[667] AB InBev cutting 5,500 jobs, yet payday for lawyers and bankers
The AB InBev-SABMiller deal will yield $2 billion in fees and taxes, a boon for bankers, accounts, lawyers, and PR professionals. Meanwhile AB InBev is believed to be planning 5,500 job cuts after the deal goes through. Ameera David has details. Then, Boom Bust’s Bianca Facchinei reports on Finland’s flirtation with a basic income as the country plans to give out cash to create jobs. Afterwards, RT Correspondent Anya Parampil explains how an Israeli startup firm allegedly manipulated the iPhone to allow government spying.
After the break, Ameera sits down with Valance Inc.’s Warren Mosler to talk about how resilient the US economy is right now. And in the Big Deal, Ameera and Edward Harrison discuss the American and Japanese economies.
Clean coal and a new head of the EPA? Tyson Slocum is back as he and Bart tackle the latest in an environmental news. Debbie Bloyd fills us in on the latest housing news while Hilary Fordwich gives us a breakdown of the biggest consulting firms. And Steve Malzberg dives deep with us as we tackle the latest hospital consolidations! [1145]
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Erin Ade and Edward Harrison discuss how Bitcoin purchases at casino hotels will be processed through BitPay, a service that streamlines transactions using tablet and mobile interfaces. Could BitCoin itself crash and burn but the platform and application endure anyway?
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Tech companies are spending big money this year to build political support in Washington in an effort to garner more influence on issues like taxes, immigration, and patents. Google’s political action committee, NetPAC, has spent more money on political campaigns this year than Goldman Sachs! With $1.43 million in political contributions, Google edged out Goldman by only a $300,000 margin. Erin weighs in.
Then, Edward Harrison talks to Rick Rule – Director, CEO, and President of Sprott US Holdings, Inc. – to talk about gold. We invited Rick back to the show following his appearance on the Gold Show to get more of his insight, specifically regarding what he sees happening in the natural resources space. We also talked to him about the chances of going back to the gold standard.
After the break features our Defining Moments segment, including our guests thoughts on threats to the real economy, government-backed digital currency in Ecuador, the drop in oil and commodities, weakness in Europe, and the tech impact on financial services. And these are some heavy hitters including Jim Rogers, Steve Hanke, George Magnus, Daniel Alpert and Aswath Damodaran
And in The Big Deal, Erin and Edward are talking Apple. Take a look!
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CVS/Caremark, the largest drugstore in the United States, has announced that starting October 1st it will no longer sell cigarettes and other tobacco products. How do smokers feel about this move? And what kind of hit to revenue will the pharmacy chain take? Erin Ade reports.
Then, Erin talks to financial advisor and economic blogger Mike Shedlock. The US economy has seen an uneven recovery over the past four years. Despite the economic expansion, and the Fed's efforts to put a floor under asset prices, many people are feeling the weight of poor wage growth. Will the minimum wage help? Or is the increase in consumer prices the problem? Shedlock gives his view.
Afterwards, Erin speaks to Jim Bruce, an award winning documentary filmmaker. His most recent film, "Money for Nothing: Inside the Federal Reserve" warns of a US central banking system that has, "lost its way." Jim believes that the instability of the US economy has only increased once the Fed began taking extreme measures to pump liquidity into the markets via quantitative easing.
In the 'Big Deal,' Erin and Boom Bust producer Edward Harrison discuss an innovative solution to the minimum wage problem using e-payments to retail employees based on the Bitcoin algorithm.
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Our lead story: On Thursday, Facebook’s stock sky-rocketed as much as 7.6% to an intra-day high of almost $77, giving the company a total market cap of $197 billion. That's equivalent to the combined values of both UPS and American Express! When measured by market cap, Facebook is now the 14th most valuable company in the S&P500. In order to surpass a market capitalization for $200 billion, the stock would need to a hit $77.94, which it could very well do. Erin weighs in.
Dr. Steve Hanke sat down with Erin to talk about the serious debt problems Argentina faces. Hanke goes into the details and gives some history about Argentina’s debt problems. Then after the break, Erin sits down with libertarian blogger Karl Denninger to discuss wearable technology, security, and monetary policy.
In today’s Big Deal, it’s Tech Thursday! Erin sits down with Edward Harrison to talk about Uber moving into Asia, the Apple-IBM deal, and Amazon’s mobile wallet application. Check it out!
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Our lead story: The European Central Bank has introduced a number of different measures aimed at stimulating the Eurozone economy such as negative interest rates, and cheap long-term loans to banks. What does all of this mean? Erin takes a look.
Then we sit down with economist Dr. Thomas Palley to get his view on the ECB decision and explore distinctions between New Keynesian economists and Post Keynesian economists. After the break, we check in with Ladar Levison of Lavabit to discuss his run in with federal authorities on the one year anniversary of Snowden's revelations on the NSA.
In today's Big Deal, Edward Harrison and Erin continue the discussion of government surveillance, digital privacy, and encryption. Take a look.
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Bart Chilton joins Lindsay France as we tackle the U.S. Jobs Report and the latest Fed news. Tax reform is coming, but multinational corporations may suffer over new avoidance reforms, Bianca Facchinei has the story. Will the Department of Justice slap AT&T and Time Warner with an antitrust lawsuit over their impending merger? Mike Papantonio gives us his take on the situation.
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The widespread adoption of cryptocurrency in the public conscience has also sparked federal efforts to track down some info on exchanges and major users. Boom Bust co-hosts Ben Swann and Christy Ai analyze the latest efforts from the IRS and what it means for the future of the crypto sector. (1:10)
Plus, after plenty of delegation and lobbying efforts, the United States has backed waiving vaccine patents for the developing world to ramp up their inoculation efforts. RT's Trinity Chavez brings us up to speed on the move from the U.S. and whether the European Union could follow suit. (10:46)
And later, despite concerns of inflation in the wake of COVID-19 stimulus spending, the Federal Reserve is issuing assurance as criticisms continue to mount. Octavio Marenzi and Michel Pento of Pento Portfolio Strategies offer their insight into the comments and give their forecast for what to expect. (17:07)
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