the people who are testing that there has to be some consumer responsibility. i think in this what kind of idiot, it's a steak dinner while driving or, or goes to even if you want to test it, even if you think this is a great idea, you're really going to go to sleep while your car is driving on a highway it makes no sense at all people to do this. so, you know, you almost may be responsible for overstating some things. you moronic behavior by people who want to test. it also has to have some responsibility. you know the rule been anything for the graham, my friend, christie, i have about 45 seconds left, but it has its own situation impacted tesla stock and could it harm tesla's growth as the world's most valuable car company? a little that, i mean the shares fell roughly 7 percent the 1st 2 days trading after the n h t s se disclose the investigation. but today it's actually popping right back up to percent. so why the news does put a damper and has some bad press on tell, so it has become available tech company. and like most tech companies, the date,
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it's trading at an absurd premium and for future growth, tesla kind of how to deliver on as auto pilot, their stuff now, because they basically over promised all this, they're still the leaders in the space right now and the future hinges upon it and the only reason they're in the position there and now it because their software, it's more advanced than others and their battery, which is currently better than the competition boom bus. it's christy i and ben swan, thank you so much. and finally, from south driving cars to the future of robot, boston dynamics released some fascinating, also completely terrifying footage of its atlas robot, navigating an obstacle course. as you can see here, par core is no problem for the human like robot. the sand 5 feet tall and weigh $190.00 pounds. their skills include jumping between platforms, running across balance, themes and even making hans fans and back forth would easy. but these aren't just program movements. the robots you see here are actually adapting to their
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surrounding boston dynamics. claims as part of their plan to test the limits and see just what their robots are capable of. well, rachel, it was a good run, was it high from, from one to find thing to another is just, you know, i've all for technological advancement and i think the people who tend to get worried about what this might mean. but i have seen enough fired 5 films to know this doesn't look particularly gray, and i'm going to paraphrase a phase dr. malcolm from movie drastic part. when he said the scientists were too concerned about whether they could and not so much concerned about whether they should, oh, absolutely remember their damping, their environment there. that's it for this time you can catch boom bus on demand on portable tv available on smartphones and tablets. google play in the apple app store by searching portable tv. portable tv can also be downloaded on samsung, smart tv and roku devices,
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or simply check it out portable dot tv will see you next to me . ah, the, the me a lot of the good mr. moseley, with what we need to do
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the good to google. i want you to do i see the going to show you so you didn't know where to put it in the is the the best. what you will cover your 1st bill. i don't know if i use, i'm in new york. i wish to follow you so much. not although a lot, nobody me on the spectrum and you say you got a bill in front of me personally, hon, which ah
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ah, in i me ah, ah,
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ah, coppell airport see is more kale. so the u. s. military uses tear gas. it is both crowds of people desperate to flee the country a thousands to remain strong enough on governments around the world are facing criticism for the slow response to the crisis. we hear from one german national, who's breaking for rescue for both him and his afghan fields. we have let us finally leave this caliphate, give me and my fiance permission to enter germany. 10 south of afghan soldiers are reported a rallying in the east of the country under the leadership of the vice president who insists he's now. but countries legitimate had take a leader.

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