economists are predicting $21000000.00 lost jobs that would bring the unemployment rate to 16 percent skyrocketing from the 4.4 percent in march and its highest levels since the great depression well for more we're joined by boom bust co-host christine i was in sight or former fed insider and c.e.o. of cool intelligence danielle de martino booth ladies thank you for joining me today christy let's start with you it looks like markets didn't have that big of a reaction to these new unemployment numbers what are we seeing on the surface day . well on thursday the markets completely ignore the new unemployment numbers and was actually up in fact as it was a massive lead in the middle of the day and it marked one of the 1st time one of the major indexes at the nasdaq was up near to date the entire clone a pandemic led to the closure of all the non-essential businesses so essentially we had all of the tech rally and all of the good earnings from google facebook essentially all the fanks talk it basically let all the market back up and we are now just

a wall toss away from all time high so basically even with the unemployment numbers the news wire was bad but apparently this is less that because last week's tally was the lowest since shortly after the clinton virus was declared a pandemic so many analysts believe that we have kind of cycled through the worst of the 4 shutdown but on the other camp i don't think it's true many think that the aftermath of the disaster is going to be the much bigger problem than the disaster itself it's going to be the rebuilding and the reopening and this is not going to be a very quick recovery but the market in of itself they're still up on optimism because we're doing less bad the entire good news is bad news and bad news is good news narrative is still intact well we are waiting on a report for more numbers to come out for the month of april tomorrow we'll see if that has any effect on the market but danielle 10 year treasury yield fell by point 7 percent on thursday and now this comes after the week treasury also announced that it would borrow the record $2.00 trillion dollars this quarter and they're

also launching a 20 year bond this to help fund their borrowing what does this mean for the future . well i i think that we're starting to see the actual numbers come out so it's no longer $25.00 trillion dollars of debt in theory that we're going to tax 3 trillion extra onto this is reality folks and the treasury is going to have to borrow i lot of money and it is it is a unique time that the stock market in the bond market are really serving up such a different view. news on the outlook for the u.s. economy if you would have said a few years ago the treasury is going to issue 3 trillion dollars in debt you would say wow i would i would think that interest rates on the 10 year benchmark would be through the roof and yet that's not what we're seeing so you know the word i would attach to this is conundrum. what is a reasoning behind that why do you think we're not seeing that. well i think we also have to appreciate that other countries worldwide large nations germany japan

they've got negative interest rates so when it comes to seeking yield in a world where central bankers have pushed overnight lending rates to 0 to 0 bound and in some cases into negative territory there are still investors out there who are seeking the sake haven safe haven scuse me of a treasury bond and looking for some kind of yield with it so it really can come down to a simple matter of supply and demand and there seems to be that it's still reliant on that but danielle i want to turn to these mortgage rates that we're seeing pom it to some record lows as well to 3.4 percent but mortgage applications appear to be going up what do you foresee happening with the home sales and even as new home starts. well you know it's interesting i think that we're going to need some time to be able to tell what's happening with the housing market we're not seeing

confidence among baby boomers really. increase at the same level that we're seeing the fang stocks increase for example and if that level of low confidence remains among the baby boomers once states are open and once people feel safe enough to have open houses we could see a tremendous amount of supply come onto the market something we haven't seen in years and that really could put a crimp in the u.s. housing market bank of america merrill lynch one of the most bullish of all the big investment banks on wall street on housing came out and predicted that home prices would be down by 2.3 percent by the end of next year so i think it's really difficult to read into the tea leaves until you truly got all of the homes that are going to be listed on the part of individuals who say you know what i don't trust my stock portfolio i don't trust my ira for a one k. . i'm going to try and get the money out of my house and downsize while i can well

that's not even coming from those who are refinancing their mortgages what are we seeing there. well we're definitely seeing a massive rush to refinance. mortgage or. mortgage services they cannot handle the sheer amount of volume that they're seeing for these refinancing applications americans try before home prices fall to get as much equity out of their homes to lower those mortgage payments as they can because we have to bear in mind while refinancing applications are definitely up huge year over year applications to purchase a home are down 19 percent over the prior year so we really are seeing this huge surge of activity among those who want to refinance their house absolutely kristie i want to turn to retail now more and more retailers are filing for bankruptcy now today earlier on thursday luxury retailer neiman marcus filed for bankruptcy earlier this week we saw american giant j. crew also declaring bankruptcy and now there's some talk that saks 5th avenue could

be a potential buyer of the luxury retailer neiman marcus are we going to see some possible mergers here especially when it comes to these luxury brands. there could be and it does make sense because fact that that they do have cash on hand and do have the buying power in order to our brand such as j. crew but the problem is given the fact that everybody has kind of rained and and they and we don't expect a quick we found in consumer goods any time soon especially in the luxury level then playing cash right now for an acquisition of a decently summiteers name brand like j. crew is reasonable but it's not necessary and at a time like this i think for that i think they are more in survival mode so i think the best course for them is to actually hoard that cash and make it last as long as possible because we all saw what happened to barney's and now you had neiman marcus so now it's like whoever can outlast. the next the next retailer wins essentially

so it was a merger merging with a like an equal so you have to weaker balanchine merging to become a strong balance sheet this works right now saks will be deploying valuable cash resources to acquire a smaller segment that really isn't worth their time or effort what about macy's where do you see the them going i mean they've they've closed a lot of stores even before the crisis started. macy's has naysayers equity value is primarily dividing derives from their real estate value so many while many analysts do see that macy's is undervalued given their real estate it's kind of hard to put the finger on because macy's has been known declining here years same store sales and they haven't expanded at all so private equity buyers they have a major overhaul plan in store for macy's but that remains to be seen because they tried to do the same thing with barney's and we also that that did not work especially when you have so many locations like neiman marcus flagship store that opened here the hudson yards in manhattan i mean that was that was that new and

clearly not well but i want to turn to you turning over to the fed and the stimulus here a new fed study actually found that rural states have apparently been approved for more of these p.p.p. loans or small businesses the more populated coastal states who have been affected greatly and more so by the virus are only getting a small portion now many economists some economists are suggesting that this is because these rural banks are rural states are serviced by smaller banks do you agree is that the reasoning behind this. well i think that that has to be one of the factors i mean all of the anecdotes that we've heard especially about that initial round of 349000000000 in p.p.p. loans all of the anecdotes that we've heard said that whether you were in a big city or in a small town as long as you went to a smaller bank you were going to get better service and you were going to get processed more quickly. so i think part of it was

a matter of the small banks being more open to take these loan applications we've heard the stories about wells fargo bank of america only wanting their own clients that are to have accounts with them 1st that's naturally going to lead small businesses into the arms of the smaller banks but to your point there is something to be said for the fact that maybe maybe the coastal regions are more in me these p.p.p. funds because their economies have had to shut down for longer periods of time well especially given the circumstances a lot of small businesses still waiting on their applications to be process they still have not seen any money yet and who knows if they will especially we don't know yet what the economy is reopening how much more stimulus will go into this boom bust co-host christine and former fed insider danielle de martino both thank you so so much for your time. thank you. on wednesday the u.s. told the world trade organization there was no valid basis for the e.u. to retaliate with tariffs against the us this is over the ongoing boeing airbus

subsidy disputes well u.s. trade representative robert light hisor said with washington state's repeal of this relatively minor tax reduction the united states has fully implemented the recommendation ending this dispute this step ensures that there is no valid basis for the e.u. to retaliate against any u.s. goods will in cases dating back to 2004 the w t o found the world's 2 largest plane makers received billions of dollars and unfair subsidies will ultimately it would allow both sides to then impose tariffs on each other's goods the u.s. already imposed tariffs on $7500000000.00 worth of goods including aircraft wines and even cheeses well it is expected to reach a decision on tariffs request by june. time now for a quick break but hang here because when we return privacy concerns continue over coronavirus tracking apps now in the u.k. could that spill over to the u.s.

well discuss what the co-host spens want as we go to break here the numbers at the bottom. we start to add to. the good in each. other than the human one. but on the but i'm going to do the book on this muscle that business in just a new system of new. moves from learning t.v. must do articles to leave stock or you muscles from the course for your new year which muses to that of bullshit and. if you go chill the fuck should.

settle into the business. that. we think he minds be soviet soldier to piss off the boots she's wearing. to church to the sold out so it can move the opposable to put you know more than the luggage on the shore stuck in the summer watching the police force send us all the. yeah you look.

at is the. police. were. dying one or some of the wealthier neighborhoods it's been far more contained and the numbers are much lower than some of the word neighborhoods to start to speak to the scene we're working with a good source outside the state is there just shortly 'd here so i'll let you know . as concerns continue to grow over the spread of coronavirus more and more

governments are looking for tech companies to roll out contact tracing apps well apple and google have claimed that they will create an app that can do just that but there are some enormous privacy and even civil liberty concerns that are happening over these apps while that includes in the u.k. where an influential parliamentary committee is that warning that the and h s contact tracing app must not be rolled out across the u.k. until the government has increased privacy and data protection and joining us now to just. post an investigative journalist swan thanks for joining us today now among these concerns over the u.k. contract tracing up the joint committee on human rights said on thursday that it was essential legislation it was an act of 2 to ensure that mass surveillance of personal data did not. a violation before the trial has actually expanded one of the biggest concerns we're seeing here. yes so essentially it's important for

people to understand 1st of all that google and apple together have tried to create or they say they're creating it will be released this month this contact tracing app that is separate from the contact tracing apps that are being developed by different governments around the world so in the u.k. they're not using the google apple version not to say as necessary a good or bad thing but they're not using it they're creating their own and the reason they're creating their own is because they along with countries like france and germany have decided that the google and the apple contact tracing app doesn't go far enough so that's one of the concerns here so essentially what these have in common is they use bluetooth technology you have an app on your phone someone else has it on their phone it uses essentially the bluetooth to be able to connect and to determine whether or not you come in contact with someone who has a corona virus the problem is that under the google apple system it's entirely voluntary and in the u.k. they don't necessarily want to be voluntary they want to be able to track as many people as possible and to have data that's included in that that tells you the

person's location it gives you information about who they are where they are and where where they're headed to so there's way more information being given to the authorities than there is under the google apple version when we've discussed this before here on boom bust panda a few weeks ago where france was asking apple and google to take some settings and do some resetting of some of these apps so that they could they could actually continue with this at this tracking app but the n.h.s. granted privacy international early access to the app the researchers actually used an internal version of the app auditing pop form it's called exodus and privacy what did they actually find it yes so one of the things that they found was that apparently the u.k. version includes something called google firebase analytics and also microsoft's absent or analytics trackers now what's in. about that is that according to this group those apps and that technology that analytics technology does gather

a large amount of data about the user themselves and it uses other apps within the phone to be able to do that so essentially it's not just tracking you in terms of contact with people who have coronavirus it's much more invasive than that by using those tools it's also important that the way this is being established is that right now according to the u.k. they say well listen we're not using all of those features and if you have this on your phone you know we still respect your privacy we're going to gather too much data but what authorities are warning about and experts are warning about is that if you approve the settings on your phone and then in the later version and update goes through that now begins to track you you've already accepted the permission so you will know and it will automatically begin tracking you in more obtrusive way that's a lot of very very intrusive or hey now the app has been somewhat controversial obviously due to the n.h.s. the decision not to use the google and apple tool which is thought to be early and

mid may but is a u.k. model something that we're going to see roll over and spill over here to the u.s. . well i think of gerry cushion or has his way the answer will be yes to that unfortunately the trump of ministration seems to be pushing this forward as well and again this congress listen contact tracing it makes sense to an extent but only if it's an opt in system instead what you find over and over with these different government entities that are creating these apps is that what they want to be able to do is number one gather large amounts of data on users number 2 they want to be able to track you and they want to number 3 be able to access that data and store it for themselves it's not necessarily better of google and apple do it because then google and apple are the ones who are storing the data right the problem is going to be this that when a government comes in and says hey we can use this for a much wider applications then coronavirus where does it go away at what point did those apps disappear or do they become embedded in the framework of every smartphone i think and most people are smart enough to know that's where we're

headed and that's why it's a problem either way the data is going somewhere we all know that nothing nothing is actually free especially when it comes to the data collecting apps. spend so on it thank you for your time and analysis. sort of the. tensions between the united states and china are on the rise while it's creating concern that it could be the start of a new cold war and it could eliminate progress already made on the u.s. china phase one trade deal artie's rachel blevins joins me now to discuss the details rachel what's the current state where we saw them sign the phase one trade deal just a few months ago where are we now well at this time the united states and china were supposed to be in the process of finalizing phase 2 of this massive trade deal but instead president trump is now questioning whether china is moving forward with all of the agreements they made on phase one now because of this he is saying that he plans to talk to farmers in the coming weeks to decide whether or not to terminate the deal altogether and that could lead to even more tariffs on china now

this all comes as the state department has confirmed that they are no moving forward with plans to turbocharge their plan to reduce their reliance on china's manufacturing supply and they say that they're doing this simply because they want to work with what they describe as friendly nation this was a nearly 2 year u.s. trying to trade where the world's 2 largest economies are now we may be backtracking and basically canceling that phase of one trade deal it's it's crazy what we're seeing here how is china or china has actually want to respond to these sort of comments is there what have they said rise or china's obviously frustrated with these comments from president trump and they're also frustrated with all of the comments that are coming out of the trip and ministration about the coronavirus and a spokesperson for china specifically responded to these comments from the u.s. claiming that the coronavirus may have come from a lab and move on or that china delayed information about the coronavirus and so that something that a spokesperson were trying to foreign ministry spoke out about and specifically the

secretary of state might pompei oh she accused him of making up lies and failing to keep his story straight take a listen to what she said. the reason why he made such self-contradictory comments is because he has been making up and covering up a lie by fabricating more lies that is an open secret already it is not only a war between humankind and viruses but also a war between truth and lies on the shifting the blame will not solve the problem or the lives lost we sincerely regret any more of the lives lost in the united states. china is now calling on the united states to present any evidence it may have these claims and it's also accusing washington of trying to place the blame on beijing to take away from the way that the us has responded to the current of a lot of play here that's for sure but is there any sign of the u.s. actually backing down i mean clearly the china develop like it well what have they said well the chairman ministration doesn't appear to be backing down anytime soon

and secretary of state my pompei was specifically said that he expects tensions with china to remain high and told beijing responds with the information the u.s. wants specifically on the origins of the coronavirus and on patient 0 take a listen to what he said this is why this is why when i see people say well america's bullying the chinese. are demanding of them only what we demand of every nation be transparent be open be a reliable partner the very things they say the chinese say they want to cooperate great cooperation is about action so about opening up it's about sharing this information so the details of where patient 0 where this began are things that are knowledge that's in the possession of only the chinese communist party. now there are reports that trade representatives from both the u.s. and china could meet over the phone in the next week to talk about the ongoing accusations and everything here but at the same time there is a lot of concern about this ongoing rhetoric specifically over the current virus

and whether it will hurt not only the trade talks but also overall relations between the u.s. and china so much so that it could lead to a new cold war that and more even the global economy that's already hurting from a pandemic it has already been hurt for the last couple of years because of the trade war well hopefully this is just an empty threat and we don't see a trade war part 2 between the 2 largest economies thank you r.t. correspondent rachel bobbins thank you that's it for this time you can catch him bust on demand the brand of as always you can catch us on you tube. r t you next time. yes done which is day warren buffett extortionist private equity. is reported game changing record breaking losses as berkshire hathaway is holding

company goes belly up. you know it's. going to cause you to go so you used to believe you could do you think you could only get you to grow wheat you would do it if you could. leave. it to pollute somewhat of a deal of content as much you want. to sure. this is. just. silly. let's just for you to. give. the mood to luke shade of this new book my man companion for me my siblings sort of do you know what the slope.

is something like this and she's taken the whole new coast. take arms. try to defeat it we truly need to loose and we know. this isn't a coaster can. you see the street scene. and there is. a part of.

hello there i'm fair in france i can watch it in question broadcasting from our team erica's national news headquarters here in washington d.c. we want to welcome our viewers from across the nation and around the world here are tonight's top stories as the pandemic continues to grip the world tensions between us and china continue to ramp up leaving many wondering if or sliding into a new cold war details on that next and plus researchers are looking to prehistoric dinosaurus a design new technologies of the future and a full report see what drone operators can learn from this 1st in-flight ancient creature and finally the f.d.a. is sending out an earth. warning about the dangers of zantac turns out to give you cancer we'll discuss that all right sit tight it's time to boost your news i.q. .

tensions between the united states and china are on the rise creating concern that it could be the start of a new cold war and may likely eliminate progress on a trade deal so to talk more about this rachel blevins joins me now to go to get into the details so rachel what is the current state of this trade deal where time right now in the united states and china were supposed to be finalizing phase 2 of a massive trade deal but instead president trump is now questioning whether china is following through on the agreements made with phase one so because of this he says that he's planning to talk to farmers in the coming weeks and to decide whether to terminate that go altogether and that could mean more tariffs on china now trump was asked about this and asked about whether he thinks that china is following through with their end of the deal take a listen to what he said. do you hope fully they're going to keep the deal we'll see they may they may not going to fund it. the state department also confirmed that it is in the process of turbo charging this plan for the u.s.

to move back on its reliance on china's manufacturing supply and they say that they're doing this because they want to work with what they describe as friendly nations so rachel how is china responded to the latest comments from the u.s. well china has denied these accusations from the u.s. specifically with health information about the coronavirus in order to hoard medical supplies and we're responding to those comments from secretary of state the koran a virus may have come from a lab and will harm a spokesperson for china's foreign ministry. was quote making up lies and accused him of failing to keep his story straight take a listen to her response. the reason why he made such self-contradictory comments is because he has been making. covering up a lie by fabricating the more lies that is an open secret it is not only a war between humankind and viruses but also a war between truth and lies on the shifting the blame will not solve the problem

or the lives lost we sincerely regret the lives lost in the united states. now china is also calling on the us to present evidence of its claims and beijing is in queues in washington and trying to shift the blame away from the u.s. response to the current virus now rachel is there any sign of the u.s. backing down or even just changing the way that they approach this or the tram going to a station does not appear to be backing down any time soon pompeo said that these high tensions will likely continue until china provides the information that the u.s. is calling for which includes more information about the origins of the virus and patients 0 take a listen to what he said. this is why this is why when i see people say well america's bullying the chinese. are demanding of the moment what we demand of every nation be transparent be open be a reliable partner the very things they say the chinese say they want to cooperate great cooperation is about action. opening up it's about sharing this information so the details of who are patient 0 where this began are things that are knowledge

it's in the position of only the chinese communist party now there are reports that trade representatives from the u.s. and china could hold talks over the phone as early as next week but if the current rhetoric over there coronavirus continues there are legitimate concerns that it will hurt not only of the trade talks but also relations between these 2 countries which could lead to a new cold war all right artie's rachel blevins thanks so much for from that report thank you and president trump is beating the trade war drum saying tariffs could be the ultimate punishment on china and this could be a poke in the geo political trade war hornets' nest so joining me now for more analysis on this i am joined by stephen innes chief global market strategist stephen x. so much for joining us now this past january the u.s. and china signed phase one of the trade deal just this week president trump now threatened to negotiations altogether if china didn't fulfill its promise to buy 2 $150000000000.00 in goods when you have the coronavirus putting a halt to just about.