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11 Feb, 2022 01:16

Oil rallies & inflation explodes as Biden admin clings to ideology (Full show)

US inflation has reached record highs in the US with no signs of changing its meteoric trajectory as it hits its highest point in 40 years as of January, according to reports. Oil prices rally thank to the intransigence of the Biden administration and its deeply politicized energy policy. Wages have meanwhile grown faster than at any point in that last two decades. Absenteeism with workers due to COVID-19 has left supply chains to snarl and commerce to grind to a halt, with prices soaring and ports and warehouses overwhelmed with products. RT America’s Paxton Boyde reports before "Boom Bust" cohost Christy Ai and David Tawil of Prochain Capital weigh in on the possibility of permanent inflation and whether the Freedom Convoy movement is playing a role. They also discuss the Nord Stream 2 pipeline and the geopolitical tensions over nearby Ukraine.

The Freedom Convoy remains in Ottawa despite efforts to starve the activists of food and fuel. RT America's John Huddy reports from Ottawa. He says the police can do little than issue further tickets and try to prevent supplies from reaching the protesters, with harsher measures off the table due to the presence of families with children and refusal of sympathetic truckers to work with police. Then RT producer Enrique Rivera reports on the demonstrations breaking out in France, New Zealand, Australia and beyond in solidary with Canada's frustrated truckers and their refusal to accept onerous pandemic-era restrictions.

Then RT producer and senior writer Nebojsa Malic comments on a proposal in Congress to rein in the rampant self-enrichment that members affect by trading individual stocks. He points out that in some cases, such as House Speaker Nancy Pelosi's alleged abstention from stock trading, a representative can work together with a trusted spouse, one in legislative work and the other in stock trading.

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