this is a boom bust the one business show you can't afford to miss. in washington coming up markets continue to surge upward but is this just a bump or a sign of better things to come. out of world oil prices continue to cover around the storable lows the u.s. may have to make some oil cuts of their own then to and or social distancing in warehouses but privacy and health concerns for their workers continue to have a show today so let's go and i've read it.

lockdowns across the globe show signs they are indeed working while the coronavirus continues to change the world with a global death toll now at more than 80700 nearly with more than 1400000 confirmed cases as expected japan's prime minister shinzo abbay declared a month long state of emergency for tokyo and 6 other prefectures to ramp up defense against the spread of covert 19. thank you some all even louis state of emergency has been declared this is the lake city lockdown seen in foreign countries necessary economic in the social services such as public transportation will continue as much as possible in our poll see remains unchanged in that we prevent the spread of infections by taking measures against situations that involve

the 3 closeness is close spaces close did city in close contacts the move comes as a request for people to stay at home but not an official order and violators will not be penalized the new number of cases in tokyo have surged with 1160 new cases the region has a population of 14000000 people on tuesday china reported 0 krona virus deaths for the 1st time since january that's when the outbreak began the country is slowly opening back up while bracing for a possible 2nd wave meanwhile the world health organization warns against easing restrictions too early w.h.o. spokesman christian lynn mayer say that it's similar to being sick yourself if you get out of bed too early and get running too early you risk falling back and having complications india's 21 day locked on her means by cases are still growing that count rise to more than 5300 a country with a population of more than 1300000000 people british prime minister boris johnson

still in intensive care he's receiving standard oxygen treatment but spokesperson for the prime minister has said johnson's condition is stable and he remains in good spirits he was not required or has not required a mechanical ventilator world leaders came together to wish him a speedy recovery and he look you should have a bike to send wish him some of the coverage on your behalf a lot more you really really don't rhyme minister bored silly on its own you know but we went down fighting the violin is. going to your 1st ever medium well i also know a straight say will see that he will drop innermost to resources the capacity to overcome this ordeal i wish him a full and speedy recovery i also want to send best wishes to a very good friend of mine. another friend during lation tremendous jaybirds johnson american general pray for his recovery he's been a really good friend is really really something very special to the u.k.

now with nearly 56000 confirmed cases and more than 6100 deaths now spain which has the world's 2nd largest toll after italy reported a renewed rise in new cases and death after several days of declines spain's health ministry reported 743 deaths in the past 24 hours almost $5500.00 new cases on tuesday that's more than the $1000.00 reported on monday italy is cautiously moving to ease lock down restrictions after seeing a slight flattening of the curve the u.s. still has the world's largest number of confirmed cases with more than 383008 death toll of 12000 of states across america are starting to see signs of hope especially those who took aggressive measures early on like california well the next 2 weeks are crucial for americans and combating the pandemic before numbers and information on the coronavirus be sure to check out our portable dot tv up and look for the section tracking coronavirus. for more on just how this covert 1000 pandemic is

affecting markets we turn to boom bust co-host chrystia chrystia markets are they still rallying. well sorry u.s. equities this morning continued to fill in on the strong rains from monday as investors grew slightly more optimistic that things were getting under control with the dow up 900 points at one point in the day however later on in the session those stocks gave up all their games in the final hour of trading turning negative as sentence soured on whether or not the outbreak is actually improving the markets closed pretty flat slightly down as investors tried to balance a risk to the downside with the opportunity to see the upside from this point where we stand today while the equity markets is looking up slightly the same sentiment is not shared on main street where pretty much the u.s. remains on lockdown forcing americans to drastically change their daily life style 73 percent of americans in f.t. survey polled that their income had been dramatically reduced with nearly half saying that they would be without any income at all if they were unable to work

economists have pointed out that the optimism could be premature as investors were failing to price in the long term follow effects of the crisis so this entire move was driven by optimism and are not are investors that sure cited to sustain a rally up over 20 percent from the lows while the us economy is at a complete standstill so another answer is no much of this move has been nothing more than a giant norma's bear squeeze rally driven by panic exits from the shorts the worry over the pandemic is not over in fact we are likely to start seeing some of this pop getting faded as investors take gains somewhere to end a digit a and the bear squeeze has run its entire course net short positions have already reduced by 20 percent since its peak april 3rd and we can assume that there are no more forced liquidations coming from funds blowing up so now what's next well as this rally gets faded and we get more data points of what the reality looks like after the pandemic or likely head lower as the market is hit with a wave of insolvency it's never seen before unless fiscal policy moves quick enough

to support the markets and broadly implement stimulus to jumpstart the economy before things snowball out of control. the u.s. treasury is now prepared to ask congress for a further $250000000000.00 for the small business lending program increasing the total size of the payroll protection program to $600000000000.00 as banks have been overwhelmed by application already since the program began operating on friday the fed has moved to bolster these p.p.p. loans by allowing the banks to turn those loans over to u.s. central banks for cash this will ease concerns among the banks about getting stuck holding low interest loans and encourage banks to make loans under the p.p.p. so if that sounds familiar to everyone this program is an exact repeat of the arrangement the us government has had with the mortgage agencies like fannie mae and freddie mac. and now finally as we turn over to the oil front w.t.r. is down another 2 percent today as we wait for further guidance out of saudi arabia and russia rotisseries has reported that they are meeting on thursday and were

likely to agree on a production cut but only if the u.s. joins the effort without the us there will be no deal other countries mentioned by opec to collectively reduce production include canada and brazil. kristie i thank you for that analysis but from our we are now joined by editorial director of the american institute for economic research jeffrey tucker and she started just above a trading target of a horowitz gentlemen thank you for joining me today markets seem to be rallying a little bit at least for now jeff i want to start with you will we see more fiscal policy being rolled out in the coming months and when will we start seeing it's a fax actually taking hold what kind of policies should we really expect to see. there's no chance for there to be any stimulus so long as the economy is basically closed i mean i don't even know what that means what are you stimulating i mean right now we've got grocery stores opening open and essential what the paul political class calls essential businesses but there's stimulus can have no effects

long as this is the economy is not opening right now markets are rallying at the slightest tent of liberalization and in the last 24 hours we saw a little bit of that some opinions change in some editorial writers begging for a smile upon us and that gave a little bit of optimism to the markets that are desperate like. water like a person starving in the desert so that's giving a little bit of. buoyancy to the markets but but there's not going to be any stimulus at all in till we see markets open and they can they can pass some of the trillion dollar stimulus package and 2nd make any difference into the markets reopen a lot of them are looking at even the danger of even more hyper inflation when we're already seeing now but a lot of like the fed the government still making these moves toward i want to ask you which country do you think is best positioned during this pandemic to to recover quickly more quickly and even better and sooner i guess you could ask.

i could have an answer of this and the united states is the best country that's going to recover i mean we were in reasonable wroth although we were in the early stages of a recession we still have the greatest opportunity to grow and we're going to we're going to come out of this just fine and when it's all said and done we'll get back on pace again we've still got this recession to deal with however it's being forced to be quicker based on the coronavirus so a lot of these things get shaken out but the stimulus is not going to stimulate the economy but it is going to keep people off the unemployment rolls if they can borrow the money and it will continue to keep grocery stores in amazon and countries like that selling goods so i guess. it's ugly it's a bad situation it will get better and we are by far the best equipped to move forward once it's over when the problem is that once it's over even dr fox he said on monday that there will be a new normal that there will no it will never be the same essentially but todd

there is hope on optimism and optimism that the curve is as potentially starting to flatten but the real challenge begins once we reopen the economy markets right which is the cleanup and the rebuilding after the fact what lasting changes do you expect to see after this pandemic is actually passed. i mean 1st of all of you do you treat this like a war which is kind of what it is we will grow we will grow quickly and strong companies will survive and make a lot of money but i think the biggest problems are going to see is getting back into theaters concerts sports venues you know there's a lot of employees there that their whole lives depend on working in those venues and those venues are not going to come back for months of not year or year i mean we're not going to see full house stadiums with 60000 or 100000 people there so that's the 1st thing we're going to see and the lack of people going to rust runs crowded bars those are going to be a long time in coming before we get people to go back there because we're going to

still keep our social business and until we have a solid vaccine and we have a better understanding of what this is which is probably no more than the flu once it's figured out is that we'll get back to normal but until then it's going to be very cautious and proceed with caution and i think all the venues are going to proceed with caution as well which means that we're not coming back quite so fast when it comes to the big thing and even once they open the not so big things restaurants well even traveling getting on a plane that does somebody want to sit that close to someone when you're stuck in the middle seat for over 6 hours of during a flight but jeffrey i want to ask you this now the fed is moving and saying that they're going to announce. announce more details of. the s.b.a. loans a small business loans administration loans the new term technically the finance arrangements for a long under that p.p.p. program right now these loans are essentially they're there when they're giving back to banks with cash but they're the central bank now what do we expect them to

announce later this week. look here's the irony of this for 10 years the regulators have been telling banks be more careful be more cautious do your deal do due diligence don't be throwing money good money after bad and so on and so now the regulators are expecting banks to ramp up loan applications from you know a sow's on a month to a 1000000 a month it's not going to happen they can bribe or stamp this stuff but they also run a real risk that once this economy reopens the regulator is going to come after the banks in the banks again for being reckless just like they did in 200-2008 so this is not the banks are not going to be just ready to go along with this and ultimately the liability is borne by the banks both in terms of the financial liability and the regulatory liabilities so you can't just like convert a regime from being extremely strict to being outrageously liberal overnight

because a few politicians want it so i don't you know washington can order these things the fed can order these things but ultimately it comes down to the local banker and their risk portfolios and what it will and to accept and essentially it's a loan on top of the law where the u.s. central bank is getting involved in helping these banks so that they are still able to lend to these other companies for a higher interest rate so they're not losing but that's all the time we have today gentlemen jeffrey tucker editorial director with the american institute for economic research and todd horwitz from of the trading thank you so much. time now for a quick break but hang here because when we return we'll tell you the lengths amazon is willing to go at $24.00 social distancing for their employees plus we work we were filed a lawsuit claiming softbank is dropping out of a $1000000000.00 deal now to go to break here the numbers at the close.

what is the difference between embarrassing gaffes and elder abuse joe biden certainly excels at the former and maybe is the victim of the latter we're told dimension of mental health is off limits to what degree is the public the right to know. is your media a reflection of reality. in a world transformed. what will make you feel safe from. isolation

or community. are you going the right way or are you being led some. direct. what is truth what is faith. in the world corrupted you need to descend. to join us in the depths. or a maybe in the shallows. in this community there are people who believe that it's ok. it's really hard there are no jobs and you see that i've got kids. and as a parent. i can come up with an argument there's a lot of conflict in the game between the cost of the conflict i would say revolves around money and money has made. us want to know the children. each other

is good the state of california makes 6000000000 dollars a year of prison complex and you get someone in your life where. you don't care anymore nobody cares about your so you care marty anything. more problems for amazon as a company is reportedly now warning employees that they could be fired for violating social distancing rules now amazon has reportedly ordered workers at warehouses across the country to stay 6 feet away from their colleagues among other protective measures in order to limit the spread of the coronavirus the facilities that make up amazon's vast logistics networks vary in size and headcount depending on their function some fulfillments others are the size of 26 football fields and

employ thousands of workers making it challenging for amazon to ensure these social distancing rules but is there more to the story well joining us now to go deeper into the thicket of reporter and boom bust co-host ben swan ben why is amazon taking the step right now. well look amazon would say that they're doing this because they need to protect their workers and look out for them in terms of covert 19 and prevent it spread right by instituting really by an incredible use of force social distancing guidelines they're not even rules they refer to them as rules are not rules or guidelines but amazon says if you violate them will fire you but the real reason i think amazon is doing this remember sarah is that it was just what last week that we saw amazon make headlines for firing a warehouse worker in stanton island new york as it was chris smalls and chris mauls remember this this guy organized a walkout saying that amazon was not protecting workers amazon fired him and then said oh it had nothing to do with that that walkout that he organized even though

they fired him the same day they say it was because he was violating the social distancing rules and read to you the statement that amazon has made about this they said quote we had some instances of employees intentionally violating our clear guidelines on social distancing at our sites which in danger is what the individual and their colleagues we are taking intends measures to ensure the health and safety of employees across our sites who are performing in the central role role for their communities during this crisis what this looks like to me is that amazon messed up by firing this guy the same day who organized that walkout they said they did it for that reason and now they're trying to play a game that we would refer to as see why a in order to say no no it's not just him we do this with many people so now they're trying to make up for some of their mistakes that they made last week even not reporting when i remember we discussed a ban on employees that were infected with the virus but one of the concerns being voiced by these employees is that while there are these rules being put on the warehouse workers there's also concern that they will not be equally applied to

that warehouse manager is that true yeah no that's that's one of the major concerns here because it seems like these rules are being focused on warehouse workers in fact some of the statements coming from ems on a kind of strange saying things like we saw people gathering around a water. cooler at one point to talk to each other and they weren't 6 feet apart and those people would essentially be eligible to be fired under this guideline but there's no rules about managers approaching people talking to and then again sorry you made a really good point there and i don't want viewers to miss it amazon is the same company that has had 10 different sites where house sites where people have tested positive for covert 1000 they have coronavirus and the employees at those sites were not notified notified by amazon nor were they notified by a manager they found out because of facebook posts they found out because of local news reports so amazon has not been forthcoming with employees and for them to now turn around and say we are so concerned with protecting them ploys that will fire you if you get too close to another employee this thing just stinks it smells like

an attempt to again cover up the fact that they fired some employees for organizing and walking out and so they're trying to protect themselves by saying you know it wasn't an isolated case and maybe it's also being done to prevent other workers from organizing in the near future if that's the case they should be fair across the board and also apply to managers and everyone working there will be one of the best co-host and investigative reporter thank you for your time sir thanks. for the trouble of coal working at start up we work is suing the companies largest investor softbank for withdrawing its $3000000000.00 tender offer a legal journalist molly barrows contributor with america's lawyer joins us now with more on the lawsuit softbank controls we work now molly what is the basis of we works claim here. i don't know that they really have much of a legal standing i mean that's just my opinion clearly they think they do they filed this lawsuit but basically the gist of it is hey you backed out you violated

our contract and you know i think we worked our rather soft banks position is that we don't want to dig ourselves into a hole any deeper than we already are it was already a mistake i think the c.e.o. of the tech giant out of japan was saying to even attempt and vest. originally $9000000000.00 so this $3000000000.00 was going to go towards if that had gone through towards shareholders itself paying employees and some of the money was also going to go to buy back shares from the founder and former c.e.o. adam newman who has certainly been the center of controversy but basically soft bank said they're pulling out because of civil and other criminal investigations into the company and for a variety of other reasons but that was the reason where we work said we're not buying it you should have done the and here we are well what damages is the company actually seeking i mean what happened to we were going forward. yes and so i think that is the big question isn't it they were the darling of wall street now they're

pariah because the business has continued to fail and basically again the c.e.o. of soft bank said that he felt like he put too much trust in the entrepreneur of the founder adam newman who started this because that's what this investigation is about you know well that answer your other question they do want to can but they want the deal to go through that's what they're asking for because they need it they need it to restructure their debt and what will happen is that bank has remained committed to this company they've already poured 5000000000 to help them with their debt as it is they said customers employees are going to notice a difference we work a saying that our smaller shareholders 'd will because this by backing out of the deal they're not going to have liquidity for those smaller shareholders but basically adam newman is the focus of some of these criminal investigations at least by the a.g. of new york the attorney general's office who are self dealing buying properties and renting them back to work he also plan to charge them $6000000.00 because they were going to rebrand the company to a different name and he wanted to charge for that name the use of that name so it

looks as if adam newman was part of the concern that softbank had even though he's no longer heading up that ship if you will they're going to keep the money that they've invested they said again customers employees won't notice a difference but it looks certainly like they are backing out of this deal sarah and i don't think what works threat of a lawsuit is really going to affect them they said it wouldn't especially now during these times or in the pandemic i mean it's affecting a lot of a lot of companies but we work is one of them as well it but it still seems to be receiving a vision fun like you mentioned from softbank of millions of dollars for aids so just because they withdrew is doesn't mean that they're not still helping the company but will see where where i am far this lawsuit will go molly barrows contributor with america's lawyer thank you so much for your time. thanks farah. showing an ounce to plans to launch a 2nd unmanned test flight of its c s t $100.00 starliner crew ferry ship now this comes after the initial flight last year encountered software glitches that prevented the capsule from reaching

international airspace boeing said the mission will allow the company to complete all flight test objectives and evaluate the performance of the 2nd starliner vehicle at no cost to the taxpayer adding we will then proceed to the tremendous responsibility and privilege of flying astronauts to the international space station now going said that it will pay for the reef flight and set aside $410000000.00 earlier this year for that the starliner is part of nasa as commercial crew program to allow nasa astronauts to reach space from american soil now that fly is expected to take place later this year in the fall possibly in october or november well that's it for this time but you can catch boom bust on demand on the brand new portable t.v. up available on smartphones through google play on the apple app store by searching portable t.v. or stream us to your t.v. by downloading the portable t.v. up on apple t.v. and online a portable da t.v. and as always check us out on you tube dot com slash boom bust r.t. see you next time.

what is the difference between embarrassing and elder abuse joe biden certainly excels at the former and maybe is the victim of the latter. we are told dimension of mental health is off limits to what degree is the public the right to know. i don't trust medical authority at all ever and the reason for that is i had

this horrible autoimmune disorder growing up and it turns out it was completely alleviated with very drastic dietary measures and i went to a number of doctors to discuss what happened to me and i was basically laughed at like diet has nothing to do with our meanest orders so my suggestion to people who have health issues they can't figure out if they're going to see a medical professional and they've been going for 10 years and they're still in the same place they should probably take it upon themselves to start testing things out testing out diet testing out exercise and try and figure out things on their own. welcome to in contact today we discuss the death of our constitutional democracy would stall or spawn assassinations presidential assassination which by the way

also violated an executive order which prohibits presidential exist as estimations 12 triple 3 they continue on the scale that we don't know about because the congressional oversight power has completely collapsed so these people just disappear and we never even know about them are we. if the israelis did it mossad let's read assign that to them because how many times you know people just disappear out of the we no longer see them and we know that the executive branch is inclined any time you're in warfare all that history going back 100 years or more is the executive branch lies lies lies the u.s.'s me mexican american war you listen. greer gulf of tonkin resolution every time we know they're probably lying about this. bruce fein a former senior official in department of justice and a constitutional scholar has identified 12 impeachable offenses committed by donald

trump but as he notes many of these constitutional violations are not unique to the trumpet ministration they have been normalized by democratic and republican administrations these longstanding violations for this reason were ignored by the democratic party leaders seeking to impeach the president they chose to focus exclusively on trump's attempt to get the ukrainian president to open an investigation of joe biden and his son hunter in exchange for $400000000.00 in u.s. military aid and a visit by the ukrainian leader to the white house ignoring these institutional violations during the impeachment inquiry fine argues legitimates them and accelerates the death of our democracy joining me in the studio in washington to discuss the multiple failures of the impeachment process is bruce fein so as this was beginning. you and louis attorney ralph nader sent

a letter to nancy pelosi. and you warned that trump is right shattering our entire constitutional order and you list the most serious constitutional violations we're going to go through them 12 of them and yet despite your emphatic warning the democratic party chose to prosecute or attempt to impeach trump. you know the most trivial offenses and i now that we finish the impeachment process essential as you had pointed out what we have done is normalize these agree just constitutional violations but talk. about the the danger that i think you correctly you know raced well 1st chris i want to elaborate having been up in those congressional courters of power well the issue is how serious charges to launch.