the markets rally back in a very big way almost 1200 points for the bill but one business show you can't afford to miss i've been to one and i'm christiane washington coming up next a lot of our quarterly my pending then the flu but where are those numbers coming from and are they accurate. china is getting supply chain fact on line well 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 this very busy day so let's get started and we

begin with the latest on the corona virus as the world health organization says that the virus does have a higher death rate than the flu but is more difficult to transmit. while many people globally build immunity to seasonal flu strains ninety's a new virus to which no one. and that means more people out of susceptible to infection and. c.v.s. diseases globally about 3.4 percent of reported 19 cases have died. by computers and seasonal flu. that any queues trying to fewer than one percent of those infected. the 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 epidemy logical scenario of the country at the moment is the death toll in italy is 79 iran which has seen a large number of cases 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 live sanctions on medicine. show 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 or we will argue correspondent traveled from hong kong to moscow and recorded the process including having temperature readings from crews in has made 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 it a 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 governments. has quickly boosted the resumption of work in the province efforts have largely been focused on the larger companies with smaller firms continuing to new struggle to source labor only about 30 percent of as a means to 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 exports including one diet l.g. and samsung have partially shut down their production lines japan and korea 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 them 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 biden 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 marcus rallied back one day after the fed's half a percentage point seem to spark off a massive sell off but wednesday 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 to do with a bit of

a relief rally over the prospects of having bernie sanders as a democratic nominee him even though people gave him a. a very small chance if 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 and 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 endorsing him and you have warren staying in just to make sure ted 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 shawn 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 with. 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 try. to help solve the problems with coronaviruses will. now pay to supply chains 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 they're 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 and 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 production of the $1200000.00 barrels per day so when the oil trader engage in a crowd of buyers where does that do to the overall landscape of the well market. so they duty to do a 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 on 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 is 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 right so the market needs to come down and 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 that and i think we always want to make things easier we study make sure the vaccines are still safe to administer john hyman and peter schiff thank you both for your time. thank you. time now for a quick break but hey here because when we return activist investors are trying to oust twitter's c.e.o. jack dorsey but why while talk about it may not be launching it. after all so what changed breaking down and i think got to break here the numbers at the close.

these policymakers have grown accustomed to the idea that every single problem can be solved with money printing why can't we solve the coronavirus of money printing the market now is starting to scratch his head a little bit and saying wait a minute that's insane so therefore valuations look like they're going to be marked already in correction territory on these markets down 10 percent are we going to have to bear market valuations down 20 percent probably i think the likelihood is extremely high 50 to 60 percent drop that's probably a 10 to 20 percent probability. i. do think

he could not. get to go home until. all of the trick are young. people. and. the pretty one he would love. to find out. it's something that motivates me to see. some of the to get a. job. or the other to be. these are these are reserve board rooms. for the secretary.

on tuesday reported that elliot management was coming for muscle yoshi's on 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's stock price is down 6.2 percent meanwhile its biggest comp base book is up 121 percent in the same time period elliott management who has a 4 percent stake in twitter is obviously not happy with 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 turning and burning elliott 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 x e o of health who was once ousted by singer puts it 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 what do you think ultimately number one do you think. the. members 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 activist 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 would 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 can. so is that a good they are bad in that he's proud of himself as the character is almost like a company role model figurehead of twitter so kind of entrenches him self so that makes him like twitter actually makes him more difficult to remove so it does make him a bigger target for activists investors i think it does intervention into a 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. last year it's been like watching someone roll down a 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 liberal coins are 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 libor 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 though of the about which really isn't a crypto currency 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 the 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 i ceo'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 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 crap to come real cryptocurrency point they actually all rallied as soon as the libor project was announced that actually really ironic that a nonprofit 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 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 less than about i can explain who are and there's no question that they. 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 dignified 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 you know it's interesting how many people's careers got ruined when they came out with these studies too early that's true that's over this time you got boom bust on the man 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 us to your t.v. by downloading the portable t.v. app on apple t.v. and online exportable dot and you can also find our coronavirus tracker on the part of the t.v. app where you get the latest news and information about the spread of the virus and as always check it out on you tube dot com 50 must say next time. thousands of american men and women choose to serve in the country's military and the decision. every song came to a complete. the day that i was right. you know told to show what they'd kill me and i see how it destroyed my life any scream didn't even come in the graham my own arm and he write me. if you take into account that women don't report because of the extreme retaliation and it's probably somewhere near about half

a 1000000 women have now been sexually assaulted in the us military rape is a very very traumatizing have happened but i've never seen trauma like i've seen from women who are veterans who suffered military sexual trauma reporting rape is more likely to get the victim punished than the offender and almost 10 year career which i was very invested in and i gave a sex offender who was not even put to justice or put on the list. this is simply an issue of violence male sexual predators for the large part of whoever is there to prey upon whether that's men or women. who are feeding our hopes our dreams and desires our money to compete discreet what do we get back to your liking that's that's a bad deal. jumping out of this week when it's that boy is he helping me to keep me healthy for or to keep me you know you connected and i missed it so we will live in an area the post screen area where we will live with all the screens and it will be

more in harmony or will help us move. yet so will this is how the group. think.

and. the escalation in syria will be the focus of talks in moscow between the russian and turkish leaders this thursday. it's seeing. role in parliament. also ahead on the program turkey claims greek forces opened fire on refugees border and leading to the death of greece wrongly the allegations increasing of. migrants to try. and a new front runner in the u.s. democrats race to take on.