Transcripts For RT Boom Bust 20240711

A fact that seemed to benefit the heirs in a remarkable way remember that billionaires after the 2008 crisis are quite drupal and are more their wealth while a move fast way the American Population went bankrupt and lost their house so im pretty sure going to see a repeat of that by. Joining me every thursday on the Alex Sullivan show and ill be speaking to get off of the world of politics sports business im show business ill see you then. This is a boom bust of the one business show you cant afford to miss friendship or in washington coming up the markets are roaring following a breaking development in the race for a coven 1000 vaccine straight ahead well bring you up to speed on the latest from pfizer and where we stand in the face of the Global Pandemic that the e. U. Is moving forward with 4000000000. 00 in tariffs on u. S. Products due to illegal subsidies provided to boeing later well go over the details and how a change in the white house may affect the trade relationship between the 2 sides with a packed show today so lets dive right in. And we lead the Programming Program with promising news on the copen 1000. 00 vaccine front as early data from foreigners or shows there vaccine candidate was more than 90 percent effective but does this mean the end of the pandemic is in sight well our t. V. Correspondent tony chavez has been following the story and filed this report. Say a coven 1000 axion has been developed and maybe more than 90 percent effective german Biopharmaceutical Company pfizer and manhattan based drug maker bio when tech says an early look of its corona virus vaccine data suggests that the shots may be more than 90 percent effective at preventing that 19 ton toy its as of today there will probably be a vaccine against a new virus quicker than ever before in Human History thats what it looks like anyway we can be optimistic optimists or sun experts say the development is a significant step toward calm. In the deadly virus that has killed more than 1200000 people worldwide including almost a quarter 1000000 in the United States alone with cases rising in nearly every state right now there are many groups. Record number. We have now. So this is a very serious situation. According to Johns Hopkins university 43 states reported at least 10 percent more new coven 19 cases on monday compared to last week while the average of daily number of new cases soared 34 percent over the past week while testing has only increased just over 7 percent during that same time period cases and hospitalizations are setting new records all around the country just as the holidays and winter approach dr megan rainey an emergency room doctor at Brown University says we are heading into the very worst of the pandemic right now the degree of spread of this infection and its toll on our country is going to be to a large extent determined by what happens in the next 2 months while the global number of coven 1000 cases top 15000000 what the us india brazil and russia hit the hardest but as the number of covert 1000 cases in the u. S. Approaches 10000000 texas alone is inching toward 1000000 cases with more than 5000 reported on sunday now medical experts say that if americans do not adopt a social distancing and universal mouse querrey we could see 200000 cases a day by thanksgiving reporting for boom bust trinity child as r. T. Meanwhile the director general of the World Health Organization can gradually the u. S. President elect joe biden and Vice President elect come away harris on monday on their victory in last weeks election adding that it will take strong leadership in the world coming together to overcome this pandemic. We need to remind you in leadership. Built on a meter of trust and need to have accountability to end up under me and address the fundamental inequalities to live and the root of so many of the worlds problems its time for the world to heal them from the ravages of despondency and i jog on to go to divisions that only drive us into their chairs and im healthier im safe and im fair a future. While this may seem like a very political statement from the w. H. O. It should be noted that earlier this year the trumpet ministration took steps to terminate the u. S. Relationship with the organization however leaving requires a 12 month the notice setting an exit date of july 6th 2021 now following the announcement back in july then the candidate joe biden said he would rejoin the w. H. O. On his 1st day in office. So with all of this in mind lets go ahead and take another look at the spread and trends when it look we look globally of the virus with our key correspondent saya tavenner sorry where are we so brant adding on to on trinity was over already saying so over the weekend we reached over 51000000 confirmed cases globally the u. S. Reported is its 100000000 case on sunday so 1000000 new cases reported in the u. S. In just 10 days make it had the most widespread wave of infection since dependably has began now global deaths are of course in par with new cases while the u. S. Is leading the world in deaths with almost a quarter of a 1000000 and right here on sunday the u. S. Reported more than 103000. 00 new cases and now the 7 day new average is exceeding about 111000 per day far more than any other country and right now the states that every state i should say in the country were going up in cases while 8 states is aid right here more 3 Rural Counties where people are social distancing less and or not not Wearing Masks which are call about a Nebraska Kansas i am going to so what i was constantly illinois and kinetic had their cases are up 100 percent or more compared to last week and when cases go up of course deaths are also go up in the country is up 14 percent in that compared to the previous week and now look at the numbers globally right now 8 other countries in the world have reported over. 1000000 cases india has over 8. 5 brazil over 5. 6 now a russia france spain argentina u. K. And colombia theyve all surprised 1000000 cases brant and most are we just talked about the w. H. O. Congratulating president elect joe biden do we know anything about his call the 19 plan as that was such a big part of the campaign so heres a quick summary of bidens pandemic plan so number one hes going to be this is bidens 1st priority is protecting obamacare now right now about 7700000 americans who were laid off during the pandemic also lost their Health Coverage as of june now with their dependents they make up about 14600000 people so biden wants to make sure that they once again get access to Health Insurance number 2 a National Mask mandate exactly what that is hes going to be urging governor in every state to have amassed a mandate now a 3rd as a paid sick leave hes going to push for hazard pay for essential workers who are typically very low they get very low paid wages so think of hospital workers agrees Grocery Store workers fast food employees and so on now for us is the c. D. C. Tracker now recalled President Trump temporarily he changed the way hospitals were reporting information to the government he took out the city c. D. C. Out of the equation so bidens going to bring this c. D. C. Back to track the information on call the 1000 patients now lastly is frequent 100 test for all right now they say free 90 frequent 100000 but thats actually not the case its only free if you have Health Insurance everybody else has to pay something out of pocket so you want to make sure everybody gets access to a free cold in 1000 test brant and sorry theres been a new in form of krona virus found in denmark what do we know right now so last week the Danish Government reported that a mutant form or a krone virus in a mink farms can now spread. Back to the virus and you know guess how the bank got the virus in the 1st place well from farm workers but this is a problem a genetic change of the kron a virus is not occurring in the main now what does that mean if so it has the potential to make a future vaccine not effective and so denmark is in is in the process of killing all minks in the countrys main farms so thats fast 15000000 makes in total to reduce the risk of the animal really transmitting this back mutant strain back to humans now and so other european nations are also responding to this outbreak they have either our broadband anyone whos been in denmark in the last 14 days from entering or theyre requiring a mandatory quarantine upon arrival some are also you even halting any freight from coming from denmark so theyre taking this very seriously are 2 correspondents saya tablature thank you for keeping us up to date. And Global Markets popped on monday following that news regarding pfizers progress on its vaccine now the dow alone was up as much as 7900 points before open before seeing those gains kind of fall off a little bit and closing around 850. 00 points up but it did hit record highs throughout the day while the s. And p. 500. 00 had traded at over 30 percent higher hitting record highs of its own paneuropean stock 600 also gained nearly 4 percent on monday as well so lets go ahead and check in on the state of markets and the economy with boom bust cohost christiane activia marandi c. E. O. Of optimist l. L. C. Thank you both for joining us today octavio i want to start with you the markets are going other tremendous leg up is this rally a little overextended now given that we are still in the midst of the 2nd wave of coping 1000 in europe we have been promising vaccine but thats going to take time to deploy and america might be facing more lock downs in states if these counts continue to increase here what are you seeing with this rally. When it does look like a mofo. We see really serious numbers increase in pensacola infections and your such you see your case they say is off the charts as you point out and us numbers going up about this well you know how a being seems like the taliban to be. Disintegrating. But if you look at u. S. Markets as exactly how they seem to be. So the stocks that weve seen. Today things like travel style Delta Airlines of 70 cent. Com is a company i think everyone there was actually. Telling on the stocks the big bad. The stock was into doing baggage they were those kind of tech stocks. Down to the very very well so apples amazon. And risk masses such as gold prices and the president of the very hot so maybe looks like the market so were going to back to normal everythings ok at the same time a number of cases a day now so it seems that most of it no kristie to octavius point there the nasdaq is there actually the market laggard today well thats a piece of the dow are both up 3 of 4 percent i want to clarify because i may have said a different over there in the opening but what is behind that lag beyond the obvious here which is that youre probably not going to use exhibits about you might not be watching netflix as much but we also may be a year to year and a half away from vaccinations so what are you seeing here. You know right now this huge rotation which is crushing a lot of the quote funds so the nasdaq was much higher overnight on the hopes that the fat may have to step there with not much very easy to offset that knocks knocked out now that well dont be elections but instead weve got this money slice of that its a new color that scene has us 90 percent i think its the brain so that not in this organic real inflation trade today in lieu of the strait were just pumping out all the small cap names at risk you need to have got questions asked here and dropping all the duration momentum names just like a lot of bank stocks and the nasdaq comp last so investors are scrambling to cover a lot of their small pot shorts at a place where the election lead tightenings which has been absolutely overwhelming this year out. At. On the core at the moment and this. Could explain as most of the behind me in long and complex consume that you should. Today. So theyre getting. This massive on line. Like were not. Training so kind of like politics become very whole were all so he swings theyre very scary director today its everything not a traditional. And i active you know the news regarding pfizer and biotechs vaccine is really pushing markets up as we just mentioned well some are calling the timing out of this announcement and the question coming after the election rather than before but it falls in line with the time when the company said a few weeks ago when they were when fire was giving their earnings are market saying this is a real breakthrough or is another vaccine bait and switch that weve seen in the past. Well it is a bait and switch the markets for it hook line and sinker and they would put their money where their mouths are and be behind this and backing this one so they are real but i think some of that is an older. Vaccines the promise and zs of many many years i mean im still waiting for a nation on the backs of the decades was just around the corner just a few weeks or months away from coming to me and so i would i would seek or should we expect in this. Program viruses and disease and around for a long time. Since the current rise to some time and success so im not sure why this woman has such an enormous breakthrough. Absolutely proved wrong but i would caution that i dont think celebrations we call for. Now kristie when we look at whats been going on with the markets movement especially amid the pandemic big quake has been surging and its continuing this joe strong momentum even after a major rally how is this rally different from the one we saw in 2017 where big hit its all time highs and then that subsequently came crashing down. Well this time around this is just a different story bit criner not the entire quantity based not on the chart companies actually have come to their didnt limit their pockets to just to find the right. Back in 2017 easy with a speculation that. Could be well. You know i see where were having the final call and. Yet christine were having a little trouble with your connection so lets lets just go to this next point that i want to hit on with octavio is expected to be a quiet week moving forward after we just lived through basically a hurricane of news in the past 7 days earning season is basically winding down and focus going to shift towards Consumer Spending and this Holiday Season that we have coming up what are you expecting in the 4th quarter of this year. Well i dont. Expect to be a. Leader on the other side of things. Of course i my natural news got of a slow week but yeah. Its been a very dark weeks and says by now. You say. Well i think if you look at Consumer Spending overall things look pretty good for u. S. Consumers in september. And now in the 1st part of the movie see that nothing terribly serious of a slowdown maybe that consumers are getting because again and look at this and say were not really sure that rex is going in make the election who knows but if the 1st week of the. Beyond that we have. Is. Only really returning side. And those of us on the sectors that really we can continue to look. At things like entertainment and whole Airlines Cruise lines things that sort of despite the fact that this is almost more than the stock prices are still in very bad in terms of revenues Consumer Spending absent a line who are perhaps a consumer. With the market thinks things are going but the consumer hasnt been told it was actually messages in the still waiting so ill have to wait and see what happens over so far they have a message october optimist alfy and boom bust cohost christi i thank you both for your time today thank you. Time now for a quick break but hang here because when we return the e. U. Is moving forward with 4000000000. 00 in tariffs on u. S. Products due to illegal subsidies provided to boeing well go over the details and how a change in the white house may affect the trade relationship between the 2 sides we have and as we go to break here are the numbers of the quote. Tactics that can be used to get innocent people to confess to crimes they didnt commit i dont even think people in the u. S. Really get that the police are allowed to lie to the person who falsely confessed actually came to believe the lie that they were told about their own behavior once a false confession is taken the case is closed and nobody really can tell the difference between a good confession and one that isnt. The. Same wrong. That hes yet to stamp out just they become active. And engaged because the trail. Find themselves worlds apart we choose to look for common ground. And welcome back the European Union said monday it would impose tariffs on up to 4000000000. 00 in u. S. Goods and services the move comes after the World Trade Organization ruled the u. S. Had provided illegal support to plane maker boeing giving the e. U. The green light to impose limited penalties on u. S. Trade last year the deputy o. Made a similar ruling in favor of the u. S. Due to european subsidies for boeings biggest rival airbus resulting in penalties goods worth up to 7500000000. 00 you officials had hoped to avoid tariffs by a negotiated solution but the 2 sides were unable to come to terms how a very spokesperson for the European Commission said monday a change in leadership in washington could affect the trade relationship between the 2 sides do you is waiting for the new president elect to take office the 4 starting to comment on what this will imply when it comes to our relationship if you will have noted of course the Statement Issued by the president on the areas of work to challenges that we both face on which we are looking forward to. Very narrow cooperation with the United States. And for more on all of this lets go ahead and bring in hillary ford which board member with the British American Business Association hillary always a pleasure to have you on and i want to slow around with these tariffs approved by the European Commission why were the 2 sides not able to come to a quote negotiated solution to avoid tariffs or both sides well burn pleasure to be here with you and this has gone on for quite some time this has gone on since before 2004 so way prior to this Previous Administration and many other administrations of tackle with this issues a couple things big picture details and then sort of the situation so to answer your question they havent come to any agreement due to the duration bought i would say this the the recent tariffs the 4000000000 you referred to there are 15 percent tariffs on boeing products and then there are 25 percent towers being levied thats the remaining 44 percent and those 25 percent tariffs are on such products as u. S. Tobacco u. S. Not seeds u. S. Soups u. S. Sources u. S. Spirits and u. S. Tractors and proteins going into europe so what a lot of this is though is that the e. U. Trade commissioner of lattice drum bosky he is actually quoted as saying we will no longer and as soon as the u. S. Stops imposing that our so you can tell the reason for this as they havent come to an agreement because they want leverage and both sides are playing brinkmanship you know President Trump has been a hard liner on trade especially when it comes to situations where he sees as unfair and as we just heard there in the setup was basically there are subsidies on both sides how the b. T. O. Sees this situation now if their Election Results hold up and joe biden becomes the next president in january do we see this relationship mending and maybe the u. S. Backing down off of their tariffs and a deal being made to do to undo these or to undo the penalties for that better well but yes i do see if you listen to Robert Reich Houser the Current White House trade representative hes even already said. That those carrots imposed by imposed by the e. U. Are unlawful because dont forget the subsidies to boeing have already been repealed by the u. S. So there really isnt a footing for this given theyve already been repealed i think both sides going back to my were brinksmanship playing hardball because they want to have something to fall back on and that is what is already alluded to so yes i do see probably off to january both sides will probably step back and step down well hilary talk about hardball for a little bit because negotiations over a post. Between the you have resumed monday as both sides say theyre actually ready to quote redouble efforts to make it an agreement despite the differences on both sides one of the central issues is access to british fisheries though something thats something weve talked about it a great length now the british environment secretary George Eustace told sky news in the u. K. Is the u. K. Is open to a sensible approach on this as part of a deal what might a sensible approach look like when it comes to the fisheries where you do im going to talk about all these things that have gone on for years yes fred but what this means is what he means by about a sensible approach is 1st of all there is a red line and Boris Johnson referred to the spectacular maritime wealth that the British Isles possesses and there is a red line with regards to control over what a british waters actually if you read the european some of the European Press its very interesting to say they say the british insists they should have control what it is their waters but what the red line is is the control however what he uses as just said which is Great Movement he said would be open to a sensible approach Something Like a couple or perhaps 3 years so he now hes actually indicated a duration of time and thats actually it may not sound big but thats a big step forward and i have about 15 seconds for you do we have a deal before the end of 2020. I believe that we will because its in its in both sides interest and none night. Side wants to cut off their nose to spite their face and i do think that you look at the job mention this many times and judgment call manufacturers and all of the manufacturers in europe they want access into the e. U. And they have a lot to lose that putting a lot of pressure on local and actually a problem of the fishing villages i think yes you will see a deal every ford which of the British American Business Association thank you so much for breaking it all down for us welcome pleasure. And finally a new step forward for virgins ultra fast transportation hyperloop system as it successfully conducted its 1st human passenger test dubbed the pegasus pod the test took place on sunday at the companys dev loop facility in nevada where 2 passengers were fired through a 1600. 00 foot tube now the castle speed in the test was limited to 107 Miles Per Hour to provide a comfortable ride Virgin Hyperloop project the system can reach 670 Miles Per Hour so far the companys record is 240 Miles Per Hour that was set into 2017 now greater speeds are expected once the 2nd hyperloop facility is built in west virginia. And thats it for this time you can catch boom bust on demand on the brand new portable t. V. s which is available on smartphones and tablets google play on the Apple App Store by searching portable t. V. Portable t. V. Can also be downloaded on a newer model Samsung Smart t. V. s as well as roku devices or simply check it out at portable t. V. Well see next time. 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