it is this is the that's what. this is the one business show you can't afford to miss for in washington coming up u.s. president donald trump has readied an executive order aimed at social media giant following back checks on a twitter feed what consequences will the move have going for plus markets are still on the rise but kind of fell late in the day despite mass unemployment in the united states when a lot of the spike in markets this week and we also dig into the rising tensions between the u.s. and china and later the cold in 1000 outbreak has caused

a major disruption in the travel industry particularly airlines we dig into the struggles of the sector with a packed show today so let's dive right in. and there is a big move coming from u.s. president donald trump the president will reportedly target facebook and twitter in an executive order 'd regarding social media according to a draft that appears to have leaked online now the draft version of the order which could still change names facebook google and twitter and targets a section of u.s. law under which tech platforms largely aren't liable for what their users post and are fairly free to police content joining us now to discuss this with a bunch co-host investigative journalist of course ben swan now ben there's a lot to unpack your what exactly is the rule that president trump is attempting to amend and why is he actually doing that and how big of a deal would it be for these social media companies. yes so for started at the very end there it's a very big deal it's actually something i've been calling for for about 2 years the

president now talking about whether or not he can or cannot do this the truth is we don't even know if the president can do this let's talk about what he's trying to do so what the president is trying to do is issue an executive order that would essentially clamp down on companies that are using section $230.00 of the communications decency act to protect themselves with online users essentially what section $230.00 does is it says if you're a platform like twitter or facebook or you tube you can exist as a company someone comes on your platform and they post something that some supposed to be there whether it's a copyright issue a piracy issue or they you know there's hate speech or whatever it might be the platform on which that content is what i've been saying for the last 2 years is that the problem is that companies like facebook and twitter have been not acting as platforms but they shifted after 2016 to become publishers in fact mark zuckerberg in front of congress repeatedly referred to facebook as a publisher meaning that they are actually liable for everything that goes on their platform that's why come tech companies think they have the right to police and

control what's on there so the president had a couple tweets that were fact checked by twitter it made him angry and now he says he's going to issue an executive order to clamp down lastly on this 1st part the big question is whether or not he can legally do that it would have to go through the courts this is a congressional issue and 4 the president i'm not sure has the authority to do what i do think though that congress should do it and then the question also becomes i know that the president's executive order that would kind of put a lot of things in the hands of the federal communications commission correct that's where a lot of this would be redrawing. the f.c.c. and also the commerce department apparently apparently he wants the commerce department to have more access to crack down on these companies as well not exactly sure how it applies to commerce other than the fact that it crosses state lines i suppose because it's internet but that's apparently one of the agencies that will be looking at you know this wild west of the internet and social media obviously has been around you know. 1520 years now of this type of stuff but we still are

in a situation where we haven't been sure to how to characterize it as you said are you a publisher are you social media what are you and it seems like this just gets more and more complicated as we go. well it does here's the problem is that up until 2016 i think pretty much all the stock companies were just platforms you could go on to facebook you could create a page you could post content onto that page and if people wanted to see it they would follow you they would like it in they would see it the problem is since 2016 facebook shifted twitter shifted and you tube shifted and they decided that they needed to police content on their platforms and control what was what people had access to and i don't think that we've seen anything like it as dramatically as we have during the past few weeks during this coronavirus pandemic we are seeing an immense amount of content being filtered and sincere and controlled you tube the president of you tube or the c.e.o. excuse me came out and said just a couple weeks ago that you tube would take down any content that contradicts the w.h.o. how is a journalist supposed to feel about that if you're told if you do not agree with

the w.h.o. which by the way as you know brand doesn't always agree with itself the w.h.o. have issued you know guidelines saying you don't need to wear masks and then 2 weeks later that you do need to wear masks well which what is it so the problem is is that information especially when it comes to journalism is always changing now there are facts that remain but him as new information comes out journalists provide new information and this idea that everything is static is a very strange idea that's being pushed by tech companies right now and it certainly doesn't apply certainly to journalism now twitter's head of integrity your wrath is in charge of developing and enforcing twitter's rules like the one that led twitter to actually slap a new misleading warning label onto a president trumps tweets concerning concerning nationwide mail in balloting on tuesday now is that misleading label what is driving the president's action here well it is it was because 2 of those tweets were labeled as misleading information

that's what twitter is using facebook uses a different term they say partly false information is how they're doing it twitter essentially has an internal system but the guy who actually is the head. this people of an earth tweets from him in the recent months in years where he's been extremely critical of president trump and is attacked in a lot of very you know personal ways that don't reflect necessarily journalism and so here's the problem the problem is when you have an internal system inside of twitter that says that we will control essentially you know the information that goes out there is people involved in that and whenever people are involved now you have bias involved and so you don't have a clean slate at all to be able to operate from that doesn't mean that the president's tweets weren't misleading it means the so-called twitter police who control it are policing maybe one side but then they don't police another point of view look the same thing is happening with facebook but they spoke does is instead of having an internal system they've now set up a supreme court where you can it would that ultimately decides if facebook actually

calls it that there supreme court to free speech which is insane and then on top of that they have these different fact checking partners like political actor usa today but i'll tell you i've had 2 stories that have been since or by political action usa today in just the past 2 weeks and in both cases neither usa today nor political fact actually fact check my information in fact the political article specifically stated the are there the report that i did the 15 minute report which we did not fact check so this whole concept of fact checkers and who's doing the fact checking has made these companies and completely open them up to attack and i think that they have put themselves in the crosshairs and now president trump is going to squeeze the trigger and i bet i want to hit this last point before we let you go here you know facebook c.e.o. mark zuckerberg actually told this morning i know you know it's coming it is not think social networks should be fact checking what politicians post however his platform as you just mentioned fact checks journalists it and i think i have

a broader question about this ben which is this a little bit of twitter versus facebook that we've never really seen in the. look i we only see it when it comes to these policies is that what's going on here i think that's part of it look mark that one of the the other differences between twitter versus facebook on the issue of politicians is that twitter makes almost no revenue from political ads and facebook makes about half a $1000000000.00 in one year from political ads there's a big difference in terms of revenue facebook always a half a 1000000000 that's nothing for us but they don't act like it's nothing and the idea make your head explode by thinking about this mark zuckerberg says politicians don't need to be fact checked but journalists have to be fact checked by non journalists on facebook in order to exist does that make any sense at all what he's essentially saying is if you're in a position of power we will fact check you but if you attempt to hold those in power accountable you're the ones that we're watching boom bust co-host ben swan we

will follow the story and bring it back to talk about it thank you so much thanks for. the u.s. economy contracted in the 1st quarter of 2020 by a faster pace than initial estimates according to a new or 2 new data from the commerce department gross domestic product fell by 5 percent from the year prior for the month of january through march of last month the number was estimated to be a 4.8 percent drop over that time frame but was revised down now this marks the biggest quarterly decline since the dive of 8.4 percent in the 4th quarter of 2008 now as they hold orders persist in the u.s. some economists estimate the economy could shrink by between 30 and 40 percent for the 2nd quarter of 2020 meanwhile more bad economic news as the 1st time unemployment claims in the u.s. hit 2100000 for the week ending may 22nd claim since the beginning of march have now eclipsed 40000000 for more on this and the state of the economy and what markets are doing on thursday let's bring in blue bus co-host christine christie

thank you so much for being here as always now the u.s. economy shrank by a faster pace as we just mentioned but the real question is up until about the final hour of trading markets were up today and they've been up all week what's going on. well right now there is this very heavy rebound narrative that is driving this bounce and some think that this quarrels will rebound sharply in the july to september quarter but there are a couple factors are playing out in this risk on ships the 1st of all you have the fiscal stimulus acceleration from europe and germany that we talked about yesterday this is huge and it's a very big shift away from its very traditional very conservative stance so that you also have the ongoing rush to reopen the global economy mobility and credit card data our national indications that american consumers are trying to return to normalcy and then of course finally have the nonstop helicopter money that is artificially putting a floor onto the entire market driving traders to flip the switch and start buying in order to cover shorts but despite all this despite the market's now going above the $3000.00 again in the s. and p. big money still remains sidelined in this rally so you can see that in the data the

flow of data the hedge funds and the large asset managers have not been participating and they have instead pushed their net short positions on the s. and p. futures to the most aggressive stance since february of 2016 so right now this tells you that the majority of this rally it's being bought by retail investors which is exactly of what happened if you recall just a few weeks ago when all the oil speculation trading was played out that was driven and then crushed with retail traders retail investors taking all the losses and now we just mentioned these unemployment numbers and while it's higher than expected once again the market still really taken it as a good sign why do you see that. it's funny how the markets try to put an optimistic spin on things sometimes by saying this is bad but not so bad in comparison apparently so in this last week 2100000 more americans filed for unemployment benefits for the 1st time now this brings the 10 we are told to about

40770000 which is dramatically more than any period in american history so now while these figures are quite disturbing the fact is that the kerrisdale out itself has been a contributor and all of this the keris act increase the eligibility for jobless claims to self-employed and get workers and an extent of the maximum number of weeks that one could receive these benefits so this created a lot of incentives for some businesses to furlough their employees knowing that they will all be covered by nan chalet so anyone making below about $50000.00 are for the most part made whole so you have a lot of people who are happily taking unemployment benefits now as they're receiving war that they have ever made or when they were employed so all obviously these numbers aren't great but there is a silver lining and that is the continuing claims or the measure of by those that have been collecting for at least 2 weeks that number has now dropped by 3800000 from the previous week so this decline in continuing claims suggests that businesses are rehiring some people back again especially in states that have

reopened so it very well may be the case that we are seeing a bottom in unemployment and we're nearing a turning point now chris i want to move on to you know the kind of the topic of your lately the u.s. and china appears to be escalating into this cold war but that is not what china wants according to the chinese premier. was one of those are being we have all along rejected the cold war mentality and decoupling resolution of your economies of the world will do neither side. also harm the world it appears also that president trump is going to be giving a news conference on friday afternoon to discuss the situation with china a lot having to do with a national security law a law that. being put in place in hong kong at all as well but what is the latest on the situation in the cold war between china and the us. so it seems like china is trying to diffuse the escalation and this comes after the transmission to a plan to cancel the visas of thousands of graduate students and researchers in the

u.s. so china will have to take their bids us cancel that will be expelled well those are already outside the u.s. will not be allowed to return or so the purpose of this apparently is to clamp down on spying and intellectual property that it is expected that there will be significant pushback as chinese student enrollment is a big source of funding for institutions over 360000 chinese nationals attend u.s. schools and annually generate economic activity about $14000000000.00 largely from tuition and other cities so now while the u.s. continues to try to escalate the situation china wants to take a step back and it doesn't want to decouple an escalating to a cold war hong kong right now is the main battleground so this rivalry between the us and china just escalate on all fronts from technology and i.g.n. ai over to politics to trade and economic it's just a mental difference in ideology that isn't easily reconciled boom bust co-host christi i will have more about this friday thank you so much for your insight. thank you. time now for

a quick break but hang here because when we return the kobe going to an outbreak has caused a major disruption in the travel industry particularly airlines we dig into the struggles of the sector as we go to break here the numbers of the clothes. i like it when the hosts ask a question for the guests and then actually listens to the guests answer and then react to that that's a follow dennis miller here i've got

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a 9000000000 euro bailout of german airline new phones is up in the air as the company's board said it is quote unable to approve the rescue due to conditions put forth by officials in the european union as part of the deal the german government was set to take a 20 percent stake in europe's 2nd largest airline and maintain the rights to just over 25 percent to block any attempt at a hostile takeover but the point of contention comes as brussels suggest the airline must give up some takeoff and landing slots at airports in frankfurt munich to break all that down we're joined by r t correspondent peter oliver from berlin peter thank you so much for joining us at this point what are the prospects of this bailout actually happening hello. it's probably going to happen it needs to happen if you really look at the state is form of thomas' point of view it isn't going to happen just yet and that all comes down to the 72 prime time takeoff and landing slots at germany's top 2 airports

that's frankfurt and munich frankfurt sees just over $70000000.00 passengers a year certainly last year around $50000000.00 for me unique the e.u. commission competition regulators they said they said they would allow the $9000000000.00 german government bailout of tons and tons it was to relinquish the slots on a permanent basis so that was on monday tuesday wednesday the board of lufthansa got together and they said it's not really going to work for us we don't want to give those up on a full time basis what about if we did it temporarily they actually said in a statement that they were going to assess the economic impact of giving up those slots they also said in knots. same statement that this bailout was the only viable alternative to essentially the company going bust senshi this is going to come down to who blinks 1st lufthansa doesn't want to give those slots up on

a full time basis the e.u. commission who usually have incredibly stringent rules when it comes to this type of thing how of east these things slightly in the post trying to get things back on track after corona basically tons has got a good deal to make it a better deal for themselves does seem like there will be a deal at some point in the future is just a matter of when so where exactly the. airlines operations have been reduced to one percent of normal operations amid the pandemic. well it leaves them annoying every other airline that isn't getting one of these bailouts one of the major low cost airlines in year or ryanair based out of out of ireland they've been very vocal particularly their c.e.o. michael o'leary michael o'leary never backwards about coming forwards he's described this bailout is another example of illegal state aid as he puts it saying

that it will give lost tons of it unfair advantage in the marketplace the german economy minister though he's the one that's been signing off a century on these checks that they put forward this $9000000000.00 bailout he says the reason the german government's getting involved is to keep essentially an aviation institution in german hands. and that. is one of the most traditional german as well as. we have done sent a convincing signal free market economy but also for the federal government's will to defend the technological and economic sovereignty of this country. well the german government for the head $9000000000.00 euros 20 percent of that can

rise to 25 percent plus one share in the event of a hostile takeover. not a case that's the only way that the german government would get a vote on the love tons of gold the plan is for the german government to sell whatever share it ends up having or by 2023 by the end of the year this is very much being looked at as a temporary bailout a temporary presence i beg your pardon on the left on the boat r.t. correspondent peter oliver thank you so much for keeping up on the story and give us that update. and for more on the state of the airline industry amid the pandemic let's go ahead and bring in gary lef author view from the wing and gary i want to start with this actually situation with the phones as we just mentioned it appears they're going to refuse the bailout terms with the e.u. how big of a deal is the for them to lose these spots as peter just mentioned and really what does this mean for live thousands of customers. well 1st of all i mean i think we

really do expect the deal to have been but obviously the slots are incredibly important to little bonsa to the extent that they're going to play chicken with a 9 point $8000000000.00 you know world where there are planes flying and you know airport operator at capacity these slots are very valuable to the airlines to their business they're basically stayed in their own right because the government and given the are not saying the right to take off and land when and exclude others from doing so that is a way they are an outsized returns on your normal operations and then also frankly the government will get their ability to sell their shares for something close to what they paid for them and now i want to keep on the theme of bailouts here because in the u.s. as capacity has to be limited are we going to see u.s. airlines actually asking for more of a bailout after the one we received back in april because when you look at the airlines weren't exactly giving consumers

a break at the height of air travel but now they have asked the consumers or the taxpayers here in the u.s. to bail them out to keep them afloat and what do you make of all this situation. you know i don't think the earliest way to knowing it would like to position themselves for more money if there's more being handed out they'd like to be a recipient already the u.s. has supported its airline industry no more than anywhere in the world on the order of 25 percent of you know prior year revenue which is about 2 and a half times what we've seen in europe so it's certainly a significant us that's been made on the other hand though they recognize that that carries act restrictions on laying off employees are going to lift one month before the presidential election the airline lobby shop airlines for america has already mentioned to congress a desire not to have to ask for more bailout money which is a way of preceding the argument and so you know positioning themselves with the recognition that the airline industry is going to be shedding employees is in some

ways setting themselves up for more money but it seems like that's going to be a very unpopular and a. likely ability to get something like that done given the amount of money. and frankly because the earlier industry is going to be right thing it will be smaller in the future and the airlines will need fewer employees going forward and so more government aid to the airlines rather than the people who are going to be ultimately transitioning into a new position somewhere else seems like an inefficient way helping people who are affected by the and now gary we're seeing a new report from the united nations world tourism organization saying global tour with tourism is going to drop by 70 percent in 2020 due to the pandemic other issues of cause a drop by 10 maybe 20 percent but this pandemic is really taking effect as you know what is going to have on me and history as a whole i like you said i mean things are going to quite bounce back but what is

air travel really going to look like when things go back to what will probably be the new normal. well 1st of all i think you have small like you flipping a switch and when you see numbers like 70 percent fall you know international you realize that air travel is going to come back more with fleets of mystically than it will be internationally because there will be continue to be restrictions that many countries have in place on international travel it will need to come back to or at leisure travel for business travel with business international clearly being last and a lot of business travel is centered around things like conventions and large group of take many years in order to plan. these are going to be the last ones to come back because large growth answer going to be the hardest they're not valuable until they know that everyone's going to show up for that so it's going to be pricey i'm sure the ins won't recover gary left author view from the way i had a whole bunch more for you but we'll have you back really soon thank you so much for your time and that's it for this time and you can catch blocks of

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oh and welcome to redacted tonight v.i.p. camp today i have one of our biggest guests to date the legendary journalist author and radio host robert scheer his career spans 50 years he started a ramparts magazine interviewed every president from richard nixon all the way through bill clinton as author best selling books spent nearly 30 years producing award winning journalism for the l.a. times in the san francisco chronicle and his various radio shows have been syndicated around the globe he also founded and headed the award winning site truthdig and later in the show now lou mcgill will also show us the hidden history of the pledge of allegiance but 1st here's my talk with legendary journalist robert

scheer robert scheer it's an honor to have you on the show great to be here you are truly legendary career as a journalist ramparts magazine the l.a. times the nation true dig radio shows things have changed a lot over the years in some ways they're actually fewer gatekeepers then when you started and you know anyone can post articles online and ostensibly get them seen by the world but on the other hand the mainstream media is now owned by just a handful of massive corporations how do you feel journalism and news media have changed over the course of your career is it better or worse we should not under and underestimate the worse at least you used to be something about attracting eyeballs or hair.