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tv   Boom Bust  RT  July 11, 2020 10:30am-11:01am EDT

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i. this is a bus the one business show you can't afford to miss and washington coming up as air travel resumes cases of proto virus are surging among t.s.a. agents this while the u.s. faces another record in new cases we'll take a look at the global numbers momentarily and although jobless claims have begun to fall the state of mortgages in the united states are still in question straight ahead we break down the fate of these homes and what struggles lie ahead plus we welcome back james beard award winning television personality andrew zimmern to discuss the plight of restaurants in the united states as they struggle to reopen with a packed show today so let's dive right in. and we lead the program with the struggles of trying to return to some sort of normalcy amid the copen 1000 pandemic the airline industry worldwide has been decimated since the beginning of travel
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restrictions and stay at home orders but air travel has been steadily climbing over the last month and a half despite searches in cases of the virus in fact here in the united states over the 4th of july weekend more than 2 and a half 1000000 people travel by air but here's that issue according to figures provided by the transportation security administration more than 1000 t.s.a. employees have tested positive for covert 19 this accounts for roughly 2 percent of the t.s.a. workforce now the agency says most of them are security workers who work in screen to screen passengers at airports across the country heidrick thomas the president of the union that represents these officers said of the situation right now we're bringing people back to work and the social distance is not in total effect employees are still complaining there's too many of them in one area meanwhile the u.s. hit a nother record for daily new cases with more than 60000 cases reported thursday and. with all this in mind let's go ahead and take
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a global look at the spread of the virus with r.t. correspondent sars tablature where are we worldwide brand again more grows as global cases now headed over 12200000 cases now global deaths were almost 600000 i'm going over to the u.s. we're now reaching over 3200000 cases and deaths in the u.s. 836000 once again the u.s. has recorded like you said 6 single day record in 10 days with over 61000 and new cases on thursday and florida are in arizona continue to be the epic centers of the pandemic now in florida health officials say on friday that they have reported at least $11433.00 new cases and $93.00 new deaths a day after setting another single day record of a $120.00 deaths now meanwhile earlier this week florida instructed that schools
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would be required to open for all time in the fall despite all the jobs and numbers that we're seeing and also other hot spots the state's hot spot i should say is still in miami dade county where the percent positivity rate of cases is over 33 percent earlier this week they were at over 23 percent now reaching all the way to 33 percent so huge jump from monday and brands it's important to note that the medium age that's being tested positive right now in miami dade county has been 39 so the age group is going down so that some sort of a good news i guess you can say meanwhile arizona still leading the nation for over a month with the highest 7 day average of a new cases and arizona has only the more bad news i should say for arizona as they only have $993.00 hospitals left of. hospital beds left the lowest number of
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available beds the state has seen so far and brad 6 other states that you're seeing year are also setting single day case records on thursday alabama. missouri montana oregon and texas all seeing huge increases and tennessee also reported its highest death total for a single day $22.00 and the numbers are also expect a striking in texas which set a record for the 4th consecutive day with more than 10900 new cases and 119 deaths sprint car when we go back to the global numbers what are the trends look like right now. well looking globally cases are again once again soaring in brazil they now have over 1800000 cases now india as you can see they're still also going up right here you know russia seems to be flattening a little bit with the average of cases being around the same as earlier this week
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iran is also showing a minor increase and the wrath of the rest of latin america we're seeing hotspots remain to be mexico peru and colombia and chile all increasing around the same rate brant and speaking of where in america tell us about what's happening in bolivia so while bolivia seemed to be escaping the break that has affected neighboring brazil peru and chile but the pandemic is now beginning to quickly spread in bolivia and they have had over 43000 infections and over 1500 deaths and then there was another sign that the region is at the epic center of the global outbreak believe us president jean on a said thursday that she has tested positive for the corner virus the 2nd line american leader this week you know it also just hasn't been latin american leaders now here's a list of all the leaders that have been infected with the corner virus anywhere from u.k. leaders to the russian prime minister to israeli's health minister to 2 very high
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iranian officials and also strangely his home affairs minister says you can see right here nobody is safe from this virus brant archie correspondent thank you for keeping us up to date. and more than $4000000.00 mortgages are in forbearance and are getting extensions of those initial 3 month player indicating that the pain in the market is not yet over this represents 7.8 percent of all active mortgages here in the united states accounting for just under $900000000000.00 in unpaid principle so let's go ahead and take a look at this and some other economic news of the day with us co-host christiane. always a pleasure to see you right there what does this mean for the market well it's like you said the pain in the market is not over yet and in fact this is only the beginning because the market has been propped up this entire time by stimulus massive stimulus in the form of the care package that had allowed borrowers to miss
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monthly payments for up to 3 months but now that expire and p.p.p. is expiring and when these artificial buoys go away people are left with real expenses real bills that current business operations just can't afford to pay so the expirations of these plans plus the expiration of the extended unemployment benefits at the end of this month has a significant rest of the recovery of the entire mortgage market and will there be additional stimulus measures passed to support the market once these expire well many ellice believe that there will be another package simply because it's too early for the life buoys to go away once it expires in order to provide a last and a drop in the market president secretary treasury secretary has hinted that the trumpet ministration is working with the senate to pass a new bill this now supposedly will cover unemployment benefits a 2nd round of payments to household and an extension of unemployment benefits for furloughed workers and a targeted version of the p.p.p. for small businesses are currently an all out on the table they're looking to try
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to pass this by the end of july as these unemployment benefits are near expirations and if there continues to be a last we can see a stall in this recovery no weekly jobless claims were lower than expected last week totaling 1314000 compared to the expected 1300000 expected so it's very close there but so we've seen this number fall for a few consecutive weeks now can we assume that the recovery is actually underway all the continuing claims have fallen sharply much faster than our ridgeley can anticipate a much faster than anyone expected but despite these better than expected numbers this is still the 15th can. week that initial claims are above a 1000000 and claims under the pandemic unemployment assistance programs increased by $42000.00 from the previous week now bring the total of these committees claiming benefits to a record of 32900000 so there's still quite
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a long road ahead of us even if we say this is the beginning of their coverage of the beginning of the balance whatever you want to call it unemployment is in fact dropping from the pandemic high of 14.7 percent to 11 point one which is still pretty high so the job market is still very far from being subtle especially when you have companies like united airlines just announcing that they are putting $36000.00 workers on notice for potential layoffs so while we are starting to see a slew of bankruptcies and chapter 11 filing is also hit the deck those are not mom and pop shops those are in fact fortune 500 companies or companies over 15000000 in market cap filed for chapter 11 so that represents hundreds of thousands of jobs that are permanently gone so while we can say that we are in the early innings of our high levels of initial jobless claims as well as the business closures are going to be very major headwinds going forward you know look at markets they could today be choppy in trading on friday but we still have some upside bias here what is could to do push it up despite the complete lack of catalyst in events i got 30
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seconds left for you kristie it is going to be choppy trading and range bound in the interim as we go into the summer months but there is a slight bullish buys a mirror right there some of factors continue to prop up the market namely the fed amazon and this hope for a vaccine so today on friday we got the report from gilliatt saying that the vaccine could be ready by as soon as december so this reopening trade is fading and the rotation of high beta stock is also slowing down and in the near term it's going to be difficult to find anything compelling so really the only thing that's going to be leading the market right now is going to be tech names as well as the fed. chrissy our thanks for your expert analysis. global markets are mixed this week as they could tell you to react to a resurgence of coronavirus cases worldwide let's start in russia where the mo x. is down on the week the ruble fell on friday after some gains throughout the week
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due to a decrease in oil prices and concern over a renewed lockdown now something to keep an eye on is the nation central bank data for balance of payments for the 2nd quarter of this year amid the height of the pandemic let's move to asian markets where the shanghai composite it's in the green for the week with gains early on in the week due to china's june inflation data china's national bureau of statistics showed the price index fell by 3 percent beating expectations and the composite saw a 2 percent loss on friday mostly attributed to the growing number of coronavirus cases worldwide in hong kong the hang seng finished that week up but just barely the index fell more than 2 percent mid-afternoon on friday alone on the news that the asian financial hub will suspend all schools starting monday after a spike in co but 19 cases in japan the nikkei was down for the week following similar trends on friday it lost one percent taking a sharp downturn over. concerns the sensex in india that is up on the week
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extending its 4 week gains despite some losses on friday india's richest banker and head of ko tech mahindra bank he says it is the surplus of money and stimulus coming from central banks and the markets habit of discounting the immediate future which is pushing the sensex higher moving to australia the a.s.x. is down this week and it fell really on sentiment it fell on friday largely largely due to energy stocks which fell nearly 2 percent and the all share in south africa that's up for the week after seeing some large gains midweek the index dipped on friday after the country reported their biggest one day spike in new coronavirus cases so let's go ahead and take a walk to the other side of the studio. and look at europe and the americas which is really on trend with the rest of the world when it comes to the mixture of green and red arrows that we are seeing in london the footsie is slightly down for the week but did see some gains on friday on the back of pharmaceutical and utility
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shares and the easing of lock down restrictions on indoor pools and gyms but still not enough to erase this week's loss now the french cac and german dax they're also in the red following similar sentiment french industrial output however did surpass expectations as they climbed 90.6 percent in may and let's go ahead and cross over the atlantic to brazil where that it is also up on the week as many parts of the country have reopened despite a growing number of coronavirus cases the country's inflation measured by i.p.c.a. consumer price index rose 0.26 percent in june let's move north to the b.m.v. in mexico it's down for the week as mexico central bank said the economic recovery is uncertain despite the country's reopening and several important sectors like manufacturing coronavirus concerns are still lingering in mexico in the u.s. the dow just about flat the s. and p. squeaked out a green arrow at the end of the day on friday even with fears of a virus resurgence while the tech heavy nasdaq is up hitting record highs on
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thursday and amazon rose to an all time high spiking 3.3 percent on thursday alone alphabet google the parent company microsoft and apple all contributed to those gains as well finally in the great white north of toronto the key has x. is down for the week the energy sector lost 2 percent as crude oil dipped to their lowest closing of the month on thursday for next week we're going to have to keep an eye out for a 2nd quarter results and the growing number of coronavirus cases worldwide and that is your global market walk. time now for a quick break but hang here because when we return the restaurant sector has been pummeled in the wake of the coven 1000 pan. and now the industry is looking for government help to stay afloat straight ahead we bring in a true expert of the sector to break it all down as we go to break here the numbers of the quote.
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a young people for a while you know and some that did to make it in their own image and on the money els and jan see i'm a boomer you know i already had the. 40 or 50 year experience in the united states post world war 2 coast landing you know stock markets never had a work day in my life because of that and you know so it's up to them to decide what's great make it great and good luck with. joining me every focused on the alex i'm unsure and i'll be speaking to yes in the world of politics sports this list i'm show business i'll see you then.
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is your media a reflection of reality. in the world transformed. what will make you feel safe. isolation little community. are you going the right way or are you being led to. direct. what is true what is faith. in the world corrupted you. you need to descend. to join us in the depths. already made in the shallowness.
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so we were. going to. make. them up those you just can't put up with if you care that i. am talking is a very international community it. used to be a. list of people is this stuff you believe. there's a position at the with. the but is just so there you can see it. is everything because he was deluded with the impulse to do with. mexico but i decided not to take the piss like. you.
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and welcome back pharmacy chain walgreens announced a deal wednesday that will put doctors offices inside their locations in more than 30 u.s. cities now walgreens is partnering with village m.d. which will staff and operate the clinics to support up to 700 locations last year the 2 companies teamed up to open 5 primary care clinics next to walgreens stores in the houston texas metro area of the pharmacy chain will invest one. a $1000000000.00 in equity in convertible debt in village empty over the next 3 years as part of the agreement walgreens will gain roughly 30 percent ownership in villages now we want to have a discussion about this and to do so we're joined by host of the news with rick sanchez his name is rick sanchez and full disclosure here rick is also the founder
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of a managed health care company in south florida which is the fastest growing in the united states according to a magazine yeah it's always good to congratulate you on that one i know when i get up just a little bit about that my kids will eat. i think the most important question is how important is this what do you make of this move to have over 700 almost 700 locations of walgreens have actual p.c.p.'s inside of them i think it's a trend i think it's the future of how we will be seen by doctors i think it's the future of health care in the united states and let me tell you why it's probably a good thing because health care in the united states has forever been very fragmented. let me give you a more rudimentary example of what i'm talking about most people don't know their doctors are right they really don't with the exception of people who are 65 and older and are on medicare and actually joining an association if you will
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a place where they have their medical needs taken care of most people don't know who their doctor is they don't know how much their bills are they don't know who pays their bills they don't know how they're insured it's really a very very bizarre situation so what's happened in the last couple of years is a lot of the payers and by payers for those of you who don't understand it means the big insurance companies you know they humana in the united for the world they're the ones who are kind of gobbling up the providers provider is a fancy word that means your doctor so what what what's going on here is we need more doctors that are established that have established relationships with their patients in the united states. right that's what for example the company that i'm associated doesn't south florida they are p.c.p.'s right there the providers for people what's interesting here is that what they're doing is they're creating a relationship in these buildings all walgreens doing is saying you can use half of our actually one quarter of our building but it's going to be when you walk into
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walgreens you'll see the doctors on one side it's village m.d. on the side and the walgreens on the other and they'll be a lot of them all over the united states all things considered probably positive because the dea fragments what's going on in health care today fragmenting point of the health care industry how important is it here especially in the united states things are very regional so we're looking at this going to into 30 major u.s. cities and it's going to the same provider in village and d. so that way if i'm in washington d.c. where we are today i saw my p.c.p. i get all my test done hey maybe i'm in new york and i get sick i have to go i can go i have to find a strange doctor that i'm not familiar with i can go to village m.d. and they can get all my records how important that exists that is such a good question and such a good point because one of the problems today again going back to a rudimentary since your average 25 or 30 really old he had a broken ankle he got it fixed where there's x. rays he doesn't know he doesn't remember the name of the doctor or the place where
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he had it done he had lab work once he wants to check his lab work where is it don't know so we have to do more lab work we have to do more actuaries this is what's been happening in america for the longest time the other trend that this is going to quell is what you're talking about by the way is centralizing in writing. and it's the internet and we're all right and we still have doctors some guy in mississippi and the other guy in new york and the other guy even just miles away that don't talk to each other don't get mad and for those of us who know it when you go into a doctor's office how do you do it they don't get your information they give you a form that you fill out to the best of your of ability and that makes it hard and here's the other thing that why this is great the. you know health care is an unbelievable cost in the united states and our health care system compared to other countries sucks so here's what i think is really cool that what we've seen in the past is not just the big payers those big companies controlling who takes care of
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your health because they get paid more and they control what kind of coverage you're going to get no you want to be able to shop it out you want to be independent you want to be able to get this insurance or that insurance so it fits your needs the other thing that this finally may do away with his hospitals controlling who doctor care you don't want that you don't want people going to an emergency room every damn have a problem because that's big bucket right you want people to have relationships with their doctors and if we can create a system around the country where there are networks of doctors i trust the doctors more than i do the insurance companies so it's why i think this could be good and if we look at it on a on a business decision from the walgreens in village m.d. i mean you're in the managed care business you know about this i mean is this going to be a big winner for them not just on the social relationship with your doctor and just being good for humanity but for their bottom lines well sure i mean it's about scaling i mean business the business proposition here is i'm going to have
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clientele that's coming into my building my factory every single day aside from the people we already have so you already have the people are going to go buy a coke are gallon of milk and their medicines etc but now you're going to have a steady flow of people coming into the same building are going to be seen by doctors and then the doctors are going to say i'm going to give you a prescription or a script for this medication where do you think they're going to fill the script right next door so it's going to be a boom for the business of walgreens if they play it right and if they don't give away too much and for that matter they might be able to pick up whatever they need as you said whether it's a coke a loaf of bread some snacks and some cosmetics because that's just kind of the way it works or in our case what chocolate milk and some. of the news with rick sanchez . rick sanchez himself thank you so much for breaking that down it was awesome. and the 3 missions are poised to launch to mars this month the united states the united arab emirates and china are also robotic missions to the red planet hoping to start
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new chapters of exploration right there the 1st mission is set to lift off next week an arche correspondent true job as as more on the story. well it seems like july is the month of mars this doctor multiple space agencies from 3 different contractors and now the they'll be embarking on space missions to the red planet and it's happening over the next few weeks. today the raise to mars continues the u.s. china and the united arab emirates all plan to launch spacecraft to the red planet this month here in the u.s. nasa perseverance is currently scheduled to launch no sooner than july 30th but is expected to land in the crater on mars on february 18th 2021 perseverance will look for signs of life both past and present collects rock data and soil samples for later pick up and delivery to earth and will even carry a helicopter drone and that is in vision to be the 1st aircraft to fly the skies of another world this as china hopes its expedition to mars will help and hence its
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status as a major space power the country's t.-o. when one is much smaller than nasa is rover but it consists of an orbiter a lander and another rover that will spend 90 martian days studying mars at close range meantime while the u.a.e. is in the midst of an economic transition from fossil fuels to science the emirates is preparing for its very 1st mars mission as well it's called the emirates mars mission which will send a small orbiter called hope to the red planet on july 14th and will study the atmosphere for at least 2 years now malaysian agency has different political scientific and economic boon to the sions behinder missions experts believe that all 3 missions are likely to collect valuable data that will. every years the groundbreaking discoveries. bust trinity chavez are to. a fascinating future indeed that's it for this time you can catch us on demand on the brand new portable t.v. have a bill on smartphones and tablets through google play and the apple app store by
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searching portable t.v. a portable t.v. can also be downloaded on newer models samsung smart t.v.'s as well as roku devices or simply check it out at portable t.v. the next time. we go to work. straight home.
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is your media a reflection of reality. in the world transformed. what will make you feel safe. isolation community. are you going the right way or are you being that. direct. what is true what is faith. in the world corrupted you need to descend. so join us in the depths. or i'm a bit loose shallowness of. your songs i also remember. it was
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moment i know the song let me know when you know i'm going to love. this viral. istanbul's world famous hagia sophia museum which was originally founded as a cathedral is converted back and 12 moscow of a turkey's move triggers the anger especially from the polish. oxfam wants the covert 900 because mass hunger across the globe and killed 12000 people a day. to new it centers are going to develop beginning in otherwise middle income in the fall of countries the money is flowing to the big companies. and it's really not getting down to the people that need. a poll finds mixed feelings in the e.u. on welcoming u.k. tourists without self quarantine as brits get the green light to travel to 59 countries. voicing their will be regarded song.

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