1st it was bowie's now airbus is the scene. now that it's been hit with a series of fine what it means for every space in the company's management team so much to get to on this very busy day so let's get started. and we begin with a huge new surge of over 15000 new coronavirus cases reported on just wednesday alone and that news was enough for china's leadership to oust 2 communist party leaders in the who by province in the center of the outbreak the news of those new infections means that indications that the virus was beginning to taper off that's what so many had hoped for is simply not accurate and when it comes to markets they reacted markets down today thanks to concerns that the worst is actually not behind us after all and that china's health commission has reported more than 1300 deaths and now more than 60000 infections aside from the 2 party officials who have been ousted in china hundreds of other officials have been paralyzed and dozens were

fired for not properly performing their duties during this outbreak. and for all of this we're joined by boom bust co-host christiane who is joining us once again from los angeles christy thank you so much for joining us today. christy after record highs on wednesday the 3 major benchmarks here in the u.s. the dow the s. and p. and the nasdaq all took early losses before kind of stabilizing in the afternoon and just taking you know fractions of a percent off but at this point do american markets actually have any idea how to react to what is going on with the quote a virus. well at this point i think you just pointed out the markets really don't know how to react because don't forget today midday we did hit all the new 52 week highs again in the s.n.p. 500 so at this point the bank of markets equity markets know that no matter what happens the central bank is going to be ready to bail it out so the good the bad news is good news narrative is still very much intact so in times like these we always think that the fixed and. the market is much more accurate in these market

predictions rather than equity markets which as we know are subject to the central bank manipulations but so if we look at the treasury's right now specifically the 10 year treasury we see that they have actually dropped to $1.00 down from a month where we are $1.00 so that shows that there is this level of caution in the u.s. market and that the equity rally right now isn't really warranted people investors are actually more selective these days so of course you see the drops in apple you see the drops in nike and all of the big u.s. names that have really big in china but relative to the u.s. has actually been relatively insulated from this entire coronavirus episode up until now analysts do predict that if this virus persists and we get into the mid april time line then we will see some more effect spread such as tyson foods such as wal-mart and we will see start seeing shortages and impacts in those stores and we will start seeing empty shelves over in wal-mart as a lot of their production relies heavily in china and what's more so disturbing is the fact that

a lot of medical devices and medical equipment are actually manufactured in china a lot of parts are supplied from china so when it gets to april and may timeframe and we still don't see an improvement that's when it gets very concerning for us market yeah absolutely i mean i think you're great point about the bad news is good news kind of scenario markets reacting to that but the markets which as you want to talk about all the time right are so propped up that is the manufacturing issue right because a lot of these companies and you're fracturing plants and trying to have hope and to have hope excuse me to reopen and start working again either this week or next week and there was a lot of hope that that was going to happen when you suddenly have the surge in a single day over 15000 cases are we looking at now weeks even months before we get production back online. we are definitely looking at we start hoping to open as soon as possible so every single day you get new data points so it's really uncertain at this point when certain plans are going to be open and. for business

so far only the mission critical plants are open such as utility plants power plants those that are that i needed for basic industrial industrial production but as for anything such as producing i phones are producing clothing retail those are 2nd priority so those absolutely take take the 2nd half i want to talk about the chinese economy when it comes to the impact on the coronavirus here earlier this week we actually had an opportunity to speak with one. out of beijing and he spoke about what is being done to make sure this doesn't have a lasting impact. in fact just c.p. b.o.c. china's central bank injecting one trillion yuan or $170.00 around $170000000000.00 us dollars into the market to boost the could be making lending easier and if sars is over and the indication remember when sars was rampant in china in 2003 the chinese economy went from 11 percent in the 1st quarter. to 9 percent in the 2nd quarter but when the epidemic was contained the growth rate

bounced back to 10 percent and that grades continued for the subsequent weeks quaters and years kristie what do you actually make of this analysis from. i think what he says is absolutely correct that if once this entire virus is contained actually rebound in a very strong way because let's face it there is no other nation in the world who is as good as mobilized nation in terms of getting the personnel and the resources that are mission critical to a certain place at a certain time in china has been amazing at that so they have been extremely good at isolating and contain the virus up until this point and so once everything is contained i do think that china will be able to rebound and a strong way however that remains the remains the point of uncertainty right no one knows how long this virus will last it's going to be like stars and naturally die out within the 1st 2nd quarter if this actually does persist we can expect to see a few g.d.p. points being shaved from the estimates christie will certainly keep talking about

this and covering this story and following up on what is happening here on who boast of course christiane co-host of boom bust thank you for your insight by heading there because we're going to bring you back here in just a couple minutes. so just one day after the u.s. government declassified information about how they say while weighs the threat to national security the chinese mobile company is firing back in a 6 paragraph statement cinta news organizations wall way is defending its company while punching back at the u.s. as a nation that has a history of spying through telecom networks part of that statement reads quote as evidence by the snowden leaks the united states has been covertly accessing telecom networks worldwide spying on other countries for quite some time the report by the washington post this week about how the cia used an encryption company to spy on other countries for decades if you. additional proof in quote this week u.s.

officials claim that since 2009 while way has been covertly able to access mobile phone networks around the world through back doors designed for use by law enforcement while he's response to that that u.s. allegations are nothing but a smokescreen stating in part quote they don't adhere to any form of accepted logic in the cyber security domain while way has never and will never covertly access telecom networks nor do we have the capability to do so the wall street journal is clearly aware that the us government cannot provide any evidence to support their allegations and yet it still chose to repeat the lies being spread by these u.s. officials this reflects the wall street journal's bias against wall way and undermines its credibility again in quote joining us now to discuss we bring back christiane from los angeles and also todd shipley the c.e.o. of a software so i let me start with you here because this roll street journal claiming it's essentially this quote they said that while weight was required by law to build into their hardware knoxy no way the telecom companies are required by law to

build into their hardware ways for authorities to access the networks for lawful purposes but are also required to build equipment in such a way that the manufacturer can't get access without consent of the network operator the us alleges that while way violated these laws by building equipment that secretly preserves the manufacturers ability to access networks through these interfaces without the carriers knowledge why waste response to that is that while way is only an equipment supplier in this role accessing customer networks without their authorization and visibility would be impossible they say we do not have the ability to bypass carriers access control and take data from their networks without being detected by all normal fire walls or security systems all right enough of the quotes there so the fact is this even in the journals article which i read intently yesterday and read it again today the u.s. did not actually provide any concrete details about these back doors including where they were happening and on what networks they were. happening so at this point why doesn't the u.s.

provide all the information they have especially if it's already declassified. well i think that just got blown out of the water 2 hours ago when the united states just released this 16 count superseding indictment against walkway which details since 1000 will since 2000 that they've been in fact adding code to certain pieces of equipment in being able to. watch data going by so i think we're always in real trouble now because things changed since yesterday. so let me just follow up with you on that so based on what they're saying then in this indictment because i have not read it but are they and i know it just came out right are they claiming then that because while we is claiming that even though it can see code it cannot access any of that without the telecom companies and the wireless carriers knowing what they're seeing is the u.s. government claiming that that is not true that they're able to do it without being

seen. yes exactly that's exactly what the indictment is claiming it is claiming in iraq a tearing case that was way has systematically for 2 decades been doing exactly that that they've been stealing that not only the data but they've been employing employees to go into companies and steal intellectual property been going all over the world putting their people into places and getting those employees to steal data and information as well as that they've been putting code and then they detailed in great detail in the indictment the 2000 to 2002 i think it was a time period where they were putting information in being able to read information from the routers that they were manufacturing so i think you know since yesterday things have changed the government has released a lot more information and more will be forthcoming about what they've done but the indictment is 50 some odd pages long and pretty detailed and i was able to review it briefly before we started the show but it's pretty striking how much they're alleging that while we've been doing since you know for the past 2 decades it's

extremely interesting yeah chrystia we're going to ring in a 2nd but i want to follow one more time tom i apologize but i want to follow up the hill again this is so new but one of the questions that we had yesterday about this is the fact that the u.s. supposedly knew about this since 2009 they were able to locate it since 2009 is there anything in this indictment that indicates why the u.s. allowed since 2009 this to continue without raising the red flag because it's a let's face it the calls in the warnings about why wait are fairly new and if you're talking about this has been happening since the year 2000 that's 20 years this has been going on what took so long exactly well i can't speak to why the government has done this but the indictment goes back that far and if we look to what they've been doing you know the police just arrested 2 people for spying for the chinese one being a wall way employee so i mean there's a lot of things that are starting to come out i think because there's been so much pressure put on a wall way about what they've been doing and people are starting to reveal what's.

happen now with the presidents always daughter being arrested in canada in her you know pending extradition the united states i think there's a lot of things that are just starting to come out while we've been denying this for the longest time but i think we're finally starting to see that the united states has put the case together that they want to present to show that was always been a company that's you know been stealing intellectual property and been putting code in devices to try to watch what's being sent the data being sent across networks. kristie we got to bring into this conversation here and i think we can do this simply how do you respond to what todd saying i mean there's a lot of new information here and i know you've been following this story very very much as well so what do you think about all this. yes a lot of news just brought but we have to wait for a while fall is going to say in response to this as ben just pointed out if the u.s. had all of this data since 2009 and this they spend this 18 month long campaign against this past year year and a half actually in order to persuade european nations not to adopt into their

technology then why haven't they presented hard evidence before so far a lot of this is just allegations even though it is very detailed and very documented we have to go and look at what the facts are and while they i'm sure is going to have response to all these allegations and now i want to ask you as well just looking at this obviously now we're getting more evidence that evidence that i think a lot of people have been asking for but in reality here you know we do the report yesterday they had shared all this intel with germany germany said hey we're still going to move through because we have ways of protecting our networks on our own so you know now they're giving this indictment they're telling us all about this stuff but still we have you know an ally of ours in germany who is still saying hey you know what we looked at the data we saw this we assume it's the same and you're seeing we saw this and we're fine with it so what do you make of that decision. well i mean every country is going to make their own decision in that same report

was the u.k. it would. said that they're going to do it but if you look at what they're actually saying they're going to do they're not allowing the specific kinds of problems into their network because they're saying while we can provide in tennis and you know small objects that are going to have code in them and so they're going to still buy products from while we but just not the things that we think are the problem so we'll have to see how far germany goes but it's kind of. a little bit of a mis you know number that they're actually just call it while when they're actually doing it with some restrictions i think based on the fact that they know that while he's trying to steal the data well i think that's true i think every country that's talking about allowing wall way to build out their 5 g. technology is also saying to your point they're not going to get to do all of it they're going to be in a very restricted position. by the way our producer is telling us right now that they is just crossing to the d.o.j. is now added additional criminal charges here in the u.s. against the wall way based on this so it is important to note too for viewers who

are watching that an indictment in court is not necessarily evidence so prosecutors lay out their case and at times they have to then go back and they have to prove that case they have to prove that they have evidence to back up certainly what they're saying certainly having said that. one of the issues that has come up in this debate and this discussion has been the issue of evidence and i know with boris johnson you mention him he keeps saying you've got to bring me more and he's probably been one of the more outspoken world leaders on this saying we want to see more and there was an interview on fox business where essentially the chief security officer for the way got up and said bring it on show me the evidence how important todd we only have about 30 seconds here how important is it that the u.s. is crystal clear now that they've taken this step you've stepped across this line you've crossed the rubicon for lack of a better term to be crystal clear about the evidence you have and to making a clear case for that evidence last word. well i think that the indictment begins

that process and it certainly lays out a lot more information we didn't have up until this point none of the reports of detailed a lot of what the they're alleging in the indictment and i think that's going to start being the things that we're going to have to talk about more and more in the near very near future about what's alleged because there's so much there we're going to have to come back next week and talk about it every day because there's so much information that indictment i was going to say a lot of reading for these. and also todd shipley over of their software thank you so much for joining us both. thanks for having me . and time now for a quick break here because when we return 1st it was boeing and now air bus is facing billions of losses now that it has been hit with a series of bites what it means for the aerospace giant and the company's management team we're going to tell you and as we go to break here the numbers at the close.

seem wrong. to shape out. and. when. we choose to look for common ground.

lead. now at 2020 we have the global potential pandemic here and people's fear is compound it by the fact that there's nothing in the global economies anchored anything. else so you have this remark paranoia.

disorientation in a world around any kind of solid anchor and it's only going to get more chaotic. the liberal media are fickle they fall in and out of love quickly and often not long ago they were infatuated with. now we're smitten by. the media love to drone on about their preferences in the mean time. their candidates. we know in psychology that the more people are told that they can't or shouldn't do something whether it's sexual or otherwise the more it makes them want to do so trying new things violating taboos are some of the most common and pervasive elements in our sexual fantasies.

welcome back to late thursday a judge temporarily blocked the pentagon's jet icloud contract which was awarded to microsoft and not to amazon which is why amazon is suing and the judge is slowing everything down according notice with the injunction was filed on thursday but was apparently sealed and therefore it's not public and nobody seems to know why amazon web services or a ws which has filed the suit was also instructed by the court to set aside $42000000.00 for any costs and damages that could be incurred in the event that this injunction was issued wrongfully as we reported amazon's lawsuit claims that president trump wrongfully intervened and blocked it from receiving the 10 $1000000000.00 contract over 10 years because of his dislike for amazon owner jeff bezos shares of microsoft fell on the news amazon stock rose just a little bit. well big oil is down today dropping by as much as $300.00 in just one hour just as the world's largest crypto currency was about to break through the $10500.00 mark meanwhile wells fargo is pouring some $5000000.00 into

cryptocurrency forensic firm elliptic in hopes of creating products that can help crypto exchanges build relationships with banks the main product elliptic discovery is designed to provide a bill of health for over 200 crypto exchanges worldwide services will provide everything from how those exchanges conduct. know your customer checks to whether they're regulated in the 1st place and live to co-found or tom robinson tells us quote previously a baby just didn't know much about the exchange that was going to open an account with them this will give them insights into how risky or otherwise a given crypto change is so let's bring back to los angeles kristie in a lot of ways it makes sense for wells fargo to help get it lifted off the ground because so many banks as you know they want to work with crypto but the regulatory grounds been to say it's been shaky is probably an understatement right. it doesn't really make sense because wells fargo kind of now wants to get involved into the

entire case due diligence sleuthing space when they were actually the ones who actually made a complete mockery out of k y c in the early 2000 they were the one who altera client data and did not perform any due diligence on all of those fake accounts that they opened so it's really interesting that they're trying to kind of re brand and revamp their image to become more high tech more into what the other big bulge bracket banks are doing in order to compensate for all their losses in the past years. is one of the concerns here that elliptic. level really becomes a gate keeper and new exchanges will almost have to get very approval i mean so it appears that instead of you know look at the regulatory body we're just going to have to go through one company now so does this create its own set of problems in this situation. it does and in a way it does make sense for wells fargo to get in on this business because put it this way this is a very profitable and lucrative business this is the equivalent of any ratings agency any credit ratings industry that we have in the established equities market

so anyone who rates companies and rates them triple b. or aaa that kind of gives companies investors confidence in what this company is about and so this is a transition going to be a ratings agency for crypto exchanges so while they might start off with good intentions let's look at what happened in the last financial crisis that was in the ratings agencies played it indisputable role in furthering the financial crisis allowing banks to take on enormous amounts of risk that they were not aware of because they're a 3rd party and banks trusted that 3rd party information so same way here with this ratings agency if they become the go to to factors rating agency for all these exchanges banks are actually going to rely on this information and who's to say if these exchanges fail and then the banks are on the hook they're going to turn around and blame their ratings agency and be like they told me it was safe but the ratings agency is going to be we just provided a rating you guys actually were supposed to perform your own due diligence and so i was just going to go round and round in a circle playing the blame game of who's really at fault for doing their due diligence whereas if we look at another example silver bank located in san diego

they are the premier bank right now for banking currencies they're well known in space and since their i.p.o. last november their stock has climbed over 30 percent so they're kind of like the gold standard right now for banking in the space performing their own due diligence their own k.-y. see for every single partner that they take on they're the gold standard but they're not necessarily the institutional guys and so we'll see how that works we do see big almost rise above 10500 i know you had your fingers crossed there before pulling back today do you think we're going to see more retraction or as we see in the past you think they're going to regroup from where it is now and then take another shot up again. well it's only going to regroup and take another shot but it did hit the $10500.00 mark about 3 times afore. pulling back so it seems like that is a pretty hard level of resistance right now but right now we are heading into the happening so everybody is very bullish into that and i think i should point out that $300.00 drop if you look at the volume there the selling volume was actually miniscule so

if there actually was a sell of their actual was a big big rush for investors to come out we would have seen a much bigger dump there there was simply a matter of illiquid am falling at that time so that $300.00 drop wasn't really a big deal and we certainly expect it to regroup and start climbing its way back up it's almost like a repeat of what happened early last year in like 30 seconds here can you just you said have been is on its way the housing is on its way almost sounds like something out of us stephen king book can you just give people an idea of what that means. yes so the 1st having that we actually saw that having boosted the price 80 times the last having that we had in 2016 but boosted declines prized by 4 x. what it was starting in january of that year so this while this have a we're certainly expected to see a smaller boost as every single having there is a diminishing return there we do expect to rally into it as previously given historical as we've seen tremendous rally and support every single time gearing up

for it because as we said the rewards of our big one is diminishing and so this is going to become a highly coveted asset amongst most investors that having when things are actually split in half. because the i think so much more valuable when they're scared to leave thanks so much for your time enjoy their time in l.a. . thank you. and finally the massachusetts attorney general's office has accused the cigarette manufacturers jewel of targeting advertisements teenagers that's not really new the state's attorney general morra healey says the company bought advertisement on the websites of nickelodeon nick jr and the cartoon network which you may understand this. are frequented by under-age people now the lawsuit also alleges joel had turned down a marketing package aimed at adults in favor of one that attempt to win over the quote cool crowd now they also claim that the cigarette manufacturers try to

recruit the likes of miley cyrus and kristen stewart celebrities with big under-age followings now. julie another cigarette manufacturers have faced criticism after some users suffered chronic illness and in a small number of cases have even passed away now flavored cigarette pods have been banned in the united states although jewel has already stopped selling or had already stopped selling their non-tobacco and non menthol flavored products well that is it for this time you can catch boom bust on demand on the brand new portable t.v. app available on smartphones to google play and the apple app store by searching portable t.v. and also stream us to your t.v. by downloading the portable t.v. app on the apple t.v. and online portable. portable t.v. will be available more devices to see you next time.

the holder dr eric holder former attorney general under obama this is the idea that bang. it's just dumb acclaim poured they can't be processed because this would be a danger to the society as a whole but what's remarkable is that this idea has bled over into other industries so now boeing has a major scandal on its hands and it is claiming that

a systemic way important in the law doesn't apply to us other agricultural companies are saying now we're systemically important we're above the law that is leading to bionic laptop or see this becoming i think it's a caca stock or c. is the right word it's ruled by the least qualified are now in charge of running the economy and the results are obviously catastrophic. in this community there are people who believe that it's ok. it's really hard there are no jobs and you see that i've got kids that ask and as a parent. i can come up with lots of arguments and there's a lot of conflict within the game and between the 2 most of the conflicts i would say are overblown as rahmani and most of their money is made. close one money to

this goes to you know each other is good because the state of california alone makes 6000000000 dollars and you have to prison complexes to get some point in your life where. you don't care anymore no ice cares about you so you don't care might anything. the un human rights. $100.00 companies which is also. the face of threats from government its chairman highlights the growing influence of countries. in the media. on the job search. 75 years since the 2nd bombing campaign which left an estimated 20. 5 story. parents rushed.

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