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tv   Boom Bust  RT  November 20, 2019 8:30am-9:01am EST

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the debbie downer here for a 2nd some of these tech stocks it feels like are a little bit artificial in that everybody calls themselves companies now i think of we work for instance they would say they were a tech company but they were to take where they were real estate company produced to be something else in order to get that investor money and actually worked with we were seeing that was something that the company did and that's why it's so easy because as soon as you say that you're a tech stock you automatically attain a higher multiple tech stocks right now trade on average about 11 percent premium over the broader market and they trade at a much higher multiple so things like we were in for that matter cloud kitchen's the new one that's right that one is essentially we work for restaurants and that somehow managed to get 400000000 funding in seed round when it's merely a concept when it hasn't even been been proving yet how is that possible in your name and all the sudden the money starts flowing in exactly. japan and south korea are going back to the w t o for a 2nd round of talks tuesday regarding a dispute over japanese export restrictions but observers say that it's unlikely this round will and differently on
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a slightly more positive note japan's lower house of parliament approved a limited trade deal with the u.s. but now there is uncertainty over progress regarding highly contentious tariffs on its cars and car parts japan and the u.s. formally signed a limited trade deal to cut tariffs on u.s. ag giving president trump a moral victory but now there's fear about next steps as trump known for his flip flopping ways have not confirmed that the u.s. would scrap tariffs on japanese cars and car parts despite giving jack assurances it will analysts cited these times as unfavorable as details were intentionally vague giving us leverage to win more concessions at a later date what was actually close to a trade deal with mexico and canada just last week house speaker nancy pelosi said that a breakthrough on the new trade agreement called the u.s. in ca was this is her word imminent president trump has been pushing for this new trade agreement but one of the groups pushing back or us labor unions the same labor unions whose workers were deeply her. by the way by the previous nafta trade
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agreement a.f.l.-cio president richard trumka told union members at a convention in maryland on monday evening that nafta had been a quote disaster for working people with maryland alone losing more than 70000 manufacturing jobs quote we've been lobbying the white house specifically on nafta for more than 2 years slowly but surely moving the ball down the field but we are not there yet he said quote let me repeat we are not there yet junko went on to say that getting the deal done right is more important than getting that done fast by the way the u.s. m.c.a. was signed by all 3 countries the us mexico and canada but a year ago but it has to be passed by lawmakers in all 3 countries including the us congress joining us now to talk about this issue and what ultimately be good for workers is former u.s. representative alan grayson allen thanks for being on. q. so let's begin here with the concerns over the u.s. embassy a really being nothing more than just well let's call it this nafta $2.00 which cost american workers millions of jobs so why should american workers believe that
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the u.s. isn't just really going to be more of the same well it is more of the same and there's no doubt about that if they believe they're right it's 2 or 3 ounces of nothing if we if you reach the point where the most important element of the deal is whether 62 percent or 75 percent domestic content is required the kind of cars being made in north america you are arguing over nonsense so there is only one thing in this deal that actually matters which is the fact that it gives you a path toward repealing that if you're willing to wait 16 years to do it. so now one of the biggest concerns over the u.s. m.c.a. is whether or not it's going to be enforceable and whether it will support stronger labor standards so what would the stronger standards look like. simply enforceability right now the labor standards environmental standards and the after are not enforceable at all let's say a the u.s. government decides to discriminate against canadian forest products well that
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company in canada can take the u.s. to court but let's say that mexico decides to completely were neg on its promises to have labor or environmental standards and by the way the minimum wage in mexico is about $0.50 an hour so you can say we're now use a good word to use there's nothing anybody can do to enforce that and that's been a flaw in nafta ever since it was created and that's one reason why our trade deficit which had never been one $140000000000.00 in any year before nafta took place have been $140000000000.00 or more every single year since the place the things that matter to workers labor protection of our own protection are completely on enforceable there's a group of would take a stab at making that forcible and i think back to i think it was 1993 that nafta officially really kicked in as the ice cream truck goes by the background and so he kicked in a 993 but if you go back to ross perot he was a presidential candidate who spoke about this warning about all the jobs that were
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going to go away when president trump got elected he spoke obviously a lot about nafta one of his major issues in running for the presidency was that he was going to repeal and fix nafta but here's the thing the u.s. it was a really doesn't change anything forget about you know the trade deficit and all that it really doesn't change anything either about jobs and that seems like that was the point the president was trying to make when he was running right he was going to bring jobs back does this trade agreement do anything to bring manufacturing back into this country it doesn't seem to only if you happen to make cheese because for the 1st time out of this agreement if it goes into effect we will be able to export cheese to canada assuming that the canadian dollar and let's that one go by they haven't voted on this yet i'm guessing that one's going to be gone. but right you're right there i mean it created this enormous imbalance in the north american economy that hasn't been fixed yet our trade deficit is now running about $2000000000.00 a day and that's the real issue with regard to trade doesn't have so much to do
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with tariffs or car manufacturing or anything in particular it's the fact that we are borrowing borrowing borrowing at this point about 14 trillion dollars worth of borrowing from other countries simply to create jobs in those countries including mexico including canada including china and that is an imbalance that this agreement doesn't address in the least you have and by the way i want to correct as i said 1903 my producer says it was 94 want to make sure i had that right but look i think what's frustrating about this is when you see all the issues that need to be dealt with in this country and republicans and democrats keep calling this something bipartisan they can work on but from everything that i've seen about it it doesn't as and as you're saying it doesn't seem to really do anything so how is it that the only bipartisan thing that can get done in washington is something that ultimately doesn't change anything give you the last word here well in fact what trump wants out of this is simply the ability to say that he said he was going to
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renegotiate and he renegotiated no matter that it ended up being the same what palosi wants is something fundamentally different she wants to see a road map to end nafta she wants to see labor agreements and environmental begin to be enforceable she wants to make the thing better and she's going to trump as little victory party for the sake of doing that i respect. representative alan grayson appreciate your time and your expertise on this thanks. ali baba will close its order books early as a secondary listing in hong kong have been multiple times oversubscribed the economist it will be issuing $500000000.00 new shares plus a $75000000.00 green shoe option and a 13 below. in dollars sale so why is it pushing through with a secondary listing now basic level this fresh capital injection is dry powder to sustain growth and drive user engagement at
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a time when both the chinese and the u.s. economies are slowing down on another level heightened tensions between beijing and washington have increased concerns that ray dollars prediction of an imminent couple to war could be on the horizon earlier this year there were rumors about a delisting of chinese stocks at u.s. exchanges and ali baba shares have also remained undervalued and discounted to amazon the local favorite on the u.s. market despite having comparable bottom lines amazon's $2800.00 net income reported 10 point one $1000000000.00 versus ali baba's $9200000000.00 just a difference of $1000000000.00 however amazon's capitalization is almost double that of $880000000000.00 versus $490000000000.00 its decision to push ahead with hong kong listing despite the increasingly violent riots have surprised bankers that appetite remains healthy the i.p.o. has also attracted significant interest from asian sovereign wealth funds and institutional and that helps to send the message that hong kong is still functioning as an asian financial center the offering could potentially put hong
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kong back on track to retain its listing crown for another year beating out new york who year to date raise 32500000000. really do you think wins that i mean obviously is much larger but it was not it seems like branding was has just been more successful well that goes to show that they have 2 very different markets amazon's primary market is more so b. to c. . b. to b. in manufacturing so that's also 2 very different things and ali baba is making tremendous progress in the cloud computing front and that's pretty much where you see the big difference amazon's net margins the margins are probably only about 7 percent. margins are at 20 percent and that's what accounts for the huge difference and that's a big big difference there so i know for a quick break but don't go away because the privacy protocol middle wimble you should stick around just for that name should no longer be considered a viable all turn. catcher minera when it comes to privacy we're going to tell you what one research analyst. and what it means ultimately for privacy and he continues over to the wildly popular app is now pivoting to other countries we've
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got that report straight ahead and as we go to break here are the numbers of the quotes. efforts to impeach and remove donald trump from the presidency have clearly divided the country this should not surprise anyone trump is probably the most divisive public figure of our time however all this division over a single person is changing and even damaging institutions is impeachment the normal. tense situation in venezuela is still all over the news the problem in venezuela is not that socialism has been
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poorly implemented but that socialism has been only implement from the inside venezuela things are different we're going to announce sanctions against. venezuela associated. famously have a supplemental. get out. the. moment. the whose story isn't new nixon called henry kissinger to tell him that it would not be tolerated in latin america an alternative economic and social system could take hold and therefore the policy would be to make. the chilean economy scream so wants to make the economy of venezuela screed. you know world of big. law and conspiracy it's time to wake up
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to dig deeper to hit the stories that mainstream media refuses to tell more than ever we need to be smart we need to stop slamming the door. and shouting past each other it's time for critical thinking it's time to fight for the middle for the truth the time is now for watching closely watching the hawks. this is a story about what happens austria stray bullets kills a young girl in the streets. what happens to her family daughters in florida the mother is very serious and terry is dealing this is with your head what happens to the community the public was screaming for a scapegoat the police needed a scapegoat so why not choose a 19 year old black kid with a criminal record who better to pen this than him and what happens in court be.
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shocked shocked as far as i feel. we don't know this is from. the end of this unfortunately you. know children. remember when a privacy protocol has been broken by research analysts i.b.m. bogey who publishes by names were feeling how he was able to anonymize 96 percent of all grant transactions i haven't concluded that number one goal should no longer be considered as a viable alternative to z. catch on. minera when it comes to privacy now to quine's have implemented this protocol grin and being so to simplify middle wimble works like one big question
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join a crustless method for combining multiple payments from multiple spenders into a single transaction before adding it to the new block like a big mixing pot this purportedly ensures anonymity and all transactions that end up on the same block but i haven't found that if you attack the transactions as they're being broadcasted to the big queen joined mixing pot to be mixed you can unwind the aggregation grid was apparently aware of this law already and have been working on a solutions that have not been yet released on the report green is down 10 percent and being down 6 percent i've been further suggest that mim wimble could be combined with another part of the protocol that conceals the transaction graph altogether that seeks to integrate and establish privacy features for the likely network. and that's really where it has the biggest issue right now right is because as it develops for like when you say privacy it has to be able to truly be private but at the same time it can't just be private at the final point when when
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the transactions done the coin as you mentioned it has to be able to be private all the way through and that's difficult to accomplish exactly so there are inherent flaws in all the privacy quine's that are currently in existence or the largest ones are going to be cash dash and minera. dash that's being very centralized power is the cash so far is the best but what it does what it what it is so strong in this computing power and its aggregation system makes it very expensive and it makes the network very slow so that's kind of like the downside of the cash dash being very centralized other than that dash is a fine option and if you like. that and then the now does have a couple issues with their network as well because they they run in the same pounds of coins and it's not entirely anonymous we can argue about that more later because i'm sure we will global taxes on big tech companies. level it's coming right but in the meantime a number of european countries are creating their own digital taxes for tech giants one of the latest the czech republic which is looking at
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a tax on companies that have more than $750000000.00 euros in global revenue and reach more than 200000 user accounts we know who we're talking about the tax still needs to be confirmed in parliament but if it goes through the czech republic would join other e.u. countries that are trying to rein in international tech giants because already both italy and france have started implementing their own digital taxes after attempts at putting together an e.u. wide tax filled last year and joining us out of discussions hillary for which board member with the british american business association hillary glad that you're here today because that is your so there is obviously this increasing push right to really resolve taxation in texas tech giants we're talking about facebook and amazon and apple google part of the reason for that though is because of the way these companies shift profits around the world. in order to minimize their tax bill correct yes absolutely in fact it's so common that it's actually known as double irish sandwich. for the fine so what they do and google is a good example of what they've done actually is they set up
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a subsidiary in the netherlands writes about the dutch part of the sandwich but the double irish is then they send some of those revenues go to through an irish google island subsidiary which then has an affiliate in bermuda where there's no taxation now this is 100 percent legal google has said well we pay 2726 percent taxes worldwide and it's legal 100 percent correct it is 100 percent legal 26 percent taxes overall how well it actually comes down to a single digit rate when you look at how they have been taxing those offshore royalty accounts because if you look at the no tax the none of the taxes from the sort of maneuver that i just mentioned overall globally it's more like single digits was little companies or mid-sized companies like mine in the rest of us you know we're paying 50 percent and i don't have an offshore affiliate. program so it's now some of these proposed changes they wouldn't actually result in much more revenues for the stimulation performed by the french council of economic analysis
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which they currently have the role of vising the french government found that a change in the corporate tax receipts would not be substantial for france germany the u.s. or china so why is that well actually it's very interesting to see that you mention particularly that instance because of course being french what are they doing are we always wonder whatever i read any single study i always wonder who originated this and where did it come from and maybe i'm cynical always think like i'm one of their motives just think about this should there be a global minimum tax which has been proposed extensively both in the e.u. and actually in the us should there be one think about 2 countries that would be adamantly opposed one would be the french and you might say why because they certainly would benefit from all the taxation the stocks the facebook's amazon. netflix and google why because the it's the the french have of course they have no way hennessy they have louisville on the way hennessy the l v m h and that's then they derive huge amount of taxes that says luxury global company
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from. hennessy and louis vuitton so they don't want it and also the dutch don't want it because of all the subsidiaries there so you've got 2 countries pushing back instantly and that's why the study comes out of france and says that you know the dutch don't want you to mess with their double dutch saying what you really really call it let's shift gears just a little bit here so there's a german bank that has made headlines with a negative interest rate say this again of interest rate on saving right from the very 1st euro sind adding fuel to the fire of the euro p. and central banks you know euro zone. deal here so yes are we expecting to see this . go to other places that you create a savings account with a negative interest rate and if so where would this be and who would be involved in really adding a little bit of comic levity that you would worley i'd like to add at this juncture the german sort of mass they have the mass media the tabloids to this build and they actually had a culture that it had drudgery of course the italian former president of the
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european central bank instead of drudgery it was count dracula with his findings of the blood dripping in other words sucking the blood out of all the german bank accounts or rather the di was a city like you is going to exactly but i think this is a good example actually of unintended consequences because the reason this was of course instituted was to try to encourage all the large investors and those with large deposits to invest their money in greater investments rather just sticking it in a bank account why because the banks make more profit that way so the banks are suffering the german banks are suffering european banks are suffering why are they suffering i actually think the solution is that they need to cut costs costs the very bloated they're bloated compared to you in the us competitors but the unintended consequence part is what instead of stimulating investment it's actually stimulating those with the vast funds to invest to go elsewhere and go abroad that's the major issue not to mention especially in the german economy where this is taking place they're also dealing with a heavily aging population so now you have exam dates danni's accounts as well as
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an aging population and you like the aging population generally unlike the graying of america tends to be more fiscally conservative and tends to save a great a higher rate why need to live off their c.v. drives that's where they are working for all this stuff exactly all of the 3 of us have a long way away from that hopefully so through to the board of a board member with the british american business association always good. to ben thanks. take talk has over a 1000000000 users worldwide but is now the subject of intense scrutiny this after growing concerns about its collection of user data and whether chinese censor content seen by. u.s. users are terry chavez has the story. the popular now tech time may look like something. but that's not the case at least not now this after growing concerns about its ties with china the c.e.o. is now speaking out denying any allegations of chinese censorship and accusations
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that the company shared user data with china the app is now shifting its focus to new markets as it tries to distance itself from being labeled a chinese up page it's the social video app that went viral seemingly overnight from singing. to dancing. the platform allows users to share 15 2nd videos doing pretty much anything. on the platform garnering more than 1500000000 downloads worldwide the fact that to talk grew so fast as a chinese native application was very surprising to technologists but its rapid growth has caught the eye of the u.s. government lawmakers fearing that the app poses national security risks with its roots in china and relationship with the chinese government is growing that the app is censoring content deemed offensive to china's government including videos dealing with social and political topics personally i think that it's very likely
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that talk has ties with the chinese government even though they haven't they said they publicly stated that they they don't is because you know just culturally the chinese government is is just everywhere it is it has imbedded itself in every aspect of society that the line between the private and the public sector in china is not so clear cut as it is here in the u.s. and while by downs tick tocks chinese parent company is facing a probe from the committee on foreign investment in the united states tick tocks chief is speaking out in a recent interview with the new york times alexander says the. it's users don't go to the pa forum for political discussion but this sort of content is allowed as long as it aligns with tick tocks creative and joyful experience and said that if asked to do so by china's leader exceeding jinking he would turn him down but it appears that tech talk isn't as independent from by doubts as they say according to the washington post former u.s.
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employees say that moderators of beijing have the final say although tech talk maintains that the content moderation for the app is handled by u.s. employees that despite the recent scrutiny the app has still been downloaded more than a 1000000000 the half times worldwide 80000000 downloads right here in the u.s. alone now the company is focusing on adding users in other markets outside of the u.s. that maybe aren't so popular reporting in new york city each other as art. or do you love 2 that chicken from popeye's imagine how much the people in china my love it because popeye has no thought it's 1st lease in china as it looks to take on k.f.c. the least in shanghai for its 1st store in china which by the way is scheduled to open next year the company says it plans to build 1500 restaurants in china in the coming decade but you know popeye's let's face it has made a lot of headlines here in the u.s. lately not good ones with the release of his chicken sandwich which somehow we don't know how but somehow is constantly of the center of fist fights and brawls 'd
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and in one case a deadly stabbing in maryland. it's kind of bizarre right then i go to the lines to get some chicken right and then there's videos of like workers there's such a demand like there was one worker who was making the sandwiches over an open trash can because there was no counter space and it just feels like with all the hype around this sandwich is that a terrible job of creating a feeling around it that is people wanted and desire it and so we want to give it to them because it's a positive thing instead of it being surrounded by this feeling of death and destruction i run a sandwich exactly everything is hype will always. die down you can't sustain growth like this over hyped because that's something that's artificial and that's all something that's only temporary because this feels like anything like a black friday stampeders on something that only lasts for a couple days you would think exactly so now putting this in china the got to be a very interesting experiment and we'll see how many chinese people fight over it that's it for this time you can catch the must on directv channel 321 dish now our
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challenge 280-2471 pluto t.v. the free t.v. . or as always hit us up at youtube dot com slash boom bust or d. we're going to chicken sandwiches we'll see mix them. up and planning another one of our esteemed ways or both to assume. they could still move it to. this would go to dog try hard not to feed the mother decided to move the work ahead and i don't miss dorrit going to be. the only thing that we do is music because everybody fights use wait.
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for the food look out it is going to the studio that you have the ability to put it on the. what i see is this is the fun that is a little comfort. markets are making new all time highs so interesting the money that is being forced into the. markets like draining into the liver of a duck farm it has to come from somewhere. to get us a little bit more. good food descriptions sound up
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a tasing even for the owners so how to choose the pet food industry is telling us what to feed our pets really more based on what they want to sell us then what's necessarily good for the pet turns out put food may not be the best people belief we have animals that have you know diabetes and arthritis they have auto immune disorders allergies we are actually creating these problems it's a huge epidemic of problems all of them i believe can be linked to very simple problem of diet and some dog owners so heartbreaking stories about their pets less treats a larger corporations are not very interested in proving or disproving the value of their food because they're already making a $1000000000.00 on it and there's no reason to do that research. and.
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this is a story about what happens auster a stray bullet kills a young girl in the street. what happens to her family daughters in florida law the mother daughter is buried in a cemetery meaning messes with your head what happens to the community the public was screaming for a scapegoat the police needed a scapegoat so why not choose a 19 year old. that kid with a criminal record who better to pin this on than him and what happens in court be. shocked shocked as far as i feel. we don't know childress is truthful. and to this unfortunately you too will still love no children.
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but a mere putin has title be global economy ascensions and relations with the us of a top forum in russia. how is she sent a military police to kill us like animals we're not animals for them to kill us like now the death toll in bolivia anti-cult protests rises to $27.00 as the country's self proclaimed leader gives the security forces the impunity when it comes to dealing with unrest. and french police are accused of using weapons of war by a journalist leftist severe facial injuries who claims he was hit by a tear gas grenades while after 40.


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