a day what is a long term plan for manufacturing as china begins its road to recovery we're going to take a look at the nation's industrial base and what lies in store for supply chains around the globe we have a packed show for you today so let's go and dive right in. the corona virus continues to spread across the world as europe and the united states prepare to see a sharp increase in the number of cases italy continues to enforce its walk down of some 60000000 people with 1000 new confirmed cases the european union per president's met with prime minister is via video conference on tuesday afternoon to coordinate efforts to combat the virus this comes as chinese president xi jinping made a visit to one china this was his 1st time since the start of the outbreak china recorded its lowest numbers of infections they were just 19 and they were all in will haunt speaking to doctors behind a screen she thanked some of the medical workers. you are wearing protective

clothing so i can see your real faces. but in my heart you are the loveliest people in the world so what you should do now is to firm up confidence let's firm up our confidence together we will definitely win the battle. and we'll win and china will win. meanwhile iran struggling to contain the spread there have been more than 7100 acted and at least 237 people have died that number is believed to be much higher now unlike italy and china iran has not placed anyone under quarantine the u.s. is also working on how to combat the spread of the virus and vice president mike pence announced insurance companies have now agreed to cover co-pays per coronavirus testing. please you reported as you requested mr president the insurance companies here. for today. to waive all co-pays and

coronavirus testing. extend coverage for coronavirus. you know your benefit plan and your medicare and medicaid last week already made clear to medicare medicaid beneficiaries that coronavirus testing and treatment would be covered these private carriers extended as well currently the us reported 761 cases the death toll now at 27 but the number is expected to skyrocket as close to 1000000 testing kits will be administered across the u.s. by the end of this week. and a day after all had its worst day in nearly 30 years markets are on the rebound on tuesday the international oil benchmark break crude in the united states west texas intermediate jumped by at least 10 percent each at times throughout the day now the movement eased concerns of oil traders who saw it. 24 percent drop on monday

following news of a breakdown of talks between key opec player saudi arabia and russia on lookers were hoping for a deal to cut production in order to stabilize oil markets ravaged by the coronaviruses effect on travel russian energy minister alexander no back said the country has not ruled out further talks with opec and announced the ministry will meet with russian oil companies this week meanwhile equity markets in europe remained in the red although not seen as big declines as we witnessed on monday asian markets were up on tuesday and here in the u.s. markets started strong with the dow up nearly a 1000 points as president donald trump spoke about a possible stimulus for americans we are going to take care of it have been taking care of the american public and the american economy we are going to be asking tomorrow we're seeing the senate going to be meeting with house republicans which mcconnell everybody is discussing a possible payroll tax. cut for relief substantial really very substantial relief

that some think that's a big number and now just prior to broadcast we're hearing reports that the president pitched a 0 percent payroll tax rate to lawmakers in a meeting tuesday afternoon as the day went on the dow dropped a nearly even and maybe a little bit in the red at times before ending tuesday up more than 1000 points so for more on the turbulence in the market we're joined by todd bubba horwitz chief strategist with bubba trading of course we need some sensible takes here for me but today let's start with this market turmoil we're currently seeing around around the world but really here in the states as well tuesday started with the dow jumping a 1000 points only to briefly go negative like i said and then closing up on the day almost a 1000 points what is happening with the markets. at a consistency at all lately. and well i mean the bottom line is we're going down ok the bottom line is the markets are lower we're going lower. or and you get these

amazing rallies when people are trying to figure out where the bottom is and i think we've got a long way to go before you find that bottom but what happens is we in the trade the rip your face off rallies ok so you had the market sell off the bears got happy for a minute a little bit over short and the markets came screaming back this is all this will to soon fade when you see rallies like this this is a sign that the actual selling is not over yet and again i expect to see much lower prices showing up in the next few days and these rallies will subside and of course this is the it's the last stand that some of the bulls are trying to make to get in because they missed the entire move and of course typically that does show the top and that's what this kind of action usually produces is the top of the market which i think we've already seen. well there's always a reason there always reasons them place for this market movement that we've been seeing whether it's politics that intervention oil wars whatever it may be the coronavirus of today we saw markets move with the prospect of some fiscal stimulus

in the way of the payroll tax cuts now proposed by president trump but do you actually see this happening and what it create any confidence in the market. well let's be clear about one thing 1st of the markets react far before the news ever gets their markets are much more afraid of fission than the the new cycle because a by the time we hear the news it's already baked in the markets for the most part the stimulus package certainly would help the markets again but the bottom line is long is the fed continue to try to manipulate rates they're going to the markets are going to try to go higher but they're not they're seeing that there are some panic in the fed know when they made their market cut last tuesday that showed a sign of weakness by the fed not strength so what we're really seeing here is reaction and what investors need is a good excuse to do something so the coronavirus came and there was there 1st an excuse but the price action was in place long before investors finally started to

get involved so again i think this stimulus package could help it might believe the markets will well but the overall underlying economy as i've said for months now we're in the very early stages of recession and it's going to get worse before it gets better and that's why you're seeing a lot of this action that's why you're seeing russia and saudi arabia trying to put the u.s. oil companies out of business and we're going to get to russia and saudi arabian oil here in just a minute but i did what a follow up on that regarding the fed i know it's when your favorite organizations you come on the airwaves and you talk positively about it many times by of course i'm saying this in jest but but we're talking about another possible rate cut we might see it as soon as next week president trump is out there tweeting he's saying bring the rates to 0 and something he's. consistently studies even talk about negative rates now telling the move that far with the rate cuts i mean are we going to see this rate cut and you're saying it doesn't help anything anyway just makes things worse right. i agree i think big is terrible ok look i think president trump

is 100 percent right with his logic listen remember he's thinking as a businessman and as a businessman a rate cut helps everybody and well you know the bottom line is that you know we issue a treasury bond people are buying that money we're paying the interest rate so in the in the going environment we could lower rates to a quarter because people are going to flood their money into our treasury market because every else is negative but in real market terms it shows a weakness because again we're the leaders we should not be cutting which should show the strength we have especially with the underlying economy but we're not doing that this is this is again why the fed should be put out of business because they don't understand nor are they for moat the free market system the markets will tell you a rate should be all they're doing now is that the banks get over level drugs again they're creating the next big collapse which oby another 40 to 50 percent haircut there's a market when it starts to come to this to start could be i don't know but it will be create another major problem because they're allowing things to get over

leverage meantime all the the predatory or higher rate lenders are making a fortune because the banks are buying all their loans because they're paying these guys 3 or 4 basis points and the banks are to those loans which are not good loans to begin with so this whole things that eventually blow up in this much this manipulation of money is a farce well before we go i do want to move on to to the oil industry where it rebounded a little bit on tuesday after the worst day in nearly 30 years now some of that is on the back of the russian energy minister alexander novak saying that moscow is actually open to talks with opec at the end of this month before the deal expires after 30 arabia no longer. starting to produce more oil as they have said breakdown of what happened with the oil market in the last 48 hours for us. over the oil is in a bear market that's number one ok so the initial panic that came in on sunday night

ok was it was based on the fear of what might happen there but again what that what they're trying to really do if you think that they they don't really have a plan here this is more public b.s. as far as i'm concerned they're dying to put the fractures out of business if they get bush or oil low enough ok where these loans good call and all this funding that sadir to help these small fragger is continue to pump oil which way the united states the number one producer in the world that will create a problem and that's their plan there is no way to make a deal before and they're going to continue to try to keep the pressure on oil and push lower but the mean than the market itself once 60 has come straight down i mean we're down almost 40 percent from the overall highs and it looks like we go lower i'm sure we're going to test that 27 low again before we get any real kind of this is a natural dead cat bounce after a 12 hour 10 or 12 point drop in oil you're going to see a bounce i mean just like the stock market was in about say for how much we did know that it was going to bounce todd bubba horowitz fed cheerleader in chief

strategist above the trading thank you so much for joining us today. the coronavirus continue to have a major impact on the airline industry this is as major airlines are extending waivers for changes and now even cancellations without that hefty fee well airlines start down at year to date for multiple carriers include delta united and american airlines united and delta now they've both said that they plan to reduce life across their networks united airline holding c.e.o. oscar munoz and the president scott kirby said that they will not be taking any salary until at least june 30th a southwest c.e.o. gary kelly planned to take a 10 percent pay cut but. also also announced that it would place a hiring freeze across the company offering voluntary leave options it's not bookings for as much as 25 to 30 percent as they expect their situation to become much much worse but american said it plans to cut domestic

a pass me by 7.5 percent in april and international by 10 percent for the upcoming summer season now there's a rule right now across europe that requires airlines from outside the continent to fly 80 percent of their thought if not they lose them to their competitors out there are empty airplanes taking the skies but airlines are now expecting a bounce back to take months if not more as the corona virus continues to spread west i mean how ridiculous is this by the way when we're looking at a crisis that is happening or will prices are already down economies are faltering and we actually have empty planes flying across europe just to meet a requirement so that way they can hold their night while the u.k. and they're having conversations as to whether or not this will continue because of the situation how is it that how is this even possible they're holding you know they're flying ghost planes not only like you said the the fuel costs but the cost of these empty seats and the workers they're already cutting back and asking people

to voluntarily take leave and then even asking people are offering people discussions on early retirement i mean it is insane because we have no idea how long this crisis will last you know i mean as of right now we can just see it spreading throughout the world and it's anticipated that at some point we'll slow it will be able to move forward here 2020 but at this point we really don't and if it could come back or not again there remains a lot unclear unknown so absolute will keep on it time now for a quick break but here because when we return it's no secret that many of the world's supply lines run through china but how will things fare amid the recovery process we'll break it all down just on the other side of this provo as we go to break for you numbers at the close.

good food descriptions. even for the owners so how to choose his pet food industry is telling us what to feed our pets really more based on what they want to sell us than was necessarily good for the pet turns out may not be as healthy as people believe we have animals that have you know diabetes in arthritis they have auto immune disorders allergies we are actually creating these problems it's a huge epidemic of problems all of them i believe can be linked to a very simple problem of diet and some dog owners so heartbreaking stories about their pets less treats the larger corporations are not very interested in

proving or disproving the value of their food because they're already making it a $1000000000.00 on it and there's no reason to do that research. is your media a reflection of reality. in a world transformed. what will make you feel safe. high salacious community. are you going the right way or are you being. direct. what is true what is. in a world corrupted you need to descend. to join us in the depths. or in maybe in the shallowness.

of social and i as a nation from which social mean to us and investors. i say oh she's a mother for free you've got bored of the children food for. your mom happens. never to try to predict. the problems. it was because the global world 'd was going to have to close to this incident you always do odds most of us have the displeasure of us moving in this part of the family and you're fighting. over for some half. of the left just the fortunate enough for the 6 months because of the sound.

the impact of the coronavirus continues across several sectors as china is struggling to reopen factories across the country in just the last decade china has become the world's largest exporter and world bank data shows that in 20000 it accounted for one 3rd of global trade and the technology sector took a big hit since the start of the coronavirus apple for example expected to lose more than $400000000000.00 but as of this week all but 4 of apple stores in mainland china have reopened this was after a prolonged shutdown that was caused by the coronavirus i phone maker foxconn reopened its doors last month and it plans to open at full capacity by the end of march the auto industry another sector that's facing the possibility of supply disruption many factories near ruhani still remain closed honda's chinese manufacturing hub just in the southern city of gangs restarted partial production on february 17th but it's still running below capacity if plants don't go back to

full production soon vehicle assembly lines across the world risk a slowdown and at worst even shutting down so for more we bring in jeanne of the miami business school john quality film thank you so much for your time there's a lot to dive into starting with the global supply chain that's been disrupted we've already been warned several times time and time again since the start of this and as i mentioned china accounts for one 3rd of global exports for 20000 that is how long before we see china operating at full capacity and is there a timeline for this. i don't think as a firm timeline the timeline will vary by industry but i would expect it to be extremely unlikely that we will see a return to full capacity and full production before july of this year there are several reasons for that one is that all of the factories closed have to be recertified before they can be reopened secondly there's the concern that

too precipitous a return to work bringing many workers who've been stranded in different parts of the country back together in a factory could result in a 2nd wave of infections and if there's one thing the chinese don't want to do it's to be too aggressive in restoring the economic engine the expense of a public health risk which no one wants to take and then i think the 3rd factor is now the level of demond that would be evident in the export markets in the west because now we're facing a demond slowdown potentially in the western markets as a result of the consumer a lack of confidence all drop in confidence and that's going to affect the dumond as employed imposed on these factories so it in a curious way the slowdown in western countries is actually going to run in

parallel with the gradual ramp up of supply in china and now we've seen across several industries and companies have already seen disruptions in the supply chain as we just talked about the tech industry in the auto industry as just mentioned our big effect affected as trump would say i guess but what war importantly i want to know what are the effects that we're seeing that we're not seeing as of today that we can see in the future. well 1st of all you're absolutely right too. and on the auto and attack area there's definitely a shortage in terms of availability of electronics pots and particularly c.p. use this is definitely a problem and the absence of air freight availability mains that it's actually quite problematic for even though these items are high value low bulk

items and therefore could be shipped by air on an emergency basis that the air freight is simply not available to do that so that's point 1.2 to take a different industry we've all 'd read i think about the number of container ships that are essential a setting idle in the pacific or alcide of chinese ports on able to unload their cargoes or if their car goes can be unloaded the the warehouse capacity of the ports is jammed and there aren't truck is available in many cases to move the good sort of coming into china to their destination points because the factories are still shot so what that means is that you have all of these containers and cargo vessels tied up off the chinese coast that has created a shortage of refrigerated cargo capacity on the west coast of the united states so

you have a lot of california pharmacists time of year sending fresh fruit fresh oranges to china the not able to do that because the cargo capacity is simply not available to load those goods onto vessels to china so those goods those perishable items could end up in the us supermarket lowering drastically the price of. fresh oranges for example well i want to move on a little bit we talked about it earlier on the show about the early history and can't we being impacted by this coronavirus how long do you predict these airlines will it will take for them to go back to doing business as usual and will we see increased prices and flights in the near future. well i think it's very problematic as to when the travel industry will recover and that's going to depend

on when we see an evident peak in the number of confirmed cases in the u.s. with then a declining number of cases confirmed on a day by day basis until that peak is clearly reached we won't have visibility into how soon travel will be able to be resumed as normal i do saying that. the airlines you know clearly very very problematic for them they are making a lot of changes in terms of customer service waiving cancellation fees et cetera you know that's not something we've seen to repeatedly before and again their thing is not a safety issue even if they're lowering prices right now it's more are i rather thought economic problem if the fate of the issue as most people are concerned john called steen of the miami business school thank you so much for your your expertise

. thank you. and tesla is planning to ramp up production of car parts at its $2000000000.00 factory in shanghai according to reports from reuters citing documents submitted to the shanghai government as of december roughly 70 percent of parts for tesla vehicles made at the china play it were imported from outside of the country no tesla is planning to add lines at the shanghai facility to make more battery packs electric motors and motor controllers according to those documents the battery cells will still be a source for about side of china with packs being manufactured. on site at that new factory tesla has that in the past they hope to localize their entire supply chain inside of china by the end of 2020 s the stock is up roughly 4 percent on the day after ups and downs monday where the stock opened nearly $100.00 points down. u.s. regulators are clearing the way for a german semiconductor maker in finance to complete a $10000000000.00 takeover of america's cyprus semiconductor last week the

committee on foreign investment in the us a subsidiary of the treasury department they advised president trump to block the deal saying that it poses a risk to u.s. national security but cyprus said tuesday they were informed by the committee that there are no unresolved national security concerns with the merger now the deal will still need to clear several other regulatory hurdles including approval from china state administration for market regulation with the deal and sony and hopes to become one of the world's top 10 semiconductor makers on the news and finance stock traded on the german dax and it's roughly up 4 percent while cyprus saw gains eclipsing 45 percent on tuesday. and finally in an increasingly connected world customer reviews can help prop up

local businesses in some cases even think them but yelp there are of us and website which boasts roughly 178000000 unique visitors is trying to take on fraudsters who are gaming the system on tuesday yelp released its 1st consumer alerts report which lays out situations where the company's team found fraudulent reviews or activity the actions against fraud can range from putting alerts on a customer's reviews or of businesses page all the way to an outright closure of a user account so far hundreds of alerts were put on different business pages after receiving positive views coming from the same ip address that means generally the same person or some sort of system there 300 businesses even received alerts because the owner was accused of purchasing or encouraging these reviews now the op has gone as far as closing 550 user accounts so far this year in relation to a ring creating fraudulent reviews now i don't know about you sara but i am a person a yelp user just sorry about this earlier and i add who still uses yelp i actually

rely a lot on google a travel advisory like you said it when you're overseas but the things you up as 178000000 user reviews but this reminds you of that episode of south park where basically the yelp reviewers became like celebrities in town and everybody had to cater to them like they were some sort of big time restaurant critics so it becomes an issue and we've seen this time and time again and they also said that they address the situation in regards to sometimes politics plays into this you know if a company is has a political opinion and they move it that way so it can be a huge of an eye out for those fake reviews hopefully i will keep an eye out as well let's set the time that you can catch boom bust on demand on the brand new part of the t.v. available on the plane and the apple app store. part of all t.v. or 3 must buy your t.v. by downloading the part will t.v. up on apple t.v. and online a part of all the t.v. you can also find a coronavirus tracker on the per portable t.v. app where you can get the latest news and information up rob the spread of the

virus and as always check out on you tube dot com slash boom bust r.t. say next time. the knot winds up. on the flu shots not someone might have seen the definition. i'm by any. one seeking i need. to take in the equal city. to give them an onion to bring. out how we think i'm. right now i think. how do you know we're not the. saudis out.

in this just feeling if one means a leftist i mean that the deep better learn to focus them tokyo found it is going to happen. how. does it work with because did it because it didn't seem quite a cultural reason for the trends. in the united states presidential candidates debate the future of the us and the world. max kaiser and stacy her but dig into the burning questions of this election cycle one self big every week. tax student debt trade was money universal basic income and more catch up with what's front running this sunday exclusively on our.

in the latest of what appear to be politically motivated attacks in germany to have a prominent right wing politician. whenever the car set on fire or. the the apartment or. attacked you can be sure this is an attack against a state with the corona virus spreading across the globe british scientists who in fact volunteers for money in a bid to develop a vaccine we ask londoners whether they would step forward. oh why not if i get infected twice to get twice as much if i was younger. but i'm going to be so george you once said going to say why would you.