tv Boom Bust RT December 20, 2019 8:30pm-9:00pm EST
well. as the review continues and we found out more i was surprised about the extent and the degree to which the collusion was involved in some of those cases the killers were delayed to be named. and we're getting i think it went to do very very top i think. they want to know where all the patients you walk to school and give the go ahead. so this is good but broadcasting around the globe and covering the world of business and finance and the impact on us all on binswanger and i'm christiane washington here's what we have in store for you today coming up google is facing
a new find from the e.u. over the funny advertisers why are the french call the rules actions brutal and unjustified plus while i may be losing out on 5 year contract and it could be thanks to pressure being applied from washington well right down the latest and no matter how you feel about the price of big today turns out the leading cryptocurrency is far enough the best investment of the decade we're going to tell you just how good it has been this is the one show you can't afford to miss so let's get started. and we begin today with reports that a facebook database was hacked and data belonging mainly to u.s. users was posted on the hacker forum last week we're talking about hundreds of millions of records so joining us now to break down this is boom bust course want to surmount as they all get their thanks for being here all right so once again facebook has another breach data goes missing it shows up on this hacker forum how many people are we talking about being affected we're talking about a little more than 260. 7000000 facebook users now this includes their full names
and phone numbers so people need to really watch out for this i mean a report by technology the web site compare it's herrick and security researcher bob. said that a criminal organization posted the information on to the hacker for another problem here is that it was taken down on thursday but this was after recent research reported it and the data actually posed was posed posted as a download which means that the users still have the information so just because it was taken out it doesn't mean that it was gone other researchers said that the information could be used to text people use some people need to look out for to text messages the numbers they don't know and mainly they're saying that looking at other other threats to this it was a kind of a large scale with some fishing campaigns but here's what we know as far as the timeline of when it with the exposure hoppin so on december 4th the database was
1st indexer december 12th it was posted as a download on this hacker forum and then on the 14th to go discovered the database and immediately sent an abuse report to the i.s.p. managing ip address of the server and on the 19th it was then unavailable so the data was up and running for a few days so there obviously this is a massive breach so how is facebook responding to this well it's no surprise that they're not saying very much i mean this isn't the 1st time that it's happened facebook said that it's looking into the investigation and that it was quote likely information obtained before changes we made in the past few years to better protect people's information but before 20 teen developers could easily access some of facebook's application programming and they're saying this was also when users tended to put up their phone numbers but that is no longer available so those are saying that could have been it but compare a text of that facebook may also have a security hole that could allow criminals to. really access user i.d.'s and phone
numbers even after access was restricted but again this isn't the 1st time in 20 teen this happened before this happened also in september where a sick charity researcher found another database with 419000000 records tied to facebook accounts and 28000 where information of 29000000 users was available on a kind of the same put on a platform and even earlier this year where 20000 facebook employees said that they had usernames and passwords of over 600000000 people yet but facebook's in health care of course look at all that when they're saying that they're coming up with this new program what is it the setting up the privacy committee that will be separate from its boards right so there are the future is privacy is what they're saying but i mean they've got the reputation of pretty pretty ruined by this point yeah we were facebook says oh it's probably came from before 2000 and they have no way no way right now of verifying that right they're just throwing that out there and the fact is in order to have a facebook account you have to have
a phone number do you not i mean it seems like everybody has to have it because they call that their 2 factor authentication even though you have it it's not necessarily after 20 teen they do not permit you to post it in your on your profile so i think that that's where the hacks may have come that's what they're saying right that it came from basically publicly available information but again if you're talking about 267000000 people it's very possible this was not public information absolute it was information that somebody got into the database it's a logical one of their money is they'll get thanks so much for your time you. one other day another you find for google's parent company alphabet in this time francis competition authority has following the alphabet 167000000 dollars for unfairly suspending advertisers that placed allegedly deceptive ads from google abused its dominance for those market ads displayed in search results by suspending those advertisers and friends the claim here is that google suspensions happened in unpredictable fashion imposing significant losses to. those sites authorities have
ordered google to pay a fine and to stop what they call quote brutal and unjustified suspensions clarify the rules for its advertisers and this kristie is essentially the problem that we keep seeing over and over with these guys yeah but the fact is they're not really being punished because this is like barely a drop in the bucket for google in fact it's flat on trading but we can't till if you're an advertiser you can't tell exactly what the rules are so when google says we're publishing all these groups they're doing it under this kind of umbrella of they're using deceptive advertising practices but they don't very clear what that is right and that's not exactly an you don't dawdle and you see this in google uses across facebook and instagram where they take down posts saying that this is against our guy lives without being having any notice of what those guidelines even are we'll see if it changes. well the u.s. has urged ally nations to freeze out fall away now over allegations of cyber security and national security concerns washington has told allies out fall way could be used by china as spying tools an allegation denied by fall way as there
has not been any hard evidence of this to appease the u.s. deutsche telekom announced that it would not enter into a 5 g. network contract until there's a resolution in berlin as to whether or not to restrict access to the german market deutsche telecom was previously deep into discussions with where huawei would provide 70 percent of radio transmission gear for the networks of upcoming 5 g. that totals 587000000 now the decision on security rules for 5 g. will be delayed until next year meanwhile over and greenland it had sided with the us narrative as a country chose sweden's ericsson over china's huawei to supply equipment for 5 g. this decision comes as the u.s. is increasing pressure on its allies to exclude huawei from lucrative deals and after president donald trump offered to buy greenland from denmark as part of a broader strategic push into the arctic.
well so much talk about the great you as m.c.a. a trade deal that is so much better than after right if you watch the show then you know that we have been critical of the fact that the u.s. in ca it's really not a vastly better deal well now new analysis from the congressional budget office shows this that the new trade agreement will actually cost automakers nearly $3000000000.00 more in tariffs over the next decade for cars and parts that will not meet higher regional content requirements over the next decade this on the heels of the head of the united auto workers union stating that the u.s. in ca will not provide more jobs to auto workers and will not return a single auto job to the u.s. joining us now to discuss is the car coach lauren fix lauren thanks for being here thank you for having me so what are we missing here because there seems to be this huge disconnect between what politicians are saying about how the u.s. embassy is going to affect the auto industry and what the c.b.s. show and auto workers unions are saying about this. there's a lot there's a lot here so you have to remember that we're increasing the percentage of
components that must be in a vehicle that's the top thing so it was 62.5 percent of the components through the nafta which is the old agreement had to be somewhere from the united states now it's 75 percent of those components can no longer be purchased by china and then shipped to mexico or mexico who could falsify the documents and ship it to the u.s. and say oh yeah all these parts came out of mexico so that was what was happening is they're getting a lot of chinese components being shipped in through other countries so now we're forcing this through this agreement to be made in the u.s. so that will be good for suppliers which means jobs that's good for the economy so that's great for the united states and it's also means they're going to be union jobs in many cases now it's not going to help the union in every single case because it depends where the manufacturing location is located if it's located in a right to work state they don't have to have a union but that also means that the average worker which is 40 to 45 percent of the building of a car has to be $16.00 an hour or more so this could actually raise the wages for
mexican workers which is good for mexico so that's why they like it but it's also good for united states because there will be more jobs coming here and the u.a.w. is frustrated right now you have to remember they're fighting for credibility because after that 40 day delay with general motors and then midst of all that they had all those indictments with all those executives going to prison they're trying to say we're fighting for our staff for people for our members and so that's kind of why you're hearing a little bit of that from the u.a.w. but the bottom line is it's going to be good because we're going to pick up about $300000000.00 in tariffs as product goes back and forth across the border some will be taxed much of it won't be and that's good for all countries whether us canada or mexico which is why they all agreed to this now is move on to some n.a.m.a. activity that's going on in the space chrysler 'd and go have signed a $5050.00 merger deal that will unite some of the most recognizable automobile brands under one company so how is this going to make the these companies more
competitive in space. i think it's going to be great actually i think is a better move for chris sort of merge with peugeot or p.s.a. versus going with ray no and mitsubishi and nissan and the reason for that is well 1st off there's an interesting story behind it i'll give you the short version is that john elkan who also met with robert peugeot for dinner just a couple nights before all this happened and they agreed they're old family friends but also friendly rivals from the 1890s that they would work together rather than fight each other to share platforms of technology and engines and drive lines in this regard to sharing instead of being enemies being friends means ople pujo and feel that chris are brands jeep bram and so forth chrysler will all work together that's good and that will make them the 4th largest car manufacturer and they will be competing against reno mitsubishi nissan now and they know where their weak spots are and this will make them very strong so this is really really good for them for the auto industry it will bring jobs to the u.s.
we won't lose jobs here but also bring some of their products here and some of our product to europe going to be very interesting to see how that shakes out lauren fix the car coach thanks so much for your insight thank you. we're in the middle of the annual santa rally here as uncertainty fades and optimism for 2020 rises let's see how we ended up for the week over in russia the molex was up for the week led by tech and investments and tech spear bomb mailed are you and yandex led with spear by russia's largest lender announcing the launch of russia's fastest supercomputer russia is also planning on making a big push into tech for 2020 as russian venture company one of the biggest funder fund announced plans to support early start ups operating in robotics quantum communications and green tech over in asia the shanghai composite rose 1.3 percent on the week as china and the u.s. continue to take steps to deescalate their trade conflicts shanghai cut this l.p.r. benchmark lending rate unchanged friday after the central bank borrowing rates on medium term loan study china also announced that additional stimulus is not
necessary at this point as the economy was actually stronger than predicted with manufacturing and retail sales surprising to the upside over in japan the nikkei fell slightly as the bank of japan kept its monetary policy and changed the bank downgraded its view on industrial production and expected domestic demand to be limited japanese auto also took a hit in response to a new trade deal with the u.s. and ca done the hong kong the hang seng posted its 3rd straight week of gains local property stocks rallied and for the year despite the china u.s. trade war despite the 7 month long protests and despite the uncertainty we've had for the entire year the hang science is still up almost 8 percent which is quite significant given all the fears in the market this year over in india the sensex was up over 1.6 percent this week hitting an all time high of 41809 would lead by gains in banking and auto however the losses and consumer goods limited the upside well expected see some short term consolidation next week as investors start to
book profits after this massive santa rally and now in australia the a.s.x. is up for the week where hit its highs early on monday before leveling out as the down. in the country's growth outlook field expectations are up for their domestic rate cut resources and minus advanced and close their strongest session since august and finally over in south america the all shares were up finally at the u.s. and asia as their respective markets rallied to new highs now banned for the rest americas and europe all right christine thank you for that were over in europe let's begin there the cac is up this week as it continues to trade higher as long as price stays inside the channels of the trend remains pointed higher in fact the cat could be on track trading to the 2007 high the dax is in good territory in fact remains near record high territory but it was actually down to sweet in fact that most of the week easy back from the 18 month high seen on monday but thursday it did see a small bounce from that 13150 that might signal a near term low has been created over in the u.k.
the footsie is up as it has eased out some more gains this week maintaining the upward bias seen since the beginning of the month compared to last week of course the rise has been pretty small but the bank of england was in focus in london on friday after andrew bailey was named the next governor of the bank replacing mark carney over in south america the evo vesper had another very good week finishing up as it continues to stay in that record territory the evo vesper has increased 23719 points or 26 percent since the beginning of 2019 sliding up here to north america and the b.m.v. in mexico is up and here in the u.s. all 3 major indices are up as well in fact all 3 scored record highs again on thursday unfazed by president impeachment for finding ongoing support from the u.s. china trade deal the passage of the u.s. embassy a trade deal to replace nafta by the house and the improving economic data again this is pretty significant as the impeachment of a sitting president did nothing to shake markets which as we've told you is likely
because the markets know that impeachment is really just always show and then jump in north up into canada here the t s x is up this week as well as canada's main stock index push to a real. high in late morning trading powered by gains in the key financial and industrial sectors and that is this week's market walk. time now for a quick break but hang here because just on the other side of the break no matter how you feel about the price of big point today turned out the leading cause the currency is far and above the best investment of the decade well tell you just how good it's been and as we go to break here the numbers at the close. all of us move hopes it has been able to learn from the babies but so is
a behavior that appears even in death i'm going babies even if you never heard of seen love to you will love if you're tickled by your parents. and then we learn how to use this in a more complex way i'm one of the things that we learn is to how to join in with love to contagiously to love when somebody else loves even if you don't know why they love things. i had a spiritual experience. and i had the little girl that died in the fire sent their collins. 5 year old son we're looking for a kid reaching. 54 years old and 21 years on death row hard. crime i didn't commit. i only knew that he was innocent and red to blue collars that nobody but. you know
this year it is officially retail pocalypse and with a record of over $9300.00 stores closing across the nation and 2019 core site research released this year and reports citing that it's almost double that of the $5800.00 stores are closed and 20 among the stores that shut down we have familiar names such as jim murray victoria's secret c.v.s. abercrombie and fitch game stop barney's new york and more so from this you can see that this was not an isolated event in the discount and fast fashion segment but across all major retail segments including high end specialty consumer bankruptcies intensified this year and analysts predict thousands more as online shopping continues to replace purchases at physical stores online sales make up about 16 percent of retail today but will rise up to 25 percent by 2026. ripoll labs the company behind x r p just closed a $200000000.00 series see lifting its valuation up to $10000000000.00 now this round was list led by god and jack but japan's s.p.i.
holdings and route $66.00 vendors who also participated ripple is the clear leader in cross border transactions and they're capitalizing on the weaknesses of the existing swift system and now has over $300.00 financial services customers globally this firms has signed partnership deals with giants including american express money gram pay pal and more x r p is the world's 3rd largest crypto currency now and pop 3 percent on the news today joining us now to break this down to stephanie tucker the editorial director with the american institute for economic research so jeffrey this is really exciting rebel labs has been on a tear with a 350 percent increase over last year and consumers sending live payments so given all this traction why haven't we seen more of a movement in x r p the currency despite all these milestone that ripple lives the company has hit . well we have to remember that excerpt here is a different specific kind of crypto stop the crypto anybody dreamed of happening in
2009 when crypto 1st entered into the world but is a brilliant technology in the sense that it's a mediated technology it's proprietary technology and a lot of these sort of regular man on the street style in vespers and crypto are not interested in for that reason that doesn't mean it's going to change the world i think it's a extremely important technology because it's it's thriving off the failures of this antiques 1st system as you mentioned you know our legacy financial systems are incapable of dealing with the new age of globalization so this is take is taken crypto to kind of kind of fill this market need. to make these beautiful things happen and i s.r.p. has been really valuable in that in that sense but as a token i think it's probably more valuables in its stability as a token then it is as big as as a medium for 'd. cross border payment systems that sort of thing yeah you know and
this is a bit of a surprise i don't think anybody expected this they're going to say in 2009 all the way in 2013 yeah certainly report you know as you said it's not the traditional crypto certainly is not decentralized by any means it's like heavily centralized but one of the biggest question holders is whether or not it's going to be classified as a security right this is pretty highly debated here so where do you stand on that because you know the i.c.c. was the whole everything a security that they don't understand i don't yet know you said it exactly so here's the problem these old categories actually don't pertain to these new technologies writ which are really ownership over rights to a protocol it's not the same thing as the security is not a secure it's just not what we're trying to do is reclassify these modern super modern 21st century technologies and old 20th century. categories that doesn't actually make in the sense and why we doing this just so we can make the regulations save the regulations and save the regulators and save the bureaucrats
so they can control it but none of it makes any sense the reason why it's taken so long for these decisions be made is that they don't qualify as traditional securities there's something new entirely i think you know in the end washington bureaucracies are going to have to get used to the fact that we live in a progressing world where we have new kinds of things we've learned that private money is possible we've learned that payment systems and money can be wedded together into the same technology that was never true even 15 years ago so we're going to have to have some movement here on the part of the politicians and the bureaucrats to realize a new reality has dawned and it got and it was dawned in january of 2009 when we 1st saw the big home could actually work now a japanese financial giant f.b.i. is one of the key investors and ripple for years since the beginning so they have now partnered up with germany 2nd largest stock exchange of course stuttgart grip in order to promote the adoption of crypto and the demand for digital assets in
europe and asia so now the institutional are fully on board what the landscape looked like for 2020. 2 the big change that's happened in the in this whole crypto sector has unfolded sort of gradually over the last 12 to 18 months i think we're getting a new recognition that the underlying technology of block jane is the coolest aspect of all of this stuff and it can be adopted by mainstream financial institutions what's remarkable here is that the great vision if you want to call it that of a dissenter mediated future that many of us have held that i still hold it you know i do i do. from 10 years ago all the way today is not unfolding in the way that we imagine that what we're seeing this block change technology is being. absorbed by the existing intermediated structure. as a way of improving the. existence systems are one of what you know i'm not going to argue with the market the market is speaking right now and there is an in-between
stage between nationalized currencies and fully privatized currencies and that is a intermediated private private currency that painless as was in together with the new token and that's where we are today you know and i believe in markets and i think we have to recognize as intellectuals we have to recognize that the markets are speaking to something that's true sure that grew quickly only about 30 seconds here but i want to get your take on this because over the course of the deck it right it's up 9000000 percent i don't even think there's a question there it's up 9000000 percent and people call it say that this is not a store of value you got like 20 seconds hit me. book it depends on when you got in right and if you got in last year you've made a lot of money forgot in 2 years ago you lost half your money so yeah it's an edgy volatile technology but the smart money was in very early and those people have done very well for themselves i must say that's right by the way there's only 434 days in the history a big point where if you got in you're worse off so sorry if you're one of those
people jeffrey tucker the american institute of economic research thanks so much for your insight. 321. and lift off the rides of starlight you were human spaceflight. you know we're a maybe it was just thursday when we told you that boeing would be launching its 1st test flight of the starliner space capsule a launch that in the future plans to involve human travel into space and at the time i stated what could possibly go wrong well now we know because on friday the starliner launch as you see there without astronauts with no problem and then separated from the booster exactly as planned after roughly 15 minutes but then there's that then instead of powering up the capsules engines to start raising it to orbit controllers delayed the maneuver because they determined that the starliner was not in the proper orbit in short starliner will not dock with the
international space station as planned and will instead return to white sands missile range in new mexico what could possibly go wrong at least i want any humans on board that's right you've got to learn right let them learn that i was going to happen next time there has been a fix that it didn't go up and didn't blow up i guess that's a positive they didn't waste hundreds of millions of dollars yeah i mean you can you get to try again so they're calling it a software issue i think we've heard that from boeing before though software issue but this time again i think they'll be cross-checked to what they're actually saying that's. today that's over this time you can catch by must on directv channel they tell you one dish network child to 80 or is to me 247 on player t.v. the free to see about your next time.
during the great depression which are old enough to remember there was most of the family were unemployed or people and there wasn't it was bed you know much worse objective listen today but there was an expectation of the things were going to get better. there was a real sense of hopefulness there isn't today today's america was shaped by the turn principles of concentration of wealth and power. reduced democracy attack solo. engineer elections manufacture consent and other prince holds according to no on. one set of rules for the rich opposite. that's what happens when you put her into the. narrow sector of will switch rule is dedicated to increasing power for chills just as you'd expect one of the most
influential intellectuals of our time speaks about the modern civilization of america. understanding of shell is that it's a money loser from day one but it doesn't matter in the u.s. because all the creditors to lend money into the shell industry are constantly being bailed out by the central bank that prints money that's why they do it for the fees it's great for the banks but it's not an energy play at a spot of. business it's a sink hole but here as you point out in argentina so they can't just print their way out of a losing situation and the economy is already a bit fragile you don't want to add another loser into the mix like shale drilling void a completely. russian
officials reveal the identity of the gunman who killed 2 and injured 5 in a shooting near the federal security service building in central moscow we spoke to the father of the attack and. he became very secretive and also got some kind of strange beast an accident used to tell me that he liked shooting even wants to get the speech right become a most. often more than 3 years of deadlock and numerous rejections the u.k. parliament finally fax prime minister boris johnson's bricks and withdrawal agreement . the 60.