The Federal Reserve slashes rates, but markets continued their slide. Why are the markets responding in this manner? We'll break it down. Plus, as the role of the Fed in markets comes into question, could this be the chance that cyrptocurrency needs? We analyze what may be in store for the new field of FinTech. #BoomBust #QuestionMore #RTAmerica Follow us on Twitter: https://twitter.com/RT_BoomBust Check us out on Facebook -- and feel free to ask us questions: http://www.facebook.com/BoomBustRT Follow Christy Ai on Instagram: https://www.instagram.com/christai_ai/ ... https://www.youtube.com/watch?v=9lYxZIiGmH0

The Federal Reserve has cut rates yet again, as demanded by President Trump, but what will this move mean for markets? Professor Richard Wolff is on hand today to break down the future for the Fed. Plus, Amazon's algorithm is under a harsh spotlight today as recent reports allege the company's search tool favors the company's own products. Author and Tech Executive Alex Salkever joins the show today to give us insight into what the e-commerce giant has been up to, and what legal challenges they could be facing soon. #BoomBust #QuestionMore #RTAmerica Follow us on Twitter: https://twitter.com/RT_BoomBust Check us out on Facebook -- and feel free to ask us questions: http://www.facebook.com/BoomBustRT ... https://www.youtube.com/watch?v=TXfzpyqii7U

Our lead story today is surveillance and the US economy. At a hearing in Palo Alto, California on Wednesday, Google’s Eric Schmidt made the bold claim that with the backlash against government surveillance mounting, “the simplest outcome is we’re going to end up breaking the internet. Erin Ade reports. Then, Erin is joined by Veritaseum CEO Reggie Middleton to discuss bank security and the technology of finance. After JPMorgan Chase recently announced it had a breach involving some tens of million accounts, it is clear that financial services are vulnerable. Moreover, a lot of bank profit comes from fees these days, rather than interest income. Is that fee franchise under pressure? Middleton weighs in. After the break, Erin sits down with famed investor Jim Rogers to talk about Russia, agriculture, and China. Rogers is bullish on agriculture and likes China. But he sees the Chinese purchase of the Waldorf-Astoria hotel as a top of the market kind of “trophy” acquisition. Jim also comments on whether a US equity bear market is on the horizon. And in The Big Deal, Erin and Edward Harrison discuss the end of the bull market. Market breadth is waning as evidenced by the lower number of stocks hitting new highs and trading above their 200-day moving averages. Small cap stocks have already corrected over 10% and almost half of the Nasdaq is sown 20%, thus in a bear market, already. Where is this headed? Consolidation is the bare minimum. But, depending on the real economy, it could be worse. Take a look! Check us out on Facebook: http://www.facebook.com/BoomBustRT ... https://www.youtube.com/watch?v=pxR_LaRB2k0

Weekly jobless claims in the United States have seen a bump yet again, pushing the number above one million. Analysts had expected a downward trend to continue after claims fell for the first time in the week prior. Plus, struggles continue for Facebook as the social media giant reaches an agreement for a major settlement in a facial recognition suit, while its other social media platform, Instagram, was just slapped with another massive suit over the same issue. Meanwhile, the travel sector has been battered by the COVID-19 outbreak. But while 2020 will go down as one of the worst years ever for that sector, we are only in August and still have a long way to go. #BoomBust #QuestionMore #RTAmerica Follow us on Twitter: https://twitter.com/RT_BoomBust Check us out on Facebook -- and feel free to ask us questions: http://www.facebook.com/BoomBustRT Follow Christy Ai on Instagram: https://www.instagram.com/christai_ai/ ... https://www.youtube.com/watch?v=vW3TlHOlbGA