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tv   Boom Bust  RT  April 17, 2021 9:30am-10:00am EDT

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this is the one business show you can't afford to miss average of more in washington coming up china's g.d.p. has had an immense 1st order jumped by nearly 20 percent but what effect has that had on the global economy in the fight against hope at 19 as it contains plus big price has taken a hit as turkey plans to ban all payments in crypto currency coming up we'll break down the latest price swing with expert analysis with a packed show today so let's dive right in. and we leave the program with the latest economic data out of china now the world's 2nd largest economy grew by 18.3 percent in the 1st quarter of this year compared to the same period last year according to data released friday by the national bureau of statistics you'll remember that the chinese economy contract by nearly 7
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percent in the 1st quarter of 2020 amid widespread lockdowns in the country at the height of the coronavirus pandemic now this expansion was also up 10 percent over the 1st quarter of 2019 retail sales and industrial production also rose by 34 and 14 percent respectively now with this in mind let's go ahead and take a look at how global markets fared for the week markets were largely up thanks to recovery optimism coming out of the world's 2 largest economies but the pandemic continues to dominate this global outlook we begin in russia where that is up and that's despite the latest round of sanctions announced by the biden administration on thursday biden barred u.s. banks from buying newly issued russian government debt but russia's market bounced back after the ruble initially fell 2 percent on that news over to asia where markets were mixed despite those positive numbers coming out of china the shanghai composite finished the week down but just slightly the composite did see a surge on friday due to those g.d.p. numbers. but it wasn't enough to pull the index back into the green in hong kong
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the hang seng that is op the index was also boosted by those growth numbers coming from china and a number of chinese company posting earnings for the 1st quarter of 2021 in japan the nikkei is down but nearly unchanged for the week investors are reacting to a resurgence in copan 1000 cases and the announcement that the tokyo olympics may still be cancelled as the country lags behind in vaccinations in india the sensex is in the red lake gains in the banking finance and tech sectors were not enough to erase losses earlier in the week another wave of code $1000.00 cases is devastating much of the country and this is on top of the news that india's economy is actually expected to post a 8 percent contraction for the 1st quarter of the year now to australia where the a.s.x. it's back in positive territory thanks in part to economic data coming out of the united states however australia is optimistic about its own recovery after new jobs
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numbers showed a dip in the unemployment rate to 5.6 percent although there is a little bit of a worry that those unemployment numbers don't show the full picture as the country's job keeper program is set to expire in south africa the all share gives us another green arrow this week south africa's central bank said it had no plans to change its soft policy on rates however it is expected that it has hit the bottom in those rates and a rise to counter inflation will be the next change if there is any the treasury also extended its government back business loan program to july after it was scheduled to end this month moving over to europe and the americas let's start in the u.k. where the footsie well that's up this week rising about point 6 percent on friday alone to cross the 7000 threshold for the 1st time since february the rally was led by financials basic materials industrial stocks and hopes of a continued economic recovery the. dax and french cac they're also in the grain
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hitting record highs of the pan european stock $600.00 rose for the 7th straight week point 7 percent on friday alone the gains were led by the automobile sector with german car and truck maker dialer up 2.5 percent and the latest data showing new car registrations in europe actually jumped more than 87 percent last month across the atlantic to brazil the able best but it's up reacting to impressive numbers from the service sector which surge 3.7 percent up significantly from the 1.5 percent that was expected however the country has been highly criticized as it reports an average of more than 3000 deaths from copan 1000 day moving north to mexico the b.m.v. it's in the green reacting to the best q one performance on the main stock exchange over a decade thanks to record highs in march the manufacturing sector health gains as mexico continues to look to the north here in the united states all 3 major indices
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there also up continuing to see record highs as the dow crossed the 34000 threshold for the 1st time ever the latest data shows jobless claims at their lowest level since march 2020 with retail sales showing bet showing a better than expected performance of 9.8 percent and finally to the great white north of kandahar ts act it is up for the week as an increase in on crude oil prices combined with strong data on imports from china fueled hopes of a continued economic recovery next week we will continue to look at the ongoing vaccine roll and track which economies look to separate themselves in an uneven global recovery and that is your global market walk. and taiwan will soon join switzerland vietnam and other nations as a u.s. deemed currency manipulator following a decision by newly minted treasury secretary janet yellen this announcement comes as part of a fresh report from the treasury that analyze the exchange in economic policies of nations that conduct trade with the united states the movie ellen's 1st in the new
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position is doubtful to have any major effect on trade policy moving forward. after a record setting week for big quinn the world's largest cryptocurrency has finally dropped slightly following a decision by turkey central bank to ban cryptocurrency for payments the central bank of the republic of turkey said the use of crypto currency than other crypto as that based on distributed ledger technology would be prohibited as a payment whether directly or indirectly joining us now to discuss this and other crypto related news it's boom bust co-host and crypto analyst ben swan and christy i always a pleasure to talk these things over with you guys chrystia i want to start with you why did this announcement by turkey cause a pullback on the bitcoin price. going to come up a little bit spiking down 4 percent of course recovering on friday after turkey central bank and our purchases site east transactional risk so this is you know
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basically made us additional assets could not be used to regularly or indirectly to pay for goods and services and this decision could stall turkey's kamar which has gained a lot of momentum in recent months as investors have been looking to hedge against the euro depreciation and also be inflation that top 16 percent last month but really this was just a quick spike down it was more some of the kneejerk reaction we've seen many tough regulatory currencies by major economies before like china but those bands are notoriously hard to enforce and so get the markets know this so they've just like in the past shrugged off such lows besides how do you even bankrupt or ask for payment it's up to the individual buyers and sellers if they're not paying for good just keep the assets that i'm sure you can always harder for goods or digital assets so in any case this is a mormon nothing burger and comes from the government feeling like they're losing control of the currency training in turkey had about 27000000000 dollars last month and now with this blanket ban this will encourage start ups to start moving their
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assets abroad. now ben moving elsewhere in the crypto world here for the 2nd time this week dos quite a has hit a milestone and this time around i mean maybe we're actually again due to tweeted dodes barking at the moon in a tweet and he also shared a photo of a painting by spanish artist one miro which was titled dog barking at the moon why is ilan musk so interested in go to court as it's all about shaking things up like ilan likes to do i think that's exactly what it is it's not a question of why does he it's why not do it right i think i think genuinely loves this idea of a point that it is simply a currency that has value because the people who supported have decided it has value and therefore they're moving forward he seems to revel in this idea he loves this idea by the way this is kind of a central point to what crypto currency is all about right you have to believe in
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this and so the people who are of the loyalists to do also believe this they 'd want to see it rise all the way up to a dollar that's the big push is to get it up to a dollar and seems to be a part of that he seems to like that idea and why shouldn't he like that idea i mean that's the power of what cryptocurrency is about is that it's not just up to janet yellen and the treasury secretary it's not just up to people like jerome powell that the fed chair that you as an individual have the power to decide what has value and what doesn't i think that's the thing he likes about it it's almost like a rebel currency and so listen we could also describe lots of different crypto currencies this way but seems to be the one that he is most fond of and by the way mark cuban also seems to be extremely. fond of dodge quite as well constantly tweeting about it so it's not a question of why do why not that's what they were talk about actually later in the show is things that have value because you decide it has value and yes really all value works christine obviously the coin base they view on nasdaq has had. was huge
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news this week but as part of that celebrity dr kathy woods arc funs but more shares of coin base worth about $110000000.00 a day after that nasdaq debut what signal does this send to the rest of wall street about the crypto industry. i mean it kind of sends a message that this is the real deal and the fun better start getting on board because right now not many firms have direct exposure to cryptocurrency it's very thing we talked about a couple of. but most of on they are and that there is also always a problem custodian and prime and pricing and all that so it's not a straight forward for funds to just buy big corn over the counter there's still no e.t.f. even though that was something that was quite imminent for the last 3 years only to be rejected by the f.c.c. at the final stretch so right now the only way for fines to gain exposure to literally the fastest growing sector is to invest in quantities because crime rises valuation is pretty much
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a direct reflection point and. now ben you know coinbase doesn't actually list. and which as we talked about earlier and has been kind of on a run because of all that's going to mean discussion and it's actually increased in value by 300 percent in the last week but what's happening due to this is some analysts say this but you have a danger of this means that there is a crypto currency bubble forming do you see that there's a real concern in this is your final word here. sure absolutely i think that the way the crypto market moves is that if it occurs with the we'll put it this way a boom and then a bus strike but not a full bust if it levels out the market levels out if find it's but even then it comes up again and it finds its footing in a comes up that is the nature of how markets are supposed to work i look at when analysts look at cryptocurrency and they're like oh this is a bubble that's going to burst and so it's like the dot com but what was the dog com bubble a forever burst no there were a large valuations it burst but guess what the dot com era of the internet era it's
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all still with us today just like crypto currency will be tomorrow boom bust co-host ben swan and kristie i thank you so much for your excellent else this today . in the biden ministration has announced nearly $2000000000.00 plan to track new and more deadly cold in $1000.00 variants as the u.k. there it becomes the most common source of new cases here in the united states to go over the latest let's bring in our chief correspondent side savage or so sir brian globally the number of new cases per week has nearly doubled over the past 2 months now while the u.s. has the most cases in the world it's india and brazil that's driving the most new cases and deaths right now and just in the last 24 hours india has reported more than 300000 new cases and you know many experts predict that number is actually a lot of higher than what's being reported now brazil is doing just as values see
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those areas they're just going up where they have reported more than 100000 new cases now in the u.s. we're averaging about 71000 cases a day now that's still about 16000 higher than last week so we're as we're hearing all the talk about the u.s. is doing good right now that's really not the case but we are we are having about $700.00 deaths that are being reported most days now that's the lowest since october the hospitalizations have been rising in recent days now hospitals are also seeing more younger and younger adults admitted because the 19 as more contagious variant spread and remember older teens and young adults for them on the last prioritize to get over 1000 vaccines and many of them have yet to get their shots now young adults are also involved in more social settings without wearing a mask playing contact sports and going to bars or restaurants just playing out partying so those factors combined with the highly contagious variant is likely
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driving a surge in young people going to the hospital now let's take a look at how the u.s. is doing with vaccinations as of a thursday more than 100 and. $98000000.00 doses of over $1000.00 vaccines have been administered now over $78000000.00 people are now fully vaccinated so that's roughly about 24 percent of the total u.s. population now so while almost 80 percent of the population is yet to be vaccinated all discussion is already on booster shots and remember fred all health officials and drug makers have said for months that a booster shots would likely be required out some point though it's not yet clear exactly when and the shots will likely be very similar to the early original version of the vaccines but may be administered in different doses or even tweaked to predict against the new variance are we're seeing now and already all 3 companies of the quoted $1000.00 vaccines are currently allowed to use in the u.s.
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so that pfizer moore and johnson and johnson have said they're already pursuing additional shots and anticipate these booster shots to be required within 12 months of getting fully vaccinated although it's possible people will need to get vaccinated against the virus annually much like the flu shot brand or t. correspondent sites abbi thank you so much for keeping us up to date. and time now for a quick break but when we come back it's been a boom in sports memorabilia hard to beat the never get it is rare items skyrocket and we have an expert on here just this recent research that the break or the numbers of what. i.
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today the industry prefers to spend millions of you know the 2 d. daily conditions will be sniffy all about making money making profits in some of the big corporations international markets import export do you imagine the number of chronic diseases in every community today it is not due to new viruses all new microbes trucks not true so it is due to environment. their momentum to supply the. muscles of really just accumulate could only come in to be seen to be so. diplexers from the sky if the so food industry is successful it will create more jobs it will create more value added it will create more growth so i don't see why we shouldn't also fight for the interest
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something into street not accept that we are british and we want regulation the housing industry and if we don't behave penalty that's fine. it's been decades since the full of spain's fascist regime but old wounds still haven't. because when.
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it was supposed. to me in the past it's a system you know to the interest of the same cause which we know. of newborn babies were torn from their mothers and given away and forced adoption. of my own group where there's a feeling that to this day mothers still search for grown children while looking in hope for their parents. so welcome back over the last few months we have heard a lot about non fungible tokens pieces of digital art are selling for big buddy is
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black chain back technology makes these items unique even one of a kind in some cases and as we have talked about on the show recently supports n f t's are becoming more and more prevalent and be a top shop offers clips of basketball league basketball leagues superstars soledad f.t.'s and collects and trading collectible and trading card maker tops is launching a line of f.t. baseball cards just next week something you may not have heard a lot about in this boom is the boom depend demick in physical sports memorabilia and cards where cards are going for hundreds of thousands of dollars and new packs at stores are selling out really quickly so let's talk about what this was someone who is really plugged into this space and that's kenny gold that he's the founder of. golden auctions ken thank you so much for joining us today why have i i think the most basic question here is why have we seen such a resurgence in popularity when it comes to training cards amid this pandemic is it
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all about an astrologer while people had so much time on their hands back really last year. sure i mean we've been seeing an upward trajectory since a really slow upward trajectory since 2008 and really big increase in 2016 but i think when people had the lockdowns and co bid there was really searching for sports and there was nothing on t.v. obviously and then people started looking to the radek and then the last stance came out and it brought back memories of michael jordan that the golden era of basketball and people just started you had a lot of free time and a combination of buying and selling and then gold and we had a few record prices where we sold a mike trout baseball card for knight 100000 then we sold abroad on james card for 1800000 and that just set the world on fire and it was just like rocket fuel since then and another one you guys had back in february gold and auctions actually sold a pair of 1987 fleer michael jordan rookie cards for $738000.00
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each and remember folks if you're listening those numbers can just gave in that that's a lot of money and this happened less than a month after that same card or a different card but the same $1.00 basically sold for $200000.00 so it raises the question is this actually a good investment with prices continuing to go up or is there a possibility of a bubble in this space. i think overall in the card market it's not a bubble it's we have a significant number of people that are joining our company of gold auctions every day from all around the world we've never had people for me know from russia from saudi arabia from turkey the philippines register we get that every day now plus you've got a mutual funds you've got all to investment funds that are doing it there are however opportunities where you see an individual spike of card that goes up probably more than it should have on a given day and that that opportunity may be the pullback and move into
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a different card so the industry as a whole continues to go bigger although it individual card price you don't there's hundreds of great cards thousands of great cards those individual cards may fluctuate on a day to day basis and now it seems like n.b.a. bastable cards are really on fire right now but interest in soccer cards has also been picking up as well recently correct. yeah in fact it was soccer is probably our fastest growing sport for trading cards we recently sold a marriage on a card for over half a $1000000000.00 we sold a rinaldo card for a quarter $1000000.00 we've got a rinaldo card dominic gold noxon's right now available that probably will surpass that and with soccer being the worldwide sport and with the world cup next year we expect the prices of soccer related trading cards to increase right through and pass the world cup in 2022 and ken do you think you know we talk about these classic cars obviously we're all those the current athlete you talked about mike
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trout in le bron james i was a current actually athletes but is there a way to see some of these superstars who are young today in the n.b.a. or any sport are there's a cards going for big prices because they're so rare or do you really have to wait to see how their career materializes. it's actually the opposite of what you would think there are a lot of people who speculate on players in baseball before they enter the major leagues and basketball the data drafted there was big money spent earlier this year on the mela ball when he was drafted in williamson and. are the 2 of the hottest players in the n.b.a. and they have 3 years of professional experience between the 2 of them so it used to be when i was younger collecting that people went for the established stars and you had epic proven track record now they are speculating on the younger players players who are in the 1st 2nd year of their career are looking for the next le bron james and the next michael jordan or the next mike trout and now as we kind of
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said at the top here at f.t. is have become more and more popular and golden arches recently sold an n.b.a. top shot clip of a 2014 lay up that's right i said at a lay up by milwaukee bucks star yann is not that the a for more than $130000.00 r n f t's the future of digital collectibles and will they eventually replace physical cards as those maybe are produced less. i believe that the end you know f t's are really taking you know to taking a hot spot in the collectible business i believe that n.s.t. i know that's tops is launching one we and our next auction have a group of empties a lot of top shots and some others and we're partnering with some of our athletes that are investors in gold options to launch an f t's for them so we're very excited about the space and i do think it did that and if he is going to take over the digital space as far as replacing our physical collectibles are that's not going to happen there are too many people that want the physical assets and the.
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huge business the physical collectible business is a $400000000000.00 industry so i don't think that's going anywhere in a long shot and before we go here can i add one more because it's not just about sports collectibles you actually partnered with you tube star logan paul as he had boxed 36 opened 1st edition packs of pokémon cards now they're incredibly rare packs that were initially released in 1990 i believe off the top of my head it was worth about $2000000.00 just the on open packs are probably my card seeing the same interests a sports is and are there other types of gaming collectibles picking up steam as well. it pokey months cards are extremely popular they're popular worldwide when we launched that we increased our database from europe i mean like in denmark and germany all they must be really big pokémon finds because we each so many new customers so it's the 25th anniversary of pokémon so that has spurred
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a lot of excitement but it's not just poke a minute yukio it's magic the gathering it's for tonight this whole classification is called t c g's you know trading card collectible games and it is a very popular and is a growing you know class in trading cards and collectibles can gold in the founder of gold an auction wow thank you so much for that insight today we learned a lot on the show. glad to be with you thanks for having me. and finally nearly every automaker on the planet is making a play to enter the world of electric vehicles many have made commitments to produce more e.v.a.'s in the coming years to reduce carbon emissions and compete with the likes of tesla while many brands are focusing on affordable models for everyday drivers mercedes benz on thursday on vale its new luxury e.q.'s model now the e.q.'s has features similar to the other luxury brands in the in their concept models including futuristic in tears with screens throughout the cockpit but this
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vehicle is actually going to hit the road this year the company says the e.q.'s is designed to exceed the expectations of even their most discerning customers unfortunately as of now there is no price point for the car but it is expected to top at least $100000.00 and that's it for this time you catch boom bust on demand on portable t.v. available on smartphones and tablets through google play and the apple app store by searching portable t.v. portable t.v. can also be downloaded on model samsung smart t.v.'s as well as roky devices or simply go to the t.v. we'll see you next time. but i can say. this if. you do this for the 1st what do you want to produce from the program would you.
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cut your c.v. just want to do a. deal think it was. approaching the plate. of the deal. but some of those are going to be. in their capitals. school board of these critics one of the least was the from the new belief because they've been. pushing into my thirty's smear. all of us you. impose some money into bulimia because of the style if you have a way to. maximize its financial survival guide stacey let's learn
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a salad fill out let's say i'm not so i. have to fight 9 well street spot thank you for helping. destroy that's right. that's slavery. is you'll be via reflection of reality. in a world transformed. what will make you feel safe. isolation for community. are you going the right way or are you being led so. direct. what is true wants is faith. in the world corrupted you need to descend. to join us in the
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depths. or in maybe in the shallows. so no freedom of speech be let out in the european parliament that emo and i mean he claims he was silence during a heated exchange in the european parliament daring to question the transparency of the global chemical weapons which told over its investigation of an attack in syria we hear from the man himself you know knows ation was the only guy that is sure that they're telling the troops would.

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