holloway and president trying things to get a phase one trade deal done with india before the in the b year so what will that look like richard wolffe break it down a lot to get through on this very busy day so let's get started. and we begin with the very latest on the coronavirus as around 2 pm eastern on wins the markets though here in the u.s. once again after what looked like was going to be a rally that fall seem to correlate to news that a group of people in nassau county new york have been voluntarily quarantined with about 83 of them being looked at for possible contamination from the coronavirus for the latest on that let's go to correspondent truly be child those who has the latest in new york at least 700 new york residents are under voluntary quarantine after returning from mainland china this as the c.d.c. is warning that the number of cases in the u.s. is expected to grow. the vast majority of travelers deemed medium risk by new york state health department officials because of recent travel to mainland china

meantime none of the 700 people had symptoms and the number of them being monitored by local health officials is changing every day and nassau county officials are monitoring 83 people who may have had potential exposure to the corona virus and test results for one resident is pending the infected residents have also been asked to undergo voluntary isolation removing themselves from people including their family members for at least 14 days from the last time they were in mainland china or may have been exposed to the virus during this time they are required to report their temperature and any symptoms every day to nassau county health officials since the outbreak of the corona virus 175 people in nassau county have undergone voluntary isolation and in west chester more than 2 dozen people have been quarantined after possible exposure to the virus as well even though they did not display any symptoms now the c.d.c. is warning americans at the corona virus is likely to spread throughout the united states and it's not a matter of if it's going to happen but i. matter of what reporting any ortrud of

the charges are to and again the news of those 83 people being quarantined sent u.s. markets into a downward spiral now for the 3rd consecutive day meanwhile in europe health officials have announced that italy's outbreak has crossed the alps and it seems to be spreading across europe in italy $374.00 people have contracted the virus and of those 12 of them have died all of them elderly people with preexisting health conditions well now it is the italian outbreak that is being linked to a growing number of infections on tuesday switzerland reported its 1st case about 80000 people cross over from switzerland to northern italy for work each day german authorities say that a person who recently returned from milan is now a confirmed infection as well and for italian tourists visiting spain's canary islands have tested positive for the virus that means about a 1000 people at a hotel where they were staying are now under quarantine as a result russia is warning its citizens against visiting italy kuwait has suspended

all flights from italy until further notice worldwide there are over 81000 confirmed cases of the coronavirus and the number of deaths is that 2770. 4 u.s. equity markets are easing off their panicked plunge and instead start to slowly bleed out throughout the day falling from its morning highs and ending negative the morning pop can be attributed to short covering and a little dip by as investors prepare for market correction early morning gains were faded by noon as the bulls spent the rest of the days trying to defend yesterday's close to no avail the heightened global uncertainty has rained hell on global equities this week with every sector outside health care getting beaten down airlines and hospitality are down on travel lockdowns banks sank as 10 year yield hit new lows taxol hard from its lofty highs and exposure to china and retail is getting choked by supply chain disruptions and finally energy energy is dying a slow death as a $50.00 level is critical according to most analysts this is the inflection point . where they start to not be able to service their debt and now there is about

$87000000000.00 in debt do between now and 2024 and 60 percent of it is speculative junk so when oil implodes under the weight of all of its debt burden all that shift over to the banks who loaned them the money and the cycle of value destruction starts all over again and there's a tremendous amount of uncertainty as investors struggle to price in the likelihood of 3 important question how long is this epidemic going to last and how severe will it be what is the full economic impact of this disruption and will there be any knock on effect such as if oil were to go down in the u.s. or banks starting to go down in china bad loans how long will the recovery period be to get back to normal and will that be enough to keep us out of a recession. and for more on this we welcome former u.s. representative dr ron paul who also wrote the book and the fed so dr ron as the seller continues now in europe the 1st thing we should have done was to try to contain the corona virus and prevent the further spread unfortunately italy

admitted that they mishandled the entire situation the virus has spread rapidly throughout a crowded hospital where a patient was admitted for treatment furthermore now the e.u. officials have refused to implement any border controls insisting that the sanctity of open borders is more important so is the european situation worsening right now because of this. oh it's hard to figure it out because the news won't generally help with loud i think there's been a lot of scare tactics going on it's hard to figure out what's happening but we certainly know it isn't 917 all over i think it's probably closer to 1976 where there was a false alarm nobody died from the flu this is very very serious and it's dangerous and you have to try to figure out what they're doing but i just can't get as concerned as the world is right now you know this current year we're over 650000. people died from the flu no we even talked about that we lost

10010000 people in this flu season and we haven't had one death really from this new virus it's still very serious but closing these doors and trying to figure it out i don't think anybody knows the correct answer all of that i think people should be cautious but the reason i mention 1976 they made so many mistakes nobody died from the flu they rushed a vaccine through more people died from the next thing and 500 people got guillain-barré syndrome so 1st do no harm right now trying to figure out exactly what to do nobody has the knowledge of who gets quarantined or not i just was sort of you know how is this going to help log some thousands of people up on a ship and don't let them go and you know you have 10 people on there the sick you know i got up on a ship i would have been very unhappy with that so there's

a lot to learn about how to manage your players like this it's there's a whole conversation we could have simply on the response the governments of had so far but just in terms of the markets you know germany is getting squeezed the kind of rushing to limit the impact of this coronavirus it's being called an epidemic though the numbers are still awfully low to cold enough to make as an export reliant economy it's already getting hit from its large exposure obviously to the chinese slowdown now germany has to worry about its neighbor italy has to worry about everything that's happening there a 7 percent drop in industrial production already how is germany expected to kind of prop up the rest of europe with this going on and are we seeing too many i guess that we're propped up too many prop ups of markets and governments right now. well that's goes on and loosely and they've been propping them up pretty well for the past 10 years and that's why they're so much distortion and so markets go down with an excuse. and episode like this. virus is an excuse but the markets we're doomed

to go down there still are going to go down is not going and going to stop them but that's what the purpose of governments are especially the federal reserve is the propped up markets keep up the stock market and this is this is going to continue because you know the market hasn't made a correction but i think people are looking to who are going to blame for this well this blame the viruses blame the pundits and who knows what but there's not much talk about you know the federal reserve and others who could distorted these markets no matter which country you're in around the world but it's it's a problem that has hit hard on the economics but i think it's out of proportion just the other day rod ayers rock russian style rose of son who at the c.d.c. sent out a message of panic panic panic in the market when i'm out 1000 points immediately from her reaction and and she's and she's no nonpartizan and this was this was the

day to day it did damage to the markets and a bit republicans and the democrats in tromso overseas and republicans and democrats are both i have billions of dollars are we going to get we need billions of dollars to handle this and what's the fed going to do and right away we're involved in politics that's what happened in 1976 because i was very much aware i was the 1st week i was in congress because they appropriated money and they rushed to look around and it ended up more people died from the shots and they did from from the flu so i think there's doing way too much over speculation but i think what you're talking about then is how do you sort this out how much of this would have come anyway i think these corrections were overdue the excuse for doing it recently was the virus and now the big game is who gets blamed who gets blamed for this and unfortunately it's not going to be the people who who you know badger the fed and the car. or suspend and print more money you know that's that's where

the real problem is but they're not going to do it they're turn it into a political event it's all trump's fault or something like this and that's that's the reason that i get pretty annoyed with discovered in the media and now in the u.s. market we've had 2 days of very nasty sell off but we have an easing on wednesday you can hardly call that a correction you see a lot of buying already and that's a pattern of behavior in the u.s. market because this defying really isn't justified at all just a habit because investors feel that it's safe to buy back because a central bank will always be there to prop it up so at this point it's not really investing anymore it's more self financial speculation so how long can this possibly go on for. you know i don't know it might have ended already because although the market went down twice and it was up a bit today it's already started back down again and then when you talk about well there's a haven but people who know they might just go and buy gold i did that a couple days and really really pushed it up but all of

a sudden we find out that the bank of international settlements dump is of gold and the gold market went down sharply by have been a correction in the marketplace do anyway but your point that the governments will be involved how i long would be affective well that is a good decision that the market only the market can can make you know this was before bretton woods broke down there was a lot of effort to break down the bretton woods and then finally it collapsed and that is what will happen here the federal command and they will do all these things and prop up the markets what just think of what they've done since september 17th of last year when the repo market seized up they've been printing like crazy they say oh well but this isn't this isn't q.e. this is this is different but billions of dollars are being spent and they shift their gears so they have a lot of tools the only thing that will you. to prevent the continuation of this

will be the confidence in the dollar or and along with the confidence in our foreign policy and i think both of those have gotten themselves into trouble our monetary policy spending policy economic distortion 0 interest rates it's all coming to an end and the question is going to be next week is this it are they going to keep propping up i'll tell you one thing they're going to keep trying they're going to monetize they're going to print and i think bernanke had it he says we'll drop the money out of helicopters if we have to because that's the only thing left and then we can't manipulate interest rates down and they will go to the drop of the helicopters as they must of all u.s. congressman and author of in the fed dr ron paul thank you so much thank you. apple shareholders and wednesday will vote on a proposal critical of its moves to remove the apps at the request of the chinese

government this motion was prompted by numerous allegations of apple quote kowtow to beijing and blocking apps from brought forth by the some of us group which is critical about apple's relationship with china now keep in mind china is one of apple's biggest market was sales in the region growing more than 20 fold within 5 years china accounts for 17 percent of apple's total revenue and continues to be a rapidly growing market now in the proposal it cited apple removed its i book store and i tunes movie services from devices owned by chinese customers it also riveted several v.p.n. ads which are used to bypass the state firewall the some of us group demanded apple to disclose a quote description of the actions apple has taken in the past year in response to the government or 3rd party demands that were reasonably likely to limit free expression or access to information apple responded noting that 288 apps were removed last year for legal or platform violation as they relate to pornography illegal content. and gambling and while free expression is essential to apple's

success it is obliged to comply with local laws to protect the safety a customers and employees now if approved by the investors this could have implications beyond china and also open the doors for tensions between apple and other jurisdictions where it operates like he did little air quotes when you say which apple absolutely was the silence government i mean but there are private business the other just be honest about it and say we care more about money than the customer and so if the chinese government tells us what to do we're going to do it if they would do that at least be honest about your says are really about free speech or is this just more more war between china and the u.s. because if it really cares so much about free speech then why did apple delist ease a weed app for weed maps a map that searches for legal dispensaries as well as packs which is just a bluetooth enabled heating we device why didn't this disable and kick all of those apps from that platform and what was the question if they care about freedom if

they can see each other all does it and i will cares about making money and they care about making governments happy because that's where they offend really is what it is about the about the war between china and us not really freedom of speech is done under the guise of a good point time work because when we return president trump thinks he can get a base one trade deal from india by the end of the year well that looks like right here wolf we'll break it down and as we go to break here the numbers at the club. it's.

all the alternative all. because i. was cold real choice binary choice and only choice is if you say. binary thing is not a chance for the states to school to provide a new architecture revive the cold ted and start negotiations with. israel have been invited to negotiate to see what's being put on the table. israel media a reflection of reality. in a world transformed. what will make you feel safe. isolation community. are you going the right way or are you being.

direct. what is true. is faith. in the world corrupted you need to descend. to join us in the depths. of the shallows. people who have money in pension accounts people on lying in state are actually digging into their pockets because our savings rate their pension accounts are now yielding close to 0 or negative they're taking money out of their pockets thanks to the central bankers and they're giving it to a billionaire so he can buy definitely that he can sell trinkets the more billionaires this is louis the 16th i'm only living off the labor of the peasant.

and welcome back coming off a very friendly visit to india president trump and india's prime minister modi are hopeful to move forward on phase one of the u.s. india trade deal now we can talk about this for a year because it follows a 2 day trip to india this week which include a massive nama state trump rally attended by more than $100000.00 people and so far we don't know much about what this deal might include but both sides have agreed to try to conclude talks they say promptly and to get a phase one deal done we also know that during his trip the us president announced an agreement for india to purchase up to $3000000000.00 worth of u.s. military helicopters president trump on tuesday criticized india for its high tariffs calling in the quote probably the highest tariff nation in the world including joining us now to discuss is the host of economic update richard wolffe here richard so now it seems like the purchase of military equipment i got to tell you is kind of trumps go to position to start trade negotiations on anything in

reality while the numbers are high $3000000000.00 in military equipment purchases the effect quite candidly is a pretty small portion not just of the u.s. economy but a small effect on u.s. workers as. absolutely the budgets of the military budget of the united states for one year is now in the neighborhood of $700750000000000.00 and that's only what they admit it's actually larger so a deal for 3000000000 maybe over the next 2 or 3 years is to be blunt irrelevant if this is window dressing it's theater and i'm afraid we've been down this theatrical road before mr trump has made big denunciations of china and then followed it up by deals and then on doing the deals and making more threats and then having it back and forth as you put it correctly for a year and a half or longer and then ending up with a namby pamby deal half of those details we don't know all and the other have don't

look like much as a phase one so they can really start fighting over phase 23 and 4 and 5 later now we're seeing the same game played with india the conflict between the united states and india like that between the united states and china has been going on now for over a year they can't reach agreement and that theater in india isn't going to change that in fact the real purpose of the theatre as best i can tell as an economist is not about economics directly it has to do with the fact that mr modi has on leashed an enormous repression against the muslim part of the population which is a much bigger part of the population of india than the one we hear about the much smaller muslim population that's having trouble with china so what he wanted was a theater in which the united states kind of looks like it's ok with that and

therefore there's a good for him to fill a stadium about that but it's got really nothing to do with trade and i think mr trump knows it and maybe his goal was also the theater of being in the center of attention. now president tom says he wants the u.s. to be treated fairly by india so what does that look like and what are the chances that tariffs on u.s. goods will be lowered. while here i'm 100 percent sure that that is purely theater mr trump it wants the american people to believe he's protecting us from being unfairly treated nowhere else in the world is that believed only here what the rest of the world believes right or wrong is that the united states wants a better deal that the united states economic system is having trouble which is true enough and wants to fix it or at least improve by getting better exchange relationships with china with latin america mexico canada all the countries trump

has yelled at and that's what they see it's an attempt by a big player the u.s. to muscle its way into a better deal they don't want to do it they are now stronger than they used to be so what we have is mr trump playing to his audience here i just want fairness and the rest of the world to get it its heels and say we're not giving you any more you became the richest country in the world based on a good piece of ripping us off and we're not going to let you do that anymore and you can call it fairness but it doesn't change that's why we don't reach agreements because they don't see it that way and the united states is no longer strong enough to force it so this trade they are going to say it feels at this point to be a little bit different from the china deal where and we have had a lot of discussions about whether that's even a real deal or not but this is where the president you know with china seem very agitated almost aggressive toward the chinese in this case it almost seems to be

kind of this bromance between trump and modi and they're working together to reach in their words a bigger better deal do you think that the prime minister modi is nk has to strike a deal as well 'd also for the appearance on his end because it felt like this trip was a lot of kind of patting each other on the. back in saying we both need each other for the p.r. and for the photo op right now oh. yes i think you make a good point i didn't mean to suggest that it's exactly the same it it's always different one country to another and you're right also to say look india has economic problems there used to be in the economics profession that i'm familiar with a conversation who is doing a better job of overcoming poverty china or india that discussion is over the chinese didn't simply won that one and it's not even close plus the indian government has been having more and more economic troubles and so they're worried about china as a major competitor just like the united states is and that also plays its role

could they help each other as being may be allies in some way to slow down the relentless said vance of the chinese so that's a different dynamic that we'll have between the united states and china but it is much secondary to the more urgent problems that are about trade and that the fact is that the indians have been pressed by the united states now for over a year and they haven't moved and it's very unlikely they're going to move now as specially when they gave the little symbolism of buying $3000000000.00 worth of helicopters that's all they're going to get and they now expect mr trump to give something which if he does won't make him look good in the united states so my guess is we'll have a phase one like with the chinese and then we'll forget it and it'll be basically back to square one host of economic update richard wolf thanks so much. q.

as traditional advertisement dive marketers i think out employment and product placement ah. opportunities to subtly influence consumer buying choices research shows that product placement and story lines are highly influential particularly when used to generate a positive impression of a brand or to change consumers' perceptions about a product that in the world of apple watches and that the rolex summer and are still coveted thanks to the memories of james bond and when you're picking out sunglasses the classic raven aviator somehow always looks good because it makes us feel like maverick from top gun shopping for heels check out those minnows worn by carrie bradshaw the fashion icon and sex in the city now apple is taking all this a little too seriously now and it stipulated that it's devices cannot be used by any villainous characters sounds like someone's trying a bit too hard to drop their reputation taylor swift so basically now you can watch

murder mystery movies and figure out who the murderer is simply by what device they're carrying and in reality the one villain carrying it around is kim cook exactly what you have that is that you don't really know and i'm just kidding and he's not going to be very happy about that because apparently his entire p.r. reputation didn't work it is it is fascinating and over time we have it but it's very fascinating when you look at the product placement specifically for apple in so many t.v. shows and it's only been amplified if you watch anything that's on apple plus you see nothing but commercials for apple devices all throughout their shows it's kind of insane and then the next movie is going to be the good guy carries the apple i phone and the bad guy obviously is going to carry. the white have black head. that's it for this time you can boom us on demand on the brand new portable t.v. app available on my phone through google play and the apple app store by searching hard look t.v. or stream. part of the app on apple t.v. and online are part of. our but he will be available on more devices very poor as

always all the good guys can check us out on you tube dot com boom bust our to see about your next. actually you know. there's

a nun she named not. can if you had a way that was more greek if the book was anonymous than any a girl will lay about all day i wait for the last 3 of a good large battle modern to be able to. name the man that having. given people. who give the newly married couple what the how do we are all our d. our soon alice our. jane need the whole corn go before. why do men not well known asia or so on out in. the fall. so what we've got to do is identify the threats that we have it's crazy confrontation let's be an arms race in this on off and spearing dramatic

development the only solution i'm going to resist i don't see it as threats and will be successful very critical time to sit down and talk. do. become a battleground in the us. people of demanding the shut down of a local plant from 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 participatory democracy is or powerline with the people this case demonstrates that struggle in the very real ways a struggle. cause

in northeastern france a case that belgian neighbors of illegally dumping rubbish across the border are responders holiday banking investigates being described as dumping i mean just fill scale and you can see why. the 1st time since the start of the outbreak the number of new cases of corona virus outside of china has exceeded the number in 5 the country we speak to a leading expert on how bread. and when your own body is going through some restructuring or do crease in the resistance to infections secondly when to there's a high concentration of people in houses buildings bones and other places and the high concentration of people is a condition for epidemics great.