parents i have nothing against greg but i just do not accept a exception rejean is she more. who a reduced there any other person who has been very from 'd the fall into in the parliament well i suppose not there are many credible scientists there will be here speaking about climate science so why greg. just because he is she is more rational hall just because some people still think that it's a little of just because she has more rests with her level talk about climate change i prefer to listen to the scientists because they a lot of what they say when i listen to neglect a little bit i listen and see if you know if you're running around the world with her political agenda obviously but saying generally please becky is necessary to

save the planet obviously we all say it is necessary to save the planet but you don't see the idea about what we must. look to really change something or about its impact because you are talking about people that must believe what talk about jobs can come up in court news we're talking about reasonable in doing so i prefer the scientists i'll be back in just under 20 minutes with another look at your news stay with us is art international.

the corona virus is a global health danger that is yet to be contained this virus is also raise questions about the integrity of supply chains open borders and the weaknesses of globalization and dangerously this virus is being used as a political weapon. and markets rally back in

a very big way almost 1200 points to the bill but one business show you can't afford to miss i've been sworn in and i'm christiane washington coming up next a lot of importantly my tending than the flu but where are those numbers coming from and are they accurate plus china is getting supply chain fact on line will tell you one thing done to get workers back into the factory and facebook may not be launching just libra cryptocurrency after all so what's changed we're going to break it down so much to get to one that's very busy day so let's get started and we begin with the latest on the crew. in a virus as the world health organization says that the virus does have a higher death rate than the flu but it's more difficult to transmit. while many people globally build immunity to seasonal flu strains 19 is a new virus to which no one has immunity. that means motive people out of susceptible to infection and. c.v.s.

disease globally about 3.4 percent of reported 19 cases have died. by companies in seasonal flu gen than any cues to fewer than one percent of those infected. so the mortality rate for covert 19 the disease caused by the corona virus is 3.4 percent and that number is making headlines but what most media is not going to tell you is that that number is also pretty crude and poorly calculated number one it's based primarily on the outbreak in china where the majority of the cases have been detected specifically and move on which has a higher death rate than anywhere else in the case of those cases were early and many of the victims did not get immediate medical care they didn't know what they had right now there are over 94000 cases of corona virus in at least 70 countries in all over 3200 deaths have been reported around the world that includes at least

9 people in the united states but it's also very important to point out that of the 94000 cases over 51000 people have already recovered secondly the number does not include get this mild cases they just left them out completely but do not require medical attention that completely skews the numbers so what is happening with the virus around the world well japan's olympics minister says it's a possibility that the 2020 summer games in tokyo could be delayed italy which has become ground 0 for the virus and europe is set to ban public events and close all schools and universities nationwide in a bid to stop the virus. no decision on the schools has been taken and there is no closure at the moment we have passed to the scientific technical committee and evaluation and advice on whether we should open or close the schools that is proportional to the epidemiological scenario of the country at the moment is the death toll in italy is 79 iran which has seen

a large number of cases says that offers from the us government to help with the virus response well they call it a lie iranian president hassan rouhani says that if the u.s. wants to help it can lift sanctions on medicine. sure i get it if the united states is really telling the truth at least lift the sanctions on medicine this is the 1st step to if you are being honest say we have done the wrong thing about the iranian nation so far and we apologize and our 1st step is to allow banking activities to buy medicine medicine shipping free transportation and food transportation for the people and we have no problem with that but we will argue correspondent traveled from hong kong to moscow and recorded the process including having temperature readings from crews in a hazmat gear on the planes medics at the airport near the baggage claim also collected information from every passenger including where they had been and who they have been with all of that huge effort to prevent the coronavirus from getting

a foothold in russia. mainland china as new delhi cases continue to drop and as a result manufacturing productivity is climbing back up to normalcy over 90 percent of china's state owned enterprises have resumed production after fears over the economic impact escalated with the release of february data that was much weaker than expected over $6000000.00 migrant workers which is approximately a 3rd of the overall migrant worker population have returned to work in the province most workers have been unable to work previously due to travel restrictions and the lack of available public transportation now the easing restrictions as well as financial incentives and transport support offered by the local government has quickly boosted the resumption of work in the province efforts have largely been focused on the larger companies with smaller firms continue to struggle to source labor only about 30 percent of the me is how resume work and the government is attempting to ease as a means burdened by lowering interest rates deferring social insurance fees and cutting energy costs foxconn the apple i phone maker is also restarting production

of its main plant in china but even as the situation in china seems to be improving japan and korea are getting worse major south korean expertise including hyundai l.g. and samsung have partially shut down their production lines japan and. are also key role players in china's manufacturing economy so analysts are worried that the firms will not be able to supply components to china for assemblers like foxconn even as it restarts production now this is the unfortunate case for many manufacturers as key pockets of selective high chalk still remain in this hyper connected world this will make the output gap even more difficult to measure than usual. for the markets continue to be bipolar with flashing between being down a 1000 to up a 1000 points then plunging nearly 3 percent tuesday to roaring back today burning the shorts it looks like the fed put did take hold and yesterday's plunge was a buy the rumor sell the news effect while some attribute the rally to the buy in effect let's take a look at what's really moving markets to do that let's bring in peter schiff

c.e.o. of euro pacific capital and john hyman editor of the logical investor so peter let's begin with you markets rallied back when they after the fed's half a percentage point seemed to spark off a massive sell off but when that was totally a different story as we are up more than a 1000 points today so what brought the markets back up. well of course number one it is the fed this market has always been about the said that's the only thing propping it up but i think today's rally also has a do with a bit of a relief rally over the prospects of having bernie sanders as a democratic nominee and even though people gave him a very small chance of any chance at all of actually winning the fact that he could win because anything could happen if he was on the ballot it would be so disastrous for the economy in the stock market that i think the markets at least maybe started to price in some small probability of a sanders victory and i think today that's been priced out i think his path of the

white house is pretty much shut down the establishment has coalesced around biden everybody is dropping out of the door seeing him and you have more and staying in just to make sure that sanders can't get the nomination so i think they've stopped him but what the markets don't realize. is joe biden is not a moderate he is a very liberal guy he only looks moderate next to sanders and he probably had a better chance or has a better chance of winning than sanders did and so abided administration is not going to be good for the stock market either and since that's more likely the stock market should probably be selling off because trump now has a better chance of losing so sean after that sanders big win in nevada we did see the market starting to drop the day after super tuesday as peter points out you know joe biden becomes the front runner once again which who saw that coming 72 hours ago markets are on the way back up i know it's very difficult to connect markets and politics and who knows if there is any actual correlation as we know as they say correlation does not equal causation but there is some level of calm in

the markets at least for certain sectors for instance today we saw health care sectors go a new way up is that a result of saying hey we won't get medicare for all 'd if bernie sanders is not either the front runner or let alone the democratic nominee or president. yeah definitely. sanders is the worst case scenario for the markets biden is not much better trump is your best case scenario for the markets and certainly it would be a nightmare for health care stocks if you had sanders in as well so i can definitely see them rallying off that and even some other companies like science is right now trying to help solve the problems with coronavirus as well. now peter supply of hands have also been a really big part of this global manufacturing concern but now we see local governments in china doing everything that they can to bring the workers back including trying trains and planes and buses so as well as our office offering financial incentives and all of that so has china that's just in case the virus

concerns or is that another going to be a 2nd wave hit. well i don't know i mean i there on the ground in china and i'm certainly not a doctor but you know as an economist i think the central banks certainly have jumped the shark you know i think very making a mistake i don't think they have the correct remedy for this disease i think the fed in particular made a mistake with yesterday's rate cut i think they're going to make more mistakes i think we're going to be bringing rates to 0 and i think even governments to the extent that they feel the need to artificially stimulate the economy you know sometimes things go wrong sometimes you have problems and when the government thinks they have to come in you know doctors take a hippocratic oath to do no harm it's unfortunate that governments and central banks don't take the same holds because they feel they have to do something but generally what they do actually makes a situation that they're supposedly trying to fix makes it even worse and show i also think it's worth noting that one of the few sectors kind of struggling to

rally are the airlines they're pushing to get their numbers back up apparently with a series of changes including they say they're going to waive change fees or they're going to waive cancellation fees which candidly i think they should do all the time let alone when corona virus comes around but either way airlines are facing losses so what more can they do there was a meeting on wednesday with mike pence and the heads of several different airlines to talk about what they could do i guess a lot of it comes down to keeping the planes clean. it does in pinson trump different trying to do what they can to you know squash the fears and things that sort and and as they should but there's nothing is going to bring confidence back just yet until they really do have some solution to coronavirus get that started heading in the right direction in before that happens you're not going to see a lot of people you know boarding planes and getting in tight spaces with people from all over the world is strangers that they don't know they just don't have any incentive to do that and businesses are telling people what's going to assume call or a skype call and said are you going over there and seeing somebody face to face because

they don't want to portion of their of their employee base dying or getting sick as well and john let's talk about oil real quick according to the reports coming from opec plus meetings in vienna russia said that they will not accept an additional cut in the project to $1200000.00 barrels per day so when the oil trader engage in a crowd of buyers where does this do to the overall landscape of the well market. so they duty to do further cut because you've got the man coming down a you've got to bring supply more in line with that if you don't get some more of a balance then you see oil go go lower and so they really need to come in and do something now they always do this grappling back and forth you know the day or 2 before they actually make their final decision so what's happened today doesn't mean it'll be the answer of what they really come out with tomorrow but if russia does dig their heels in and says no we're not doing it for other cuts that could be potentially bad for oil in the near term you know it won't stay there forever oil almost never stays twenty's thirty's or whatever forever it does back balance in the forty's fifty's but it could be there for a little bit yeah absolutely so peter let's talk about this coronavirus response so

it seems like the market everybody's been you know hyping the fact that oh it's coronavirus and that's what everyone's so concerned about coronavirus in the us has not lessened it's not going to lessen the lead for the next few months we're probably going to see it continue to rise and yet what we saw monday and what we see today none of it has seems to have anything to do with coronavirus at all so just quickly here what do you think is going to be the outlook for the next couple of months suddenly coronavirus that was such a big deal for the market going to suddenly magically not be that big of a deal anymore. member of the us market was extreme stanley overvalued before anybody ever heard the word coronavirus or so the market needs to come down and so it was going to come down anyway and so coronavirus may be the excuse but the market's going to go down and you know everybody is trying to figure out what the government can do you know to stimulate the economy i'm hearing about we need to get cash in people's pockets look the government doesn't have any cash all it can

do is take cash from one person's pocket and put it in somebody else's pocket that doesn't stimulate the economy it distorts the economy and of course a lot of times the central banks just create money to stuff it everybody's pocket but then all that does is destroy the perched in power of the money that people already have in their pockets so the government can't do anything the only thing they really could do is. the f.d.a. could lighten the requirements to make it easier for pharmaceutical companies to develop cures to test cures instead of you know you hear the president's task force these doctors are talking about how it's going to be a year and a half before they could take a vaccine through all the bureaucratic red tape in washington how about getting rid of some of that red tape how about making it easier for companies to actually offer some of these products that's one thing the government could do but unfortunately it's not doing now and i think we always want to make things easier we still need make sure the vaccines are still safe to administer shawn hyman and peter schiff thank you both for your time. thank you. time now for

a quick break but hang here because when we return activists investors are trying to oust twitter's c.e.o. jack dorsey but why while talk about facebook may not be launching is really about currencies after all so what changed well break it down and i think got to break here the numbers at the. join me every thursday on the alex simon sure and i'll be speaking to guest of the world of politics sports business i'm show business i'll see you then.

it will be all. about. the. yes will this is how the. why do we go to war because we view the key to economic growth as oil

and energy we go to war is vice president cheney said for the oil that's why they invaded iraq for the oil that's why trump says the one thing we want syria we really don't want to go to war with russia we want to just control the oil. and the gas line and the pipeline through afghanistan so the military is really an extension of controlling a world of energy and oil. on tuesday reported that elliott management was coming from us i actually saw a soft bank and now it seems like the most feared investor has got his sights set on jack dorsey c.e.o. of twitter now jack dorsey founded twitter and was the 1st c.e.o. he was then booted out for spending too much time doing yoga and attending fashion

design classes but then in 2015 he returned to lead twitter once again as no one understood the vision of the company as well as he did however under his leadership twitter stock price is down 6.2 percent meanwhile its biggest comp a spoke is up 121 percent in the same time period elliott management who has a 4 percent stake in twitter is obviously not happy. the stock performance and has now put in 4 nominees to the company's board with the goal of replacing dorsey elliott claims that dorsey only devotes part of his attention to twitter as he also runs payment company square in which he has a larger financial interest twitter has also failed to innovate in recent years with the user base churning and burning eliot management led by paul singer is known as the doomsday investor for reason past presidents would indicate that dorsey has a very small chance of surviving this attack as i see all of and held who was once ousted by singer put that quote when he began to research elliot online the experience was like googling the thing on your arm that says you're going to die.

so i mean what do you think ultimately number one do you think. that. this will go ahead and oust him and if they do is it a good thing or a bad thing i think he has very little chance of survival past presidents indicates that when singer wants you gone you are pretty much gone as it is and this is pretty much the thing it's like is it a good thing or a bad thing that there are activists investors it depends on what side you're on because as a company owner myself i would hate it if an active pastor came in and said we want to replace the management board but on the other hand i do understand that as a shareholder you do want your stock to appreciate every every day common joe if you're out on twitter own or you would actually be frustrated if your share price kept on going down all because the head of the company the c.e.o. fails to give his full undivided attention to running the company i mean that's always what i said about you on must can like his run his running of tesla right now i do understand the activity festers do are there for a reason they're there to reboot and restart

a company who needs who needs better what they have they need to be refreshing for sure i mean when you look at twitter if you compare it as he said to his biggest companies facebook right facebook has innovated an awful lot during that time and then you have these startups like to talk that come along and they continue to innovate whereas it is an absolutely true statement that the last innovation that came out of twitter was vine whatever happened with that vine videos don't even exist anymore so there is clearly a lack of development that in but i think the other problem that dorsey has is that he has acted as an activist c.e.o. as well as being your top of the activist investor how about the c.e.o. who goes beyond the company and wants to kind of control we see the text boxes and control public dialogue control public speech and so i think when you set yourself as that kind of a character it's very easy to be demonized by the board by shareholders who look at you and say well maybe you don't represent my point of view therefore getting rid of you almost becomes something personal beyond business yes so is that

a good they are bad in that he's created himself as the care. as almost like a company role model figurehead of twitter so kind of entrenches him self so that makes him like twitter actually makes them more difficult to remove so while it does make him a bigger target for activists investors i think it does intervention into the company culture a lot more you see all the company employees rallying around him as well as with the hashtag support jack dorsey coming out well but at the same time i mean the only way you're really going to protect yourself is you do what mark zuckerberg has done right you control so many shares no one can really do anything other than you anyway sorry you had to do a share class which snap chat and suck up or both did snap while they're in a worse financial position because they had the door share class even if an activist investor wanted to replace spiegel he can't bear there is no legal repercussions for them so it's really is a good or bad thing it really is speaking of good or bad things how about the labor association remember this thing it fell apart as part of facebook's attempt to launch its own digital currency that currency libra turns out may not exist at all ever in the future i've been telling you this according to

a new report facebook no longer intends to make the libor token which was intended to be facebook's own crypto currency even though it's not a crypto currency instead libor will reportedly transition into supporting both existing government backed currencies like the us dollar and the euro told you that was going to happen and then eventually if and when the libor token is complete the labor association will reportedly support that. meanwhile the so-called coley wallet this is so confusing so leave us the token club libor it was the wallet that was supposed to hold the libor token that's been delayed that while that was supposed to allow anyone with a smart phone to acquire and store crypto currency and then pay for goods with it as for the labor association of which facebook was a part it included $27.00 other companies including names like master card and pay pal stripe and visa i believe part of it as well but nearly all of those payment processors like master card and pay pal and visa backed out of the project last

year it's been like watching someone. down the hill they just keep tumbling over themselves and crashing as they go now consider this. project and we've talked about this a lot it's something that i kept saying this is never going to happen the points never going to take place because mark zuckerberg kept changing the definition of what it was a city came under scrutiny from regulators as soon as he came under scrutiny from congress who said hey are you trying to be a bank or you're trying to take on the role of a bank because there's a whole lot of regulation that goes with that kind of backed off and kept rewriting the description of what this thing libor was and now we're to the point where it's just a wallet that would hold it think that u.s. dollars as an animator when you come under that much scrutiny and what are you supposed to say in order to get what you truly want to accomplish i mean he has he kept on china definition because he was actually trying to talk around the direct questions that they were asking they were trying to impeach him from creating this labor wall and this leave a coin so he had to talk around and he had to change the definition around it so i

think it's a great shame that even the view by which really isn't a cryptocurrency i still think it's a great shame because i think it would have brought frictionless payments to the facebook marketplace and what a payments to a lot of people who don't currently have it yet i do think it's a shame that this innovation never will i think with a shame agree with you but i push back by saying i think the shame is also the project itself i think that mark zuckerberg in his position of power and authority and influence has the ability he could have gotten behind crypto in the past he could have supported this idea of banking the unbanked which is the real vision of crypto he did not do that in fact facebook banned cryptocurrency is it banned by c.e.o.'s it pretended that these things were all harmful meanwhile facebook was secretly working to create its own crypto currency so it was like get rid of the competition we're going to create our own because he wanted he saw the value in it as long as it was value for him i think there's a bigger vision if you say let's create value for people around the world and then out of that value maybe there's value for us as

a company which there usually is he didn't do it that way he did the opposite. that way which was i'm going to create value for myself and then i'm going to project that value on to everybody else that even though he did that with the intention of enriching facebook and his own company and all the cryptocurrency all the cryptochrome real cryptocurrency quite they actually all rallied as soon as the libor project was announced that actually really ironic that a non crypto currency was able to boost the actual crypto currency market by market cap of over 10000000 and i think ultimately had libor become a reality it would have been good for crypto because it would have introduced you know hundreds of millions of people billions of people really to the reality of what it is to interchange with crypto currency and digital currencies but alas it didn't happen it looks like it won't happen. finally a project that's been 21 years searching the universe for signs of alien life is

now being shut down that project called the search for extraterrestrial intelligence was a crowd source project that asked for members of the public to donate i don't computing time to their efforts the venture called city at home scrubbed the background noise of the universe to look for alien life well now after 21 years u.c. berkeley as announce of the project will stop on march 31st in a statement project leaders say that the reason for any of the project is that they are a quote from the point of diminishing returns saying we need to focus on completing the back and analysis of the results we already have and then publish in a scientific journal paper. well this is interesting coming at a time where you have to classify just came out and now we have reports of navy pilots navy pilots and official pentagon investigations that there are apparently some sort of u.f.o.'s out there they don't want to say it's actually life but they do want to say that there are unexplained aircraft flying about in our air space yet what i can explain who are in there is no question that they exist there's no

question that there's been an increase of them. in the last few years probably a lot of that has to do with technology being able to see the pilots who have witnessed it chase these other than the 5 flying crafts there's a whole book written about it the talks about the fact that there is a proliferation of these things showing up around nuclear sites so it's interesting stuff and it's a lot more interesting than scrubbing background noise to listen to the universe and it's interesting how many people's careers got ruined when they came out with these studies too early that's true that's 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. you can also stream your t.v. by downloading the portable t.v. app on apple t.v. and online. and you can also find a coronavirus attack on the parliament t.v. at the latest news and information about the spread of the virus and as always check us out on you tube dot com 5 must see you next time.

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