What is the skyscraper curse? Dr. Mark Thornton joins Lindsay France to discuss it. Germany’s upcoming election may get a rockier for the candidates as Bianca Facchinei breaks it down. RT correspondents Alex Mihailovich and Trinity Chavez join us as we look at oil and the U.N. respectively.
China's GDP saw an immense first quarter, jumping by nearly 20 percent. But what effect has that had on the global economy as the fight against COVID 19 heats up? Plus, Bitcoin's price has taken a hit as Turkey says that it will ban all payments in cryptocurrency. And there has been a boom in sports memorabilia and cards during the pandemic. Rare cards are going for hundreds of thousands of dollars, and new packs at stores are selling out quickly.
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Profits at S&P 500 companies are headed for a sixth consecutive quarterly decline. Ameera David has the details. Then, Boom Bust’s Bianca Facchinei takes a look at the politics behind the informal OPEC gathering in Algiers that is rallying oil prices. Steve Keen, Head of Economics, History & Politics at Kingston University, then explains whether the angst over debt in China is warranted.
After the break, economist and best-selling author Gary Shilling breaks down why global growth continues to remain subdued despite extreme levels of monetary stimulus. And finally, in The Big Deal, Edward Harrison continues the discussion on why monetary policy is at the end of the line as a policy tool.
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Anti-austerity protests take hold in Belgium as tens of thousands take to the streets in opposition. And the Eurogroup meets to discuss the Greek bailout as tension builds between creditors. Ameera David reports. Then, Boom Bust’s Bianca Facchinei details how Bank of America got out of paying penalties of a whopping $1.27 billion for mortgage-related misdeeds. Afterwards, RT correspondent Ashlee Banks talks to Ameera about the raiding of Google’s Paris headquarters on potential tax evasion charges.
After the break, Ameera is joined by Levy Economics Institute research associate Marshall Auerback to discuss the situation concerning Greece’s Troika debt and austerity program. And in the Big Deal, Edward Harrison and Ameera discuss whether the storage of oil in offshore tankers is a sign of speculation or a glut of oil supply.
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Trade continues to be tenuous for the United States, but amid the uncertainty, a landmark deal has been reached in North America to replace NAFTA. We break down the most recent moves with the landmark agreement, and how it could affect workers across North America. Plus, as global growth continues to fall amid issues, the United Kingdom has hit its slowest pace in a decade. Hilary Fordwich of the British-American Business Association joins the show to analyze the numbers. Plus, as online banking continues to rise, brick and mortar locations are continuing to be trimmed down. RT correspondent Natasha Sweatte and Bartlett Naylor of Public Citizen lend us some help to understand the trend.
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Early warning signs suggest another currency crisis in emerging markets is on the horizon, with major EM currencies tanking on Tuesday. Mexico and South Africa’s exchange rates are now at their lowest levels, while Asian currencies at their worst point in two decades! And with the US Federal Reserve getting even closer to increasing interest rates from near-zero levels, analysts say a collapse of that kind could happen yet again. Ameera David weighs in.
Then, Erin Ade is joined by Danielle DiMartino Booth – former analyst at the Federal Reserve Bank of Dallas. Danielle tells us what her biggest takeaway is from working with the Fed and gives us her take on what the Fed’s role was in the housing bubble and the market that followed it.
After the break, Bianca Facchinei takes a look at the decline of homeownership in the US, which has reached at 48-year low. However, the number of rental households is growing as a result.
Afterwards, Ameera and Edward Harrison talk to James Galbraith – professor of government at the University of Texas at Austin and author of "Inequality and Instability: A Study of the World Economy Just Before the Great Crisis." James tells us what Sen. Bernie Sanders is hoping to achieve by hosting a panel on the Greek debt crisis in Washington.
And in The Big Deal, Ameera and Edward discuss the US economy.
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It’s the best of Boom Bust’s Cuba week, as Ameera David recaps the week-long trip to the island that is on the verge of historic change.
First, Bianca Facchinei takes a look at the impact of sanctions on the island economy, and what can be expected for the country going forward. Ameera David then sits down with University of Havana Economics Professor Juan Triana Barros to hear about Cuban socialism and the difficulties new entrepreneurs face as they enter relatively unknown territory. After, Ameera then heads to Havana manufacturing company Adorgraf, where she finds out how small Cuban companies are making their way onto the international stage. Jose Luis Rodriguez Garica, the former minister of economy and planning, then gives his take on why he would like to foreign investment in his country TRIPLE. And finally, Bianca heads to the Port of Mariel, a special economic zone that is transforming Cuban trade.
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McKinsey is the consulting firm that's been involved in everything from Enron to presidential elections. Financial journalist Duff McDonald investigated the notoriously tight-lipped firm and wrote the New York Times bestseller "The Firm" about how the company has influenced American business. He joins Erin Ade to discuss all things McKinsey.
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In the next five years, your water bill could cost $49/month due to scarcity; Lindsay France weighs in. Then, Lindsay and RT’s Alex Mihailovich discuss what’s keeping Canada’s economy stable. Afterwards, RT’s Manuel Rapalo reports on the reaction to Mexico’s president cancelling a meeting with Trump.
After the break, RT’s Bianca Facchinei takes a look at the new possible merger between Verizon and Charter. Then, Lindsay sits down with Eddie Lorin – co-founder of Strategic Reality Capital – to talk about housing.
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On Thursday, Germany rejected Greece’s proposal for a six-month extension to its Eurozone loan agreement. Germany said that the proposal was “not a substantial solution” because it didn’t obligate Athens to stick to the conditions of its international bailout. As the biggest creditor and EU paymaster, Germany has the clout to block a deal which would leave Greece without a financial lifeline and potentially put it towards an exit from the Eurozone. Erin weighs in.
Then, Edward sits down with Dr. Pippa Malmgren – founder of DRPM Group and author of “Signals: The Breakdown of the Social Contract and the rise of Geopolitics." Dr. Malmgren gives us her take on the possibility of a Greek default and its potential effects. Pippa believes that the voting public in Greece and elsewhere in the periphery has become radicalized after years of economic hardship. She sees this as one big reason that Greece could eventually exit the Eurozone. Pippa also gives cogent analyses of shrinkflation, the downsizing of portion sizes in retail packaging to increase margins, as well as the UK trade data and what they mean for the upcoming UK elections.
After the break, Erin is joined by Steve Keen – head of the School of Economics, History, and Politics at Kingston University and author behind “Steve Keen’s Debtwatch.” Steve tells us that new Greece finance minister Yanis Varoufakis is not as radical as some make him out to be and gives us his take on the rest of the periphery. He believes that the situation in Greece is a textbook case of debt deflation and proves how destructive pro-cyclical cuts to government spending are for an economy. Dr. Keen goes further and suggests that the rest of the periphery is still not out of the woods. He believes even France is at risk economically.
And in The Big Deal, Erin and Edward Harrison continue the discussion on Greece and the turmoil surrounding the German Finance Minister’s rejection of Greece’s proposal to extend its loan agreements. Take a look!
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