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tv   Boom Bust  RT  November 25, 2020 3:30am-4:01am EST

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trial samples plus airlines have been battered as a result of covert 19 despite a recent bump in holiday air travel. while the dow is setting a record high, straight ahead, we're going to break down all of those numbers. and later brecht that is back in the spotlight as the dangers of a no deal loom large for one of the world's top economy with a packed show today. so let's dive right in. and we leave the program with another update in the race for a coke at 19 vaccine. now, following the last week of promising news regarding candidates from pfizer astra zeneca and madonna, russia said tuesday, it plans to produce $1000000000.00 doses of its putting the vaccine and provide it at low a less expensive cost and then its rivals. now, russian sovereign wealth fund r d i f said of the situation. the cost of $1.00 dose disputed vaccine for international markets will be less than $10.00, thus snick v will be 2 or more, more times, cheaper than foreign vaccines based on m. r n. a technology with similar similar
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efficacy rates for russian citizen vaccination. with clinics, we will be free of charge. now for comparison sake, pfizer and biotechs vaccine is expected to cost around $20.00 per dose. the c.e.o. of modernity said this week its drug will cost between 25 and $37.00 per dose. and the astra zeneca vaccine being developed with oxford university is estimated at around $3.00 to $4.00 per dose, all 3 of which will require 2 doses. on tuesday, the 2nd interim analysis of trial data for russian sputnik back b was really showing the vaccine had a 91.4 percent efficacy in preventing a coronavirus infection after 28 days and was more than 95 percent effective after 42 days. meanwhile, hungary's foreign minister of on monday said the country will be the 1st in europe to begin testing sputnik be. last week, this scene arrived in hungary and arrived together with the necessary documentation for the one we're going to carry out,
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which will help our scientists to decide whether to expect scene is recommended for the one of the reason you were not the last week, the european commission took issue with hungry sputnik be trials, raising concerns that bypassing regulators could affect public confidence. so with all this in mind, let's go ahead and take another look at the trends and spread of the virus globally with r.t. correspondent saya tab at your site. where are things today? so let's take a look right now where more than 59000000 confirmed cases around the world have been in fact occur in a virus on the u.s. continues the lead the world infections with a more than 12800000 cases followed by india with 9000000 and brazil with 6000000. now taking a look at the daily case count, there were almost 180000 cases just on monday. now that's an 50 percent increase compared to only 2 weeks ago and brand while we think it's now it's bad
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news now with 12000000 full cases in the u.s. . there's also a new projection just published by the washer university in st. louis said the u.s. could nearly double its current numbers to reach 20000000 in less than 2 months. so whereas this month in the bamberg, we saw 3000000 new cases, that number might triple in december and january. and this prediction also comes as squadron 1000 hospitalizations, are exploding nation allied now, the us is currently on pace to surpass 85000 hospitalizations, a record as 30 of the 50 states reported record number of patients this month. now, in the midwest, a dozen states between ohio and dakotas have been especially hardware case rates are more than tripled than any other region in the u.s. . in fact, for many june until now reported cases in the midwest us where you see all the dark
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colors there rose more than 20 times. now if you take a look at the daily deaths on average, we're looking on monday. there were $1332.00 deaths and making the monthly average $1500.00, and that's a huge jump from the country's relatively low of roughly 500 average daily deaths in july and with cases and deaths going up. so quickly, officials are now of course, imposing new restrictions and really begging the public to limit gatherings and travel, especially heading into the holidays. now adding to all of this stress is that some of the new restrictions are also throwing people out of work once again, which would reverse the job gains. john gains since the spring and even push the unemployment rates back up again. and we already saw that last week when the number of actually americans seeking unemployment's. it rose last week for the 1st time in
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5 weeks. and this is very dangerous for the nation. i now because right now about 20000000 americans are receiving some sort of unemployment benefits, but about how full of those they want to lose benefits when the 2 federal programs expire as end of the year. and of course, given the political gridlock, no one is anticipating any kind of a new program before 2021, brant, you know, so we just broke down these vaccines for at least the general public. what are we looking at in terms of distribution? so right now pfizer expects to produce about 1300000000 doses in 2021 were as they said, they're on track to manufacture. and they were between 500000000 to 1000000000 doses globally next in astra zeneca. they plan to manufacture 3000000 of the vaccines. right? 2021 now russia split negri, they're planning to produce about a production a 1000000000 next year. but remember this most of these vaccines,
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they're giving it actually to do says, so whatever that number is, cut that production it half. and what does that mean for a 2021? is that anything as early as january 1st sound which was likely going to health care workers? then we're looking at february and march for nursing homes, then most likely in april for them or rhonda world population as a don't expect a widely available vaccine for everyone until at least april and may of 2021 percent are to correspondent side. thanks for keeping us up to date. and it seems like all year long we have heard about the struggles of the airline industry. you know, those struggles are part of the reason for the massive bailouts provided by congress over the summer. but were those bailouts enough to save the industry or will a new round of lockdowns send the industry plummeting again? well, joining us now to discuss a boom bust co-host, ben swan and christy i always a pleasure to have both of you on together. ben,
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i want to start with you on this. how bad are things getting for the airline industry at this point? yeah, it's gone really from bad to worse originally, the airline industry had projected the beginning of this year. they were going to lose about $100000000000.00 total. at this point, it looks like it will be one $157000000000.00 in total for the airline industry. last, i remember, as you mentioned, there were a lot of bailouts earlier this year. those expired, obviously, were used up by october and there's been no relief packages since. and so the airline industry, now that we're talking about a possible 2nd round of lockdowns, not just in the united states, but worldwide, things are not looking good. in fact, several different airline c.e.o.'s are saying that the aviation industry,, this is airbus, the c.e.o., will not reach pre-crisis levels brant until the year 2025. that is now the predict prediction in terms of getting back to pre-code levels. that's assuming, of course, that the trajectory from here on out is upward rather than stagnant. and now
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kristie, i want to shift gears and talk about the broader economy and maybe we could call this some good news. the dow hit record highs tuesday following. the trump administration's move to begin the presidential transition process. president trump actually spoke about this record day today. as the stock market shifts to broken 30000 never been broken. that number secret number 30000 and nobody thought they'd ever see it. that's tonight time since the beginning of 2020. and it's the 48th time that we have broken records in during the trump administration. and trump was quick to obviously tout that 30000 numbers but didn't actually mention transition. what was their actual fear in the market about a trend that a transition might not take place or that it might just be delayed? what are you seeing there, christine? i mean, there was a lot of speculation and fear are going on back in november that they're not going to be used in the transition, especially president trump back then declaring actually not relinquish his position
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so easily. so there was a consequence and the market price set in a little bit more. i think the market grew comfortable that there will not be any major issues or destruction during this transition period. and so we have today where the doubt is breaking over 30001st and this rally has really been driven by an asterisk next to research all the cool down. so it's a bit of a catch up tray. now the big election overhang has that. and this was a big reason, specially after johnson was the restriction, she told president elect joe biden, that the company ministration is making federal resources available for his transition into office. so president, he did actually approve of this move, even as he's. ringback continuing to fight, so the market really digested almost constant news. now what's going to cover a very well and since coronavirus is now back of headlines, all political uncertainty has now reached the back kristie as a follow up to that we just heard,
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sire talk about the general population is going to see a vaccine until likely april may and that's just the start of that vaccination process for of the united states. we're talking about what 350000000 people 1000000 people. so is this all just going to eventually drop out, or can these markets sustain these record high and continue to go up? i think it'll be difficult for the markets to actually sustain this because the markets are always forward looking. so they look forward to as positive news a quarter out to carry out the banks that end of this month to draw how rotten happened now and maybe next year. so there could be delays, it could be transition period. it could be you were just simply not refusing to take a backseat, so a lot can happen between now and then. but right now as the current projections, people are pricing in one where she wears out. the gentleman seen actually now, but i can just go ahead and you can, i just say about that 2 things very quickly. and i think chris is right about that . but something she said there,
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that i think we can just skip over is the fact that about 50 percent of the american population right now says they do not want to take a coronavirus vaccine. that's going to have a huge impact if stay at home orders. if shut down orders, stay in place until a vaccine comes along and half the population says, i'm not going to take it. how does that affect the policy that gets put into place that decides whether or not, you know, business is reopen an economic shutdown? fallout, the other thing is it's important to remember is that even as recently as this week, dr. anthony fauci said, well, even when a vaccine comes along, we may still have to wear masks and socially distance. so if you own a restaurant or a bar, or if you are in the service industry of some kind, you might not be getting back to normal, whatever normal is for a very long time, regardless of the vaccine. absolutely, ben, i want to hit on another point here. we got a kind of a bevy of stories today. when we talk about the incoming biden administration, president elect joe biden is expected to nominate former federal reserve chair janet yellen. as the u.s. treasury secretary, this is and we talked about on monday, not only with this break the gender barrier for the role, but it would place
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a very distinct set of leadership into the position to turn around this economy. would it not? so here's the thing, you know, i'm the fan of the federal reserve. i don't like the way it operates. i don't like the fact that it has so much authority over monetary policy, which i believe constitutionally belongs to congress. and congress kind of abdicated that. and just handed it over to the federal reserve. janet yellen, of course, is like the poster child for the federal reserve. so the fact that she will be there. i think if you ever thought there was any thin line between the treasury department and the federal reserve, that is obviously completely erased. but in fairness, is there really a line there? i mean, what we've seen with steve over the last year working with your own power, essentially. it's just one operation anyway. so i think if there's a positive here, it will erase whatever illusion people have about the federal reserve, essentially running monetary policy and fiscal policy for this country when they're really only supposed to run monetary policy. so i think it does a race that line. it's a positive in that respect,
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but in terms of what she's doing, i don't think we'll see a whole lot change because the federal reserve has been running the show for years, including when she was in charge. and even now when jay powell is in charge, and now christie, one last thing before we go here. now, we'd like to talk about record highs. we're hitting the dow today because it is getting close to cryptocurrency path $19000.00 on its way to those all time highs. over $20000.00, will it hit a new high this year? kristie? i don't think there is any doubt in people's minds right now market for it will hit an all time high very soon. i mean, we're marking cat has already hit an all time high this week to about 3 $129000000000.00. so this breakout is continuing the entire market and ranks higher as well. so we continue tailwind in this market that will only push prices higher. so 1st off as we started out, we see drops in exchange reserves. so this shows that people are moving a bit off of the exchange, indicating that the holy not sound like year to date. my mountain on exchanges have dropped 8 percent of this is really significant. because it showed up there are
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more apt to i then sell at her price almost like the rally. so secondly, we talked about the rising institutional demand in the past month pay pal bought almost 70 percent of all the new lead mine decline and that is only expected to increase. and finally, this market demand is primarily driven by spot demand miss to sell. so i'm pretty crisis, production is relatively inelastic. you can't see that mining much more from here. but meanwhile, demand is tiling up. so this market is really leading to derivatives, market right now, and this is really important because the opposite was true last year. the futures market led the rally, then became susceptible to water price movements and some dislocation. but this time it's the spot market that's leading not leverage the demand, israel. well, next time we're going to have to talk about exactly how high it can go. boom bust co-host, ben swan and christiane, thank you so much for breaking it all down for us. thank you. now for
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a quick break, but hang here because when we return, despite the toll of the team on the united kingdom, experts are warning that it could nation's economy. straight ahead. we're going to dig into the details of where the split stands and as a break. join me every time, i'm sure. yes. i'm sure. i'll see you then. thanks guys are financial survival guide. when customers go by the reduced price in
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elf, well reduce and lower. that's undercutting, but what's good for markets? it's not good for the global economy. it's been decades since the fall of spain's fascist regime. but old wounds still haven't filled the bones of those working for us. because for me, from the gold to me coffee to market economy supposed to me on the bus at the source me note of that. i wish that the same question which we know of newborn babies were torn from their mothers and given away and forced adoption. that only bought a body was the feast. to this day, mothers still search for grown children while looking in hope for their birth parents.
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then walk by wagon that he will go on or yours will pull you out of the mouth and they would have it. and i did india. it will always be the good if it was the muslims or no one else home on a cotton to keep it or don't or don't let you come up to the truth about the how i live and i'm mad at them and the minimum time because i'm not bad with them, but only that if i say i love them, they're gonna do writing about nanami a matter of al, the only thing is about fan
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. welcome back. x. account maker, producer pharma pleaded guilty tuesday to 3 criminal charges related to its role in the opioid epidemic in a virtual hearing with a federal judge in new jersey, the drug maker admitted to not effectively preventing prescription drugs from hitting the black market and paying doctors 3 speakers bureau to get more to write more prescriptions for its drugs. now the guilty pleas were part of a criminal and civil settlement announced back in october between purdue and the u.s. department of justice dealing clues, more than $8000000000.00 in penalties and forfeitures. but the company will only have to pay $225000000.00 directly to the government. members of the sackler family who own the company have also agreed to pay $225000000.00 to the federal government to settle civil suits. at this time, no criminal charges have been filed against pacific family members. and as the end of the year nears,
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there are still questions as to whether british european to go to union negotiators will be able to make a post-breakfast trade deal. but irish premier michel martin said monday he was quote, hopeful that by the end of the week that we could see the outlines of a deal. martin said, while there is still work to be done, there has been progress on fisheries and ensuring fair competition for jewel negotiations have been ongoing since thursday of last week, and also on monday, a spokesperson for the use negotiation team said while they are committed to a deal there will be no delay in the deadline. but the end of the year, if you can achieve single markets in the customs union, there is no possibility to extend the transition period beyond that point. as you know, this january is the days we are trying to get a deal for the us to make sure a future partnership agreement is in place with u.k. on the 1st january. you either have the deal or you don't have it. you think that's just to be absolutely clear in the us and to discuss,
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let's go ahead and bring in dean of the miami herbert business school, john quelch and hilary ford, which board member of the british american business association. thank you both for being here today. hilary, i want to start with you michael moore, in that he says there has been progress made on fisheries, unfair competition rules, but these are both topics that we've talked about at great length with you on this show. are we really any closer to a deal hillary? pleasure to be back with you, brant actually. yes, i would actually also note that j.p. morgan that throughout the entire summer, so how they're all a deal. no deal. 2 thirds for a deal. that there would be a no deal brax it well actually they just opt to 80 percent. and in terms of the actual content of the agreement, 95 percent of the entire agreement is settled. so there's only 5 percent up in the air and yes, you're right. 5 percent is part of that, of the fisheries. we talked about also governance and the level playing field. those are the 3 issues at stake. but with regard to the fisheries, yes,
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there has been progress. and also, a vandal actually picked up the phone and as a side to interject us solve as has boris johnson, the 2 of them really want to see this dhamma and they want some, you know, calm and peace with regard to the fisheries. and it's interesting that in france, micron is under increasing pressure and there is a growing fracs, it movement due to the fisheries issue. so he has to settle the bank of england governor andrew bailey has warned that the failure to security you u.k. trade deal could do more damage to the british economy over the long term. then the coronavirus pandemic, which is wreaking havoc currently. what do you make of that assertion? and what could this do to the economy if there is no deal? no doubt the governor is correct. the covert crisis is a short term suppression of demand. but the brics, it would rip with a new deal would represent very long term disruption to trade flows that would,
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doubtless have a very severe impact on the u.k. economy. and on g.d.p., britain being a trading nation. this is borne out by a study that the london school of economics finalized in which essentially put the magnitude of the no 2, your brakes at approximately 3 times the impact on g.d.p. that the covert crisis will have. now, hillary, we know that the bracks it's been going on since 2016, but clearly the pandemic has made it harder to hold substantial negotiations. or why is that you still get the delay in this transition period? and is the u.k. even asked for this at this point? where you are right about the pandemic come, obviously it's wrecked, lots of things internationally about particularly the e.u. trade negotiations negotiator. he actually contract to get back in march and lord frost on the british side. he's at the moment in self isolation. however,
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once he comes out of that isolation, purportedly vonnie is going to return to london hopefully to finalize things. so yes it has put some, some problems they've been doing. a lot of things though i would say remotely. there's been a lot obviously, like i just mentioned and laden and bars, johnson talking. but it is projected that despite all of this, they will still come to some sort of agreement, mainly because as i mentioned before that it's, it's, they're not going to both of them cut off their noses to spite their face. and just as we just talked about, the destruction to g.d.p. could be worse than the pandemic. so neither side wants to see that german manufacturers and you came manufacturers. all of them want to trade. the only thing that the u.k. does have is that 93 percent of all the part that the u.k. buys from the e.u. they can buy from elsewhere. and there have been now trade negotiations with 52 other nations. and that's why the e.u. doesn't want to delay any thought that because they want to get this done. and he quotes, looking at another dire warning about what could happen with a no deal,
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the society of motor manufacturers and traders. a british car industry trade organization actually says the failure to make a deal by the end of the year could cost 70 $4000000000.00 in tariffs by 2025. how big of a concern are these tariffs on vehicles like you said trade overall could be thrown off by this? so what are we looking at in your opinion? have you seen us moving any closer and in quotes? well that this is another example of an affected industry hyping the negative for obvious reasons to put pressure on the british negotiators to come up with something. now in the case of the auto industry have a situation where if there is no bread deal, cars being imported in the us into the u.k. will be subject to a 10 percent tariff at the port, which will translate into about a 6.3 percent. retail price increase. at the same time, there is
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a certain number of cars that are manufactured in the u.k. by the likes of land rover and jaguar were some ford cars as well. and these, if they were exported to the you will be subject to similar tariffs unless 60 percent of the value added are represented by the vehicle is british made. and we have had a couple of rulings just very recently indicating that the e.u. is not willing to accept what is called cumulation. that it is pots for example, imported from japan that are inserted into british made vehicles not to be counted as part of the british contribution to the vehicles. failure of the moment, only 44 percent of the average british vehicles value is represented by british made components as opposed to the 60 percent required by the e.u.
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. so the end result of this will be a very difficult tariff situation for cars being exported out of the u.k. to europe. and at the same time, the british consumer is hardly going to be assisted by having to pay 6.3 percent, higher. prices for imported cars from the e.u., dean john, cause of the miami harvard business school and hillary ford, which of the british american business association. thank you both for breaking it all down for us. pleasure. thank you. for the time you can get boom bust on demand on the brand new portable t.v. happens to be able on smartphones and tablets through google play in the apple app store or by going to portable t.v. . we'll see you next time
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media a reflection of reality in a world transformed what will make you feel safe, isolation, community. are you going the right way or are you being direct or is faith in the world corrupted? you need to descend so join us in the depths of the shallows. it's been decades since the fall of spain's fascist regime, but old wounds still haven't healed.
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all of us of the 6 mean older than just the same question, which we know of newborn babies were torn from their mothers and given away and forced adoption. but only to this day mothers still search for grown children hope for their birth parents. 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 very dramatic development, only exist. i don't see how that strategy will be successful. very time to sit down and talk
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with the bushnell. you can use new york city, but i'm still lead you to surround us most of the morning sun even if you want it and you believe it or that is which you'll see in the local,
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which is based on your own work or one with your leanings lead to such as to start a look at your bullshit and look at you ruthless and sure that everyone you know, would you like the last chapter? i feel the anger builds in france as the country's little make has passed. a controversial bill is for the it's the filming of police officers for malicious reasons. in other news, president elect joe biden packs his cabinet with pork sparking concern about washington's intentions abroad. and so on. media is handed over another district in the disputed nagorno-karabakh region to azerbaijan, as part of russia's brokered payscale local. so.

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