u.s. markets suffers its worst selloff in more than 3 decades and it fears over coronavirus with president trump warning of a possible recession. france declares war on covert 19 with the e.u. taking its efforts to contain the pandemic to a new level as an increasing number of member states temporarily close their borders. the borders of the entrance of the european union. will be closed we are forced to stuff like connections to these countries and establish controls at the swiss border without a valid reason travelling in and out of the country will no longer be allowed. out of it tightened scrutiny of u.s. tech giants by european regulators i phone maker apple is

a little over 1000000000 euros by anti-competitive practices. by their thanks for joining us this is. u.s. president donald trump has said the american economy may be heading into a recession the coronavirus pandemics causing turmoil in financial markets will wide despite drastic action from central banks to limit the damage. is the u.s. economy heading into a recession well it maybe would not think in terms of recession would think in terms of the virus once we stop i think there's a tremendous pent up demand both in terms of the stock market in terms of the economy and it once this goes away once it goes through and we're done with it i think you're going to see a tremendous tremendous surge. a monday the u.s.

stock market suffered its worst trading day since 1970 prices tumbled by 13 percent amid fears over coronavirus with more on the current global economic situation is all right get the. unless you majored in finance everything that's happening may seem a little overwhelming what is going on why are markets melting down while the bankers whirling around like headless chickens and a few minutes with this monopoly set i'll explain why everything seems to be crashing and burning what the hell is a fiscal stimulus and why is everyone crazy about rate cuts 1st that said the pieces here are investors meaning millionaires you're middle class with maga savings your pension is here all of them have some money saved up these days you don't keep your money under your mattress you want to return it right interest a pretty good pension so you take this money and you put it in the banks depending

how smart they are how greedy they are they promise you x. amount of profit per month the banks then go ahead and loan out this money to whoever needs it they drive our entire economy the new hotel built in your city the new jet purchased by british airways the new hips the bar bill down the road from you your mortgage to buy your house comes from the bank so all this money goes into the economy to keep things running and here is how it runs every month these people make payments to the bank here every month the same payment goes back to the bank the bank then pays the investors the investors then put the money back into the bank this is obviously simplifying things but you get the gist of it it's a cycle it all works great while it works but then something unforeseen happens

like a mortgage crisis or a pandemic virus clubs and pubs are to be closed along with theatres museums do sports centers and similar establishments and retailers with specific suctions. now is the time to take extra steps we are ordering the suspension of all retail activities with the exception of groceries pharmacies and other outlets selling force of goods. suddenly mass shut down quarantine factories businesses come to a standstill people lose jobs stop paying mortgages suddenly people aren't paying the banks back and the investors the markets your pension manager they start panicking that is their money stuck potentially lost they see the news pandemic they call the bank they say they want their money but pull my money out of the markets out of the dow jones out of b.p.

out of up all the markets crash but the banks don't have it here is where the government step in before this mass panic and a run on the banks the government say the magic word bailout fiscal relief lots of words but it's the same thing the government pulls money out of thin air the money presses and gives it to the banks so that they can keep paying investors it's all pretend play they just simulating that everything's fine by printing ridiculous amounts of money and passing it back and forth between each other the real economy the factories in the businesses these guys are in quarantine and shut down but the entire point of this little show is temporary live this illusion has to work for a little while weeks months to allow the economy to recover to prevent the banks from going bankrupt and recalling all this debt to help these guys get back on

their feet and start paying their debts back you don't need to be a new to the economist or an economist to realize how how fickle how fragile this illusion is the collapse of the markets today down 10 percent roughly here a year now. it states in new york city where i'm sitting is a clear very profound statement that the entire investment community which is not the small people who have a few shares i'm talking about the people who manage ancient ones who manage bank work for yours and so on have a massive loss of confidence in the government of the united states or in the private economy to get out of this disaster we're running on borrowed time they can't keep printing money for too long or inflation goes through the roof money becomes worthless the illusion will eventually wear off even the most optimistic investors can only live in denial for so long and will realize that banks are

living in a dream world then it all collapses see the world up until now has been weighing lives vs the economy for all the criticism and ridicule of the world through a child that they shut down everything sacrificed their own economy to keep the virus from spreading the west didn't the west ridiculed that dismiss china's response as incompetent they tried to keep the markets happy rather than the people safe and what they got america and europe is the worst of both worlds and economy on the brink of collapse and the death toll fast eclipsing that of chives of the world health organization says the global death toll outside china from corona virus is now overtaken that inside china france has imposed a near total lockdown on citizens with more than 100000 police officers deployed to

enforce quarantine the measure is unprecedented for post-war europe. remodelled the message is clear stay at home search these are containment measures similar to those with spain and italy all persons traveling must be able to justify their movements each person will have to carry a document certifying the reason of his or her journey if. it comes as the european union radically steps up its efforts to contain coronavirus restricting all nonessential travel for at least 30 days several nations including austria germany and france have closed their borders and looked at whether the era of free movement could be coming to an end. for years populists have been advocating tighter border controls within the european union which you and the national governments have criticised yet in 2020 that is exactly what we're seeing happening it all started with italy and border controls being imposed from people trying to

leave it to lead to go into austria but since then a host of other e.u. countries have done exactly the same we have seen slovenia hungary denmark and now even germany shutting up shop saying its borders are closed shanking which is the idea of free movement within the european union to do that without passports is essentially over well for now at least if. the borders of the entrance of the european union and the schengen zone will be closed concretely all travel between known european and we're opinion countries will be suspended for 30 days or we are forced to stop flight connections to these countries and establish controls at the swiss border just like the ones we have already implemented with italy when you're hungry border in the direction of italy remains closed. without

a valid reason travelling in and out of the can through will no longer be allowed. to burn on entering the czech republic or all foreign those foreigners who are the permanent residents are all residents of. life in the e.u. as we know it is over museums shops bars cafes schools have all shut up shop in many countries in a bid to pause the peak of the infection rates in france the bees which is the way that people sort of greeted each other with kisses on the cheeks has been pretty much a band people have been awkwardly bumping elbows or knocking their heels together but even that. has been petering off as people are becoming more and more whipped up into hysteria that they could get contamination from just being close to another person the government's line is keep your distance from each other yet in the either this conglomerate of $27.00 countries which are all meant to be singing to

the same tune it doesn't seem that there's one rule that all are applying even the european commission is warning that the closing of borders could actually pause supplies thousands of bus and truck drivers stranded at internal borders on parking lots creating more health risk and disrupting our supply chains if we do not take action now shops will start facing difficulties in refilling their stocks of certain products coming from elsewhere in the single market some see the idea of governments in europe essentially locking down their countries as being the start of a slippery slope even warnings that this could be a nail in the coffin for globalization as we know it the coronavirus crisis threatens the globalized world was the pandemic and panic a bates those who believe the openness to people and products from around the world is generally a good thing we need to make

a case for it afresh in persuasive ways. and he says this could be a gift for populous parties who have been advocating this this tighter control of borders for many many years and also those title restrictions 19 has highlighted the downsides of extensive international integration while funding fears of foreigners and providing the just said mysie for national restrictions on global trade flows of people your pet store oakley has been a cultural hobbits bars it's cafes its restaurants hazes of people coming together discussing and debating ideas and some fear that this idea of self isolation as we've been told to do could actually cut through the fabric of that some have also said that it will see the nation fighting loneliness as people self isolate in their homes and their apartments now in italy some people have already tried to overcome that we've seen these marvelous comes together of people singing on their

balconies as there's a sense of we're in this together oh god. 'd but the longer that self isolation goes on some say could be weak some say it could be months for many people their homes which are meant to be their safe haven the place that they go to relax and rest could become more like a prison cell future historians will remember the time 90922020 as the heyday of european global integration which came to an end free borders of free movement. inclusion etc. all of a sudden we see

a complete this mode goes into reverse. the the consequences would be grave no question i do not expect any return to the status quo ante we would see a different either you or i do not expect a disintegrated europe but how this will how this will work out how it will look in in reality for example with border controls that's a completely different question dreamy days of the past with no border controls at all i see is permanently over gone. fear domestic abuse could see a spike amid the coronavirus crisis we'll have more on that story later this hour. u.s. tech giant apple has been hit with a fine of more than 1000000000 euros by france's competition or 30 the company and 2 of its wholesalers in france were found to be colluding to stifle competition and

control prices apple and its 2 wholesalers agree to not compete against each other and prevent resellers from promoting competition between each other thus sterilizing the wholesale market for apple products apple disagrees with the decision saying that it is disheartening and to appeal it the company also pointed out that the order will cause chaos for companies across all industries however it's not the 1st big fine that france has made up or coughed up for lately just over a month ago in fact it was slapped with a $25000000.00 euro penalty for a software update that was found to slow down older i phones and it's not just apple google was ordered to pay the french government $500000000.00 euros last year too in connection with a tax fraud columnist and elizabeth new take political analyst charles will tell they believe that those fines do not make a big deal to the large companies like apple. i think if you were talking about fines of 1xb5xb1cw you'd start to get some attention but so long as the fines are

in the low billions even for such a company like out on or about microsoft or whatever the system he's got his trademark opposing approaching or about a trillion dollars so it's really you know less than a penny to them it's not really it's hurts you don't want to pay a $1000000000.00 fine but it's not the kind of thing that's really going to change behavior yet in my in the governments around the world are going to including our own u.s. government are going to take a much closer look into the degree that high tech companies are abusing their market positions in effect operating the or out ways or even monopolies driving other businesses out of out of existence around the globe so to see i think a rebalancing of power between the tech giants and the rest of the world treaty it's attended war and in this respect it's probably a good thing that the governments are fighting the color like not eventually

everybody's going to going to get to some sort of agreement but it's the you know the time when google said be good don't be evil which was a company moto in the late ninety's that's over they are whether they actually set out to be on the all sometimes evil in the markets and they certainly distill the play that the free play of militants and that's all they've got to be contained and the only way is to is to hit them wait cuts which is the process. they come about with them when used in just a moment see you after the short break. now if we have what would be historically considered one of the greatest financial crises of the past 150 years and where does it fall into the category where how do

you classify it i think we're going to see a global depression and to your point how quickly do we get out of it the activist fed the problem there is that their prescriptions thus far have caused the problem so they're actually the problem their names have been fed the central banks need to be removed from the equation because they are the problem. seemed wrong. just don't hold. me to these yet to shape out these days to come out ahead and engage with equals betrayal. when so many find themselves worlds apart and we choose to look for common ground.

freddy said to the door shut all the little track there was and was new york it was on the track the star was sure of the chief we are stuck you feel and i industries for war for your clothes or now don't i do it is me going for bush but i will push yourself harder sure i mean kick your ass know. you're going to. come back as ever more people across the globe and up holed up at home because of corona virus domestic violence activists have been sounding the alarm about

a surge in cases abuse is about power and control and then abuse or can use any tool to exert that power in control including the national health concern such as covert 19 we expect rising tension and likely rising violence which makes everybody more vulnerable the survivor and children in the home. to say pandemic or related restrictions worldwide will make it harder to help domestic abuse victims they point out that people at risk still have someone to talk to though as advice hotlines will remain open to the host gina loudon says communities need to look out for the vulnerable. when ever people are cloistered in close areas for long periods of time emotions are naturally heightened this is normal so when you have people who are already emotionally vulnerable our or in bad emotional relationships those emotions are also deepened and and

a lot of times heightened and so it can lead to some of the worst unfortunately and so you can see spikes in domestic abuse i don't think it's the job of government or the role of government to monitor the emotional health of people necessarily but there are a lot of ways for people to sort of self check neighbors can check on neighbors family members can check on family members and to help your neighbor out or help your family member or friend out and especially those who are vulnerable for whatever reason and this is certainly one of those reasons you might want to do some checking on people and then move to reduce public contact several states across australia will suspend roadside police breathalyzer tests for drugs and alcohol and some took over 900 factions spiked over the weekend this is ucas been made to minimize the risks to queensland police officers and the community. the police commissioner in consultation with the minister for emergency services has

determined police officers may decide it is not reasonable to undertake stationary r.b.t. and in the current climate will strayer currently has around 370 cases of corona virus 5 of them have been deadly all citizens returning from abroad must go into self isolation for a period of 14 days you can list jennifer the master and former u.k. police officer peter cook can share the views on whether the police should change the way they work because of the pandemic. you have to be worried about everything that's going on right now but to say that we're just going to stop utilizing breathalyzer tests is absolutely ridiculous australia was the 4th country on planet earth in terms of high auto. alcohol related auto accidents and that's just behind the united states and a couple others but 30 percent of deaths on on the road in australia were caused by drunk driving we don't know what's going to happen in the future but it doesn't sound like something that's going to be years and years and years is going to be

from them so that impacts the limit states but you've got so while the pros and cons of doing not doing bottom line though is a cult can only do one thing at once and if they need it for what is considered the priority of stuff they're not going to be there to do anything else but a situation like this where it comes to 1st responders who are law enforcement our police forces we need to make sure every country especially now needs to be putting their funding aback and has to be reevaluating their budget needs to be helping our 1st responders our law enforcement because that's where people are going to melt down unfortunately we don't want people to riot or to go crazy at all we want people to be calm in the u.k. the employer has an absolute responsibility so you do all 'd that is reasonable possible reasonably possible to keep their employees sayf from injury or illness when work over so you're reasonably practicable is something that the course would decide there can be other measures and 2020 technology is advanced enough where you

can either find different kind of brother lies or devices or or have ones that could be disposable utilize a little bit more funding for local law enforcement so that we can keep everybody safe talking about what are we going to do as a contingency if we suddenly get a shed load of stuff to do to do with the virus what are we going to knock off the list that we're not going to be doing any more we need to keep this in proportion. you are watching r t international thanks for tuning in this morning join me for updates from. you no offense but you no longer a young woman in fact you are one of the last living survivors of the nazi ellis

asked am aware of it. leave for a day. all you like. you can never forget they are going now auschwitz was really like to be inhaled close you would never believe it was a human can do to as a hobby of course for 30 years and most of the curb it it all seems so a lot offered by the side ways to make it feel good when i get out on the farm saw you don't want to take my son to herd next the also you can listen in the hope for the bless my heart hurts. so what we've got to do is identify the threats that we have it's crazy on from day shouldn't let it be an arms race move his arms off and spearing dramatic development only personally i'm going to resist i don't see how that strategy will be successful very critical time

time to sit down and talk. blushes and then they teach in the cheek a daughter who mourn the secret the whole thing was true to me your he said it's not that it's indeed some shots that always sting against. him. beautifully because you know he said he included at least. a little bit i was quote one of them commenting that. you should. form which we believe usually is. given to us not to the south korean his just tell them that he come forth from birth or.

did not hear what you call british mr west imo she of the school. time max kaiser this is the kaiser report well you know things are turbulence and we've got a lot to cover so stay see what's happening yes max we've been talking about this preparing you for years for this this financial pandemic it's not too much of a shock we are seeing very $929.00 or $987.00 sort of like plunges in the stock market and of course those rallies that followed 929 in fact here is

a headline from dow jones market watch this plunge looks a lot like the ones that rocked stocks in 192-998-7200 extension 8 if it keeps tracking a lookout well this is an interesting that they're making the 929 comparison because it reminds me back in 2008 speech made by ben bernanke who was then running the federal reserve he was a successor to alan greenspan and he was doing this great lecture about how they cure the crisis of 2008 because they have something that they didn't have back in 1929 they have the printing press and this began a continuation of what alan greenspan did in the 1987 crash was to print their way out of all problems and the idea was that oh we can stop printing at any time and this is all been proven to be false you can't taper a ponzi scheme furthermore they claim to be fighting deflation by all this printing

and yet what they created was deflation and deflation in the sense that what we're seeing now markets are collapsing and the dollar is rallying that's a hallmark of deflation why was it why is it what why did this happen because of money printing because the money printing gave a lot of cash to the worst actors. the economy the banks pushed out all productive economy and we end up now with an official post-mortem to what started in 20082008 was the global financial crisis this is part 2 and this is the death you and i were reporting in 200-720-0820 extension 09 through the entirety of the financial crash we started at something like 5 and a half percent interest rates at the fed so they were able to cut rapidly once bear stearns collapse in march of 2008 remember they did a 75 basis point emergency on the sunday night also central banks were

coordinating and working together we were not yet in the process of rapid decline this time we are in a process of d. globalization so though gold is very volatile i think you're going to see more central banks start to try to accumulate whatever is available for this post crash whatever is going to happen it's going to look very different so nobody could genuinely predict what what might happen but i think structurally our economies will have to change in some ways it'll be better because jobs will have to be brought back to the u.s. because of this decomposition and because of the exposure that we were exposed as being very fragile that our economy was held hostage by the fact that we weren't able to manufacture personal protection equipment example for the health care workers well the 3 days right put on your 3 goggles those 3 days are zation the dollar is ation depopulation and we would talk about this stuff for a couple of years.