Skip to main content

tv   Boom Bust  RT  August 28, 2021 5:30am-6:01am EDT

5:30 am
i got inoculated with this vaccine in july. my husband didn't develop any side effects whatsoever, whereas i had mine at all for a couple of days, but then it will cost on its own. in some cases that can be a minor rise in the body temperature. though none of my colleagues who've been vaccinated with it developed a fever. you know, once again, a slight fever is possible. what it will pass on its own within a couple of days. south, goodbye for all of us. hey, and moscow bank 1st stopping by and we'll see thing the look forward to talking to you all that technology should work for people. a robot must obey the orders given it by human beings, except when the shorter the conflict with the 1st law show your identification. we should be very careful about artificial intelligence. the point obviously is to
5:31 am
great truck rather than fear to take on various jobs with the artificial intelligence real summoning the demon a robot must protect its own existence with this is been by someone business, so you can't afford to miss. i'm rachel bluff. i'm friendship, boring. washington coming up. john is regulatory crackdown continues to expand at the nation plan, the ban on certain firm watching us. i p. o. sure it had we dive into the latest efforts was markets are winding down for the weekend. we bring you a look at the date of economies around the globe as the u. s. federal reserve insight into future policy plans. then we take you to the u. k. we're the nation's ongoing recovery. is being threatened by
5:32 am
a massive labor shortage. we'll discuss. we have a lot to get to you today, so let's get started. the the really the program with the latest on china's efforts to crap down on big tech and specifically on the company's listing in the us. asian has repeatedly cited security concerns, especially for the companies like the ride share app dbi, which hold the data of hundreds of millions of users. reports are now saying that as early as next month, the chinese government will propose new rules that would ban companies with large amounts of sensitive consumer data from going public in the us. however, companies with less sensitive data such as those in the pharmaceutical industry, are still likely to receive chinese regulatory approval for foreign less things. so
5:33 am
how is this likely to impact market worldwide? and what will mean for tensions between china and the u. s. joining us now to discuss the latest co host, christy i. now christy the latest report state that aging is targeting those with a certain level of sensitive data. why is this the focus right now? while it's actually been the focus for many years now, the plan has been fermenting for years, but now it's rapidly gaining momentum, giving the growing schism between the us and china and accusations from both sides of security breaches. so the plan is designed to protect chinese interest and to help support the chinese economy in the coming decade. and this include pilot projects for the state supervise data trading markets. so the idea of this splinter net where you have a western internet and the eastern internet has existed for a while, but the trade war last year and deepening mistrust has now fuel the wave. data is becoming a critical battle ground between china and the us. and both sides fear the other
5:34 am
that unchecked collection by private firms could allow state actors to weaponized information on infrastructure and other national interests. and then of course, the other reason why china tiny grip on sensitive data is to potentially help buoy slowing economic growth. this information could range from just about anything from health records and court documents to maps and shopping history. and this could then be categorized standardized and valued, making a commodity to be traded. and this is something that china has been working on for quite a while now that social media has collected so much data. so how do we really tap into the value that flows from data from an economic standpoint? and christy, what kind of message is this sending to other nations like the united states, given that they are really affecting the future of for lifting, sending the message to other countries that the u. s. isn't the only big capital market out there and that there are risks to listing in the us. the u. s. used to be the de facto market to i p o on given its global reach and investor
5:35 am
participation, they're kind of sending the message that there are other places to raise capital, not just the u. s. and it's capital markets are no longer what they used to be. and also, while there's a certain paranoid aspect to it by citing these security concerns over listing in the us, it's also pointing out to other countries that hey, if you list your tech, darlene, here in the us, they might look under hood and demand that you release all the sense of data you collect on us citizens over to them and this term sensitive. it's just completely arbitrary. they can say anything is sensitive and or to lay claim on it. the us capital market was the gold standard because it once represented a free market. and now it doesn't seem to be the case anymore because what happened to china could very well happen to any other country that gets on the u. s. is bad side. the u. s. threatened to de la chinese companies forcing institutional to divest interests and chinese companies. and let's not forget tick tock. the u. s. tried to force it to sell itself over to an american company,
5:36 am
which essentially is legal theft, a chinese i. p. and now it looks like the future battle ground of tech will lie within user data, which is a valuable commodity and something which foreign companies will not want to turn over to the u. s. yeah, it really is interesting to see how china is responding to the policies we've seen from the u. s. over the last few years. now another story that came up this week was the fact that the chinese government is also moving to regulate the algorithms used by tech companies like fight, dance, and tens, that whole thing. now of course, china is known, having strict controls that band, the majority of social media sites we use here in the u. s. so what kind of an impact is this restriction on individual algorithms expected to have? well, i think it's a huge, over step by the government to try to regulate the algorithms of private company. essentially what they're saying is, hey, you're doing too good of a job. what you're built to do. we need you to tone it down a bit and be less powerful and thus less profitable. the cac released
5:37 am
a 30 point draft proposal friday and it's eliciting public feedback until september 26. and these new rules will regulate algorithm empowered recommendation activities on the internet, including content aggregation, personalized recommendation and search ranking. and this is quite disturbing because it means that content that you can see can further be regulated online and controversial topics and chat thread will be buried even though it's clearly trending. so this is the latest effort to influence online public opinion amid efforts to regulate the platform, economy, and information distribution. but on the other hand, there is some good in these proposed rules to though ad agencies and platforms service providers. they've using algorithms for bundling sales or learning consumers. and they even buy and sell information to 3rd parties without user permission. so in certain instances, these rules are going to be a good thing for consumer data, privacy and protection. so the use of these algorithms help the platform operators, but then the merchants and the users, they're often squeezed. so there isn't
5:38 am
a distribution of profits in the end. so in this respect, there is some good, it will help to regulate the box and the ad agencies that post fake reviews, fake likes to upload certain products and manipulating online rankings. but overall it's going to be very tough space to regulate because the question is, who controls the algorithm and who the algorithm serve it, chris? i have about 20 seconds left for this question. but when you talk about that, are we really only looking at kind of been to the various algorithms or are we looking at something like tick tock, which was, was one of the big portions when they talked about a possible sale, was that their algorithm was so good, they didn't want to let that go. exactly. and you see this with tense then as well because tense and actually how to regulate, how, how good their gaming platform was. so then they had to regulate how much time chinese kids actually spend online playing their video games. so this is another, this is another aspect of china trying to control the content that people see. and
5:39 am
the time that they spend online to try to influence what the chinese culture value most, they can spend all their time on gaming and shopping and consumer to them. they have to spend time on other things. so they are trying to monitor how much time citizens allocate to what aspect. so it is quite disturbing, actually. wow, it'll certainly be interesting to see not only what those policies are, but what the government is actually able to control in this new age boom bus. kristi, i thank you so much for your time and insight. thank you. the global markets are mostly up for the week, rebounding from last week's losses, as investors kept an eye on federal reserve chair drone powers remarks following the jackson hole symposium and continuing concerns over the cobra. 1900 delta. very, let's start in russia with a green arrow for the mo, x as the index gain, more than half a percent for the week. rising oil prices to close out the week help the mo,
5:40 am
x and the ruble. a new pull of market analysts by reuters suggest the marks will climb to record highs this year, eclipse thing, 4000, and continue to see gains moving into 2022. moving to asian markets, the shanghai composite is up nearly 2.5 percent despite the regulatory pressure we have heard so much about in recent months. the composite had been on a 3 day winning streak. but last, more than one percent on thursday as a slow down in the property market took a hit raising concerns about future economic growth, pushing the banking sector down in hong kong. the hunk sag is also a following similar trends as the composite filling more pain from the tech crackdown banks and tech index lost more than 2 percent on thursday alone. shares of ali baba and my twan, they each fell about one percent. while apple supplier, ac tech bell, more than 11 percent after reporting earnings, the index was able to level off on friday to close out the week ending up just shy of one percent. we have another green arrow in japan for the knee k up more than
5:41 am
1.5 percent for the week. the majority of the gains came monday and tuesday. conglomerate, soft bank was up to point 4 percent for the week, while chip makers are also driving amid the global semiconductor shortage. moving to india, the syntax is up just over one percent for the week. the indian stock market hit new record highs this week on the back of the technology and metal sector. now that's despite persistent, worried about rising inflation, governor from the reserve bank of india that the central bank is not looking to raise interest rates from a record low in the short term, adding they will not make moves without warning. in australia, the assets, it's in the green, but by less than half a percent new data, really it's friday shows. retail sales in july felt significantly a city face to cobra, 1900 related lockdown while the commonwealth bank of australia also down were the revised 3rd quarter. g. p. predictions to a contraction of 4.25 percent in south africa. they all share is also up for the
5:42 am
week. most of the games came early up about one and a quarter percent. on monday alone, sentiment continued to swing up as the economy was nearly 11 percent or $37000000000.00 bigger in 2020 than original projections, according to data from statistics, south africa and again, the nation treasury said economic damage from riots in july could cost between point 7 and point 9 percent in economic growth for 2021. now let's check in with rachel for europe in the american. thanks, brent. here we start in the u. k. where the 50 is up. the energy mining and health care sectors, fuel gains for the index this week with b, p. oil and gas up nearly 3.5 percent and anglo american mining up nearly 7 percent for the week. this as a growing labor shortage threatens the countries recovery will take a more in depth look at that coming up and nearby the german dax and french kac are both in the read. the same labor shortages are hitting europe, as germany says, it needs more than $400000.00 additional foreign workers to fill its labor market.
5:43 am
and while france has faced weeks of protest over the requirement of a health path for indoor activities report show, consumer confidence only took a slight hit this month. and the continued increase in spending caused the countries finance minister to describe the french economy as doing well across the atlantic. now to brazil, where the eve of us, but is up this despite the news that the countries consumer price index is that point 89 percent, and mid august marking it's sharpest increase since 2002, fueled by electricity, food and gas prices. the latest reading also comes weeks after brazil move to raise interest rates once again and over in mexico, b and b as down the countries oil output took a hit following a massive fire on an offshore platform. the left 5 people debt. the impact on 40 percent of mexico supply sun oil prices on a 4 day rally. meanwhile, the latest data shows,
5:44 am
gains and services. agriculture and manufacturing have helped mexico's g. d. p growth, 1.5 percent in the last 3 months. here in the us down the nasdaq and the s m p are all in the green this week with all eyes on fridays address from the federal reserve investors side with relief. as chairman powell signals, he isn't planning to pull back on the fed, easy monetary policy just yet at the f. m. c's recent july meeting. i was of the view as were most participants, that if the economy evolved broadly as the anticipated, it could be appropriate to start reducing the pace of asset purchases this year. the intervening months has brought more progress in the form of a strong employer report for july. but also the further spread of the delta variance. we will be carefully assessing incoming data and the evolving risks. and finally in canada, csx is up to end the week after nearly having another all time high on tuesday. the
5:45 am
next aw, gains fueled by energy stocks hitting 2 week highs. as oil prices rallied. now, canada is now less than one month away from an early federal action called for by prime minister justin trudeau, which will determine the future of the countries parliament. and moving next week, we will continue to keep an eye on the state of supply shortages around the world and how they are impacting the global recovery. and the united states supreme court issued a ruling late on thursday that struck down into victor more atoria from the cdc in a 6 to 3 ruling. now this comes as the new figures show that nearly 90 percent of rental assistance funds have not yet been given out. trinity chavez, on the ground in new york and brings us the details on the state of renters. of the white house prepared for us supreme court order that could invalidate the new federal eviction moratorium, newly released data show state and local governments across the us have only
5:46 am
distributed 11 percent of the funds congress allocated to help pay off debts accrued by renters during the coven, 1900 pandemic. i got sick in and that a being backed up by my rent, because i was in the hospital for a while. and also i got back up during the winter time because of the panoramic and corona virus and being backed up on my rent. and my landlord doesn't want to hear it. so he got me in july, more than 340000 households received nearly $1700000000.00 in rental and utility assistance. that's about a 15 percent increase compared to june. and more than double the number of households served in july that money bringing the total amount of funds released to approximately $5100000000.00 or 11 percent of the $46500000000.00 rental aid program. new york congressman representative monday or jones taking a twitter saying this is unacceptable. we thought to extend the eviction moratorium to give states a chance to distribute these funds. but time is of the essence. states like new
5:47 am
york must immediately get these funds to renters. with the urgency this crisis demands, feel loss. i feel helpless, clear the white house so has defended it. slow pace saying over a 1000000 payments have been sent to families, gene sperling, who oversees the operation of federal pandemic relief programs for president biden, told the new york times about a 1000000 payments have now gone out to families. it is starting to help a meaningful number of families. it's just not close to enough and an emergency like this to protect all the families who need and deserve to be protected. so there is still way more to do and to do fast out some say the white house in cdc have likely legally overstepped their bound. and this latest extension you're asking me is a private sector. landlords to provide public or free housing? because it's not my role, my role is to supply house and get paid for it. and if you're preventing me from a victim, someone for not paying their rent. so you're asking me to be subsidized housing now, some landlords have rejected federal aid arguing that evicting nonpaying tenants is
5:48 am
not only there, right, but the most effective way of ensuring their revenue is not interrupted in the future. reporting for boom bust trinity job s r t. i'm now for a quick break when we come back. united kingdom continues to bear the brunt of a labor shortage as the nation supply chain remain shattered. straight ahead will bring you analysis from someone from louis with the industry. and as we go to break here, the numbers are to close the ah ah, ah,
5:49 am
the whole rather driven by shapes bankers than those in the me. there's a thing we dare to ask in a military mission against a we'll conclude on august 31st. i went to santa,
5:50 am
who did a good to us all the quote unquote a young girl. and i really need proof for my you got to be southern company southern you cut the cut over what was the quote to show me this was a right weapon against the right and the local. no go. no, but i keep from but it was filled out through z o o z the, the signing of the us tell about agreement and laid the groundwork for the road ahead toward a lasting peace in afghanistan. and i know we still need that done by and does i have
5:51 am
the air. welcome back. the economic recovery in the united kingdom could be flowing as the nation of faith, the labor shortage and supply chain disruptions due to the cobra. 1900 pandemic and fall out from breakfast. back in july. job openings in britain cross the 1000000 mark for the 1st time since records have been kept despite many workers coming off of furlough and unemployment numbers continuing to fall. there have recently been supply shortages throughout the food industry, including restaurants, and supermarkets with industry groups, blaming, breaks it as you nationals working in truck driving, farming, and food processing left the nation. meanwhile, a recent quarterly surveyed by the confederation of british industry shows optimism and consumer facing business fell to minus 17 percent for august, down from a positive 47 percent in may, the worst reading for the height of the pandemic. so what does all of this mean for
5:52 am
the future of the u. k. economy, while the discuss, let's bring it forward. his board member of the british american business association and president of straw mark business development consultants. i was a pleasure to have you on hillary federal grant. now we've heard a lot about labor shortages here in the united states, but it seems there is a similar situation, the u. k. but with different factors, what's behind it, and just how bad is best for you, right? but there are neighbor issues in the u. k as they're all in the u. s. and of course, many countries, i think the 1st factor is really the same as the us. i mean, the follow program that was wonderful during pandemic hits is prevented a lot of people from going back to work. and that program hasn't completely ended and the u. k. government is still helping knows that we're self employed as well. so you got the follow issue. you also have the exodus of the you work as before, the pandemic. they want to go back to their countries, particularly eastern europe and with the travel restrictions they weren't allowed to come back into the u. k. then you have the laurie drive issue. i mean this wish
5:53 am
she was gone for 25 years. mark selden is the financial a, be a media advisor to the you president the u. n. and he said this has gone on for 25 years and it has, i can remember this from when i emigrated to the u. s. it's low wages, it's not a job, but very pleasant, and it's always been there in the u. k. so the lori drive issues never going away. the 3rd is that the 4th issue is that of, if you look at it, you're going to see that immigration normally has occurred into the u. k. that labor shortage is exacerbated because of the travel restrictions. people can come in to the u. k. in the way they used to to work. and last but not least, the ping demick has been a major factor because people had to self isolate. so they're out of the labor for labor. 4th, a lot of them have had to stay home and that has contributed for those 5 factors. brand have exacerbated it, kind of like a conundrum of the hotel in the u. k. right, and i know that there's a lot of moving parts there. now at the same time, we're all looking forward, not just for the few months, but especially to the holidays. we've got supermarkets and producers warning that
5:54 am
the supply shortages could last to the holidays and could even really hurt christmas is their concern there about how the, how long the shortages will last. well actually you're picking right up on the story that's to do with when i mentioned the you workers, a lot of them officers that they worked in the meat packing, meat industry and a lot of the pigs. of course this has been effected because they haven't been being able to slaughter them the same way they used to. and as this prediction of a sausage shortage will in the u. k. i, we are in england, a lot of people celebrate christmas and his roles are a big thing at christmas. so it's called like the sausage, christmas issue. what i think a lot of the media is made a big issue, but i would say in all seriousness the semiconductor issue in this, the shortage across the world is the same worldwide. this is affected all the supply chain across the us, of the u. s. and the world and also that was exacerbated by the suez canal blockage . so the prediction i would, i would say is i would look to i n g, the bank because there james smith, the chief economist there has said he looks to basically the beginning of 2022.
5:55 am
that thing should eat. so maybe that be some sort of is up to through the holiday season in the u. k. but by early 2022 things should be more back to normal. busy particularly in the supply chain, and that will be the same globally. and it feels like that's something we hear regularly is that these things will kind of work themselves out relatively soon. but the question is, will they really? and i have about 30 thanks for the last one, but data from the bank of england shows that debit or credit card spending has fallen to just 94 percent of pre pandemic levels in recent weeks following freedom day. what do we know about spending in the u. k right now? well, actually, the euro of course, ended in july 11. and up until that there was a massive build up a lot of spending. and i think that decline actually was freedom day, was the 19th of july, and people have gone on vacation. you know, people are not doing what they normally do. they're not spending the same kind of money at home and not celebrating because the euro's was a big bump. and i think a lot of that decline is somewhat people are a little bit sick of this. and i think it's
5:56 am
a delta variant to the ping demik really put a damper, i think on the spirits of the u. k. people want going out to shop. and there were a lot of people will actually, i mean, what i heard a lot of businesses people would be ready to buy, but they were ending up. so by selling, because about taylor is waiting for me to say something about the euros in england losing. but i'm not going to do it hillary for the british american out of the asia . thank you so much pleasure. and finally, from one shortage to another liquid oxygen is in short, supply causing space ex drawer in their upcoming launch plans could be impacted as a result. the liquid oxygen is an important component, not just in the rocket sewing into outer space, but also in the ventilators used by hospitals treating critical coban. 1900 patients, arise in cases prompted the city of orlando to call on residence to limit their water use. due to an increase need for liquid oxygen and local hospital, the resident and c o of space ex,
5:57 am
future launches will be impacted. but the company is keeping hospitals in mind. she added, quote, anybody that has liquid oxygen to spare would you send me an email? as for now, space acts is still set to launch. it's falcon 9 rocket from the kennedy space center in florida before dawn on saturday. as part of a resupply mission to the international space station. and, you know, rachel, it seems like obviously the flight to the international space station is necessary . when you have to resupply your people kind of do for lack of a better term, out on an island in the middle of the space. but say, hey, does anybody have any liquid oxer despair when it's clearly needed into the health care industry? to deal with the influx and patient dealing with cobra, 1900, maybe that might have been a little bit off base. and you know, i'm a pretty pro space exploration by the billionaires. but you don't like to see this when they're saying, hey, this needed supply, we need that to fly to space. adam layer reality check there. and that's it for this time you can check, boom bus on demand. affordable tv app available on smartphones, tablets you google play,
5:58 am
and the apple app store by searching portable tv. portable tv can also be downloaded on samsung, smart tv, and roku devices, or simply check it out portable dot tv. we'll see you next time with me. when i would show the wrong one, all right, i just don't need you to fill out the theme because the after care and engagement equals the trail. when so many find themselves, well, the part we choose to look for common ground the
5:59 am
still large enough to satisfy the ambitions of jeff, based on, you know, it's got its tentacles in so many aspects of the economy. there's nothing that amazon isn't trying to get into to step by step. the amazon empire has extended its grip on the world that was like end up being quite like a dog. so amazon looks like monopoly trays like a monopoly makes money like monopoly behaves like monopoly. amazon essentially controlled the marketplace. it's not really a market, it's a private arena world where a single company controls the distribution of daily products. and the infrastructure of our economy is reduce the workload according to amazon, rather driven by shape person. those in
6:00 am
me who dares thing we dare to ask me. ah ah, the us lashes, i'll tell. i says, hey, how's the drone strike killed the terror upon or enough chemist on in the us reprisals because they've cobble bombing in which i thought americans were among the $170.00 killed the shots, all fired and cargo to.


info Stream Only

Uploaded by TV Archive on