tv Boom Bust RT December 21, 2019 5:30am-6:01am EST
by the pinkerton men. so that is your news wrap for this hour that's how things are looking more from us in the back 30. what poses you should. they put themselves on the line to get accepted or rejected . so when you want to be president and you. want to be rich. but you're going to be the 1st to see what was before 3 of them or can't believe that i'm interested always at the water's edge. so what we've got to do is identify the threats that we have it's crazy to sort of
do you shouldn't let it be an arms race is on all sides very dramatic development the only relief i'm going to resist i don't see how that strategy will be successful very critical time to sit down and talk. this is good but broadcasting around the globe and covering the world of business and finance and the impact on us all on been small 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 suspend the advertisers why are the french calling gould actions brutal and unjustified plus while they may be losing out on 5 key contacts and it could be
thanks to pressure being applied from washington well break down the latest no matter how you feel about the price of big coin 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 the. belonging mainly to us users was posted on the hacker forum last week we're talking about hundreds of millions of records joining us now to break down this is google's course want to surmount is that there are things for being here so once again facebook has another breach data goes missing it shows up on this one. how many people are we talking about being affected we're talking about a little more than 267000000 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 text messages the numbers they 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 semi spam with some fishing campaigns but here's what we know as far as the timeline of when it with the exposure happened 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 they 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 in from. 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 saying that could have been it but compared tech said 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 and kind of the same put on a platform and even earlier this year were 20000 facebook employees said that they had usernames and passwords of over 600000000 people in facebook's health care and of course look at all that when they're saying that they're coming up with this new program what is that 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 there are 2 factor authentication even though you have it it's not necessarily after 20000 they do not permit you to post it in your on your profile
so they think that that's where the hocks 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 was of course one of their money is they'll get things so what you're telling you. what other day another you find for google's parent company alphabet in this time france is competition with already. is following the alphabet $167000000.00 for unfairly suspending advertisers that placed allegedly deceptive ads for google abused its dominance for those market ads displayed in search results by suspending those advertisers in france 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 tell if you're an advertiser you can't tell exactly what the rules are so when google says we're punishing all these groups they're doing it under this kind of umbrella of they're using deceptive advertising practices but they're not very clear on what that is right and that's not exactly and you don't donna when you see this in google you see is across facebook and instagram where they take down post saying that this is against our guy lives without being having any notice about what those guidelines even are we'll see if it changes. well the u.s. has urged allied nations to freeze out fall way now over allegations of cyber security and national security concerns washington has told allies out could be if i 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. it had sided with the u.s. narrative as a country chose sweet and eric sent 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 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 is really not a vastly better deal well now a 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. in ca is going to affect the auto industry and what the c b o 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 so 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 in the 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 and go have signed a 5050 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 chrysler to merge with peugeot or p.s.a. versus going with re no in 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 opal pujo and chris are brands g. 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 bombed melgar you and yandex lead with fear about 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 unchanged 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 a 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 any other sense x. was up over 1.6 percent this week had an all time high of 41809 and it was led by gains in banking and however the losses and consumer goods limited the upside well expect to see some short term consolidation next week as investors start to book profits after this massive santa rally and now in australia the ass axis up for the week where had its highs early on monday before leveling out as the downgrade in
the country's growth outlook field expectations of a further 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 following the lead of the u.s. and asia as their respective markets rallied to new highs now banned for the rest americas and europe 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 this week in fact most of the week easy back from the 18 month high seen on monday but thursday it did see a small bells 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 kearney 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. well 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 all the show and then jumping north up into canada here the t s x is up this week as well as canada's main stock index pushed to
a record 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 a coin today turned out the leading cause that currency is far and above the best investment of a decade well tell you just how good it's been and as we go to break here the numbers at the club. is you'll be a reflection of reality. in
the world transformed. what will make you feel safe. isolation community. are you going the right way or are you being. what is true what is. in the world corrupted you need to descend. to join us in the debt. or a mate in the shallows. despite the record breaking holiday sales in the u.s. this year it is officially retail pocalypse and with a record of over $9300.00 stores closing across the nation in 2019 core site research released this year and reports citing that it's almost double that of the
$5800.00 stores are closed in 2018 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. ripple labs the company behind x r p just closed a $200000000.00 series c lifting its valuation up to $10000000000.00 now this round was list led by tetra 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 their 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 is jeffrey tucker the editorial director with the american institute for economic research. so jeffrey this is really exciting ripple 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 milestones 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 a 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 taking 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 and 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 other
would 2013. 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 like oh everything is security that they don't understand i 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 or 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 have 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 in 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 the japanese financial giant as the eye 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 institutions are fully onboard what the landscape looked like for 2020. i'm telling you 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 of the way the 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 and 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 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. look 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 and 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 there weren't any humans on board that's right you've got to learn right live and 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 try stick to what they're actually saying that's. today that's over this time you can catch my must on directv channel they tell you one dish network child to 87 on planet t.v. the free t.v. ad touted the mina or as always you could have us up at you tube dot com slash boom bust r.t. to see about your next time. in the troubled 19 seventies a group of killers rampage through parts of northern ireland that was coordinated
loyalist attacks protect the only population in belfast tens of thousands for forced to flee their homes come up with strike and put these attacks was that the are you see the police actually took part in the attacks so instead of preventing it they were active participants in the burning of coal streets in belfast take more than a 100 innocent civilians with blood as the review can seniors found out more i was surprised about the extent and of the currents which the pollution was involved in some of those cases that killers would lead to be named 3rd to the now we're getting i think it went to the very very top i think it the cross the water where all the patients you thought was going on and give the go ahead. one of the things that i started to realize is that the noise in my head as it me i
started the practice of organizing my wife around what i wanted my life to be about even when it conflicted with my internal annoyance so you know why i wrote a book but in my head i'm not smart enough people like me don't write books. but what i held myself to it was the action and i started to notice that i could co-exist with that while still living a life that went beyond. the to.
react angrily to the latest u.s. sanctions on russia's nord stream to gas pipeline to germany branding and interference and domestic affairs as the project's main swiss contractor pulls out over washington's tough penalties. plus the us court rules that it's ok for american spy agencies to collect data on citizens without a warrant by accident that as the lessons are and i say whistleblower edward snowden who lifted the lid on u.s. mass surveillance seem to have been forgotten. you tell us who edward snowden is. soon not to. knock. down with a. permission.