[627] Raoul Pal on Brexit impact, Default in Puerto Rico
As Turkey is hit by another devastating terrorist attack, the number of foreign visitors to the country is already down 23% in first 5 months of the year. And in other news, JPMorgan Chase is making Scottish Independence its base case scenario. Ameera David has details. Then, after a few days of post-Brexit volatility, markets have rallied. And Ameera talks to Real Vision founder Raoul Pal about what to expect next in global investing.
After the break, Boom Bust’s Bianca Facchinei reports on a recent analysis from the IMF which shows how big of a threat income inequality is to economic growth. Afterwards, Ameera talks to Chris Versace, the Chief Investment Officer at Tematica Research and Co-Author of “Cocktail Investing” about the coming default in Puerto Rico. And in the Big Deal, Ameera and Edward Harrison discuss how Brexit has entered the political discourse in the US presidential election.
Following two years of turbulence from the United States and other nations, Huawei has bounced back with a rise in profit. But what does this means for the Chinese telecom giant? Plus, the fight for infrastructure is shaping up to be the Biden administration's next major move. In Alabama, a vote is underway to unionize at an Amazon facility, a first in the United States.
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If you’ve been following the events in Ferguson, Missouri over the past week, then you’ve seen an egregious display of an over-militarized police force. But with unarmed protestors going up against assault rifle-wielding law enforcement, many are questioning and criticizing the tactics of local law enforcement considering police departments across the US have been amassing military equipment for years! Erin weighs in.
Then, Erin talks to Scott Sumner, an economist and professor at Bentley University, about his takeaways from the American Recovery and Reinvestment Act of 2009. After the break, Erin speaks with currency expert Marc Chandler to explore the rise of the renminbi and economic sanctions.
And in The Big Deal, Erin is joined by Edward Harrison to explore the economic implications of the ongoing situation in Ferguson, Missouri. Take a look!
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President Barack Obama announced on Wednesday that we will begin normalizing relations with Cuba. The deal ended 53 years of diplomatic estrangement and opens the way for economic opportunities for both the US and Cuba. Obama said that the policy changes mark the beginning of “a new chapter” for the Americas and urged Congress to bolster his executive actions by lifting the Cuba embargo. So what are some of the economic implications of this détente? Erin weighs in.
Then, Erin is joined by Max Fraad Wolff, assistant professor of economics at The New School. Max tells us what he makes of the Fed’s recent statement implying they won’t hike rates for a “considerable time” after QE is finished and gives us his take on what investors should take away from it.
After the break, Erin sits down with Eswar Prasad – professor at Cornell University and senior fellow at The Brookings Institution. Professor Prasad tells us what he sees as the biggest consequences of the strong dollar and gives us his take on what emerging markets he thinks look vulnerable. Eswar also tells us why floating rate regimes give emerging markets breathing room while fixed rate regimes require steep levels of economic reform.
And in The Big Deal, Erin and Edward Harrison are talking about the recent Fed policy statement and the Swiss National Bank’s move to negative interest rates. Take a look!
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The concept of central banking leaves many people scratching their heads. To get some insight, we were joined by a panel of guests including Peter Schiff, CEO of Euro Pacific Capital; Marshall Auerback, director of institutional partnerships at the Institute for New Economic Thinking; Mark Weisbrot, co-director of the Center for Economic and Policy Research; and Richard Ebeling, BB&T Distinguished Professor of Ethics and Free Enterprise Leadership at The Citadel. Take a look at part two of the panel discussion to see what they had to say on the ECB and Sweden.
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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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NO show does it like this. It’s TIME TO DO NEWS AGAIN with Rick Sanchez
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What’s your NEWS IQ? Give us 30 minutes, and we’ll take you across the globe!
In Question with Manila Chan, IQ: https://bit.ly/IQ_SHOW
Steve Malzberg sinks his teeth into the slander, hypocrisy, bias and lies of MSM. MMM…Delicious! Eat The Press: http://bit.ly/EatThePress
Candid conversations with the most outspoken guy in Hollywood! Dennis Miller + One! Dennis Miller Plus One: http://bit.ly/DennisMillerPlusOne
Let our TV time-machine bring you the week’s highlights and a closer look at the BIGGEST stories, Just Press Play: http://bit.ly/JustPressPlayShow
Yep, it’s Gov. Jesse Ventura and you’re living in his WORLD! Come along for the ride.
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Imagine this; you pay a small 10% fee, got a tiered garage, and drive away with a new car?
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World Health Organization officials addressed the possibility of lifting COVID-19 coronavirus measures on Monday. In the United States, there is a push to lift restrictions by May 1st in an effort to mitigate the economic impact of the pandemic. U.S. President Donald Trump tweeted that it is up to him, not individual states, to set a timeline for reopening the economy. Meanwhile, the world’s top oil producers managed to pull off a historic deal in an agreement to cut output by 9.7 million barrels per day for the next two months. After days of discussions and negotiations, OPEC members and allied non-members, including Russia and Mexico, finalized the deal. Plus, there is no lack of frustrations for small business owners who have been repeatedly promised that financial help is on the way. There are multiple programs that Washington insists would provide emergency funding to small businesses. But it seems that nothing has been provided.
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Our lead story: Erin talks net neutrality. Netflix CEO Reed Hastings called for rules that ensure that big broadband providers like Comcast can't charge companies like Netflix a fee to connect directly to their networks. What do you think? Erin gives you the details.
For our interview today, we invite economist Steve Keen to talk about some bold assertions made by the Bank of England about how money is created. Turns out that your economics textbook on banking was wrong: there is no money multiplier in this story.
To round out the week, check out Edward Harrison and Erin's discussion of the viewer feedback, or "Accrued Interest," the Boom Bust team has received over the week.
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Can one company change commercial space flight? Avery Haskell from Shuttle certainly thinks so! Steve Malzberg joins Bart as they discuss Saudi Arabia. Auto sales are down, but Tesla production is looking up; Melissa Armo is back in New York to discuss. Meanwhile Dan Cohen gives us an inside look into China and their export economy. All this and more on Boom Bust! [1168]
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