i. then this is a boom bust one business show you can't afford to miss some branches or fairmont in washington and here's a look at what we have in for for you today. brad of the corona virus which has all the growth of business in the disease of epicenter in china but we take a broader look at both the economic and human toll of the virus and what the infection may hold in store for the world and the recent surge in economic growth has been cooled by reports of the growing coronavirus but we take a spin around the planet to get a big picture of how international markets have been performing so much to get to so let's go ahead and dive right in. and the latest on the coronavirus leads our global report today after the world health organization declared a global emergency related to the virus on thursday china's envoy to the united nations wayne kwan addressed member states in the press to give an update on the

numbers of those affected by the virus reporting there are now 9809 confirmed cases in china with 1527 case the patients in critical condition now the envoy added that there are more than 15000 suspected cases now according to mr wang the number of deaths related to the corona virus is unchanged at 213 china's permanent representative the u.n. also spoke of the importance of the international civil solidarity in fighting the coronavirus. china and to a transparent. and open. and this law school to. promote international competition we have to pull to do 2 don't do the chill. from the very beginning hold the done with the information see. this meanwhile the united kingdom has reported the 1st 2 cases of the coronavirus in their country. as did russia. diagnose 2 patients with

a new corona virus in the russian territory of the bike lie in 2 minutes reaching. the patients are isolated and just under strict surveillance they are receiving necessary medical homes patients are chinese citizens. in an effort to fight the spread of the virus singapore's health ministry has banned entry of all chinese visitors and those who have recently traveled to china and mongolia will also close all ports of entry to and from china until march 2nd now as we've previously reporter reported airlines have also suspended the reduced trips and out of the country the airlines on that list now include singapore airlines american delta cathay pacific thin air and turkish airlines the head of the allied pilots association which represents american airlines pilots also suggested their pilots assigned to us trying to flights should decline the assignment to err on the

caution side now joining us now to discuss the story is she chen an assistant professor at the university school of public health professor thank you so much for joining us today i want to start by really asking let's talk about the importance of the travel in this situation when we're facing something like this a global health emergency how crucial is cutting off travel to and from the source . you know that will be very important to curb all contain the disease spreading so this is a wearing part and. another analogy is to sing about. 550000000 chinese residents in a problem that's where similar magnetism to travel down the cards or the mobility and recent evidence show that the lockdown really taking if out of the reduce the. feature of this disease saw the international trade international travel card down

where main also have similarly fat but that we have also to make sure this is evidence based is not only based on panic because this is exactly what the director general mentioned with this emergency declare ration and the countries should not cut down 20 than the human travels only because of a penny should be evidence based so they do not recommend substantial cut down of the troubles now going back to the w.h.o. decision and you mentioned it right there to date there's a global emergency what does that do to the situation how important is it for them to actually recognize this as an emergency. i think this is a crucial step towards to allow and see it as a global emergency previously only restricted to trying to now we see more and more evidence is spreading to 5. regions and these are human to human

transmission emad of all countries other than china and it's a fact team those small countries much more so that's why i think is this a long time and this emergency declaration is more important to those smaller countries who are wary of one or a ball in their house system response so called a nation where have those small countries well now you're saying is the coronation of these small countries but it's also happening here in the united states where it worthing the person to person transmission of the virus how how are experts going to deal with their spread of the virus what are the steps that they're looking to counter the virus where if any. yeah. sinking the local community in many us it is the rank this as a minimal risk so they are keep watching and monitoring this situation i was over there is human to human transmission by the u.s. house care system is much more prepared and they have

a feel cases to star ways so it's not nothing like the china's health care system started with a world crowded or a stretch to warn him of work here but the u.s. is more prepared so i think what's worrisome is according to the u.s. c.d.c. there is symptomatic transmission so people without developing symptom but the already transmeta those wires you know and i want to bring something up because you actually talk about the readiness of the u.s. system versus the chinese system now we had a guest earlier this week who has been following the situation he insinuated that the data coming out of china may not be entirely accurate when you take a listen to this. and here's the logic. behind the city 11000000 people it has at least 49000 hospital beds in it and we've all seen the videos i want beating rooms are people being sick in hallways that this is a medical system that's on the verge of being overwhelmed or has been overwhelmed

listen if you have 2000 cases at the time the reporting is overwhelming you have about a 10 percent serious complication rate that means 200 people are in need of serious or i.c.u. bed care that's not sufficient to swamp a city with 49000 hospital beds so my rough estimate is i think it's off by an order of magnitude but that's just guesswork i guess it just doesn't make sense to me to think that they got swamped by 2000 cases now china is working closely with the international community on this and what you actually just said is their system is it ready for this their system is already kind of overwhelmed prior to this so is his claim actually inaccurate based on what you just told us. year beginning the local government had the incentive to cover up but after the central government stepped in the quickly share the gene sequence ride with the international community and the with the with the declaration of emergency at a global level there is no incentive and no mechanism to cover up because the show

requires that information sharing even more transparent i think or what could happen is something mentioned the by the last speaker is. the capacity of the local health care system restricted the. ability to measure very precisely for example patients who could die at home without having the chance to seek care in the hospital because there is a long line in the hospital and the care system is not a beaut and also all the patients a. hospital even but still are suspected cases might not come for him so they have to become firm to case and die then there would be counted as the deaths and i see the local capacities is indeed you sure we are very much concerned about but there should be no purpose for. incentive to cover up at this moment well

hopefully they will find a solution to this. which is spreading quicker than we expected and again causing panic to people globally i think professor at the university school of public health he chana thank you so much for your insight on this. sensible hammy. and on the economic front of the coronavirus china's national bureau of statistics said it will need more time to truly see the financial impact in reporting that the country's purchasing managers index or p.m.i. dropped by 50.0 for the month of january from $50.00 over the last 2 months of the $2918.00 the n.b.s. warned that the survey had been taken prior to january 20th so it did not account for the coronavirus in a statement announcing the p.m.i. numbers the n.b.s. said the impact of pneumonia caused by the new coronavirus has not yet been fully manifested future trends will see if need further observation chinese manufacturing is currently mostly shut down due to the new year celebrations in the country but

workers were planning to get back to work as early as next week now authorities have called on many businesses in certain regions of the country to remain shuttered longer in an effort to contend contain the spread of the disease now here in the u.s. the markets have fallen due to the continued coronavirus news headline by a more than $500.00 point fall in the down jones industrial average and for more on exactly this we are broad we're going to bring in peter schiff c.e.o. of euro pacific capital peter there you so much for joining us today i want to start off by hitting on the u.s. markets taking a dive friday due to concerns over the coronavirus and we talked about the dow but actually all markets are down more than one percent really close to 2 percent now is this all about speculation is it a correction of the big gains we've seen recently or is it something else altogether. well 1st of all the coronavirus this is the excuse for the market going down it is not the cause remember investors had been buying u.s. stocks or global stocks for months in anticipation of the u.s.

china trade deal so once that deal was signed the market was very vulnerable to sell on the news and so if it wasn't a coronavirus it would have been something else the market was poised for a decline and now that's what it's do. and. i mean we're also seeing the concern over chinese manufacturing picking back up after the new year celebrations that are in the bucks are we going to see a drag on the chinese economy in the coming months you said this was something that was expected and how is this going to affect companies that rely on china's manufacturing base. well it certainly could i mean will it remains to be seen just how big a drag it is going to be but again i think that there are much bigger problems out there than the coronavirus and so investors who think that that's what this is about right they think it's no big deal because the virus will probably be contained is probably being overblown and maybe it is but simply containing that

virus is not going to restore health to the stock market the stock market could be headed a lot lower and people could be very complacent about this decline because they are attributing it to a cause that is not really driving the movement i mean peter it appears that we're seeing this over and over again i mean it's almost like politics is the way the markets react to things because it's crisis to crisis it was a trade crisis it's foreign policy crisis now it's a health crisis so i mean is this just the way the markets work now it's purely speculation we have to find a reason to throw all 'd our money in and get it out. while the market's going up because of the fed and i'm sure if it weakens enough the fed will come in with more money printing another rate cut i mean look at the economic news today chicago p.m.i. the weakest in almost 5 years you know we're now down 7 consecutive months in contraction territory that never happens in less we're in a recession yet they're trying to tell us we have a great economy look at the retailers other than atmos on which was up today the

whole retail space is getting slaughtered look at some of these stocks today down 6789 percent the x r t which is or index of retailers is down i think 6 and a half percent in the month of january if the consumer. so strong why are all these retailers collapsing i want to ask you this though on that scene during an interview with fox business the u.s. commerce secretary ross was speaking about the virus saying that quote i don't want to talk about a victory lap over a very unfortunate very malignant disease the fact is it does give business yet another thing to consider when they go through their review of their supply chain so i think it will help to accelerate the return of jobs to north america what do you make of this comment is there any truth to it. now i think it's wishful thinking in fact i think businesses are going to really happy consider the added risks of moving any jobs back to the united states because there is

a pretty good chance that bernie sanders is going to be the next president and that is going to be a very hostile environment to u.s. businesses so they should get as far away from the u.s. as possible. all right i got the read me question of the day from my friend peter schiff here gold prices had their highest level since 2013 as the coronavirus feeds the need for some type of safe haven investment honestly can you break it down why does this type of global health crisis push up the demand for gold. while a goal is going up anyway again goal is going to go up regardless of the coronavirus that is not why gold is going up it's a safe haven from central banks from the fed from money printing from inflation you know the price of gold finished the month of january up $4.00 and a half percent it's beating the you know the dow the s. and p. were down i mean the russell 2000 was the weakest of the major indexes and that's the one that's most correlated with the u.s. economy but what's interesting about this gold rally the last time gold was this

strong at a january was 2017 it was up 5 and a half percent in january but in that january gold stocks are on fire the g.d.s. j. which is a index of junior gold miners was up 20 percent in january in 2017 this january the index. it was down almost 2 percent so investors are not bullish at all despite the fact that gold keeps hitting new highs i think this is a screaming buy this market is climbing the wall of worry gold is going much higher and gold stocks are fantastic by peter schiff never going to not say it but gold is a fantastic buy feet of euro pacific capital so what if you're tired today. here they. meanwhile onto some good news in amazon's stock market as the e-commerce giant reports some big earnings now crossing the one trillion dollar value this comes

after their blow our innings report for its 4th quarter and 2019 reaching the trillion dollar market cap amazon shares hit a new all time intraday high on friday rising more than 1.2 percent just in early trading later up to 11 percent of the e-commerce giant also announced and now has over $150000000.00 amazon prime members globally and they saw growth with huge sales during its holiday season but amazon now joins apple alphabet and microsoft the tech giants who have also reached the one trillion dollar value meanwhile its largest competitor chinese e-commerce giant ali baba says that its production and shipments may face added delays this is according to are affected by the coronavirus billionaire and co-founder jack small also pledged 14500000 dollars to fight the outbreak i mean it's fascinating in a week that we talk about you know a global market meltdown almost as we look at things and amazon has really propped

things up and luckily and we're going to talk about this coming up after our next break but the markets are actually pushed up by these earnings and they really aren't amazon isn't hurting at least one bit i mean people are still buying people are still shopping even when people are saying oh. or close to recession this holiday spending may not be as high as other holidays but i mean you know so but it's so much for the people are going to spend as much of this holiday season for sure right well we'll see we'll see what happens like your time now for a pause quick break but. on the other side of the break global markets have begun to cool amid the spread of the throne a virus we take a big picture look around the world to see how they have reacted plus the day is finally here the united kingdom is now on the edge of its departure from the european union but after a long awaited break what will a relational look like we'll break it down and as we go to break here are the numbers out of.

the russian state television propaganda machine propaganda outlet propaganda tools we are in an information war. that can change the world tomorrow. we use an old you tube videos the going to sleep well structured today is the longest network on my. list plus your brush with russia russia and russia today as. well i was. relieved to hear that they were actually russia to live and i'm really happy to

join to see you then on our team. who are so proud and still. are just getting the number. why have you not shut down our t.v. on you tube it's a propaganda machine mr walker. i actually don't think monopolies per se are the problem it's monopolistic access to credit or to politicians and probably both crony financial ism crony capitalism that's the big problem. trade and investment have become magic spells to conjure economic development. most

people think about trade they think about services being exchanged between countries and the investor chapter of a trade agreement is about something very different but what when investment leads to toxic manufacturing the destroys secrets to the environment. that means local communities that are being poisoned if they object if they do anything that the company feels is interrupting their profits they can be certain. nationals are taking on the whole nation philip morris is trying to. just stop from implementing new tobacco regulations aimed at cutting domestic smoking rates orange company. egypt because egypt resists minimum wage democratic choice over trump corporate law joining us as we try to fund one of the

to. this week we're seeing another repeat of last week where markets continue to fall as a coronavirus continues to have an effect on global stock 1st we start in russia where there ruble based mo x. went down hitting a 7 week low this is despite rising oil prices and some gains during the week but it took a fall on friday as russia reported its 1st cases of the coronavirus then we go. asia where the shanghai actually remains closed for the chinese lunar new year holiday but it's already preparing for the reopening next week where it's taking some measures that were similar as to ones we've seen before they took nearly 2 decades ago during the sars outbreak then the song in hong kong also plummeted this week down 5 percent in just 2 days and it continued to fall this was as investors

returned after 2 days of close over the lunar new year now over in japan where the nikkei also taking a pretty steep turn before taking a big jump earlier on friday and then going back down to buy clothes now in india the sun sets also on the decline as it dropped 190 points just on the day indian markets have been volatile in the last few weeks this is as investors are keeping their eyes on tomorrow's big budget announcement meanwhile shares in australia took a steep fall while trying to recover throughout the week the a.s.x. was down or up rather point 13 percent on the day but they still fell throughout the week australian evacuees from china are being kept in quarantine for 2 weeks and finally we go to all shares in south africa that ended on a low this week as growth did not reach the expected points but on the positive gold stocks are doing pretty well in the end now over to brant for europe and the american thank you so much sara now starting in europe the markets are down across

the board starting with the cac in france it is down for the week taking a big hit on friday down more than one percent 30 day lows now again much of this reacting to the coronavirus with retail tech and manufacturing stocks taking a hit due to concerns over chinese manufacturing due to that virus now in germany the dax is facing a similar result falling more than one percent on friday alone the losses were headlined by volkswagen which fell more than 3 percent on the week transportation pharmaceuticals fell heavily for the week in germany but on the bright side which saw some gains in the banking sector and in london the footsie following the trend closely. the down more than one percent on friday alone travel took a big toll on the footsie with british airways easy jet and carnival all posting substantial losses for the week now moving to south america in brazil the evil vest but also down for the week after hitting record highs recently in fact this is the biggest weekly to count climbed in more than 5 months beyond the obvious concerns over the coronavirus sluggish economic data and the brazilian rail hitting all time

lows pushed markets down now heading north into north america the b.m.v. in mexico is our 1st green arrow in western markets now the b.m.v. took advantage of president donald trump signing the u.s. m.c.a. at the white house which also helped the peso as well and now moving up the u.s. it's a bit of a mixed bag the s. and p. $500.00 and the tech heavy nasdaq were able to end the week up while the new york stock exchange was not quite as lucky fears over the chrono virus and what it will do to the chinese economy and manufacturing playing a big role here on the negatives all of these indices dropped by nearly 2 percent on friday however with earnings being reported this week and those big numbers from the likes of amazon who are coming off the retail holiday season they were the push things up and get some of those in the positive not on our board during our market walk the dow also took a big hit on friday and going up to the great white north in canada the toronto stock exchange is down mostly due to that coronavirus pushing oil prices down due to a lack of travel so that's what you're seeing there so that is your weekly market walk

. and as the united kingdom officially leaves the european union friday the new block of just $27.00 nations will be looking to fill that void of $12000000000.00 euros per year which are generally contributed by great britain u.k. will continue to fund funds to the e.u. and 2020 due to the brag that agreement negotiated between the 2 parties speaking in brussels president of the european council charles michel made a point about keeping a tight relationship with the u.k. and working out a trade deal. on the negotiations which will begin with the united kingdom our intention is to carry things out with loyalty with the united kingdom as we have for the past 3 years and also to do it responsibly our message is very clear and strong the european union wishes and wants to maintain the closest relationship possible with the united kingdom but we must also be clear on the subject.

meanwhile the euro zone has witnessed slow growth in the 4th quarter of 2019 expanding by just point one percent and set of the expected point 2 percent growth in the block fell to a fix here low of just 1.2 percent and 2019 and inflation in the euro zone ticked up just 110th of a percent to $1.00 but well below the target a placement rate of 2 percent. and european plane maker airbus admitted it was guilty of making illicit payments to intermediaries around the world in order to win contracts the details of the allegations were unveiled friday and disclosed the playmaker plane maker reached a 4 $1000000000.00 settlement with the u.s. u.k. and french prosecutors airbus used an annual budget of about $300000000.00 to sway government officials and others to win business court documents revealed these illegal payments went to china south korea russia japan colombia and others now according to court documents that helped boost the company's profit by more than

$1000000000.00 the chief compliance officer at airbus said of the situation airbus is relieved to be here today after having had a rather painful past now earlier this week air bus had committed to settle the allegations prosecutors said the fine was cut in half due to airbus cooperation share buses or shares in air bus fell point 9 percent on the news but are still up over the past year the settlement ends a 4 year investigation for the french based company. and finally today your friendly neighborhood spiderman will be swinging over disneyland new adventures campus coming to a california park this summer now according to a video posted by disney parks on friday the animatronic spiderman will web sling in the air over the attraction while doing flips and other superhero esque moves before disappearing below some buildings and out of sight now does the added that the fans will apparently be able to web sling alongside spider-man however it's not

clear exactly how. that's going to work and whether it's safe but those who watched the disney plus series the imagineering story got a sneak peek at the development of spiting as they illustrated how disney's animatronic tack has evolved over the years by pretty fun would be willing to try it out but unfortunately about it for this time you can watch boom bust on demand on the brand new portable t.v. app available on smartphones through google play and the apple app store by searching portable t.v. or 3 months to your t.v. by downloading the portable t.v. app on apple t.v. and online at portable dot tv horrible t.v. will be available on more devices soon see you next time. during the great depression which old mr remember there was most of the family were working class there wasn't it was bed you know much worse objective listen today

but there was an expectation of the things were going to get better. there was a real sense of hopefulness there isn't today today's america was shaped by the 10 principles of concentration of wealth and power. reduced democracy attack solo debt engineer election manufacture consent and other principles according to. one set of rules for the rich. that's what happens when you put her into the. narrow sector of will switch with is dedicated to increasing power for chills just as you'd expect one of the most influential intellectuals of our time speaks about the modern civilization of america.

welcome to. max ties are plentiful survival guide. looking for. yonks this is what happens to pensions in britain. as a report. the president told the palestinian authority suspends all the united states and israel in response to double trouble middle east peace. this century also ahead on the program. after 47 years the united kingdom marks a historic day coming teles with the e.u. breaks it officially comes into effect the road ahead for britain is still. a sweeping new study by academics at the university of cambridge discontent about

democracy.