the hawks. welcome the boom bust the one business show you can't afford to miss this one and i'm christiane liking him coming out of the to continue to market as i now have now quarantined a 3rd major city we've got a live report on how u.s. authorities are responding. in fact i want to trade with you last and i wanted to go back on something and they had both well exploited and the former head of wells fargo may not be in jail but just get slapped with

a major penalty we'll tell you what it is we have a packed show today so let's dive right in. and we begin with the latest on the coronavirus which in china is having a big impact on financial markets in fact take a look at this at least 5 chinese cities have now been put on lockdown by the government as of thursday and we understand 61 expected to be quarantined in lockdown by 10 am local time so very soon this half of the city of hama which is believed to be the location of the origin of the virus was locked down on wednesday all in all it's a mess there in all 17 people have died from the virus but health authorities claim that the corona virus is so new that they are unsure of just how widespread and dangerous it could become the virus health officials claim can cause a range of illnesses from the common cold to severe acute respiratory syndrome also known as sars. is now spreading of course across china and many cities in china have reported cases. indeed singapore reported

a case of the countries have an eye i think we can expect that there will be many more cases in china and that the will be many more cars placed cases in other parts of the world i would stress also in comparison with sars the infectious rate will probably mean in the long term that it will cause less. fewer people will die 10 percent of people died in sas i suspect the mortality rate with this infection will be lower than that as it spreads to a much wider population and getting all of this in context keep in mind the common flu here in the united states kills about 56000 people a year so we're talking about much much lower numbers there has been one confirmed case here in the u.s. it was a man who arrived in washington state actually so for reporters after showing flu symptoms he is said to be doing well but here in the u.s. authorities at airports are also setting up higher security measures for incoming flights so let's go to our to correspond here in. washington reagan airport with

that part of the story. 3 cities in central china are now on lockdown to prevent the spread of the deadly coronavirus ucas new cases have been popping up outside of china's borders to new cases now in hong kong and a passenger in the united states now that arrived at l.a.x. from mexico city who has been hospitalized for a medical evaluation over the coronavirus now a vast majority of these places have that in the chinese city of london this morning the major port city of more than 11000000 people are canceling flights and trains leaving the city and suspending buses subways and ferries within it even this morning city workers disinfecting the streets now at the world economic forum rotavirus took on center airports around the world like the airport in manila philippines are now monitoring incoming airline passengers for symptoms of the virus which are fever coughing trouble breathing and ammonia this is not for many passengers traveling on edge the chinese new year kicks off saturday which is a popular to massive travel time for china. with millions expected to travel both

inside and outside of the country 2 cities impacted the most by the spread of this and one gang they are on a travel lockdown and authorities in the chinese capital of beijing they have now taken a big step in canceling scale chinese new year's eve celebrations to curb the spread of the numbers the bust unfair and from the. markets are concerned about the outbreak of the coronavirus and the impact it could have on global g.d.p. if we look at a recent column like the sars epidemic in 2003 which lasted for 9 months it provides a reference of what we can expect to look like in 2020 and let's have said that if the situation fails to stabilize by q one then china's g.d.p. will likely fall below 6 percent compared with the current forecast of $6.00 goldman sachs also issued a warning for potential drop in oil of demand from china which is the world's largest energy consumer the bear case scenario is calls for prices to fall about $3.00 per barrel as demand drops an average of 260000 barrels per day now this

estimate includes $170000.00 barrels per day loss of jet fuel demand as travel halts as consumption and tourism are hit the hardest media and entertainment industries in china are also affected film industry execs have postponed the release of all 7 major films that were set to debut last next week during the lunar new year holiday the year of the rabbit begins on january 25th and is the biggest holiday in china the equivalent of christmas ahead of the holidays. and have cancelled the celebrations for fears of further transmission in these mass gatherings. and with more on this we bring in peter schiff c.e.o. of euro pacific capital so peter this is oz and 20 started looking strong but now the markets have pulled back slightly due to fears about the corona virus and how that's going to affect the world's fastest growing economy now some analysts are arguing that these fears are just completely overblown because look at history in 2003 the sars epidemic during the sars epidemic the s. and p.

climbed almost 15 percent the 6 months after it was 1st detected in 2006 we had the avian flu virus which was another fast moving pathogen and we still gain about 12 percent that year and then include $1014.00 we had the ebola and the s.n.p. still again 5.3 percent so it's 2020 going to be any different than the past. well i think 2020 could be a bad year for the stock market but it's not likely going to be because of this virus like it's obviously too early to tell if there be any type of impact or a meaningful impact on global trade g.d.p. or the markets as a result of this virus but i don't think the virus is having any effect on the u.s. stock market i mean it is down slightly but it's hard to say why that to try to attribute to this virus is just guessing i mean the u.s. stock market is very overvalued the question is why isn't it coming down it should be coming down the only thing really supporting it is the federal reserve and all

the money they're printing with their stealth q.e. program although it's not stealth really everybody knows they're doing it they just refuse to admit it but there's no earnings behind this there's no strong economy behind this is it inflation driven bobble but you know the air should be coming out . so industrial metals such as silver and copper they're selling off the road the m. and the precious metal that strips pollutants out of exhaust exhaust fumes that's actually surging right now this comes asia and europe automakers now have to abide by those stricter emission rules but given the weakening auto market in the simple fact that auto sales are declining due to a lack of demand how much higher is it expected to go. well you talk about auto demand or the metals the base metals. go both let's start with the base metals and then as far as the auto demands we see that well it seems to be slowing down a lot right. well auto demand is going to expand over time particularly in emerging markets places like china and southeast asia so it's a growth market as

a lot of people that don't have cars that obviously want them a lot of people want better cars so i think there's going to be a lot of growth there it's not really a question of demand demand is is always going to be there it's a question of can people afford to buy the cars that they'd like it be do we have a robust enough economy and do we have the productive capacity to make it all possible i think there's going to be a lot of growth outside the united states in the auto sector i think the u.s. auto sector is another bubble that was made possible by the fed you have americans who are you know buying cars with 7 or 8 year loans you know where they're lying about their incomes just to qualify so i think you have a dangerous auto bubble here so i think you know you're going to see a contraction in the u.s. market but that's not the case in foreign markets particularly places like china where people don't borrow money to buy cars they buy cars that they can actually afford using the money they actually have. and speaking of cars that people can't afford now but the fact that there is a back and forth right now between the travel ministration and the e.u.

and specifically the trouble ministration threatening additional tariffs on european automobiles i mean that's always going to hit germany more than it would hit in any other country in europe if that were to happen who knows if it will or not it's a lot of talk at least at this point but would that actually help the u.s. market if that were to happen. no i mean it's not 1st of all it's going to backfire but our deficit with automobiles has nothing to do you know with unfair trade practices is just you know this we're just not as competitive but meanwhile look at the s.u.v. market look at all of the restrictions that the united states imposes on foreign s.u.v.s i mean interim like small trucks i mean so we have huge protection there and so there's we're very vulnerable to you know some type of you know counter attack by the rest the world so you know when you live in a glass house you're not supposed to throw stones and you know we haven't been playing fair and that part of the market but look at the time you do this kind of stuff it always backfires i'm as much as trump wants to pretend that you know the

terrorists i mean we're winning we're not we're losing our trade deficits are bigger today than before trump was elected so we haven't made any progress all we're doing is we're raising taxes on our own citizens you know to offset some of the tax cuts that they got earlier but the bottom line is government spending is growing even faster and so despite you know the tariffs that they're collecting from american consumers you know the budget deficits are exploding to record highs so it's record high budget deficits of record high trade deficits the last thing we want to do is escalated trade war that we can't win now let's go back to talking about the china u.s. trade weiwei it was always at the center of this and early on in the trade where the company ministration they had banned u.s. companies from selling chips and other parts needed to make a quick meant by 5 g. networks claiming national security reasons so this move was intended to. cripple huawei but now 18 months later it seemed to have backfired texas instruments one of the oldest and leading chip makers in the u.s.

and now that they are closing 2 chip plants in texas due to the toughening u.s. technology sanctions and being unable to sell to huawei one of its biggest clients so are we going to see a contraction in the u.s. i mean industry the stocks had already gained about 45 percent over last year. and we've got i think we're already seeing it we're going to see a contraction you know throughout the u.s. economy you're already seeing it certainly in the industrial sector manufacturing is really better in a recession for a while the question is when is the service sector economy which dominates the u.s. economy when is that going to roll over into recession is long overdue obviously there's a lot of politics involved now is whether they can kick the can down the road long enough to kick the recession past the 2020 election will see if they can't do that then i think that there's no way trump is going to get we elected but even if they can do it i still think that trump's going to have a much harder time than the markets perceive that i think they have yet to price in what would happen a discount in the market for the possibility of

a bernie sanders becoming the next prez of the united states because this is going to be very dangerous for the u.s. stock market i mean a lot of people were the false impression that trump was going to be bad for the stock market even though he was promising fewer regulations and lower taxes sanders is promising you know to raise regulations dramatically derives taxes to actually turn over control of corporate boards to the workers or you're talking about pressing a marxist socialist tike agenda that has a lot of sympathy now in the democratic party which might end up controlling the senate as well as the house so there is a lot of risk. to the u.s. economy into the u.s. market that everybody is ignoring at the moment terrilyn start to 2020 we'll see how it goes. pacific capital thank you so much. well time now for a quick. but hang in there because when we come back britain says it wants to trade with the u.s. and that is also once a digital tax on tech companies can they have both will explore. and the former

head of wells fargo may not be in jail but he didn't just get slapped with a major penalty he will tell you what it is and as we go to break here are the numbers of the close. and we're going to fulfill the repeated promises apologies to the people come on you know we've all but the.

pretty. pretty rare bertha now you want to 1st correct that. you know. paul. this is a story about what happens austral stray bullets kills a young girl in the streets. what happens to her family and daughters in florida you know the mother daughter is buried in

a cemetery. with your head what happens to the community the public was screaming for a scapegoat the police needed a scapegoat so why not choose a 19 year old black kid with a criminal record who better to pen this than him and what happens in court. shocked shocked as far. as. we don't know this is from. the end of this trial fortunately you. will still love no children. join me every thursday on the all excitement and i'll be speaking to us of the world of politics or business i'm show business i'll see that.

many call the impeachment trial of donald trump in the u.s. senate a political show well if it is it's not buried entertaining in fact it's quite boring repetitive and tedious clearly this entire process is a blood fest to play for keeps but what about the institutional damage left in the wake of this energy process. in the us government on thursday announced that for a while spargo c.e.o. john stumpf is barred from ever working at a bank again an addition. he will have to pay a $17500000.00 fine for his role in encouraging employees to create millions of

fake bank accounts and other financial malpractise the bank discovered that some workers alter documents and charge customers mortgage fees they didn't deserve and car insurance they didn't need now stands isn't the 1st exact to get barred from the industry for malpractise to former goldman sachs exacts were also barred and 2019 for their role in the one m.t.v. scandal stuff isn't hurting too badly though in january the sun's household purchased a mansion in paradise valley phoenix for $9300000.00 cash a small portion of the 30134 $1000000.00 retirement package he received from wells fargo and 2016. he isn't the 1st person to ever get barred from this there are all the other famous person jordan belfort who is also doing quite well for himself now as a motivational speaker right so here's the thing with these guys is so what he barred for life from something you're never going to do we get anyways was he was going to jump ship and go over to chase or bank of america or some place that was going to happen the fact that you could walk away with $134000000.00 after outright fraud

because that's what it was right and outright fraud it's identity theft they're setting up accounts for people that they didn't have authorization to do nobody goes to jail not one single person went to jail for it but it's not even really a slap on the wrist to say well take your $134000000.00 you're going to have to retire now you can't work in places it's nonsense well exactly rarely get blamed for this because they can always say i don't know what my employees were doing they can always claim that and that's because we have a president in the past every single time there was ever a case against a company execs always have limited liability because the way that companies are set up americans and the structure of the company it's a huge problem and the fact that they got away with it for so long is nuts it's just nuts britain is making 2 things clear on the trade front number one it would like a trade deal with the united states number 2 it will impose a digital services tax on u.s. tech companies like google facebook and amazon under britain's plan to companies that generate at least $500000000.00 pounds or $657000000.00 a year in global revenue will pay a levy of 2 percent of the money that they make from u.k.

users starting in april of this year this is a big deal because as we've reported france is facing enormous threats of new tariffs from president trump over its new proposed digital tax on those same tech companies so as britain faces serious hold up if they implement their own digital services tax joining us now to go for the money is now a muslim the chief market analyst with the trade so let's begin with that question that there's no question that across e.u. and specifically in france and now in britain there is this huge desire to implement these digital service taxes right. and yet for some reason president trump is backing tech companies that don't even pay corporate taxes here so will this tax blowup discussions if the britain decides to go forward and if there is even going to be a u.s. britain trade deal because of. thank you for having me i think the key word that you use is that there's a huge desire and when you have

a desire you have to see who your opponent is and under these circumstances unfortunately it happens to be a trump personality who threatens and who gets things done his way i think this is what the u.k. needs to understand because boris johnson is really facing a situation where beggars can't be choosers so you're leaving the e.u. in just a few days and then after that he is really going to be running and looking for that sort of deal so that he can really stem that optimism that we really need in the u.k. is the economy yes the economy hasn't derailed yes the manufacturers have shored more confidence. now that we have a sort of a deal with the e.u. but that deal doesn't mean anything because once this honeymoon period is over we can still be looking at that hard so to answer your question i think both e.u. and the u.k. needs to be very careful who their opponents who their opponent is and what tactics

they have use because if one thing is apparent from this tariff or the trade war it is that the chinese yuan suffered a massively we chinese economy was in a devastating state and it is still if you look at the g.d.p. numbers they are only. still very feeble. now moving on the european central bank on thursday held interest rates steady as a large its 1st duty to previous since 2003 the e.c.b. right now is trying to determine whether it's inflation. target is still appropriate and ultimately the e.c. voted unanimously to keep the main deposit rate at a historic low of negative point 5 percent in line with market expectations so is this kind of policy of negative interest rates the stain of all because we've had many quest people questioning this policy already. a big snooze was already expected by the european central bank today yes we have

a new head christine lagarde and she is still very much downplaying the risk associated with the european economy but the question as you pointed out is that if these negative rates are going to stay and the more importantly how long are they going to stay that can answer can only be answered once she has. a review which is never been done in nearly 7 years because i think that the last time that the e.c.b. really looked at the definition for a price stability that was back in 2003 from from that particular moment and until now we still do not have a clarity of what price stability really means we should really makes a composition of inflation. you know we talked a little earlier with another guest about while way but i want to kind of broach the subject with you as well the u.s. to continue applying this pressure on britain over its use of war way to build up the country's 5 g. infrastructure the u.s. has indicated that allowing while way to have a role in the 5 g.

buildout could risk the u.k.'s involvement in intelligence sharing with the 5 guys you see and there are still you canada new zealand the united kingdom the united states so 1st of all do you think that's going to be the case and i know boris johnson a new prime minister has talked about the need for evidence not just accusations against what way has anything been presented to him that you're aware of. that is very correct. is that these are all accusations and the more important element over here is that the investment done by the in the in the economy or in the u.k. so i don't think they're the u.k. is really ready to push everything or brush everything away and then say that look we're not going to allow that 5 g. is the future so if boris johnson is standing with the chinese tech i think that is the right step to take it but at the same time you're also trying to make a trade deal with the u.s. and we already know that the u.s.

isn't going to allow 5 g. network by the way to go into the u.s. so on one hand you want to make a deal with the u.s. do you call that enter your relationship especially in a deeper relationship but then at the same time you are also offering a friendship to those companies with the u.s. has already said that they're not allowed to come to the united states to do the work but yes i think boris johnson of david the respective right he said that. we want to work with them but there are certain restrictions as for as far as i know and the as far as understanding is for this this entire concept that the coals to the u.s. . perhaps may not be allowed by using the fines you know but i think it is something which is an arrestable so you'll have to adopt and that is the infrastructure which we're going to see so you see u.k. actually making

a big push to try to shore up their own assets their own resources building out their 5 g. infrastructure and you also see them making a big push into digital assets where are we on that front in terms of being more friendlier to cryptocurrency companies. i think. it's 1st of all is the term that the new term which is coins additional asset is a really friendly term with respect to the regulators because we saw a massive news came out of a new theme from the central bank of new pain years well we're very in to do so on . their own coin but i think we do with respect to the u.k. the digital assets is the very forward and the u.k. regulators are showing somewhat a lot more lenient behavior when he comes to digital assets it is going to become a reality as we've discussed many times and then the yourself and i certainly believe that this look. when we're really talking about the digital assets we're

really talking of montauk and i was a show of different assets tokenization of assets is very similar to the securitization which we have seen in a traditional markets so there isn't much difference the only difference is the underlying technology which makes these assets the so-called tech not the technology itself is so-called change so if the if the u.k. regulators if the u.k. government is going to allow and show a favorable to us additional assets i think you can confine in a very unique position. now a moslem chief market analyst with a trade thank you so much. for amazon continues to try to prove that it is all in in fact amazon india is now pledged to add 2000 election vehicles to its fleet in 2025 and these vehicles they're being called you see some video of it here electric rickshaw even though they're really not they 'd are 3 wheeled golf cart style delivery trucks and it was all c.e.o.

jeff bezos actually appears as you see here in the ads for this new investment which why he's in the ads we don't know it's being touted as an investment in india but it's actually just amazon buying stuff for amazon those latest visit to india was met with protests in 300 cities as many merchants in india believe that amazon is hurting competition by selling products actually be low cost and if you watch that full video to say that your presence is cheesy in it would be a huge understatement he looks ridiculous well that's a marketing strategy backfired because it looks like everybody is holding up signs saying get out of here right and yet he keeps inserting himself what's interesting is doesn't appear in a single ad for amazon in the united states isn't why in india why is he forcing his image as scary as it is going to the more you look at something the more people like you. that works with he looks like lex luthor but by this time you can catch them by. county timeline just now i counted 8 hours the mean time by 7 i'm

committed to be the p.t.b. at county for me not a tiny lex luthor or youtube dot com slash boom bust r.t. will see about here next on. live from the us navy seals killed by its own keep the salaam view or smear the focus on the us to do so these days when you want to get what. you see in the film was not does because it's really the most good moment in a. row there will be. your long. morning. little change when you don't let us. know what to.

do. welcome to max kaiser financial survival guide. looking forward to your pension account. yanks this is what happens to pensions in britain don't let this happen to you watch kaiser report. you know world of big partisan movies a lot and conspiracy it's time to wake up to dig deeper to hit the stories that mainstream media refuses to tell more than ever we need to be smarter we need to stop slamming the door on the bats and shouting past each other it's time for critical thinking it's time to fight for the middle for the truth the time is now

for watching closely watching the hawks. hundreds of thousands of people rally in part in protest against proposed changes to pension rights reforms. stage president presenting them to his cabinet on friday. also ahead the torture of experimental the u.k.'s national health service is under attack in the 1st of its kind legal challenge for scribing life changing drugs to youngsters to 3rd gender a leading claimant explain why this latest case is unique. looking at. young children. to consent to annex.