let me. know. which your thirst for action. this is boom bust the one business show you can't afford to miss and washington coming up markets are slumping on friday after the federal reserve put a halt to buybacks in the midst of the open 1000 pandemic we break down the ruling and what it means going forward and while the airline industry has struggled in recent months some big changes could be coming to the sector we take a look at some issues daunting the airlines and what the changes could mean for travelers we have a packed show today so let's dive right in. and we lead the program with the united

states setting another record for new cases of cope with 19 on thursday with the nation seeing a spike in cases as certain regions attempt to reopen their economies johns hopkins university reported more than 40000 cases on thursday in the us eclipsing the previous record of more than 36000 cases reported in april this comes as the director of the center for the centers for disease control dr robert redfield said he estimates that for every case reported in the country there are likely 10 other infections unreported meanwhile and speaking about the end of the 2nd ebola outbreak the director general of the world health organization just how similar measures have been taken to fight the 2 diseases and spoke about what it will take to see an end of the kobe 9000 pandemic. it's clear that to bring coded 19 and of control and to save lives we need effective vaccines diagnostics and

therapeutics in unprecedented quantities and i'm president to speed. and it's clear that because old people out of 3 schools. all people should have access to all the tools to prevent detect and treated not only those who can afford to pay for them. as we see this surge in new cases let's take a look at the global trends and spread of the virus with our 2 correspondents tab injured so where are we today bren so the global case number it has now climbed to over $9800000.00 cases and the u.s. in the u.s. it continues to lead the world in both reported cases and also reported deaths of course these are all indications that the pandemic is far from contained or over i should say but i want to take you through the numbers and i want to go over the u.s. 1st which this week recorded like you said the highest one day peak since late april

and just compared to a week ago that's a 38 percent increase so all in all at least $32.00 states are reporting increasing cases now that's partly driven by the same states we're going to reporting on all week which are california texas florida arizona north carolina and georgia and right now texas florida and arizona all of which have resisted earlier measures that other states were taken are now actually starting to reconsider so texas reported nearly 6000 cases this week and some of the districts in texas have a nearly 700 percent increase just compared to the last 30 days so i mean that's huge now in order to contain the spread of the virus texas is now also scaling back their reopening plans by closing bars after they had initially been part of the state's reopening plans now meanwhile the florida health department has also

reported close to 9000 new cases on friday and that's the highest one that's the highest single day in. that florida has reported and florida has also had earlier entered into face who are reopening but is now deciding to suspend all alcohol consumption and bars since people really flocking to the bars throughout the state without a proper social distancing guidelines of the florida governor has also once again announced that he will not mandate facemask requirements throughout the state now moving over to arizona which has so far reported more than $66000.00 cases and is really in a state of prices as one in 5 tests are coming back positive brand now meanwhile arizona public health officials say that the state's i.c.u. beds are nearly all full which is why arizona's governor is pleading with the citizens to stay at home if at all possible but once again has not impose statewide

facemask requirements and brant right now whether all this increase that we're seeing will be matched by a surgeon will actually depend on a number of factors like the age of those infected individual risk factors and the availability of medical care all of which will also depend on how the government continues to respond to the pandemic and started now how does the u.s. compare to other places throughout the world so the pend make it still very much alive in other parts of the world too now brazil is still a hotspot for the virus the 2nd highest number of cases after us and as you can see i mean is just surging for brazil now india and mexico the average of new cases is also going up now russia is averaging about the same number of cases while peru only has a slight increase in cases now meanwhile the u.k. spain iran and chile are all starting to somewhat flatten occur but as we are

seeing you know countries that are appeared successfully to contain the spread of the virus earlier. are now seeing sudden spikes as they reopen and lifts lockdowns so all of this that you're seeing could change at any moment's time r t correspondent saya tavenner thank you so much for keeping us up to date. and following thursday spike in share prices for big banks friday was a whole different story after the federal reserve announced an they would impose new restrictions on the u.s. banking system now this comes after its annual stress tests show that some banks may face huge shortages of capital under certain coronavirus pandemic scenarios joining us now just as juba hosted investigative journalist ben swan now ben in short what does this mean and what will the fed require banks to do. so essentially here's what happened in this really comes out of the dodd frank bill going all the way back 220072009 remember when dodd frank was 1st put into action essentially

with that legislation came rules where the fed has to annually stress test banks around the country to make sure that they're able to weather certain economic scenarios essentially and so the fed ran these stress tests and what they found was there was kind of a general sense of economic conditions being rough and then they ran stress tests on 3 different coronavirus related or specific scenarios one would be a you shaped recovery one is a v. shaped recovery and one is a w. shaped recovery meaning that you come out of a recession and then you go right back into it and so essentially they look at these banks and they found that there were at least 30 banks that failed this stress test and what they found was that these banks under certain conditions are right at the minimum level of capital that they're allowed to have under dog frank in order to not become insolvent and go under and so what the fed is essentially doing is saying for those 30 banks they will no longer be allowed to buy back their

stocks and they will limit the size of dividends that can be paid back to shareholders at this time and i know you just mentioned that capping of dividend payments and require large banks to actually resubmit and update capital play of why is all of this well it is simply it's because it is what the fed is finding is that under that dodd frank legislation these banks are not holding on to the capital they need to hold on to right now what they're doing is they're essentially playing too loose with the capital that they have the whole point of dodd frank was to say let's not go back into another situation where banks find themselves insolvent and where and where taxpayers find themselves having to bail out huge financial institutions that are unavailable to take care of themselves so god frank was essentially designed to say that's require that banks prove that they are being response. in the way they're behaving and that they don't have to get bailed out and what essentially the fed found was 30 of those banks are not being that

responsible and they're really in a position especially with coronavirus related economics at play they could find themselves in a very serious position so again as you said there they're capping these dividends they're saying you can't be paying out to shareholders right now you've got to really hold on to what you have is so that you don't find yourself in a position where again taxpayers have to bail you out it's fascinating because obviously you know so much of the economy relies on big banks but if you look at throughout this pandemic so many different industries have called for those bailouts and some of these are gigantic companies who are mainstays here in the u.s. who are saying basically we'll go under if we have to stay close if you're like how are you operating on that razor thin margins at least banks are to some sort being held accountable in that situation now on thursday christie and i actually discussed the rolling back of the volcker rule how does this move by the fed impact that decision. yeah i think that what we're seeing right now you know as you mentioned in the lead up here we saw you know stocks and banks go way of their

doing well on certainly on thursday they were on news of this right and but what is that new saying the news is saying that essentially the feds are kind of laying back and saying remember the volcker rule remember the rules we put in place after 2008 to make sure we didn't have these problems let's loosen that up a little bit or let's at least loosen up our understanding of the rules we're going to change the rule but will clarify gotta love the word clarify which means we're going to apply new terms to this rule but it's so important as you just mentioned something that's critical the essentially during this pandemic itself we do see a lot of industries that are going to the government same bail us out the fact is it was only a little over a decade ago that wall street and banks and financial firms already had their moment and there was legislation put in place that said if we build you up today you have to act like this tomorrow so it doesn't happen again and now just over a decade later we're not holding them to that and we're going to talk about more about bailouts coming up in the show boom bust co-host and investigative journalist

ben swan thank you so much. with so much news regarding regulation in the ongoing covert $1000.00 pandemic markets worldwide are mixed on the week so let's start in russia where the mo x. is up for the week the index launched after our equity trading earlier in the week and the ruble neared a 2 week high on tuesday before weakening on thursday responding to a fall in oil prices but eased up on friday as oil rebounded and the country witnessed a fall in the daily number of new covert 1000 cases let's move to asia where the markets they're all finished up on the weak u.s. regulatory rollbacks for big banks the shanghai composite is green after fighting back from a slip on thursday over the international monetary fund's updated economic growth outlook but saw slight gains at the end of trading the composite was closed on

friday due to the dragon boat festival holiday in hong kong the hung song finished up just slightly for the week investors remain cautious over the coronavirus outbreaks in the u.s. and around the world and the market was closed thursday for a holiday and slipped into negative territory friday alibaba shares contributed to that slip dropping nearly 3 percent in japan the nikkei is also up for the week gaining more than one percent on friday softbank group contributed to the big gains there with shares raising more than 3 percent the topics index also gained just shy of one percent on friday alone let's check in in india where the sensex ended slightly up on the week the index extended gains for its 4th week 2 of the best performers on the sensex were infosys and bank infosys alone surged 7 percent on the week meanwhile the a.s.x. in australia is down just over half a percent for the week after thursday's sharp losses the index gained 1.5 percent

on friday adding $26000000000.00 in the final. still not enough to rebound from thursday's losses and bring the index back into the positive territory the all shares in south africa is just slightly down on the week on wednesday the south african finance minister said the main budget deficit would widen to a record 14.6 percent of g.d.p. in 20202021 with public debt topping 80 percent the country has continued to borrow money to help its ravaged economy due to cope at 19 so let's go ahead and take a walk across the studio to look at europe and the americas were markets have been mixed due to concerns over a 2nd wave of the coronavirus pandemic as well as economies we are seeing reopened in london the footsie it's down on the week it slumped throughout the week due to factors we just mentioned still the index rose on friday as sentiment grew over more u.s. stimulus now u.k. investors are closely tracking breck's it as talks are scheduled to resume next

week despite rising u.s. coronavirus cases the german dax and the french cac they are both up on the week germany's back to a 10000000000 dollar german government bailout package while reuters is reporting the netherlands has agreed to a 3400000000 dollar bailout to help air france and. now moving across the atlantic over to brazil where the evil vessel is down for the week i.m.f. projections released this week show an even gloomier forecast for the country the nation's treasury secretary said the deficit could top 11 percent g.d.p. while the economy is said to shrink 6 to 7 percent the ex is down more than 38 percent year to date just north to mexico the b.m.v. is also down on the week official data released on friday shows a record contraction as the country's lockdown has devastated the economy particularly the manufacturing sector which plummeted 25 point one percent since march moving north to the u.s. all 3 major indices in the dow the s. and p.

and the nasdaq the. all down as the country saw a record number of new coronavirus cases investors are also digesting the federal reserve's move to suspend share buybacks for banks and suspend dividends that's a big deal as well finally moving into toronto the t s x is also down on the week dragged by the energy sector that dropped 1 point one percent concerns grow over that spike in coven $1000.00 cases in the u.s. which could stall the recovery and just take an overall toll on the index as we continue to see more cases of coping 1000 confirmed in the u.s. the world will be watching as the economy attempts to stay open as always we hear a boom bust we'll keep an eye on things and bring you the latest and that is this week's global market walk. and time now for a quick break but hang here because when we return while the airline industry has struggled in recent months some big changes could be coming to the sector we take a look at some of the issues and what the changes could mean for travelers and as

we go to break here the numbers at the close. our culture is awash in lives dominated by streams of never ending electronic hallucinations that birth shock fiction until they are indistinguishable we have become the most deluded society on politics as a species of endless and needless political theater politicians have more than just

celebrities are to ruling parties are in reality one party to corporate power and those who attempt to puncture this fast breathless universe up to make news just signed to push through the cruelty and exploitation of the neo liberal courts are pushed so far to the margins of society including by a public broadcasting system that has sold its soul for corporate money that we might as well be mice squeaking against an avalanche but squeak we must. take a live news anywhere you go plus an elegant think curated online video library with a built in search engine it will sit right in your pocket it's free interact and just are instant textures stars will talk to the thousands of episodes to explore videos uploaded every hour so what are you waiting for blast off the forces being.

carried out turn on the t.v. on the about the world what's happened in the around me i see shows on the screen in last every day because the big news narrative steady state. who may be cool so a little to no christians would climb after a car brick by brick school to listen to make it on how to play me off that in the store when i found the network that opened. and welcome back labor unions representing thousands of airline employees have asked us lawmakers for another bailout as demand has plummeted due to the pandemic you were member us passenger and cargo airlines as well as

a series of contractors received $32000000000.00 in aid as part of the 2 trillion dollar cares act back in march now the terms of the aid prohibited airlines from cutting jobs or lowering pay rates for employees through the end of september now the latest ask from the union consists of another $32000000000.00 which will protect jobs until the end of march 2021 u.s. lawmakers are planning to start negotiation on the next reid relief bill next month a letter from the unions in question calls for a clean extension of the cares act saying this is the simplest and fastest way to maintain congress's historic commitment to keep aviation workers on payroll many of whom are on the front lines of this deadly virus now for more on this and the state of the airline industry let's go ahead and bring in gary left. from the wing gary thank you so much for joining us always appreciate having you on here now we're seeing this latest call come from the unions representing airline workers and basically saying that they want you know to make sure these people are on payroll

still maywood ertl march of next year which is totally understandable but really what they're also saying is they don't expect travel demand to be picking up before this year's end and i just read on view from the wing today that some airlines are starting to talk about selling at full capacity starting july 1st so what do you make of all of this. well there are a lot of them are recovering there's more travel than there was no last week 2 weeks ago a month ago and that's probably going to continue with some stop fits and starts but at the end of the year and the early ones are going to be smaller than they were on this month's travel demand than there was and that's going to be true next year and probably in 2022 also so all the airlines are going to need fewer people at this point a bail out isn't like your original idea that maybe it would just be 6 months and everything would be back to normal we now know that airlines are going to be smaller in the future need fewer people in the future so paying to keep people attached to their employers simply delays moving on to their next

opportunity because if we keep everyone on payroll till march then they'll be let go at that time and there was a lot of back and forth regarding this 10000000000 dollar bailout of germany's largest airline lived over the last few weeks as their life that it was essentially out of money and risk bankruptcy how crucial is it for this government to continue with these bailouts to prevent these companies from going fully under as we just talked about maybe actually happening at some point here. also in the the bankruptcy rules are going to have married him. a. travel ban and the. gate the planes are all going to still be there for new investors to take over bailouts are primarily bailing out equity holders and bondholders and it's certainly i think appropriate for taxpayers

to ask whether those should take care of us before taxpayers are on the hook and now meanwhile the e.u. is actually set to rule on whether they will open their borders to americans in the coming weeks now how will barring americans from visiting europe especially over the summer months when the when summer vacation not that i don't know whether you should be vacationing amid the pandemic but that is what we're looking at how is this going to affect the industry going forward. so that it varies by airline and airline like southwest or like alaska who's predominantly domestic your ear isn't going to be affected nearly as much as united airlines or a 3rd of their seats are international the inability to carry passengers is going to delay recovery quite a bit but it's certainly something we expect to see not just from europe but many asian countries are going to remain off limits to the u.s. as well and now some executives from airlines here in the u.s.

were actually set to meet with the trumpet ministration today friday now according to those reports one of the big points was going to be the industry's push for a federal mandate on temperature checks for passengers are we going to see a whole new set of requirements for air travels or air travelers for the foreseeable future i mean not to say this is similar to what happened after 911 but after 911 the entire way we flew changed. you know i think here we have a situation where it's not even clear the legal basis for the t.s.a. to do temperature checks probably requires legislation and if they move forward it's going to be it's going to be health security theater because there are certainly positive coded people who don't have the worst there are people who aren't showing symptoms yet who are spreading the virus and there are plenty of reasons why you have a fever other than coronavirus but moreover having people come into the terminal when they have a fever as a condition to get

a refund. and it looks like we lost to gary left there but we were just out of time anyway gary left author of you for the way thank you so much for giving us that great insight and the quest for finding life on other planets continues but scientists are simply looking for signs of life with water an obvious form of existence a nasa grant focus on extraterrestrial intelligence outside our solar system using an unusual method archy corresponding to touch a sweet has more on this study and how scientists plan to find signs of other technological civilization. scientists have discovered a new way to seek out signs of advanced alien civilizations through a nasa grant scientists are conducting a study to find extra terrestrial intelligence outside our solar system but it's not as plain and simple as it sounds when scientists have tried to find early in life on exoplanets through gases such as oxygen or methane the search is obvious as

both point to some type of existence but here on earth signs of life may not be as natural with pollutants artificial lights and even tall buildings these fingerprints are called techno signatures and now the nasa funded study is looking to see if there are comparable techno signatures visible outside of earth one of the seti authors saying these techno signatures of advance ilian technologies could be similar or perhaps more sophisticated than what we possess the t.-mo reportedly focus on solar panels and air pollution as techno signatures in the study solar panels are created with an ability to absorb particular wavelengths of lights and reflecting others scientists believe something like this could be detected by way of a telescope when studying exoplanets when it comes to air pollution the team will be looking for artificial gases that don't naturally occur in nature scientists use the example of aerosols which they recently discovered were destroying the ozone

layer scientists behind the study are hoping to find out more about. extraterrestrial life not only here now but also in the past reporting for boom bust natasha's suites art. and that's it for this time you catch boom bust on demand on the brand new portable t.v. app of ala on smartphones through google play and the apple app store by searching portable dot tv can also go to horrible t.v. to get more information and you could find it on a bevy of smart televisions see you next time.

join me every thursday on the alec simon show and i'll be speaking to guest on the world of politics sports business i'm showbusiness i'll see of that. kind of financial survival john that it was all about money laundering 1st to visit this cash into 3 different. oh good this is a good start well we have our 3 banks all set up here maybe something in your something in america something overseas in the cayman islands or do we do all these banks are complicit in the kleptocracy who decide to give much gold and say ok i'm ready to do some serious move under ok let's see how we did while we've got home got a nice luxury watch your back stand for stacy old beautiful jewelry and how about a couple of home luxury automobile again for max you know what money laundering is

highly illegal don't you watch guys record. shots seemed wrong. but all wrong just don't call. me old yet to stamp out this day become active. and engaged because betrayal. when so many find themselves worlds apart we choose to look for common ground. i'm jesse but. what. a world cup. the world according to cheshire. today we discuss why the troops are leaving afghanistan.

extremism in america and the challenges of owning a small business in the age of the coronavirus. the war. issue i am frizzy to sanchez for our top story today the u.s. has delivered a portion of its feb peace deal with the taliban by cutting troops to 8600 from 12000 previously the trumpet ministration says it could withdraw all forces from the country by next may if the taliban meets all requirements of the deal including severing ties with al qaeda reducing violence and engaging in power sharing talks with the afghan government jesse it's been nearly 2 decades since the us invaded afghanistan so it's well beyond time for our government to end its occupation there well brigitta let's let's go back in history and look how all 'd this came about

1st ok we were allegedly attacked by osama bin laden on $911.00 so therefore we had to go there to get him that was without question we're going to go get bin laden in afghanistan but that turned out to be a front bush and cheney really wanted to invade iraq that was their ultimate goal afghanistan didn't mean nothing to him they had to do it to satisfy the $911.00 but then they went after iraq and everybody kind of forgot about afghanistan that's why it's been sitting there now for 20 years of guys have been dying over there for 20 years and we've accomplished nothing over there because the whole focus said went to iraq all the mess we got in invading iraq all the aftermath of that mess of invading iraq and we're still dealing with all of the today show finally trump is looking at pulling out of afghanistan.