tv Boom Bust RT March 14, 2019 9:30am-10:00am EDT
and some cryptocurrency have been outperforming they've been outperforming coin taylor letters in a simpler trading joins is this the also rans of how fast they are running and later from a hong kong visit artie's branch of bora set down with a bully is good enough about innovative blocking use cases to use cases rather all that directly ahead but first meet some headlines let's go. a strategic shift in europe stance toward china leads our global report today as the european union designates the rising power as a strategic rival that term and the label economic competitor were applied to china in a paper released yesterday which will be voted on by the e.u. member states in a summit meeting on march twenty first after a meeting between the e.u. foreign ministers and chinese counterparts scheduled for that week that meeting may turn out to be more interesting than most the paper intitled e.u. china a true teaching outlook cites familiar concerns over the future of internet cyber
security and transparency in chinese investment in arguing for the geo political adjustment reaction to the paper among e.u. member states was mixed with german officials welcoming the findings but others reportedly are more tentative about endorsing the new approach. and among the e.u. nations that are notably reluctant to endorse that report is italy as we've noted the mediterranean nations coalition government is moving towards greater economic cooperation with china under the auspices of the vaunted belt and road initiative or the b r perhaps not wanting to appear out of step this week prime minister decepticon today told an italian newspaper that his government is exploring methods to monitor deals under the b. in our brand in the meantime mr conti also said italy will take special measures to safeguard what he term strategic activities and national interest u.s. officials effectively responded in the same report warning that the b r i is a debt trap for other nations. the eurozone third largest economy is certainly
vulnerable on that point with public debt currently measured in italy at one hundred thirty percent of g.d.p. . and on the campaign trail back in twenty sixteen then candidate donald trump spoke of the u.s. economic growth between four five and six percent g.d.p. if only he were elected well he was and then his tax cuts were approved by congress that help the rich a lot not so much for the rest of us and last year's g.d.p. was get this two point nine percent now the economy is slowing based upon the multiple data points we talk about on the program all the time yet the trumpet ministration still says they expect three percent growth this year and into the future and therefore deficits will do windell here to discuss that and other global growth rates as professor of economics america's university messages and hurst richard wolfe professor welcome always such a great pleasure and honor to have you was that all a bunch of just hogwash from
a campaign speech. yes to make it the simplest way i know how yes that was the greatest example of wishful thinking or huckstering depending on your point of view that i can imagine the long term growth rate of the united states was and is returning now to the neighborhood of two percent if we're lucky two and a half the notion that we would have three four five and six that was pure grandstanding no serious economist thought that was a likely outcome it would have taken a miracle we haven't had miracles and so here we are i should mention that even the three percent that the official trump government is talking about is fifty percent higher than what their own federal reserve our central bank has issued as its prediction which is what much closer to the traditional two percent so even this government can't speak with one voice about what they are assuming will happen in
our economy right it's just such a shame that politicians and look it could be either side of the political spectrum with it but it was pretty good agree just i think back there in twenty sixteen and made it just just a shame that those sorts of numbers were thrown thrown out but that's one of many but professor when we look back over the years you go back to twenty fifteen i mean barack obama next to his last year in office the growth was also what we had last year twenty eight hundred at two point nine percent back in twenty fifteen twenty twenty eight thousand rather two point nine percent and even during george w. bush's presidency we had three point eight and three point five back in zero four and zero five so what about the projections in the trump budget that if if we ran three percent g.d.p. growth would the deficit actually dwindle to zero as larry kudlow and the office of management and budget experts somehow predict. not necessarily again
they are playing with numbers in a way that would get a graduate student in economics to get really bad grades on his or her exam if they talked all rote like that in order to guess what's going to happen to the deficit you have to know all of the aerial bulls that are shaping how much revenue the government is going to get and all the valuables that are going to shape how much spending it's going to actually do nobody can do that there are too many variables and each of them is shaped by so many different historical events going on around us that to say with confidence you know what is going to happen that's about the same thing as taking seriously the lady in the amusement park who tells you what your fortunes going to be next week that's an amusement if you take it seriously you need some help these politicians are playing with us and hoping we don't see through the charade you know that i want to move to the e.u. you know we the u.s.
seem to just get out of this great recession maybe hopefully but the e.u. look like they are on a positive path also to do that but they may not have quite gotten to gotten there what do you make of the e.u. growth professor well i think it's a good cautionary lesson two years ago they were saying well we're out of the woods we're going to recover the burden scuse me we're going to be in great shape. they're in very bad shape now that's why a couple of weeks ago the european central bank stopped all questions of raising interest rates and has started lowering them again which is the most obvious admission that they're in trouble which by the way they said the idea that this is going to happen to europe but can't or won't happen to us is ridiculous there are subject to many of the same affects and shape things of the world as we are and so what's possible there is very much possible here it's not good leadership to act as
if we are in some special place where none of this is going to happen to us you know in the early days of the collapse in two thousand and eight there were also stories that the europeans would have a problem we wouldn't that didn't last very long it's not going to last very long now either a professor can you briefly comment on china's growth or run a little short on time but people talk about how they've over and play to the growth projection what do you know and what do you think i think this is one of the great self delusions of the united states the chinese economic growth this year is depressing for them it's only six and a half percent notice that's two to three times what we have now that might be a special year but it's been that way for the last twenty five years every year pundits here say gee they're inflating their numbers bottomline over the last twenty five years china went from one of the poorest countries on the planet to the second most important economy after the united states you can't play the game of
pretending because you don't want to face that that they have solved economic growth in a way we haven't forever eventual ie the reality of it comes home and that's part of why the tire of games where we're seeing it's a little bit too little and too late but it's a recognition that the make believe that presser thank you so much as always for being with us. lead to the here. and the bad news continues to bear down on bowling as even more nations and airlines have cracked down on the use of those seven thirty seven max eight jets following that horrific crash in ethiopia over the weekend the u.s. is in the list the latest with an announcement by president trump just moments ago that they are effectively ground on from a peak of four hundred forty dollars per share at the beginning of march and hovering around three hundred sixty five dollars per share just before air time to bring us up to speed on who is cracking down on that model here is r t correspondent ashley banks has been following the story. the pilot of the ethiopian
airlines jet that crashed on sunday reported he was having flight control problems and wanted to return to the airport so this crash was the second fatal accident to take place involving a boeing seven thirty seven max jet and less than five months and october of last year max a jet crash in the java sea killing all passengers and crew onboard and both instances the flights experienced a drastic speed fluctuations during ascent and both pilots tried to return to the airport a few minutes after takeoff but weren't able to do so experts say a new feature was introduced to the max jets that would help prevent the jet's nose from raising dangerously high and in some cases accidentally nose diving resulting in either a steep dive or crash it's not yet clear whether the feature was ineffective due to the unknown more than fifty nations including canada australia brazil china the cayman islands the u.k. the netherlands south africa turkey spain and switzerland have taken steps to err
on the side of caution by either banning or grounding the max eight jets and the investigation proves the jet is safe to take flight and now the u.s. is being added to that list after receiving criticism the airlines either banning or grounding the jets include now in southwest american the cayman airways iceland or aero mexico or all air morocco norwegian an easter jet at this time the f.a.a. says it's still too early to make a determination about what caused the fatal accident on sunday meanwhile boeing says it's working closely with american ethiopian authorities to investigate the cause of the crash reporting from the newsroom for boom bust our national banks. and we're going to squeeze in a quick break here but stay with us because when we return some cryptic currencies have been outperforming bitcoin taylor lettermen of simpler trading joins us to discuss the also rans and how fast they're running and during a hong kong visit or to spread japan. set out with. about innovative chain use
witnessed the construction moving you need to transport. that will help the cause of crimea. while google more familiar with it a bit but. manufacture consent to public wealth. when the ruling classes protect themselves. with the famous merry go round listen to the one percent. we can all middle of the room sick. this is a stick from the water bottle found in the stomach of a fish the brand is part of the coca-cola company which sells millions of bottles
of soda every day the idea was that let's tell consumers they're the bad ones they're the litter bugs are throwing us away industry should be blamed for all this waste the company has long promised to reuse the plastic. that's. their classes. special projects funded. on the that is the end of. the mountains of waste only grow hi. welcome back there are new developments in the scandal surrounding one m. d. b. than a tourist official development initiative of the malaysian finance ministry
the us federal reserve this week banned two former employees of goldman sachs a large bank from working in the banking sector the fed accused the two with complicity in diverting billions of dollars from the one m. d. be fun mirroring legal charges filed against the two last year by. the u.s. department of justice tim lesnar one of the two backers also agreed to pay a fine of one point four million dollars to the fed meanwhile a key figure in the one m. d. b. case wheeler dealer joe lowe is now suspected by federal investigators of being the true source for the one hundred thousand dollar donation made by larry davis of l n s capital to a campaign committee supporting president donald trump according to the wall street journal mr lowe is currently a fugitive avoiding arrest on one m.t.b. related charges in the u.s. and in malaysia. and bitcoin has been the eight hundred pound gorilla in the crypto space since it came onto the scene
a decade ago but recent data show that that some other crip those are trading ahead of their two hundred day moving average can also explain the two hundred day moving average they call it the m a the m a for those who don't know is simply an ongoing account of the performance over two hundred days and give some indication of how whatever it is a currency a stock whatever it is is doing typically the other kryptos have followed bitcoins prices the other that moved up or down well now bit coin is performing well below their two hundred day may but that's not the case with some of the other kryptos here discusses taylor letterman the currency analyst cryptocurrency analyst at simpler trading hey tell you it's good to have you back again thanks for spending some time with us and let's look at the out performers one by one if we might how about a theory of how about eighth. so israel mitt has been training very positively over the past months as we approach twenty nineteen there was priced around eighty bucks and early on in january we got all of the one hundred sixty dollars of doubling in
prize but there's been some consolidation since then it's kind of slowed that trend down and we are seeing right now is that them consolidating right around under thirty and that's why we want to consolidate before we try to retest that one hundred sixty dollars level so yes not the only one i mean when you think about the big ones out there and we'll go through and but ethan is one that we just spoke about how about ripple how's ripple doing yes a ripple x. or p. is the token native to the ripple network. it's been trending as well but just sideways there's hasn't been a lot of price action there ripple swings around three cents here and there but there hasn't been any strong catalyst or any strong momentum in the coin just yet it's kind of following it but that's a big point where it's just turning sideways at the moment so when i say that there you know outperforming on the not just me that says that the data shows up above the two hundred day average and i want you to talk about light coin here in a minute but. it used to be i mean when i correct that used to be there really
following bitcoin and maybe that is diverging so is there the correlation that we've seen in the past is that gone you think it's just gone temporarily taylor and then talk a little bit about like point too. yeah i think it's going to be really for the moment being big coin has sort of been stagnant it hasn't been trending or at least tradeable it's been very boring as a trader to kind of trade lately so we're looking for other assets such as like one which has been trending and has momentum on its side over the past couple weeks since early february it's been on a rocket and we've all been kind of following along with like one as big and stable i still think there's a correlation there but as long as all coins are outperforming big coing we're going to start looking for those assets and the rest of the market the lower cap assets such as like oh and maybe a theory just to start trading those that have momentum on their side it's simply because they can't just moving sideways is bitcoin cash i mean it's a. bit quiet because when they had
a fork you got big coin cash right as is bitcoin cash another place for investors to consider and has it been outperforming on the two hundred day moving average it's been under the two hundred daily average simply because in november we saw a fork of big point catches self's of big cash like you mentioned being a four big coin in cash than fortune to do two different points so that's kind of splitting the more like when you're when you're stop when your stock splits so instead of the satellite going up twice as high it doesn't go up a so what do you think taylor is the underlying issue i mean is that you think it's temporary with regard to bitcoin but do you think that the tell me why you think bitcoin is sort of settled down which i think is probably a generally a good thing for all crypt those alternately but what are your thoughts exactly i think it's good that they can settle into a kind of thing last time we spoke i mentioned make crypto born again so we've see some consolidation the market untradeable and become more familiar adopters start
using the corporate currencies more which are trending in timing that part of the market cycle with adoption of picture and sees as an actual use case we're using them day to day. and i think as we're seeing right now is that boring that the cycle as we're coming out of sort of a recession in crypto in the early stages of like you said the big not actually being paired or being a primary mover in the market and allowing other critics currencies to flourish you know it be fun to do tailors some time we have a condom it's just been on the show on this year boris rashard with consulting and he's been doing some really interesting work showing that there is actually a correlation between the vix and bitcoin which had not existed before so maybe i'll come back with us next week or so we can get you both on the program to talk about that taylor about letterman cryptocurrency analyst at simpler trading taylor thank you so much for your time sure appreciate it and for having me. and
we now get back to our hong kong trip as our two americas branch of bora sat down with gina to talk about the future of change and some various potential use cases. we can develop options solution for documents flow management in the company so if you have a big company and like just everyone has like reports me and minutes of meetings and custis to maintenance every day we send one me them papers right digital favorites so you wanted me to make it really well managed so you can ask our company to build a solution where automatically. sometimes we'll have a different type of security accent and different types of star each time i was single based on love change acknowledging we should all be really stable you know secure and hold the old they only process you know it how does the block chain work at that so if you're talking about almost document our garbage yeah right how does
the block chain help with that versus just storing it on servers in your business yeah well this is centralized mail so. if you want to have something this intra lived say that really straight rule something sas that you know how the truth of the send we still like going through that to get documents start taking place or something bad to your id card and got the next as well you know computer to come up that this will never happen the solution based on special framework which will greatest all these actions and how does this differ from say the buzzword of the cloud cloud the cloud yeah well this is the traditional way which is also centralized if you want to have some for decentralized all the access you can you should use all. and although i want to see where do you see the future of blocks
where in real life. yeah i mean where is it going in real life. where it is going first of all i think that first here's where we can find an adoption will be definitely supply chain and syntax. because. change will solve the majority of problems since it's just years to my mind. you know like the world is big and police are stiffer and products from different places in the world and like you know like about four whites like clothes if it wasn't made just across this maybe in hong kong it is. across the state but when you leave him they or you live in minsk in moscow that it's quite like you have to solve this thing and like luck to you can solve a lot of problems. and bring more well you four or logistic
companies or any companies that sell us products from abroad so i think the spirit is like the real one that we'll see real love shame adoption and also health care where we need to tap like and supply chain health care and pharmacy but we need to be one hundred percent sure that these products i will look to place you in the logistics so in here we can also say that chained together with my team in the things we'll bring that we try to get it how do you see. you know how do you see like a full implementation of like block chain technology throughout the medical industry throughout the finance world throughout. i don't know the business you know i want to say business world but you know i mean through any any area where information is transmitted you have the full implementation happening yeah first of all. what is full of face what is i mean with every couple standard yeah well this is
a problem we know that cheney is just a teenager not even a teenager yeah yeah and we need to see how these little boy let's say boy will grow out how they sleep will keep will love life and future and then when it is a grown up like entity and then we can say what is full adoption what is full functionality and what is their school. or regulation or things like holidays scott will a one one one one hundred eighty year supply and for a moment we have a little kid push just really have to go in from one direction to another one and this is why for a moment it's quite difficult to say what is full adoption to its stand that way because we don't know what is the cops come up. to speed there will be you know as we get into the teenage years of young blacks. do you anticipate that there will be
a lot of talk about regulation regulation is one of the biggest question in the community of course because i mean we know if your entire sound frames you need to fold a stroller to hold these frames and the relations like i are personally i hope that's in the nearest future we will do our business in the more you know. more stable way without any. fear that to do something legal or illegal is illegal because in sound from from there at different countries where we believe she is not sad like south africa there is no regulation doesn't mean that we can do any business in south africa or we cannot do any business because we put our it's up to what is it made we have now because there is no sirree glacier island begats a customer from south africa for example from switzerland all. almost regulated
conjure up a stunning and right yeah in her eyes you can say that company do you know why it's like you get your clients to do the development of the code but we want to do something more for the community and we see like meat on three of these price i'll tell you it's not single a good it's. feels like a scam fried chicken with the saying oh this is straight we want to do more for the community so that's what we really feel seeing you know maybe i'll wait for normal stable regular i mean each on see. what nobody does bitcoin and watching coverage like we do we thank our two correspondents brad job or for his help there we thank you gina to all she was great wasn't she and that's it for this time thanks for being with us boom bust on you tube dot com boom bust our to see you next time.
someone. both you know what. you come from up there and i don't think i want to. justify. putting the focus was a couple of i don't. think she got time he. focused case on. jennifer. because i think you have a. stabilization because you. are from your birth control and think nothing. that i can hear from. this i don't want to deal with the united.
the negative interest rates coming to your bank account soon is being done on the wholesale level right now between countries and now it's going to come to your local bank account so instead of getting thirty basis points on your money market fund or on your savings account the bank will get a negative three percent so that's three percent will be taken out of your account and given to someone that's a central bank says a systemic claim for. so we've got to do is identify the threats that we have it's crazy confrontation let it be an arms race often spearing dramatic development only personally i'm going to resist i don't see how that strategy will be successful very critical time to sit down and talk. although the latest skirmish only indian pakistani border has faded from the
a crisis of unprecedented levels the british prime minister's deal rejected no deal breaks it rejected and no clear way out with the clock ticking the u.k. parliament tears a tear out over how to overcome the impasse. the cia is behind a mysterious attack on the north korean embassy in spain according to local media.