so join us in the depths. or remake of the shallows. this is boom bust the one business show you can't afford to miss. in washington coming up the u.s. treasury department says it will need to borrow nearly trillion dollars in just a few months raising questions about what this could mean long term and a number of groups lines across the globe are facing criminal investigations will prosecutors claim money set sail without fully disclosing the risk involved we have a packed show for you today so let's go and dive right it.

as of tuesday global deaths from coronavirus top 254000 the number of cases stand more than 3600000 a vaccine possibly and play now as u.s. based company pfizer is working with german drug maker biotech and said they've already started delivering doses of their experimental vaccine here in the united states will if the vaccine proves to be safe and effective it could be ready for us distribution by the end of the year well this comes as we reported yesterday the trumpet ministration is predicting a continuous surge in new cases based on a new model where up to 3000 daily deaths will occur by june 1st the white house now predicting a death toll of 134000 this is nearly double its previous estimate well the trumpet ministration is now. reportedly looking to phase out the white house's krone task

force and turning it over to pandemic response agencies by early june meanwhile more countries around the world are easing restrictions this includes hong kong which announced plans to relax social distancing measures and even to allow schools to reopen in phases. he joined holyoke to hong kong last locally transmitted a case which the origin could not be traced it was dated back to april 19th while you're after consulting the opinions of health experts now is the right time to relax some social distancing measures which are considering the development of the spread of the virus preparations of schools and supply of masks and the hong kong government has decided to resume schools for $27.00. while the sports world has stopped due to the pandemic but south korea's baseball team or their season that is started on tuesday behind closed doors and without fans will some supporters joined the team at teleconferences the south korean baseball organization said it would

gradually open games for public access all depending on where the coronavirus situation stands on tuesday leaders from new zealand and australia met via video link to discuss efforts to resume travel between the 2 countries they have closed their borders to all non citizens for more than a month now. the prime minister no i have doing now for several weeks been talking about our travels between australia and new zealand it is still some time away but it is important to flag it because it is part of the ride back at some point both destroy your new zealand will start connecting with the rest of the world with you and the most obvious place for that stuff is between australia and new zealand and we could see that happening but it's not something that's about to happen next week or anything like that meanwhile france confirmed its 1st coronavirus case may have been back in december french doctors reported the virus could have been around about a month before the outbreak officially started this is after they retested

a patient's samples now this is just over $1000.00 could have been around even earlier before anyone knew the virus was present in the country it's also follow similar instances we've seen around the world like the united states where deaths actually occurred earlier than 1st reported and on monday russia reported more than 10000 u.k. . as for the 3rd day in a row bringing its total to more than 155000 more than 1451 people have died but for more numbers and information on the coronavirus be sure to check out our portable and look for the section at trucking coronavirus. the u.s. treasury department says it plans to borrow nearly 3 trillion dollars between april and june to bankroll the federal response to the coronavirus pandemic treasury secretary steven chu and claims that the federal government was expecting a large influx of revenue between april and june from income taxes but with the tax filing date pushed back the feds need to borrow all of this as more states continue

to reopen and analysts are hoping to hear recovery get underway joining us to discuss her boobs co-hosts christy i and ben so on this is a boom bust panel chrystia let's start with you 3 trillion dollars borrowed between april and june it means that in a single quarter the government will borrow more than twice as much as it did in all of last year what does this mean for the already struggling economy as a whole. i think you hit the nail on the head right there last year when the course of 12 months they only balled 1.3 trillion and now you are spending 3 trillion only merely 3 quarters and expected to be more in the subsequent quarters so this means what this means in the interim is that right now there's going to be an influx of high value nominal bond auctions all across the board so this is going to drive the price of bonds down yields up right now and that is potentially worrying considering the amount of debt that's floating out there right now an amount of debt that has yet to be backed i mean this is hitting new records in july and september of 2000 a big borrowed 530000000000 world thing it so much more than that then there's

a huge concern about the fed's borrowing this much money especially when congress has already been passing enormous stimulus bills. you have to separate those 2 things out right it's not just the 3 trillion dollars is part of what's already has been a brute. the 2 trillion the 3 trillion the 4 trillion being printed by the fed all those trillions of dollars and now on top of that another 3 trillion dollars and by the way that's not even the in the bit because even though john also said that you know the april to june the section in which they would borrow 3 trillion he expects them to also borrow another $600000000000.00 plus between july and october of this year to continue to make up for lost revenues but as long as the fed continues to insist that it will buy up anything the treasury is that then you can expect this to continue to go on and on and on well it's a lot of trillions of hearing where you said separating christie go ahead. so

exactly a balance saying the fed and the treasury are now essentially in lockstep with each other they are hand in hand for filling this entire casino that they have been driving the market into so if you basically think of it like a casino every single time these high volume players they lose all their money they the fed steps in to back them up and put free chips on the table for them all over again so it's literally this never ending casino where the fed now officially never lets anyone fail no one is allowed to lose in this game essentially what they're saying they're giving up a lot of stimulus and trillions like we're talking about but kristie wall street main index these jumped on tuesday as a recovery and oil prices they lifted the battered energy stocks what do you expect to see beginning this or following this rather well the energy sector rebound. this was a really quick bounce in the course of 5 days so the market got a little over exuberant because all of this is pending on the fact that production is coming down and they're they're betting on

a market reopening in order to lift demand so until we actually see real numbers to see that inventory is still going to fill up there is a limited inventory capacity worldwide and so stock is continuing on to fill up so with expiration coming up in about 2 weeks we potentially might see a very sharp turn and a draw down as we approach the expiration as every. one plans to roll their future contracts so we'll see where that and whether or not these demand if demand really rises in the next couple weeks well and we're seeing a lot of impact on on the economy as more states begin to reopen then are we looking at the numbers here are they encouraging what are we seeing. well look what we're seeing in new york is governor andrew cuomo essentially saying that they're seeing fewer and fewer infections and obviously fewer deaths and so he's saying well maybe we will see the economy in new york reopen sooner than we thought but i think really what we're going to see is this you have the state of georgia where i am right now is the 1st state to have reopened a lot of stuff as of monday we now see florida following suit florida's doing the

same thing texas is doing the same thing but we're not seen or a surge so far in either infections or in deaths and by the way to the point that you made a few minutes ago which is really important you know when other countries say oh it turns out that we have the corona virus years earlier than we thought maybe a month earlier than we thought that also means something very important it means that far more people were infected than we 1st thought and we're asymptomatic so what i think we're going to see is if we don't see a big spike in corona virus caused deaths you're going to see more states hurry to get open because they're going to see other states like georgia and florida doing better fast thank you so much of them as co-host christine going to keep you around for that to talk about the airline. so it's been. a showdown is brewing between republicans and democrats in the senate they're negotiating another virus stimulus bill at issue is whether businesses should be shielded from these federal lawsuits

if their customers are workers contract cope at 19 well republicans are pushing for it while democrats say well not so fast for more we turn to legal journalist molly barrow americas lawyer molly what are republicans proposing here. well you know they're in the midst of negotiating this 3rd stimulus package and this is going to be sort of a roadblock if you will a stumbling block to get this thing going again but republicans and democrats have drawn political lines over whether or not businesses should should be shielded in fact from liability when it comes to the coronavirus as you see the country slowly start to try to get back to business again there. expecting new cases of exposure to the corona virus if somebody could potentially get sick then they could potentially hold a lot of business liable where they feel like they may have been infected or exposed to the virus so the republicans really want to do this vast almost a blanket immunity and democrats are saying hey wait one second we're not down with this we don't think it should be completely shielding people from residences rather

shielding them from accountability they should we should all be focusing instead on you know defeating this virus if you will to the bitter end doing more to address it and then focus on getting our economy back open again it's it's become a very partisan political issue here when and when lives are risks but molly what has been the reaction from democrats as well as industry groups and even insurers. yes there is a frenzy of lobbying that is happening right now whether it's insurers it's labor industries it's plaintiff's attorneys because everybody's got an opinion on this including the u.s. chamber of commerce and of course they're being quoted as saying that they are concerned that there will be opportunistic lawsuits but you know i work for my pappa tonio america's lawyer is well at the level top 20 a law firm they handle a lot of personal injury litigation and when i was telling him about this story we were talking about it and republicans efforts to shield businesses from liability his 1st statement was you know this is what they always do any time you hear the u.s. chamber of commerce come forward and say you know what we really want to limit the

public's access to hold businesses accountable he said that's essentially the same thing as saying we want to take away your rights as a citizen so that's what it does i mean yes there's a bounce you want to try between frivolous lawsuits and those that have no basis but to basically say hey you businesses you don't have to take in in defense for the republicans are saying if there's negligence or cases where they're not following proper protocol or it can be shown that they've been reckless or negligent you know in the wilfulness to address any concerns that did make somebody sick then they can be held accountable but the burden of proof just like with the bill that's moving its way through the senate and alabama the burden of proof is on the person who's bringing forth the charges as opposed to the business to say hey we did our due diligence we did clean properly these bills that are being pushed by republicans whether it's in congress or an alabama they're saying no no no we've got to put the pressure on the plaintiffs well let me ask you this where does that proposed bill in alabama where does that stand now. it has been passed by one

committee and now it's going to move forward to the full alabama senate for discussion and again it's falling along party lines as well there they they are concerned again about seeing more exposure to corona virus in the potential for liability because you already are seeing a ton of lawsuits whether it's prisoners suing you know prisoners it's people business owners and sure suing their insurance companies because they have a pandemic cause there's just a whole slew of them out there but when it comes to alabama the democrats are saying the same thing hey we need you know we don't need to put the burden on the plaintiffs to show that they've been wronged businesses need to prove that they're doing what they supposed to do what they're supposed to be doing as we reopen to keep people safe let me ask you about the at an international level now is this are we seeing the same thing happen overseas or is this is just something that we're hearing here in the united states where the lawsuit is just so easily thrown out. right and i think that it is easier in the united states to go after businesses for example a situation like this with civil cases in europe it's

a little more difficult but you are starting to see some of those cases emerge in austria for example attorneys are putting out calls to say hey if you are at certain ski resorts during this certain time then we will and you were later came down with the coronavirus or were diagnosed with it then we want to talk to you because there are some businesses that they say didn't do proper diligence by closing in time and allowed people to be exposed to the virus that made them sick and then you've also got criminal probes that are under way in italy and france looking into the leadership decisions in france as far as handling the outbreak and also in italy where certain towns were hit harder so you're seeing pockets of this but in the u.k. for example the mechanisms just aren't really in place to go after a criminal probe for example they felt like there was some sort of negligence on the part of leaders there that caused people to die or even for civil you could pursue a civil case in u.k. but the short answer is it's probably not going to get very far so what they're going to rely on if people do have concerns is probably corners inquests and just

inquiries like that official processes if you will to get to get at the truth or to get to a car and we may even see a heightened increase the numbers are possibly going to go up from here where are we seeing them now molly barrows a contributor with america's lawyer thank you so much for your time. thanks sara. time now for a quick break but hang here because when we return we're not sure there's ever been a worse time to run an airline well discuss what the future holds for the factor as we go to break here the numbers at the close. please.

read our breeder turn on the t.v. on the about the world and what's happened in the around me i see shows on the screens but in last every day because the fake news narratives that they say they are who may be cooling his clock little bit enough business with tom f. the plumber brick by brick google is to make you smile how plenty off that in this war but i found a network that old question sorry it's great it's not just a civil strife climate change savile will be cool simply lists all the mainstream wants to do was keep what's called like you watch the right you can't keep a silence critical points these cold perspective questions inside directly if we don't take sides we walk the dark arts to america of means real

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cruise lines have been pretty slow to issue refund with according to many passengers who cancelled their plans as a chronic pandemic north and worldwide well that as some of the major cruise lines continue to operate even though the virus was rapidly and dangerously spreading r.t. correspondent john harvey has more from miami as the coronavirus pandemic worsened worldwide new information shows the major cruise lines continue to operate despite the growing threat of the disease well knowing the luxury liners that continue to fill with passengers are possible incubators for the deadly virus but wall street journal reports that the cruise line industry launched voyages on more than 100 ships on or after march 4th the day of the 1st confirmed cove in 1000 death of a passenger from a cruise stopping in the u.s. a marker of the pandemics long reach and by march 13th the centers for disease

control and prevention had linked cruise passengers to 17 percent of reported coded $1000.00 cases in the u.s. at the time thousands of passengers and crewmembers worldwide were sickened and dozens of people have died since then the u.s. coast guard is now reportedly investigating whether 2 ships owned by carnival cruise lines violated federal law by not alerting authorities in san francisco in puerto rico about sick passengers on another criminal investigation is underway in australia last week a congressional committee announced it was also opening an investigation into carnivals actions both in terms of preparing for and responding to the pandemic demanding hundreds of pages of files and documents from the company the company and its subsidiaries are also the subject of numerous lawsuits filed by passengers who were exposed to the virus and family members who lost loved ones several ships with sick crew members and passengers eventually docked in miami and fort lauderdale among other ports the people being treated at local hospitals are being allowed to return to their home countries or states. in march the c.d.c.

issued a no sale order and the industry shut down. r.t. recently chartered a boat to take an exclusive look from the water at the port of miami where a line of ships remain docked while others remain anchored off shore with nowhere to go but that may be changing soon despite the ongoing investigation and the continued lawsuits and the call that 19th red carnival cruise lines said this week that it plans to resume cruises starting in august from the port of miami here behind me fort lauderdale and galveston texas the company says it plans to begin a gradual rollout with 8 ships sailing from the 3 ports to the bahamas key west and cozumel mexico carnival is already advertising deals on its website for cruises to mexico the bahamas en puerto rico and the statement the company said it's committed to supporting all public health efforts to manage the cove in 1902 ation and is consulting with experts government officials and stakeholders in developing plans to resume sailing operations the c.d.c.

says it's closely monitoring those plans and would not give a timeframe when it would be safe for the cruise lines to set sail again all this is passengers who cancel previous trips on not only carnival cruise lines but the world's other major operators including royal caribbean and holland america are still trying to get refunds carnival said more than a 1000000 passengers were impacted by the pandemic as it works to process those returns while royal caribbean and holland america said it takes on average of 45 to 60 days for those refunds to be processed there still no time frame on when the other major cruise lines will set sail again if they even do for r.t. john hardy. as we continue to discuss the many factors affected by the chronic virus us we've concentrated a great deal on global airlines will new normals well place and take place including social distancing it's hard to predict just how airlines will recover lufthansa chief camel grass or 1000 industry won't recover until 20. 2 my

prediction for this year is for airlines to operate on an average capacity of 25 to 30 percent and 2021 there will be around a 50 to 60 percent recovery in numbers well the industry has seen a 95 percent decline in traffic 2 airlines have now filed for bankruptcy well for more we're joined by editor trying to get kerry left and bringing back boom bust co-host and i'm just a journalist pence one gary let's start with you we've seen a 95 percent decline in the industry no one is traveling ryan air europe's biggest budget airline saw a 99.6 percent fall in passengers and even a smaller carrier was air sot numbers plunged 97.6 percent in just april how bad is it for these airlines. i mean i think you've made clear how bad it is the earlobes themselves will tell you that demand is 0 which is to say that up until recently they had more requests for refunds then new ticket purchases and people aren't

traveling so all of that is by design it's also out of fear or restrictions and lockdowns it's a very difficult business to be in well then u.s. airlines tumbled on monday following warren buffett's comments american delta and united dropped 12 percent while southwest dropped 8 percent this comes after his comments warren buffett. after he sold their entire states did this move surprise you. didn't surprise me too much i think it caught some people by surprise in that you know warren buffett's been been down on airlines for years he's been down on the airlines since 2007 it was only until kind of around 2015 that he started to buy up some of those stocks again so the fact that he did this i think is not terribly surprising knowing its history what is surprising is he did it after the government came in with bailout money for the airlines and he made the comment that he said i think most c.e.o.'s have done their jobs pretty well if you think most of

them done their jobs pretty well. why are you jumping out now and i think part of the reason for it is because buffett may have expected as some of the c.e.o.'s had hoped for but the government was not going to build them out with loans what was going to give them gifts was going to grant them money in order for them to stay in business that did not happen so i think that's kind of a huge part of what we're seeing on it definitely took those airlines to plunge gary meanwhile united airlines has told employees that it expects its management and even administrative ranks to be around 30 percent smaller starting in in october what do you make of this. well the airline business isn't going to recover in time soon the government bailouts require a line is not too low employees are reduce their rates of crazy until september 30th but it's clear that afterward early ones are going to be smaller than they had been in the past and united has been the most proactive from the very beginning of the pandemic of recognizing that they're going to need to be a smaller line what they're going is going to be less travel demand and so they're

also you know been the most public about the need to shrink the carrier shrink the workforce. while other airlines tell their employees that they are going to do their best to accomplish that goal through you know voluntary early retirement to voluntary leaves united and simply said you know expect that we're going to you know shed a lot of pilots should a lot of. non-union employees as well and they're going to let them know in mid july with that looks like which is. will we see then surely well the airline industry it will for sure shift bend for the foreseeable future we're going to see some changes from the way people travel now frontier for example frontier airlines has it is going to charge $39.00 to passengers who want to sit next to an open seat several airlines are already increasing their still luggage prices overseas what other airlines are going to charge and some are ways well i think all of them might some extend much of the delta and some of the bigger carriers. do that but look

it's not surprising that frontier would want to charge you to sit. next to somebody who's infected with the disease because frontier charges for everything it is about what they're lying holiday or yeah it's part of their business model is what they operate on the problem is i think it will be interesting to see how airlines actually you know put this into practice for instance if you pay $39.00 as i guarantee you're buying an empty seat beside you orders for interior say you pay 39 and if there's an empty seat we'll see you next to it i mean i think that's where we're going to see more of that because that happens all the time your problem is one thing you get another one some airlines are promising temperature checks before boarding no in-flight alcohol that to be the norm avoid physical contact and now even saying that ticket prices could be 50 percent higher i mean we're hearing a lot of who knows maybe they might take some incentives given that they really need people to take flights carry left editor of you from the wing thank you for your time member co-host events one. that's it for this time catch boom bust on

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financial survival guide stacey let's learn a ballot fill out let's say i'm not sure i get here please respond back from the fight. thank you for. the story that's right. debt slavery. welcomed on contact today we discussed the long disingenuous role the united states has played in the israel palestine conflict with professor rashid khalidi this is not just a war by the zionist movement of the palestinians it's a movement it's

a war i should say really declared by great powers the race sure of the palestinians is really the work of the british in the 1st instance and later of the united states and other powers at a later stage what it why i mean so what the british of course occupy palestine is part of the ottoman empire are in world war 1917 now and the marches on drew sloan. what is what is the british had to because they certainly have colonies in india and everywhere else for. what is it that the british are attempting to do to kind of you know with the zionist movement was radical right well look the basic goal the strategic. israeli palestinian conflict is not the product of ancient ethnic hatreds nor is it the tragic clash between 2 peoples with claims to the same land it is rather a manufactured conflict the outcome of

a 100 year old colonial occupation by jewish zionists and israel backed by major imperial powers starting with the british. and a century later with the united states this project from its inception has always been about the forest and often violent displacement of palestinians from their land the seizure of that land by the colonisers and the rendering of the palestinians as non people as if they never existed this century long the so 1st by the zionists and later by israel has always been waged against an addiction is people to force them to relinquish their homeland to another people against their will yet to state this incontrovertibly fact of jewish colonization supported by a numerable documents official statements exhaustive reports at historical records and events sees israel's defenders leveled charges of anti semitism.