more songs were next to this in the hopes of the less heard. this is boom bust the one business show you can't afford to miss. in washington coming up positive news for a potential run of. a rally on wall street but how long could it last and as a pandemic global trade and supply chains kind of may have to fight another trade war in the pacific will break it down with my business. day so let's go and dive right in.

we begin this hour with an update on the global pandemic the crown of ours has infected more than $4700000.00 people globally the death toll is now at nearly $317000.00 will stocks surged on monday morning as madonna reported some positive data on early vaccine testing for its phase one response company's stock was up nearly 30 percent early monday the company said it will begin the phase 3 trial of the vaccine in july us coronavirus cases near 1500000 as states are easing restrictions america's auto industry is gradually reopening this is a factor that employs nearly 1000000 people the trumpet ministration is now considering restoring funding to the world health organization this is just one month after the president announced it would suspend funds over the alleged mishandling of the krona virus meanwhile the chinese president xi jinping pledged

billions to the organization to help fight the pandemic. trying to provide $2000000000.00 over 2 years to help with code 19 response in economic and social development in a friendly countries especially developing countries. this comes as the head of the w.h.o. promised an independent probe into the global response to covert 19 so i will initiate an independent evaluation at the earliest appropriate a moment to review the experience gained and lessons to learn and to make recommendations to improve national and global preparedness and response europe continued to ease its lockdown on monday as new infections and deaths have significantly slowed many countries are preparing to open their borders next month

this in time for summer tourist season meanwhile new cases in brazil topped the total in italy the country reported nearly $15000.00 new infections on saturday alone cases are also surging in mexico and peru as these at latin american countries are struggling to contain the growing pandemic russia now the country with the 2nd highest number of cases just behind the u.s. it's kovan $1000.00 growth rate did slow to a record low of 30 percent or 8926 new cases in the last 24 hours. now let's bring in boomers co-host christy i 1st saw market analysis christy the modern a crown of our stock seen our trials are showing some promising results here and are fueling a rally in the stock market the dow is up nearly 4 percent what are we saying. why i think one of the big news is modern as you just mentioned the company reported that after 2 doses all 45 trial participants had developed coronavirus antibodies now meanwhile this is still very early data but still very promising so we are

massively up this morning around 3 percent across all the n.s.a.'s as fed chair paul promised americans that quote there's a lot more that we can do to help the economy during his 60 minutes interview he also hinted that the fed is not out of ammo yet and that there is no limit on what they can do with these lending programs now this is kind of reminiscent of morrow jockey when he famously announced whatever it takes basically with this just are investors are now in a buy everything mode now knowing that there is a safety net with the fed buying everything including corporate bonds now all the gains today are being led by some of the most beaten down and heavily short of cyclical names such as autos energy transport banks and more than 90 percent of the s. and p. are rising today so this may be overly optimistic as we're likely to see some choppy trading as states are still struggling to be open the economy is well kristie where is all this buying coming from and is it even sustainable. well it will look at that's where it gets really interesting because according to the

latest from deutsche bank flow data hedge funds and various other levered investors professional investors have continually tried to take down exposures including today during this rally continuously selling out of all the positions and winding down their exposure so by contrast robin hood charles schwab all that they're reporting record by volumes today so this shows you that right now institutional are selling out and selling down to retail investors and this is kind of concerning as you have the pros getting out of the market while retailers are kind of buying everything in sight thinking that they're getting it at a bargain discount price and also according to no more asset managers and leverage on have continued to start to sell out or being short or be very hesitant to equities month to date well kristie let me turn it over to to softbank who's suffered this huge loss this past quarter not due to their we work situation what's the latest on that front. all saw thank took

a massive hit from we work last year but now with the latest earnings presentation it revealed this new valuation for the co-working startup to be now at 2900000000 as of march 31st now stop bank was its largest investor plying over $18500000000.00 into the company and work was once valued as much as 47000000000 dollars last year before his botched i.p.o. and while there was a time period actor its failure when it looked like it was kind of stabilizing with a hole in one place but the current wave was truly the last nail in the coffin as a pandemic may co-working a dangerous activity so now it seems like the future is in coworking and share spaces rather it's home office and teleconferencing well kristie let me ask you one more question do you suggest with all the stimulus is the fed are they actually going to honestly look at negative rates i know they said no last week but is that the reality. i think that the reality is that they are going to have to take a look at negative rates because treasuries right now are pricing it in and as much

as investors would want they're still pricing it and so as much as powell says that he's not going to even consider and that is nowhere in the cards for the u.s. we will probably eventually get there especially when the entire world is at negative rates it's going to be a tough decision but a lot of stimulus already in forced into the economy so we'll keep an eye on that too much co-host christine thanks for that analysis. thank you. for all the talk of the need for contact tracing apps there are reports monday that the tracing technology being jointly created by apple and google will be virtually useless well according to the washington post local health authorities and states like north dakota as well often countries such as canada and the united kingdom well they say they've pleaded with the companies to give them more control over the kinds of information their apps can collect that without the company's help some worry their contact tracing systems will remain dangerously strained joining us now to discuss is boom bust and investigative journalist ben swan good to see you. sir

wires already in varying countries including some local governments here in the united states now saying that the apple google collaborative will not be of use. well they're saying that for a couple of reasons the biggest reason is because you have local governments as you said and national governments around the world that are demanding that apple and google do more the what they're willing to do right now the issue is simply this apple and google are saying we can use this contact tracing app to be able to monitor where people are not everyone has to opt in under this system you can choose to opt in and if you do that it would tell you essentially what the notification within 2 weeks whether you've been in contact with someone who had coronavirus but what it doesn't do is give you a pinpoint a location of exactly where you were it doesn't track your movements from place to place and that's what governments don't like what they want they're complaining about is that they're not getting the nuff from apple and google they want to be able to trace exactly where someone was what they were doing who they were around.

what point they were at and where they went to next and where they went to next and so they're complaining but that they're not getting enough information and apple and google are essentially saying you what too much information and privacy laws and the desires of our customers is that they not be tracked everywhere they go that's right and some countries in europe we've discussed previously in the past few weeks how had they were asking facebook or apple and google to ease some of these privacy restrictions and that's where it didn't actually go through with them but let me ask you this apple and google both saying that there are some privacy issues here that's what their take is for the customers right well is this an issue of data collection and who collects the data and then who keeps the data and where does it go. well that is part of it i mean part of it is that these 2 tech companies apple and google are saying hey we'll gather the information we'll have the data and then we'll pass it to you and that's in range in a lot of public health officials and and politicians because they say no no no you collect the data you give it all to us and we'll decide what to do with it and

there right now there's a battle between essentially the private collection and storage of this information versus government collection and storage of the nation and i don't think governments like the idea of not being the ones in control of it but there's also a technical issue here that's very important in order for this app to work you essentially have to have your bluetooth on the entire day 24 hours a day and then when you're out and about that bluetooth is connecting to other devices that also have their bluetooth on what apple and google are saying is listen a lot of our users are going to get mad when their phone batteries are dead right away because they're walking around with their bluetooth on and running this because remember the other thing that these governments are asking for is that even when you turn your phone off or you move to a different app that that bluetooth apps keep running in the background the entire time and apple and google are both saying no to this because it essentially violates their their policies to have an app running and tracking you in the background but it would also drain your battery almost immediately especially if you have an older device well especially if you have an older device like you're

saying and most mostly because we still have leased they say the option to turn off the settings on them be able to track us when we're not using those apps but then we do know that some government such as the united kingdom they've decided not to work with apple and google and instead they're developing their own contact tracing system one of their own but is that really not working correct it's really not working and you know when you say these governments have decided they say or it apple and google will just do it by ourselves sarah governments are terrible at most of the things they do but they're certainly terrible at developing tech and in this case they've decided to do what other countries are deciding as well as well just go without you and will create this test without. we don't need you now they're finding out actually they kind of do need apple and they do need google to do this because their apps are not working but i think this is important i just want to mention it contact tracing as a concept doesn't make sense right now i've heard from multiple doctors who are

saying that contact tracing is only valuable in the very earliest stages of a virus and at the point we're at now context raising wouldn't even necessarily make sense because so many people in the population either have antibodies in their system or have been exposed and so contact tracing now wouldn't even necessarily work very well well even if it wouldn't necessarily work do you see the government continue to push for and will they eventually get what they want well they will continue to push for it and i think you have to now i've asked the question is this contact tracing actually about covert 19 or is it about more surveillance and those who kind of scoff at that i am like well you know why why would we believe that well why wouldn't we believe that when every other major piece of legislation that's been passed in this country for the last 20 years has been about developing a surveillance state this would only add to surveillance being able to track your exact location at all times and if you mandated into phones apple and google for

instance android and apple devices you would essentially be able to say all people are being tracked by their phones at all times i think government will continue to push for it the question is will tech companies go along with it or will they try to be the masters of that space and make governments dependent on them or i mean then then we have on our phones for example apple where they're asking you can we store your data we're health data you can turn that on or off to so do you see them breaking down eventually. well i think the apple has its own purpose i don't ever say go for apple and google rags i just don't see them necessarily as good guys in this i still don't but i think what they're doing right now is they're pretending to resist governments by saying we care about our our customers but they don't really care about our customers just look at their recent history and you know that's not true i think what they're actually trying to do here is that apple or google or essentially saying we want to be the ones who control the information gather the data store the data and we decide what governments get i mean in doing this apple and google is tech companies become more powerful than any government in

the world in terms of surveillance they become the most powerful in city when it comes to that i think that's ultimately what they want and that's exactly why the government is turning to that because like we said i mean the government is going to be able to break this we saw the f.b.i. when they finally cracked the apple phone when they were trying to solve and but do the investigation in california over the shooting so apple then i don't know there was a p.r. stunt or if it was just hey like we're going to protect you guys and protect the customers but they managed to pull it off at least to make the audience think hey we're protecting your data when it comes to that co-host of the swan an investigative journalist thank you for the analysis. time now for a quick break but here are the numbers at the close. least. least.

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tensions are flaring up once again between the united states and china both over the handling of the krona virus and communications technologies from wa on monday's spokesman from always said new u.s. sanctions on the telecom giant threaten to devastate the company. in its relentless pursuit to tighten the stranglehold on our company the us government has decided to proceed and ignored completely the concerns expressed by many companies and industry associations. this action this decision is both arbitrary and print issues and threatens to undermine the entire industry worldwide. the new rule will impact the expansion maintenance and continuous operations of networks worth hundreds of billions of dollars that we have rolled out across more than $170.00 countries this

comes days after the trouble ministration restricted the company's ability to use american made chips this includes taiwan's t s m c which supplies over 90 percent of smartphone chips for more we are joined by dean of the miami business school. john thanks for your time thank you for joining us today now while way has already been hit after last year's restrictions that cut off access to american components and software this was last may these new restrictions now they're extremely worrisome for the telecom giant will they be able to survive. yes i'll be able to survive but this is one more turn of the screw by the u.s. on huawei and its effort to slow down the wild ways efforts to globally dominate the 5 g. market. the consumer division of huawei accounts for around about 50 percent of wild ways total sales and this particular regulation is

aimed at that 50 percent that is focused on consumer smartphones. an interesting point here is that a big player is taiwan semiconductor and so this will put this effort by the u.s. will put taiwan in the crosshairs of u.s. china trade tension well currently the u.s. is leading china right leading the world when it comes to technology and artificial intelligence but experts are now cautioning that china it is ring facon so is this a simple race for whoever has the more advanced technology. well the advanced technology is important and clearly the u.s. is still ahead in most arenas but china is catching catching up still way behind but i think you know from a global point of view the global consumer is going to be advantaged in the long

run by this very exciting competition between the u.s. and china. it's not just however about technology it's also about standards it's about who's going to set the international standards for these networks and for these platforms and that is as much about global diplomacy as it is about technology leadership or even with 5 g. over the u.s.'s threatened countries who will allow always lived into their their their countries and the u.k. for example several countries have already said we're still going to allow while weighs 5 g. with certain components especially with china having made the made in china 2025 and they're trying or attempting to be the global leader in ai by 2030 let me turn this up a little bit because i want to ask you about the china australia relations australia joined the u.s. when it called for an investigation of china over the alleged what they call the

mishandling of the coronavirus well china had australia with tariffs that total 80.5 percent on australian barley shipments australia is now the right brightening to take that matter to the world trade organization will that do anything. well i'm not sure that that will resolve the matter and certainly not quick enough for australian bali farmers. china is the major export market for australian bali and we're talking about a $1000000000.00 worth of trade each year it's unlikely that the australian bali farmers are going to find other markets quickly for the bali while on the other hand. china has a certain amount of leverage here because they can go to canada or to go to argentina or to go to france and source bali from those countries.

2 of the countries that have been the subject of rigorous sanctions from the united states are now working together as iran ships fuel to venezuela the u.s. is reportedly looking for ways to intervene which could signal a new conflict amid these increased tensions well for more we bring in our. hands to discuss all the details rachel what's the latest conflict in this well in response to these reports that iran is in the process of shipping supplies divinest rayleigh u.s. officials are reportedly deciding whether or not they want to intervene to try to stop this exchange now if they do so one of the measures that they could take would be to deploy u.s. navy ships to the caribbean sea in an effort to prevent 5 iranian tankers that are currently on route with more than $45000000.00 worth of gasoline and supplies to prevent them from reaching venezuela's ports now the u.s. has yet to say that it's going to do this but at the same time we know that they have very very strict sanctions on iran and read us we allowed to try to cut them

off from the rest of the world and it's definitely been hurting both countries but how has iran responded to this right while iran has actually filed a complaint with the united nations arguing that if the united states goes so far as to try to stop the shipments then it would be seen as a legal in an act of piracy and any consequences that come out of that are on the fault of washington now iran's a spokesperson for iran's foreign ministry also spoke out and he argued that the u.s. has no right to try to dictate where runs tankers are around the world take us no he had to say you know by your own code what american stated regarding our oil tankers and various locations around the world is illegal and shameful if they make any move. against this really legitimate sealing of our ships i would definitely place reaction by the islamic republic of iran. now iran's supreme leader has also called for all u.s. troops to leave iraq and syria and he has gone as far as to say that if they don't

we voluntarily than they will be expelled and it's not clear yet exactly how that would happen but of course making statements like that is likely to once again increase tensions in another area between the u.s. and iran the united states has played sanctions on both of these countries say they've placed them for quite some time now how are are these really affecting these 2 countries right well the u.s. is targeting 2 countries that are known for their oil reserves and they have essentially cut off business with the rest of the world as a result of that and when we take a look at iran specifically we find that the country's g.d.p. fell 4.8 percent in 2018 when the trumpet ministration began implementing sanctions and it fell another 9.5 percent in 2019 and employment rates also rose from 14.5 percent in 20000 to 16.8 percent in 2019 and the i.m.f. is forecasted 0 growth for 2020 now the sanctions on venice whale have left hundreds of thousands of civilians now lacking access to food water and basic

medical supplies and this partnership with iran has given venezuela minimal access to chemicals it needs because it is otherwise unable to refine its own oil but the u.s. has seen the exchange as a way for the 2 countries to undermine sanctions now we have seen countries around the world calling on the u.s. to pull back on these things in the time of the coronavirus but the u.s. has instead doubled down so those sanctions are going to remain on iran until they agree to restrictions on their nuclear capabilities and that they'll remain on venezuela until they agree to overthrow their government one tensions have been flaring up from both countries we know hyperinflation is present in that i so on that has been for several sometime now that was r.t. correspondent rachel blevins thank you think. well the krona virus has put a halt to much of the global economy the race to space continues over the weekend at nasa kennedy space center the united states space for launch the mysterious x. 37 b. into orbit loaded with experiments the spacecraft or orbital test vehicle will circle

the globe testing new technologies to maintain superiority in the space domain sunday's launch was dedicated to the health care workers and others working to fight the pandemic that's it for this time you can catch boom bust on demand on the brand new portable t.v.'s available on smartphones through google play and the apple app store by searching portable t.v. as always talked about on youtube dot com slash boom bust r.t. will see you next time.

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last week both republicans and democrats in the u.s. senate joined together to pass the usa freedom reauthorization act of 2020 not surprisingly the usa freedom reauthorization act has nothing to do with freedom and everything to do with codifying indorsing in ultimately legalizing once again the national security and surveillance state that we all call this current version of the united states of america you see after expiring back in march the freedom act reauthorization restores government powers that lets law enforcement collect tangible things tangible things related to national security investigations without a warrant requiring only approval from a secret court the buys a court that has reportedly rubber stamps many requests not reportedly they have these tangible things include things like oh you know warrant less access to your

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