this is boom bust the one business show you can't afford to miss. in washington coming up it's thursday and unemployment numbers are in from last week and they're not getting any better they're nearing rates we haven't seen since the great depression when a train last month's federal reserve meeting show there's more concern about the long term economic recovery we spoke with former u.s. representative dr ron paul to get his take we have a posh show today so let's go and dive right in.

the global pandemic surpassed 5000000 new cases as a lot in america surpassed several countries in europe cases in brazil are still surging the country recorded nearly 20000 new cases its biggest single day spike it could soon have the 2nd highest number of cases in the world it's thursday and unemployment numbers are in from last week and still on the rise will nearly all 50 states have at least partially reopen and still 2400000 more americans filed for unemployment just last week that brings the 9 week total jobless claims to more than $38000000.00 analysts are even expecting even worse numbers for the month of april now russia still seeing its cases surged deputy prime minister a top 10 are goalie cova reported the country's unemployment rate has risen by 30 percent since the start of covert 19 the pandemic is expected to wipe out 20

percent of russians disposable income in the 2nd quarter of 2020 well the world health organization reported the world record in newly reported cases worldwide this week. we still have a long way to go in despondent. in the last 24 hours there have been 106000 cases reported to doubly. the most in a single day since the outbreak began. almost 2 thirds of these cases were reported in just 4 countries it has been particularly impressive to see how countries like the republic of korea have built on their experience of murders to quickly implement the comprehensive strategy to find i usually test and care for every case and tress every contact. meanwhile as europe plans to open its borders

italy's government is using the coronavirus pandemic as an opportunity to pass the mother of all reforms and to simplify the country's economy. so we are working on the new decree law dedicated to administrative and your credit simplification which will introduce the many new elements to provide italy with an unprecedented economic shock to kuli in the infrastructure sector i consider this reform the mother of all reforms the only one capable of affectively boosting the competitiveness of our country elite can no longer wait for the turn and if we don't succeed in simplifying now in the state of absolute emergency i frankly doubt we will be able to do it in the future look at it from our numbers and information on the crown of iris be sure to check our portable the t.v. up and look for the section tracking chrono virus. while the country is focused on coven $1000.00 pandemic it's a big day for the battleground state of michigan where president trump is there now

and is expected to visit with or with essential workers that is our teacher and fronsac is outside the white house with more. michigan has been one of those states that spent at the center of this covert 19 crisis but also they have dams break in they have flooding they have thousands being forced to evacuate from their homes but for the trump administration it's more about how the state plans to vote this coming november and how the economy will bounce back trump landed thursday afternoon and ypsilanti michigan to tour the ford motor facility detroit automakers headed back to work monday producing vehicles along with ventilators for the 1st time since late march because of covert one team now despite the reopening there's 3 key factors that must happen for a steady recovery in the auto industry coronavirus safety protocols the supply chain and the demand and the president was asked yesterday whether or not he would be wearing a mask while he tours the plant which is in the process of manufacturing ventilators to which trump said it all depends that's what michigan's attorney general fired

back saying if trump did not wear a mask he would not be allowed to come back now because of the corona virus pandemic michigan has considered implementing mail in ballots to which president donald trump followed up on tweets wednesday threatening to hold up federal funds if michigan decides to give mail in ballots the green light listen here we don't want them to do mail in ballots because it's going to lead to total election fraud so we don't want them to do mail in ballots we don't want anyone to do belive ballots out if somebody has to mail it in because there's 6 if there's a reason for that's ok if there's a reason but it does not or we don't want we don't want to take any chances with fraud in our elections also contributing to a downward economy in the mitten state more than 10000 people have been forced to leave their homes after 2 dams collapsed and flooded much of central michigan trump says he has sent in fema to help the area but again as far as sending federal funding there is that threat of those mail in ballots now thursday morning governor

gretchen whitmer announced michigan will start lifting restrictions that have been in place for months this is protests have been going on at the state. capitol to reopen whitmer announcing that the ban is now lifted on non-essential medical and dental procedures reopening retail and residents can actually gather in groups of 10 or less all which can start immediately the data has shown that all regions of michigan are ready for us to take small steps forward we're doing this incrementally and i have said on multiple occasions this is like a dial returning not a not a switch that we just won't know what those reopening is a white house economist says there's been positive economic trends and business reopening is in credit card transactions but a number of economists are warning not to have too much of a positive outlook especially with the white house delayed additional emergency assistance but another move by the trump administration an executive order to give federal agencies tremendous power to cut regulations that they see as putting a damper on an economic recovery namely the e.p.a.

and the department of transportation trump adding he wants to make those cuts permanent even after all things coated or over now president trump did when the battleground state of michigan back in 2016 against hillary clinton promising to bring back jobs but political analysts do say that it all depends upon how the economy bounces back after the covert 19 crisis starts to take a fall or boom bust i'm fair and fronsac. stocks dropped thursday as wall street absorbed this week's gains well one of the concerns for investors are the continued and growing tensions between the united states and china president trump said the united states would react strongly if china imposes national security laws for hong kong in response to last year's often violent anti-government protests meanwhile u.s. secretary of state mike pompei o had criticized beijing's handling of the virus pandemic well for their party chinese officials said the country it will not flinch from any escalation and tensions joining us now to discuss what is happening markets we're joined by boom

bust co-host and investigative journalist ben swan and c.e.o. and founder of euro pacific. peter schiff gentlemen i thank you for joining me today. thanks very much peter let's start with you treasury yields held pretty steady on thursday this was after the data came out about another 2400000 people filing for unemployment benefits last week amid the coronavirus pandemic now the fed and the treasury secretary they're trying to push forward this 20 year bond to pay for some of this debt what's your take on this. well the only reason the treasury yields are as low as they are is because the fed is artificially suppressing them if the fed wasn't making this mistake interest rates would be much much higher and they could even contemplate selling all these bonds to supposedly pay for all the spending it's not going to be paid for the fed is going to monetize it all they're not going to find private sector borrowers willing to loan the u.s.

government this much money for so many years at such a low rate so the only buyer is going to be the fed which means the american public is going to pay for it with a diminished standard of living as all this newly created money destroys the value of the money that already exists when i think many people forget that the treasury and the fed work hand in hand and very much together so all the stimulus is coming really from both but but then we've seen a lot of tech stocks really take a dip on thursday after some having you know having had very big days earlier this week what happened here. i think the term you're looking for by the way and the other one is 2 heads on the same monster right about the fed and the treasury but as far as the tech stocks go let's talk about that happy day because yes they dipped a little bit today we saw amazon down i think 1.8 percent our poll and alphabet both down about point 7 percent and about 3.7 percent down for netflix but the reality is is that companies are doing fine right now especially companies like

amazon and facebook that posted their highest record. growth in history i mean in term. their numbers so they had their highest numbers ever this week netflix is doing you know ok but facebook's doing great and of course amazon is profiting from the situation we're in right now with all these stay at home orders and there's you know talk that jeff bezos could become the world's 1st trillion there as a result of what's going on right now so tech stocks are doing just fine when they are the ones that have been carrying most of the market throughout these last couple of weeks peter i hear you laughing there there is concern though i want to such over to the u.s. china tensions there's concern that those will only increase as we had toward november it's election year president trump has blamed beijing for a lack of transparency over the true extent of the coven $1000.00 outbreak in china and beijing it suggested the u.s. might be the real source of the global pandemic how does this back and forth how is this affecting markets. well you know i think ultimately is going to have

a major negative impact on markets you know we're poking a snake in china people i think underestimate the power that china holds member china produces all the goods that we consume and they loan us the money to buy it so there are biggest lender in our biggest supplier and so people don't appreciate to the degree to which the chinese have actually been propping up our bubble economy that the coronavirus is now pricked i just want to mention briefly about these tech stocks you know yes you know there's a sinking ship and a lot of people are crowding into the same lifeboat at least they think it's a lifeboat but ultimately all these tech stocks out of weather this storm they're going to collapse as well in fact that's probably the next leg down is when you see these stocks crack as well what people should be buying is gold and if they want to buy stocks they should be buying gold stocks. gold stocks a lot of these precious metals i know silver and stuff and definitely going up than

that there's been a lot of talk about the paycheck protection program that the u.s. government has used to help these small businesses right now a new survey shows a lot of concern from the small business owners over the program and even its purpose why is that. there should be a lot of concern look the payroll protection program the p.p.p. as it's known is kind of a joke look the government came in originally and said we're going to provide $10000.00 to every small business out there who applies that's a grant you'll get it then you had millions of companies that did it and then the u.s. government came back and said let's clarify that we meant up to 10000 but you probably only gave get a $1000.00 per company and that's what most companies wound up getting so i think there's a lot of concern right now for companies that are getting this look the bottom line is is that government is completely inefficient in almost everything that it does and mass handouts of cash it might be the thing they're most inefficient in and then this case what we see are companies basically saying we don't know what the

what the rules are going to be for what we have to repay because just because the s.b.a. and just because the treasury came out of originally and said here's what the agreements going to be and here's what the guidelines will be for repaying that it doesn't mean that they're not going to shift and have been shifting what those requirements are to have to repay it so what most of them are asking for most businesses are asking for is that this just be forgiven and that would be great if everybody got free money all the time right unfortunately this is the can't work that way and so as a result you have a lot of companies taking money from the federal government who don't know what the strings are that are attached to that money and they're fearful of what it will be and guess what they should be well a lot of them taking the money a lot of them not even seeing at the money either and having to declare bankruptcy and never coming back one more question peter really quick turkey central bank they cut interest rates by 5050 basis points on thursday now in a move economists say that was likely. raised by confidence in the lira how is this different from what we saw just a few weeks ago. i doubt this is going to have much effect on our markets but you

know ultimately it's the u.s. dollar that people have to be concerned about not the turkish lira you have a lot of false confidence in the dollar but at some point the bottom is going to drop out of the dollar and you know right now that's the key because what's happening is a federal reserve is printing a bunch of money that the u.s. government is spending and the key is going to be once that money has no value would good is it that the government is spending it in fact the government is doing a lot of damage to the economy right now so they're trying to keep it running are so is about the fed keeps saying they're going to do everything it takes we have more on that later today but thank you so much for that peter schiff and that's one . thank you time now for a quick break but hang here because when we return it appears federal reserve officials are worried about long term economic damage from coven 1000 well we focus a former u.s. representative doctor on paul earlier about possible negative interest rates and some of the recovery effort as we go to break here the numbers up but.

you can't be both with me yet you know what. i'm chris hedges the corporate coup d'etat has destroyed our democratic institutions the commercial media is burlesque part of the reality show presidents expose the trivia lives seen on contact question more. of seeing the

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i'm holland cook i invite you to climb with me of the mainstream media and from that higher fan to glimpse the big picture question more. minutes from the federal reserve's april meeting show the fed's deep concern over the krona various pandemic and more importantly what lies ahead if there is a 2nd wave of infections a statement released from the fed following their april meeting noted its plan to maintain low interest rates for the foreseeable future quote until it is confident the economy has weathered recent events and is on track to achieve its maximum employment and price stability goals earlier today we spoke with former us house representative and author of the end of the fed dr ron paul and asked his take on

the possibility of even more stimulus. i don't think the economy is going to recover i think it is going to get much worse and i think the market policies edges on the total insanity of it all so we got into trouble because we spent too much money the deficit for out of control and interest rates for gimmick down to 0 and they're just doing the same thing over again about the other thing they've added is what is equivalent to helicopter money that bernanke he wanted because they are literally just dropping it by the time load on to the consumer because the consumer today is in trouble and they want to be treated like business people so everybody gets something it's amazing that there's any confidence left at all but so far so good from their viewpoint but no it's a sign that there's an end coming i think it's going to shift to price inflation for the individual i think it's already started we already had it but the real inflation over the last decade has been mainly in stocks and bonds and different

things like this but consumer prices are going up and right now food prices in the states is a skyrocketing because of the shortages of because of the corona virus and we're already seeing that at the grocery stores but now dr paul but i will reserve chairman jerome powell has repeatedly said that the interest rates will stay low and down. atlee and that the fed will do whatever it takes to get the economy going and running again he also said that negative interest rates though are not part of his tool kit that he plans to use during this crisis many analysts are now saying that that's a matter of time not if do you agree that negative rates are actually inevitable. well you know they're all calm and very you know do. the brits just did it and we'll do it in the plan is there no matter what powell says doesn't matter because it's going to come but it's obviously a sign of how ridiculous foreign policy is because his dotage it's it's a confirmation that we've had total destruction of the purpose of interest rates

the purpose of the interest rate is to guide a free market economy because it should come from savings but for decades now it's personally been created the so-called capital been created in. you know from a from a computer and that's why we've had this trouble and our continue to do it but it's not going to work it will come to an end even though they will not do what they have to do because it would be so painful so they're going to keep doing it it will go to 0 i never dreamed it would get this low but the deficit is just exploding it will and there will be on the eventually decreased confidence in the dollar which is a major task because all the other currencies are a mess too right so it'll be a global event and i think i think that that's coming but it's going to be a lot of price inflation for individuals and that will be a big deal what else besides that the price inflation you mentioned devalue

devaluing the dollar what else are some of the possible ramifications to follow from this. well the ramifications of course the people who are looking for you know some place to go and ask the difficulty you know and i've been studying this for a long time but if. i want to care if i want to have some cash ready for an emergency it's not easy what do you do you put in a cd did and lose money so it's very very difficult and for a longer term people have used metals to try to protect themselves but you know quite frankly i think about this old time and i've worked for 30 years in this but my conclusion is that you can't protect against all the monstrosities that go on and all the bad policies of spending and inflation and to what you have to do eventually is change it and wait out the calamity that will come and that will be the bankruptcy. that will be a big event which i think is coming very soon so other people will think what else

i do i think i think my main responsibility as i take it personally is try to prove that conditions so that people can run the economy that's what the free market is all about not made by government spending at interest rates and federal reserves and deficits and redirected in the worst type of economic planning has been this just this thing going on on trading coronavirus i mean that's total insanity and all we do is we get these unemployment rates skyrocketing and what do they do well you know we'll print whatever you need that's what that's what the power send whatever's necessary we're going to print and they are but that will come to an a on the big question is is it going to be next month or next year or is actually when but it will come they cannot continue to do this well they did say that they'll do whatever it takes to keep the economy going now i want to ask you this with all this in mind could there be other alternatives to what's being done right

now and what would those look like. oh well from their viewpoint that's all there is and the conventional wisdom out there today circumstance is that's all they can do and they won't admit failure so the thing to do is you have to get liquidate debt the market says there's too much debt had too much printed money. and so you have to have liquidation but that's very very unpopular i would be you know the immediate effect of that is making things worse it's sort of like taken the medicine or taken the surgery and get over it but you can't heal the economy and to you get rid of all the mistakes and all the debt you can't build an economy when there's so much debt i mean they're talking now about you know what date social security will have to adjust and they'll be out of business but they say and i don't believe they'll quit sending checks they'll keep sending you know computerized money so i don't think you can say well there's quit spending yeah they should but both sides keep spending you know one side said well we should

spend quite as much that both they've all been trained by the same economist in the press in the universities they believe in keynesianism they believe that deficits don't matter they believe that the federal reserve and central banks are supposed to do this but the free market is what solves the problem and the whole of the whole purpose i have is trying to get people to have confidence in understanding why freedom works much brother rather than foreign policy or whether it's in individual liberty or whether it's in economic policy people weren't smart enough to go to washington or some people say well we'll put you in charge of the of the federal reserve and then you can tell us what to do i don't know what to do i don't know what interest rates should be or in the market conditions that this whole thing that it's a management problem management is impossible you can't manage an economy like this or or the whole global system by just having different managers put in place now dr paul we have a little less than a minute left i do want to ask you this with all this in place and all of the stimulus that the federal reserve planned plans to to continue to tonight the

economy with what do you see the future looking like and does the federal reserve need to make some sort of change to its infrastructure. well i think the federal reserve should go out of business. and i and. and they're not going to but they will self-destruct just like the brand would self self destructed so i'm on the short run i have dire predictions because they won't liquidate to death but the market will liquidate today and that will be a major event long term i'm an optimist because from what my where i've said you know i've been in congress in the programming i do now there's a lot of people who are sick and tired of it they understand what free markets are all but they don't believe in negative interest rates they want their liberty back and that's a growing number when i 1st went into politics in the 19th seventies people didn't even know about it and they want to ask me why are you talking about the federal

reserve a lot of people are and they know that the federal reserve is going to get the blame for the for this and there's no easy replacement other than releasing it to the marketplace we lasted for a long time in this country in the most of the world did without central banking assuming they had the proper they had the job of economic planning and printing of money and reaganomics interest rate doesn't work so in the long term i think that that is ideas are alive and well and they're growing and so i'm optimistic that in a year or 2 or 3 the people will wake up and realize this is a total failure that right now i would say that we're in for a bad year or 2 powell did say that it will take a longer recovery not not high not it won't recover as quickly as anticipated unfortunately thank you so much congressman ron paul for your time today. that's it for this time you can catch boom bust on demand on the brand new portable t.v. apps available on smartphones to google play and the apple app store by searching

portable t.v. as always check this out on you tube dot com slash boom bust our team the next. join me every post a little excited with. sure and i'll be speaking to us of the world of politics or business i'm show business i'll see you then. 54 jets and more than 1300 military personnel are headed to air force base in alaska where is that to say come on i'll show you what's the reason for any type of enhanced u.s. military presence in this area russia. what is it suddenly about the south china sea that makes it so that it 11000000000 barrels of oil.

take a look at this map who really owns what kind of says no it belongs to us india says no we claim that that belongs to us both of these countries have nuclear weapons capabilities there is reason for concern so that's why we're going to drill down on this story for you today right here on the news with rick sanchez where you know as we always like to say we do believe by golly it's time to do news again. you just like to make your children you know when the should. you say stay in the way it's an experience we have no experience of course and sing about split us.

hello and welcome to redact it's night v.i.p. i'm naomi caravan and guest hosting this week and. i am totally not going to cry i'm not lonely you're lonely you know what i never liked goes before but now i would just love to have a spirit from the nother world from my home i mean i've tried inviting them tried to board candles pentagram but i can never hear any creeks or bones or chains rattling i'm starting to wonder and my scaring the go away well we have one heck of a show for you tonight lee camp has a very important interview for you today you spoke with angelica joining us she's a mother and activist a sexual salt survivor a mutual aid volunteer a former 6 bernie sanders delegate and she's running for congress in california so

many important issues to discuss with her also on this episode i talk about the drug company holding the country hostage and correspondent anders we will get into some mind blowing cold news about the greek revolution but 1st here's we cam with angelica duenas take a look and jellicoe thanks for being here thank you so much for having me so you've got a lot going on right now you're the mother of 5 children your husband has been laid off due to the pandemic i think for many americans you're living the common americans experience right now loss of income and security watching trillions of dollars go to wall street and big banks while most people don't see a dime of it can you just start off by talking about what the experience has been like for you and your family recently well i would say that honestly it's been a rough i have like you mentioned 5 kids 4 of them are so.