As an ecommerce site when youre talking about doing that what youre actually doing is youre strengthening the monopolies that these Tech Companies already have the stranglehold they already have and by going around using the full force and might of the u. S. Government youre preventing any kind of foreign competition to companies that are not benevolent companies or companies that have abused their power in the past and will only continue to increase that abuse as they are the only game in town not jeffrey what about that point that ben is making here i mean these moves are actually antitrust or anticompetitive practices but are being issued by Big Government instead of another company do you see it this way as well. Ben is absolutely right and ill tell you Something Else is absolutely right is that the spokesman for the Chinese Communist party i hate to say. You know when the communists are preaching markets and competition and the u. S. President is d is is using a wild experiment in digital protectionism and nationalism its a loop where intrude into a very creepy realm you know i never thought i would see the app a con a me be be shattered and bludgeon like this in the name of nationalism and i dont even know what it looks like and its a level of crazy i cant even expect and thats exactly right you know you start getting rid of alibaba and and start tearing down random apps that social media apps that kids love to use youre in a different kind of realm you sort of government power the contradicts everything weve known about competition and Market Economics for hundreds of years its deeply dangerous and very very disturbing you know burn the trumpet ministration notes on monday it will further tighter restrictions on weiwei technologies aimed at cracking down on its access to commercially available chips what does this actually mean. Yes so essentially what theyre doing is theyre theyre going to add 38. 00 weiwei affiliates in 21. 00 countries to the u. S. Governments economic blacklist so essentially theres 152. 00 affiliates since while we was 1st added back in may of 21152 affiliates of weiwei can no longer be able to sell those chips because of their connection the way listen what jeffrey just said it should blow your mind and i know this show is watching globally and its watched all around the world and for those of you who are watching around the world this is not what american capitalism is supposed to look like and do not kid yourself thats not what this is opposed to me america is supposed to be a nation of free markets where you come in you build a company and you are able to have a. Even the Playing Field not equality of outcome but the equality of opportunity and what this president is doing is acting as if he is the communist leader in a country like china where he would say the government will decide what companies exist the government will decide what controls and heres the really crazy thing about all this the companies that hes actually building up by doing this are companies that hate him that companies that are social Media Companies cant stand this president the Tech Companies that hes defending and and the ecommerce sites and amazon and their owners like jeff bezos they cant stand this president so why is he been doing over backwards to give them even more power at the expense of a free market principles it just my head explodes every time i do one of the stories jeffrey i think that big question of bens asking why is very important because what are the economic or Even National interest points in making movies like this by the United States president. Well this is going to set us back technologically even further than we are already and it is true that china is way ahead of the u. S. In Communications Apps and Financial Technology and 5. 00 and 5. 00 g. So to enslave the u. S. Economy away from that kind of influence of technology is going to throw us even further back and its not going to help us economically look i think what i dont know have been agrees with me about this and i but ive thought about the slot i think what you really have here is a president thats genuinely confused he sees the world as a 0 sum game and if somebody else is doing well that means theyre at the expense of the u. S. And if we crack down on them and make them suffer and somehow thats going to make us better off and i think hes a genuine Old Fashioned protectionist and almost alone hes overridden 70 years worth of u. S. Influence in the world towards free trade prosperity and free markets to implement americana to list 18th century style a nationalist regime and i dont know what else it could be due to except basically intellectual air because u. S. Companies do not want this theyve theyve always opposed the president s tariffs and theyre certainly opposing this even though as ben says some of the big tech chants will benefit from of this but i dont think they want war with china this is very disturbing be interesting to see what happens with a if there is a change in leadership in the country in november as we have an election coming up here so we will see that Jeffrey Tucker of the American Institute for Economic Research boom bust cohost ben swan thank you both for your time. Thanks. And trading in the markets remain subdued on monday as traders weighed the prospect of tighter quarantine measures against continued Government Support now meanwhile tensions continue to mount between the u. S. And china as the 2 have postponed trade talks as well that had been set for this past weekend to discuss the status of the phase one trade deal but markets perked up slightly as china made another liquidity injection lets go ahead and bring in blue bus cohost christiane to go over the details chris i want to start right there what does this new liquidity injection mean for these markets well the peoples bank of china just offered 700000000000 arm b. Of one year funding via the medium term Lending Facility so this is to offset the 400000000000 army that in loans coming due monday as well as the other 150000000000 maternal later in august so this liquidity injection signals a moderate easing of Monetary Policy monetary conditions as well as interbank borrowing costs that also decreased following this cash additions so this additional liquidity and the Government Support this help to to support the shanghai composite rally and close up about 2. 3 percent and indicate to the entire market that very so much of the fed like the fed the p. T. O. C. Is now taking a more accommodative stance on keeping liquidity at levels ample and this will ensure that commercial banks will have and can can continue to support all the bond issuance it and stabilize credit growth so all in all Central Banks around the world are becoming increasingly accommodated in the face of this pandemic and the markets taking it like steroids its becoming addictive and it has diminishing returns as weve got a law now kristie weve talked about this actually off there several times but what happens if we stop seeing Central Bank Intervention what is going to happen to markets in the economy the Central Bank Intervention is the only thing that is supporting the equity rally right now it is the only place where people are getting any sort of yield growth because everybody expects the fed the central bank the p. T. O. See what. Ever nation the whatever nation is they expect the central bank to come in and support the market because right now as i said its like steroids theres diminishing returns every single time but the market is taking it because it is addicted to it and then with the additional liquidity injections they believe that is too big to fail so every single time we have this rhetoric its always bad news is good news because the worse the Market Conditions get the worse the pandemics get the worse the real life Economic Conditions that people and consumers face the more support and the more stimulus were going to get and now speaking of the worst japan just reported its worst drop in g. D. P. On record as saying that it continues to rate how does that compare with the other economies that were seeing contract and some even expanding at this point well like all of the other economies japan david contraction was largely due to the shrinking Consumer Spending because of the restrictions imposed in order to contain the code that spread but a lot of it was also from falling exports so consumption like the u. S. It accounts for about half of the japans economy and thats left about 8. 2 percent in the last quarter and the downturn in global trade shows about 3 Percentage Points off of g. D. P. So while this drop hasnt been as drastic as some of the other countries that weve seen the u. S. The u. K. As well as germany that of all topped about 10 percent slump this japan actually started off on a lesser foot and they were already in a more fragile economic state to begin with so this has been the 3rd consecutive quarter that growth has contracted which kind of underscores the vulnerability to further downside shocks so analysts are also warning right now that the 2 stimulus packages announced in order to support japan that will expire in september which will pose a huge risk to the small and medium businesses businesses that comprise the bulk of japans economy so its a very similar situation to what the u. S. Is actually facing right now now as markets continue to bounce back kristie Trading Volume has increased noticeably for retail we talked about that over the last couple of weeks robinhood Just Announced its 3rd major cash injection or. Or to keep pace with the growth whats the story there so it seems like a good portion of the stimulus checks are actually going into trading whether its robin hood or cryptic currency trading as people stuck out home theyve decided to become day traders in order to generate income so the Younger Generation especially they have jumped ahead headfirst into a market that has experienced the fastest bear market and recovery and wall street history so rather who was a Trading Platform that suffered multiple days of blackouts due to being overwhelmed back in march with orders during the drawdown so they had Just Announced a 200000000 series funding on monday which is the 3rd major investment and nearly 5 months so its valuation is now 11200000000. 00 which is an increase of 3000000000. 00 from simply july if you can imagine the growth has come in a historic year for the u. S. Equities market as robin hood t. D. Ameritrade. As well as they have all seen record consumer account growth and 2020. Christiane thanks for breaking it down for us thank you. For a quick break but here because when we return as professional sports leagues have begun to return to the United States could we see moving forward with College Teams and with the kobe and bet it will be again. I. So what weve got to do is identify the threats that we have its crazy confrontation let it be an arms race is on off and spearing Dramatic Development only personally im going to resist i dont see how that strategy will be successful very critical time time to sit down and talk. Has changed american lives but pharmaceutical companies have a miraculous solution. Based drugs to people who are chronic pain patients and believe that their prescription is working for them on the remedy be certain to. Price at the. Grocery dependency and addiction to opiates to long term use that really isnt scientifically justified and all study actually suggests that. The long term effects may not just be the absence of benefit but actually that they might be causing long term. By the pandemic no certainly no borders and just blind to nationalities. But you. As a muddled up with the we dont look like seen the whole world needs to be the chief. Judge of this commentary crisis what is interesting to modern times we can do better we should. Everyone is contributing your own way but we also know that this crisis will not go on forever the challenges create the response has been much so many good people are helping us. It makes us feel very proud that we are in it together. No shots. Actually dont. Know. Which your thirst for. And welcome back home but 19 has officially taken the lives of more than 170000 americans as a monday so with this in mind lets go ahead and take another look at the trends and spread of the virus globally with our correspondent side to have a child where weve learned so brian were now reaching almost 22000000 a global cases and while more than 14600000 people have recovered over 746000 have died which now is obviously actually climb to 775000 now look at the u. S. Alone theres been over 5500000 confirmed cases and while the death gross has now grown 2173000 now so looking not just in the u. S. This shows the growing daily new cases happening now over the past week theres been an average of 51000 cases per day now while these numbers remain high across most of the country the cases have actually dropped since late july when the country was averaging about 60000 cases per day now meanwhile death still still there high peak levels during. Spring i should say have reached an average of about a 1000 deaths per day which is more than double actually from early july and according to a projection by the c. D. C. The number of deaths could grow 2189005 september 5th would which average about 842. 00 deaths per day now looking at the trend for the 5 most affected countries with the most new cases per day this is where we are india has been recording at least 50000 cases per day since july while the number of people who have died has now top 51000 india is also the 3rd country behind brazil and the us to record more than 2000000. 00 cases but it does have a relatively low a fatality rate over 1. 9 percent compared to the world of the average of 3. 5 percent so that is somewhat of a good news now in the us is up discussed earlier is nowhere near flattening the curve with an average of 51000. 00 cases per day now brazil is suffering the worlds worst outbreak after the us now they have 3300000 cases and over 107000 deaths and just when we see that their cases are going down from 8 year indication the cases go right back up again now they have the 4th highest number of cases in latin america and as you can see their cases are just continuing to climb now meanwhile on a per capita basis colombia for talent numbers are the worst in the world with 43 point one deaths for every 1000000 people now another country hit hard in latin america is peru which added more than 10000 cases just in the last 24 hours pru also has the highest the 2nd highest number of cases in latin. Following brazil and brant besides the u. S. All these countries india brazil put you in colombia theyre all developing countries so the if you want to flatten the infection curve now the more you going to have to lock down these countries and when you look down a country youll need more then youll need more of a fiscal space to ease the recession thats going to follow and that income that fills the fiscal space for the developing cuts in the developing countries is mostly from foreign income like commodity and exports and tourism which has all collapsed in the face of the pandemic so in other words just when these developing countries need to manage dependent make most have seen their fiscal space disappear and under these conditions if developing countries want to flatten the curve they lack to believe or a capacity i should say because if people have to choose between a 10 percent chance of dying if they go to work or a guaranteed starvation if they stay home well theyre bound to choose work over staying home. Our chief correspondent sorry tapper thank you for keeping us up to date. And as the nation continues to grapple with the coronavirus pandemic sports have become a major topic of discussion in the last month 3 of the 4 major sports in the u. S. Have resumed or started their seasons while the National Football league plans to start on time in Early September but College Athletics well theyre a whole different story as 2 of the power 5 conferences the big 10 and pac 12 have decided to postpone fall sports including football the move has prompted players to push for a reversal of this decision ohio state quarterback for instance and possible Heisman Trophy finalist justin feels well he started to change dot org petition titled hash tag we want to play which as of monday had received more than 200000 online signatures players have also found an unlikely ally in president donald trump. I want to say that i want College Football to come back these are Strong Healthy and credible people great great talent quarterback dr Lawrence Clay the statement that he feels hes safer on the field he safer on the field that hes out. You know outside of the field he feels very safe and now it should be noted that College Football is a huge business in the United States with these power 5 concerts and pulling in nearly 3000000000. 00 in revenue in fiscal 2019 a lote so lets go over the financial ramifications and bring in kurt bottom hausen Senior Editor at forbes focused in sports the business of sports kurt thank you so much for joining us today i want to start with this here we know we know that there are billions of dollars in deals when it comes to Television Rights for sports how are these postponements for college ball going to affect Television Deals and the networks going to be hurting as theyve already had to face truncated seasons for the n. B. A. N. H. L. And m l b. Its really a mix across networks across courts leagues whether youre talking about pros where college. Is so much of the mind when when we talk about basketball and hockey and. Tickler is tied up in the playoffs as well. As for Major League Baseball and so if those sports are able to accomplish the playoffs soon then for the most part that we have a clip most of their t. V. Money but to your point the schools are going to big hits the big 10 has massive Television Money that comes in weve seen michigan and wisconsin so they could lose each 100000000. 00 if they dont have footballers year. When there isnt you know i mean most of these are long Term Contracts the pac 12 is in the middle of a 12 Year Contract so for the most part you know they have a partnership and they want both parties to be happy so its not a case where the networks are going to cut off the schools and the schools are going to push back and say we need 100 percent of our money there is a partnership between the 2 candidates and no if we look at this that thats wall street the e. S. P. N. Disneys of the world what about main street here with the trickle down effect here lets look at Something LikeClemson University which plays in the 8th see and its still playing to play its season but if fans are in the stands how is this going to affect all the Small Business is in the area that rely on hundreds of thousands of fans coming through every week because that South Carolina is not exactly a booming town outside of the university what are we looking at there. Yeah absolutely College Football particularly in the schools in the south east there their own huge economy is just on their own on weekends and its not just game day you have. Tens of thousands of people coming into these towns every single weekend theyre staying in hotels theyre going to restaurants theyre shopping you know these generally hundreds of millions of dollars beyond just what theyre spending in terms of tickets and so you know were looking at a situation where either theyre going to be no fans in the stands or very reduced capacities which which will have a severe impact on these local businesses you know looking at a broader angle what are your thoughts on the sport that have been able to restart with each really kind of making their own perkoff sions to limit the spread of the virus whos doing it right and has this been a win for these leagues so far. I think that certainly the leagues that have operated in a bubble namely the n. B. A. And n. H. L. But also when i last. As well as you look at small explore sleaves like the premier of across League Operator new top theyve all had. Very strong success have been very few positive cases since the bubble started. And theyve been able to move forward and again the n. B. A. Started the playoffs today. The playoffs their revenue picture looks dramatically Better Baseball has been a little trickier because theyre playing in their home markets theres no bowl but for the most part you know if you look past florida marlins you have passed the soon Louis Cardinals then been able to operate almost business as usual with very low numbers of pieces so i think as you move forward to closer to the playoffs for baseball i think youll see teams really a lot of things down so they dont run into they do their best to not run into a situation where theres a big operate within the curb on those enough for us thank you so much for your time and insight well have you back to talk about this further d. Thanks so much grant. And thats it for this time you can catch boom bust on demand on the brain new portable t. V. s which is available on smartphones and tablets through google play in the Apple App Store by searching portable t. V. Or t. V. Can also be go to a newer model failed so smart t. V. As well as a device that are simply check it out a portable t. V. Well see you next time. Yes. In this connection to moment last chance to ask for the last 70 and seeing and on the rest today for the rights Promotion Commission sue. Bridge to shift to town disc in the. Engine coming on. Legion mom. No new car so said im not going to much team mama its just that our. Is your media a reflection of reality. In a world transformed. What will make you feel safe. Isolation full community. Are you going the right way or are you being led so. Direct. What is true what is faith. In the world corrupted you need to descend. To join us in the depths. Or remain in the shallows. One else so small. 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