in the world corrupted you need to descend. to join us in the depths. or remain in the shallows. this is boom bust the one business show you can't afford to miss unbends one and i'm 50 i'm liking 10 coming up next one of my aunts doesn't seem to be going anywhere and that is creating a new set of fears on wall street and around the world. the past few weeks. just how quickly a new buy is going to spread around the world cozies widespread fear and disruption well how the latest class president how many of them not the rally

a long time and some money raising the nation's point economic growth. is rising as a prosperous and independent nation is an example to every day should all over the world and one of the most outstanding achievements of our century. and the u.s. is asking france for a safe haven for u.s. companies in order to help them avoid a european digital tax so what is that about and isn't the digital tax for u.s. companies going to have a live report so much to get to on this very busy day so let's get started and we begin with the coronavirus which is sending shock waves once again worldwide wall street was down today big time and global markets are reacting more on that in detail from kristie in just a minute but right now the cases of corona virus they continue to rise especially in italy iran and in south korea here are the latest numbers on the buy. as of

monday there have been $409.00 new cases of the virus and $150.00 new deaths that brings the total to $77150.00 confirmed cases in china with the death toll of 2592 in terms of china the jordie of the new cases 398 were in the who by province and that includes all but one death it's also important to know that many thousands of people have already recovered from the corona virus which again mostly places at risk the elderly and the very young as is common with these kinds of things among those countries though that we were just talking about italy is now looking to take more drastic steps after a 6 person has died there italian authorities on monday get this they shut down schools universities and museums across the country's north they also banned public and private gatherings including soccer matches and cultural events in venice indeed its annual carnival early and catholic church leaders announced the suspension of masses. and we have a total of $200.00 and. we have 5 we added in these last few minutes we

put it into an adult a 1000000 years old from. as i said earlier are 200 in 1000. and one. or both of the 200 people infected italy were in the wealthy northern part of the country around the lawn and as a result there are a number of border crossings around italy including in austria halting trains from italy romania demanding written statements from all arab passengers about their whereabouts in the country and germany stating that quarantines of entire communities could be required in germany if the virus spreads their. major us and next he's are off about 3 percent when the dow dropping a 1000 points mid day before recovering slightly as coronavirus cases outside of china surge there still remains a high degree of uncertainty surrounding the virus as no one knows how this ultimately will play out many analysts had predicted a sharp recovery some. without of sars however it will all depend on when the

situation will come under control the treasury yields are saying as investors flee to safety assets with a 10 year at his lowest level since 2016 and the 30 year hit a record low of $1.00 to $3.00 and the 10 year yield had inverted again and this is the deepest inversion since october 9th where the trade war was at its peak gold now continues to surge as demand is almost up 2 percent with investors seeking safe haven and starting to factor in the potential for a central bank rate cut to offset any economic damage from the outbreak the yen however which is a safety currency and generally moves in parallel with the treasury and gold that however is down with a couple of virus spreading within other asian countries this in turn is the yen now from an asset into a liability and it's almost down another percent monday and looking here at the equities heat map you can see how bloody this entire selloff is with apple disney tesla new video and all the oil names subsequently fawley with them with the most

exposure to asia however if we take a look at the little green specks of green on the map and there's not many green you can see that gilliatt here which is a front runner in developing a new experimental drug treatment to cure a coven 19 that was up almost 4 percent today and then over here you had all the gold miners here new harmony and beta goldcorp all them up about 3 percent on the gold rally and then finally interestingly enough we have a z.m. here zune communications and peloton rallying as workers rely on telecommuting and avoid public areas like jinns to prevent further spread the news flow now on colvin $1000.00 has taken another more negative tone over the last few days and we're starting to see a sizeable risk off move this economic toll is also starting to expand with manufacturing around the world showing the negative effects of the outbreak. and to break this down further let's bring in peter schiff c.e.o. of europe is it a capital so peter last time we saw the fed step in with an insurance type. cuts in

20 so do you think the rhetoric will still be the same this time around oh well they actually commit to cutting all the way down to 0 to a pandemic fears and possibly even going negative. whether they commit to moving to 0 or not that's exactly where they're going and in fact the bond market is telegraphing right now that we're going to have several more rate cuts likely between now and the end of the year and i think the bond market is right but it's not that this is the appropriate policy the fed should not be cutting interest rates but that's what they are going to do because that's the only thing they can do but it's not going to cure the coronavirus or the economy it's simply going to make the u.s. economy sicker. so you know we're watching the virus spread outside of china now it's a countries that are not as strict with quarantine as checkpoints come in these all city lock downs even though it only may have had a big effect on the markets because of the fact that their response has been to now institute a lot of these lock downs if you will read about 50000 people roughly are under

some kind of quarantine in italy not even close to the $60000000.00 we're talking about in china but for a european country to take those steps is that causing some of these fears to rise in terms of the spread of the virus. well certainly i mean the coronavirus fears are out there it's just one more thing to worry about look you know the u.s. economy for example is a gigantic bubble and maybe the coronavirus is going to be the pin i mean i have no idea but if it wasn't this it would be something else but there are some much deeper problems than the coronavirus the markets are in general are very overvalued you have a lot of leverage in the system if we had a healthier economy we could better withstand the coronavirus whatever it turns out to be but the bigger problem is the fed's cure is actually worse than this disease because if the coronavirus actually becomes an even bigger deal the real threat is that it bottles up production that fewer people are on the job so fewer goods get produced companies can't get the supplies that they need so you bottle up the

supply change and we get a shortage of stuff and the correct monetary policy is to drain liquidity to match the reduction in supply but if instead the fed understood other central banks poorer and even more liquidity and create increased demand for a diminishing supply of goods then you really get a big increase in consumer prices and that worsens the downturn you get worst case of stagflation now u.s. treasury secretary manage and said that apparently he does not expect that kind of bias to have any material impact on phase one of the tiny u.s. takeout or even the economy just like it is that the task at hand while we're also paid by china and not the consumers but whatever given the slowdown how is china supposed to deliver on a $200000000000.00 worth of purchase commitment when even privately before this entire coronavirus even started analysts are skeptical that. the overhaul minutia

is going to put a positive spin on any news and in the 1st place the chinese were not going to live up to those commitments anyway they weren't even real commitments and there's no way they know how much agriculture for example the chinese are going to buy a little. and how much they're going to buy from the united states so the whole thing was a smokescreen a cover of the fact that we really didn't have a deal but now the coronavirus actually gives the chinese a better excuse as to why they're not living up to a deal that they were going to live up to anyway and on trade you know we saw the u.s. dollars continuing to strengthen at this point shooting to a 3 year high versus the euro we've also seen president trump accuse other countries of devaluing their currencies to exports what do you think is going to start becoming a problem for u.s. corporates and u.s. exports and also in light of what's happening with the dollar right now we're also seeing gold going way up i know you're big on gold how do you think that shakes out . well 1st of all i don't think other central banks are deliberately weakening their currencies i mean they're pursuing the same type of inflationary monetary

policies that we are but what's happening is traders speculators are buying into the dollar because they falsely believe it's a safe haven it's not they should be buying gold and of course other people are gold hit all time record highs today in the euro in the yeah and in the swiss franc ozzie dollar canadian dollar a lot of countries currencies in the rupee you're seeing prices for gold that you know were gold was never traded at in the us were near a 7 year high but we're getting close to an all time high in $1.02 so all currencies are we getting right now it's just that the dollar is weakening more slowly than a lot of other currencies but that is going to change because people who are piling into the dollar because they think it's a safe haven are eventually going to pile out and the dollar's going to start to fall and in fact it didn't even hold on to most of its gains today it had some early morning gains but by the end of the day it had lost most of those gains. pacific capital thanks so much. surveying.

the president has kicked off a 2 day visit to india with a huge campaign style rally. alongside the indian prime minister mahdi on their way to the rally the president and 1st lady maloney and they visited the spiritual center where mahatma gandhi once lived that site is now a museum of the national monument president trump and spoke at that rally they called the mama's day rally in a massive 110000 seat stadium which is still under construction though you couldn't tell by looking at the pictures it's incredible he was praising india as a growing economic power and said that the nation would soon be home to the biggest middle class anywhere in the world. for the 1st time in history every village and india now has access to electricity. 320000000 people more indians are right down connected

to the internet. the pace of highway construction has more than doubled over 70000000 more our households think of this 70000000 more house elves have access to cooking fuel 600000000 more people have access to basic sanitation and incredibly 12 eat the and citizens are lifted out of extreme poverty every single minute of every single day. well of course president trump also took time to encourage india's leaders to continue our mean their military with american made missiles and rockets and ships in fact the president also one now nst $3000000000.00 worth of u.s. made helicopters which the indian indian military plans to purchase and the rally was i mean when you see the numbers just absolutely incredible how many people

showed up with this thing absolutely now do you think that come with actually turning his attention to india because face to as apparently delayed and whatnot i think there's a very very strong chance that that is the case right obviously he and modi seem to be akin to each other. they seem to be getting along pretty well and the president kept talking about the importance of developing the trade relationship with india because of that growing middle class but it's also interesting to watch the president doing this at the same time that amazon c.e.o. jeff bezos has set his sights on india as being the next big market so it seems like there's not just the president's eyeballs but a lot of eyeballs on india right now as the next 20 year for u.s. relationship does seem to be open and because his entire pop form is basically built on economic reform for india time now. because when we return the u.s. is asking france for a safe haven for u.s. companies in order to help them avoid a european to shell tax what is that about and isn't the digital tax for u.s. companies have a live report and as we go to break here the numbers at the. wrong

. wrong just don't. get to shape out. and in. the trail. when so many find themselves worlds apart we choose to look for common ground.

the world is driven by a dream shaped by. the dares thinks. we dare to ask. nuclear power become a battleground in the us in vermont people love demanding the shutdown of a local plant from my yankee is right now my focus because it's

a very dangerous oh no claire power plant the owner is attempting to run the reactor beyond its operational limit this case just sort of puts a magnifying glass on where's the power in this country where's it going is it moving more towards corporate interests or is it more in the idea of a traditional for just a few very democracies or powerline with the people this case demonstrates that struggle in very real ways a struggle on r.t. . welcome back france says it is ready to listen to a proposal from the u.s. government over a potential safe harbor for u.s. tech companies in order to shield them from a new international digital tax though francis finance minister says that he still doesn't know exactly what that safe harbor actually means but he went on to say

that it's fair and useful to give all the attention. to this new proposal quote well meanwhile the world's top economic leaders warned on saturday that an international tax fight between the united states and europe would pose a new threat to the global economy of a resolution is not reached this year so joining us now to help break this down is hillary forward to board member with the british american business association and she loves to talk to joel ties. start with this talk about creating a safe harbor or receive a been for those u.s. tech companies because at 1st blush when you hear that terminology it sounds like the u.s. is asking for tech companies to be given some kind of special protection across europe from digital taxes but the whole point of these digital taxes the entire conversation surrounds exclusively u.s. tech companies like amazon apple facebook google correct yes i'm actually going to say name me the european big global tech you know these unicorns are all american companies and that's because of our deregulation the obviously the inspiration

that's here in terms of the entrepreneurial spirit as well as all the other incentives financially tax wise etc in the u.s. i think what you're seeing though is you're beginning to see this global consensus you mentioned the finance minister of france that's bruno him saying this 2 days ago he was at the g 20 summit in. saudi arabia i think what you're seeing is that actually the tech executives are going to eventually want this because what they don't need is to have different kind of regulations in different countries and eventually my prediction is you will see a global taxation the question is what level and how that's the issue at stake what level and how now france and the only country looking to do this apparently italy spain austria and the u.k. they have all announced plans to have some sort of digital service tax and these taxes will actually be based on online activity by the people residing in that country regardless of whether that company has a physical presence they are not yet that's correct and actually stephen ocean our national treasury secretary he's actually said this is not really

a tax he calls it a carrot because it's actually it's a. sales tax is not on income and he's right it's not a tax it's a tariff so yes it's a tough when you mention the countries you're right totally it is also includes hungary as all of the other countries that you mentioned and many others they've already instituted some of these local taxes so i think again you'll see sweet you'll see a sweeping consolidation of this is interesting to note when you look at certain countries you look at different places where they like like ireland they actually incentivize companies to come there because of their low low tax rate that's what it's all been about and that's been a great rob of course between the u.k. and ireland as being them undercutting global companies and wanting to attract them to ireland which i think it's 80 percent of the country's revenue comes from global u.s. high tech firms so when you talk about the size of firms i think you're spot on when you say they don't want to deal with the hard regulations cross or taxes excuse me across europe because then you're having to deal with different rates in every country but they love the idea of the hodgepodge system that allows it to become

a tax haven rather they go right go shopping and for which country they want to be set out an alphabet alphabet apple and facebook play pay effectively under 10 percent in taxes and that's because of their position in ireland right now correct as we know facebook is actually in court right now with the i.r.s. over a $9000000000.00 tax bill the other a claim that you have right because of this position in ireland so at the end of the day do both of those things change is that ultimately going to be the compromise or you can't hide your taxes in one country but you're going to pay a flat tax worldwide or or globally i think that's what's going to happen in the long run that's got to happen because you've got to have some kind of uniformity i think what's a pity in a way is a lot of countries actually benefited from having its global take control of their from the jobs and the cash flow and everything and what we're if everybody's looking for basically i underpinning all of this is do we want stability and jobs to flow and income to yes so in some ways it's been good for the global economy on the other hand it's different countries pointing and saying we don't want them

doing now we want to and i certainly the positive. the competition that's created by lowering the sox is right colorado able to compete but when you can't compete on the taxation side then that creates another problem that's and i'm only it is a race to the bottom of the record which member with the british american business association always great to have your insights because they. a fascinating story as the state of new mexico is now suing google for the secret collection of information on children which included their location their browsing history and the videos that they were watching and all of that was done through a google suite of programs provided for free to schools across the state but the state says google was actually taking advantage of kids and families without their knowledge and was simultaneously breaking the law joining the shelves as well the girls contributor to america's lawyer molly glad that you're here. so

molly how hard is it for google to be able to fight this thing because right now we know that this has happened to them before so is this something that they are familiar with or what is their defense. absolutely kristie google is saying hey this lawsuit is factually wrong we would never spy on kids we took a pledge several years ago that we wouldn't gather this information to use to do ad targeting and lo and behold the new mexico says wait one second we're not buying this we think that that's exactly what you're doing so essentially a good portion of schools in new mexico about 2 thirds of them use these inexpensive often free educational tools that google provides and what this lawsuit states what they found is that even though under the educational products when these things like you know google docs or chrome box are being used and of course that's owned by google corps and bucks work with their operational software so

they're using these educational resources to further their educate. ation and supposedly it's not being used to gather information and it's not certainly not being used google says to use that to target ads however when kids do log on to their chrome books under these educational products if you will when they log on at home there's a feature that automatically syncs all of their devices to all the information that they're sharing with google through their educational products so basically it's a feature that google current turned off but they allow it to stay on automatically so basically as soon as a kid logs on after having utilize these educational products as soon as they log on to some of their other devices that chrome browser unites all of those devices and so they're able to see what these kids are watching where they are physically where they go who they talk to how long they're watching what videos they're watching who's in their contact list who is they're texting and so parents are pretty outraged as you might imagine and certainly this is not the 1st time that google has heard these accusations is that it's why they had to take that pledge

several years ago that they would not take advantage of children and to get state laws it's against federal laws and that's what the age of new mexico is alleging even though google is saying hey you're factually inaccurate that's not what we're doing he's basically saying yeah well prove it yes so 2 quick points on that number one google was essentially giving away these chrome books right they give them away for free they actually believe google is more pervasive in public schools across america than even apple is because they give away so much product but now we know what the other point is is that google doesn't really deny the trucking right there just denying that they were using it for advertisers so there's no good there's no argument here and i think what it comes down to molly will give you the last word here is it really comes down to who owns this data to google have the right to collect this data and collect all this information even if they are not selling it or do they have to get permission before they do it last we're. yes absolutely you're supposed to according to federal law children under 13 have to get consent

from a parent in order for their act information to be. accessed by companies like google or amazon or any of these other tech companies that are essentially like you said gathering data harvesting it on any and all things that we do so while they're saying they're not using it to target as new mexico says you know we believe otherwise and so you're exactly right i think what's going to happen is that you're going to have to see legislators federal and state take a hard look at what can be done to keep these companies accountable and keep these tech companies from basically profiting off of private data where we in turn perhaps going to have the option to sell it to them or at least give our permission by going to the use factor of it these laws really need to be addressed i think we're behind the times when it comes to federal and state laws when it comes to protecting children and their information because tech giants like these guys they can gather that information and they want to tell us they're not doing anything and as we've seen over and over again they do what they want with that and they pay a fine it's a slap on the wrist and they keep doing it while the girls contributor with america's lawyers acting so much. so how hard is it to remember your password to

access nearly $60000000.00 or if you really can remember it can you manage to keep your password in a safe place and not lose it well apparently clifton collins an irish drug dealer could not do either and in the process lost access to his stash of $16000000.00 worth of decline so collins printed out the keys for his big when accounts and hid them in the aluminum cap of this fishing rod case which was then stored in a house in county galway ireland so so far so good but then he was arrested after police busted him for $2000.00 worth of cannabis in his car and was sentenced to 5 years in prison break so his landlord who hasn't been able to collect rent make it in the house and dumped all of collins' possessions including the fishing rod into the dump the dump was shipped to germany and china to be incinerated and the keys to $6000.00 bitcoins were then lost forever. i mean it's unbelievable you have 60000000 dollars with a big calling and you can't go get a safe deposit box someplace to put this in instead of keep it in that piece of

junk inside of your apartment everybody wants to steal a safety deposit box. maybe he thought that hiding it in a fishing rod was apparently a good idea right i mean that apparently he thought so and now we know that was clearly a terrible idea but i guess the question becomes what are the steps that you take i guess the other thing you could have done is it could've put it into a google doc and sent it to exult on the internet it would have been just as unsafe to do that or you could just remember it not that hard or you could do what you do you get a little tattoo that has all of your your numbers on your arm right there always and always there like i did actually hide it and i looked and i do the say i can put that safe in the hidden location and then only tell your best friend. so one other person will know them like that about that by this time you can kind of boom bust on demand on the brand new portable t.v. app available on smartphones the google play and the apple app store by searching portable t.v. are extremists to your t.v. by dialing a viable t.v. app on apple t.v. and online at parwan dot tv by one t.v. only available on my devices very or as always you can check us out on you tube dot com slash boom bust r t no secret password required so yes there see you next time. in

the troubled 19 seventies a group of killers rampage 3 cups of mills and that was coordinated loyalists attacks particularly on the population of tens of thousands are forced to flee their homes come up with strike and put these attacks was that the are you see the police actually took part in the attacks so instead of presenting they were active participants in the burning of schools streets and belfast take more than 100 innocent civilians with. as the review can seniors and we found out more i was

surprised about the extent and the take rates which the solutions. i was involved in some of those cases the killers would lead to be named. and we're getting i think it went to the very top i think it is. the water where all the tastes and you know on the go ahead. the point is should we actually be charging for it because this is when we charge for things it's because it's a benefit to the person who's buying it and that's the audiology took over education about 30 or 40 years ago but the perspective of education was originally that education is a benefit for society in general i would want to live in a society without doctors or engineers to happen without economists. saying it of being a private benefit ignoring the public means that we're ignoring that the skill basis

we need for a sophisticated society and putting the burden of that school biases on the individuals and what we've turned it into is just now the china institution of higher education become a form a version of a real estate scam that is not the bisons for a functional society. live from moscow 6 pm in the headlines this started with this the wiki leaks founder julian ridesharing getting underway in london for a 2nd day his lawyers claim the whistleblowers think badly mistreated by british authorities their locations have been echoed by the other supporters to. a man of course who is not too well where everything was done to show millions and make a life and bearable for him. he has not have had a proper chance to prepare for this trial. elsewhere in the south through the ship shouldn't government.