have. confined within the 4 gray walls fine so using. to help him to leave dennis room. and this is a boom bust the one business show you can't afford to miss friendship or in washington coming up the corona virus has now taken hold around the world but to varying degrees we take a look at the globe and check in on the numbers as they stand now plus markets have seen one of the worst quarters in history of the outbreak in fact trading and has stalled international growth and things are looking any better at the start of q 2 we bring you expert analysis on the issue. with the lion's share of focus aimed at the pandemic trade issues may have fallen by the wayside we dig into the new

details of trade and what lies ahead after the outbreak with a packed show today so let's go and die write it. and the united nations on tuesday called for a large scale coordinated and comprehensive response to the coronavirus pandemic while speaking about the intergovernmental organizations plans u.n. secretary general antonio terra's said the world needs to come together to fight the spread of the virus. it is essential that developed countries egypt is. less developed to boast of their health systems and their response to the best city to stop to this nation. otherwise they still nights when it is easy city like wildfire google's office is needed. of the s.

and the prospect of the disease remerging which was previously suppressed. and the secretary general also addressed the economic impact of the pandemic saying this could be the most challenging crisis in 75 years it is an economic impact that you bring a reception at reception that probably is no parallel in the recent past the gobi nation of the 2 facts and the reason that it contributes to. immense use of the. same vast and concrete seems that make us believe that this is indeed the most challenging crisis we have faced the 2nd war and this all comes as the international monetary fund says we are in a global recession at least as bad as the last economic crisis mentioning the i.m.f. expects a recovery in 2021 counts the total number of cases of crow virus around the world is quickly closing in on 1000000 and here in the united states president donald

trump said modeling shows that between 10240000 people could die before this crisis is over now we want to take another global look at how countries around the world are being affected and for that we're joined by our t.v. correspondents are tavenner sayah thank you so much you know brian today we're seeing a record number of deaths recorded in a single day in the u.s. as 865 people lost their lives to the disease now that number of deaths puts america's death toll to over 4309 moving over to europe the virus has now claimed more than 30000 lives and europe olan and what the head of the united nations has described as humanity's worst crisis since world war 2 and here's a graph that i want you to look at and may have them once they put that up for you that i want to go over with in terms of what's flattening out now here you see u.s. spain and italy and you see all those cases are going up now the only story

countries currently that are actually flattened out are japan south korea and china and look at the u.s. spain italy you know those are actually just unique to those countries almost every other country around the world you're going to you're seeing going to see cases going up but only these 3 countries you see some sort of numbers actually flattening out and not increasing so that is good news at the moment. now can you give us a little bit of an update on some of these countries that maybe we didn't talk about recently and maybe are getting as much attention when it comes to the number of cases that they're seeing. let's go to south africa which is actually some of the toughest krone virus lockdown regulations in the world but in forcing them has not been easy you know right now security forces are actually firing rubber bullets at anyone defying orders to stay at home and that puts south africa the country more than 1300 reported cases with 55 deaths and then all that the

number might appear low compared to some other countries it's still the most in any other country in africa and that main issue is that authorities are worried that the virus could actually spread to the poor areas where would be almost impossible to provide proper medical attention and then there is jordan which has been under total lockdown since march 14th you know after just a few cases began to appear around the country the government took extraordinary measures including implementing very strict emergency laws where the jordan armed forces and police were deployed to the patrol the kingdom streets and forcing very strict curfew and because of all these immediate measures jordan has about 274 confirmed cases and 5 deaths and that's very low compared to its neighbors like israel that has more than 5500 confirmed cases with 22 deaths and then as saudi

arabia would have over 700 confirmed cases and 16 deaths now bring you back to what's happening in latin america and the caribbean can you tell us about what's going on there well brand from mexico city to port au prince all the way to santiago chile this is taking root in the world's most on equal social class systems where the 1st cases a virus actually. arrived by the wealthy returning from vacations or work from places like europe and the u.s. where it's now spread to the poor areas in the country but i'm like many of the well to you are recovering medical experts are really worried that the virus could kill thousands of the poorest people and i'm referring to the ones who must work every single day to feed their families living in such extreme conditions that they even lack clean water and power paramedic medical care for example in haiti the western hemisphere's poorest country reported its 1st 2 cases of the virus on march

20th the 1st was actually brought into the country by haiti's most successful r. and b. singer who had just returned from france and is now currently and quarantined but for hundreds of thousands of haitians who earn just a few dollars a day of selling goods on the streets you know quarantine would mean a near like starvation and then there is chile a which has seen cases grow to more than 3000 but most have been in the upper class neighborhoods in people just back again from europe particularly italy and then there is in mexico where authorities say at least 17 of the country has wealthiest people return after being infected during a ski trip to vail colorado which puts mexico's confirmed cases to over a $1200.00 with $29.00 deaths so brands although the u.s. is leading the number of confirmed cases you might not take long before that spreads even further globally because just 6 weeks ago here in the u.s.

the only had 60 cases so fascinating information will look for more updates from you so i don't think you so much and as a reminder you can always find the latest news and information or regarding the coronavirus on portable t.v.'s coronavirus track or r t correspondent science having your thank you so much and following the worst quarter in decades equity markets are starting the 2nd quarter well they're starting honest. live so let's go ahead and bring in some of the expert analysis we love here on boom bust open smith c.e.o. of transformative research joins us tobin thank you so much what are we seeing i mean the dow was down at times more than a 1000 points today and people are said were saying that we were at the bottom clearly that's not the case what are we seeing in the market today to open. well what we're seeing is it's a 4 step process and you know people always automatically for the last basically 12 years 11 years you would buy the dip right we get a correction the market come down maybe 10 or 20 percent we buy that we beat back

up but we're not in that world we're in a world where we have not only a global recession that same time we didn't pour diesel fuel on the 2nd amik fire by having an energy you know complete war price war so now it's cascading and we're not done cascading as i think i told you before we went to the coverage at the end of january we were all in cash about february 15th of our subscribers and money management clients because we were getting information from our context around the world that china had completely under played how bad this was the number 2 that they completely under play how many people you know were traveling out of china and now we have this pandemic so it is too early to be a bit buyer we assume we're going to test the that new low that we had you know call it 2120 to 50 range and then i think we're going to burst through that because no one has any idea about how many bodies are going to be piled up and until we do really bend that curve it's just like a stock you have to earn you know you have

a price moving average we have a death moving average and an infection moving average and until that turns down. it's not safe to buy stocks and oh by the way the bankruptcies are just starting to hit and the in the earnings numbers will hit about 1520 days i mean now so what you're telling me here is you're expecting the same amount of market volatility in april as we saw in march and maybe moving into may and june as well. yeah absolutely and all you have to do is read the vix the v.i.x. that shows the amount of fear in the market for lack of a better or simpler explanation and we've never had the vix not only go to 85 its average has been 16 but it was at 12 when we got into this but it's not coming down and the reason why it's not coming down is it's projecting every day and we're close today it's projected that every day we will have 5 percent volatility up or down and the issue is is that we're going to have that volatility but the slope of that volatility is lower lows not you know lower highs in tow but now what are the

markets not pricing in at the moment what are the unknown variables that are left on the table as you talked about i mean the problem is it's hard to see a response because we don't know where this is going we don't know where this ends we don't know where any of this happens so it's hard to look it's really hard to look for but it's also hard to look at right now because you don't know what's real and what's not real i mean i'm otherwise i don't mean we're out of our affairs there are no i mean. economic wise we just do models right because that's the only thing you can sort of do and we're modeling about 30 to 40 percent unemployment for the service industries for certainly the month of april and probably may you know the great governor of florida decided today maybe we're going to have a coronavirus problem well they're going to have a pandemic down there like nobody's business secondarily we look at it cash flows and you know cash flows are dropping to 0 in businesses small businesses that it's

going to take 3 or 4 weeks for them to get the loan i just was on the talk with the s.b.a. today and it's going to take 3 to 4 weeks to get that money out and i just tell you a service business is they've got you know $1520.00 days of cash so there's going to be an auto wreck there so i don't see the known knowns the only known knowns we know are that china clamped down a 25000000 people and they bent the curve we know that italy after going through all these. albums lock down and they are starting to bend the curve we have done none of that we have we have been basically smoking our own dope thinking that somehow that you know it is all go away and it's the lame stream media that's pushing this thing well that's turned out to be the biggest lie of the century and there are deaths of people that occurring every day today because our government ignored the problem and got way let you know korea had the same amount of people basically a new york city in the solar area they got up and testing in 10 days we're the only

country that didn't accept we rejected the world health organization testing kits because they were good enough for us and we will need them anyway so i mean when the history is written on this this is going to be the biggest government screw up in the history of screw ups and we've got a lot of screw ups. that for sure and sadly may be true the fed is now pulling out all the stops to support the economy what can you tell us about how they're going to continually move this forward i mean it seems like they've said we've got a bottomless checkbook and we're ready to continue to support it but how long can that go. well it can go as long as they want because they literally remember if it was a church he said that's ok they push a button and the new york fed all of a sudden you know they create 10 $1000000000.00 or 10 trillion dollars it's it's electronic transfer right but the issue is not like the financial crisis where where we could solve the financial crisis for it by putting money in we have a health crisis we have small business crisis we have people who would you know in

new york city are could be able to pay their rent they depend on $20000000000.00 a year scuse me a month in new york for taxes so this is the ripple effect and unless the fed is going to step up and start pumping $2500.00 to $4000.00 a month into a $45000000.00 people checking account it is going to get a lot worse before we hit a real bottom tobin smith c.e.o. of transformative research and sobering to hear you but thank you so much for giving us that insight. did you hear baby. time now for a quick break but hey here because when we return with the lion's share of focus aimed at the pain demick trade issues have fallen by the wayside straight ahead we dig into the new details of trade and what lies ahead right after the break and as we go to break there are those numbers of people.

in this community there are people who believe that it's ok to substract food on my table it's really hard there are no jobs and you see that i've got kids and ask and as a parent. i can come up with arguments there's a lot of conflict in the game between the teams most of the conflict i would say. is me. close one on each other. each other is good because the state of california makes $6000000000.00 a year of prison complexes you get so when you live where. you don't care about your so you don't care mind anything.

thanks. and welcome back the trip administration will defer u.s. tariffs 1st most favored nations for 3 months says the white house attempts to mitigate the economic impact of the coronavirus pandemic according to multiple reports now the u.s. had previously allowed exemptions for medical supply but these new exemptions will

include some forms of apparel as well as light trucks according to the reports now the exemptions will not apply to the levies put on 360000000000 dollars in chinese import ports which were enacted due to the trade war and i want to bring somebody in here to give us some insight on the impact of these tariff exemptions and that would be professor richard wolfe host of economic update and author of understanding socialism now professor wolf we've talked about sanctions relief in the past year on the show with you how big of a deal is it to remove all of these economic barriers including tariffs when we're dealing with this pandemic. it is like so much of the policy we're watching way too little and way to rate it cannot make a significant difference the scale of our economic meltdown as do your previous guest made it very clear it is strong on what is being done now and so this is just

a bigger action ted my suspicion or i hate to say there's if it's done to look like you're doing something really is more theatrical and it is. relative to. our problems and now professor wolf what we're also seeing as expected manufacturing activity basically grind to a halt throughout the world a series of purchasing managers index is surveys on wednesday showed steep declines in germany and japan for the month of march now the u.s. was also down as well which was to be expected that you've been on the show saying that we're already in this recession is this manufacturing actually going to be able to come back after the the pandemic is supposedly over or is this a new normal we're going to see until well into 2021. very very hard here's what we can be sure this is the worst economic downturn. that riyad

had probably said since the great depression and if you just cut it and as. i'm of it and there is yet. it's it's. just it's. so hot credits. and you know we asked understood understood that was it the scope of global grants and then again in response to this. huge crisis of 2009 the federal reserve pumped huge amounts unpressured their money in this and drop interest not close to 20 inches in deterrent what did was to give the every business large medium and small all an excuse to cover all the weakness just cover over a band it investment and. limited.

its. own way at. the compressor 2 well for i have just we're having a little trouble with professor wolf's connection as has been the case as we try to everybody tries to adhere to social distancing so what we're going to do is bring back in our friend tobin smith who is still joining us from scottsdale arizona. there were some questions i was going to ask professor wolf and we can have you feel them for us as well and i think this is a big one here you know we're looking at unemployment here in the u.s. as we talk about this economic downturn and they're saying they expect you know 3500000 unemployment claims next week they're saying it could get as high as 5500000 claims in a week what are you seeing here. well we're going to see more than that you know just do the math we have $155000000.00 people in the workforce about 70 percent of

that is in the service right so that's nearly 100000000 blue called 90000000 right . of those businesses about 40 percent of them are large but 60 percent are small and when we put the economy into a coma here and they're shut down yeah they're going to try to get cash to them but we're just way too late french is absolutely right all the stuff we're doing now is sort of like the house is on fire then we pour diesel fuel on the fire and now we're starting to you know we're sit there water guns and try to tamp it down so it's cascading effect there's this concept in economics which is about cascading stops right cascading stop means is that once you hit one thing it sets off another thing which sets off another thing and we can't just stop that unless literally there was there was you know $25000.00 i mean my payroll if i could make my payroll i would need 25000 dollars jumped in tomorrow if i didn't have savings or so and so

forth right there's a lot of coming so we're underestimating this is what i'm trying to tell you absolutely. transformative research thank you so much for hopping back in there to give us a little bit more expert analysis before the end of this segment thank you so much . in zoom the popular video conferencing platform is being slapped with a lawsuit allegations of zoom selling personal information to facebook and other 3rd parties has surface but it's not zooms only issue at the moment our key correspondent tosh's sweet has more on what other challenges the company is facing . as cases of coping 1900. people are working from home many are utilizing the video conferencing platform called 0. students are using it to keep up with their classes and friends are staying in touch on it to keep a sense of community but now according to a lawsuit filed monday this is sending data to facebook and 3rd parties according

to the lawsuit the unique advertising identifier allows companies to target the user with advertisements this information is sent to facebook by zoom regardless of whether the user has an account with facebook zooms c.e.o. has acknowledged its data sharing in a blog post and says they're doing away with the practice erik un says our customers privacy is incredibly important to us and therefore we decided to remove the facebook s.t.k. in our apple base client and have reconfigured the feature so that users will still be able to log in with facebook via their browser the lawsuit also claims is who was paid for sharing user data but according to zooms chief legal officer resume has never sold user data in the past and has no intention of selling users' data going forward but privacy concerns aren't the only thing plaguing the video conferencing company the f.b.i. is warning zoom users about teleconferencing hijacking happening all across the

country there have reportedly been multiple incidents of conferences also being disrupted by pornographic images images and threatening language the agency's boston office is urging users to not make meetings public or sherie links to video conferences on social media as covert 19 has made an impact on the stock market zoom has actually seen positive gains as their popularity soars amid this pandemic while the s. and p. 500 stock index has dropped about 25 percent since its record high in february xoom stock has shot up 45 percent since then as investors believe this video conferencing trend will continue to be a corporate and social staple even after the crowd a virus gets under control to avoid having your information being sent to facebook assume users are being advised to update the latest version of the app. cation reporting in los angeles just weeks r.t. . and as major corporations retool factories amid the pandemic to make health care

products like ventilators face masks and hand sanitizer there is an opening for new products that can help slow the spread of the virus especially in tech for instance a seattle based startup slightly robot previously developed a respect and that buzzes when it comes near your face now it was initially the im you touch was created to stop people from compulsive nail biting hair pulling and face picking the company is now pitching the product as a way to avoid face touching something health care officials have warned against due to the incredibly contagious corona virus meanwhile a professor at the university of hawaii has also designed app that will work with your fitbit watch that works in a similar fashion the product vibrates what it calls your hand comes near your face this product has a creative name jalapeno know because as the designer puts it quote it's supposed to be like you having how opinio juice on your hands you don't want to touch your face or nose and that's it for this time you can catch boom bust on demand on the brand new portable t.v. app available on smartphones through google play and the apple app store by

searching portable t.v. or streamers to your t.v. by downloading the portable t.v. app on apple t.v. and online a portable dot t.v. and you can also find the coronavirus tracker on the portable t.v. app where you can get the latest news and information about spread the virus as always check us out on you tube dot com slash poobah starkey the next. it's a let me. ask i would name will. pick i could. record not the other thing. can you love who you know nothing. to do legacy because don't want to touch. the

what do our own lives the kook on the standards of that not as you had checked on bush. then with the physical entity. the new of those 2 moons known to the cynics to learn in 1000 for not. so would you hire the moody tide to use in did. not. want to meet your house on the net passing them. is your media a reflection of reality. in a world transformed. what will make you feel safe.

isolation full community. are you going the right way or are you being led so. direct. what is true watch is faith. in the world corrupted you need to descend. to join us in the depths. aura maybe in the shallows. because the swarm see the blue of them so moving. to build your school board local was before. much of those who heard the preview or 3 other movies to see him with the north we will we'll. move the bulk move when they.

move should you just look beautiful little i mean it's going to look or it would. move muslim also these girls will give you forms for good girls. to go to shows a look but look you just seem you belong here to show the story to the you should go. to stuff to get it to me to fill it with the littlest they'd say look it is it's. just ashton understands this new it's the mashed old truck stop the president and please control this project until . the 3 of producers proposed this were to snap them up when you look at it as the girls who are to sort your supporters to your shoes as they should shouldn't feel you should put dorothy one whose job is the request.

howdy max kaiser this is the is the report you know stacey i was thinking about this whole world economy and the way things are going and it's like we're flying over the bermuda triangle you know and all the dials and everything and the dash board are going in opposite directions are we going upside down or we up side up we're not sure it's like all so confusing that's because things are getting real and we're seeing in the alternative finance space that call forth turning there's a huge shift going on we've been covering here for 10 years the whole process of decomposition and the dollar is a.