Transcripts For RT Boom Bust 20240713 : vimarsana.com

Latest on the scuffles between the u. S. And china over that phase one trade deal thursday china announced a new list of import tariff exemptions for 6 chemical oil products from the United States these exemptions will last for one year kicking off december 26th though Chinas Finance Ministry as not provided a value for the imports excluded from those tariffs what we do know is that the waivers will apply to 4 Chemical Products including Refined Oil Products that include white oreo and food grade petroleum well meanwhile there has been a lot of talk about how this phase one agreement will be such a big win for workers that is the narrative that we on this show have been challenging in fact on the day that the u. S. Seems see a agreement was announced every other business show was praising this as a huge win for the u. S. But heres what we told you. So what is significant about the labor part of the deal wall mung other things this agreement requires that 75 percent of automobile components be manufactured in the United States canada and mexico in order to avoid tariffs that number though was under nafta it was only 62. 5 percent so its really not much of a change the u. S. In ca also requires that 40 to 45 percent of automobile parts be made by workers who earn at least 16. 00 an hour by 2023 and by the way mexico has agreed to allow arbitration over labor disputes which is certainly a positive for workers in mexico but it doesnt really affect American Workers the reality here the u. S. In ca is not bringing those jobs back its not going to bring manufacturing back to the United States its not going to mean more money for American Workers and brant its not going to mean lower Prescription Drug prices for American Consumers period. A week ago will thursday the United Auto Workers president rory gamble issued a statement that echoes exactly what we told you then saying this quote the u. S. In ca is not a fix for the many problems created by the north American Free trade agreement and other misguided tax and labor policies that have flourished for decades in our Nations Capital and state houses throughout the country hundreds of thousands of us jobs that have gone to mexico since nafta came into being 25 years ago will not return because of us. One of the very interesting thing that all of us political theater actually boosted alive transpires right now their voters actually with him and its surprising that all this political theater is made out of absolutely nothing phase one trade deal is basically a non deal its basically just a truce rather than a reconciliation and this as you pointed out doesnt like fix anything and again its both House Democrats fanning along with the president fanning success when weve done so much for workers when in fact theyve done nothing for workers in 25. 00. Years from now if the us is unchanged it will i think go down as a huge disappointment just like now because while nafta surprise people by have bed is hurt manufacturing the us will surprise people by how it does nothing to help manufacturing is kind of like this game like the more we say it the more people maybe will believe us but its really not working because the markets are reacting to this and its not all will keep saying that exactly. The bank of england issued a press release Late Wednesday that it had identified an audio feed that has been misused by a 3rd Party Supplier to the bank to send audio fees of its press conferences to high speed traders who hope to profit by acting on the governors comments before the rest of the world characterized this as wholly unacceptable use of the auto feed without the banks knowledge or consent and this is being investigated further market analysts show that 5059 percent of occasions futures move ahead of the data in what proved to be the correct direction confirming that funds were trading on market moving information ahead of its scheduled release time while the banks of official video feed is managed by bloomberg this audio feed was meant to be used as a backup in case the video feed went down it was never intended to be used under normal circumstances but now its revealed that an unknown number of hedge funds used it as their primary source of information since audio is easier to compress than video hijacking a feed gave clients a 5 to 8 2nd head start on the markets resulting in countless profits for these High Frequency. And with more on the v. O. A. We welcome to larry for which board member of the British American business association. So right now isnt this basically a huge embarrassment for the bank of england because their very own system that was pretty much built to support a fair and efficient market is basically being abused right under their nose the fact that it went on for so long almost a year without them catching it isnt this just a huge mismanagement absolutely. Its gone asli i mean this is something that should never ever happen i mean the analogy is like a gay. You know something in the u. S. Youd Say Something like jeopardy where one contestant gets the questions beforehand 7 seconds may not sound like a lot of time but to these these High Frequency traders 7 seconds is a lifetime so its like getting the questions in advance on jeopardy or like donna brazil passing them to Hillary Clinton before the debate i mean it gives one entity an unfair advantage and like you said the futures have moved a line with them so thats the proof in the pudding that this has been disastrous and embarrassing indeed when you talk about well how much of a difference does the time make do you look at the profits that were made result of that brings up an interesting question though about who is actually a fault here because the below we are the bank of england itself was the corporate kind of leaking this information the High Frequency traders they were paying subscribers to the data they didnt have control over what was coming through the fee they had no real control of it they were just taking advantage of it right yes it was the deal with that actually paid for in installed this all in the 1st place so are they the ones who ultimately are here or do you also have to look at those High Frequency traders and say but you knew you werent supposed to have this information so you have a moral and ethical responsibility to not use it when you actually you sort of like you said you started out with but you really combine them because this is their business theyre in the business to make money its kind of like my knowledge in this case is like global tax evasion you know if youre abiding by the law and youre doing it legally then thats what youre doing so i think that they you cant blame somebody whos acting within the bounds because they just pay for something it may be morally and ethically but it wasnt criminally illegal so i think that something very different and distinct difference and then. What theyve done is theyve brought bragged on their twitter feed we can give you that name for mark carney the advances ahead of announcements so they actually were broadcasting this on twitter and they have since taken that feed down so i think theyre in might like the culprit but whats the point of investigating its much more important to prevent this from ever happening in the future but there is an investigation go. On as to see how much money was actually yes and this is going to be very difficult to track down because right now this is what im on the currency markets here where over 4. 00 trillion dollars get turned around every single day so this is what our data to dig through and right now do we expect to see a number do we know how much these High Frequency traders they profit were put it this way i dont know that anybodys ever going to figure that out i certainly would be able to i dont know anybody that can because it is so it is so complex it is so fast and also you could make you could allude to that profit was made because that future moved but how can you actually prove that it was due to that in those few seconds so i think its too fast too complex to technological for anyone to come up with a hard and fast ruling on it thats at least my prediction i think there will be lots of advocating for investigations i think there might be lots of lawyers involved who are going to make plenty of money on this but i bet in the end you wont be able to identify one particular culprit and in the end it almost becomes like a patriots cheating scandal right it becomes more rumor than. People feel about it more than it is people was one of the lane and its going to be like this absolutely so aside from that. Were talking about the that well be holding its Interest Rates 30. 75 percent to maintain this stance with the governor mark carney hes due to step down by the end of january but the Prime Minister of the brand new Prime Minister Boris Johnson has yet to officially name a successor and we have any inside speculation maybe youre 5 seconds ahead of everyone else on this what do you think spent so he of course this is in the works since april actually had to be delayed because when the general election was announced it actually was going to take place i believe before the end of the year is actually not going to hes not going to the new governor he or she wont be in place until february 1 because they have to push it back to the general election there are 3 major candidates in this and rather than do a rick perry on this i just i think i think i got my vote but new shuffle and she was actually the bank of england people might remember she was a deputy there many years ago she worked for carney had a very rocky relationship with him so what she did was she left to go and help head up the law. School of economics shes one of the contenders the 2nd one Andrew Bailey he is the chief director of the financial conduct all thora t. He actually that was involved in a number of scandals thats the only problem with him fiscal scandals although hes very popular across the board with the fiscal scandals with Neil Woodward the 3rd candidate interestingly enough is an american kevin walsh and you might remember his name because of course he was the governor of the Federal Reserve has the pros and cons with regard to kevin watch hes actually somewhat of a front runner but a few things number one mark carney of course being canadian left a little bit of a bad taste in peoples mouth in the u. K. Because sort of a foreigner pontificating and if you remember he was frightfully inaccurate and pessimistic about the results of that he was the one the predicted this 7 percent decline in g. D. P. And what is that was wrong so he was exactly he was inaccurate he was wrong he made dire predictions so i think theres a little bit about transatlantic you know do they know better than us so thats number one number 2 the good thing about him though is that he does have good relationships across the board a little bit more conservative than most englishman but interestingly enough when he was the governor of the Federal Reserve he helped both obama and bush navigate the fiscal crisis here in a way so he if theres anybody whos going to help the fallout from that it might be kevin walsh but stay tuned those are the 3 that ive sort of heard talk about actually you can read about as well that i definitely stated hello ok thank you so much thank you christie. Were going to start a blog chain of things has agreed to settle with the f. C. C. For 250000. 00 over launching their i c. E. O. Without 1st registering according to the f. C. C. The firm raised nearly 13000000 dollars during their initial corn offering in december of 2017 not a huge amount by any means this is the had warned the company that is token sales could be considered a Securities Offering because the as you see things everything is a Securities Offering under the agreement blog of things is agreed to refund investors who notify the firm that they want their money back blocks and if the. Has said that part of the i. C. A. O. Funding would develop a block chain based platform to allow 3rd Party Developers to build up locations for message transmission and logging digital acid generation and digital transfer b c o t was one of a slew of crypto start of launching i. C. s to raise money for their tokens at the end of that 2017 krypto boom the f. C. C. Insists that i c os are a form of security and therefore must be registered remember in september they ordered the maker block 1. 00 to pay 24000000. 00 in penalties for not registering with the commission in that case the Company Raised over 4000000000. 00 and i c. E. O. In may of 2018. Time now for a quick break but hang here because just on the other side of the break there has been another huge head start over at the company has been now been banned in germany why is this why right hang around the country and its not like one bring up to be allowed to get a break here the number at the. End of the school hoops it is an absolute. Sense of behavior that appears even in deaf and blind babies even if youve never heard or seen. If youll tickles by parents. And then we learn how to use this in a more complex way im one of the things that we use to have joined in would love to contagiously to love and somebody else loves even if you dont know what theyre laughing. I had a spiritual experience. And i had a little girl that died in the fire sent there collins. There. Were looking for a cure reaching. 54 years old and 21 years on good hard. Crime i didnt commit. I only knew that even though some of the red lines that nobody with this. Car was pretty much of for. Me or had im guilty or that. Nobody. Not. True to me hasnt forgiven him so for something. I knew she was in there and i knew exactly what i was doing. People a lot. Of the time theres no explanation. And Investment Bank Goldman Sachs is reportedly in talks with the u. S. Justice department to pay a 2000000000. 00 fine over a Corruption Scandal it will be the largest by levied by the government against a bank since the mortgage crisis legal journalism to deal with matters lawyer is here now with more. So welcome ali lets start off with why is this fine so large to begin with well basically the government is saying that thats how much billions work lost by a client of this take it or company that goldman raised 6 and a half 1000000000 for this Malaysian Company one m. T. B. Is the abbreviation for the name but its Malaysia Development b. H. P. And much of that the United States already say was stolen that 6 and a half 1000000000 was stolen by a malaysian government advisor as well as 2 goldman bankers and prosecutors say the bank ignored warning signs and this is part of the feet part of the price theyve got to pay for not doing a better job paying attention and saying what was going on in the henhouse if you will but they also said they were more interested in collecting fees from this particular client which eventually told about 600000000. 00 so in essence greed and so this big fine is a way to punish them for that you know every time we see a story like this and i think irritates people to a certain extent right because you have bad actors who are behaving badly and then the government comes to them and says youre clearly doing the wrong thing in many cases a criminal thing thats ok a fine and just give us some cash you will go away right does this mean the end of the corruption investigation just because youre forked over some money now it probably means are going to have to fork over a lot more money this may and fact and this particular criminal investigation for the United States but that doesnt mean that other u. S. Regulators wont look into it they may want to be a part of this settlement where they make what i have to create their own also malaysia is seeking their own investigation into this as well they also want billions of dollars from goldman to settle this so going to your point will it really changed fundamentally the behavior there are some other repercussions that they want to address the root cause of what made this happen in the 1st place but over and over and over again you just see these big hefty fines but these companies arent particularly changing the way they do business they just work that into their Business Plan it is worked into the Business Plan real quick and nobody goes to jail right and no one right gets fired for if you and i did that wed probably be in jail right but we were not paying back the billions of barrels so we know who comes government isnt suitable to give you the fine because. Making money and then the business as you said is built into their Business Plan is disgusting kind of cycle yeah it is and thats exactly whats going on in this situation so its probably not going to go away for Goldman Sachs anytime soon especially since they have a presence in multiple countries and in this case even though effected malaysia. Its going to affect other ways that theyre impacted by that investigation is that the companies will also be like other countries rather will be looking into this so it could continue on for some time are there going to be any other repercussions for United States<\/a> these exemptions will last for one year kicking off december 26th though Chinas Finance Ministry<\/a> as not provided a value for the imports excluded from those tariffs what we do know is that the waivers will apply to 4 Chemical Products<\/a> including Refined Oil Products<\/a> that include white oreo and food grade petroleum well meanwhile there has been a lot of talk about how this phase one agreement will be such a big win for workers that is the narrative that we on this show have been challenging in fact on the day that the u. S. Seems see a agreement was announced every other business show was praising this as a huge win for the u. S. But heres what we told you. So what is significant about the labor part of the deal wall mung other things this agreement requires that 75 percent of automobile components be manufactured in the United States<\/a> canada and mexico in order to avoid tariffs that number though was under nafta it was only 62. 5 percent so its really not much of a change the u. S. In ca also requires that 40 to 45 percent of automobile parts be made by workers who earn at least 16. 00 an hour by 2023 and by the way mexico has agreed to allow arbitration over labor disputes which is certainly a positive for workers in mexico but it doesnt really affect American Workers<\/a> the reality here the u. S. In ca is not bringing those jobs back its not going to bring manufacturing back to the United States<\/a> its not going to mean more money for American Workers<\/a> and brant its not going to mean lower Prescription Drug<\/a> prices for American Consumers<\/a> period. A week ago will thursday the United Auto Workers<\/a> president rory gamble issued a statement that echoes exactly what we told you then saying this quote the u. S. In ca is not a fix for the many problems created by the north American Free<\/a> trade agreement and other misguided tax and labor policies that have flourished for decades in our Nations Capital<\/a> and state houses throughout the country hundreds of thousands of us jobs that have gone to mexico since nafta came into being 25 years ago will not return because of us. One of the very interesting thing that all of us political theater actually boosted alive transpires right now their voters actually with him and its surprising that all this political theater is made out of absolutely nothing phase one trade deal is basically a non deal its basically just a truce rather than a reconciliation and this as you pointed out doesnt like fix anything and again its both House Democrats<\/a> fanning along with the president fanning success when weve done so much for workers when in fact theyve done nothing for workers in 25. 00. Years from now if the us is unchanged it will i think go down as a huge disappointment just like now because while nafta surprise people by have bed is hurt manufacturing the us will surprise people by how it does nothing to help manufacturing is kind of like this game like the more we say it the more people maybe will believe us but its really not working because the markets are reacting to this and its not all will keep saying that exactly. The bank of england issued a press release Late Wednesday<\/a> that it had identified an audio feed that has been misused by a 3rd Party Supplier<\/a> to the bank to send audio fees of its press conferences to high speed traders who hope to profit by acting on the governors comments before the rest of the world characterized this as wholly unacceptable use of the auto feed without the banks knowledge or consent and this is being investigated further market analysts show that 5059 percent of occasions futures move ahead of the data in what proved to be the correct direction confirming that funds were trading on market moving information ahead of its scheduled release time while the banks of official video feed is managed by bloomberg this audio feed was meant to be used as a backup in case the video feed went down it was never intended to be used under normal circumstances but now its revealed that an unknown number of hedge funds used it as their primary source of information since audio is easier to compress than video hijacking a feed gave clients a 5 to 8 2nd head start on the markets resulting in countless profits for these High Frequency<\/a>. And with more on the v. O. A. We welcome to larry for which board member of the British American<\/a> business association. So right now isnt this basically a huge embarrassment for the bank of england because their very own system that was pretty much built to support a fair and efficient market is basically being abused right under their nose the fact that it went on for so long almost a year without them catching it isnt this just a huge mismanagement absolutely. Its gone asli i mean this is something that should never ever happen i mean the analogy is like a gay. You know something in the u. S. Youd Say Something<\/a> like jeopardy where one contestant gets the questions beforehand 7 seconds may not sound like a lot of time but to these these High Frequency<\/a> traders 7 seconds is a lifetime so its like getting the questions in advance on jeopardy or like donna brazil passing them to Hillary Clinton<\/a> before the debate i mean it gives one entity an unfair advantage and like you said the futures have moved a line with them so thats the proof in the pudding that this has been disastrous and embarrassing indeed when you talk about well how much of a difference does the time make do you look at the profits that were made result of that brings up an interesting question though about who is actually a fault here because the below we are the bank of england itself was the corporate kind of leaking this information the High Frequency<\/a> traders they were paying subscribers to the data they didnt have control over what was coming through the fee they had no real control of it they were just taking advantage of it right yes it was the deal with that actually paid for in installed this all in the 1st place so are they the ones who ultimately are here or do you also have to look at those High Frequency<\/a> traders and say but you knew you werent supposed to have this information so you have a moral and ethical responsibility to not use it when you actually you sort of like you said you started out with but you really combine them because this is their business theyre in the business to make money its kind of like my knowledge in this case is like global tax evasion you know if youre abiding by the law and youre doing it legally then thats what youre doing so i think that they you cant blame somebody whos acting within the bounds because they just pay for something it may be morally and ethically but it wasnt criminally illegal so i think that something very different and distinct difference and then. What theyve done is theyve brought bragged on their twitter feed we can give you that name for mark carney the advances ahead of announcements so they actually were broadcasting this on twitter and they have since taken that feed down so i think theyre in might like the culprit but whats the point of investigating its much more important to prevent this from ever happening in the future but there is an investigation go. On as to see how much money was actually yes and this is going to be very difficult to track down because right now this is what im on the currency markets here where over 4. 00 trillion dollars get turned around every single day so this is what our data to dig through and right now do we expect to see a number do we know how much these High Frequency<\/a> traders they profit were put it this way i dont know that anybodys ever going to figure that out i certainly would be able to i dont know anybody that can because it is so it is so complex it is so fast and also you could make you could allude to that profit was made because that future moved but how can you actually prove that it was due to that in those few seconds so i think its too fast too complex to technological for anyone to come up with a hard and fast ruling on it thats at least my prediction i think there will be lots of advocating for investigations i think there might be lots of lawyers involved who are going to make plenty of money on this but i bet in the end you wont be able to identify one particular culprit and in the end it almost becomes like a patriots cheating scandal right it becomes more rumor than. People feel about it more than it is people was one of the lane and its going to be like this absolutely so aside from that. Were talking about the that well be holding its Interest Rates<\/a> 30. 75 percent to maintain this stance with the governor mark carney hes due to step down by the end of january but the Prime Minister<\/a> of the brand new Prime Minister<\/a> Boris Johnson<\/a> has yet to officially name a successor and we have any inside speculation maybe youre 5 seconds ahead of everyone else on this what do you think spent so he of course this is in the works since april actually had to be delayed because when the general election was announced it actually was going to take place i believe before the end of the year is actually not going to hes not going to the new governor he or she wont be in place until february 1 because they have to push it back to the general election there are 3 major candidates in this and rather than do a rick perry on this i just i think i think i got my vote but new shuffle and she was actually the bank of england people might remember she was a deputy there many years ago she worked for carney had a very rocky relationship with him so what she did was she left to go and help head up the law. School of economics shes one of the contenders the 2nd one Andrew Bailey<\/a> he is the chief director of the financial conduct all thora t. He actually that was involved in a number of scandals thats the only problem with him fiscal scandals although hes very popular across the board with the fiscal scandals with Neil Woodward<\/a> the 3rd candidate interestingly enough is an american kevin walsh and you might remember his name because of course he was the governor of the Federal Reserve<\/a> has the pros and cons with regard to kevin watch hes actually somewhat of a front runner but a few things number one mark carney of course being canadian left a little bit of a bad taste in peoples mouth in the u. K. Because sort of a foreigner pontificating and if you remember he was frightfully inaccurate and pessimistic about the results of that he was the one the predicted this 7 percent decline in g. D. P. And what is that was wrong so he was exactly he was inaccurate he was wrong he made dire predictions so i think theres a little bit about transatlantic you know do they know better than us so thats number one number 2 the good thing about him though is that he does have good relationships across the board a little bit more conservative than most englishman but interestingly enough when he was the governor of the Federal Reserve<\/a> he helped both obama and bush navigate the fiscal crisis here in a way so he if theres anybody whos going to help the fallout from that it might be kevin walsh but stay tuned those are the 3 that ive sort of heard talk about actually you can read about as well that i definitely stated hello ok thank you so much thank you christie. Were going to start a blog chain of things has agreed to settle with the f. C. C. For 250000. 00 over launching their i c. E. O. Without 1st registering according to the f. C. C. The firm raised nearly 13000000 dollars during their initial corn offering in december of 2017 not a huge amount by any means this is the had warned the company that is token sales could be considered a Securities Offering<\/a> because the as you see things everything is a Securities Offering<\/a> under the agreement blog of things is agreed to refund investors who notify the firm that they want their money back blocks and if the. Has said that part of the i. C. A. O. Funding would develop a block chain based platform to allow 3rd Party Developers<\/a> to build up locations for message transmission and logging digital acid generation and digital transfer b c o t was one of a slew of crypto start of launching i. C. s to raise money for their tokens at the end of that 2017 krypto boom the f. C. C. Insists that i c os are a form of security and therefore must be registered remember in september they ordered the maker block 1. 00 to pay 24000000. 00 in penalties for not registering with the commission in that case the Company Raised<\/a> over 4000000000. 00 and i c. E. O. In may of 2018. Time now for a quick break but hang here because just on the other side of the break there has been another huge head start over at the company has been now been banned in germany why is this why right hang around the country and its not like one bring up to be allowed to get a break here the number at the. End of the school hoops it is an absolute. Sense of behavior that appears even in deaf and blind babies even if youve never heard or seen. If youll tickles by parents. And then we learn how to use this in a more complex way im one of the things that we use to have joined in would love to contagiously to love and somebody else loves even if you dont know what theyre laughing. I had a spiritual experience. And i had a little girl that died in the fire sent there collins. There. Were looking for a cure reaching. 54 years old and 21 years on good hard. Crime i didnt commit. I only knew that even though some of the red lines that nobody with this. Car was pretty much of for. Me or had im guilty or that. Nobody. Not. True to me hasnt forgiven him so for something. I knew she was in there and i knew exactly what i was doing. People a lot. Of the time theres no explanation. And Investment Bank<\/a> Goldman Sachs<\/a> is reportedly in talks with the u. S. Justice department to pay a 2000000000. 00 fine over a Corruption Scandal<\/a> it will be the largest by levied by the government against a bank since the mortgage crisis legal journalism to deal with matters lawyer is here now with more. So welcome ali lets start off with why is this fine so large to begin with well basically the government is saying that thats how much billions work lost by a client of this take it or company that goldman raised 6 and a half 1000000000 for this Malaysian Company<\/a> one m. T. B. Is the abbreviation for the name but its Malaysia Development<\/a> b. H. P. And much of that the United States<\/a> already say was stolen that 6 and a half 1000000000 was stolen by a malaysian government advisor as well as 2 goldman bankers and prosecutors say the bank ignored warning signs and this is part of the feet part of the price theyve got to pay for not doing a better job paying attention and saying what was going on in the henhouse if you will but they also said they were more interested in collecting fees from this particular client which eventually told about 600000000. 00 so in essence greed and so this big fine is a way to punish them for that you know every time we see a story like this and i think irritates people to a certain extent right because you have bad actors who are behaving badly and then the government comes to them and says youre clearly doing the wrong thing in many cases a criminal thing thats ok a fine and just give us some cash you will go away right does this mean the end of the corruption investigation just because youre forked over some money now it probably means are going to have to fork over a lot more money this may and fact and this particular criminal investigation for the United States<\/a> but that doesnt mean that other u. S. Regulators wont look into it they may want to be a part of this settlement where they make what i have to create their own also malaysia is seeking their own investigation into this as well they also want billions of dollars from goldman to settle this so going to your point will it really changed fundamentally the behavior there are some other repercussions that they want to address the root cause of what made this happen in the 1st place but over and over and over again you just see these big hefty fines but these companies arent particularly changing the way they do business they just work that into their Business Plan<\/a> it is worked into the Business Plan<\/a> real quick and nobody goes to jail right and no one right gets fired for if you and i did that wed probably be in jail right but we were not paying back the billions of barrels so we know who comes government isnt suitable to give you the fine because. Making money and then the business as you said is built into their Business Plan<\/a> is disgusting kind of cycle yeah it is and thats exactly whats going on in this situation so its probably not going to go away for Goldman Sachs<\/a> anytime soon especially since they have a presence in multiple countries and in this case even though effected malaysia. Its going to affect other ways that theyre impacted by that investigation is that the companies will also be like other countries rather will be looking into this so it could continue on for some time are there going to be any other repercussions for Goldman Sachs<\/a> is this going to impact their reputation at all yes were actually going to their stock to take a little bit of a hit when this Corruption Scandal<\/a> 1st broke so there was there incentivized to make it go away as quickly as possible as part of this deal thats allegedly being discussed aside from the the 2000000000. 00 fine theyre supposed to do some changes in how theyre going to supposedly have to hire a monitor to oversee and recommend these changes and also make sure that any changes that are made to actually comply with so talks are continuing if they do reach a deal it could be as early as next year pretty clear that since 2008 reputation has not been a high. Priority while the girls of americas lawyer thanks so much for you. Call big win for air b. And b. Is the company has won a legal fight to remain exempt from european property regulations and thats things to a ruling from the top court that. Is an Online Platform<\/a> and not a Property Agent<\/a> so the case is especially significant as the International Olympic<\/a> committee as weve told you has agreed to promote the company in exchange for accommodation during the 2024 olympics in paris where judges accepted their b. And b. s argument that it is an Online Platform<\/a> and also faulted france for not notifying the new of the requirement for air b. N. B. To hold in the professional license. Break for now losing its license to carry passengers in london last week and today another setback in germany germany courts have banned over and germany arguing that it does not have the necessary license to offer Passenger Transport<\/a> service using. Rental cars this is a big setback as its currently active in 7 cities in germany and in 2015 germany courts for bait over from matching up drivers using their own cars to pick up customers well thats why we were found another way around that by having drivers rent out cars to pick up customers but now it seems like thats coming to an end as well as germany has buttoned up its ruling over responded saying that it will assess and determine the next steps in order to ensure that services in germany will continue over is still down and trading below its i. P. O. Price today. And with more on the state of markets around the world reacting to this weeks slew of non news news we bring in. Simpler trading so we currently we have the s. M. P. Today rising yet again reaching over 3200 for the 1st time so whats driving this rally on the Economic Data<\/a> front manufacturing has experienced a huge downturn transportation sector is getting pummeled oil and gas are weakening is this just a catch up probably at the end of the year as a lot of the uncertainty on the table has now been lifted. You are correct that a lot of certainty has been lifted i mean the trade talks to kind of calm down a bit we have reached a phase one deal you know based on just news and how that is but really there are 2 key components that im looking at number one since january the fed has reduced its return around its Interest Rates<\/a> you know theyve been going down since then and really the biggest one that weve seen is that theyre actually starting to increase their fed book theyre actually starting to buy purchase. Funds and all that and so they dont want to call it q. E. But really its kind of q. E. And thats whats really kind of driving the market recently but weve been seeing this rally since the beginning of 2019 so a lot of booze has been contributed by the queues in recent days but this is a pretty interesting story here u. S. Heavyweight broadcom theyre looking to sell their radio frequency wireless chip business pretty soon its generated 2200000000 in revenue fiscal year 2019 the most likely buyer though here. Is apple which uses this chip in its phone so what can you tell us about this and why is apple interested now in building its own inhouse modem business. Right well this r. F. Device the company that the broadcom is going to be looking to sell is primarily used for filtering for the 5 g. Network and we know that 5 g. Is really going to be a big thing in the future and so really looks like apple is going to be the likely buyer of this because well they have a vested interest in this with 5 g. With cell phones and vertical integration i mean we see that vertical integration for Big Companies<\/a> is really important because it helps lower costs just as weve seen with amazon trying to vertically integrate their shipping services as well and so thats what were looking at and i think that it makes a logical step and for whatever reason broadcom want to get out of it maybe just spend it off. Now lets move over to sweden real quick because today they actually ended their 5 year experiment with negative Interest Rates<\/a> so why did they decide to raise rates now despite a pretty weak economy thats still going on over there. Well you said in the question its been an experiment in fact nobody really thought that governments or that we could have negative Interest Rates<\/a> until 2008 when we went there the world didnt end with things didnt totally fall apart but its been several years since then and it hasnt really been all that its cracked up to be it has been punishing savers and investors people that want to look for some safe places to put their money and really when we look at bonds government bonds and they are now negative Interest Rates<\/a> thats not helping a lot of people out there and the biggest thing that the swedes and a lot of the other people out there have been looking at trying to stave off is deflation and the fact that inflation is still doing pretty well theres a need to get kind of back to normalcy we need to get back to at least as 0 or positive Interest Rate<\/a> because this is really been an experiment and it hasnt really been all that its cracked up to be and people dont know what to do with it its been hard to explain what a negative Interest Rate<\/a> even is when it comes to bonds and putting money away other than theft its hard to describe what a negative Interest Rate<\/a> is right now 21000. 00 kind of a crazy year weve seen these all time highs the risk of the Downside Seems<\/a> greater than ever so how should investors be positioned now if they dont want to lose out on market exposure but also protect their gains from this year because theres no telling whether or not 2020 is going to be a repeat of what weve seen in 21000. Thats true we dont know what the future holds but one thing i would tell or traders people who subscribe to us is that things that stay in motion tend to stay in motion and the stock market is a is a big thing that stays in motion and if the markets going to roll over and start to change direction were going to see that we saw that going into 2000. To the end of 2018 october November December<\/a> i mean there were a lot of things that we could see ahead of that so looking at new highs we should really kind of be more excited about that anything and if we were trying to figure out how to actually tell people what to do i say buy the dip if you dont know what that means come check us out and simply trading the other thing is that i like to diversify if were looking at maybe you should look at gold ive been talking about that for quite some time i think gold look like looks like it wants to start picking up so kind of diversify your portfolio a little bit and maybe dont be in super risky situations with tech stocks or other ones that are highly volatile and just kind of make sure youre properly allocated now we dont know whats going to happen in 2020 but we can glean some clues from the market as it is right now right now we had the yield curve stephen into its most steepest point in over 18 months so given this historically since 960. 00 s. This has meant that theres going to be tremendous volatility in the equities market so do you expect well be seeing a lot of that because this entire year has been very complacent passive investing thanks to all of the e. T. F. It has been good investing but theres still been a lot of volatility within that i mean there have been numerous periods of time and im thinking of 3 at least that lasted a month or so to where there was a lot of volatility and people were out there trying to figure out well is this the end of the rally is this the end is this the top so thats the one thing we can always count on in the market is volatility and so despite the yield curve and all that we as traders are going to say well volatility is good because thats how we make money we want the market to move and we just need to know which way its going to be moving and thats what we try and help people out there to do walk ins of simply trying thank you so much for being. Well forget about the problems with the 737 max jet because boeing is set to launch its new star liner spacecraft on its for. 1st flight into orbit what could possibly go wrong they have this 5 rocket set to launch to the International Space<\/a> station from florida carrying a spacecraft that is never flown before again i ask you what could possibly go wrong the c. S. T. 100. 00 starliner its a new passenger capsule developed by boeing to take crews of up to 7 people to low earth orbit now you know what could go wrong but no people will be on board for this Mission Failed<\/a> what is intended to pave the way for the 1st writers to fly on that capsule sometime next year not fear necessarily to pick on boeing because of the fact that they have jets that just fall out of the sky but do you want to be one of the 1st 7 people to get on board now their space craft its crazy because people are paying to be a passenger in this spacecraft when you couldnt pay me enough money to get on board want to get on board let them run through a few tests on crash dummies and maybe maybe they want you to write one thats right thats it by this time you can catch. Me 21 deaths now i counted 80. 47 on the t. V. The p. T. B. At county 79 or as always you can hit us up at youtube dot com slash boom bust the see about here in the. Well it finally happened donald trump has been impeached by the house of representatives in complete opposition to what the founders city vision the articles voted on were along party lines it is highly unlikely the senate will vote to remove the president from office so what is the point of this entire exercise. Seem wrong. With just. I mean the world to get to shape out these days to come out to it and in again trade because betrayal. When so many find themselves worlds apart we choose to look for common ground. During the Great Depression<\/a> which old mr remember there was most of the family were poor working class there wasnt it was bed you know much worse objectively today but there was an expectation that things were going to get better. There was a real sense of hopefulness there isnt today todays america where shape by the 10 principles of concentration of wealth and power. Reduced democracy attack solo down engineer elections manufacture consent and other principles according to no on chomsky one set of rules for the rich opposite. Thats what happens when you put her into the hands of a narrow sector of will switch rule is dedicated to increasing power for chills just as youd expect one of the most influential intellectuals of our time speaks about the modern civilization of america. One person is killed and 5 are injured in a shooting near the federal Security Service<\/a> building and central moscow witnesses describe the attack. At 5 or 10 minutes past 6 the gunfire began and it was not just a few shots that came in bursts we saw officers taking cover behind the cars. Also this hour and a last minute attempt to disrupt russian gas supplies to europe u. S. Senators have warned a Swift Company<\/a> about crippling sanctions will be putting it out of business if it doesnt stop working on the almost completed nordstrom to pipeline","publisher":{"@type":"Organization","name":"archive.org","logo":{"@type":"ImageObject","width":"800","height":"600","url":"\/\/ia903106.us.archive.org\/27\/items\/RT_20191220_103000_Boom_Bust\/RT_20191220_103000_Boom_Bust.thumbs\/RT_20191220_103000_Boom_Bust_000001.jpg"}},"autauthor":{"@type":"Organization"},"author":{"sameAs":"archive.org","name":"archive.org"}}],"coverageEndTime":"20240716T12:35:10+00:00"}