Transcripts For RT Boom Bust 20240712 : vimarsana.com

Transcripts For RT Boom Bust 20240712

In reopening europes 3rd largest economy british Prime Minister Boris Johnson announced the loosening of coronavirus restrictions within the u. K. On tuesday speak i can tell the house. That we would all say. Restrooms and props here. Will be limited to Table Service and dog ill use would encourage minimalist off and Customer Contact close proximity venues such as. My cars. Soft play areas. Swimming pools and spawns who im afraid need to remain closed for. The Prime Minister also mentioned hairdressers in the country will be able to return to work as well all of this will take place starting on july 4th johnson also spoke about continuing measures to mitigate the spread of the virus. To stay in control of virus and save lives lets keep. Staying to me just going to feasible. The recent one me to where not avoiding public transport where possible where you mosque when you have to use public transport. Immediately if you have symptoms so why slate constructed to do so by any chance to some trace. Meanwhile here in the United States the nations top Infectious Disease specialist dr anthony testified in front of Congress Tuesday and said while we are seeing a lower number of cases in areas like new york he is seeing a disturbing trend in other portions of the nation. In other areas of the country were now seeing a disturbing surge of infections that looks like its a combination but one of the things is an increase in Community Spread we were going down from 30225220 now we sort of stayed about flat and now were going up a couple of days ago that was 30000 new infections thats very troublesome to me right now the next couple of weeks are going to be critical in our ability to address those surgeons that were seeing in florida in texas in arizona and in other states theyre not the only ones that are having a difficulty bottom line is the chairman its a mixed bag. And theres concerns about another surge in cases in the u. S. Continue lets take a global look at the spread of the virus with our t. Correspondent sorry to have it or so lets start in the u. S. Where are we right now branson nearly half of the states in the u. S. Are reporting a rise in new cases and some continued to see break records from their previous speaks and behind the scenes officials are scrambling to execute a new proposed plan titled Strategic National stockpile informally called s. And as 2. 0 and thats there were stock supplies like ventilators and 95 and other hospital supplies before states good or well with new cases but taking a look at the numbers right here the u. S. Is currently seeing a 25 percent increase in new cases compared to the previous week now this map shows where the number of new cases is rising and where its falling in the last 14 days so the more red you see the more the wide spread of the virus now texas has reported one of the largest rises in new cases thats an increase they actually saw an increase of 87 percent from last week with the states positive test rate nearly doubling. To 11 percent and now florida is also up about 88 percent last week and there are positive test rate is doubling to 11 percent as well i mean look at all this red thats happening right now in florida which really shows how the virus is spreading and arizona is seeing a 90 percent increase with 20 percent of test coming back positive but brand unlike in the early days of the pandemic its not so simple to say that its just a big cities being hit the hardest because for example in tennessee in trials bill county which has about 7800. 00 residents close to 1500. 00 of those residents have the right areas and many of them are inmates at a state prison and another great example is a Nobles County in minnesota or up here where right now has one of the highest infection rates in the country that actually started at a meat packing plant and ministration now claims that the rise in cases is due to a lot more testing but Health Experts argue that the number should actually go down with greater testing because theoretically should be able to trace to cases and slow this part of the virus brant what about the rest of the world where we see surges elsewhere around the globe. So right now brazil has the worlds 2nd highest infection rate and president wilson their decision to impose a lockdown has nearly has been widely criticized now he even continues to disagree with advice from his own Health Ministry arguing that the Economic Impact of a lockdown would be a lot more detrimental than the actual virus itself and you know he keeps repeating the same message that brazil cannot stop the economy should reopen and that the country needs to return to normal but there is really no normal when there are more than 50000 people dead and brazils Federal District government has also gone as far as fining president also an error if he refuses to or mask in public which he continues to defy and then russia has the 3rd highest cases of the virus in the world and today russian president Vladimir Putin proposed a plan in raising taxes for the upper middle class from 13 percent to 15 percent to help cover of the cause brought on by the virus now meanwhile india has about 15000 new infections each day and this is very dangerous for a country of population of 1300000000 people who are most live in a very Unequal Society where private hospitals pretty much only cater to the rich and then we have neighboring pakistan thats not doing any better where the government is determined to keep the economy open even as overcrowded hospitals are turning away patients and i want to go quickly over to the middle east where saudi arabia is overtaking iran in new cases and has one of the highest infection rates right now in the middle east and for the 1st time ever saudi arabia is placing limitations on the annual hodge pilgrimage but critics are. That the program that should actually be canceled altogether and not just have limitations but you know canceling a pilgrimage would just add another economic blow i guess you can say to the king of them which is suffering of course from record low oil prices and brenda telegram had to bring is around 6000000000. 00 to the saudi economy and chair r t correspondent science editor thank you so much for keeping us up to date. And despite all of these concerns over the spread of the virus markets are in the green tuesday with the nasdaq continuing record highs while tensions between the u. S. And china remain in question so lets take a look at whats going on with boom bust christiane and Todd Horowitz chief strategist at bubba trading thank you both for joining us so much all right. You know we get along very well friends even i would say but you sent me an email this morning you said markets are closing lower what happened why didnt it happen that it. Well i mean they came up to honor from the highs but look they didnt make it that far they they tried to make a late run they tried to make the right at the end of the day the medicine the markets are a little bit overdone here i mean theres you know you want to call it a bubble ill call it a bubble but we problem is you dont know when the bubble is going to pop ok but ill call this a bubble now i think again youve got more stimulus and stimulus is not create jobs same is not create you know com companies theres still record numbers of Companies Going out of business every day until this country gets spread open again so again i dont think the markets look very good here but im certainly not going to step in front of them except you know in the day to day trading basis but overall look you cannot continue to go straight up without a real economy behind it and weve got our news coming next week theres a lot of headwinds there to be showing that weve gotten far too excited to where we are right now and watching stocks like apple amazon and google drive the. Markets higher when the rest of the underlying markets are much weaker than that so i guess i would not be surprised if we didnt make it lower i didnt i was not right i was incorrect but at the end of the day its im certainly not going to be upset that they did solve 200 from i told you because ill take the profits kristie no i wouldnt move to that other point that i made there china u. S. Trade relations have reached their lowest point in years and now we have comments from navarro speaking the markets further what does the outlook between the 2 nations actually look like at this point. All right now theres just as tremendous mistrust between the 2 superpowers because by now youve had the trade war that lasted more than 2 years youve heaped over 370000000000. 00 in tariffs on chinese products youve whipsaw the entire Financial Markets and dented Global Growth on top of that and now you just add on top coronavirus which china is claiming this is actually should should be able to rule out phase one because its unexpected headlines but as that is it is that china and new us are so codependent on each other like a bad relationship that no matter what they can decouple so no models comments were completely unwarranted saying that means one is dead because by then trump immediately retreated that relations were still strong and still going because the u. S. Can do without trade with china china has proven that they are the manufacturing hub of the wall Global Growth does depend on china so as bad as the relationship is and as strange as it is and as much as maybe the u. S. Wants to decouple from china and become less reliant on china at this point it seems impossible to kristis point is there actually any real possibility of decoupling a decoupling between the u. S. And china at this point. I think theres a higher probability i think its more than 5050 that we did couple from china i think that you know weve got too much going on which i think we dont need china china needs us that lets be very clear we are there are food source and without us they dont make enough food they cannot feed their people we can manufacture here it may be slightly more. Spends of but we can do everything here that they do there the only reason we moved was for dollars but again if it comes down to it we are very selfsustaining weve got the best food in the world weve got enough around energy we can have factories we can do can manufacture so i think theres a much higher probability other china knows that which is why there are still negotiations going on because at the end of the day they need our food more than anything else they can threaten that theyre not going to buy they could make they can try to buy from brazil they can drive margins you know but at the end of the day we are the number one source and without us theyre going to have a lot of trouble we can survive easily without them you know kristie i want to move kind of back to what weve seen with markets like one of the biggest drivers of the rally today was obviously apple in its annual debbie to be d. C. Unveiling now it confirmed that its moving away from intel processors and using its own chips now is that an actual realistic move and how long is that translation going to take transitions but its not its going to be a very realistic no they actually just announce that they are transitioning to silicon its going to take about 2 years for apple to full in migrate around transition over and this is supposed to be a more powerful more Energy Efficient and have security battery life and the 1st silicon systems are likely to shift out later this year but this is also likely in a deal to intel because apple is said to account tween 2 to 4 percent of intels and all sales so losing out wont necessarily be devastating but it was definitely hurt especially in this Current Business environment where you really cant afford to lose anyone. You actually talked about this just a little bit earlier here where you said that apple and amazon they cant keep moving forward so i mean and that this bubble maybe not is going to burst but that the momentum is not going to move forward so what are we going to see in the coming weeks here. Well i mean this is hard as it is here the coming weeks i mean this is certainly amazon is gathering great benefit from the Current Situation there getting more sales right because people are going out there buying on amazon. Xoom is still doing very well thats another big stock thats been running like crazy but youre going to start to see some of the money slow down i mean you know people will not have enough now of course as long as the the fed can do to stimulate with with that with liquidity and took all the restrictions of a banks you know this is smart people are borrowing money and investing it but i think youll see the market start to slow and will start to consolidate a little bit and overall other than the nasdaq the dollar the s. And p. And the russell are not anywhere near as strong and in fact you could make a case that theyre making a top here and could have lower which by itself helped drag the nasdaq lower you cannot have 4 or 5 stocks it drive the entire economy on a regular basis and i think eventually it will and again it could be tomorrow it could be in a couple weeks but shortly here well see you know very similar hours residue as we saw in the ninetys and into 2000 you had those great big blogs at the end of that big rally in Baba Horowitz and boom bust cohost christine thank you so much for that expert analysis. Time now for a quick break but here because when we return new fans are facing turbulence in the midst of bailout talks with the German Government well bring you the latest from the ground in berlin and as we go to break here are the numbers at the close. Its fair to say many of the protesters on the streets of america want social justice nominally speaking thats a positive message the problem is how about the message is translated into concrete political demands and what happens if you dont agree with those political demands. For good and you. Want to. Make that on the. Missile that this isnt just. Move. You out youll still be stuck or you must put your knee. Above should. Chill the. Compassion that. We think he minds be. Soldier the boot shes wearing. So so looks like to move the opposing opinion with. The. Youre stuck with summarizing the place for just send us all that. You cannot be lonely with the yeah you like. Welcome back as the travel industry continues to be decimated by the pandemic a bail out for germanys Largest Airline remains up in the air r. T. Correspondent peter oliver is in berlin and filed this report. Bill of tons of bailout saga continues to roll on like 747 passing right over your head no agreement so far on the job cut package that is being put on the table for the german flag carrying airline thursday is the crunch date thats when shareholders will be voting on whether to accept the german state taking a 20 percent share novel of tons or an exchange for around 9000000000. 00 euros to around 10000000000 dollars of much needed cash for. Talks on redundancy packages were ongoing with the pilots union and the union that represents cabin crew with the airline no agreement has been reached so far we understand those talks will continue right up until the vote takes place on thursday if theres no agreement before then what will happen though is if they agree to that job could package then it could well be a step towards the german state taking a 20 percent share of love tons at not so fast though other bits of turbulence if you will in this deal reaching its final destination heinz till one of. Major shareholders he owns 15. 5 percent of the corporation he says hes not entirely happy about the german state taking 2 seats on love chances Supervisory Board thats part of the deal thats been put forward by the German Government he was locked in talks on monday with the german finance minister and the minister for the economy no solution has been found there what could happen. Then with regards the tale is that when it comes to the votes on thursday he could well either a veto the whole which would mean the ascension the deal could be all feet could abstain from the vote or he could well pursue legal action after the fact 22000 jobs remember. On the chopping block isnt the only scandalous facing this deal a there if you were cast your minds back in the year i was talking about the union that represents cabin crew here in germany and their stake in these negotiations they had the u f o they called well the head of that union sis is reportedly according to media here asking for 1000000 euros otherwise hes not going to support the bailout deal he says that this 1000000 is for legal costs tangible losses it isnt going down well in the public especially with considering how many jobs as i said risk ultimately what were seeing though is the future of one of aviations most recognizable brands turning into something of a soap opera peter all of a for most here in berlin. And a growing list of companies are temporarily boycotting advertising on facebook they say to combat the companys failure to stop hate speech in this information that list of companies continues to grow with brands like north face patagonia up work in r. E. I. Saying they will pause advertising on facebook and instagram to show support for a movement called hashtags stop hate for profit the groups say the boycott is in response to facebooks long history of allowing racist violent and verifiably false content to run rampant on its platform joining us now to discuss cohost investigative journalist. Bet i feel like we put you on the facebook be quite often but youre so darn good at what we do here now this boycott is clearly not being started by advertisers so who is. Is behind it yes so its actually a kind of a coalition of groups were talking about the end of a c. P. The Antidefamation League but maybe 2 of the more famous and then you have some smaller groups are not not as well known but this is what they primarily do they focus on trying to drive advertisers away from content that they dont approve of were talking about groups like sleeping giants color of change free

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