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tv   Boom Bust  RT  November 21, 2020 1:30am-2:00am EST

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hope one, you won't forget many thanks for joining us here on r.t. international best. saturday. we're back in 30 minutes with the latest headlines. join me every thursday on the elec so i will be sure that i'll be speaking to get us to the world of politics or business. i'm sure both of those
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this is the one business show you can't afford to miss unser montecito going to washington coming out as promised, pfizer has submitted its emergency use application for to take over 19 vaccines to the food and drug administration. a process that could start in limited 1st shots as early as next month, and u.s. treasury secretary stephen, when he announced cut off for the federal reserve's lending program and hopes to restart stimulus talks, and hopefully will resume negotiations. we have to see, i think by have a lot to get through. thoughts get started. pharmaceutical giant pfizer is filing for emergency authorization of its crown of arsenic seen in the united states. the company is one of many working to fight the spread of cove 19. and as alex mohill of its report says, it is one of a few front runners that may help and the pandemic. the bottles are full and ready to go. once given the green light, pfizer says that it could start shipping out its coronavirus vaccine within a couple of hours. if the value we haven't already produced,
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more than 20000000 doses, even our warehouses and to continue as a state producing more and more the company promises to have 50000000 doses ready for distribution by the end of this year. and estimates that it will produce 1300000000 doses of the vaccine by the end of 2021. however, there is one major hurdle standing in the way that government approval in the u.s. . that means getting the thumbs up from the food and drug administration and considering the fact that the vaccine is relatively new and has not had the time to pass the usual scrutiny. pfizer and its german partner beyond tech are asking for emergency approval to get it out there fast. emergency use authorization or new way is much different. standard only requires that a product may be a factor and that f.d.a. performs an assessment in emergency of the available data and sounds well, we think it's not in contention, benefits outweigh the non-contentious, the f.d.a.
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has emergency use of authorization is intended for public health emergencies. arguably, such as the corona virus, according to the us government approval of the vaccine is expected in the 1st half of december, and advance trial which involved 41000 people worldwide showed that the pfizer beyond tech vaccine protects 94 percent of adults over 65, with some reporting minor side effects, other stats showed as 90 percent effective. either way, a good place to be with the front runners in the copen 1000 vaccine race, such as moderna and rochelle. sputnik be created by the gamma layer center. but there are no claims that it's covert 1000 vaccine is 95 percent effective. while recent studies show that sputnik v. is 92 percent effective, vizor hopes to follow in the footsteps of drug maker eli lilly, which was granted emergency use authorization for a drug that has the potential to reduce recovery time for those infected with the coronavirus. as for covert 1000 vaccines tests it all,
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one big question remains. that is, how long do the vaccines remain effective? is that a shot in the arm for life, or does it lose its coronavirus fighting power after just a few weeks or months? the challenge is going to be that gain, it may only be, you know, 2 to 4 months of experience. so we're not going to know that your introduction, although most employers hints of perth in a relatively short period that it wants nation. we move have got long full on safety. as it stands, recipients of the pfizer vaccine will need 2 doses taken 3 weeks apart. the u.k. has preordered $40000000.00 doses and hopes to receive $10000000.00 by the end of this year. the european union is looking at authorizing the pfizer, as well as the moderna anti corona virus vaccines for conditional marketing by the end of december as well. it is likely that the initial doses will be distributed to 1st responders and people in high risk groups for boom bust. i'm alex,
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mileage from our we welcome contributor to america's lawyer, molly barrows? molly, good to see you. we just heard of alex's piece that the vaccine could be available to frontline workers as early as december. that's what we're talking that weeks away. what about the general public? there's some talk that maybe by next year meant to late next year. yes, so like you said, and alex's report as well as those 1st responders that are going to get the 1st doses that arrive in, pfizer says they're well on their way if the f.d.a. approves that to providing that. so as soon as i think that those 1st responders get their doses in, they're going to start moving towards the public. so hopefully as early as the beginning of next year, we may see the public start to receive some of those doses as well. and again, there's a number of that scene's lining up waiting to get on the market that they say they're in the final stages of testing. pfizer is in the lead right now. you've got madonna coming up close behind that you've also got astra, zeneca and johnson. and johnson close behind. so there's a few differences between some of these vaccines,
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but hopefully the public at large will also be able to take advantage of these millions of doses that are on standby once the f.d.a. approves them. well, with the upcoming holidays is going to slow the process. how long will it be before the f.d.a. actually review the documents? approve them and then the steps going forward from there. right. i know,, and it seems like it's so subjective sometimes with the f.d.a., but, you know, we have the cases that are getting worse than ever. the numbers are climbing continually. you have new york which shut down public schools. and of course, we're seeing increased hospitalizations around the country, so the f.d.a. knows that this needs to happen, that finding an effective vaccine that the public is actually willing to use is an important part of controlling the coronavirus epidemic in the pandemic of coban $1000.00. so there's a committee that is reportedly going to meet sometime around the 1st before the 2nd week of december. and depending on what comes out of that advisory committee, you could see f.d.a. approval as you know, like what alex said earlier as mid december, possibly late december. and then you've got other vaccines that are lining up also in late stage approval for testing if you will. and they're going to be wanting to
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line up and get that f.d.a. approval right after pfizer does as well. if it does happen. and a lot of companies, much like you been mentioning, you're mentioning that there are competing to develop a vaccine right now, really is one favored over another. we did see a recent gallup poll that showed the efficacy did. or at least because the focus you did increase her to over 90 percent, even though it's a new technology. still people wanting to go and get the vaccine or volunteer to actually have the vaccine given to them. it only went up by 8 percent and only 50 percent of americans are willing to line up and get it. i know that's so interesting, isn't it? and i think it's because this is also new though. they don't really know that, you know, there's this perception that this vaccine is being rushed if you will. i think people do want to effect of that same, but who wants to be the guinea pig? right. so god bless those 1st responders that are going to get the 1st, those, those frontline workers rather that are those 1st doses. but, you know, i think what i've heard from some analysts, whether it's financial perspective or,
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or just from a public demand perspective, johnson and johnson, even though they're in late stage testing their, you know, their vaccine may not be approved for a little while after the others. but there's some speculation that once it's out that it may surpass as far as demand goes, because it differs from the other 3 vaccines by astra zeneca, pfizer, moderna, they requiring 2 doses, ultra cold storage, a couple of other hurdles to jump over waiting. you know those 2 doses, there's weeks in between the 1st dose and the 2nd. so people might be reluctant to go back for that 2nd one. maybe they forget, maybe they're unable to those ultra cold storage requirements. but the johnson and johnson one doesn't have those ultra cold storage requirements and they only have one dose. so that could affect cost. that could also affect whether or not people are willing to actually get the vaccine. so you're right, it'll be interesting to see which, you know, pending f.d.a. approval on all these vaccines once they are all out, hopefully effective. which one will actually be more popular and what they will actually get the public to use. and if you'll have the option of doing so much,
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like you said, johnson and johnson is only having one dose that might make it easier on the general public. and we'll see how many actually line up to get the vaccine contributed to america's lawyer. molly barrows? thank you for joining us today. thank you, sarah. by positive covert 1000 vaccine news. global markets are mixed this week with recent surges in coated 1000 cases. let's start in russia where the mo x. is down for the week. on friday, the country reported a record of more than $24000.00 covert $1000.00 cases. russia central bank said the economy will contract by 4 percent this year. that's up from previous 5 percent estimates in asian markets. the shanghai composite is in the green this week. it's up to nearly a half percent on friday. lending rates remained steady for the 7th straight month, materials and industrial sectors. they closed out the week up 2 and one percent
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respectively. in hong kong, the hong saying is also up. it gained 10 percent so far in the month of november and even hit its highest point since march. the rally did however, come to an an over these surge of covert $1000.00 cases in japan. the nikkei is in the red. the index fell the last 3 days after hitting 29 year highs on tuesday. japan had a daily record of new coven $1000.00 cases. it fueled off the sell off. in india, the sensex, we're seeing a green arrow for the 3rd straight week up one percent with some record highs. new global restrictions are affecting investor sentiment. in australia, the a.s.x. is in the green, gaining more than 2 percent for the week. gold stocks did lose about 6 percent in the country. the all shares in south africa are in the red. the index fell just under one percent over the week. bank stocks dropped over the final 2 sessions. mining also took a slight hit close. let's move over to europe,
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where we start in london. the footsie is up this week despite concerns over ongoing brags that talks or energy and pharmaceuticals had significant gains and a weakening pound. sterling also pushed up shares in export. meanwhile, the french cock is in the green and the german, the german dax is down. french officials have called on big retailers to postpone black friday deals in the country as lock downs have shuttered. small businesses in germany said that the latest virus surge puts the economy at risk of stagnation or even contracting the evo best buy in brazil is up for the week. the country's economy minister says g.d.p. could top 4 percent in 2020 and that the government should pass economic reforms to deal with the virus impact just north in mexico, the b m b is up for the week. the index has been relatively steady since last week
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when the central bank said it would pause, cutting its rates to 0 to really assess inflation. america to gain more than 3 percent on the week while for mental economic. oh, my god, i saw nearly 15 percent increase here in the united states. the dow and the s. and p. are down for the week while that tech heavy nasdaq is up surging. kovan $1000.00 cases are really affecting markets. despite treasury. secretary stephen mayne, restarting stimulus talks. the move to cut fed funding is really hurting sentiment . finally, we're going to finish off in canada where the ts x. is up for the week. but that surge in coburn 1000 cases. oil stocks fall at the end of the week. in the coming weeks, we are going to continue to closely monitor stimulus measures. case numbers and even vaccine related developments that is your global market walk.
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us treasury secretary steven chu, chin is getting some heat after announcing plans to end some emergency fed funds, but nugent defended his decision to end these crisis lending tools in an interview with c. and b. . c. newton said it. we said these are emergency tools and when the emergency is over, let's put them away. he also said he plans to continue stimulus talks and negotiations with democrats in the coming weeks. for more on this, we're joined by bill frist christie, treasury secretary, will essentially allow several of these emergency lending programs to expire on december 31st. what does this mean for businesses? well basically the biggest loser in all of this is going to be the mid-size businesses had that have just begun taking out loans in the mainstream, many facilities. so the terms of the facility had recently been amended to allow for smaller about $100000.00. but now it will likely be close to new lending in
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just a couple short weeks. so this will dramatically reduce the central banks in philly to backstop the financial system. and basically try are only really on main street . so this is priced terminations by the feds emerged in the program and many argue that this is very premature. it basically ties the hands of the incoming administration and closes the door on very important liquidity options for businesses at a time when they really do need it. most so pretty much all the time, the financial conditions and remove the safety net from the markets at the wrong time when teachers are piling up, when things are getting much worse in the 2nd wave, so many gen or a new treasury secretary under the white, it could potentially decide to revive the emergency run program under a new agreement with that. but obviously this is an optimal as there will be time restate, reinstating something that was originally there, right? and there will likely be some shots to, i mean, just system to restarting these programs. well, christine, let me ask you this. when you joined was defending his move as well. you're saying,
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he said markets weren't ready for this. but he's saying, and many are saying that it could be almost a charitable move because they don't want to give these big businesses the money that was set aside for that. instead, they want to help the smaller businesses or even like the airlines that need the help. is that right? no, i mean, it's not right. it's actually more of a political move actually, because republicans had earlier indicated that they were worried that the municipal lending facility and the mainstream money programs, what you just said, the programs that were dedicated toward small business is that they could be used by democrats in order to pass congress different publicans weren't blocked additional federal government or to local governments and small, medium sized businesses. so rather than looking out for market interest as the wall are sent to do, nation actions where more so relate to politics. and moreover, as i just mentioned, this means that the new guy and ministration will have a tougher time in restarting the programs later, as new funds will need congressional authorization,
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which ultimately means more delays, more uncertainty over necessary support for the economy and the small business. so basically, congress and spender is basically like stripping the titanic of its lifeboats. right, when things are starting to get really ugly and strange, how can they get which all of these businesses are now being forced to use their hours or reduce capacity going to hard and many, like you said, are saying that he's trying to trying to block the democrats in from, from coming in, taking over whether or not he's going to work with whoever's in coming. it remains to be, to be seen. but he also talked about getting together with democrats. i know he's, getting together with g.o.p. leaders, u.s., senate majority leader, mitch mcconnell is desperate as well to continue talks to pass stimulus. what is that going to look like if it even does pass before work january? well, i mean, we've been hearing about some sort of stimulus package for more than a quarter now, so i don't know how much we can trust that we will get one in this upcoming weeks.
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so maybe next year, but i really don't think we can possibly expect something as soon as the next couple weeks. so when you gent and others, they have basically led as a chance, stimulus russians for months now. and they have expressed that they may be more open to a compromise all in the selection. and apparently they are mean only their efforts in order to get something passed now that has pulled it like and basically crashed the helicopter. so the fact that is that lawmakers struggle to pass additional stimulus for months and they've made very little progress. the last trillion dollars cares i was asked in march and pretty much all of it has to do, you know, over the course of the summer. so i don't know how to get anything by the end of the year that we pretty optimistic and with the way the election results have been going. i'm not sure that the 2 parties are actually going to come together to the table to even have discussions or of of house speaker nancy pelosi is even willing to sit down with them to get something done. while unfortunately, the american people are hurting and desperately hurting in the economy, boomed with co-host. christine, as always, it's
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a pleasure talking to you. thank you for breaking this down for us. time now for a quick break, but when we come back a threat that deadline is approaching as the u.k. looks to code deals with several countries before christmas. well, panel coming up next. as we go to break here, the numbers at the club. it's been decades since the fall of spain's fascist regime, but old wounds still haven't healed and that's because for me from a gold to me coffee to market to bottom is a bowl in the us at the 6 mean older that ensures that they seemed to you know cells of newborn babies were torn from their mothers and given away and forced
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adoption. only to this day, mothers still search for grown children for their birth parents
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during the vietnam war, u.s. forces also bombed to neighboring laos. it was a secret war. and for years the american people did not know until our thelma is officially heavily bombed country per capita. human history, millions of unexploded bombs still in danger lives in this small agricultural country. jordyn wieber going to happen there. even today, kids in laos full victims of bombs dropped decades ago. is the us making amends for their tragedy in laos. what help do the people need in that little land of mines? is your media a reflection of reality?
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in the world transformed? what will make you feel safe? isolation community? are you going the right way or are you being led away? what is true? what is faith? in the world corrupted, you need to descend to join us in the depths, aura made in the shallow despite all the claims that could lead to enormous problems for you. kay,
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trade deals, the united kingdom seems to be closing in on a series of deals with canada, australia, and the european union. joining us now to discuss is bill must co-host on an a board member with the british american business association, hillary ford, which hellery. let's start with you. it looks like the u.k. deal with canada is all all but done and signed. what does this deal actually look like? a pleasure to be here with you again, sara? yes, you're right. just really basically this deal needs the ink to be on the paper, and this still is a global perspective too. and that sort of tactically, what it is globally, this is being crucial for both sides. crucial. why? because canada is the 12th largest trading partner from the u. k. and also from canada. the u.k. is this 6 5th largest trading partner after japan, china, the u.s. and mexico. so for both sides really crucial, actually 50 percent of all the lobsters caught in nova scotia exported. so products like beef, beef, seafood, all seafood,
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automobiles. it's really important. as mark agnew, who's the international policy adviser for the canadian chamber of commerce has said, you know this, this prevents the 10 percent tower of scaling into effect on january 1st. liz truss the u.k. trade secretary of trade. what she has said is that this agreement has proven that there is a constructive approach to doing such deals and that she hopes the relationship is formed and goes even deeper. so it really looks like this could be something that is even more extensive in the future for both sides crucial and very beneficial. and it looks like that deal is looking to be signed before christmas. if not before in the coming weeks. ben, there's also a post brogues, a trade deal that looks like it's almost just about complete. it's with australia. analysts are calling this deal a big win for the u.k. . why is? yeah, a big win because keep in mind, australia doesn't really have trade deals with most of europe and they haven't had it with the european union. it's a very loose system. so in this case,
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you would have a very clear set of trade deal between the u.k. and australia, and i want to quote here. apparently this trade deal includes we're told, quote, no tariffs, no, no tariffs, no quotas, and as free as possible, movement of people between australia and the u.k. . it's a very different kind of deal than what the u.k.'s had in the past or europe has had in the past with australia. it sounds like it's a pretty, you know, kind of free flowing agreement. it's the kind of agreement. i think that if you look at those who supported breaks in the 1st place, this is exactly what they wanted. they wanted greater freedom. they wanted better trade deals. they wanted to be not reliant on what the rest of the e.u. once or thinks is best for them. they want what's best specifically for the u.k. . so the deal with australia like the deal with canada would need to be wrapped up by christmas. that's what we're being told that it will be. but again, it sets kind of a new framework for what trade relationships can look like. and in my humble opinion here, these kinds of deals are what might actually compel other into teas and other
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nations around europe to break away from the e.u. as well. you know, they're still working on a us possible deal as well. but hilary, i want to be spoken about this extensively here on the show. i want to touch on how important about the fisheries agreement between the u.k. and europe, and that deal what it would look like, how important it is that that fisheries deal went to the been reached between the u.k. and these european arctic countries. yes, some of them actually you write to sara and it is going to be very important. some of that actually being signed, i want to quote, actually, and kill a muckle, who has been a great voice of reason throughout this entire process. of course, why? because she's got such pressure from of the german, common new factories and german manufacturers who want to trade with the u.k. . but i'm going to luckless said. she thinks that it's very constructive that the u.k. is working with no way. so that deal was signed by george eustice,, the environmental minister in the u.k., and also by bring stan in norway and the deal is one of the 4 nordic country fisheries deal. so you've got norway, greenland,
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iceland and the faroe islands of all signed these fisheries deals. what does this mean? this means that the u.k. isn't dependent on deals with the e.u. and 80 percent of the zone,, the european sort of zone of fisheries. they all are owned by norway and the u.k., so 80 percent between norway and the u.k. only one 5th from europe. so really, this is a very strong called for the u.k. to have these nordic countries having signed on. but going back to the quay and them having all these agreements, there's a deadline, it's december 31st. there are still still some concerns about whether or not the u.k. is even going to make deals with any of these countries that are, that the e.u. will be come out of the e.u. with not a full deal. ansted have this much, like you said, australia style deal, that's much bigger. what would that look like? what does it mean? you know, who ultimately i think we're going to get a deal with canada. between the u.k. and canada, i should say we u.k.
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and canada, and we're going to see a deal also have a problem probably between the u.k. and australia, with the e.u. will it get finalized? maybe, maybe not. i suspect that it will. but even if it doesn't, then you have what's called an australia style deal. as i mentioned before, i'll show you does not have a comprehensive free trade deal with the e.u. . it's more of a kind of generic deal that's made. and then what i'll show you does is it, is it just kind of abide by the deputy, you know, the world trade organization guidelines in doing trade with europe as a bloc. worst comes to worst. that's essentially what the u.k. saying. we can do the same thing if you can't come to terms and very specific comprehensive agreements that instead would just kind of operate under the guidelines that you know hillary's talk about, that she knows more about it than i do. but the reality is, is that the e.u. does not want this to be a successful departure from them by the u.k. . if it is, then they risk other countries following suit that want to do the same thing. the more successful that the u.k. is in breaking away from europe and the more successful they are moving forward
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without the e.u. . the more of a danger it becomes of the european hellery you're quickly asks are we are going to be able to make that. ben is exactly right, that's why the e.u. is making this absolutely as difficult as they possibly can, because they do not want it to good because then it will be the dutch will go next, next at the swedish, that race. why is that? so when you ask, is that going to be a deal? nobody? nobody knows. it doesn't matter though, because referring reverting to the w t o regulations on distrust because they've been before to debate. and the u.k. has already made deals with 52 countries, so it actually doesn't matter. there has been predictions of mask a also the border, but the head of the callaway portal thora, he's even said we've been preparing for this day. yes. so i don't think it will be drastic, i think either way it will work out for the u.k. there where they are prepared and we have heard which events one. unfortunately, we're out of time. thank you so much for breaking this down for us. and for joining us today, because that's all for now has been best on a man on the portable t.v. .
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so what we've got to do is identify the threats that we have. it's crazy confrontation, let it be an arms race in this spear in dramatic development. only, i'm going to resist, i don't see how that strategy will be successful, very critical. time to sit down and talk. a new gold rush is underway and gonna workers are flocking to the gold fields, hoping to strike it. rich. as children are torn between gold, my family was very poor. i thought i was doing my best to get back to see which side will have the strongest appeal
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on election fraud lawsuits by republicans claims. nevada pushed native americans to vote in exchange for a raffle. the gift card for helping joe biden pick up the state logistical nightmare experts slam a major new covert vaccine for the u.s. warning its extreme requirement to always be held at minus 70 degrees is simply unrealistic. the whole infrastructure to do the distribution. i don't see that coming together and it could work out in a decent way. it doesn't appear that it is.

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