this is boom bust the one business show you can't afford to miss i'm sorry montecito in washington coming up u.s. may unemployment numbers are in and the rate is much lower than expected standing global markets surging for its decision to ban trying the airline but still feeling the light of those town investigative journalist but want to claim we have a talk show today so let's go and dive right in. us may employ unemployment numbers are in and the bureau of labor statistics show the unemployment rate dropped to 13.3 percent that number was expected to be closer to 20 percent it didn't take long for president donald trump to declare victory today is probably if you think of it the greatest comeback in america is you but you're

still going to stop here it's going to keep going i've got 144 all time high stock markets during a 3 and a half year period nobody's ever come close to that and we're going to do it again . well joining us now with more to break it down is chief strategist of cool intelligence and former federal reserve insider danielle de martino danielle good to see you thanks for coming on. nice to be here today now i want to start with this break this down what are these numbers look like why why why why are the markets surging. well i this came as a tremendous surprise i'm using the president's favorite word this came as a tremendous surprise to the to the markets and to all economists for that matter no single economist was expecting the best one was negative 800000 we got a gain of 2500000 jobs along with a big asterisk from the bureau of labor statistics that said the margin of error is somewhere in the neighborhood of 3 percentage points on the unemployment rate that

goes far to explaining whether or not they're having some difficulty in measuring the individuals who are on the paycheck protection program and whether they're in or out of the labor force so but again markets were not expecting the gravity of the goodness of this number and they rallied hard on it i suspect there were also quite a few people who were betting against the market coming into this who had who had to cover their shorts on many analysts and a lot of economists were predicting that we would see these these numbers not for another month right the recovery would take maybe a little bit longer but it looks like a it's coming back or at least for now those unemployment numbers going and not as bad as we expected but then you know despite the reopening which is what it looks like the markets are following corporate bankruptcy spiked during may now pushing those numbers of filings to record levels of 2009 will this really have any ramifications or repercussions down the road for the american economy. you know it

will and rather than follow the ebbs and flows of the temporary workforce leaving the leaving the economy leaving the workforce coming back and i have been focused a lot on bankruptcies they were 48 percent in may we are going to see record numbers probably this year and if you look at permanent job losses as well what's what's being tracked by challenger gray and christmas we've got almost 1500000 through may so we'll we'll be taking out that record and again as you start to see bankruptcies that will flow through not to temporary job losses but to permanent job losses and that's what i'm really trying to focus on right now because that's going to be the long lasting damage that we see come out of this crisis that's exactly it a lot of these jobs that are not going to come back now turning over to european equities they're also breaking out now that the european central bank has also put a stop gap in the market what sustaining the rally there. well i think part of

part of the rally there is keying off of the rally here as well. even though their stocks about doing very well but for being for having a reputation of austerity angela merkel really has come out with the checkbook open and i think that there is a lot of enthusiasm about the ability of europe to reopen more successfully by the way than the united states because they did take the curve all the way back down and have been able to to see a much more successful reopening as opposed to united states where we've seen the continuation of high levels of the of the coronavirus outside of new york and new jersey and a lot of them countries away still with a lot of restrictions restricting travel as well so we'll see how that plays plays out i'm sure that the stimulus the $600000000000.00 stimulus euro stimulus that is is also helping let me turn to the equities market here it's extremely bullish right now with this print what is a rate market only and they seem to be doubting this recovery. well i think we're

still getting different messages from the stock in the bond market we definitely saw a lot of bloodshed today in the bond market with yields backing up quite a bit and whether or not that reflects something technical in nature or whether or not we're going to see a ceiling to in terms of how much the rates can can can can back up remains to be seen what i can tell you about the stock market though is there are valuation levels as of today are in absolutely nosebleed unchartered territory we've not seen these levels for a generation at this point of the nasdaq reaching that all time high and see it all to all time intraday high see it right there and even the dow like just so high right now and a lot of their companies contributing like boeing former fed insider daniel j. martino thank you so much for your time. thank you. the back and forth between the united states and china over commercial air flights is hitting a new high there is

a china said it would ease coronavirus restrictions to allow in more foreign carriers shortly after washington said it planned to bar chinese passenger airlines from flying to the united states by jews june 16th they are attracted this but meanwhile shares of american airlines group soared on thursday after the airline announced plans to rebuild its summer flight schedule a sign that demand is slowly recovering after collapsing more than 90 percent in the past few months well joining us now to break this down is been less educated less than swan than give us a summary here of this back and forth between washington and beijing you have been kind of crazy sarah the rate of escalation look there's been a lot of tension between the u.s. and china on a lot of issues as of late but this one it escalated very quickly in the deescalated almost just as quickly so here's what happened china's in julie announced that they were going to allow for one flight per week from an airline from different airlines into mainland china in the various cities we just kind of mirroring where they were back in march that was set to take effect on monday then

in response to that the trumpet ministration said well if you're going to do that to us we're going to block flights from china at the same rate one flight from china can come to the u.s. once a week and that will take place june 16th there was back and forth over about a 48 hour period and now as of friday afternoon china has turned around and said ok you know what will 'd resolve that and will allow more flights to come in from the u.s. and the u.s. in response apartment transportation has said if you'll do that for us then will do that for you so it ratcheted up really quickly and then it came back down really quickly a little bit of bargaining here it sounds like but flights between the 2 countries are mostly governed by an agreement 1st sign in the 1980 but the trouble ministration says that china is violating that agreement why is that. well essentially that agreement is what the u.s. air carriers used to be able to go in and out of china delta and a couple of other airlines said that they had been in contact with china and requesting to be able to kind of re begin service to chinese cities in various

chinese cities but they weren't getting any responses china would not speak with them directly or respond to their requests as to when they could get that service up again that's what the u.s. department of transportation said was a violation of that agreement from 1980 and essentially use that as kind of the jumping off point to say ok if you're going to not talk to our airlines if you're not going to deal with us then we'll start cutting back on chinese flights into the u.s. you know what's strange about it there i think more than anything else is the fact that anyone could have really predicted this it's a tit for tat right when you come in and say we're only going to let a few flights come in and the u.s. response by saying that we're only let a few flights come in and then everyone's over it already it's almost as if it was unnecessary to have this argument in the 1st place right way even started that let me and let me ask you this ben speaking from experience we flew into china last summer through hong kong a lot of people do the same thing it's so easy to just cross and from the mainland

from hong kong the island to the mainland just across the border you can go by car it's about an hour and 45 minutes away not difficult at all in reality though many people who travel to china 1st again land in hong kong how will these restrictions her hong kong or will it all. so you make a really good point and obviously because you've had this experience of flying from the u.s. into china or specifically in the hong kong and then traveling by car into china that can still be done at this point what's interesting is that the chinese government has not lifted restrictions on flights from hong kong to the rest of china and so if you fly from the united states for instance into hong kong and then you need to fly from there to another city in china obviously not all or within driving distance you can't do it right now so hong kong has not had its restrictions lifted at this point and so it's more advantageous for american airlines meaning airlines that are american to be able to fly directly from the

u.s. to those various cities rather than go in 1st to hong kong and unless you're going like you said somewhere somewhere close not all cities are close to that border however a lot of big cities here in the united states do have those flights whether directly or indirectly from d.c. from los angeles from a few other cities that go san francisco even to hong kong so it'll be really interesting to see how this all plays out and whether or not it even affects that because again thank you said this argument could have been avoided in the 1st place almost like it's just a tit for tat right i mean these 2 countries just keep going at it and that's a good journalist and let's go host ben so on thank you for your time today. it's time for your global market walk let's start in russia where the molex ended the week in the green it rallied mid week after the government announced $73000000000.00 to jumpstart the economy through the end of 2021 this after

coronavirus lockdowns called the deepest economic contraction since 2009 moving into asia where all 3 major indices are in the green despite rising tensions between the united states and china over beijing's national security law the shanghai composite ended the week up analysts believe china will lead the world's economic recovery after promising data regarding manufacturing and p.m.i. came in just above expectations in hong kong the hong saying also up on the week this is despite the concerns that the new national security law would put its status as asia's financial hub in jeopardy but the index rebounded more than 5 percent this week after it fell more than 7 percent in may still rising tensions between the united states and china and prospects of more protests are fueling those concerns are rounding out asian markets japan's nikkei also in the green the index hit 3 month highs earlier in the week in hopes of a global economic recovery the nikkei has gained 36 percent since seeing its lowest

in march some pretty lows in the month of industrial and tech are leading the gains over that period now moving over to india the sensex also up for the week the index did break a 6 day winning streak still the market ended up as a former finance secretary garg who predicted the economy would contract by 10 percent for fiscal year 2020 and australia the a.s.x. $200.00 followed that same trend also up on the week this is despite economic data showing the country entered its 1st recession in nearly 30 years in the 1st quarter of 2020 the australian bureau of statistics reported the economy shrank by point 3 percent. at the j.i.c. all shares in south africa also finished out the week in the green the rand has been rallying as of late as the country practically lifted lockdown measures now let's take a look at western markets let's start in europe london's footsie the french cac and

the dax all surged on friday this was following us may unemployment numbers the shocking 13.3 percent this is that much lower than the expected 19.5 percent the footsie climbed 1.8 percent dax gain 2.8 and the cac jumped 3 point one percent the indices also saw some gains on thursday this was following the european central bank 600000000000 euro expansion of its stimulus and living across the atlantic let's move over to brazil where once again we're seeing a green arrow brazil's surge up to 3 percent on track for its biggest weekly gain since 2008 latin american currencies rallied on friday this was due to a surge in oil prices and despite countries still reporting thousands of deaths and cases of the krona virus in mexico the b.m.v. saw some pretty big gains on friday again on those u.s. job numbers and a spike in oil prices here in the united states then let's move up to here where the 3 major indices are the dow the s. and p.

and the nasdaq all in the green looking at some all time highs nasdaq hit an all time intraday high at one point on friday the dow alone surged by more than $900.00 points boeing and raytheon technologies contributed highly to those positive gains as well as those unemployment numbers finally finishing up in toronto where the t.s.o.'s also for the week all markets in the green this is following a similar trend on u.s. job numbers and oil prices seeing their 3 month highs and that is your global market walk. time now for a quick break but stay here because when we return protests continue after george george lloyd death exposing race relations worldwide artie's rick sanchez. joins us and i asked why well as we go to break here are the numbers out there.

some people are gone this protest across america right now bolshevik revolution to make a reference to the workers uprising that we saw in the old imperial russia. and you've got a new imperium here in america. can tell you there and the workers suddenly realize that wait a minute we don't want to live under a dictatorship we don't want to live under a monarchy a good old fashioned bolshevik revolution which is what's happening because. according to several sources felice new united states kills from 2 to 4 people every day my. head his hand. sanitizer grinned just such what am i being arrested for it's a response from me and. that is just their little world to establish

they develop just so you can stumble. along for 2525 years. or have to shoot someone holding you close to 0000 there is a corruption inside of this eliseo the culture is to. say. 50 for drugs and more than $1000.00. 100 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 of a did 11000000000 barrels of oil. take a look at this who really owns what china 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. as we continue to follow the demonstrations surrounding the black lives matter movement the protests here in the united states have inspired marches around the globe as they too look to highlight racism and inequalities in their countries

actually banks joins us from dallas where she is following that part of the story. actually there's a really huge movement happening we haven't seen this just in the united states we've seen it across the world. that's right sara we have seen protests across the globe including countries like the u.k. germany the netherlands and italy canada and the list goes on although a lot of people think these protests are over the death of georgia point it's a much bigger than that police brutality against people of color isn't just an issue here in the united states of america it's an issue across the globe now people want to see an end to this and they want to see an end to the stand make the reasons whether it be with the law enforcement. the political system or the educational system the world is still in the middle of a pandemic the people are willing to risk their lives in the name of justice they see too many people have died and enough is enough i want to mention people aren't just protesting in the streets they're demonstrating out in the season even going

to their local politicians homes and demonstrating trying to send a message that things need to change sarah actually how is the united states responding to this global movement. so that us is responding pretty positively as people around the world there are holding up signs during their protests saying things like black lives matter and your pain is my pain your fight is my fight this is this has given many americans feel to keep going and pushing forward once again in the name of justice now here in minneapolis i have even witnessed demonstrators walking up to media working for international networks thanking them for bringing coverage to people that live outside of this country now reverend al sharpton we discussed yesterday that this movement is different from some we've seen in the past saying that the problems are diverse if you really think that these protests across the globe are going to bring about real change you know there are people here in the states and around the world are marching for george noise everywhere

and people who have been victims of police brutality back to you say actually banks reporting from minneapolis thank you for that report. now let's turn to our tease up rick sanchez host of the news with rick sanchez to continue the conversation rick good to have you back now these protests they've now spread globally what is the root of the fanaticism that we're seeing that has suddenly awakened the world. it hasn't worked in the world that's a misnomer we who work here. because we're a global network the news rick sanchez in particular we've been covering this now for the better part of the last 6 months. you. say that george floyd incident was the catalyst for something that was already going on with all due respect to the reverend al sharpton these protests that are taking place around the world. are not taking place because people feel bad for george floyd.

they're taking place because people realized what happened with george floyd and then people around the world saw how the police had reacted then people around the world saw the president of the united states essentially sick his security forces on peaceful protesters and brutalized and knocked down an australian reporter. and that's when people started asking the question about what the hell is going on in the united states now with that said here's the origin because i think that's what you asked me and i think that's what we're trying to get down to here the origin of this is very simple for the longest time we our nation this country that we love and adore so much has become a very militaristic force around the world. if you are in honduras and you lost a child during the obama administration's essential coup in that country where they

removed a president put somebody else in a lot of people died you were george floyd is the person you knew whether it was your son or your brother who died if you are from chile and during the again the regime in the united states essentially went in there and all but assassinated he committed suicide that we all assassinate the president created a huge few thousands of people died you knew somebody there that's your george floyd if you're from the dominican republic if you are from iraq where you know that maybe tens of thousands of children died when we bombed the country and said that it was because they were the ones who attacked us on $911.00 which we know that was not true so if you're from iraq you're looking at this i'm going that's my george floyd so when we see these protests around the world we know because we follow global politics and we've been following these stories for quite some time this is a reaction to george boyd because george what was the spark was the catalyst but the true meaning of all of these protests that we're seeing is people are

uncomfortable that this is something that we have to account for as as americans people are uncomfortable with the fact that our foreign policy has been extremely abusive in many many countries where we have created the same situation with entire civilizations with entire groups of people that we saw the minneapolis cop do with george will i hear what you're saying that every country has their job. lloyd but even even that aside these countries are also protesting for their own rights in mexico for example people are taking the streets because so many women have been killed these they've been brutally murdered by police officers so this this i think is i hear what you're saying but i think it also speaks for countries who are dealing with their own issues of either police brutality or some sort of violence and much like i said the women taking to the streets who have been a lot of who have been killed groups of women the women's movement more so just on our neighboring country. yeah your point is well taken and i think what what

happens as a result of that essentially we're both arguing the same thing that if you were to turn on c.n.n. or of us embassy or fox news right now they would tell you everything to the george floyd incident without looking outside of that the danger with that is that we will then think that oh they just passed a new policy that says you're no longer allowed to use that chokehold ok everything is solved no everything is not solved because the underlying problems including the one that you just assume that's still an underlying problem and until we attack that route we're essentially going to continue to have these situations as we've been reporting on once again for the better part of the last 6 months well rick let me ask you this the other day you and i were having a conversation just a few days ago about the. military's ation of police and going back to training suddenly something's happening in minneapolis for example there's an idea now that's been floated that they want to disband the police department they essentially have an organization of what seems to be volunteers is what they're

looking at that would perform these neighborhood watch of nonviolent individuals right is a volunteer community in force even feasible how would this even work. well i mean it sounds silly. volunteer means privatized privatized means now i own the police department and if i have enough influence on that police department or if it happens to be my brother on the police department and i don't like my neighbor because for whatever reason i'm going to sic the police department the privatized police department volunteer on my neighbor we've got to be careful with something like that there are things the government does well there are things . private organizations do well and in a case like this i don't want my police department to be privatized i don't like what's happening with the prisons since they have been privatized so i think it's essential. so to keep the police as

a form of our government i also think it's important for us to realize that police officers can't do everything i've been watching videos on you tube yesterday i saw where they called the cops because the guy was fouled during a basketball game there are videos of schools teachers they can't handle the student he's unruly they call the police these are not police functions we're over policing because i know as i have says by name or a law and order that we're seeing is also much higher while the welfare spending has declined how can how can that be what now l.a.p.d. is looking to defund the l.a.p.d. i mean what's the solution here quick answer rick no i think the solution is to look for let's let's start with the problem the problem is crime right we have too much crime in america we really don't the numbers are way down as a matter of fact so the numbers of crime the way down but the number of hiring of police officers is way up ok so if we say we want to be able to attack whatever

nefariousness in our society we want people to be better we want to create better citizens we want to create non-criminals you start at the beginning you don't start out on the backend you don't wait for them to become criminals so what we need to do is perhaps even using some of those cops or hire less cops and hire more people that work in communities they hope for sharing many communities become a part of the community as there are good cops and i don't know but. i don't i don't trust the new they're going to baghdad terry guys that were vietnam and you get out of there going to train cops where at other times you do i'm sorry to interrupt you and i have great great great conversation thank you so much rick sanchez thanks again for coming on that's it for this time catherine west on demand and an incredible t.v. app available on smartphones on youtube dot com slash from the start he will see you next time.

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i. i the u.s. braces for major demonstrations over the death of. health officials and civic leaders worried that the crowds will cause a spike. protests in neighboring mexico over the death of a man please post reportedly arrested for not wearing a mask in public. and facebook starts flagging up pages it considers to be state controlled media including but also ignores other government funding.