we go to work so you straight home. it's hard to take some from somebody if you know have some to replace. the want to do this interview today and all these market and then they take me. off the area. so how can i tell you stop selling drugs if we'll have some to put the money in a box. they just mean all the way to life it's almost been basically mccullers feast before us no words to us what suited me security positions i've been in that. day jack me again. you see people get all their cars and i'll see you coming in the heart and it seems like they'll hurry up and

run into the house like they don't want to they don't want to talk see her get your mail or anything like that. i just want to go. back and do that. just try read a. good chance someone give me. and this is the one bit the show you can't afford to miss more in washington coming up also the ongoing global adolescent kroto virus has been the oil price war between opec members we catch up on the move. moves in the oil sector and where demand

stands amid the drop in travel plus i g.m. has announced that the company is stepping out of the facial recognition game after growing outrage surrounding the practice we take a dive into the controversial technology and how the firm's stock is reacting we have a fact show today so let's dive right in. and the united states has officially entered a recession in february of this year ending 128 months of economic expansion which was the longest run in more than 150 years according to the national bureau of economic research now the announcement from this organization comes much earlier in a recession than they generally like the any b r wrote about the situation saying the unprecedented magnitude of the decline in employment and production and its broad reach across the entire economy warrants the designation of this episode as a recession even if it turns out to be briefer than earlier contractions now economists generally define a recession as 2 consecutive quarter months of 2 consecutive quarters of economic

contraction g.d.p. in the us has already fell by 5 percent in the 1st quarter of this year and the economy is expected to climb by a steeper margin in q 2 of 2020 let's get some expert analysis on this and and the state of the economy with todd morris chief strategist at bubba trading and co-host christiane who joins us from los angeles thank you both for being here today but i want to start with you now the n b e r declared that the u.s. recession began officially in february now this marks the fastest the n b r has actually declared any recession is this a good thing as the faster the drop usually the faster the bounce back. from a bag listen i put very little stock into what any account is really said because they're not calling it until it's already over and they're sure on your show with you i said that we're going to recession back at the end of january it was easy to see that they were starting to break down and of course on the ground by. it was

really kicked in and we saw the country shut down which is automatically by itself going to create some major problems creating a recession again this steve this is how fast they bounce back nobody really knows the answer to that and we'll see where we go from here but at the end of the day we're are starting to see the country start to open again we're seeing more action in the market and we're seeing the actual account people start to go to work so again is if the virus stays away and we can continue to open and get the country fully open then the recession will be over however there are always the chances that we could have a rebuild this virus and they asked again and we could be shut down again so those are the issues that are really concerning the economy overall we're still very strong i mean are you looking at what we would talk about the possibility of a recession which i mean you've been on this show many times talking about this even before the coronavirus pandemic was it was a huge issue but i mean are is the credit virus really the only. point that matters right now when it comes to opening or closing the economy versus any other

economic factors that we've seen because of this a fed intervention. well again i think it is the fed intervention right i mean look you are you poor enough money and the equity markets go crazy as we are very watching what is the good today again the general main street academy there is a lot of problems out there are still and there are still issues that have to be solved and they're not over there are far from over but again are we talking about main street or are we talking about wall street and when it comes to wall street they care about one thing that's money and the only way you can make money today is put it in the stock market which is why we can do to get propelled higher because they can buy cheap and get that return from the equities and again you're forcing every investor if you want any yield on your money you have to put it in the stock market because there is no place else to go all right now kristie obvious i will bring you into the conversation and bubba's obviously the stock market hard here but but what are we seeing in markets today it seems like that rally that we've seen that bull run over the last couple of days at least is fading. well the u.s.

equities are under quite a bit of pressure today and we're seeing the reversal of what happened yesterday so a lot of the names that hit all time highs yesterday and such as like trans ocean that rose about 50 percent yesterday they all reversed course and tank today and vice versa with a lot of the stocks that drop yesterday meanwhile they're flying sky high today so you do see a little bit of a reversal in the markets right now especially across cruise lines airlines and all of which have made really broad gains on monday and today they're under a lot of selling pressure however on the other hand you also have apple and amazon and the rest stocks all banking all time highs right now as investors continue to concentrate back into that whole trusted thing group so right now it does seem like the recovery rally is starting to lose steam and bank of america actually reported that client sold about $3200000000.00 worth of u.s. equities last week for the 5th straight week in a row and selling was reported broad based all across the group between hedge funds and retailers where they have become sellers for the last 8 and 5 consecutive weeks

respectively 2 groups where as financials actually led the outflows with the 2nd largest selling data in data history since 2008 which is very consistent with the record low in positioning in the investor positioning that we've seen right now in the markets so it does seem like even though there is a lot of this market kind of melt out there isn't a lot of participation here. you know. generational bear market in the near future i really do expect that volatility will come back the way we saw it maybe a couple of months ago maybe not quite as bad but are we going to see that volatility really pick up in the markets again. well i think right now of all that he has left the building for now and i think a lot will come down to who wins the election i believe of donald trump wins the election again i think will be back it will be back off to the races and will continue to make new highs because of the way that he tries to run the government and more business friendly i believe of joe biden you have in the election i think we will see that generational bear market i think you will see

a lot of changes because they'll go back to restricting the real free market system and the actual workings of a you for a true market so i think you will see if there's a change in office there we will go into a major market now either way i do think that we're going to probably at some point before this is all over test the lows again and we could see that spike in volatility but until there's a reason to sell the markets are going to continue to drift higher yes we have no viable we have no liquidity but the meantime they keep pushing our imposing our and you can go broke trying to guess where the tab is going to be so it's a lot easier to water price in action and wait for the markets a turn and then reverse oh. you know we just talked about this recession here is actually going to become a depression or do you think that we're going to be fast boats and not have to worry about that. oh it's just that it's very very difficult to predict a top but right now this has been like a tremendous bear balance and if history is any indicator at all in 2007 let's just

remember after the drop that happened in midyear we rallied back to all time highs in that october of that year but from there the market then quickly fell 5055 percent subsequently afterwards and that entire thing took about a year and a half to complete to actually hit the bottom of the market so it's not something that happens that swiftly so we had a very swift drop a very swift recovery which we can call a bounce right now we still might be in a bounce is going to be very difficult to tell where the top is but after that given the amount given the amount of underlie the amount of credit the amount of defaults the amount of unemployment that is still there we are still i record high unemployment levels from the last great recession. and even though a lot of analysts say that those that claim that number may be temporary as they are simply for low numbers only time will tell and so there's still a lot to go there before we actually completely open the economy and see whether that robust co-host christine and chief strategist at bubba trading todd by the horowitz thank you both for your time. and your. and now we move to the latest

agreement to cut oil production by opec plus members as the coronavirus pandemic continues to weigh on demand on saturday opec members and its oil producing allies agreed to extend historic production cuts to the end of july now initially the alliance had cut production by $9700000.00 barrels per day with those cuts starting to wane by the 1st of july now the organization will now cut production by 9 point $6000000.00 barrels per day in july with production being reviewed on a monthly basis now the next opec plus meeting of member states is set for the 18th of june opec leader saudi arabia says there is quote no room whatsoever for lack of conformity in the production cuts from member nations saudi energy minister prince abdul aziz insall mon added that producers who failed to adhere to the policy should compensate with additional cuts from july through september during a virtual press conference on monday russian energy minister alexander novak agreed saying quote we have spent

a lot of time discussing full conformity and how this will be company compensated because the success of the deal and the success of our efforts rests on all countries doing their part now ahead of meeting ahead of meetings international benchmark brant crude hit over $42.00 per barrel while the w t i was over 39 dollars per barrel hitting the highest points since the 6th of march now both the bread and w.t. i have since leveled out to over $40.00 to $38.00 per barrel respectively now for more on all this let's bring in professor bill heffernan senior fellow at the kleinman center for energy policy at the university of pennsylvania bill thank you so much for joining us today really appreciate it i want to start with these latest production cuts do you expect opec plus members will quote conform and continue at the a lot of production levels through july and beyond if needed. thanks friend my senses that's highly unlikely for a century for all sorts of card talents and biggest problem is cheating. and

trap really i guess the leaders here to sound he's in russia are sane and must be conformity but there isn't a a. quite quite effective way to require that and that's going to be a challenge. if the saudis and russia can create conformity and force conformity that will be a surprise and now it appears this week that russia and saudi arabia are kind of on the same page but how did this oil price war between the 2 nations get to this point and can we expect continued good relations or as we move forward and maybe somebody doesn't conform are we going to see more tensions arise between the 2 nations. when you say on the same page i guess that pages had a heck that we find ourselves in this summit to say. you know they both.

agreed to something with incredibly bad luck on the timing and so they began this. this chicken race basically the price was right as the pandemic once showing its head but not given any indication of how severe it would be now as you can see in that nosedive. that really happened after the initial one price war and happened more totally pandemic driven in my opinion. so they had that bad luck on the start but then they had. pretty good luck when president trump decided to offer to intervene and he made also it's a commitments that. cannot be enforced within the us and

i think the saudis and russia were happy to just say ok we have a global agreement with the 3 big players and nobody really anticipates president trump conforming with his assurances so. that and that may be the out here thing they are not sure bill why are this dispute between the 2 nations why do they had such an your expert opinion that if the say had such a big impact on global oil markets i mean obviously opec the big players are going to see that but but is there more to it at. yeah i think this is really a story of depend on it chilling demand the movement and then anybody you know packed increasing supply and you know collateral. damage or benefit here is effect on us shell production which really was very severe and we heard all this because the economics do not make sense when you

get down in the $20.00 an inch but be get back to $40.00 a line of the independent producers in your past and find a way to get production only in dance is a real conundrum for opec plus for how they proceed here and now you just actually talked about the u.s. shale oil producer that we were where you it was reported that a record loss of $26000000000.00 in the 1st quarter for those u.s. shore oil producers that in 2025 the man collapsed at a pandemic how do these latest cuts actually affect the u.s. producers do they help them because they are driving oil prices up as you just mentioned. dance exactly how it's said. and wants to direct cause and effect relationship going to take one with production traces increase in trees traces cause us share production to increase

absolutely bill had him and senior fellow at the climate center for energy policy at the university of pennsylvania thank you so much for joining us to break all this down. to one can grant. and time now for a quick break but hang your because when we return i.b.m. has a notice that the company is stepping out of the facial recognition game after growing outrage surrounding the practice we take a deep dive into the controversial technology and how the firm stock is reacting as we're going to break through the numbers that. seem wrong. to shape out this day. and indeed.

find themselves worlds apart. from the common ground. is it real or is that. stay or should i go is it real or is it fake that's the question of our. 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. welcome back as the death toll from the coronavirus surges past a 400000 across the globe researchers are racing to find a vaccine it's been almost 6 months that the credit virus outbreak spread from the epicenter in china and now hundreds of clinical trials are underway at least 40 of

those to find a vaccine modernity johnson and johnson and the oxford astra zeneca group have received a total of $2200000000.00 in federal funding in addition to their vaccine programs work and pfizer are also being given government money for clinical trials but before a proper vaccine is discovered a russian by. tech firm may be offering some major relief arky correspondent atocha sweet has the details on how researchers are tackling dangerous systems symptoms of the virus. one shot can mean the difference between going into the emergency room or having a swift recovery from the chronic virus russian scientists have registered a new drug that may help to alleviate the harshest complications caused by cope at 19 including a lung failure lovely mob is now the 2nd medication to receive state approval giving doctors more options when it comes to tackling the virus researchers behind the drug say they're ahead of schedule as it's already been going through clinical testing for 2 and a half years looks the horse is

a good book or the reason i'm dismissing this drug was originally designed because what we're really weren't sure what's going on our colleagues or our what some are still going to do is go to my 19 most also brittany's begin to historians but it is enough that i believe the variance of a result must. developers say no side effects have been found during their studies and they're hoping to make this available in hospitals as early as july and in moscow kovan 1000 survivors are forming a support force armed with antibodies many who can and are donating blood to crown of everest patients in need of help pavlov is given blood for the 1st time after overcoming the corona virus is and i know that there are many people in hospitals hospitals are overcrowded and the coronavirus disease too affects people differently in terms of severity some people have it in a much more severe form you deny what so if i can help why not and well not every code in 1905 or is able to give blood doctors say so far roughly 300 transfusions have been done in russia's capital plasma has been collected from about 600 donors

so far. in light of protests across the country i.b.m. has made a major announcement the tech company penned a letter to congress saying it will no longer offer general purpose facial recognition or analysis software i b m c o r been krishna stated i.b.m. firmly a. does and will not condone uses of any facial recognition technology including facial recognition technology offered by other vendors for mass surveillance or racial profiling violations of basic human rights and freedoms or any purpose which is not consistent with our values and principles of trust and transparency joining us now to discuss this is boom bust co-hosted investigative journalist ben swan. ben i.b.m. stock obvious take a hit today after this announcement why is that. yes so i.b.m. was down about 4 points today it looked at the end of the day i.b.m. made the right decision and they they're paying at least a short term price for it but i absolutely think it was the right decision

essentially coming out and saying look facial recognition technology can be and will be used and abused in the future and so we don't want to be a part of that as a company we don't want to contribute to essentially profiling certain groups using mass surveillance on the public i hope that i.b.m. as they do this will stand firm in what they're doing but investors obviously were not thrilled about it because let's face it recognition is a huge part of the tech industry and moving forward it's going to continue to be a huge part of not only the tech industry but military use and law enforcement and i.b.m. it's spend so much time and money with their technology which is a huge portion of facial recognition technology as well now there's some concern that facial recognition technology is actually not reliable why is that and did that include. did that include what i.b.m. has put out and for as far as facial recognition. it does include what i.b.m.

has put out in terms of their own facial recognition technology look here's something that's very important that the public understands when it comes to facial recognition technology for the types of programs that have been created so far they are notoriously inconsistent and inaccurate depending on which type of pigmentation of skin you have so if you are a person of lighter skin pigmentation facial recognition has to be essentially kind of tweaked to recognize your face if you are of a darker pigmentation then you will get a lot of false claims made by that facial recognition technology so if you want to pinpoint it on people with darker pigmentation you have to tweak it for that and you get lots of false positives on the other side so what you find with facial recognition is that the way it stands currently it is notoriously if you want to use the term racially in the eye. in equal or racial inequality you can find a technology that is more racially and equal and not equal then they should recognition because it cannot right now accurately notify authorities of

a false positive match depending on the race or the skin pigmentation of the person who was scammed now the announcement actually also included a explanation that the company will no longer sell facial recognition software to law enforcement isn't that the main entity that would buy this technology. well that's where their big customers are and that's probably why i became stock drop today look the biggest customers who are looking for facial recognition technology are going to be who it's going to be the u.s. government it's going to be the u.s. military it's going to be police departments and who is one of the biggest players in this space right now amazon and its recognition technology which by the way has been sold to law enforcement police departments and when employees of amazon said they didn't want to do it jeff bezos basically told them to sit down and mind their business and he will run the company so i.b.m. may be stepping out but there are plenty of others who are stepping up and we're not seeing any other company who's getting on board with i.b.m.

to say hey we're we're on board we're going to do the same thing and so if you're not seeing any of that right now now ben there is one more question that i have is is kind of i.b.m. was insinuating hey when there's some laws in place or when there is kind of a ruling on this that we might be able to restart our facial recognition. portion of our business program yeah what are and are there some non you know invasive facial recognition uses that we're seeing out there that aren't don't include law enforcement in some capacity sure absolutely like for instance a great example of that is the facial recognition technology that facebook uses right now so right now when you put up a picture on facebook it will put a little square around your face than it did if i see you based on past pictures right but facebook actually just paid a huge fine recently for doing this because they were using facial recognition technology. scanning photos of people without proper permission so they paid a huge fine for that there are not very clear guidelines in place for how to do this but there are actual kind of practical uses for it where if someone agrees to

it i don't think they have facial recognition would necessarily be a misuse the problem is that law enforcement and military usage is not looking for facial recognition and your compliance they want to use it in order to monitor the public and essentially monitor you and you know 4th amendment issues here so a lot will search and seizure based upon just being able to spot you through a camera at some point that's why the a.c.l.u. has been against it for so long boom bust go so investigative journalist ben swan thanks for keep us up to date on that one. you got to read. and finally a social distancing continues have you just been missing out on taking selfies with your friends well as it turns out apple has recently been granted a patent for software that would generate synthetic group selfies which could be used to take social distancing selfies now according to the patent application an apple user could invite others to be part of the selfie and the software would arrange them together as part of a single photo of the following the selfie could include still photos stored video

images or even live streaming images after the photo is taken individual users could even modify the picture allowing them to rearrange the composition of the photo 'd and of course while this seems appropriate now during the social distancing times apple probably has other reasons for the software they actually filed for the patent back in 2018 this is the company hasn't commented on the story it's hard to say when the feature would be rolled out and how it is intended to be used so it's quite a bit there that's it for this time you can catch boom bust on demand on the brand new portable t.v. app available on smartphones through google play and the apple app store by searching portable t.v. you can also find it at portable t.v. so you next time. i.

probably the greatest success of the civil rights movement was respect for human dignity matter under the rule of law that was then but today the same concept has been turned on its head we were told to change the need or face consequences social change is being turned into a ruling i don't. know what's a clip of she told me yesterday. but the my it's always the cause of the. they call. it the capital.

yes. a reflection of reality. in a world transformed. what will make you feel safe. isolation . you going the right way. what is true what is faith. in the world corrupted you need to descend. to join us in the. aura maybe in the shallowness.

live from the world headquarters of our t. america our nation's capital this is the news with rick sanchez. hello again everybody i'm rick sanchez and i want to welcome all of you who are watching us from all over the world whether on regular t.v. or on portable t.v. the app that carries our program for you as we begin this newscast today we are monitoring the very latest protest worldwide as are some new videos out i don't know if you've seen a new accusations of police officers that have surfaced in the deaths of african-american suspects these are new these are not about george floyd and we're going to have that for you but we're what we're going to begin with a question that many of you may have been asking yourselves about the current.