day while countries around the globe planted more loft sounds but more spending we'll talk to economics professor of richard wolffe about the latest stimulus plan on capitol hill and if it will be enough to save the u.s. from a profession or even worse than there is a global rush to get more kovan 1000 testing kits but the f.d.a. is putting money on hold we have a packed show for you today but let's start by tracking the coronavirus. the global toll for the corona virus now at nearly $20000.00 with more than 430000 come from cases the world health organization recommended fix actions that all government should take to prevent the spread of the coven 19. just expire on. your head. and probably go to work force and.

implement a system to find every suspect it is a community level so ramp up production capacity and i vill ability of testing. forward i didn't adopt the coupons you need to say you will use to treat. patients the last 2 actions were to develop a clear plan for those who are quarantined and then refocusing government on suppressing the virus well europe still the epicenter of the covert 19 as italy saw an increase once again in its death toll this after 2 similar days of numbers suggesting that the worst may not be over for the country spain also recorded a higher number of deaths with a total of 3434 this is the 2nd highest death toll in the world and the 2nd worst hit country in europe following italy and germany now has more than 35000 cases and

a low number of only 181 deaths but even with a comparatively low death toll president of germany's robert coach institute the national agency for disease control and prevention said that it's preparing for the worst. as of march 25th 315541000 cases have been confirmed the number of cases rose by 4100 it needs comparison to the previous day we're talking about the cases that have been submitted electronically through the system of the rubber coaches institute death toll has risen to $14935.00 more than the previous days the actual number is $35.00 cases per 100000 citizens in germany right now which as expected the number of cases has been growing and we are standing just at the beginning of an epidemic some in numbers are growing now i want to show you where restrictions have been tougher in some countries over others with nearly one 3rd of the world's population

under some constraints there is india one of the latest to extend a national lockdown joining italy france spain belgium the u.k. and new zealand than china iran the united states canada germany austria portugal russia australia and even israel all partially shut down but this could follow a full lockdown if the number of cases continue to grow exponentially now of these countries german lawmakers are voting on economic aid the u.k. also outlining plans for that aid as well as canada and russia and the european union also looking for ways to mitigate the economic impact but this while the u.s. is set to pass a nearly 2 trillion dollars stimulus package new yorker means the epicenter of the united states outbreak where cases are doubling every 3 days state governor andrew cuomo says the senate bill won't be anough especially because at the current

projection its peak won't be reached for another 21 days new york city hospitals are already facing a surge in patients without enough workers as governor cuomo makes his plea for even more supplies will president trump responded to his request to get twitter where he said he's worked. being very hard to help new york city and state adding fake news that i want to help them because i don't like cuomo i i do just sent 4000 ventilators now for more numbers and information on the coronavirus be sure to check out our portable top t.v.'s and look for the section at tracking chrono virus but for more market analysis we bring in boom bust co-host christine christie. now futures pared gains overnight as the white house and senate struck an agreement on the historic 2 trillion dollar deal to aid the economy and face the coronavirus the brief pullback came as the bill would ban stock buybacks for the term of the government assistance plus one year on any company that received a government loan from the bill as the market digested the news sentiment quickly

turned positive as the market accepted it and that there was no one new incremental punishment and that company's doing buy back the u.s. equity market finally turned around and put its 1st back to bag ain't that the current crisis began with the dow up over 5 percent following its historic 11 percent surge tuesday oil names like chevron and exxon rally double digits along with airlines automakers and homebuilders leading the charge but how long before the pound the sold off right now the stimulus measures are moving the markets on sentiment which is much faster than underlying fundamentals which would take more time to rebound so now let's talk about this bill this bill worth roughly 10 percent of the total u.s. output is primarily aimed at stabilizing key national industries to prevent as many layoffs as possible now in addition to the $500000000000.00 going towards the businesses and the $350000000000.00 going to hurt small businesses there will also now be a $30000000000.00 in emergency education funding $25000000000.00 in transit funding $30000000000.00 for the disaster relief fund unemployment insurance will be

extended to 4 months an increase to $600.00 per week with most workers eligible for coverage but it is still too early for celebration right now as democrat led house is now delaying the vote for no reason at all until tomorrow by this being a matter of utmost urgency. one of the last tells to close now or bolt on the $500000000000.00 for guaranteed subsidized loans to airlines and hospitals but even as the song and dance politics are coming to an end comes the really hard part the implementation and the execution the focus for investors now shift to when the funds will be disbursed and how fast millions of workers have already lost jobs in recent weeks and companies are unable to operate but even as the market is rallying and sentiment seems to have improved today one of the biggest questions on everyone's mind is was this the correct move history has shown that the government always used a crisis from the civil war to the great depression in order to expand its power not only during the emergency but also afterwards the u.s.

spends just short of 5 trillion dollars a year and yet it was woefully ill prepared for this crisis and now in the middle of this crisis in the middle of implementing a stimulus package you know politicians see an opportunity that cannot be wasted and advancing some sort of agenda this expansion of government authority is dangerous but in short it is what we created and are must be responsible for now well chris christie a companies that binge on stock buybacks for example boeing and southwest airlines they're now seeking taxpayer bailouts just to keep them alive now is this going to cause more restrictions in the future for these buybacks. that's actually why the future has dipped overnight because all the investors were afraid that there will be futures punishments for these companies but now according to the current text that they've been chewed up there is no incremental punishment aimed at these companies repurchasing their stocks so what that means is with the trillions injected into this cut economy everyone will essentially benefit from the fed's

liquidity not just the companies directly receiving the government loan so basically currently as it stands when all this is over if there is no new legislation issued the record number of buybacks will explode even higher as every single company will do everything in their power to recover pre-crisis levels that's been a bipartisan issue of these buyback so we'll see what happened in the near future because i'm sure that will be affected boom bust co-host christi i think you. thank you now for more on all of this and what this means for the global economy we're joined by professor emeritus at the university of massachusetts amherst and host of economic update richard a bluff thank you so much for this time there's a lot to get into this volatile market a lot has happened in the last 48 hours alone now i want to start by asking you st louis fed president james bullard he's been very vocal lately appeared and the media almost every day you could say well he said the economy will take a huge short term hit but it will essentially bounce right back up now this is

after he just said that the unemployment would skyrocket to 30 percent now to be clear that's worst than during the great depression and $133.00 it was about 25 percent now is this bounce back going to happen or are we going to see more of an al shaped recovery. the answer the honest answer is that nobody knows and i remembered amazed that mr willard would be as confident about such an iffy proposition as he seems to be it would be nice to believe all of that but there's no historical basis for doing it let me pick up on one point you made in 133 the death of the great depression unemployment was registered at its peak of 25 percent mr bullet is right and there are others that were great with them we are going down a. conditional on the employment now when unemployment goes wrong let alone like

this every conceivable social problem we have i would go a little child that you did wars you name it goes with it that's one of the reasons you can i possibly predict the explorer out of all of this everything that government has done since we 1st learned about that a coronavirus in december of last year has been doing a little and way too long. and my judgment as best i can see it now is that this bill assumably in the form it takes one on and we will all still be true little and truly well a lot of people are saying like you just said it too little too late concluding a lot of the closures but i want to get back to something you said we have been talking about the great depression people were throwing out the r word the recession before that a lot of commentators a lot of analysts now using depression not just recession but

a possible depression like you're saying now is this something that you think will actually happen. i think it's already underway i think at this point the only debate which we can answer is how deep it will go and how long it will last you cannot put an economy on to this kind of stress which is a matter of life and death for millions of people with a government obviously unprepared with a private sector of medical care utterly understaffed underprepared we still don't have the tests in many parts of the country even determine where the interest is where it's growing let alone the capacity to cope if you put this kind of an economic crash on top of held exist or like there's no one can predict where it's going on or then to say we are the early stages of

a very serious he can't so what that will do the economy time will only tell but i do want to ask you about the federal reserve they've just announced they continue to make most of their own announcing it's going to spend some of its supervisory activities of certain banks so that they can be more flexible in the way that they actually help their customers could this lead at banks taking some unnecessary risks. absolutely has done that every other time 8 the amount of money being thrown at the banks is unprecedented and now to ed as if it were necessary that there's going to be less supervision these are the banks let me remind you these are the same bank over the last thing years have been convicted and finding their billions of dollars literally for violating every rule that if i do shiri or a banking institution is supposed to follow the trust with western provision when

you throw at the president of the money that's a government that has a lap. in any claim the respect they're. really there is supposed to go over well this definitely will be a huge risk and like you said time will only tell unfortunately we don't know how much of that we actually have before this pandemic reaches its peak here in the united states like we're seeing across europe host of the economic update richard wolfe thank you so much for your time and expertise. my pleasure thank you. vehicle production for top u.s. automakers may be shut down well into april now this is according to reuters ford general motors and chrysler all say the original plan to restart plants on march 30th is highly unlikely michigan's governor gretchen whitmer has banned non-essential businesses from operating until at least april 13th but the report says what more has not said whether or not auto production is considered essential

meanwhile a number of factory workers tell n.b.c. news plants should have been shut down even sooner than last week now some of the employees say the nature of their workforces them to actually be within recommended 6 feet for social distancing and surfaces are difficult to disinfect all 3 automakers have had employees test positive for the coven 19 but deny any wrongdoing united auto workers union president rory gamble says we are doing all that we can to protect our health and safety during this pandemic time now for a quick break but hang here because when we return we'll tell you why boeing wants a bailout but not if it means the government gets to take. the stock market i could imagine trading in a 1000 again on the dow and that would be an appropriate level given the true underlying economic factors the bond market interest rate should be 45 percent in the 30 day interest rate ok that would mean bonds would be down 506070 percent but

that's that's something that's returned to a normal valuation and that's what we need right. trade and investment to become metrics bills to come to economic development. most people think about trade they think about goods and services being exchanged between countries and the investment chapter of a trade agreement is about something. very different but what one investment leads to toxic manufacturing that destroys sacred sites all the environment. that means local communities that are being poisoned if they object if they do anything that the company feels is interrupting their profits they can be sued. nationals of taking on the whole nation philip morris is trying to use i.s.t.'s to stop the oracle from implementing new tobacco regulations aimed at cutting domestic

smoking rates a fringe company sued egypt because egypt raise its minimum wage democratic choice trump corporate law joining us as we try to find don't want to party. i can't show you my face but i'm going to do. in 9093 this was sentenced to death. they could charged with capital murder even though he didn't have the gun didn't pull the trigger didn't intend to kill anybody imagine living in your bathroom for that week with his son of a 23 years. of drought that had burke to be. confined within 4 gray walls. using. an all to help him to leave defense room.

in the midst of the congress's 2 trillion dollar economic bailout there are certain industries that have been clamoring for hope among those is the airline industry and among the calls for bailout help has been us aerospace company boeing the boeing c.e.o. is now making clear that he does not want the u.s. government to take an equity stake in the company as part of any bailout well during an interview on fox business boeing c.e.o. david calhoun said i don't have

a need for an equity stake i want them to support the credit markets provide liquidity allow us to borrow against our future which we all believe in very strongly and i think our creditors will too well joining us now to discuss the host and investigative journalist pence juan ben boeing's always on the headlines these days isn't it well president. president making clear that it's important to support the airline industry and including boeing which is also the nation's largest exporter calhoun now saying that this bailout is not corporate welfare and instead it's the role of the government to help them now is that even a fair statement and how much money is boeing asking for ok so how much money is boeing asking for how about $60000000000.00 they're asking for which is an unbelievable amount of money but as to the question as to whether or not it's the he's right that it's the government's role no it's not it is not the government's role to bail out companies that are falling apart it doesn't matter how important

those companies are ultimately to the nation's largest exporter no matter how many people they employ and wonder how many jobs are connected to them it doesn't matter it is not the government's role to bail out companies now having said that 2 trillion dollars is going to brew by the senate essentially to do exactly that to bail out u.s. workers in theory and to bail out some corporations and a lot of that money is you know there it's going to go to the airline industry on a lot of levels but boeing let's be honest boeing is not an example of a company that was hit hard by the coronavirus. go in is an example of a company that had already filled by creating the 737 max jet that crashed twice killed over 300 people and it was unable to sell jets because the main one the f.a.a. is not approves of them flying those jets and there were 2 airlines don't want to use their chips right and the company like you said was already failing a lot of people really lost trust in boeing after that but speaking of the $737.00 max boeing says it plans to restart its production by may that's ending month long

haul triggered by a safety ban on its best selling jet right so that is an earlier timeline that had been expected now is that timeline even realistic. well so it's i don't think it is realistic 1st of all especially considering right now with the climate that we're in consider the fact that boeing essentially came out and said that they saw the. 737 max should be recertified by april that's why they're saying it's been pushed back to may it has been pushed back to may because the f.a.a. was saying it's not going to happen to at least sometime in the summer so that boeing that's making the claims about the timeline but then again why shouldn't we believe them boeing employees were the ones who were making fun of the f.a.a. making fun of oversight at one point before these jets crashed because they don't feel like they have to respond to the f.a.a. right we thought that they they were expecting and by now they're pushing that date to may well we have about a minute left but i want to ask among those asking for the federal bailout is the private jet industry while the national business aviation association which

represents private companies and corporate jets sent a letter to congressional leaders saying that their industry is facing financial uncertainty should the private jet industry even be included in this airline or aviation bailout so at 1st blush i think most people would look at that and say absolutely not it's obscene and ridiculous that private jets that only wealthy people in corporate jets would be bailed out that's insane but at the same time i think you can also make an argument why wouldn't they be along with everyone else because why is it the taxpayers responsibility to keep delta of float southwest afloat or boeing afloat so if you're going to keep all those others afloat why not keep them afloat i don't agree with any of it i don't i don't like any of that getting bailed out but certainly i think the majority of people will look at the idea of the private jet industry is being bailed out and think it's not only laughable but it's obscene but i guess one could argue the other side too and say that these are considered technically a small business one could say for these are absolutely. small businesses for these and and if you and if you're going to bail out other small businesses why wouldn't they be included as well i think it's the idea that only the wealthy use them and

therefore give it will get that rap but at the same time i think a lot of people would look at it and say if you're being honest i have a lot of rallies who are. pilots. it's understandable too well the west coast offense on thank you for your insight. thanks for. all the world health organization is urging countries to step up testing for the krona virus the united states is still struggling to get people tested more than 2 months after the 1st case was confirmed here well some people have even turned to home testing kits but now the feds have put a stop to selling those legal journalist molly barrows here with american lawyer has more on just why molly what's the problem with these home testing kit. hi sarah well the f.d.a. in a nutshell said hey we're not sure if we can trust the results of your test because there are some differences in this home swab test kit approach as would be in say certified medical lab they use a longer q-tip if you will to really get up in there if that's a picture you want in your head in the home setting kids have

a smaller swab and they basically want to make sure that when they get the results that they're going to be as effective or that they'll be able to be believed if you will so that's the problem with them testing kits that's why the f.d.a. sent out a warning letter to 2 companies in particular and some other companies that were start ups essentially 2 out of san francisco trying to market these to people saying hey we know there's probably testing with a plan to send out thousands until the f.d.a. sent out this letter and telling them to hold up well what are the chances that they will eventually be able to use these tests. hopefully pretty good now the company won't come out and say it was 2 out of san francisco that have brought primarily been the focus norks and carbon health and in fact one of those tests was about 160 $770.00 somewhere in there so you're talking about thousands of tests they were going to roll out for that cost they did have some customers take them and so there are those test results of say they've asked to be expedited but they're not taking any more tests right now they say they are in communication as

to what the f.d.a. is so it's possible that the idea get if the f.d.a. rather gives them the go ahead that they can go ahead and remarket those because part of the approach was to deal with that shortage of test kits the lack of access to testing that we had been seeing why are more people actually getting it getting tested now here in the united states and what other steps are being taken in the lab to come about the virus yes so we have seen a surge in testing for a number of reasons basically they had to cut through a lot of government red tape which was part of the slowing of the process in the beginning so more people are getting tested more private labs are part of the process hospitals that sort of thing so people are still struggling here and there but they definitely are finally getting some tests when they need them turkey in fact sent 500000 tests at the request of the united states you've got india that just came forward with a $3.00 inexpensive test kit they can get test results quickly but part of the problem is not everybody still has access to those test kits and even there's a shortage of testing materials so one of the other ways that labs are combating it

though is by finding an antibody we've got a few medical companies and academic labs here in the united states that are working to identify people that have basically built up an immunity if they've got those antibodies they're not showing symptoms they're not sick then hey we can identify who can get back to work and who can get our economy and i know they're using those in new york and california and all hands on deck to get those tests out molly barrows contributor with america's lawyer thank you for your time. thanks they're. staying at home to stop the spread of the coronavirus is something serious but now it's also a game so if you like some competition it's time to play the ab then lee which is owned by snap chat is using location data to keep track of those doing the best at social distancing now before the app would let you check into your favorite meeting spots or help you even find friends but in a twist to keep you at home there's a leader board now to see who among your friends is number one at staying put family also offers an option to scan the globe of your country to see how many come

from corona cases there are now giving you a little extra motivation to stay inside and that's it for this time but you can catch boom bust on demand on the brand new portable t.v. app available on smartphones google play and the apple app store by searching portable t.v. or stream us by your to on your t.v. by downloading the portable t.v. on apple t.v. and online at www dot tv and as always check it out on youtube dot com boom bust r.t.c. and act time. financial survival today with the money laundering 1st to visit this industry difference. this is a good start well we have our 3 banks all set up something new or something in america something over the cayman islands it will do all these banks are complicit

in the doctor says we decide to do it let's go let's. do some choose the under the jailer so you know we did well we've got a national group. oh beautiful jewelry and how. to build again from that you know what money with the higher you go for launch. small seemed wrong when old rules just don't all. get to shape out just to become educated and engaged with equals betrayal. when so many find themselves worlds apart. just to look for common ground.

your government and our government and all the other major governments of the world know what's going to and when it's going. but they haven't told you and they haven't told me they haven't announced. imagine something as big as the earth is going to cause tidal waves earthquakes volcanoes are going to wrapped and it's going to chill. so very for a while right. my great grandfather's. nobody would care about the law or prison so you'd have wallace that should have. a turtle life between now and the. the world is driven by dreamers shaped by phone person those with.

no dares thinks. we dare to ask. the jury justice you could just buy a nobody got. it . yeah.

i have max kaiser this is the kaiser report a lockdown baby prison planet global lockdown a lot of things are being revealed as the target of neoliberalism goes out stacy yes one can just see you until we say otherwise that we realize we are under lockdown as is most of the rest of the world this is the covert 19 pandemic on going around the world but on top of that we have a money printing pandemic we have a us feel dollar global system pandemic.