thanks volcanoes erupt and it's going to chill. so very right. my great grandfather's. nobody would care about the law or prison so you'd have wallace should have. a terrible life between them and. and this is boom bust the one business show you can't afford to miss french born washington coming up u.s. jobless claims have doubled in just a week clearing their previous record how does this bode for the economy both here and abroad as we take a deep dive straight ahead plus airlines are facing

a situation that some are calling the deepest crisis ever amid the pandemic will break that down plus as the u.s. continues to soar in corona virus cases will its health care system be able to handle the strain coming up we bring in our resident expert on this subject for the full picture with a packed show today so let's dive right in. and we lead the program here in the united states as president donald trump addressed the social distancing measures taken within the country to limit the spread of the krona virus during his daily briefing wednesday the u.s. president pushed back against the idea of a nationwide lockdown leading up to states to make the decision. there are some states that are different so there are some states that don't have much of a problem there is so low they don't have the problem they don't have thousands of people. that

a positive with thousands of people that even think they might have it or hundreds of people in some cases so you have to look and you have to look at that search you have to give a little bit of flexibility even if a state. in the midwest or if alaska has an example. doesn't have a problem so awfully tough to say close it down and the us president was also asked about travel restrictions in the u.s. as a way of mitigating the spread. i am looking at hotspots and looking where flights are going into this some of those some of those flights i didn't like from the beginning but closing every single flight in every single area and this is a very very very rough decision that we are thinking about. to you go from start to focus and we'll let you know fairly soon. and the u.s. now has more than 200000 cases of crowd

a virus with more than 5000 deaths now it's time to take a look at another global look at how the world is being affected by this pandemic and for that we're joined by our chief correspondent sari tabular saya tell us what's going on around you know the global virus has just reached over 1000000 cases and over 50000 deaths but i before i go over what's happening globally i want to mention that until last month the u.s. the worst week in the u.s. history for filing for unemployment was 695000 people and that was in 982 well as of now 6600000 americans filed for unemployment and that number is going to keep growing as 10000000 americans have so far lost their jobs and the u.s. is still ahead with over 220000 infections you know a nearly $2400.00 people have died just in new york new jersey and connecticut combined and that's a little bit less than half the national total and now in other areas which have

been hit really hard if not actually worse expert warns that italy is actually undercounting thousands of deaths indicating that the death toll may be actually much greater infections far more and italy's official death toll from the virus right now stands at almost 14000 the most of any country in the world and you know since the start of this pandemic people in spain who have been hit very hard by. there's wire as to were told to stay inside but now thousands are going outside but not for social purposes but to stand in unemployment lines as morden 800000 workers in spain lost their jobs that just this month in march now that's the highest monthly drop in modern history and today spain i also had their highest death toll with and $950.00 dead and elsewhere in europe france u.k. and germany combined have over

a 1000 deaths while netherlands and belgium are actually climbing the list with over 2000 deaths combined brand in what's happening in turkey and greece how have they been handling the spread of dissent well ground turkey has so far not fully halted economic activity and imposed quarantines on just 18 provinces in fact turkish president receptor early on is still insist that turkey showed showed quote to keep turning the wheels in the economy and that people continue to work to to continue to work me line in greece most of the cases have actually been in refugee camps much of one of which is a home to about 2500 people and that's currently on the very strict quarantine after 20 our residents tested positive for the virus brand now there is a big story going on right now with 2 cruise ships again cruise ships kind of it weirdly at the center of this pandemic off the coast of florida what's going on

with that well originally it was just one cruise ship it was a dutch own zonda and with over $2500.00 passengers aboard and now that quick ship than idled off the pacific coast of central america after the cruise line and now is that some 200 passengers when in fact it and 4 actually died on board then after nearly 2 thirds of those passengers they passed a medical screening and then they were moved into is on the sister ship. ordered dom and now bull vessels are headed to port everglades and for a larger they all in florida are not designed as caring about your 1000 passengers and crew and their word adama almost 6 carrying a little under $1500.00 passengers but he remains on certain if they are actually going to be allowed to disembark in florida on here's the issue brant the u.s. coast guard is telling a cruise ship to be prepared to care for anyone that's tested positive for the virus at sea or to actually seek help from countries other than the u.s.

says the florida health care system is already really overwhelmed and the u.s. is not alone here you know several other countries have deny permission for the ship to dock embark passengers but the cruise ships a president is really urging of stories to show compassion and to be generous in the face of humanity so it's a very heartbreaking story heartbreaking indeed science have injure our t. correspondent thank you so much for that insightful report. and as a rule my dear you can always catch the latest news and information regarding the crow virus on portable t.v.'s coronavirus tracker now it's been an up and down day for u.s. equity markets giving up substantial gains before bouncing is the labor department's report its huge unemployment numbers here in the u.s. now oil has also had a actually a good day as major by the marks gaining as much as 30 percent at times throughout the day boom bust co-host christi i has been following the markets and filed this

report. as u.s. equity stake a small bounce today before fading on the back of energy and stabilizing oil prices traders are cautiously looking ahead to the new initial jobless claims number after posting an unprecedented 3300000 surge this week is expected to be even worse with goldman sachs estimating a jump of up to 6600000 this is a 2 week sum of 10000000 new americans claiming unemployment benefit with california pennsylvania and. new york leading the charts the group being hit the hardest are those between the ages of 25 to 54 years old primarily coming from the restaurant industry retail leisure and hospitality clerical and the gate economy now with more than 80 percent of americans under some fire lockdown this is far from over as unemployment rises the chances of a quick recovery fades as the economy will quickly decelerate and come to a grinding halt the contraction in consumption resulting from unemployment will

further reduce revenues and earnings for businesses which will increase the debt and duration of the recession over the next few months consumer staples remain in the spotlight as americans hoard staples like toilet paper flour sugar and cleaning agents wal-mart kroger's and con agra are the clear winners in the pandemic trade as investors are now reevaluating positions in this new normal where there are no dividends no buybacks and basically no profits in light of the shutdowns now over on the oil front president trump announced after speaking with saudi crown prince and president putin he expects them to announce an oil production cut of 10000000 barrels easing pressure on oil and in the price war that has ravaged the industry details of the production cuts remain unclear as analysts noted that the u.s. could have to give up something in return in other words sadi will reduce output only if others join or oil has a down over 60 percent year to date so the big question posed by many is should we

just let the industry go bankrupt it's already subsidize and leverage to the hilt and this would accelerate the push towards clean energy so why does not let it fail it was only last year that the us was boasting that the shell industry had rendered opec useless and irrelevant and today american shell producers are getting crushed with whiting petroleum the former shell darling filing for bankruptcy. well it seems like the u.s. will not allow the oil industry to fall the u.s. oil industry is far too big and too important and encompasses the entire drilling in the strait the rig makers the offshore rigs exploration and production pipelines and refining so to allow to fail would mean massive bankruptcies and layoffs but most importantly it's a matter of national security and to allow the industry to fail while being giving up global control back to saudi arabia as washington scrambling for ways to protect the sector president trump has announced he'll be meeting with the big oil executives on friday to discuss

a range of options including the possibility of tariffs on oil imports from saudi arabia as details emerge of a truce between saudi and russia traders still remain very skeptical as president trump has on more than one occasion exaggerated that we were quote very close to a deal when in reality there were just incremental news flow the pop is being sold off and brant settle back at support at $30.00 handle and the dow gave up its $500.00 point morning rally and major indexes data gains as well back to you brett . and thank you kristie let's bring in more expert analysis from our friend todd horowitz chief strategist at baba trading above let's let's actually start with these unemployment numbers 6600000 claims in a week. and it seems it's only get worse we talked about how it could reach 30 percent or just earlier this week what do you make of these numbers and how concerning is this. high brant you know what they're worthless or meaningless

because we know it's going to happen this is not a surprise this isn't because of a major economic slowdown this is because companies have to close because we can't create now is it going to cause a problem yes there's going to be a problem in the supply chain there's maybe a plot problem everywhere and many of these businesses will never come back but the other day it's not something that happened because the overall economy was weakening i mean i felt we were already in aris. before we got to this part but this is just all news driven and again you've got to shut down so business at the layoff employees and that's what we're trying to see them avoid by all this free money and they're not giving from the fed but at the end of the day it's not a surprise and we shouldn't be shocked by it because these numbers are artificial because once we go back to work and once we can open up the country we're going to be back at normal rates but if you think that we're in a recession you've said it here on this show many times we're already in the recession so when all these people are forced to lay off workers like they are now who are having to to face the unemployment lines but the reality is so many of them

are going to go back to work because unfortunately these businesses are going to fail somebody people are not going to make it out of this so i just see that see that as a huge concern here. is a concern but again i think you know a lot of the companies will come back and other companies are going to hire him because listen let's face it the companies that survive this are going to need more employees so they will take up some of the slack of the people that are going to go back to their small businesses you know again one of the things we know about business is that we can do x. amount and from that x. amount those people are going to have to work so what's going to happen is the bigger companies that will survive this or the stronger companies that will survive through this period will be able will need more employees to hire and they will go to the open pool that is there now is employed by going to be at 3 and a half percent you know anytime soon no i mean we'll probably when it's all said and done we'll probably end up somewhere in the say the 789 range when we get back

to work and then we'll start growing again from there but again we were in a recession this was started before the coronavirus it's just been accelerated because of it and now we've talked about oil quite a bit lately as the commodity has just been ravaged and we saw oil prices bounce today as much as 30 percent at times what do you make of what's happening with oil as this news comes out of the white house speaking with the saudis. what you know as you as i talked on monday ok i said that there's going to be a bounce i mean you know again it's such a reprieve are repressed level that there's going to be some sort of a bounce when we get the bounce now again you saw today we have to about $28.00 bases may crude and we close around $24.00 and a half so i guess either we're going to probably work our way lower again this was a quick reaction which really caught a bunch of traders on the short side so this is a good old fashioned rip your face off short covering squeeze and the end i think we start settling back down not over go back to 20 but i don't see it's going to 30

anytime soon horowitz above a trading thank you so much for your insight as always we'll have you back soon. and time now for a quick break but hang here because when there is so much more after the problem and as we go to break here are those numbers at the close. i can't show you my face but i'm going to teach you must story in 1903 this man was sentenced to death. charged with capital murder even though he didn't have the gun didn't pull the trigger didn't intend to kill anybody to mention living in your bathroom for the week with the center for 23. i doubt that he deserved to be.

confined within 4 green walls. using. to help him to leave defense room. under our attention is biased information don't know about more so we would. the loser of this information is going to ask how many people buy his goods. when there are other. risk factors that it is. to make a better outcome. by the by some of this neutral bias. and welcome back u.s. airlines are facing their deepest crisis ever that according to officials in the

airline industry who are warning that in the midst of the coronavirus commercial flights have all but come to a complete stop from march 24th to march 28th flight aware track about 2 180000 flights which is roughly half the number of flights from the same week a year earlier now the transport association said today's crisis is far worse and more widespread than after $911.00 when u.s. airlines lost approximately $19600000000.00 in revenue in 20012002 after the terrorist attacks the us government provided 15000000000 dollars to airlines in compensation and loan guarantees but the crisis is far worse so the big question is can the airline industry survive joining us now just such a boom bust cosen investigative journalist ben swan ben always a pleasure to have you now the big question here is can the airline industry not just in the united states but globally survive without massive government intervention. i get that is the question is and i think the answer to that is

probably not but it's also they don't have to find out if they could survive because they're not going to have to find that out the reality is governments are already bailing out airlines all over the world look that march 27th bailout that was signed by the president of you know the u.s. economy that 2 trillion dollars there's 58000000000 dollars earmark specifically for the airline industry in there we know that over in singapore the singapore airlines just got $14000000000.00 as part of a rescue package in that country so so different countries are handling it in different ways but one thing is pretty consistent across the bar which is that most airlines are getting some kind of bailout from some government entity in a way the government's putting so much cash into these airlines is there a possibility that more airlines find that governments begin to take equity positions in their airlines rather than just bailing them out. yeah that's a that's a really good point and i think that's what we're going to see is specially in a lot of other countries i know in germany that's being discussed right now with on the airways over there they are you know trying to get

a bailout from the german government but the german government is saying we're going to probably take an equity position and own part of this airline if we do this and listen as a free market i don't like the idea of governments taking equity positions simultaneously you have to look at it and say these companies cannot survive on their own why wouldn't governments take some kind of equity position in the airlines because clearly they can't survive on their own when a crisis hits it's essentially an investment into the business so most now meanwhile exactly instead of just giving away taxpayer money absolutely and end up british airways is also saying it's in talks to suspend about 80 percent of its cabin and ground crews this after having already reached an agreement to cut pilot pay by 50 percent now u.s. aerospace giant boeing is also saying that it may have to cut permanently couples issues within the company are we about to see a new normal of contraction in the airline industry about 30 seconds for you ben. his real quick i think i think it will be a momentary contraction i think it all come back certainly you know and as todd

world would said a few minutes ago the same thing with the unemployment numbers what we're seeing right now is not the result of an economic crisis it is a pandemic or a virus crisis and virus economy should balance back pretty quickly once life gets back to normal whatever that new normal looks like well and it's interesting because we've talked continually on the show and you've been all you've done as well about how we have been in this recession that there's a bubble ready to burst so it's wonder if the coronavirus is actually going to create that maybe create some long term issues co-host and investigative journalist ben swan thank you so much. and the world health organization is european arm says 95 percent of europeans who have died due to the corona virus are over the age of 60. that over 95 percent of. those older than 60 years. and as the united states has more cases of the coronavirus than anywhere else in the world how prepared is the health care system to discuss we're joined by the host of the news of the rick sanchez rick sanchez

full disclosure here rick is also the founder of a managed care company in south florida rick thank you so much for joining me here i think the big issue here is we have 62000000 people on medicare in the united states most of them over the age of 65 some of them are disabled young people is the system ready to handle that medicare is the best thing that can happen right now given what we're dealing with with the coronavirus and let me explain to you why people over the age of 65 who are on medicare in the united states know who their provider is not only do they know who their provider is they actually have a group of providers in many cases who are dealing with their health that's why it's called managed care they're managing the care of that individual you and i and most americans can barely name a doctor we go to because our health care system is so confusing so why is that so important during a time like this well think about this for a minute if the doctor knows who the patient is knows their telephone number and

knows where they live they can immediately contact them and say here's what's going on right now we're in a pandemic i need you to stay home do not come to the office for your appointment we will send someone to you we will send truck or a van with you or prescriptions we need you to stay home in these in other words they're communicating with them they're sharing information because what's key we don't want that 65 year old patient to go to a hospital where the system is already burdened and my gosh heaven for having forbid what's going to happen they can get sick and at that age if they can get if they get sick there's a real good possibility that they could die. i mean we know that there have been some easing of the testing will now be covered but we're also seeing access a lot more access to care for medic. recipients but the big issue is what about payment for treatment what are we looking at there are these medicare recipients going to have to pay big money out of pocket everything is being waived right now

even for people who aren't on medicare but remember and let's think of the model now how does medicare work. if rick sanchez is your bars doctor if i am your doctor i only get paid if i can take care of you if you get sick and go to the hospital i take a hit financially so the way medicare is designed in the united states and frankly i think it's a brilliant system i think any time you can incentivize someone to do well and in this case it's to keep somebody healthy i think it's a better system so as a result anything that i as a doctor earns a system can do to keep you well and keep you the hell out of that emergency room or 'd some hospital that already has too many people with it and they could barely find a ventilator for you the better it is for me so the last thing i'm going to do is charge you for anything at this particular point in time and i want to talk a little bit about a broader health care system it's this pandemic because we're talking about a lack of beds a lack of ventilators like a massive lack of doctors really and

a lack of everything and you know a lot of people call that a failure of our healthcare system which i can understand that but also if you look at it this is a once in a lifetime experience that we maybe maybe it's a once and i want universal failure yes i mean the right word you used is failure i mean yeah it's a failure of the health care system it's a failure of planning it's a failure of the government it's you know i was talking you just talked about this one he and i were talking a little while ago and you remember after 911 when we learned that there had been a warning from intelligence saying the united states is about to be hit by terrorists using planes it was ignored right there's also been warnings on this the united states will be hit with a pandemic do we have enough ventilators do we not have enough hospital beds well though because well as we know the system as it's designed it does you no good to have a hospital bed nobody's using it but you have to think we have to have these in surplus for the day the eventuality of this comes we didn't do that we just didn't do it and it's interesting because i tend to believe that what's going to happen here is

in the future we will i mean not to be say prepared but we will have those beds we will have those face best we will have those ventilators to. as you mentioned 911 look at post 911 air travel completely changed because of the act one a vent now because of this are we going to see all of that ready to you know be ready in the future well gosh let's hope so i mean you'd think we'd be we'd be foolhardy not to take this is an example in the future and change that but right now we just somehow got to get through this and hope that the burden on the health care system is not so much that people die needlessly and that's really all we're trying to stop right now we're trying to stop so many people all from getting sick at once so that they don't all die at once heaven forbid rick sanchez host of the news with rick sanchez thank you so much for joining me today as always appreciate having you on boom bust always appreciate being on your show as well thanks and that's it for this time of boom bust on demand on the brand new portable t.v. apple bailed out smartphones to google play and the apple app store by searching portable t.v. or stream us to your t.v. by downloading the portable t.v.'s on apple t.v. and online a portable t.v.

you can also find arc rotavirus tracker on the portable t.v. after you get the latest news and information about the spread of the virus and as always check us out on you tube dot com slash boom bust r.t. see you next time. in london julian assange standing trial on whether he will be extradited to the u.s. to face espionage charges the stakes could not be higher songes libya even life is on the line freedom of speech is also on trial so you wouldn't know the street. micrographs friends aren't slights against you know whites or men for example

there's there's fights against women or nonwhites so it's it's it's always you know the i. idea is that statements that directed toward a privileged group are interpreted differently than a statement directed toward an oppressed group and so that's kind of the whole framework and it's a it's a political framework that's used the result is of course focusing at least on certain kinds of minor slights and say more rather than the north and more than we need to call attention to them but it's not all slight so it's a very political in this country a. little bit of let me. ask i would name will. pick i could. not go both in. this show more than.

you love to lose you know mothers. tend to like to see because don't want to come. to who want to have all of the kook on the scene do it in the now as you. know most of the people focus. on you and those to moan. to the cynics to learn and to for not. so when you hire a commodity tied to use in to. lead them. to me when i meet you house on the not classroom.

your government and our government and all the other major governments of the world know what's going to them when it's going to. 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 erupt 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 those should have. a terrible life between now and the.

headlines this 3rd of april israel struggles to get everyone to stick to the lockdown especially one the old troll for dogs town that's no virus red zone for ignoring the best medical advice. on. the theme. of the. grease quarantines the 1st great migrant come to be hit with an outbreak now furthering concerns the conditions inside are easily spreading the virus. here president putin extends russia's paid leave phenomena essential workers as well as home.