whew hew. this is boom bust the one business show you can't afford to miss. in washington coming up oil markets try to stabilize the head of an upcoming meeting between some of the world's largest oil producer is looking to put a stop to plunging prices how much hope actions have slowed down coronavirus and actions well talk to our panel about reopening the economy and when that could actually happen the grocery store that may be stocked but countries across the world especially spain are worried about what will happen to growing crops and the

need for migrant workers we have a show for you today so let's go and dive right in. and we begin with our daily chrono virus update the global pandemic now nearly 87000 deaths and more than 1400000 and factions on tuesday president trump the world health organization even threatened to withhold funding from the institution he said the organization is very china centric. w.h.o. that's world health organization. receives their surveillance of money from the united states. and. we pay for a majority the biggest portion of their money. and they actually criticized and disagreed with my travel ban at the time i did it and they were wrong they've been

wrong about a lot of things. and then a lot of information early on they didn't want to do very they seem to be very china centric. and we have to look into that so we're going to look into it we chinese foreign ministry responded to trump's comments by defending the united nations health agency. china will as always firmly support the work of the w.h.o. and support the w.h.o. to continue to play a leading role in global cooperation in the fight against the epidemic amid the current debate demick the united states has indicated that it will suspend funds today you know this will have a negative impact on international cooperation in fighting the epidemic we hope that all countries will hope and support each other and jointly contribute to the global fight against the epidemic. now let's take a look at some of the numbers here a global level the united states it remains a country with the largest number of confirmed cases with 404000 the death toll now

at nearly 14000 and even though experts are now saying that the model is changing and it predicts even fewer extreme cases the death toll is expected to reach about 82000 by august another hot spot which is italy which of also the 2nd largest number of deaths with more than 17000 and yearly 140000 cases spain just behind italy as the country's crisis has accelerated even with a lower number of new infections space spain's the death toll actually surpassed the $14500.00 now let's look at some of the world's safe for a spot well that's for now at least while taiwan a country. he so close to china has managed to control the spread of the coven 19 the island just east of the mainland has some experience in dealing with these sort of crises given that it was among the worst hit territories during the sars outbreak in 2003 taiwan has just under $400.00 cases and vietnam has under $300.00

cases and some south american countries argentina colombia and venezuela all reported hundreds of cases each now over to the united states where new york it's still the country's up a center now although the state is reporting fewer new cases it did see a surge in its death toll with the biggest jump on tuesday since the start of the outbreak the state's death toll now at nearly $5500.00 and michigan and illinois also hotspots in the united states it could they could eventually become the next epicenters louisiana where 26 percent of all tests have come back positive has more than 16000 confirmed cases and finally let's look at some states with some lower spread of the virus starting with wyoming with just over 200 cases new mexico has less than 1000 and west virginia which was one of the last states to even report a single case has nearly 500 infections well governors across the united states are actually seeing a possible lot of this curve that's in the latest data but for more numbers and

information on the coronavirus be sure to check our our portable dot tv app and look for the section tracking coronavirus but for market analysis and impact that we continue to see we'll bring in the best co-host christine christine how are the markets today. well sarah world equity markets move higher as or oil prices stabilize on wednesday right ahead of the meeting between russia and saudi arabia in the hope that there was soon be a resolution to the month long price war the b.t.i. stars as much as 12 percent in the last hour of trading leaving the rest of the in the keys about 3 percent the 2 oil giant producers have agreed to deep cuts but only if the us and several others join in with the curbs in order to help prop up prices however in an attempt to have its cake and eat to the us responded that the us output had already fallen by 2000000 barrels per day without any government action and it will not intervene into the private market obviously that didn't fly as russia responded that market driven declines in oil should not be considered as

cut intended to stabilize the market they said that quote these cuts are completely different cuts it's like comparing a length and wit so there's a lot of expectation and optimism leading into the call thursday which will be followed by g 20 energy ministers meeting on friday where countries are called upon to lead a coordinated action in order to stabilize oil and the stocks pressured by the corona virus outbreak led the market higher today with airlines gaining about 4 percent and casino names advancing 3 percent many investors believe that we're still in the early innings of downward e.t.s. emissions market conditions can remain choppy for the next few months the demi tail also published a piece wednesday where it doesn't see a recovery in global trade until 2021 and we've lived an age of globalization and trade for more than a decade now but that has quickly ended the pen demick has exposed the false promises and realities of these quote international alliances and supply chains so as trade barriers come up supply chains were broken and every single country is

obsessed with how to ban certain exports and hoard protective equipment and ventilate baiters for their own citizens the u.s. banned companies like 3 m. the maker of asks from overseas sales india and her band exports of hydroxy couric when which has been touted by president trump as being effective and battle battling coben one team though the latter has since been relaxed after come threatened with retaliation. protectionism is the new way that acetylene as travel and tourism are going to be highly monitor going forward the expects trade to fall between 13 and 32 percent in 2020 as a means for international cooperation for sustain inclusive recovery but the big question remains who is listening and who will need the international cooperative efforts who must co-host christi i thank you for that work now for more we bring in host of economic day and author of understanding socialism professor richard wolfe

and c.e.o. of transform many research tobin smith gentleman thank you for joining me today. let's start with with you tobin i want to ask you this now mcdonald's global same store sales dropped about 22 percent just in the month month of march this is a global chain that always does well even during a recession this is because of the cheap prices so when what is it is it even fair to use this as a measure of where our economy is actually heading. well you know it actually is i mean it's food it's somewhat discretionary but you know they have dried up and i will tell you all over there were other garbage in a mcdonald's on every i certainly every continent you get a lot of value for what you know you pay you know you lira or drone or drugs more or whatever and you're going to see them drop off another another 20 percent because we didn't have the lockdowns going at the time that the they reported it so i use it as a barometer of retail but you know the question is have we priced that into the

market and i think what we're seeing a little bit here is people are are taking a deep breath they're looking out 691218 months and saying man if i could buy mcdonald's for half the price it was you know $3.00 weeks ago maybe it's time to buy it maybe but i mean it does offer of more healthy options nowadays and it is expected to do a lot worse in april but we'll see if that actually what happens to the fast food chain. professor wolf let me ask you this there are some preliminary signs that infections are slowing down they have helped the market obviously officials must still have to cautiously plan on how and when they're actually going to reopen america's 22 trillion dollar economy now everyone is hopeful to get back to business as soon as possible president trump saying that hopefully it's by may now but there are a host of unanswered questions when the stay at home orders were actually billett be lifted how will people at work be monitored how are we going to limit the people

of crowding for example a theater or a stadium what do you think we'll see. well i think it pretty a lot of 2nd guessing is going on the most of it is going to be disappointing this is a very serious virus we do not know even if we didn't catch it a little early in approaching whether it will come back whether the current strange or mutate so that the very best is good and. you'll all solutions we find we are with gates almost as fast as we wind up so there's a lot of driving the market up but it's mostly on wind all speculation not grounded in any current over. science at all and used the dimension well documented. if scheme were to come back to the situation there is a series such to see big issue right now. well dr fox he

has said that things may there will be possibly a new normal he said time and time again that this could be cyclical that the solution here is a vaccine but then there are also those concerns that the vaccine may come out too quickly mutate into another type of a virus i mean we don't know if there's not enough testing but i guess i will have to to see where where this goes from here because again like you're saying there is no timeline to this but i want to ask you this professor what do you see a global trade ever getting back to previous highs i mean the u.s. china trade deal phase one was signed in and of last year but what new lessons are we learning from this as companies are going to be focused on being more local and domestic to minimize the supply chain disruptions. i think the issue is going to be very political are we going to go back to internationalism what you call it a little ization or anything else or it is what the trumpet ministration has initiated a really nationalist turn in richard's every country for

a salad and everything but he glacial chips that they can't manipulate for their own advantage he is also world wars and wanted to get their commitment that we did have the international order to destroy our stuff if we go back or nationalism now they don't sense all bets are off all supply chains have to be reorganized the tension and difficulties which may be difficult to solve a should a going to be difficult if we have the kind of come to the station that is represented by the direction taken by mr drop out tobin i want to get one last question for you have we actually reached a peak of this optimism that seems to be going on right now as coronavirus seems to be flattening a little bit as we've seen in the last couple of days with the new york city what's going on here. well remember markets look forward and they typically look forward 12 to 18 months what happens in this recession that we have in this bear market is

that nobody was willing to look out for a while 12 to 18 months because no one literally had any we're going to idea about what is going to look like we're starting to get some contours of what it's going to look like and i my advice to your viewers always is as an investor is pretend you're in a time machine close your eyes and now you're in the spring of next year what companies are going to be thriving and what companies are not this is where stock picking actually works quite well we we work of this letter subscribers and run money and i will tell you we've made a ridiculous amount of money in the last 23 weeks by not panicking and by buying things that are 90 percent off sale that if you close your eyes and think a year and a half they're going to be right back to where they were so panic never get makes any money panic just lose your body and what we saw in that you know 35 percent drop off in essentially 6 trading days that was pure panic that was for selling that was margin calls i was every horrible thing that could ever happen out of esther and now people are excelling

a little bit remember new york city's the center of all this and all the bad stuff was happening in new york city and and in new jersey where all the traders live so there was a lot of emotion panic that cause that now the dust is settling a little bit and now we have to look out to next year because if you look at the next tomorrow i could be able to make a good decision well they're trying to look like president travis trying to look for the next month right i mean he extended the lockdown till at least april 30th at 1st it was nationally only 15 days and it will take some time because we know that each month the major economies spend in lock down it knocks about 2 percent of their annual growth this is according to c.d.c. which is they have the global markets have seen the largest biggest monthly drops on record so this is definitely going to affect global economies like you said maybe up to a year economics professor richard wolfe and tobin smith c.e.o. of transforming the real. search thank you so much for your time. time now for a quick break but hang here because when we return virtual meet up company doom is

back in the spotlight and this time in court over claims that the company overstated just how secure the software actually is and as we go to break here the numbers of the flow. 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 are told mention 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 there isn't for that as 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 autoimmune disorders 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. is you'll be a reflection of reality. in the world transformed. what will make you feel safe for a. solution or community.

are you good in the right way or are you being. done to. watch is true forces. in the world corrupted you need to descend. to join us in the depths. or i'm a blue shiloh's. here on boom bust we've discussed all the many sectors that have been hit hard by the coronavirus from tack to manufacturing of goods and autos well what about the food supply chain well some say it will not be disrupted spanish farmers and fishermen are feeling some sort of impact from the covert 1000 pandemic well for more we

bring in. donna the nicht good to see you now i want to start by looking at the overall data in spain we mentioned a little bit it's just behind italy as a pretty bad situation in europe tell us more. that's right sara hugh mentioned the stat earlier and they are devastated nearly $15000.00 total deaths and almost 150000 infected just in the last 24 hours 757 people died from corona virus in spain and as the pen demick spreads the economic consequences a deepening some studies show the country loosen up to 9 percent of its g.d.p. due to coronavirus and unemployment is rapidly growing seen spain went into lockdown on march 14th a record 900000 people filed for unemployment benefits with those numbers in mind and the health care system literally been stretched to the limit the only piece of

good news would be that products are making it to supermarkets and people are being able to find the goods they need or all spain doesn't seem to be adding a problem with the supply chain then especially with their shelves are fully stocked including things like toilet paper which is like all here in the united states rate. you're right exactly i received some video footage today from a family member in spain that images show completely stock shelves included yes toilet paper and all sorts of perishables as well such as fruits. vegetables and chicken meat fish but that could actually change in the near future as farmers struggle to find the workers to harvest the fields listen spain is especially vulnerable to this crisis for many reasons one of them being that its economy heavily relies on temporary workers mainly in fields and farms now closed borders mean that a very important chunk of those workers that come from countries such as morocco

remaining or poland won't be able to work the spanish killed so farmers and specially farmers in southern spain a warnin that if they aren't able to find the work force they need some goods could end up going to waste and never make it to the shelves and this will affect not only spanish consumers but e.u. countries that heavily rely on spanish fruits and vegetables well there's there seems to be than ever the problem here of this oversupply of food in spain that won't reach your other european countries especially at such a large exporter or what is the government actually doing are they doing anything to help with this. that's a good question sara or specifically to help farmers the government is implementing a plan to allow the hiring of people even if these people are already receiving unemployment benefits migrants without the proper work permits will also be able to

work the fields in spain in addition the spanish government has announced a 200000000000 euro aid package to reduce the impact of the virus on its economy but that won't be enough and that's why the countries ask in the e.u. to issue the so-called corona boylan's we've all heard about these corona bonds what they do well actually what they do is they share their financial burden caused by 19 across all member states but of course as always in europe this is a tale of norse for. says cell phone countries such as germany or the netherlands argue against that type of mood meanwhile spanish president pedro sanchez is asked his european counterparts for solidarity and said that europe must establish a wartime economy to strengthen resistance and promote the reconstruction and recovery of europe sarah that's right that's the struggle between finance ministers at those khurana bands they can't reach a deal yet r.t.

correspondent nicholas sanchez o'donovan thank you so much. so you got. big problems for as in communications as a company is now facing a lawsuit over privacy and has been all out banned in one country well we have been closely following the story for several weeks now as you know has 1st gained much praise and then much scrutiny as millions of people and companies have turned to the life streaming service during this krone fire shutdown well now assume it's facing a lawsuit from one of its own shareholders that's right the class action lawsuit accuses a video conferencing app of overstating its privacy standards and failing to disclose that its service was not and to end encrypted well joining us now is a study that's co-host an investigative journalist and so on then we've talked about him before a few times actually just this week how big of a deal is this claim that it was privacy was overstated well i think it's a very big deal consider the fact that look before all this happened if you can remember back to a pretty coronavirus era when people using that was the whole point of using zoom

over another app like skype for instance zoom was into in encrypted that's what everyone said about it privacy was very important as ill now it turns out as as the intercept 1st reported that in fact it's not in the indian crypt it is in fact some of these calls or actually routed through china so what we know is that zoom did overstate its popular its privacy but it became increasingly popular i mean consider the fact that in december zoom had about 10000000 people using that service in march they had about 200000000 people so there's been a lot of scrutiny it's a huge increase well especially nowadays because it does hold and allow for more people to join but but then meanwhile there's taiwan's government who is now officially banned its agency from using their citing the privacy concerns and they are advising the government agencies to use it seems competitor. yeah they are they in fact there are crazy thought of this taiwan and the government of taiwan is

telling all of its state agencies to not use zoom and instead. use google or microsoft as an alternative i mean how is google and microsoft a better alternative that's how severe of the concerns are about zune communications not only against the in the in the corruption but are they routing calls to china and is that are being shared with the chinese government that's what the government of taiwan is concerned about and then there are other governments as well the australian government has told its defense ministry and all of its agencies don't use zoom for your calls and as you mentioned earlier this week new york city schools will no longer allows them to be used and that's because of the zoom bombing issue where people are able to hack into and then jump on to calls from there uninvited so there's a lot of problems here but when governments start to move away from you it's a sign that they simply do not trust that you have security features in place i mean 1st it's one thing for businesses to run away from you but now governments that's right that's the big news here out of minute left i want to ask what has all of this bad news meant for us in stock. well it's been nothing but bad i'll give

you some numbers here the company shares closed down about 7.5 percent that happened on tuesday at about $113.00 they have lost nearly a 3rd of their market value since they hit record highs in march so in march they were hitting record highs they've lost a 3rd of that value already and as governments move away and as school districts move away you should expect to see those numbers continue to drop there while i'm sure did not expect it to become as popular as it has i mean nobody could have could have foreseen or predicted that we were going to into this lockdown where they would refer to this but boom bust cohost you so much just you got to tell the truth that's right. the coronavirus is making people think outside the box and perhaps become more innovative in following new social distancing rules well you remember when china was desperate and using buckets for grocery delivery especially to high floors that is well thailand is taking innovation to a whole nother level hospitals are using the pinto robot to deliver items to

infectious patients now the battery powered motor actually includes a screen from medical staff to talk to people all keeping social distance engineers from start up companies teamed up with students at chulalongkorn university to help doctors and a country that's facing a shortage of masks and protective suits well the. none will kick out if doctors or soldiers in white uniforms we're making weapons for them our weapons could defeat the virus but they can protect doctors from the disease keeping them a distance from it the team is already working on other types of more sophisticated robots for a future use but the pinto is already making a difference well that's it for this time you can catch boom bust on the man on the brand new portable t.v. out of ala on smartphones to play on the apple app store by searching portable t.v. or stream us on your t.v. by downloading the portable t.v. on apple t.v. and online a part of the t.v. i always talk about on youtube dot com flash boom bust r.t.

. in this community there are people who believe that it's ok to sell fractions it's really hard there are no jobs and you see the kids. and as a parent. i can come up with lots of arguments there's a lot of conflict in the game between the teams most of the complaints i would say revolves around money they're most of them money is made. us want to know the children. each other is good because the state of california makes 6000000000 dollars a year of prison complex and you get some point in your life where. you don't care anymore no longer so you don't care mind anything. the world is

driven by a dream shaped by one person with those great. things . we dare to ask.

how. when i don't think this is a no fly zone considering they don't know how to manage the us i mean does. the love of the missing mom of this mean don't you think it's time a strong enough to. carry. out some emotion some. very uncertain. troops last 12 days. welcomed the baby had a fever of 380.30 we're hoping that's. ok

. papen tonio and this is america's lawyer joe biden had a strong showing last week on super tuesday and nobody was happier about this than wall street major u.s. corporations are celebrating because they know biden is going to protect them instead of consumers and they wanted bernie knocked out for that reason but the race is far from over and tonight we'll tell you what happens next also tonight the u.s. supreme court 'd has overturned a kansas decision giving states the right to primly prosecute undocking like immigrants for id theft and later in the show trump has been boasting about his new us in c a trade deal but a major loophole gives american oil and gas firms a leg up when doing business abroad don't go anywhere americans were starts right now.