and. join us in the depths. or i'm a really shallow so. this is the one business show you can't afford to miss. that you know washington coming up markets remain low as oil tries to claw back some of its recent losses and more high profile companies move toward declaring bankruptcy. to american tax giants privacy rules will explain what the west coast want. to be today so let's go and dive right in.

the coronavirus global that toll topped 182000 the number of infections at more than 2600000 director of the centers of disease control and prevention robert redfield warned a 2nd wave of the covert 19 could be much worse considering that it would likely hit next winter at the start of the flu season when the u.s. has nearly $900000.00 infections and a total death toll of more than 45000 this comes as white house. advisor dr deborah burks warned americans that to prepare for even more deaths we will continue to see mortality and among our american citizens particularly in the cities as they begin to move past because. well it turns out the 1st american lives lost a cobra 19 came earlier than originally thought will health officials in california said that tissue samples taken during autopsies showed that 2 people tested

positive for the virus just weeks before this was at the start of february on tuesday the u.s. senate approved a new $484.00 trillion $1000000000.00 stimulus package for a small businesses this while president donald trump and treasury secretary steven chu chen said they would ask some businesses who received relief funds to return them meanwhile the state of missouri is suing china for not doing enough to stop the spread of the outbreak china's foreign ministry spokesperson rejected the claim . it is purely malicious vexatious litigation which violates the basic legal principles according to the principle of southern equality in international law southern actions taken by a chinese governments at all levels in terms of epidemic prevention and control are not subject to the jurisdiction of the u.s. courts when meanwhile the food and drug administration authorized the 1st in home test kit for the coding 19 sold by lab corp the test cost 101000 dollars and it is

expected to be available to consumers in most states within weeks while mexico's health ministry confirmed a jump in the country's cases to more than $700.00 now totaling more than $9500.00 with a death toll of $857.00 and the country rejected an outright lockdown in a country where half of the population lives in poverty meanwhile sweden a country that did not impose a lockdown amid the outbreak aimed to slow the spread of the virus by allowing exposure to it so essentially they were building herd immunity while protecting the elderly the country's chief epidemiologist said herd immunity could be reached in stockholm within weeks well india is also looking to attempt this herd immunity on its younger population but for more numbers and information. on the coronavirus be sure to check out our portable da t.v. app and look for the section tracking coronavirus. a short term story in the market

remains oil or oil remains low as it led to a dow decline of over $1000.00 points in just the last 2 sessions but let's bring in much of a trip to discuss kristie we are getting a flight rebound today what's happening with oil. well the u.s. oil industry is cutting production by $900000.00 barrels a day which is the biggest one month decline since the financial crisis and analysts suspect that this might only just be the beginning and that more cuts are needed around the world as storage runs out but after 2 days and steep losses the market stage a turnaround on the back of oil as a rebound in light of the cuts the june contract is up about 20 percent today and the trumpet ministration is also considering offering federal stimulus to oil and gas producers in exchange for government ownership stakes some large in a deal that they proposed to airlines earlier this year now nothing has been finalized yet as it remains one of the several possible options however this seems to be a bit premature as capacity only has about 3 months to go before it's filled as

demand falls faster the production is declining so as reuters reported the hunt is on to find storage dozens of oil tanker vessels have been booked in recent days in order to store crude bring all for storage to a record high traders are also getting quite creative to renting and storing crude and fuel in the news railcards in northeastern u.s. or in the news pipelines so at this pace we should expect to see negative prices once again in the near term months especially as we get closer to expert and that's what we're saying yesterday that we're expect to see these negative numbers in the next month or 2 kristie we talked a little bit about the u.s. so on tuesday right the popular e.t.f. that is undergoing some massive restructuring in order to avoid this liquidation what's the latest there. well you have yes so there are very popular retail e.t.f. that tugboat said is doomed to fail we mention that yesterday and they're changing is structured yet again in order to deal with this historic mullah to lety and to keep from blowing up so as the retail trade is the inexperienced investors who got burned in this oil trade exit out of the basket us so now trying desperately to

retain investors after is pretty much 80 percent drop this year is now i think you doing a one for a reverse share split that will go into effect after a close on april 28th now this is by all means entirely cosmetic dressing not really improving any of its fundamental as it's trying to avoid additional losses this is really unfortunate because it was designed to attract the casual investor who really doesn't understand the complexities of the futures market and so as a result it basically suckered in more than $5000000000.00 in assets from these retail investors and basically made a prize all that value in about a week many have now dubbed the retail killer most certainly a very complex issue especially if you're not familiar with it thank you for that explanation kristie but for more we want to bring in a shawn hyman of the logical investor shawn thank you for being with us today we're starting to see some high profile companies move toward bankruptcy we saw victoria secret's 24 hour fitness at neiman marcus at cetera but the real story is really

the hundreds of thousands of small businesses that are suffering the restaurant industry which is largely independent employees employs about $11000000.00 workers and about a 3rd of aren't going to reopen again are we underestimating how severe this downturn will be because even as lockdowns get left and many of these jobs are gone for good. yeah absolutely some of those jobs won't come back some of the jobs there won't be demand for because the the demand from the customer side will be listening you know restaurants maybe you've got to pull out some tables in your restaurant and maybe only fill half of the capacity that you could before things of that sort some people who could go to restaurants movie theaters whatever maybe they do maybe they don't so there's you know even once you kind of flip the switch and allow the economy to come back it's still going to be tepid probably it at 1st to what it should be and some of these jobs won't come back and then there's the spillover effect from those who you know they waltzer their incomes what they would have

spent on you know further affixed other people in the job losses there so it's kind of a domino effect there especially like you're saying if these jobs don't come back i mean 11000000 people that's a lot of workers but seana earnings week continues as we are continuing to get more data points on just how the economy is actually doing we have some big homebuilders reporting today as well as casino giant las vegas fans what are we hearing out what are we hearing out of them. so it's been kind of mixed but i would say this discord really report the problem with that is earlier on in the quarter you know all these homebuilders and casinos you know were do it would doing better and then the coronavirus of course is affected or more in the latter part of the quarter so it is going to be a muddy reporting i think more importantly we're going forward i think it's going to possibly be worse for them than it was in the past just due to coronavirus and the effects of it so i think all these casino stocks and all the homebuilders still have another leg down to go in their stock prices and i think they're going to look in there once for a little longer before things really truly get back up to speed well as speaking of

casinos we know nevada is home at last vegas to several casinos reno as well i do want to ask you this nevada mayor wants to reopen businesses sooner rather than later there's talk of steve one who said they wanted when casinos to open by mid may now we know casinos are filled with germs do you see this happening. it could happen but but even still it's like what you know you're probably going to have to unplug every 2 you know one or bandit so to speak you know between so that you've got people staggered in and maybe only open up so many card tables and things like that where you've still got some sort of social distancing around so even then when they you know ramp back up it's still going to be to compared to full swing what they could normally do in regular time so it's still going to affect them for a pretty good bit well kristie i want to turn it over to you the markets also getting a little bit of a boost on talks of the stimulus what should we expect there well on wednesday we had the 484000000000

a relief package passed and focused on small businesses hospitals and testing now is moving over to the house for approval hopefully by thursday so while this was about another 350000000000 dollars into the programs in order to help keep small businesses afloat more than 22000000 americans are still filing for unemployment already and as you just mentioned with casinos that's not expected pick up because you know if they reopen who do you expect to go attend these casinos most of them are primarily driven by mass market traffic and right now with unemployment so high i mean really just picking up at this point so this stimulus package is basically just a band-aid it's a little too little too late and fails to address other immediate problems such as a collapsing state budgets now part 2 of the cares package is really going to be where the meat is and that's going to be forth hackers that will potentially include more direct payments potentially can extend unemployment insurance and now there's also this talk of an infrastructure bill which is the kind of recovery component of the entire relief bill that will be focused on rebuilding and getting jobs back to the people well and that's

a huge problem there with small businesses who aren't seeing a lot of these loans where are president trump and and treasury secretary minucci now going to be asking these businesses to return those funds so interesting how this is all really playing out now kristie i must co-host and large of logical investor thank you both for your time. thank you thank you. only days after apple and google announced a landmark agreement to work together to create a contact tracing out for the corona virus one country is already asking the companies to go further in terms of violating privacy of users with that country france has become the 1st country to call publicly for the tech giants to weaken up privacy protections around digital content tracing this after its government admitted that its current plans wouldn't work without changes to smartphone operating systems will france's digital minister see jericho told bloomberg news that we're asking apple to lift the technical hurdle to allow us to develop a sovereign european health solution that will be tied our health system with

joining us now to discuss is being with co-host to journalists sense one then a lot of privacy that we've been talking about lately but let's start with the technical part what specifically is france saying that that apple really needs to do here. yes so essentially what france is saying is that right now when you use a con trick of the contact tracing app that francis trying to use the problem is if you have an i phone and you have that app on and then you switch to something else so now you move over to your instagram or you go to facebook or you just turn off the phone all of a sudden the app stops running it stops tracing it was subsoil though we knew that's part of apple's operating system currently and so what france are saying is hey apple what we need you to do is we need you to change your operating system for us so that this contact tracing app and tracking app can actually track the user when their phone is off it can track the user when they're on some other kind of application where they're not actively using it essentially turning your phone into

247 surveillance that is what france is asking apple to do so let's try if everybody at all times right well randy wants to decoy by may 11th that's just around the corner without using the special measures that apple and google have put in place why is this such a problem for apple and google to just conform to what france is offering and do it well a couple of problems number one remember that when apple google announced that they would be doing this the very 1st thing they said about it was they said it would be an opt in program only so if you want this app on your phone when you download it on your phone if you want to opt in the information then you opt in you are not required to be a part of this what essentially france is saying is don't make it opt in they wanted on every smartphone in france they want everyone to be required to have it if you have an apple or google phone well that's a problem the other problem is is that whatever apple does and google does in one country they have to do it in every country you can't just isolate the phones in one country for your operating system and say this is the french operating system

and so you can't just say well we're going to go ahead and violate privacy laws that would be a violation in other countries just because france is telling you to do it here lastly what's really interesting about this sarah is that france is the country that keeps wanting to levy higher taxes agh. well against google because they say that those companies are violating user privacy and remember the e.u. keeps finding google and facebook for violating user privacy so why all of a sudden do they no no longer think user privacy is important pretty ironic especially like you said they've been fined not only by france but other members of the european union as well and still sometimes facing some some investigations right i mean google and apple really just who knows how to work this out but a little bit ironic here talking about privacy again with whom both co-hosts pence one thank you for that report. surfing's. time now for a quick break but hang here because when we return we'll take a look at the state of the global economy with professor richard wolf and what

a potential you shaped recovery could look like as we go to break here the numbers up above. you're sitting somewhere i. guess let's see i guess. i was on the floor some things in my basket and you know trying praying. yes it's time for us to die worms i was having chilling fever i didn't have any sense of ceaseless now from the most you know the words world would you.

recently she was under the old you to. comedy song. by her didn't. push myself to the full me in the 5 am local time. people are really remarking that 2020 is a mirror image of 2008 it's the exact same problem banks over leverage blew themselves up and are now demanding a bailout at the point of a gun from the fed and other central banks and except this time the dislocation in the economy combined with the coronavirus is so great that we've tripped over into medieval ism that's how messed up this.

is a story about what happens austria stray bullets kills a young girl in the streets. what happens to her family and daughters in florida you know the mother daughter is buried in a cement terry it really messes with your head what happens to the community the public was screaming for a scapegoat the police needed a scapegoat so why not choose a 19 year old black kid with a criminal record who better to pin this on than him and what happens in court. the . shock shock is far more. to do. we don't know childress is truthful. and to destroy unfortunately you truly will still not know chil just.

seemed wrong. just don't hold. any belief yet to shape out these days to come after. and in again from an equal betrayal. when so many find themselves worlds apart we choose to look for common ground. the corona virus pandemic has impacted all countries around the world both rich and even developed all the world has been completely disrupted with global shutdowns as some countries begin to cautiously ease their restrictions with so much information

of the 1900 still unknown it's nearly impossible to project the recovery time well the international monetary fund predicted that the global economy could shrink by 3 percent and that full recovery won't be reached until the end of 2021 well joining us now is host of economic update and author of understanding socialism professor richard wolffe professor thank you for joining us today let's start with this question what might happen economically if more data shows and comes out that it shows there's a lower than expected death rate from the coronavirus. well frankly at this point the uncertainties and the confused information is so global in scope that i don't think there isn't any way to to answer any of this kind of question there are lots of theories that the virus could come in waves which means we won't be out of the woods friday definitely that time the economic breakdown is now so complicated in a world that has more on supply chains than we've ever seen before

a greater level of indebtedness linking economies that these kinds of predictions they're really not possible and it isn't all that helpful for people to start doing that because it implies a level of knowledge and control that i wish we had but i'm on this the telling you we don't extremely complicated situation as you said professor because a lot still remains unknown but economists are speculating a that the u.s. will likely see a u. shaped recovery what will that look like in terms of effort that if it happens let's just say that it does recover and you term shape what happens to local businesses and general unemployment numbers how long could this bottom of a year potentially last. that's always the question you know the idea of a u. shape was developed because people understood that up until then we had talked

about a v. shaped in which the economy tumbles down and then quickly comes back or the famous or infamous ill shape when it goes down and never comes back while somewhere between those 2 extremes is the us yeah but the usual doesn't tell you how long the little part of it the bottom of the you will last and there again i hate to frustrate folks but there really is no way to know the one thing we can be sure of is that the longer this lasts the more difficult. will be put to the league for small businesses to recover even if they get along all right even if they never help with the payroll we are talking about a situation that is crumbling this system in part because nobody particularly the government is doing anything during the day time to build the basis for a recovery and that in the long run is the biggest criticism of what's happened

well professor let's look at some numbers here out china's economy shrank by fixed point 8 percent in the 1st quarter right this is the all time worst record could this be shedding some light on what the rest of the economies of throughout the world are going to look like. yes because the chinese had in general been ahead of the curve here on managing the coal did randy gene the shut down locked down in rule on managing the the minimal zation of the spreads to the rest of the country given all of that and given that the crisis hit there well for the world economy stopped why from china 0 situation is probably something better than what we can expect here in the united states and in western europe and a cut of 6 percent in china even if we don't do worse than that in the west is

still an economic crunch on a scale that the only comparable thing and this is what we have to face is the great depression of the 1930 s. that's what we're looking at and let's remember that started in october of 1929 and wasn't really old merc until 1941 a good 112118 half years on the fact that oil is also crumbling if not helping anyone markets there's a lot playing and to the economy right now the coven 19 just because we don't have a lot of information yet we thought to follow where this goes and not only hope for the best and that's how we can really do for now but professor richard wolfe thank you so much for your your insight your and put on your expertise. thank you very much and later thank you. as the world at work to fight against the pandemic caused by copa 19 world leaders are also honing in on local economies but the path to

resurgence may not be an easy one all this while the u.s. and parts of europe are scrutinizing china they're saying that their technology is not for sale r t correspondent. with the details natasha. yes there are you know countries like germany and sweden and they say that they're concerned companies weakened by this pandemic will be an easy target for china and so now there is a heightened alert going on and some are saying that china is on the hunt for bargains well germany and other governments are looking to secure their home corporations worried by a possible economic attack by china germany's cabinet approving legislation making it easier for authorities to prevent foreign takeovers of strategically important companies. in germany in europe we must be able to better guarantee our supply in important sectors which is why we will decide very promptly in the federal government on how we can bring the production of medical equipment

more strongly back to europe and to germany. spain italy and australia echoing those same concerns spanish prime minister pager sanchez saying quote we are going to block foreign companies from taking control of strategic spanish companies by taking advantage of these share price collapse well china has already made heavy investments in italy after the united kingdom and germany italy is one of the top percipient of chinese foreign direct investments in 2019 the chinese investment in italy reach 17400000000 since the year 2000 with the peak of the investment in 20142015 australia's home affairs minister saying he thinks there will be a reset about how the world interacts with china we do want more. transparency china can have their economy grow to lift people out of poverty that's a wonderful thing but when you've got a communist party that doesn't have the transparency that other comparable economies have then that is a problem and when you see their involvement in foreign interference when you see

their involvement in saw all of these aspects need to think be looked at again. as china ships medical supplies to other countries sweden's foreign minister says while she walked into the gesture she believes there are intentions behind the generosity at the same time you should not be then say that there is snow in the political. which you are doing and i also think that the d.c.c. the countries are you seeing dependent to move forward with their own political agendas and i think in china it happens in many other countries. british lawmakers say the government should prevent the removal of tech giants imagination technologies to china john sawers the former chief of britain's secret intelligence service emphasizing those same concerns that leaders in india are also aware the country's economic slowdown has weakened home grown corporations and now

the ministry of commerce said saturday that any entity based in or tied to a country which shares a border with india would need government approval before investing in any indian company and now many countries say that they're being so vigilant in protecting their entities because of what happened during that she 10082009 recession now during that financial crisis we know that china did heavily in vast in the west however it wasn't as lucrative for china as maybe they thought because many companies still did end up going under reporting for boom bust and tweets are tea. party correspondent cautious we thank you but that's the time when you can catch boom bust on the man on the brand new portable t.v. available on smartphones through google play and the hour. by searching portable t.v. or stream us by your t.v. by downloading the portable t.v. app on apple t.v. and online as part of all that he has always checked out on you tube dot com slash boom bust r.t. and it will feel like time. something

never existed but on a change on the stand could you a little spot that send me a and but your one click associated with nothing to do and that i desired to know.

what i told of the. local just to make money that i was going to dump she still. does it was still up goes up so. do some will push. me to show. you but it's not just on thoughts the most and you will know more than a little nook so the student will stop it reach through to the shit list you. want to just. thank. you for me.

that. thank. god. i'm back stars or you know are still on lockdown then it's fantastic to tell you the truth. reconnected with my inner. peace and. i just feel great stacie well you're looking very town that's because we spend all of our days at corona beach during the sunshine and i have been noticing that all is not so great out there in the land of pandemic because there is that everything by.