there you know as we always like to say we do believe by golly it's time to do news again. this is boom bust the one business show you can't afford to miss more in washington coming up the world that. is not a luxury item. as some nations have begun to reopen their economies a surge in copenhagen 1000 cases has followed we take a spin around the globe and see which hotspots are seeing a coronavirus comeback plus we analyze how markets have reacted in the wake of the outbreak but could there be a darker horizon ahead and later the u.s. is no stranger to surging gun sales but how much has the pandemic driven the sector

we have so much to get to so let's dive right in. and we lead the program with renewed concerns about a 2nd wave of corona virus infections as the world health organization reported a record number of new cases sunday. yesterday more than $180.00 times in new cases of quote good would be pulled to be too. easily the most you know a single day so far. more than 8800000 cases 70 be pulled to 2 w 2 and more than 465000 people have lost their lives. some countries are continuing to see about getting increasing cases and as some countries that have successfully selfless transmission are now seeing an absolute. open there's websites and economies. there as we just heard this marks the largest daily increase since the start of the outbreak according to the w.h.o. brazil had the highest increase in new cases followed by the united states and

india the w.h.o. director general also spoke about the need to maintain measures to limit the spread of the virus while the world attempts to resume some sort of normalcy we continue to urge all countries to double down on the fundamental public health measures that we know work. finding and testing suspected cases this works isolating and caring seek works tracing and quiet and tuning contacts words and protecting workers words on the same time these measures can only be effective if each and every individual takes the measures that we also know world to protect themselves and others. and with these increased numbers coming as academies continue to reopen or at least enter a new phase of the reopening process let's take a global look at the spread of the virus with r.t. correspondent saya tavenner. so there's been a lot going on around the world you know in france and millions of students are

actually returning in school germany is scrambling to contain an outbreak in one of the country's largest pork processing plant and health officials in south korea announced that they are battling a 2nd wave of the virus and in india people in desperate need of treatment are being turned away due to overload in hospital capacities while good news coming out of new york city as about 300000 workers are expected to return to work next monday as the city begins a new phase of reopening and a look at the numbers here is where we are globally the u.s. still has the most cases followed by followed by brazil russia india and do you k. and the u.s. accounts for 20 percent of new global cases around the world now the big difference between this list where it lists the cases around the world is another list which

is new cases that are coming around the world now the only difference between here and i'm going to have them continue list up here right now which is going to give you a comparison of the top cases versus the u.s. cases coming up going to them do that right now see if you could compare if not we'll go back to it later but the difference between those 2 lists is that the u.k. is on this list with the number of cases blood with new cases coming out of that country they're no longer there instead chile has joined the list with new cases and right here there you go so u.k. is no longer on the list instead we have a chill day in the u.s. still has the most cases it was a result but overnight us went up on the list followed by india russia and chile and brand 5 states in the u.s. have actually also reached a new milestone here in the. as with seeing their highest 7 day average now in

california in california the number of people hospitalized is the highest it's been since to pandemic and on sunday the had the most new cases in a single day which is why we also saw california mandating that everyone wear a mask in public and then there is florida that that on saturday reported the most in a single day that that state has also seen in fact miami's mayor just announced that his city would not be moving into its 3rd phase of reopening because of the increase in new cases and then we have texas which which saw a 37 percent increase of when you compare new cases compared to just 2 weeks ago in arizona which health officials are also warning could become the new ethics center of the pandemic which were to reach 85 percent of capacity of their i.c.u. patients and hospitals lastly south carolina broke its record with new cases

reported on saturday now this same 5 states that have the record number of new cases well they're also open way before the flood and occur and before that enough testing and tracing infrastructure in place but in the case well california is just a little bit different of course the increase is contributed to the reopening of businesses way to early but there's also a new outbreak said nursing homes but california has a lot more testing so more testing more cases of course then there's another trend going on right here in the u.s. the rising percentage of people who are testing positive for the riders a lot younger than before you know going from about a 65 in april to now they're under 30 now in some states which has been linked to younger people going out to restaurants bars and attending lots of parties without social distancing so all the younger people. tend to recover a much better and are mostly asymptomatic by there's also

a problem because once the younger people they become infected then they go home to their family members and then they infect the older population then you get older people get the complication and and that's when the hospital's theys go up but as of now brand the recent rise of cases among young adults could actually lower this rates that is until young people go to infect others then that's a completely different story brand correspondent saya temperature thanks so much for keeping us up to date. despite a record number of kota virus cases u.s. equities are in the green so let's take a look at what's driving games with tobin's this c.e.o. of transformative research co-host christy i thank you both so much for joining us today i know christine i want to start here we're seeing the largest single day increase in global coronavirus case on sunday according to w.h.o. but apparently the international financial market doesn't seem to even be worried

what's going on here. well aside just mention this uptake in case it seen what wind comes as many of the previous restrictions and quarantine orders have now been lifted the markets are being really biased now and surging on the hope and optimism at the slightest hint of a good news at the slightest hint of reopening but it's not really reacting to any new bad news as it should be and most of it is due to central bank policy and this seemingly unlimited amount of stimulus being poured into the market daily the fed balance sheet jumped from 4 trillion dollars and march to 7 point 2 trillion just last week acting like a big keeping everything afloat so for traders it's actually kind of difficult to short to try to sing get going toe to toe with the fed now the market has completely decoupled from reality and this this 40 percent rally from the march lows is really not supported it's coming out of the u.s. economic health is at a low point with millions of people out of work and bankruptcy is likely to continue as businesses can't fully real thin and disposable income is getting tight

and i mean it really is a perfect recipe for the complete destruction of the middle class noto but i wonder if some of that up here because we just saw jeremy grantham the investor who called the last 3 financial bubbles come out and say that this 4th bubble is the real mccoy and that long exposure should be at 0 and he actually said if you can muster it less than 0 what do you think of that do you agree it what you make of this statement. well 2 things i respect your me tremendously i've worked with him for years but he's always about 2 to 3 years early that's how germany works remember he came out and said in 2006 we were in a bubble you actually were in a bubble remember a bubble is just simply went higher prices create higher prices so we are in a bubble in the sense that you know we've never had stimulus like this we've never had fed money we've never had $1200.00 checks sent to people but if you look at history and jeremy will be the 1st one to tell you this is in the event driven bear

market over the last 200 years and jeremy has a bet been around i believe for 189 years you have these event driven markets to dive and they bounce back and we've had many of them we've had world wars we've had you know pandemics we've this is happened before the market is not disrupted from reality i'm sorry the market is doing exactly what the market has done for 200 years remember were a measurement system looking up 24 months the stock market is not today's economy the stock market is valuing 24 months 18 to 24 months in the future and they are betting on a sharp recovery and you know why because you've never had just much money where i just watch stimulus we never had the the federal reserve say the worst case scenario can't happen we're not going to let it you had all of the other and you have you know a bear market to a bull market in 3 days what's unusual about that kristie what do you make of this talk of a 4th bubble where do you see as you agree with. i think we are literally at it's

really difficult to call the top of the bubble when it's going to burst because he's right higher prices does just continue to drive higher prices and as we just said the fed's money is just going to be a constant booming so even if investors think that this is a completely decoupled from reality it's really really difficult to go short because you never know when the just the inject my stimulus inject my policy and you're just going to mean the market like what a let's let's not forget this. senators are going to have to vote in the election year are they going to not send more money are they not going to do more unemployment and we see more money in april that any month in the history of the united states can you believe it so yes fiscal monetary stimulus is the oxygen and interest rates are the gravity of financial markets and it seems like dollar funding pressures of actually eased off and the health of the dollar has actually kind of been restored at this point is this going to last or are we waiting for the other shoe to drop a some would say. well. what you learned long time ago like i want to want is for

the dollar to go down something else has to go up right because it's a they're going to change so when the dollar goes down in 30 that's good for francis energy because now we're going to have higher prices because it takes more dollars to buy a $50.00 a barrel of oil right now we are still the clean assured in a dirty laundry number one number 2 there's no question that down the road we're going to have issues about how much debt we have but the 3rd issue is you've got to do that in comparison to everybody else if you look at the euro you look at japan in a 25 year you know essentially recession slash depression china who else is going to have 85 percent of the world's transactions and be able to have liquidity of 25 trillion dollars a day nobody so until somebody can do that and china wants to do it of course but you know i want to look like like counted i want to look like you and i'm going to have all right so you know the issue here is that yeah it's like it's like you know

capitalism it's a really horrible system except when you compare it to everybody else and we're sort of in that same situation right now so when you know flattery will get you nowhere around here but i do have a quick question for you which has been who are continuing to see lots of strength in tech during the pandemic the nasdaq is on a 7 day winning streak what are you telling your subscribers right now to look for when it comes to big tech. well in essence what has happened is we put a microscope on top of all business processes and a company like look at the auto dealers they use it i would only dollar stump people want to test drive cars now they've completely changed their business model all companies who are going to survive are going to have to become this digital budget but a little business process underlying everything they do and so the technology companies that enable that everything from a company like fastly which has just been on a tear recently which we're starting to you know talk about and recommend because

there is no alternative now you know we used to say tina there is no alternative to stocks now there is tina for digital out of an automation of your business there is no alternative if you don't have it you're going to be out of business and everybody understands that from the very top to the very bottom and that means you have to own microsoft you have to own you know docu sign you have to own companies that you know crowd strike to prevent you have to own all those to v.p.n. fortnight you have to have that it because there's no alternative and oh by the way they're selling for $25.00 to $30.00 times their revenues but their revenues are growing 30 to 40 percent so you get a discount that back at look you know a lot of them are too expensive we are buying some lower priced ones that have the same glide path but we're paying 5 times told them to submit the transformative research with co-host christine we can we do this all day thank you so much for that expert analysis. thank you. time now for

a quick break here because when we return the u.s. is no stranger to surging gun sales but how much of the pandemic driven the we have in-depth analysis coming up and as we go to break here the numbers at the close. well here's the funny thing about in this economy in america is that when a person pulls on debt credit pulls or credit you know they borrow money. or negative in the case of many people they get paid to borrow money as we saw with

jamie dimon and j.p. morgan. disadvantage. to play a minority person or a particularly a black person is drawing credit 2025304050 percent 60 percent of payday loan that's 2000. he said he had to quit. for good and each other the. one. that on the better side going to the quickly that. instead of. the emotion learning to. go out it was totally clean. but of course to slow. or forgot. to mention that. we. soldier.

she's wearing. so the sold out so to move the opposing opinion with you i'm going to show stuff in the summer and tell you sport just sort of us hold. and welcome back while the crowd of iris pandemic has wreaked havoc across multiple industries some have seen an increase in sales over the last 3 months at the beginning we saw p.p. cleaning supplies and even toilet paper become incredibly hard to find and home orders continued hair dye hair cutting shears and electric hair clippers started flying off the shelves as a trim became necessary but an under another industry has seen a surge in sales amid the pandemic expense want has been following the numbers and

files this report. or gun sales this year have been absolutely surging in fact to the 2nd highest level ever on record in the u.s. now the last time we saw a massive surge in gun sales was in 2013 that was right after the reelection of president barack obama and after the sandy hook school shooting. but what makes 2020 different than 2013 is not only have we seen the 2nd largest surge in gun sales in u.s. history but a 2nd surge has begun just this month so let's take a look at this the 1st search took place at the beginning of the coronavirus pandemic lockdowns at the same time that millions of americans began raiding stores grabbing up toilet paper and hand sanitizer in fact grabbing all that they could carry millions of other americans began buying huge numbers of handguns shot guns and ammo americans bought about 2000000 guns in march according to a new york times analysis of federal data it was the 2nd busiest month ever for gun

sales trailing only january of 2013 just after president barack obama's reelection and the mass shooting at sandy hook elementary school according to monthly sales figures from the f.b.i. in many states estimated sales doubled in march compared with february in utah they nearly tripled and take a look at this in michigan which had one of the most strict responses to the lock down numbers there also tripled the international firearms specialist academy website saw a 50 percent rise in people taking online training courses during the pandemic the classes teach gun safety standards and how to identify specific gun models now none of this is too surprising considering the fact that in the united states anytime there is some kind of major of them that stokes fear and concern among the public including about fear of their neighbors or fear of government overreach we suddenly see a surge in gun sales it's not terribly uncommon but again what makes this situation different is that while we did see a big surge in gun sales in the 1st part of this year as

a result of the pandemic those numbers have begun to drop in april and may and then right around june began to spike again this time over protests 2 things here seem to trigger the latest violence free one the protests which devolve from peaceful to violent in some places. as store fronts were destroyed and secondly warnings from president trump that he would deploy the national guard into the streets to put down protests calls from people across the political spectrum online many times came back to a simple statement looks like it's time to buy a gun during the last week of may firearm sales were up 78 percent over $21000.00 while the f.b.i. data for gun sales in june obviously has not been released gun stores are reporting massive numbers of sales including one store owner alone saying 9 millimeter and 45 caliber handguns have been sold by the hundreds as well as home protection shotguns

and sales of a r 15 rifles have skyrocketed to the point where just keeping in the tory in the stores is a huge problem one other important note here many people think that when we see these surges in gun buy across the country it's because you have gun owners who are going out and hoarding guns or buying up large amounts of guns to add to their collection or a cache of guns in their homes but that's not necessarily the case this year in fact one gun store owner says that 60 to 70 percent of all sales at his gun store are not from repeat buyers but from 1st time gun owners. and let's go ahead and bring in boom bust co-host ben swan to discuss this further now ben you actually kind of touched on it a little bit about government overreach on concerns and that nature but why does a pandemic spur gun sales i mean what do you see as the rationale here. yeah i think it's the same reason that people will run out and grab a bunch of toilet paper right why why would someone do that well because the fear

is that we're going to run out and that if the government locks things down i won't have access to be able to protect my family with getting them the things that they need what part of that fear also realized and what if it goes even further than that what if people attempt to take from me what i've collected what if there is food rationing that's taking place and someone comes to take from me so there is a especially american idea here that says i have to protect myself and i have to protect my family because i can't count on someone else whether it's police or government to do so and gun sales spike when that happens you know how do these sales spikes due to social unrest which you touched on later in your piece there compared to previous situations that we saw in say ferguson missouri or baltimore maryland just a few years ago. yeah it's i think it's different for a couple of reasons number one what's made this particular set of protests so i think starkly different than what we've seen in the past is the fact that they came on the tail end of these lock downs which we've never experienced before so you

literally had months sprint where people were not allowed to leave their homes and felt like there was already a certain amount of government overreach and government control being pushed on to them then you see the protests that taking place now what's fascinating about this is that the people who are calling to go ahead and buy guns come from both sides there are protesters who say we need to be armed because drums talking about sit in the national guard to stop us and then you have people on the other side who say hey police right now there's talk of defunding policing getting rid of police do protesters think they're going to come to my home and destroy my home and so you have both sides literally arming themselves because no one is sure where the actual order in society comes from and whenever there is fear of a lack of order in society more people say then i will have to create order on my own no ben there was a time when the gun lobby and specifically the national rifle association what kind of stoke sales as these types of situations would happen when you would see a mass shooting or when you would see not necessarily pandemic of a social unrest you would see these kind of but it appears over the last few years

and i want to say specifically since the shooting at the moment douglas high school in florida they've kind of been very very quiet why is that. yeah i think there's a couple of reasons for that were i mentioned in the piece of the last time we saw this major surge in sales would go back to 2013 president obama was reelected the sandy hook shooting took place and then there was talk at that time of banning eyre 15 rifles and we saw this huge surge in gun purchases and ammo purchases because people were rushing out to go ahead and buy these weapons before they became illegal because it was also said don't worry will ban new purchases anything that you already own is already grandfathered in so you had a huge spike of people going out and buying these what has changed. though i think is that over the past couple of years we've had more of these incidents and yet the legislation has not come so i don't think people necessarily feel that same fear what's different here is we have never had to shut down because of a pandemic as for the n.r.a. i think that they have really gotten beat up since 20122013 have taken

a more low profile position because the news and the p.r. that they've gotten has been horrible for them. spence one thanks so much for breaking all this down for us. my pleasure. and finally virgin galactic announced monday it has entered a partnership with nasa to develop a program intended to push for private missions to the international space station the richard branson backed space exploration company issued a series of tweets saying it would work with the johnson space center to identify those who would buy private missions as well as developing training packages for would be space travelers now this is not the 1st partnership between the 2 entities virgin galactic entered an agreement with nasa in may to develop aircraft for potential civilian use nasa has of course been working with private companies in recent years just last month musk space x. ended the agency's 9 year hiatus of manned spaceflight by delivering 2 astronauts

to the i assess on the news of virgin galactic partnership the company's stock shot up as much as 15 per cent at points throughout the day and that's it for this time you can catch boom bust on demand on the brand new portable t.v.'s on smartphones through google play on the apple app store by searching portable t.v. or you can simply go to portable t.v. for more information see you next time.

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a part of a global news platform you can submit to your published works in either video or format go toward go to r.t. dot com and it a no. gun remain migrant to knock down clash with police in the german city of gottingen over the continuation of their strict quarantine following and i break of the virus in their community the coming coronavirus pushes many small and medium sized businesses in italy to the brink of bankruptcy would be increasing numbers not reopening their doors even though they're now allowed to. this was our only job for 3 months we've been continuing with the money we had but you cannot continue because we would risk going into no more. questions are raised over the future of the us presidential hopeful joe biden.