The top story: The Bank of England cut base rates to a record-low 0.25% due to increasingly downbeat economic data in the UK. Ameera David has details. Afterwards, Boom Bust’s Bianca Facchinei reports why the Federal Reserve has fined Goldman Sachs $36.3 million for alleged disclosure violations. Then, RT Correspondent Anya Parampil explains the details behind JPMorgan Chase’s lawsuit settlement over sticking ex-cons with unfair debit card fees.
After the break, Ameera talks to Sprott US Holdings’ Rick Rule about precious metals.. And in the Big Deal, Ameera and Edward discuss the potential that we are in the beginning of a long period of economic stagnation.
Equifax faces lots of legal action, so attorney Yosha Gunasekera joins host Lindsay France to talk about it. RT correspondent Simone Del Rosarios takes a look at the oil markets, caught by surprise thanks to Asia eyeing U.S. oil exports. Correspondent Brigida Santos takes us to California where landlords in downtown Los Angeles face a housing problem amidst high rents and property value.
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As the COVID-19 pandemic continues to take a toll on global health and wealth, markets worldwide are up at the prospects of easing lock downs and reopening economies. Plus, Boeing is back in the headlines after scrapping a $4.2 billion dollar joint venture with Brazil’s Embraer. Meanwhile, oil continues to sink as storage nears capacity amid the massive decline in demand due to the Coronavirus Pandemic.
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The average retail price of unleaded gasoline dipped to about $2.14 on Monday and the US economy expanded at a faster pace than initially estimated in Q3. Ameera David weighs in. Then, Ameera sits down with John Brynjolfsson – CIO of Armored Wolf – to talk about central banking and PIMCO.
After the break, Bianca Facchinei takes a look at home sales, the travel industry post-Paris attacks, Volkswagen, and global higher education. Afterwards, Bianca is joined by Paul Craig Roberts – chairman of the Institute for Political Economy – to talk about the refugee crisis. And in The Big Deal, Ameera and Edward Harrison discuss European growth.
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Ann Pettifor is a world renowned economist whose book "The Coming First World Debt Crisis" was published in 2006, just one year before we had the worst financial crisis in three quarters of a century. She is one of the few economists who can claim to have genuinely predicted the crisis.
She now has a new book out, called "Just Money: How Society Can Break the Despotic Power of Finance". In it, Dr. Pettifor describes how the legitimacy of monetary systems originates in the social contracts inherent in credit-based transactions. The breakdown of the Bretton Woods system led to a destabilizing credit structure increasingly dominated by speculative activity instead of credit based on productive investment. Dr. Pettifor explains her framework for understanding money that will lead to sustainable and productive growth without destabilizing bubbles and crisis.
Also, Erin Ade and Edward Harrison discuss a recent study from the "The Equality of Opportunity Project", which has mapped out the 10 best and worst cities in the US for economic mobility.
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US economic growth in Q4 exceeded Department of Commerce expectations and Playboy announced a possible sale of the entire company; Manuel Rapalo weighs in. Then, Bianca Facchinei takes a look at the Verizon data breach. Afterwards, RT’s Marina Portnaya reports on France’s fine on Google.
After the break, Edward Harrison sits down with Marshall Auerback – research associate at the Levy Economics Institute – to talk about the US economy. And in The Big Deal, Manuel and Edward discuss oil prices.
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Erin sits down with John McDonnell, co-founder and CEO of BitNet, to get a better understanding of the Bitcoin payment process. John tells us how his company safely moves money between customers and merchants and why consumers should use cryptocurrencies instead of credit cards. He also explains how Bitcoin compares to competitors.
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Steve Malzberg, conservative TV and Radio host, and Dean Baker, Co-Director of the Center for Economic Policy Research, join Bart Chilton for a panel discussion on the latest GOP tax cuts. Is the United States ready for a cyber-attack? Todd Shipley joins us to discuss if the U.S. is ready for the cyber-threats of the future.
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As Janet Yellen begins her term as Fed Chair, growth in the US economy appears to be gaining momentum. University of Oregon Professor of Economics Tim Duy believes the Federal Reserve will face challenges in this environment as it decides how quickly to wind down its quantitative easing program.
However, in part two of an interview on Europe Yanis Varoufakis, Professor at University of Texas, Austin, predicts disaster for the Eurozone and the European Union as it deals with its never-ending economic crisis. Varoufakis sees sovereign defaults and a breakup of the Eurozone as the end game.
Wrapping up today's show on economies, Erin and Boom Bust producer Edward Harrison discuss the world's most expensive cities. Moscow is no longer first on the list. Watch the show and find out which city has surprisingly taken the top spot.
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Oil and energy expert Chris Martenson talks to host Lindsay France as we examine China’s move to create a new petro-currency and take on the petrodollar. Tourism in Mexico is dropping as drug cartels escalates and increases the violence; Bianca Facchinei goes in depth. Want to get rich quick? RT correspondent Alex Mihailovich takes us inside the Chinese property market.
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