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tv   Boom Bust  RT  January 22, 2022 1:30pm-2:01pm EST

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we've got a storm. yeah. there's already beginning to be evidence that these old techniques are now being used on immigrant children. whatever you do or more comes from home. nobody has been held accountable for the torture that happened in the past. and the moral authority, the made america will sacrifice the shimmer of effective interrogation. with with this boom, bought the one bed, the show you care, the boredom it san branch
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a board and i make one. and then washington, coming up with market taking a meeting this week, where our investors turning for head straight ahead. we'll take a look at the performance of global stocks and the toll of inflation plus the better reserve is making moves to expand its presence in the digital currency space later on. and we'll dig into the central banks efforts and how it could impact major crypto currencies. and could the gaming secor soon be dominated by crypto currency? we discussed the future of the industry and how pay to earn a games could cement themselves in the community. got it back to that, was that right? it really the program with the state of global markets as equities continue to trend down as investors prepare for moves from the u. s. federal reserve. we see the amazon variant continuing and in place remains in focus. we start russia. mo x is down by
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just over 5 percent for the week. it's play russians main export in oil, hitting 70 or high. the index fell to its lowest level since february of 2021. as geo political tensions over ukraine continue. the possibility of economic sanctions from the west are weighing on market something else to keep an eye on. here is russia reporting a new record number of cobra cases on friday the i'm a cranberry is rapidly spreading. moving to asian markets, the shanghai composite is flat for the week, but most the week, a positive territory before falling nearly one percent on friday. this week, basing made moves to lower its key mortgage blending benchmark in an effort to support flowing economy. bring one year loan prime rate up. 1 10 basis points and it's 5 year rate up 5 basis points with more increases expected over the months to come in hong kong, we have a green arrow for the hung up just shy of 2 and a half percent that move to cut lending rates, push the hung up nearly 3 percent on thursday on that news. the property index search for point 5 percent with big players in the sector,
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jumping as much as 10 percent. the hung song tech index also saw significant gain thursday of 4 and a half percent for its own right. moving to japan, the new k is down by nearly 3 percent for the week. rising oil prices weighed on the need a mid week with investors, anticipating data regarding inflation, which came in on friday. japan's cor consumer prices rose by point 5 percent in december compared to the year prior. that's the fastest pace in 2 years in japan. those rising fuel prices and the cost of materials are taking a toll on prices in japan. moving to india. we have. 6 a red arrow for the centex down more than 3 and a half percent. the centex bell for 4 consecutive days to close out the week after being dragged by the metals, pharmaceuticals, and sectors. looking ahead, however, india's ratings and research on thursday they said the country's economy is expected to grow by 7.6 percent in fiscal 2023. in our the as x $200.00 is down by
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nearly 3 percent losing more than 2 percent on friday. a load, this was the worst week for the assets in 15 months. the market seems to be keeping an eye on the future. moves from the u. s. federal reserve mining and gold related stacks. they also took a hit for the week. unemployment in the nation did drop to 4.2 percent in november, that the lowest rate in 13 years. and it's another red arrow for the all share in south africa. the south africa ran strength against the dollars as investors look for insight into what the south african reserve bank might do with interest rates as it holds. busy its 1st meeting of the year next week, economist pulled by reuters are predicting a $25.00 basis point increase to 4 percent with 4 total hike anticipated this year . now let's go over to rachel with europe and the americans think it's more the same here as we start. 2 in the u. k, where the fuzzy is down, inflation reached 30 your highs in december, heading 5.4 percent, while the bank of england is expected to raise interest rates again next month.
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there's all comes as a nation is to raise as cap on domestic energy prices by up to 50 percent in april . we'll also implementing a new payroll tax on national insurance contributions. as a result, consumer confidence has dropped from negative 15 down to negative 19 nearby. it continues to face a similar battle with inflation. as the german dax fell over 3 percent and the french capital over 2 percent this week, and those soaring prices aren't going anywhere anytime soon. according to the latest orders poll, which became the 7 consecutive survey to increase predictions for inflation in 2022 . but the european central bank says that won't be the case and it has continued to stand firm on keeping interest rates near 0. now across the atlantic to brazil where the above us, but is our only green arrow on this side, the nation has implemented one of the world's most aggressive approaches to raising interest rates with a total increase of 700 in 25 basis points since march. but inflation continues to
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remain in the double digits, and forecasts for rising costs continue to increase as well for both this year and next year. now over to mexico, where the b and b is down, the country saw it's economy decreased by point 2 percent in december, sparking concerns that a recession is here. now the bank of america also decreases growth forecasts from mexico and 2022 from 2.5 percent down to 1.5 percent. meanwhile, inflation hit a 20 here high at the end of last year. and here in the us, it has been a rough week for the stock market to say the least with the dow falling over 3 and a half percent. the s n p falling nearly 4 percent. and the check having nasdaq falling over 4 and a half percent, while all eyes remain on the federal reserve and is plans to increase interest rates this week. so last saw amazon down 8 percent for one of its worst weeks and 6 months netflix was down nearly 21 percent on friday alone. and pelettano actually
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made up the majority of its losses on friday after it was down nearly 14 percent on thursday. and finally, over in canada, the t s x is also in the read this week, inflation hit 4.8 percent marking a 30 year high with the cost of food rising at its fastest rate in 13 years as the cost of home ownership rows at its passage rate in 14 years now all eyes are on the bank of canada. c with questions surrounding whether it will raise rates in order to try to get a little bit closer to that 2 percent target. now moving into next week, we will keep an eye on the state of supply chain shortages and how they are impacting soren prices all around. being a battling sky high inflation, treasury secretary janet yellen, is now joining president joe biden and putting her support behind the federal reserve to solve the ongoing crisis in a recent interview. yell and describe the pandemic as presenting co konami
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challenges that none of us anticipated. while admitting that inflation rose by more than she had expected, however, she says it is the pres responsibility to address it. and she believe that will do just that. well, inflation remains near 40 or higher here in the us, the question becomes water. americans turning to as they're chosen that against it . well goal just hit a 2 month high, but it's not the only option on the block right now. and even with bitcoin, seen losses this week, it gains over the last year, have really put it in the league of its own. so where do we go from here and are the stock market losses? we've seen this week an indicator of what's to come with. joining us out of this got to better known as your rich b, f, f on tick tock and instagram. vivian is great. have you on the show today. now i know. a as we look back over the last year, the stock market has been riding high breaking records. but now that the federal reserve is in the process of taking steps to pull back on those pandemic policies. and the name of targeting inflation is their concern among investors who have
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really been living on those highs and is a crash of some sort and never roll at this point. definitely, i don't think it's so much as if it's more of a when, but i don't personally think that long term investors have too much to worry about realistically. if you are a young person, you'll live through 3 to 4 other downturns or crashes before you get to retirement age. so if you're investing for the longer term versus just short term speculation, you should actually use any period of market downturn as an opportunity to potentially invest in dollar cost average more dollars into the stock market at a lower price. you can think of it like a holiday sale. absolutely, and that's something we kind of saw in 2008 is when, when the market crash, it's like who does it really affect? well, of course it affects those who are retiring, who are relying on say their 41 k. but you know, for the rest of us who might be a little bit younger, at least at that stage, we don't have to worry about as much because there are going to be the cycle that we've seen over and over again. now, it's obviously been
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a year since the mean stock craze of 2021. when investors on red it, they came together and ended up costing hedge funds, billions of dollars. even though the buzz surrounding say site there, guy, stocks like game. stop it again and see have died down. are we seeing more people actually getting interested and investing in the stock market, especially with apps like robin hood making it so easy a 100 percent. while i'm not particularly in favor of retail investors 1st foray into the stock market, being a mean stock situation. it did open up the door to investing for a lot more people. it got them interested and excited to learn about investing. so that is undeniably a positive takeaway. affleck robin hood are both good and troublesome because while they were the pioneers of no commission trading, they've also gained by the experience and are definitely making money in a ways such payment for order for flow,
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which doesn't particularly benefit their users. and it certainly be been interesting to see how many people were so quick to hop on robin hood and hop on that trend, just because their friends were talking about it or they wanted to figure out what was going on. but i know something that you talk a lot about is the importance of financial literacy. now, given that we've seen this increase in the game of the cation of investing, what are some of your concerns from what you've seen when it comes to these new fresh investors? i mean, do they understand not just the reward, but also the risk of really what they're getting into? yeah, i think some of these new investors can definitely forget that the market moves in both directions. if you've only been investing since the middle of 2020, you only seen the market go one direction. in this type of scenario, you know, lots of young retail investors are dipping their toes into trading on margin or levering up the options. and that is an incredibly scary place to be in the very real possibility that the market moves against their trading position. and i know
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that there's something that might be a little bit more nuanced and i have about 32nd last year of, of him. but the fact is, is that, you know, when we talk about inflation, the topic comes to hedges, and that might be something that a newer investor might not know so much about. but what are you seeing people move into as we see prices rise? yeah, absolutely. some my personal favorite inflation hedges include the good old trusty i bond issued by the u. s. government, it's an easy way to help keep pace with inflation. additionally, things like you mentioned earlier, gold and more recently crypto currency can help against inflation due to their limited total supply. and last but definitely not least real estate either owning a physical home or a plot of land. or even just investing be a real or a crown funded real estate investments are a great way to hedge against inflation here, rich b f as vivian to thank you so much for your time and insight today. thank you for having me. since i'm out for a quick break, but when we come back,
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the federal reserve has finally revealed its way of to pursue a central bank digital currency. but how does that match up to other central base plans? we'll discuss that as a break here. the numbers of clothes i look forward to talking to you all. that technology should work for people. a robot must obey the orders given by human beings except where such orders that conflict with the 1st law show your identification. we should be very careful about artificial intelligence at that point obviously is too great trust,
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rather than fear. i would like to take on various job with artificial intelligence, real summoning with a robot must protect its own existence with a welcome back. the federal reserve has finally issued its white paper on the pros and cons of us back digital currency. this long awaited move now opened the door for debate over the issue. while the central bank did not issue an opinion either for or against is a digital dollar, b 40 page document does explore
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a plethora of issues and notes that public comment will be solicited. and joining us now discuss our boom bus cost. and for jo analysts, christy i, and ben swan, christy, let's start with you here. can you give us a breakdown of what issues this white paper explores? sure, it basically provided a very detailed analysis into the many benefits of the cdc, such as the speeding up the electronic payment system and digitizing financial payments. and it will also speed up getting things like stimulus payments out to people quickly when needed. and also providing financial services to the bank. however, some of the downside issues and the report highlighted the financial stability risk, the privacy protection, or lack thereof, and the challenges of guarding against fraud and other legal issues. so it goes on to say that a cbc would fundamentally change the structure of the u. s. financial system and the roles and responsibility of the private sector and the central bank. because most likely private banks would become sort of this hybrid entity operating to help
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distribute and circulate and maintain the flow of a c, d, c. and if that were the case, then banks would actually worry that it would eat into their deposit base. so that paper then had a checklist of 22 different items, soliciting public feedback, or pros and cons, basically asking if they missed anything. so this paper comes as central banks around the world, most notably that people's bank of china moved ahead with their own digital currency. so the pressure is mounting for the fed to make a move as do not fall behind. and now ben you been saying for ever on this show that there absolutely will be a us back digital dollar. is it safe to assume that you were wrong? it isn't good papers. the board said yeah, so, so rule number one is i'm never wrong. will number 2 is looking at, there's no question they're going to do this. i love the fact that the federal reserve bank put this outright a white paper saying, let's find out what the public thinks. now you're not finding out what the public
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things you know what the public thinks, and here's what you know, you know, the crypto currencies are overtaking the u. s. dollar, not in terms of power and might, but in terms of interest in circulation, you know, there's an entire generation and now 2 generations of people who have come along, who much prefer crypto currencies, over the u. s. dollar the only relics that are holding on to the dollar are those who are in power in terms of government positions, the federal reserve bank itself, and then the banking institutions that exist. so christy just said is very important. understand that when there is not it, but when there is a u. s. digital dollar that comes along, the banks will suddenly have to become more like an exchange, as opposed to the banking system that we have today. and the banks don't want that . so what they're going to try to do is car about as best they can ways to make the digital dollar fit their system rather than changing their system to, to fit a digital dollar. but the bottom line here guys is that it is, it is definitely going to happen. we are definitely headed that way because the
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digital system is a better system. there are a lot of problems with it. we can talk about that, but it is a better system overall. and in a quick example of that is the swift banking system. the fact the big coin has already rendered the swift banking system for international exchange and international deposits. a rendered it a relic. and so now every bank in the world is trying to move to crypto to settle deposits, as opposed to swift. it just proves its better technology and we will get there. and christy, we know what the central bank is saying. the pros are, but in your opinion, are there real pros, the u. s. forwarding their own digital currency for anyone other than the government? well, exactly. it depends on who you're asking that question to the people or those actually empower because i believe the downsides are greater than the benefits because there are some benefits, like real benefits include as been set faster payment transactions and people get their stimulus in time or their unemployment checks faster and there's a greater financial inclusion and all of that. and so i guess that it's also, we can say that it's safer because it's more difficult to hijack
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a cbd see account than the potential of a cash robbery. and there are, it's also ways the argument that a centralized model is able to react faster and control potential volatility and draw downs and avoid crashes versus a decentralized model that would just basically let the market ride. but those are basically the same benefits that already exist in crypto currency. so crypto crypto banks, the i'm bank crypto already has these super fast transactions feet and it's also very safe if people protect their private keys. so cdc is basically just piggybacking off of all these benefits of the regular cut, the current, the only the big why. but with more of the drawbacks such as the lack of privacy, the lack of security, and most of all the lack of control as you're basically handling handing all of your financial freedom away to the centralized authority. so no, all the real benefits will all end up benefiting the central authority. not the actual people. as shocking that the central bank would be in favor of a currency that gives it more control than we've got about 30 seconds left when it
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comes to some of those concerns. what we say are the biggest ones for when americans do get that digital dollar. yeah, i think the biggest concern is the fact that, you know, in the cash society government doesn't completely control you. right? because you have access to money and you can obviously keep it outside of the banking system. you still have it under a digital dollar system. you won't have that kind of control. so we've seen over the last 2 years, government indicating that mandating all kinds of rules on people's lives. when you add a monetary factor to that, where government could then say, but if you don't comply with what we want, we can train your bank account or we can just take your money from you, or we can freeze your access to all money because all money is digital that becomes a problem. so right now there's a private system and a peer to peer system that exists in crypto currency. if you get rid of that and government controls all money digitally, that could be very problematic in a free society. certainly a lot of stay care been bust, benson and christie. i think you both fear insight and sticking with block
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chain these days, the co founder of read it is now predicting that one being 90 percent of gamers will be playing block chain based play to earn games. alexi as a honey, an like many tech entrepreneurs has turned his bogus to projects in the crypto world. now during an appearance on the where it happens podcast, he predicted quote, in 5 years you will actually value your time properly. and instead of being harvested for advertisements or being fleeced for dollars to buy stupid hammers, you don't actually own, you will be playing some on chain equivalent game that will be just as fun. but you'll actually. 6 earned value and you will be the harvester. so what is the future of these types of games? well, the discuss, let's bring in, you spend joining the ide author and adjunct professor and why use stern school with a focus in the business of video games used always a pleasure to have you on the program before we get to your thoughts on actually what he's saying here,
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what exactly are these play to earn games and how big are they right now? right, it's an excellent question of player games on the types of games that use blace technology at non fungible tokens to put players in a position where they can earn an assessment in the game. and so played to earn really comes down to you purchase into the games you buy to essence, you upgrade them level them up to game play and then ultimately, you know, you're able to exchange it for tokens, for digital curse, or you can trade them altogether. and so in the process, you can actually generate income for you, sir. wow, that sounds like a fascinating technology that seems in some ways like it'll catch on. but i mean, what do you make of that prediction? is there any way that the overwhelming majority of gamers will step away from legacy games and turn to play to earn games instead? there guys, nuts. i mean 90 percent is to i don't think that's going to happen by a stretch. it's, you know, if that was going to happen, that we would have seen the same thing with free to play with mobile games.
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certainly, you know, and i'm sure will vote get that is at some point. but this week alone, the last 2 weeks alone to be see these massive acquisitions in the game space. it has everything to do with the incredible amount of, you know, cultural cloud, social capital that you see, the game space, cancel, pc mobile or equally, you're doing well. so it's not that there is some kind of for senator salience, the bad going on blush. a gaming, but i last assisted in september or october last year it really came down to about like 3 to 5000000 active players compared to, you know, a 1000000000 or so the other category. so it's, it's really just a drop in the bucket. yeah, i did it in 5 years, 90 percent of people only play games at that. make them digital money, i think is average isn't totally wrong. absolutely. i mean i, i think as, as a gamer, myself use, i tend to look at games as yes. i mean, i would love if i could make money while i play games. that'd be fantastic. but the reality is i do it so it's not worked. and i don't know how many times i've played a game where you're not gaining any actual currency, but you oh, this is more of
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a babysitting job and it's an actual fun game. there's a lot of that out there. now you would see, alluded to this a, we heard a lot about microsoft's nearly $70000000000.00 deal to buy activision blizzard this week with everything going on from controversy surrounding activision to microsoft, wanting that library to make to bolster their libraries. but there's also a lot of talk about how this is a play into the met averse. what does the future of gaming met averse actually look like or jumping a lot of technology at the same time here, right. and so, but i think the question is very pertinent to where we have block change of crypto . we have the metaphors and we have all these acquisitions in the middle. and how does it all connected? i think we'll, we're seeing as right before the introduction of a new platform before we have new technology ready as a disruptive effect on the rest of what we do in society. whether that's for fun or for money. you start to see a lot of these consolidation efforts. so microsoft requires activision for $70000000000.00, of course to expand its i p library to give its catalog, sort of
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a boost and be to convince people to sign up for services. again, pass. you know, it is a lay of into, to get into the mit averse, at least if you fall in such an adela's reasoning by saying, look, at some point you got to take your export gamer tag and you're going to go across different services into microsoft ecosystem. so what are it applies to crypto currency or block chain, or the metaphors? what's exciting to me as a scholar, that economic is to really look at. it's an a gaming that entry point into all these technologies, right? this is how people average people make sense of all this new fangled glitzy stuff and like how does it make, how does that make sense in my life in my day to day? and i see that that's something that often goes off, looked overlooked with microsoft is really puts a firm grip on that situation as early now we've got about 30 seconds left. i know you said that in a lot of ways gaming can kind of be that entry way into the metaphors. do you think gamers really catching on and embracing the members in the future?
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i think that most cameras care, they're kind of skeptical the bit of verse it's sort of laughed out of the room by lot of people out of the virtual room perhaps. and it's because so often doing we've already had this for decades. but multiplayer online games, things like 2nd live hold of warcraft places in a virtual sitting where you can come together and not just play, but also have meaningful social interaction. but that's, you know, for off romantic nature, there's been marriages in a language for decades or just having a good time. you're going on a quest that's been around. and so it feels a little bit like, you know, all these big companies are just finding, waking up to something we've known for years. absolutely, and i've said earlier on the shower, it seems like matter versus the buzzword you spent. right. and thank you so much for your time today. i was a pleasure. thank you. and that's it for this time you get both on portable tv, find it at portable dot tv will see you next them good. is your media a reflection of reality?
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in the world transformed what will make you feel safer? high selection, whole community. are you going the right way or are you being led to some with what is true was his way in the world corrupted. you need to descend a join us in the depths or remain in the shallows. yes. oh look risky. in fact, will you, elisa, typical there is only 9, but already diversity students that away i was thinking about this
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back of the bill on the case to seems a new month appointment. let see, i believe you got the floss, the stores padilla them. he did have slots and i am no bluetooth enabled uh, global but oh yeah, but that's a little only thing that i feel with yahoo jumps the he nickel good no recalls. he really shows control sledge programs . now. bush night nebraska, not porcelain will your special, but i will the yeah. my is what i say the 3rd grade numbers think it was certified . that was to kinda push him was a new mom. she's in the something that evaluated for w that he was, it was as much color. i knew it with soon losing her balance due to due to put a good. when you most of judge a, b one could be produced. teachable was also reason is balise. we'll come on good. oh, enhanced interrogation techniques used by the u. s. officials were
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basically designed as techniques to break down the human mind. if you force a human being to stay in a certain position doesn't take very long to the pain involved to become absolutely excruciating. but nobody slain finger on you, you are doing it to yourself. we started adopting those techniques when i was stationed in mosul among them, wordpress positions sleep deprivation inducing hypothermia. there's already beginning to be evidence that these old techniques are now being used on immigrants and children, whatever you do or more comes home. nobody has been held accountable for the torture that happened in the past. the moral authority, the made america awarded or sacrifice the shimmer of effective interrogation.
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ah, the we recently notified congress of or intense deliver and 17 helicopters of the latest round of the escalation talks to us joins other members can wrapping up supplies of weapons to tear told russia to pull back its own troops from its order would refrain running against restrictions of breaking out across europe with anger and france. vaccine landed across the channel in britain, their protest against mandatory jobs to health workers whose medical expert to be able to be international and impact committee to toughen rules about transgender athletes. saying they have an unfair advantage being willing to support.


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