this is 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 troops lines across the globe are facing criminal investigations will prosecutors claim money set sail without fully disclosing the risk involved we have a show for you today so let's go and dive right it. as of tuesday global deaths from corona virus 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 have already started delivering doses of their experimental vaccine here in the united states if the vaccine proves to be safe and effective it could be ready for the u.s. 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 well you know after consulting the opinions of the 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 mask 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 travel zone between australia and new zealand it is still some time why but it is important to flag it because it is part of the ride back at some point both destroy you in 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 dot t.v.'s 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 stephen newton 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 5 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 the world being it so much more than that then there is 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 that 3 trillion dollars is part of what's already

has been approved. 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 this 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 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 that'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 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 limited inventory capacity worldwide and so sockets continue 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. and plans to roll their future

contracts so we'll see where that and whether or not these demand 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 was really important you know when 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 then 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 we're 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 will republicans are pushing for it while democrats say well not so fast for more we turn to legal journalist molly barrow america's 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 coronavirus of 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 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 pap antonio america's lawyer is well with 11 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 balance 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 a 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 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 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 word 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 we sing 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 we'll discuss what the future holds for the factor as we go to break here the numbers at the close. we go to work so you straight home.

time after time called her asians repeat the same mantra sustainability and very important to accelerate the transition to sustainable transport sustainability stay number man on a more equitable and sustainable world. they claim their production is completely hama's. and. because. companies want us to feel good about buying their products while the damage is being done far away this is again i'll just point in even as i mean look. this is on the news to me didn't anyone and i'm stunned seemed to be best understood look to what the solution. is you'll be doing a reflection of reality. in

a world transformed. what will make you feel safe. isolation community. are you going the right way or are you being led so. direct. what is true what is faith. in the world corrupted you need to descend. to join us in the depths. or in maybe the shallows.

cruise lines have been pretty slow to issue refund this is according to many passengers who cancelled their plans as a crown of irish pandemic worsened worldwide will this 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 worsen worldwide new information shows the major cruise lines continue to operate despite the growing threat of the disease well knowing the luxury liner. owners that

continue to fill with passengers were possible incubators for the deadly virus the 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 cova $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. our t.v. recently chartered a boat to take an exclusive look from the water at the port of miami where a line of ships remained 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 in puerto rico and the statement the company said it's committed to supporting all public health efforts to manage the coded 1900 situation and is consulting with experts government officials and stakeholders in developing plans to resume sealing 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 an average of 45 to 60 days for those refunds to be processed there's 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 here in boom bust we have 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's turkey chief kemo grassers says the industry won't recover until 2022 my prediction for this year is for airlines to operate at 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 wean kerry left and bringing back boom bust co-host and i'm both 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 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 affective leaves 0 which is to say that up until recently they had more requests for refunds then new ticket purchases and people aren't traveling some 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 buffet'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 state 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 them have 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 that the government was not going to build them out with loans but 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 and. time soon the government bailouts require

a lion's not to vote for low employees or 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 nose public about the need to shrink the carrier shrink their workforce and while other airlines told their employees that they are going to do their best to accomplish that goal through voluntary early retirement through voluntary leaves united simply said you know expect that we're going to you know shed a lot of pilots a shot 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 and 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 fit next to an open seat at several airlines 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 will do that but look it's not surprising that frontier would want to charge you to sit not that not next to somebody who is infected with the disease 4 because frontier charges for everything it is about what their airline carrier yes 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 $39.00 and if there's an empty seat we'll see you next to it i mean right 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. i 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 that might take some incentive 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 bents one. that's it for this time catch boom bust on demand on the brand new purple t.v.'s it will be on smartphones through the play and the apple app store by searching part will t.v. or stream us on youtube dot com slash boom bust r.t. the next time.

you can be go with the yeah you like. the underlined narrative some call it a myth of american foreign policy is the country's exceptional position on the world stage this is the mark artistic consensus a lumber reality is very different the global pandemic has demonstrated the u.s. should focus on its own exceptional. so you need for good in each. other than the human body. but on the but i'm going to do the book on the soul that this isn't just. the sort of. the emotional learning experience much askew i feel story is stuck for you and i suppose from the course for me which resists him but if i should. fall for the

gut feel that the truth. is missed the passion that. we think he minds be soldier because off the boots he's wearing. to church to the moon so look folks can move for a possible opinion more than the book and then you'll get on the show stuck in that summarizing police force send us all the. time. that. this was. part of the way. or.

it's day's headlines from our 2 internationalists rush it registers more reco daily infections we meet families grieving for loved ones lost in the early days of the break. i want to go home when i'm really a pick me up and those were his last words i waited until the very last moment. hopefully they will call me and tell me there has been a mistake my parents did a lot and it's showing they could have done much more. for british newspaper reveals the national health service procurement official has a sideline in selling p.p.p. privately despite shortages in state hospitals. and could almost double the number of deaths in the night.