the headlines in our to us markets offices were sell off in all of them 3 decades made over the coronavirus president donald trump seems unfazed by the looming threat of a possible recession also to come frances says for mccoy but 90 taking its efforts to contain the pandemic to a new level as an increasing number of member states temporarily close their borders and the borders of the entrance of the european union. will be close if we are forced to stop like connections to these countries and establish controls at the swiss border without a valid reason in and out of the can through will no longer be allowed and i phone maker is ordered to pay over a $1000000.00 euros by france and competitive practices.

hello good afternoon welcome just gone 2 o'clock here in moscow you watching r.t. international now the u.s. president donald trump has brushed aside fears america may be headed for a recession although didn't rule it out completely the coronavirus pandemic is causing turmoil on financial markets worldwide despite drastic action from central banks to limit the damage. is the u.s. economy heading into a recession well it may be what i think in terms of recession with thinking 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 on monday the u.s. stock market suffered its worst trading day since $987.00 the share prices tumbled

by 13 percent amid fay's over the coronavirus with more now on the current global economic situation is ati's more ghastly. unless you majored in finance everything that's happening may seem a little overwhelming what is going on why are markets melting down while bankers wording around like headless chickens and a few minutes with this monopoly set i'll explain my 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 big good pensions you take this money and you put it in the banks pending 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. sanctions. now is the time to take extra steps we're ordering the suspension of all retail activities with the exception of groceries pharmacies and other outlets selling fancy 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 out 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 down 10 percent. roughly here in the united states in new york city where i'm sitting is a clear very profound statement that the entire international 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 me also 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 have child that were gassed if there was social media feeds are currently filled with pictures of people killing and panic buying goods at the moment as they brace for lockdowns over the coronavirus but some russians who did experience a market shelves in the eighties and nineties to say they are unperturbed one

quarter explains. stockpiling toilet paper hoarding food long queues everywhere it's a common depiction of the soviet union for many westerners except now it's the 21st century in the western world reeling from the coronavirus pandemic ringback ringback. socialism capitalism it doesn't matter what system when all out crisis is around the corner hysteria has already hit the world economy hard as pandemonium sets in for those who are trying to secure supplies police will hold to a chill or a mock supermarket bowling something old. you know i've been told by constant

conflict with the west put a lot of stress on the soviet economy at times there were widespread deficits of certain products threatening to stab people wasn't exactly the kneejerk soviet reaction though many recall waiting patiently in long queues while others say the deficit's worn even a big part of their lives was not the stuff we got all the goods through acquaintances and i was speculate says it was so much fun speculate says it was somehow courts i remember speculations was something much is space near the store to be the 1st in line but there is a severe shortage of goods so you might ask why in the morning they were the 1st on the list when you bought his bottle we were in spoilt for choice let's suppose there was no red fish but there was herring and milk and dairy products water that was all that ordinary people needed how well they didn't kill for the toilet paper but there wasn't enough of the toilet paper but they looked at it was humor and didn't really focus on it somewhere lol of my best moments were in the soviet union

i do not. remember the deficit well i do remember it but it was a very long time ago there will be no panic with the coronavirus we should remember a time when there was no toilet paper it's who so we know how to live without toilet paper for a country constantly fighting an uphill economic battle with the west people dealt with adversity quite well in soviet times perhaps they knew that a panicked reaction to crisis could be worse than the crisis itself. while the world health organization says the current virus has killed more people outside of china than inside the country meanwhile france has imposed a near total lockdown on citizens with over 100000 police officers deployed to enforce the quarantine the measure is unprecedented for post-war europe. the message is clear stay at home 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. becomes as the radically steps up its efforts to contain the coronavirus restricting or nonessential travel for at least 30 days several nations including austria germany and france have closed their borders to articulate the looks now whether the era of free movement could be coming to an end. 3 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 were hoping 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 0 out. the burma man through the czech republic were all foreigners except foreigners who were the permanent residents or residents are known to do 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 cory to 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 e.u. 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 to assure a less globalized world was the pandemic company debates 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 tighter restrictions 19 has

highlighted the downsides of extensive international integration while funding fears of foreigners and providing the just for national restrictions on global trade flows of people your pet store oakley has being 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 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. 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 or for free movement. inclusion etc. all of a sudden we see a complete this mode goes into reverse. the called the consequences would be grave no question i do not expect any return to the status quo ante we would see a different view 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 remey days of the past with no border controls at all i see is permanently over gone i tell you watching out international just coming up to 20 past 2 in the afternoon we'll be back with more news and a company. join me every thursday on the alec simon show and i'll be speaking to guest of the world of politics sports business i'm show business i'll see you then.

oh yeah welcome back now the u.s. appears to be going back on yet another central plank of its special counsel

investigation into supposed russian interference because a federal judge approved the justice department's request to drop much time to charges against companies accused of being behind declined russian troll farm so let's get more details now from r.t. sask is totally joins me in the studio saskia then just run through this why the sudden you to buy the justice department what we know at times obvious that russia gate and the infamous murder investigation have seemed never ending but it seems that the tide might finally be toddling because on monday the u.s. justice department filed a claim a motion to dismiss all charges against. 2 companies called concord management and concord consulting now these are russian firms which were accused of financially supporting efforts to allegedly interfere in the 2016 u.s. presidential elections but before we go into the whole back story let's listen to exactly the reason that the d.o.j.

gave for dropping the case in light of the defendant's conduct the risk of exposure to law enforcement tools and techniques and the post indictment change in the proof available at trial the balance of queries has shifted it is no longer in the best interests of justice or the country's national security to continue this prosecution. so washington says it's backed out of the trial on grounds of national security and it might be linked to the fact that back in 2019 confidential information from the meter investigation was apparently altered and leaked online now the d.o.j. never accused anyone of the leak but as we can see today clearly this has stoked fears of the breaches but either way given that just a couple of weeks ago we were looking at a really high profile much anticipated trial this is actually really quite a sensational backtrack from the justice department ok let's won the cold and look at why this case was so you send troops to the investigation just tell us why it

was so important was they pick up while money management and consulting are $2.00 of 3 companies and individuals which were charged in 5 or $25.00 to obviously now a household name this is the major investigation that grabbed headlines and the time and of course the imagination of the american political establishment and it was a huge and it was $675.00 days 19 attorneys 40 f.b.i. agents on a cool $25000000.00 of taxpayers' money but still despite all of thought still no concrete evidence that trump had somehow connected with russia to get himself into the white house now as part of that investigation $13.00 employees of concord what charge now at the time they were working for the international research agency this is the so-called troll farm where apparently lots of fake accounts and social media will being created it was all to sow discord and sway the vote in favor of donald

trump so back in 20 pinpointing concords and indicting him was hailed as a huge victory the fact of course that the head of these 2 companies. precaution was thought to be on friendly terms president putin only for the hysteria. 13 russian nationals and. 3 russian companies accused of a massive effort to meddle in the election if you read between the lines is clearly saying that this was a russian government operation by special counsel robert muller has indicted some 13 russian nationals russian intelligence service for a very very long time has had in their playbook the this information care pain for concorde this one touted to be very welcome news it's actually one of the only in fact the only indicted country that has spent the last 2 years since it was charge consistently contesting or allegations in a court in washington and now we've had the concorde is in fact preparing a $50000000000.00 lawsuit against the u.s.

government over illegal prosecution and sanctions so was the following to see how it plays out but i'd wait a massive u. turn from the justice department and a bit of disappointment for all those people who are hoping that somehow this trial will somehow be engines for those who believe of course that donald trump was elected not by the american people but by the crime itself ok fascinating. thank you. ok let's talk more now with russian analyst martha macauley who joins us from the u.k. this very welcome areas martin thanks for coming on martin does this finally put the kybosh on this russian meddling narrative do you think. because the democrats will in fact keep on with it keep on with it until the member and a trump is reelected then i think it will die a natural death but it's a case which year they believe they believe it and there's no evidence which can convince them to the contrary that hillary clinton lost the election because of

rushing to fields they will not bend from that view and all the evidence which is produced they just say no no let's make news we don't believe that so the democrats will it's like carry on and say this proves i case because the u.s. justice department has taken a better very serious step not an on president step because if you go back to the cold war. the u.s. justice department decided not to charge certain u.s. priorities because it would reveal too much about the us country intelligence operations and so on so it's not the 1st time as happened they've backed away from it but it's a very serious blow to the u.s. justice department under ronald miller nonetheless i looking at it i think the isn't missing is wrong is it is just saying we can't go any further in the interests of national security. yes but that was the argument which was used during

the cold war in the 140 s. and fifty's we can't go we can't prosecutors person we know he's been spying we've got the evidence but we don't want to provided no open court because it would have killed far too much about our intelligence gathering the popular spies in the soviet union and so on so in other words the u.s. justice department is now saying a busy day we can go forward with this charge against concord wells wouldn't because it would reveal too much about how we collect information and how we predator it the other side and also it might reveal who they are doing their informants in russia what they have not known this earlier on the human some might be questioning why trust the charges now because they were found in 2018 what why wait so long before you trot the myth this is your major concern. that's a really good question and i think the reason why they didn't do it well because they had to wait for the report. we couldn't prejudge that city and they couldn't

say right we know the concorde manager has been financing certain organizations but we can't take it in the full forward so i think it had to be that the report had to come out and we had to basically say our country rules we believe that there was russian hacking russian materials in the election but we can't prove it and now we know the u.s. and justice department has said we can't prove it in open court we can believe it but we can't prove it in open court because we do too much damage to our intelligence gathering operations last night and i came our slip we're going to leave it there just running at a time at mass i'm calling russia and i sneak a 1st thank you thank you. the u.s. tech giant apple has been hit with a fine over 1000000000 euro used by france's competition authority 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. well apple does this agree with the decision saying that it is disheartening and it has vowed to appeal the company also pointed out to you that the order will cause chaos for companies across all industries however it's not the 1st time europe has made big u.s. tech giants cough up lately just a month ago. with a $25000000.00 euro penalty by france for a software update that was found to slow down older i phones and it's not just apple either in 2017 the european commission ordered google to pay a 2400000000 euro fine and it was found to have abused instalments as a search engine favorite zone comparison shopping service call missed and elizabeth

new ted and political analyst charles will tell but i think fines big fines do little to deter tech giants. i think if you were talking about fines of 1xb5xb1cw you start to get some attention but so long as the fines are in the low billions even for such a company like apple or that microsoft or whatever the system these companies trademark those approaching are above 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 dollar 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 here monopolies 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 attendant who and in this respect it's probably a good thing that the governments are fighting to call them like that eventually everybody's going to get to some sort of agreement but our own. 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 when they actually set out to be on the all sometimes evil in the markets and they certainly distort the play the the proof replay of militants and that's all they've got to be contained and the only way is to is to hit them where it hurts which is the cost and that brings up tonight for this a washing out say more from us at the top yeah. so

what we've got to do is identify the threats that we have it's crazy confrontation let it be an arms race in this on off and spearing dramatic development only really i'm going to resist i don't see how that strategy will be successful very critical time time to sit down and talk. if you want to know what you know what don't you see to your theory that the practicality tyrrel to the future is what you need to analyze it takes to get to the bottom 3 if you speak to my life whether they like it or not i got tablets this fall with the police and the fire a complete outrage of it and they're still going on in this world. but they don't feel my doctor pusher.