[894] Gold, credit, and Japan: Making sense of it all
It’s a jam-packed Tuesday, but the Boom Bust team is ready to roll! Bailouts may have saved banks and certain companies in the past, but we’ll be footing the bill for years to come while Italy hopes for the best as they look to an economic confidence boost. Gerald Celente joins us as we break down Japan’s economic woes. Bianca Facchinei tunes in to HBO as the company reels from a massive Game of Thrones data hack. We’ve got gold in our eyes and Peter Schiff looks at the highly prized metal commodity while Lionel of Lionel Media takes us for trip as American’s now have the highest cred-card debt in U.S. history! That and more today on Boom Bust.
Donald Trump repeats his promise for additional spending on America’s military, RT’s Bianca Facchinei has the full story. RT’s Manuel Rapalo takes a look into how Trump’s NAFTA deal could take a toll on U.S. exports of corn to Mexico. Electric car manufacturer Tesla gets a “sell” rating from Goldman Sachs. After the break, RT’s Ashlee Banks takes a look at GM as it increases discounts on pickups.
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Internet access is becoming more vital to everyday life, but is our current broadband access enough to meet the demands of the future? Dan Cohen has the report!
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North Korea faces a slew of new sanctions which Bart Chilton discusses with host Lindsay France. Bianca Facchinei looks towards Germany’s elections, revealing European unease. Patrice Onwuka joins Boom Bust to answer the question of how the government can help female business owners.
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Years after a major data breach, Equifax has now issued a major settlement to resolve their issues still stemming from the scandal. Mollye Barrows of America's Lawyer joins the show to delve into the details of the major resolve. Plus, as the trans-pacific trade tug-of-war drags on, there could be a crack of light shining through the dark forecasts for the economy. Todd Horwitz of Bubba Trading joins the show to break down what booms could be just around the corner for the global markets.
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Manila Chan takes a look at the world of smart televisions and how smart they really are.
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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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GM is halting sales in India as the company looks to leave the South African market. Brazil is once again involved in a political crisis as markets brace. Boom Bust’s Manuel Rapalo reports from the White House, where Colombia’s President Juan Manuel Santos meets with Donald Trump. Residents of Greece head to the streets for a nationwide strike as they look to end evermore austerity, Boom Bust’s Bianca Facchinei has the story. RT’s Alex Mihailovich has an update on the stalled Trump NAFTA renegotiations. After the break, SiriusXM is said to be in talks to acquire Pandora. Lindsay France sits down with Danielle DiMartino Booth, author of “Fed
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The Federal Reserve could be on the verge of rate cuts, and the markets have been listening; Professor of Economics Emeritus at the University of Massachusetts Amherst Richard Wolff, and Peter Schiff, the CEO of Euro Pacific Capital are join the show to delve into the details and what this may mean for the global economy going forward. Plus, AMLO's cabinet has seen a shakeup in Mexico as a key economic figure has called it quits; Laura Carlsen, of the Center for International Policy joins us from Mexico City to break down the latest move, and how this has shaken the nation.
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A new report from Britain's House of Commons shows deep concerns for the bank balance of Queen Elizabeth II. In only 10 years it has dwindled from £35 million to just £1 million today. The royal reserve funds are now at the lowest levels in history. Let's just hope the royal baby George grows up to be a little bit better with money matters than his the rest of the family.
Continuing with the British theme, the British economy appears to be on the mend. And with growth for the last year coming in at 1.9%, the UK had its best performance since the financial in 2013. The coalition government says it owes a lot of the improvements to its economic policy -- and crucially to the central bank's quantitative easing program. Is this really true though? Former banker and finance blogger Frances Coppola breaks this down for us.
Also, on our show we talk a lot about the Washington to Wall Street connection and how government and banks work together in what at times seems to be a co-operative agreement to run the country. Larry Doyle, former mortgage-backed-securities trader for Bear Stearns, JPMorgan, and Bank of America, and author of the new book "In Bed With Wall Street: The Conspiracy Crippling Our Global Economy," paints a disturbing picture of Uncle Sam and big banks conspiring for personal gain against the people they are supposed to serve.
Finally, no Boom Bust show is complete without a few words on Bitcoin. Charlie Shrem, a Bitcoin millionaire and one of the most prominent players in the Bitcoin world, was arrested on Monday, charged with money laundering and operating an unlicensed money-transmitting business. Erin Ade and Edward Harrison discuss whether the moves are a huge blow to the crypto-currency.
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