[39] Jim Rickards: The Fed is tapering QE into a recession
Jim Rickards, lawyer, economist, investment banker, is a self-proclaimed gold-vigilante with over three decades of experience working in capital markets. In an interview with Boom Bust, Jim gives us his views on where the economy and monetary system are headed. He sees trouble for the current post-Bretton Woods monetary system.
For the first time in history, more than half of all members of Congress are millionaires. Of the 534-current members of Congress, at least 268-had an average net worth of $1 million or more. While the US is faced with unprecedented issues surrounding unemployment, food stamps, social assistance and minimum wage rates, it begs the question: has the US turned into a plutocracy?
Bitcoin is making headlines, as it surpasses the price of gold for the first time in history, Boom Bust’s Bianca Facchinei has the full story. What a wild ride Yahoo is having, Boom Bust’s Manuel Rapalo takes a look at the fallout since the company’s data breach and the $16 million dollars spent in legal fees. Mercedes Benz recalls nearly 400,000 vehicles due to a serious safety issue that’s spreading around the world. Finally, former presidential candidate Kevin McCormick (I) joins us to talk pricing of college in the states.
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The Biden administration has proposed new rules to crack down on what they say are international tax evasion schemes in the cryptocurrency sector. Boom Bust's Christy Ai joins the program to take a look at the specifics of the proposal and what it could mean on the world stage. (2:04) Plus, as Russia has boosted its efforts in the fight against COVID-19, the St. Petersburg Economic Forum is underway for the first time since the pandemic began. RT correspondent Yulia Shapovalova is on the ground there and managed to catch up with a key player in the development of the Sputnik V vaccine. (8:59) Then we take you back stateside where the Federal Reserve is set to begin selling bonds that it scooped up during the pandemic. Octavio Marenzi of Opimus LLC and Michael Pento of Pento Portfolio Strategies lend their insight to the central bank's latest decision and the continuing inflation facing the nation. (15:53)
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NO show does it like this. It’s TIME TO DO NEWS AGAIN with Rick Sanchez
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Steve Malzberg sinks his teeth into the slander, hypocrisy, bias and lies of MSM. MMM…Delicious! Eat The Press: http://bit.ly/EatThePress
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Big banks are reporting their earnings, including embattled Wells Fargo. Edward Harrison has the details on how they fared. Ameera David then sits down with Chairman and Managing Director of the Indian Export-Import Bank, Yaduvendra Mathur. He gives his insights on why the Indian economy has been able to maintain such robust growth, and why slowing global trade is a concern at this year’s BRICS summit.
After the break, Edward takes a look a new report leading some to believe that U.K. Prime Minister Theresay May could opt for a so-called “clean break” Brexit. Bianca Facchinei then examines the decision by Belgian region Wallonia to block the Canadian-EU CETA trade deal. Then, Brigida Santos joins from Los Angeles to go over a British court decision finding that Goldman Sachs did not scam the Libyan Investment authority, as the group long charged. And finally, in The Big Deal, Manuel Rapalo breaks down DeVry Education Group’s settlement with the U.S. federal government over charges it misled applicants about student job placement.
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RT is on the ground in China, taking a look at one of the most controversial companies of the trade war. Sara Montes de Oca takes us inside Huawei's Shenzhen-based factory for a more in-depth look at the telecom giant. Plus, following a shock primary vote in Argentina, the election has sent the nation's economy spiraling. Fermin Koop, staff writer at the Buenos Aires Times is on hand in Argentina to break it all down the dip. And later, car sales in China are slumping, but could it signal something worse to come? Lauren Fix, the Car Coach is standing by to steer through the ominous signs in the People's Republic.
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Jean-Claude Juncker says he is even more skeptical on Brexit, after meeting with Theresa May. Google and Facebook are hit by $100 million phishing scam. Boom Bust’s Bianca Facchinei takes a look the labor shortage in Japan that’s prompting the hiring of permanent workers. As Opec looks to extend cuts into 2018, Boom Bust’s Manuel Rapalo takes a deeper look. After the break, we discuss the deal U.S. lawmakers agreed upon to keep the government working through September. Alex Mihailovich reports on the pipeline drama in Canada and America. We also talk about income inequality with Lynn Paramore. Finally, the hack of Netflix leaves major networks nervous.
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General Electric is planning to eliminate 6,500 jobs in Europe and General Motors raised its earnings projections by 5%. Ameera David weighs in. Then, Erin Ade sits down with Robert Neuwirth – author of “Stealth of Nations: The Global Rise of the Informal Economy” – to talk about the underground economy.
After the break, Bianca Facchinei takes a look at why the feds are investigating high-end property in New York City and Miami. Afterwards, Ameera and Erin discuss the record-breaking powerball lottery. And in The Big Deal, Ameera and Edward Harrison talk about what’s in store for the global economy.
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China-U.S. trade relations may still be a bit hazy, but recent developments may offer a ray of hope to cut through the uncertainty. RT Correspondent Rachel Blevins and Sourabh Gupta of the Institute for China-America Studies join the show today to break down the details of what we can expect as talks progress. Plus, as the U.S. economy continues to show signs of slowing, reports say that the Federal Reserve may be preparing a rate cut as soon as next week. Peter Schiff of Euro Pacific Capital is on hand today to delve into the details of what the Fed may have up its sleeve.
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It’s May or delay as Brexit hits another roadblock; Hilary Fordwich helps us figure it out. With all the auto news in the headlines lately who better to talk to than Lauren Fix, the Car Coach. Levi Strauss is making a comeback; Mollye Barrows gives us the story. And how is retail fairing and can they survive the future of service? Holland Cooke gives us the scoop. [1277]
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