the u.s. market suffers its worst selloff in more than 3 decades made fears over the coronavirus but president donald trump seems unfazed by the looming threat of a possible recession. france declares war on the cave of 19 with ease taking its efforts to contain the pandemic 3 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 closed we are forced to stop flight connections to these countries and establish controls at the swiss border without a valid reason in and out of the country will no longer be allowed on the us drops much publicized charges against the peace of being behind the claimed russian troll from apparently destroying another key of the russian fiasco.

but i know that just gone 3 pm here in moscow you would ask international law u.s. president donald trump as boyishly brushed aside phase america may be headed for recession without though ruling at that possibility 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 thinking in terms of recession with thinking in terms of the virus once we step 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 but on monday the u.s. stock market suffered its worst trading day since 1970 the share prices tumbled by

13 percent and made fears over the coronavirus with more home the current global economic situation is artie's more against 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 bankers whirling 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 or you take this money and you put it in the banks depending

how smart they are all 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 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. we here in the united 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 what follows 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 child that social media feeds are currently filled with pictures of people queuing and panic buying goods at the moment as they brace for lockdowns over the coronavirus although some russians who experienced empty supermarket shelves back in the eighty's ninety's t. seem to be perturbed by this 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. or 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 that deficits weren't even a big part of their lives it was not the way we got all the goods through acquaintances i was speculate says there was some advance speculators they were somehow courts i remember speculations was something much is they slip into 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 weren't 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 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 its all 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 or the world health organization is now i say that corona virus has killed more people outside of china than inside the country meanwhile france imposed an almost total lockdown on citizens with over 100000 police deployed to enforce the quarantine the measure is unprecedented for post-war europe. but more dalt the message is clear stay at home these are containment measures similar to those with spain and italy all persons travelling 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 does come is the radically steps up its efforts to contain the corona virus restricting all non-essential travel for at least 30 days several nations including austria germany and france have closed their borders artichoke dip into looks now whether the year or a 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 you're not clear borders of the entrance of the european union in the schengen zone it will be closed concretely all travel between known european and european countries will be suspended for 30 days or we are forced to stop fly 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 foreigners except foreigners who are the permanent residence a permanent residence a pervert for over 90 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 bs which is the way that people sort of greeting 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. 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 tighter restrictions 19 has

highlighted the downsides of extensive international integration while finding fears of foreigners and providing the just said mysie for national restrictions on global trade flows of people europe to store a cli 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 of 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 '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 called the consequences would be grave no question i do not expect any return to the status quo ante we will 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 a 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 as permanently over gone your c.r.t. we're back with more news in a couple days. to. seemed wrong. but i. just don't hold. any. get to shape out these days become educated and in the game equals betrayal. when so many find themselves worlds apart we choose to look for common ground.

now in. what would be historically considered one of the greatest financial crises of the past 115 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 said 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. though again the us appears to be going back on yet another central plank of a special counsel investigation into supposed russian interference because

a federal judge has just approved the justice of request to drop much time to charges against companies accused of being behind a playing russian troll farm so let's get more details now from a sassy teles in the studio saskia just run through then why this sudden you. want times russia gate on the infamous murder investigation have seemed now ending but it appears that we might be seeing a ton in the toy because on monday the u.s. department of justice fall to a motion to dismiss all charges against 2 companies but concord. management and concord consulting now these are russian funds which was accused of financially supporting efforts to allegedly meddle in the 2016 u.s. presidential elections but before we start talking through the whole back story to this let's listen to the exact 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 factories 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 the grounds of national security and it might be linked to the fact that back in 2019 a confidential information from the meter investigation was apparently altered and leaked online now the d.o.j. never got to the bottom of who was behind the leak never accused anyone but we can see that clearly this is had an impact on it has stoked fears of the breaches but either way given that the trial was just a couple of weeks ago and it was so high profile it was so much anticipated this is really quite a significant quite sensational back to charge from the justice department just give some details then about why these 2. of this investigation in the 1st place

so well could management consulting are 2 of 3 companies and 13 individuals. charged in proper 20 by rope and i think everyone now knows its name of course the mood of saga what was something that grabbed headlines and the time and of course the imagination of the american political establishment it was a huge and that went on for $675.00 days 19 attorneys were involved 40 f.b.i. agents and of course the counsel $25000000.00 of taxpayers' money but still despite all of that despite all the resources that was still no concrete evidence that trump was was found to be with russia in order to make his way into the white house but still that didn't stop the hysteria this was something that was inescapable it was on every t.v. screen in america. 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 campaign so as we just heard that. part of the meter investigation 13 employees from concord was charged at the time they walk into the international research agency now this is the so-called troll farm and it's important that they were creating and the social media council to just so division and discord and try and sway the vote in trump's favor so 2018 as we just heard that pinpointing concord and indicting the 2 companies was hailed as a massive victory and the fact that the head of the concord group precaution is thought to be on friendly terms with the russian president only of course father fed the hysteria for dropping this case want out be very welcome news it's the only indicted company that has spent the past 2 years in washington fighting its quota

consistently contesting while occasions and fact it's been confirmed that it will prepare a $50000000000.00 lawsuit against the u.s. government for illegal prosecution and sanctions so we'll see how that plays out but definitely a massive u. turn from the justice department and a bit of disappointment no doubt for all those who were hoping that this trial would be some sort of vengeance for those who believe that donald trump was elected not by the american people but who by the kremlin that's true. thank you. russian analyst mark macaulay did tell us that the u.s. dropped the case to protect intelligence seekers. the u.s. justice department has taken a very serious not an on president step because if you go back to the cold war. the us has the problems decided not to charge us priorities because it would reveal too

much about us culture intelligence operations and so on so look at 1st time with this happened they backed away from it but it's a very serious note in the u.s. justice of a mirror so in other words the u.s. justice department is now saying a basically we can't go forward with this charge against concord menzel because it will reveal too much about how we collect information and how we predator it the other side and also might reveal who the informal saw in russia. now the u.s. tech giant apple has been hit with a fine of over 1000000000 euro is by france's competition authority of the company and 2 of his house silas in france were found to be colluding to stifle competition and to 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 0 disagrees with the decision saying that it is disheartening and has 5 to to appeal against it the company also point to that saying that the order will cause chaos for companies across all industries however it isn't the 1st sign that europe has made big tech companies pay up just over a month ago apple was slapped with a $25000000.00 euro penalty by france today for a software update it was found to show down a slowdown sorry old i phones and it's not just apple either because in 2017 european commission ordered google to pay a 2400000000 euro fine it was found to have abused its dominance as a search engine and favor sound comparison shopping service call nist and elizabeth political analyst charles will tell but i think the big fines they 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 earmark 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 attendant who and in this respect it's probably a good thing that the governments are fighting global like not eventually everybody's going to going to get to some sort. but oh 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 they all went on they actually set out to be on the all sometimes evil in the markets and they certainly. played the free play of militants and that's all they've got to be contained and the only way is to choose. which is the boss and that is when you decide to get that always plenty of stories on our website you can find names and often don't come.

as a nation from which to us and that's appropriate. for the president for the month for the forward to the trip jumpers. which are my parents. left to try to accomplish. i will. discuss the global was going to have to pose to you using your voice you. have been playing a bicycle being a sport it's not even funny you're fighting with a microphone or come out. of the porch astroturfing much because. blushes and i think she should utica thought a horse in the village he cut the horse to a team your he said it's not that it's in its oceans does that always sting against

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max kaiser this is the kaiser report well it all things are turbulent and we've got a lot to cover so stay and see what's happening yes max we've been talking about this preparing you for years for this so this financial pandemic is not too much of a shock we are seeing very 929 or 987 sort of like plunges in the stock market and of course those rallies that followed 1029 in fact here's 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 1929.