Skip to main content

tv   Boom Bust  RT  October 28, 2017 1:29pm-2:01pm EDT

1:29 pm
well it's an experience like nothing else to be true so i want to share what i think what i know but the beautiful journey i grew to will transpire that. it's going to. highland de france and the bus broadcasting around the world from washington d.c. coming up amazon is shifting gears yet again it's been granted approval to operate the whole cell pharmacy in state that number is growing though my guest explains how this is shaking up the industry and the ruling communist party in china has in shrine of the country's aggressive trade initiative known as belt and road we give you a look at just how ambitious this plan actually is and in catalonia voters and the region's president are at odds with one another as well as the spanish government
1:30 pm
weeks after the vote for independence from spain was reached and his government is taking strong measures to keep the region from separate stand by the us start right now. bail has plans that have won a million dollars for a billionaire opioid medication maker facing fraud and racketeering charges amid a national opioid addiction crisis john kapoor the founder of insists there appear dix and a group of his colleagues are accused of offering kickbacks for physicians who wrote large numbers of needless prescriptions for opioid products. federal prosecutors in boston accuse the group of offering bribes to doctors who prescribe a highly addictive and potent opioid spray named subsists the medication is meant
1:31 pm
really only for cancer patients in extreme pain most of those who received the prescriptions weren't cancer patients the group was also accused of conspiring to mislead and defraud insurance providers who were reluctant to approve payment for the drug when it was prescribed for patients without cancer after setting the one million dollar bail for kapoor the judge included two requirements the wearing of an electronic monitoring device and a surrendering of his passport. and amazon has been granted approval to operate as a wholesale pharmacy in twelve states rumors have swirled in recent months over this very thing and amazon has kept very quiet joining me to discuss as amazon steps over the threshold of pharmaceutical supply chain management is one of the founder of the stocks thank you so much big news it was a bombshell yesterday what were your thoughts when you when you first heard that news well thanks so much for having me lynn say great to be here i was really
1:32 pm
surprised and i think the timing of it was spectacular because they had earnings reported last night for a third quarter they absolutely leaked that news or right for further earnings came out and amazon had a record of record breaking day today so it definitely helped the stock. so it helped the stock and obviously a lot of excitement but major players in the drug destro game have. been a little iffy it seems and we we saw the stock drop minutes after the report came out just take express scripts just as one example from a high of sixty one ninety five a day we saw severe drop right after the news broke and spread around it opened at fifty eight fifty nine it's recovered to sixty two. is this going to be a continuing trend for pharma stocks until we get more details on the whole plan is just going to be a bit a bit manic what do you say well well i think the interesting thing about this is that amazon wants a piece of everything so this is actually it while it's good for the stock
1:33 pm
exceptionally worse for the pharmaceutical companies so it's going to have a worse effect on them than the good effect on amazon if you know what i'm saying c.v.s. dropped even more today it's had two really down days two parish days merck dropped today aetna dropped today and yesterday also it came out that there's rumors that c.v.s. is going to purchase. and so that might push through i mean nobody knows what's going to happen with that yet but i think that amazon has a great way of talking people into buying stuff from them because they make it so easy they take away the friction the interesting thing is that amazon wants to get into all of the regulations that are involved with issuing drugs you were just talking about the opioid crisis you know i mean who's are they going to hire pharmacists are they going to outsource it on the call last night on the earnings call last night someone asked about amazon are they going to be selling the drugs now in whole foods stores to where you would go in and pick up your drugs at
1:34 pm
a whole foods store so all of these things are possibilities for the future but i think it's it's going to have a negative effect because amazon customer the competition and really as far as i'm concerned stop winds and company was i wasn't doesn't really have any competition they are in a category alone by themselves so expect them to continue growing but this is the first wave of it and as you said they've got license for to issue pharmaceuticals in twelve states they're going to they're going to get a license in every state of course they well you know i think you and i were watching this come out the same time last night and i immediately started watching c.v.s. express scripts all of it to see how far down it would go i was surprised it recovered for those. vested right now in companies like walgreens c.v.s. and express scripts what kind of advice would you give them should they be worried about price fluctuations that much are we going to see a drop off the charts now i mean these people can't just go buy amazon right now it's too expensive should they just know they can actually wait it out wait to see
1:35 pm
what the plan is you know what i think right now if you look at the charts one mark is still a very strong chart c.v.s. is starting to break off the chart doesn't look so great in c.v.s. so i am not bullish on c.v.s. whatsoever while mark is still a very bullish chart they offer other products and services c.v.s. is right now looking bearish however like i said if they end up by the end it could change but the thing is that with trump running through this whole health care system no one knows what's going to happen in two thousand and eighteen with the whole obamacare so i would say it's a very risky stock any of the stocks any of the health care stocks the health care sector all of it pharmaceuticals health care all of it are risky investments right now i'm not bearish really on any of those charts i'm not bullish on any of those charts i'm bearish on those charts right now right ok so these rumors of been going around for a while any solid indicators early that amazon was going to move in this direction
1:36 pm
. i will say one thing when i was on it reported last quarter in july july twenty seventh that july twenty eighth the stock got down and they traded in a solid range for about three months now i'm a technical person i look at the charts the it was not moving market kept making new highs we made record breaking highs on the nasdaq today so in that range it was a wait and see period this was a really important really important report for amazon last night not just because of the news that was late yesterday in reference to getting into pharmaceuticals but because they had bought whole foods so this was the first report since they bought of whole foods and i'm telling you that amazon is higher than health care stocks like i said i'm not bullish on those i'm bearish on those they don't look so great but amazon was trading in a range for literally three months which was highly unusual mainly because the stock moves a lot has a lot of volatility normally and the market was hitting new highs almost every day i mean you look at the last three months of the market almost every day of the
1:37 pm
markets were making new highs and amazon wasn't going with it and amazon is still a strong stock i mean it was even when it was based saying but if i only broke out but it just goes back to what i was saying that you know i'm a sun continues to enervate one of the reasons i think the stock broke out today and ran so i had such a big move and it's higher by the way it's higher even probably in the next week next week is a big week for the market too because apple reports next week facebook reports next week ali baba reports next week so other stocks cool reported last night with amazon but other stocks in this sector report next week to some really big names so expect the market and amazon and google to continue higher into the next week you know more of it i've got to ask you you mention the pharmaceuticals and health care stocks have been viz guys realize that we're amazon has strengths which is lack of friction like you mentioned simplicity that people are hungry for that in pharmaceutical supply chain as well and they should have gotten on board with
1:38 pm
creating some sort of an easy storefront for drugs it seems like they were just waiting. i know i made a who's to say i mean actually you know the ownership of amazon they're highly intelligent they're very sophisticated people and they're making all the right choices they're out there they're ahead of the game they're forward thinking you know it's probably going to come to a day where you you know how it is worth with the elect me just say you won something and you say oh i want more paper towels and it orders it eventually it's going to be something in your car or in your refrigerator it just automatically orders whatever you need from amazon when you're all out i mean it and they are just the greatest innovators not to make it easy and take away the friction like i said of buying but but the take away the thought process is everybody is busy everyone is busy and so the problem with c.b.s. is they have too many brick and mortars they haven't made it easy enough to do things like amazon online i think i think it i think probably the thing with that
1:39 pm
is really going to change the game for them because getting into the insurance right now ever since you look at the stocks previous high in c.v.s. and a lot of those ones are the health care sector of the last time they made new highs was two thousand and fifteen i mean we're talking like two years ago so amazon made brand new highs today the market did any stock that is not over and making brand new all time highs right now with this market is not bullish in my opinion so that's why i was saying c.v.s. it ran down for two days merck ran down today to these things if you're long term and you're still long term you know you know i don't think that they're great holds i think they've got to do something and maybe the buyout of that no will be it for c.b.s. but when you're looking at amazon as a competitor no matter what you're doing whether it's the food industry whether it's pharmaceuticals any of that stuff it's hard to be they have the cheapest prices they've got free shipping they've got the prime days the specials it's hard
1:40 pm
not to sound like an advertisement for them when you talk about everything they're doing. drugs it's hard not to because you're literally listing a litany of things people don't want to have to do is go out to the store in the middle of the night and get something refill a prescription on a sunday at five o'clock and so i think it'll be interesting to watch the movement in pharmaceuticals in the next six months as as folks try to ramp up an approach to this not really know where that where that's going to come from but amazing. you know has. well i was going to say you were saying watch for the next six months these charts cannot lie on talk about the health care it's not the tech stocks the health care sector cannot continue to lag while the market keeps going like this every second it can't that's that's not what you want to see that's the opposite of what you want to see so i'm just saying if you want to look at the next six months to watch these things going to two thousand and eighteen or the next earnings for these stocks they've gotta get their butts moving higher otherwise if the market
1:41 pm
keeps going and these stocks are alive again why why would you want to own them right why would you want to sell your shares if you own these health care stocks and then why won't you want to buy something like amazon if you can afford it at that point thank you so much that we got to bring you in it to follow this story with us because it is fascinating stuff having me thank you melissa founder of the stocks l.l.c. thank you very much thank. the u.s. economy grew at a solid annual rate of three percent in the third quarter bolstered by business investment this comes in the midst of hurricane recovery efforts in texas and florida which slowed job growth as well as temporarily halted gas and oil production on the on the gulf coast now it marks the first time in three years that growth has hit at least three percent for two consecutive quarters the commerce department reported friday that the july through september advance in the gross
1:42 pm
domestic product followed a three point one percent rise in the second quarter to many private economists believe that the devastating impacts felt by hurricanes harvey and at least one half percentage point off that growth. u.s. regulators are investigating complaints that steering wheels can come loose or have even fallen off in the ford's huge in models today and according to the national highway traffic safety administration a person in georgia reported that their steering wheel fell into their lap in a two thousand and fifteen fusion when turning into a gas station on september twenty third the agency open a probe after receiving three complaints about loose steering wheels the problem covers about eight hundred forty one thousand midsize sedan is from the two thousand and fourteen through two thousand and sixteen model years two other people reported in the probe claimed that the bolt attaching the wheel to the steering column came loose while driving and had to actually be retired at
1:43 pm
a repair shop ford says it's cooperating with investigators as they work to determine how often the problem happens how many vehicles are affected and no recalls have yet been issued. time now for a quick break but stick around because when we return in china the ruling communist party enshrined the country's aggressive trade initiative known as stealth and wrote as we go to break here are the numbers of the closing down. there why does drive there. is basically a do. not to be demagogued screen these is what would you do that. you know you see
1:44 pm
these issues. becoming more and more from them you. know exclusion in the. they come to get enough and they've got you we have you on your world. earth. click click. click . but. the
1:45 pm
relationship between kids sure it was approved suggested no proof and a fairly strong one there were two thousand right out some involved in the study it's a very extensive study done by a well respected scientists. do chemicals that down the advertising. really increase the risk of cancer and i chose a known to them in the launch a test of skepticism. that that is true by independent scientists so did the industry. i read. through my time as well as the others why is that in the me too happy definitely to like what we've been doing and if you want to learn more you'll get a definite on see. out. there. this is big business against health. this is starting to show. that.
1:46 pm
the prime minister of japan wants a pay raise to drive the economy after shinzo obvious sweeping re-election victory last week he is taking aim at a campaign promise to boost the japanese economy by asking private industry to hike worker pay by three percent next year their prior prime minister called on the private sector to at least keep pay raises the same as the your previous japan has experienced twenty years of on and off deflation the country's inflation goal is two percent but right now it's trailing at near zero that is in spite of five years of stimulus measures. and the political sparring and rising tension between. in spain and its colony in region continues to escalate the situation in spain became
1:47 pm
even more complicated on friday when a secret vote took place in catalans parliament r.t. correspondent charlotte dubinsky has more there is confusion in counselor about whether this is now an independent republic or still politics say that's because on friday members of the council on following voted to declare independence that vote was held in secret and some members of the parliament refused to take cards walking out of the building of the eighty two that state seventy voted for independence and that motion was lost now there were cheers on the streets for thousands of pro independence supporters but in madrid the reaction was very different the spanish prime minister last voice said he wouldn't recognize the declaration instead senators in madrid pushed ahead and voted in favor of article one five five and never used before part of the spanish constitution to bring back catalonia under
1:48 pm
the full control of spain well since then rai has declared that catalan president's call us who she won't and his government to be removed from office he has also said that the cattle on chief of police is removed from his job and most crucially he has said that elections will be held in catalonia on december twenty first international leaders have also said that they would refuse to recognize that voting got the idea and say they stand side by side with spain the reality is that despite a declaration of republic those catalogs to support independence may find that their struggle is not to get over while those who want to remain as bait participate hopeful that that will not still be the case charlotte's da vinci bassed barcelona. prevailing in president michelle tamara has had to. fight to stay in power following a string of corruption allegations he was temporarily spared this week actually but
1:49 pm
will his political agenda be able to gain traction for she has more on that for us throughout all of the corruption allegations brazilian president michel to mare has maintained his innocence and in a vote on wednesday congress voted against suspending him to stand trial on more charges out of the four hundred eighty six votes two hundred fifty one voted yes and two hundred thirty three voted no since the opposition didn't reach the two thirds required the matter was rejected by thursday to america expressed his desire to get back to work immediately in a video posted online about. the truth has won our constitution individual rights and institutional rights prevailed it's time to focus on what interests our people the bridge that we are building to the future is solid firm and resistant but it's unclear exactly how much you'll be able to get done after spending so much time on simply avoiding more prosecutions in order to push any more economic reforms will
1:50 pm
need support and there were several members of congress who made it clear he didn't have there's. two dismissing the accusations i vote no against you i vote no to destroying the environment and sleep working returns for votes no. narrowly escaping another investigation could be the best news he'll receive in a while to mercer prove all reading currently stands at three percent according to a recent study though this all follows a massive corruption probe from two thousand and fourteen which has led to dozens of arrests of congress members and prominent business leaders prosecutors say the government was run like a cartel with political parties selling favors to the business community and they allege that to mera successfully took over that cartel once he was elected he may be safe for now but he could still face charges when his term ends in december of next year. and that might make it a little harder to combat the ongoing economic crisis that brazil currently faces
1:51 pm
the economic crisis there it's staggering international investors are generally pretty supportive of him is it like the devil they know versus the devil they don't how do they react to the so investors are generally supportive of him because they see him as a very market market friendly right leader but they didn't really respond at all to this it didn't really move markets because they know about the battle that he faces with congress most brazil observers are expecting to marriage to just sort of be a lame duck politician until the end of his term in december of twenty because getting anything passed you know i will get something small passed and they're not expecting any big changes for the rest of his term and a holding pattern now he's decoration what's the latest on the economic recovery though while the economy if lucky for him is doing a little better moody's just upgraded petro processes credit rating which was very important inflation is down unemployment is still high but it's showing signs of
1:52 pm
slowing without the stock market hit an all time high last month so that's good but when the recession hit in two thousand and fifteen we sell lots of cuts to schools tolerate little's to public security funds so any other sort of cut would be really hard to get passed and temeraire is trying to prioritize pension reform really cuts and has investor friends are telling him to do that because they both see it as the only way to avoid a sort of budget crisis in their future but like i said passing anything forget pension reform is going to be very hard for temerity to before his term ends right thank you so much. china's president xi jinping has further consolidated his power by adding a drive and infrastructure project into the communist. constitution while some criticize initiative as expansionist on china's behalf opponents at home and abroad
1:53 pm
say the move could help the country achieve its economic and reform goals are. is in trying to with the story talk about revamping alex at china's latest congress the ruling communist party as we saw it approved allowing president she's belt out policy to become a part of its constitution tell us a little bit about this initiative what they're saying is connectivity and cooperation they're basically want to expand their reach into your asia and europe of course and there's a couple of ways that they're doing it there's already been billions invested in countries outside of china by china but if you take a look at this map it gives you a really good idea of what this initiative is all about it was unveiled in the fall of two thousand and thirteen in a couple of stages and really it focuses on a land based silk road economic belt as well as an ocean going maritime silk road which china of course being the center of this trading network what's interesting
1:54 pm
here is that this is in compass is sixty countries in asia and europe as well as oceana which is you zealand and australia as well and south africa so this is very expansive the prime example here is you just look at the railway system the silk road where railway goes from china through kazakhstan russia belarus poland germany and basically connects asia to europe so this is one big part of this whole equation and it's not just about connectivity when we're talking about it from a people point of view it's about construction it's about infrastructure it's about roads it's about railways it's about the maritime movement of goods and services it with making china the center of this whole trading basically a business scheme and of course for themselves that makes a lot of sense now opportunities here we have a quick rundown of the five key opportunities that china is talking about in these areas it's policy coordination planning in supporting large. scale infrastructure development projects facilities connectivity building facilities to enable
1:55 pm
connectivity along this bells and road route or routes i should say the trade in investment facilitates across border investments in the of course supply chain cooperation supply chain something we've been talking about lot north america when it comes to nothin the dealings that we're doing right now financial integration so banking and everything else and then there's cultural exchange now that's an interesting one it's just basically for china which is a very culturally rich and diverse country they're talking about expanding that and having that back and forth now we're talking about a project that's going to be anywhere between four and eight trillion dollars there's really no end date to this and china see that they put it in their constitution now you know that they're in there for the long haul with this that's right the cycle operation some hair coersion but i'm just putting that out that what does this mean for president xi jinping is an obvious question coercion if you can say course and i mean this is it's a game that everybody is playing out playing it the major powers play this game and
1:56 pm
that's basically you invest in countries and you might want something back for using paying this is maybe a little bit of a different story knowing that that he now is there that he basically had something of his put into the constitution is one of only two guys the chinese history that's ever had this happen and they're saying that for him as the consolidation of power i mean he's turned out to be just powerful model now in many ways right now we don't see any air coming up we know that they're basically when it comes to the chinese throne the being the president he's got a lot of support so for him you know this guy just who's been at the top has just entrenched themselves at the top and done it very well how is it sitting around the globe. interesting is the world like what we were saying you know there is that look that hey this is the expansion is sort of power of china they're moving outside of their own borders they're investing in other places they're trying to get people on their side and why not everybody else is doing it so why wouldn't
1:57 pm
china do it is. also just looking at the fact that this this bit that this is this initiative that they're instituting it's very ambiguous so yeah it might be entrenched in the constitution but there's a lot of play area there so you can do a lot of things there interestingly enough though moody's moody's added that you know what well this is a good thing because this means stability for china right so yeah i've got to top think about it four thousand years of chinese dynasties if you're going to include a communist china they run things a certain way so they're doing it and i think moody's likes to see that and so do investors around the world the markets are stabilized because of this that makes sense i mean time to get the popcorn and watch this construction battle on all this cooperation or chorus and that's going to happen astoundingly ambitious thank you so much for filling us an hour to correspond to alcohol events in toronto thank you . thanks for watching be sure to catch boom bust on direct t.v.
1:58 pm
in the united states you can find us on the r. t. channel three two one and if you missed us on drug t.v. on you tube you to dot com slash r t thanks for watching next time. how does it feel to be a sheriff the greatest job in the world it's as close to being a king as any job there is one business model helps to run a prison now we do or don't like to see it nobody obeys the taste and they don't no one comes anymore we don't have to serve them anymore is. this what they want to do that lo and behold you were damned if you did towards a man. to put it back into the louisiana incarceration rate is twice as high as the us senate breach what she is behind such success. under margaret thatcher there was
1:59 pm
a transition away from public housing and government assisted government underwritten public housing and they sold off all the council estates as they're known people bought into the units across the country and they became the land owning the new land owning neoliberal gentrification under the current government in the u.k. it's another socialist scheme of government underwriting property but not for the poor people they do it for the rich people. here's what people have been saying about rejected in the us actually it's full on awesome the only show i go out of my way to launch you know what it is that really packs a punch. yeah it is the john oliver of party americans do the same we are apparently
2:00 pm
better than the blue. sea people you've never heard of. jack to the next president of the world bank very. seriously send us an e-mail. thousands rally in madrid barcelona to keep spying together after the parliament declared independence. also this hour a u.s. senator approaches twitter to disclose personal messages in accounts held by wiki leaks social networks lawyers are set to testify in congress on alleged russian meddling in the u.s. election. bribery racketeering and fraud a billionaire drug company boss faces charges for allegedly getting doctors to overprescribe poly addictive painkillers some of them fifty times stronger.


info Stream Only

Uploaded by TV Archive on