Bob speaks with Chris Martenson, owner of Peak Prosperity.com, at the Casey Research Summit (http://www.caseyresearch.com) about asymmetrical Fed policy. The Fed buys high and sells low as part of QE. But how does this work -- or not work -- in reverse, when the Fed begins its exit strategy? https://www.youtube.com/watch?v=71hA1l_IzjA
Hotels are having a massive expansion all around the world! Luxury and adventures are spurring on more travelers, but what trends are hotels chasing? Hilary Fordwich is back as she examines the hotel industry expansion with Bart Chilton. The saga continues as Trump enacts more tariffs on China. Caleb Maupin and Alex Mihailovich join Bart to discuss the implications and what this means for US/China relations. That and more on Boom Bust! [1046]
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Markets are slumping after the Federal Reserve put a halt to buybacks and imposed new restrictions on the US banking system in the midst of the COVID-19 pandemic. While the airline industry has struggled in recent months, some big changes could be coming to the sector. Labor unions representing thousands of airline employees have asked US lawmakers for another bailout as demand plummets due to the pandemic. On the other hand, the EU is set to rule on whether they will open their borders to Americans in the coming week.
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There’s been a huge breach in security at JPMorgan Chase! According to the bank, some 76-million households have been affected by a cyber-attack. What does this means for JPMorgan Chase’s clients, shareholders, and the overall security of our banking system? Erin weighs in.
Then, Erin is joined by Patrick Chovanec – Managing Director and chief strategist at Silvercrest Asset Management – to talk about China. Chovanec weighs in on whether the Hong Kong protests present one of the biggest challenges since Tiananmen Square. He also gives a view on whether China can deal with debt at 250% of GDP without crimping growth excessively.
After the break, Erin talks to Pippa Malmgren – a policy expert and the head of the DPRM Group and Principalis Asset Management – to discuss the dire situation in Europe in particular. Malmgren is bullish on US growth and sees Europe lagging both in terms of growth, but also in terms of currency effect. She believes given the constraints on the ECB’s mandate, the ECB will be hard-pressed to pull Europe out of the malaise tipping the periphery into deflation.
And in The Big Deal, Erin and Edward Harrison talk about the European Central Bank’s decision to not cut interest rates. Take a look!
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Our lead story: Everyone knows that Walmart is a low cost retailer. But not everyone knows that customers banking within Walmart do some of the most expensive banking in the country! Walmart banking customers pay extraordinarily high fees, a large chunk of which come from overdraft charges. Erin brings you the details.
For our interview today, we talk with Gerald Celente of the Trends Journal. He talks about the possible outcomes of the conflict in Ukraine, the possibility of a new cold war, secular and economic stagnation, and Fed policy. Check it out.
In today's Big Deal, Edward Harrison and Erin talk about Etihad's luxury airline suites. It's like a hotel in the sky. Take a look.
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Shares in China fell for a third straight day as a second round of major sell-offs continue to engulf Chinese equity markets. The Shanghai Composite index closed down 1.7 percent after recovering from a 4 percent loss in early trading. As for the Shenzhen composite, that closed down 2.2 percent after falling more than six percent earlier on Tuesday. But China is no stranger to this kind of volatility. Ameera David weighs in.
Then, Edward Harrison sits down with Axel Merk – president and CIO of Merk Investments. Axel tells us if he’s concerned about narrow market leadership in US markets and gives us his take on if Fed rate hikes could have any impact on market psychology. Merk has incisive commentary on China and precious metals as well.
After the break, Bianca Facchinei takes a look at a price caps on egg donations. Two women in California filed a federal lawsuit challenging the fixed price that fertility clinics set, claiming they’re blocking women from a free market to sell their eggs while reaping anticompetitive profits.
Afterwards, Edward is joined by David Beckworth – assistant professor of economics at Western Kentucky University and adjunct scholar at The Cato Institute. David talks to us about a recent article he wrote, in which he argued the Fed kept interest rates too high after the Great Recession.
And in The Big Deal, Ameera and Edward talk about the US economy. With house price gains levelling off and consumer confidence suddenly weak, is the Fed likely to hike rates? Economists are less sure.
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North Korea’s cyber espionage programs are some of the oldest in the world, starting all the way back in the 90’s. Ross Rustici from Cybereason briefed members of the U.S. Congress on what kind of threat the North Korean’s truly pose. Countries face impending droughts; crop shortages in the US; and ads are getting the axe! That and more on Boom Bust! [1036]
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Ameera David details how the US has called for a 256 percent tax on imports of Steel from China. That’s after a US Department of Commerce investigation found that corrosion-resistant steel products from the country were produced at unfairly low prices. Then, on Wednesday, a New Zealand court ruled that Internet entrepreneur Kim Dotcom, who’s being accused of masterminding one of the largest copyright infringements in history, can be extradited to face trial in the United States. Ameera David reports. Afterwards, to talk about the Trans-Pacific Partnership, Melinda St. Louis, International Campaigns Director for Global Trade Watch, is on the show.
After the break, to continue the discussion on the TPP, Ameera spoke to Steve Hanke, professor of applied economics at Johns Hopkins University and director of the Troubled Currencies Project at the Cato Institute. He gives us his thoughts on why the deal is “managed” trade, not free trade. And in The Big Deal, Ameera talks to Boom Bust’s Edward Harrison about the case of Fanya Metal Exchange. Over 200 thousand people sunk $6 billion into the trading platform before realizing that it may in fact be a Ponzi scheme.
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Will Canada suspend arms exports to Saudi Arabia? Alex Mihailovich joined Boom Bust to break it all down for us.
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Wednesday was a day of heavy anticipation ahead of the US central bank's latest policy meeting. Markets were eagerly waiting to learn if the Fed would scrap the word “patient” from its language when referring to rate hikes. Well, they did in fact decide to ditch patience. Stock markets rallied after the Fed statement, while the US 10-year Treasury yield dipped below 2% for the first time since March 2. Erin weighs in.
Then, Erin sits down with Max Wolff – chief economist at Manhattan Venture Partners. Max explains why Apple turns to the public instead of developers when it comes to their iOS mobile platform and gives us his take on if iOS is the future of the company.
After the break, Edward is joined by Lockhart Steele – editorial director at Vox Media. Lockhart tells us how well old media understands new media (if at all) and gives us his take on Jeff Bezos taking over the Washington Post.
And in The Big Deal, Erin and Edward discuss the Fed’s policy statement and the possibility of raised rates. They also do a deep dive into some of the latest trends in mobile technology, most involving Facebook, Instagram, Amazon, and Google. Take a look!
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