show you can't afford to miss bridgeboro in washington coming up it's. an agreement has been reached that will make it easier for many people to get through the crisis and an upswing will happen faster now than otherwise would have been the case the european union has struck a deal on a 2 trillion dollar budget which includes coronavirus relief after some heated talks over the weekend straight ahead we analyzed the specifics and the state of affairs in the block and the u.s. has its smallest single day increase in covert 19 cases in more than a week we'll take a look at the spread of the virus throughout the globe plus it's another big week for earnings on wall street as lawmakers also are negotiating the next round of coronavirus stimulus will break down what this is doing to markets with a packed show today so let's dive right in. and after almost 5 days of fighting insults and battles between european union leaders and the has to and storage and massive stimulus plan has finally been agreed to the deal paves the way for the

european commission to raise billions of euros on capital markets on behalf of all 27 states within the e.u. french president the man who helped to pull the deal across the finish line along with german chancellor angela merkel called the deal truly historic. hughes if we don't get us we have put in place a capacity to borrow collectively to put in place a collective recovery plan for the 1st time the objective which we arrived at was a package of 700 $50000000000.00 euros in total we ended up by having everyone's agreement as chancellor merkel has said for $390000000000.00 euros worth of grads but this is a substantial package which will enable each country to finance a good part of their national plans i want to go and this will be we have a great responsibility with 209000000000 euros we have the possibility to strongly relaunch italy to change the pace of the country now we must hurry i must use this

money for investments for structural reforms we must begin that path for the economic growth for sustainable development that we have been pursuing for years without ever achieving it at least not with the patience of time is it was not easy that we needed so many days shows that we came from different directions but what counts for me is that we all got together in the end and that we are all now convinced that we really can make something out of what we decided. so what does this historic deal mean for the e.u. let's go deeper and bring in blue bus co-hosted investigative journalist ben swan and john quotes the dean of the miami herbert business school thank you both for joining us again today dean quotes i actually want to start with you here now this is a massive stimulus and recovery plan what do these countries need to do respectively to move their economies forward amid the crisis that we are seeing. thank you brant yes the size of the deal is substantial it represents actually

about 4 percent of annual e.u. g.d.p. . and it's important to note in the e.u. that around about a 3rd of european union g.d.p. is intra european trade so one of the most important elements of this package is the opportunity to restructure economies and businesses to facilitate an acceleration in intra european trade flows in addition of course many of the loans will be assigned by the national government to stimulate and revive small and medium sized businesses that have been disrupted significantly by the virus but overall i think we're looking at perhaps not as quick

a recovery package implementation as you might think because the deal as a whole has to be approved by every national parliament among all 27 nations and that's going to mean that it's going to be at least 6 months if not more before any of the money actually finds its way down to the ground level to the high street or main street. and that's very interesting point that we're going to keep an eye on throughout the next couple of months now ben we talked monday about the more frugal northern european countries that resisted this deal french president menem are grown actually spoke about them as well. equal now. for the countries that we have called frugal the sensitivity comes from the fact that they are large net contributors and that there is a political sensitivity back at home on this point often with coalition governments and therefore leaders who are around the table but who must respond to their

parliaments which have put on many constraints now how do you think these leaders will fare as they head back home to their constituencies as dean called actually just kind of made the point of how this is going to have to go through all of these parliaments as well. yeah and i'm not sure that based on. these will get through all these parliaments look there's 5 countries really in particular we're talking about here in the past they've been known as the frugal for now they're called the frugal 5 finland joined them it's finland denmark the netherlands austria and sweden that make up these countries are wealthier northern european countries their parliaments may not agree to all of this their representatives in the leaders from those countries who essentially have been fighting with the rest of the e.u. over the last almost 5 days over this or are they going to have to sell this back home to those constituencies and say that this is a good deal i'm not sure that they'll all agree with that remember these are not only going to be difficult to sell to the existing parliaments but also to populist

parts of the populations that may not agree with these ideas so one of the issues here has been that these frugal 5 nations basically said they wanted to have essentially loans that were made that would have to be repaid not grants that were non repaid by a lot of these nations the grants idea has come through and so i think that's where you're going you may see a hang up in some of these other again wealthier northern european nations doing quote this plan seems to endorse the principle of collective borrowing and allows for the transfer of funds via grants from richard to weaker nations now it is this deal also in some ways acting as a blueprint for future relations within the e.u. . well absolutely u.s. expanded over the last 50 years and one incarnation or another there's always been a balance between the rich and nations and the poorer nations within the e.u.

and there's always been an element of wealth redistribution associated with the whole european idea so this is really the latest reflection of that i do so. good so important though to underscore that by. organizing all of the sloan activity centrally through brussels rather than having in individual nations . individually make their own debts debt arrangements and loan arrangements there is an element of procurement efficiency here that is not to be on the rated but. you know when you have 27 nations trying to forge agreement on anything it's pretty tough but certainly this is a victory in fact any time that you can get the 27 to agree on something this

substantial it's a victory for the european ideal and now there was a lot of talk about rule of law especially from the hungarian prime minister and i want to play in some sound from him right now. and be not just manage to get to package of money but to be defended the pride of all nations and make clear that it is not acceptable that anybody especially those cool in harry teed in how to do the rule of law will. criticize us the freedom fighters who came from of the route difficult field of police times though they do a lot against a community in favor of rule of law so no but they can educate the nation of sorted out a niche for the nation of the $56.00 civil surely it's an acceptable. you know he was of course talking about not questioning poland or hungry no do you think that there will be backlash against the e.u.

from these countries if this money is not applied correctly or not a problem correctly yes but i also think that whether or not there are additional strings attached to it so i think what we're hearing when we hear this discussion about rule of law really comes back to a bigger idea which is simply that some of these countries will say if you don't like the way we're handling politics internally if you don't like the political systems because obviously and there are is a big divide across europe in terms of these populist movements that are popping up in different countries we've seen it happening now for the last couple of years if you don't like where we're at how is that going to affect the centralization of this you know. about a minute ago about that kind of centralized efficiency and it all coming through brussels i think there are also becomes a fear about some of that centralization that also becomes centralized control coming out of brussels and so i think that's some of what we're hearing there you know and i think when we look at what's happening across europe it's easy for us to

gloss over here in the united states some of those deep rooted feelings and anger that lie between countries nation to nation there and we talked about this monday about the cultural differences of these $27.00 nations as you're talking about coming together to work out this deal to bust co-host ben swan and dean john quotes thank you both for breaking this down for us. thanks for thank you. as we continue to see surges in cases of coping 1000 here in the united states president donald trump spoke about the situation announcing he would resume holding daily briefings on the virus frankly a lot of the country is doing well a lot of people don't say as you understand but we have had this big flare up in florida texas a couple of other places. and so 'd i think what we're going to do is get

involved and we'll start doing briefings and part of the briefing i think much more so than last time because last time we were nowhere with vaccines or therapeutics and it should be noted that the president hasn't held a briefing in 6 weeks now meanwhile the u.s. saw its smallest daily increase in new cases in more than a week reporting just over 60000 new infections monday with that in mind let's go ahead and take a global look at the spread the virus with our correspondent side to have a so where are we worldwide sobran right now almost 15000000 people around the world have been diagnosed with cobra 19 almost 60 percent have recovered and more than 616000 have died now looking over to the u.s. they have reported almost 145000 dead and there's almost $4000000.00 confirmed cases in the u.s. and and the u.s. also reported over $460.00 new cases last week nearly 15 percent from the prior week and just looking in the last 24 hours there's been over 62000 new cases

are bored at it like you said a little lower than the average 77 the average but not by much now nationally 8.5 percent of tests have come back up positive for the virus that still down 8.8 percent and the prior week would still much higher than the 5 percent level that the w.h.o. recommends before reopening states back up and $31.00 states have tested rates above 5 percent including. 24 percent florida nevada 19 percent and i had a home in alabama also 19 percent now both of vermont and connecticut have the nation's the lowest positive rate at below 0.08 percent and new york who once had a 71 percent. the t.v. rate at one point now has 1.2 percent and also the u.s.

is currently testing about $700000.00 people a day so little imagine that number's going to keep going lower a higher depending on rules put in states like social distancing but i also want to take a look at the u.s. current hot spots and how 19 states right now have reported an increase in new cases just in the last 7 days and the majority of cases remain to be in california arizona you see all the red right here california texas arizona florida and now also georgia is emerging as the nation's newest hot spot and you know just looking at california arizona texas and florida you'll see that these states just keep trending higher and higher so what we want to see them is actually flooding because you can see they're just getting higher and higher doing their 3 day moving average and when you have new cases there is also you'll see more deaths that's when they're seeing more deaths happening this chart is going to show so more cases of

course equal more deaths and as of monday texas reported 118 deaths florida 90 deaths california 5056 and arizona 23. globally were the hot spots you look so globally we're here are on the chart that i'm going to have them put up here these are the top 10 countries affected by call that 19 of course u.s. is constantly trending up followed by india followed by brazil other latin american countries mexico peru. and chile are also on the list going up in the middle east iran remains to be number one it's been replaced iraq was on the list but they're no longer are it's once again being replaced by chile and south africa is also seeing a steady amount of cases brant arky correspondents are tablature thank you so much for keeping us up to date. and time now for a quick break but hey here because when we return we'll take a look at another big week for earnings on wall street and how the next round of

provirus stimulus might move markets and as we're going to break here the numbers at the close. of the pandemic knows that you know blood is just climbing to nationalities.

the summer. heat to. judge your. commentary this is least. we can do better we should be. everyone is contributing. but we also know that this crisis will not go on forever the challenges create the response has been so many good people are helping us. it makes us feel very proud that we are in it together . problem drugs don't always come from unscrupulous dealers but from pharmacies to in every state in the united states we've seen the very sharp increase in the number of people seeking treatment for addiction to prescription opioids and invented

america under the banner of medicine persisted with the pain but instead of trying to wean him off though she just goes after dose after dose after dose and really became his drug dealer so who's to blame patients doctors manufacturers the governments of. israel media reflection of reality. in a world transformed. what will make you feel safe. isolation community. are you going the right way or are you being let. go of. what is true. is faith. in the world

corrupted you need to descend. to join us in the depths. or a mate in the shallow. or welcome back us equities rose again on tuesday as we are hitting the bulk of earnings week and traders are looking for more clues on further u.s. fiscal stimulus thus far 58 companies in the s. and p. $500.00 have reported and 81 percent of them have been analyst expectation now sentiment was also lifted tuesday after the. you agreed to this stimulus package we discussed earlier in the program so now the attention has churned to the u.s. and what it will do before the current aid package expires joining us now to discuss is both of us co-host christiane and editorial director of the american

institute for economic research jeffrey tucker thank you both for joining us jeffrey i want to start with you now there is a lot of talk about what could be included in this next round including a 2nd round of p.p.p. funding to hard hit businesses as well as another round of stimulus checks what are we looking at here and what are you looking to. watching markets are excited about this course but i more importantly than not i think markets are of the opinion that the lockdowns are gradually. ending a little bit at a time the markets were strong before the lockdowns came and i think traders are looking forward to restoring some of that bit of optimism and maybe the stimulus helps i mean it. helps most of the financial markets on the other hand you know from from a pure economic point of view this is just once again prolonging the pain the pain a bunch of businesses that are that are not being profitable right now because they have their customer base models while paying a bunch of workers not to work so this is kind of a stupid policy. but but the u.s.

is specialized in the last one right on how to prolong the pain as much as possible you know what jeffrey i have a cry of a follow up on that because you're just basically saying they're prolonging the pain by supporting these businesses and basically keeping them afloat i mean would you basically do a survival of the fittest if you were in charge here and say hey if you didn't prepare for something like this sorry it's your fault. or in charge i just say hey everybody go back to what you were doing before what you just need to do see the liberate free enterprise and that's what we've been needed to do this since april is just crazy and written a 1000 articles about this we just need to free the market and stop hopping around like grasshoppers and this country acting like as if we're going to control a virus that we can't control and so. we need to go back to go back to property rights and freedom of association and that's that more than anything else we're going to restore the markets and as for these unemployment benefits i know they're going to be extended but it's just a mistake it's a bad policy to pay people to stay home more than they otherwise work and they've

gone back to work so yeah i see that all this is a pain prolongation and mostly pointless and. profoundly irresponsible you know kristie to jeffrey's point about you know kind of reopening economies here it seems like economists have stopped talking about that v. shaped rebound now despite 2 months of labor market growth some 50000000 americans are now unemployed and as of today as 80 percent of states have actually scaled back to reopening measures consumption looks to stall out in july as restrictions are imposed once again are we seeing a hiring stall as well when it comes to. absolutely if you notice that everybody has stopped talking about this v. shaped bounce or this you shape bounce for however you want to call it exactly what jeffrey just said is this prolonged pain trade and so right now it looks like hiring is also slowing down as restaurants and bars and even some retails. there reinstituting the stay at home order and shutting down so it's not only these consumer facing business that are across the board that employees are being let go

of linked then also announce that they're cutting 960 jobs or 6 percent of their global workforce as a pandemic is having a sustained impact on demand for its recruitment products so goldman sachs is also publishing a new report saying that while it's tempting to believe that these new restrictions would simply push back growth from q 3 and q 4 out further into 2021 the situation isn't really that simple because the longer that businesses remain shuttered the more likely they will fail and close the doors permanently even if we just continue to drag them on with additional p.p.p. eventually even when they open up the doors you still have they standing in pay their rent based on a pay that back mortgages and everything and it will eventually lead to these businesses shut down permanently so even this temporary stall in july hiring which is expected. that's going to have a very lasting impact on this entire recovery story and jeffrey i know i know christine just back to all of your claims there which probably made you feel really good but i want to move to commodity as quickly. as i wasn't. somebody that wasn't

outstanding the 7 original print that you know that was great to have become obvious a little bit jeffrey oil prices again more than 3 percent today to hit 4 month highs what is supporting these crude prices right now when we are still in a net surplus environment. you want to you want to hear you want to hear the summary in one word sure. that's the whole story you know we got we got russia and saudi arabia playing together again you know we've lived through a historic time with oil this is very interesting people need to think about this about a month ago they're all got probably fell apart we briefly experienced what a free market oil would look like and it was weird. like and negative right it was crazy times like what's going on here oh we've got competition we've got a market we've got people producing as much as they can and sell it to never ever will but you know it is also during the middle of lockdowns so the price is like massively collapsed ok nobody is happy with that so they put together their little

sign little cartel that we've been living under for the last 50 years and so that's been restored so we've seen the prices back up again to the level that that everybody is everybody but consumers is happy with that's that's that's a long and short of it but it's in many ways a very beautiful thing to watch now kristie i want to hit on a quick story here on the crypto front it looks like they are taking a stand against big tech crypto businesses are taking google facebook and twitter to court in a class action lawsuit that could cost the social media giants up to $300000000000.00 quickly what's going on here and what's the latest on this is very interesting because they're taking them to court in a class action lawsuit for manny ad from january 28th. to the present claiming that their businesses have been harmed when they banned all kept advertising within weeks of each other considering that these 3 social media giants together control a very large percentage over 80 percent in the united states an online advertising market and that ban severely hurt the way that the businesses acquire customers so

this is being filed in australia where the cost action will seek damages for world rights law says where could the market drop by hundreds of billions of dollars when this ban was instituted and quick to change its law and got fixed even 90 percent and we're going to have to do a probably a whole story on that to dig deeper into that one but boom bust co-host christine and jeffrey tucker of the american institute for economic research thank you both for your excellent insight thank you. and finally as professional sports return amid the pandemic without fans in the stands there is one very noticeable absence we're talking about ambient crowd noise we take for granted watching sporting events soccer leagues throughout europe have pumped in crowd noise telecast at different levels of the broadcast and with major league baseball kicking off a truncated season this week the league has taken its own approach to. the league has teamed up with play station 4 video game and will be the show to not

only provide an ambience for viewers at home but also within the stadium now according to and will be spokes person all clubs will have access to ambient and reactionary background noise blasted out of the ballpark sound system it doesn't appear as if the sound will get stale either as m.b. says it has provided around 75 different reactions to be used within a game so you'll hear the roar of a crowd at a home run or possibly jeers at a missed call and it's spring training is any indication it also appears teams will place cardboard cut outs in the stands so it doesn't feel so empty and that's it for this time because boom bust on demand on the brand new portable t.v. app which is available on smartphones. tablet through google play in the apple app store by searching for a book t.v. portal t.v. can also be downloaded on newer models samsung smart t.v.'s as well as broker devices or simply check it out at portable the t.v. so next time.

the world is driven by. the day there's thinks. we dare to ask.

problem drugs don't do is come from unscrupulous dealers the trim pharmacies too in every state in the united states we see means very sharp increase in the number of people seeking treatment for addiction to prescription opioids and invented america under the banner of medicine persisted with the pain but instead of trying to wean him off though she just goes at their dose after dose after dose and really became his drug dealer so who's to blame patients doctors manufacturers all the government . seemed wrong. to me. to shake out just because the ticket and engagement equals betrayal.

when so many find themselves worlds apart. just to look for common ground. syria has been engulfed in civil war through almost 10 years it cost hundreds of thousands of lives and displaced millions more no one foresaw the peaceful protests of 20 of these collating into a complex conflict between various armies geopolitical interests rebel groups just . how they are in the book on this. but if you tell us if you say you hate because of the. message look cool and. you know deep going to lick.

and order in the south on ice you know that it never stops and as the mother in the new issue what i mean i'm a step up then you. get. the british prime minister faces a whirling in parliament over the vosh report which condemned the government for the lack of action against moscow's and that influence of the u.k. politics we look at that to pay. the high ground to say to that much to major port also claims russia remains a top security priority what we call reaction on the streets of london i just take the cake.