the one business show you can't afford to miss i'm going to washington coming up the top administration. treatment for cobra 19 but questions remain about just how effective the therapy actually is and the parent company of. suing the u.s. government ahead of a possible ban it's yet another legal battle between the u.s. and. we have a lot to get to. over the weekend president the f.d.a. the emergency of pro. copen 1000 patients today i'm pleased to

make a truly historic announcement in our battle against the china virus that will save countless lives the f.d.a. has issued an emergency use. authorization and that's such a powerful term emergency use authorization for a treatment known as convalescent. this is a. powerful therapy transfuse is very very strong antibodies from the blood of recovered patients to help treat patients battling a current infection set an incredible rate of success today's action will dramatically expand access to this treatment now this comes one day after president trump took to twitter and slammed the f.d.a. for making it very difficult for drug companies to get people in order to test the vaccines and therapeutics of flu drug administration chief steven hahn he said this

type of plan it's been used with infectious diseases for years now. so plasma is the liquid portion of the blood. that liquid portion contains the natural immunity that someone develops in response to an infection in this case called 19 and then that liquid portion can be extracted in for many years as the president's secretary said it's been given to patients with infectious diseases for more than 100 years so there was a really good rationale for why this might work well the f.d.a. they claim more than 70000 patients have used this treatment still some medical experts including and they id's director anthony felt she will he claims the clinical data just isn't strong enough to justify emergency approval meanwhile the trumpet ministration is reportedly looking to fast track a covert 19 vaccine from the u.k. sources suggest the f.d.a. could potentially grab an emergency authorization in october well critics warn the potential vaccine under development by astra zeneca and oxford university has only

10000 volunteers now that's 20000 fewer than what the u.s. requires for emergency use authorization this comes as astra zeneca just received regulatory approval to conduct part of a face 3 trial in russia well last month russia signed a licensing deal with the u.k. biopharma to manufacture the potential vaccine the trial will involve 150 volunteers across the country and for medical facilities in st petersburg and moscow. for more on how the global markets are reacting we're joined by both co-host christiane i and editorial director at the american institute for economic research jeffrey tucker jeffrey let's start with you now the federal reserve is going to hold its annual jackson hole symposium starting this thursday what's the market anticipating to hear this year from powell and we already know the fed is all in but what specifically will the market want to hear. well what the market has

loved hearing from the fed over the last 6 months i'm not saying this is right or wrong is. ever more money more a lose lose spawn a trade policy more and more violating of its charter more and more purchases of stocks and bonds and intervene into the markets to do anything to sustain the recovery and in large part i think the present strength in the financial markets is due to the fed's actions and i don't when i say that i don't i don't know that these are healthy actions they might in fact be highly distant distortive we've never seen such a would you say like a difference between the with financial markets are reacting and the severity of the macroeconomic environment right now and and i don't i don't think it's sustainable and i'm worried that some early next year we're going to really see a lot more evidence of the distortions both in terms of its effect on the structures of production quite possibly on prices were starting to see a lot of operative or movement on prices already we're definitely seeing that

upward mobility on prices that the followers are if they're all in however they did recently say they're looking at possible an increase in interest rates so it'll really want to keep an eye to see what comes out of that symposium kristie a lot of volatility in the market this morning it looks like the markets all the nasdaq the dow and the s. and p. they're all rallying they they've hit all time records what's going on here. well i think part of it is exactly what jeffrey says there's a lot of strength in this market rally but it's not necessarily healthy and it really is distorted because the nasdaq that didn't dip briefly into the negative territory this morning as apple and tesla sold off very violently in the late morning a little pullback is unsurprising here for apple given the fact that it did jump about 8 percent last week ahead of its 4 for one stock split bring its 2020 gains up nearly to 70 percent but it quickly ratcheted back up as the nasdaq closed to new all time highs today but at this point as jeffrey just said it is pretty

evident that a very small group of stocks is contributing to this entire market rally the s. and p. of the nasdaq both had new all time record highs but stocks were more stocks were down than up and typically the opposite should be true in a healthy market conditions the majority of stocks should be going along with along with the averages but right now this shows that there is deteriorating market breath as $300.00 names out of the s. and p. 500 were actually down instead of up so this is very concerning behavior as this rally shows that this is not very well supported at all well like you said i mean they've dipped into negative territory especially a day like today right where we have this this news coming out of vaccine jeffrey the markets and tis a pity another stimulus deal but right now the democrats and the republicans they could not be further apart it's so obvious how is this delay affecting americans who are relying on these measures to really stay afloat. some some people think i

am not the senate it was some people think that they only need to kind of keep keep things going for another couple months all this is being driven by election politics and if that's true that's a pretty dark way to conduct policy you know much more important than a stimulus bill right now would be to see through their progress towards opening this economy right now us stringencies that are. in place in the name of protecting people from from a virus are some of the tightest in the world if you can believe it i mean europe long ago opened up and u.k. is even opened up more than the us the us has very high stringency even now cash is because our politicians are so invested in the closures the lockdowns and the mass mandates and everything else that they don't see a way to kind of pull back from it because it's it almost seems embarrassing because they don't seem to have a good reason to do it you know tomorrow's versus last week so these stringencies

continue in place and i think that more than anything else is the source of a lot of the economic dislocation and that we're console consolidation that christine mentioned in the financial markets towards just a handful of companies we have to open up this economy we need to do it really we should've done it 4 months ago but it needs to happen right away and whether whether or not that come out that's going to happen before november i just don't know well yes you see kind of both sides where a lot of cities are a lot of places do have bars restaurants indoors everything open then you see the other side where they're not open either way nobody really is operating at 100 percent capacity costing millions of jobs already and jobs that may never come back kristie one of the most alarming facts about this in this crisis is really the pace at the bankruptcies there are rising an incredible pace despite the 11 trillion liquidity injections companies that they're still going bust at the fastest pace since we've seen ever since the great depression what's going on here well this is

a solvency crisis essentially is basically what jeff i was just saying this is a solvency crisis for most people and most small businesses right now and that's not going to be solved just by pumping in additional liquidity so trillions of liquidity injections that's giving investors a false sense of security right now because the old are low and valuations are high become things are entering into a long term solvency crisis and these at a century are becoming these zombie companies now the zombie. companies that will mean less employment in the future less investment and ultimately lower growth as a whole for the economy so liquidity right now is just a temporary fix it doesn't actually solve any of the solvency problems and issues that are mainly driven by as you said low demand low capacity collapsing cash flows and basically elevated costs right now so all these large u.s. company bankruptcies they're running at record pace right now set to surpass levels reached during the financial crisis so $45.00 companies with assets of over $1000000000.00 have already filed for chapter 11 bankruptcy here in the u.s.

in germany 500000 companies are considered insolvent right now and in spain 25 percent of all companies are on the verge of closing and in technical bankruptcy already so these bailouts these liquidity measures conducted all by the central bank to extend the runway for these companies that's not really helping and that's only going to make things worse in the future because pointless stimulus really won't help and that will only serve to create more of these zombie companies and drive the economy into a stagflation crisis and perpetual imbalance and we all know this is going to take years to recover anyway the more stimulus and the longer it's going to take jeffrey a lot of this positive bias today obviously driven by what we just said the plasma convalescent plasma in coven 1000 patients but the w.h.o. like i said anthony a lot of medical experts are saying there's low quality evidence that actually supports the data that it works are we getting ahead of ourselves here. probably

i'm not sure of the pleasant question really i mean this is this example this should have always been left to the medical doctors to do with that it should have never involved the politicians there's a lot of experimentation going on right now with sara puget sound i think there's reason to be far more optimistic about various therapeutics and there are the vaccine question right now i mean already seen you know the sweden style heard of munity has already affected the northeast. seen this swing down to the to the to the to the south and to the sunbelt and so on i mean what happens the virus comes people get it herd immunity is estimated at 1020 percent the really the question is if in fact we have this vaccine coming along how long it's going to work forward it's not going to be 2 it is solid a smallpox america and the other question is who's going to need you know at some point we know that covered 19 creates a persistent immunity is when you get it and get over it so you know i think

a lot of this is is it's more of a loser and just just for the sake of keeping people optimistic well and if the virus changes we don't know that either science of constantly changing we saw that firsthand through this whole pandemic but with co-host christine jeffrey tucker on the american institute for economic research thank you both so much for your time today. the u.s. is now making progress on a plan to bring iraq's. power grid into an alliance with gulf states that include saudi arabia will a move that would take iraq away from a long standing energy relationship with iran this comes as president continues to promise that u.s. troops in iraq will be leaving very soon are 11 joining me now to discuss the details rachel what do we know so far about the steel well the u.s. is spending more than a year trying to convince iraq to cut off its energy dependence on iran and instead connect its power grid to u.s. allies in the region now what they want iraq to do is join this gulf cooperation

council which includes countries like saudi arabia the u.a.e. and kuwait and now officials are saying that such a move could be happening in the coming months now we've seen statements that include iraq's foreign minister who told the atlantic council of the project is on the verge of being defined and designed and put out to tender years as spokesperson for saudi arabia's energy minister also confirmed that the agreement is advancing towards completion so we could very well be seeing a large shift in power over the next year we're also seeing the united states make a direct with with the rock what can you tell us about those well we saw a meeting between iraq's prime minister and president trump just last week and they confirm that iraq has signed on to $8000000000.00 in energy deals with u.s. companies now when we take a look at the companies specifically that are involved in those deals they include general electric honeywell international stellar energy chevron corp and baker hughes and in a statement washington's energy secretary referred to the deals as a key to

a rock energy future so it's interesting to see how not only is this alliance here but the u.s. is also directly benefiting it really is but why why is the timing now what about the timing of this is particularly interesting where we also have to remember that all of the ways the new energy deals helped to benefit the u.s. and its allies they also hurt iran and that has been one of the main focuses specifically from the trumpet and you know we've seen the way that they worked. other countries where they take a specific target or a specific enemy or rival point them out and then want all of their allies to get us far away from them as possible you know we saw this play out with china and with wall way where the us blacklisted wall way and then told all of its allies to cut all ties and even accused the u.k. of going too far in saying that they would cut them off if they dared to work with while we imbibe and then we saw with russia in the north stream to pipeline where the us is now threatening you know sanctions against germany if they continue to

help with the construction of a pipeline so it's the same exact thing that we're seeing with iran here we're not the trump ministration is telling its allies to cut off all ties and of course in the end it is directly benefiting the us because they're the ones who could be getting those deals and there are definitely some countries a not a lot that are pushing back there are others that will say no we will listen to whatever the administration of the united states pressures us to do interesting laying out the north stream to pipeline that you did mention there has been no change germany has said that the us should not interfere and that type of agreement so i mean other alliances that they're going to continue and germany and china for example they also have a big partnership so we'll keep following the story artie's rachel blevins thank you for that report thank you. time now for a quick break but stay here because when we return the parent company of tik tok confirms it's suing the u.s. government to have a possible ban we discussed whether or not it would succeed in blocking it such an executive order and as we go to break here the numbers of the clothes i

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is your media a reflection of reality. in a world transformed. what will make you feel safe from. the isolation of the whole community. are you going the right way or are you being led to. what is true what is a lead in the world corrupted you need to descend. to join us in the depths. of the shallows. something seemed wrong. well we just don't all. get

to shape our disdain comes to council. and engage equals betrayal. when so many find themselves worlds apart. to look for common ground. so what we've got to do is identify the threats that we have it's crazy. let it be an arms race is also a spear in dramatic development only really. i don't see how it would be successful very critical. to sit. in.

the u.k. government denied plans to drop a digital tax recently placed on global tech companies on monday spokesperson for u.k. treasury told c. and b c we've been clear it's a temporary tax that will be removed once an appropriate global solution is in place and we continue to work with our international partners to reach that goal well despite u.s. pressure the u.k. has repeated this and to this day right now there is no international agreement well a country review the claims following sunday's report that chancellor planned to ditch the facebook tax the tech giants include facebook google and amazon the u.s. has threatened to impose additional tariffs on france after being the 1st to legislate a digital tock service but france has postponed collecting payments until 2021. new developments in one of the biggest tech stories of the year tick-tock now says it

will sue the trumpet ministration over its order requiring that the chinese company sell off its u.s. and north american assets or else they face an all out ban in the u.s. the move comes even as some of tick tocks biggest investors are working on a restructuring plan that miley leave microsoft or even oracle with minority. stakes here in the company well joining us now to discuss is the total of journalist ben swan and henry ford which board member with the british american business association thanks for being with me today hellery at let's let's start with you this is somewhat new territory we're seeing here is a president issued this executive order that now requires that the company divest its u.s. operations or even be shut down to they're now saying that is the only course of action is to actually take this on to the courts do you think tick tock will prevail will sarah pleasure to be back thanks for having me a couple of things here to set the context is that i think this is being portrayed very much in the u.s. anyway in particular around the selection trying that trump is against to talk well

1st of all it is the ticket has been banned already in india and australia is considering taking similar action and there's certainly a lot of concern about to talk in the u.k. again and might put a lot of pressure on them in not have the to headquarters be located in london so that sort of globally and secondly i don't think this is really just about chick talk i think it's about to talk to each and every chinese software where the companies really all owned by part owned by and report to either directly or pretty much indirectly the communist party and it's a question of the software do we want all information about americans going to the communist party so now to get to a point do i think the tick tock will prevail well i think we need to look at the major issue is here which is this great it's called the great chinese fire wall you know ever since about 2009 also more than 20 u.s. companies have been banned from doing business in china so i think when the chinese is suddenly suing the u.s. government for something that they've been doing for years we need to look at the

only chance they really have is it's really a bargaining chip do they want os to allow them to do business here when we're not allowed to do business in china certainly not google or what's up or facebook mark zuckerberg of course has been very vocal about this but also not the b.b.c. not the washington post not the wall street journal. so they're being extremely hypocritical and this case i don't think is not for a chance for to talk it's been such a political issue all this back and forth like we said it is the biggest issue of the year one could say then does tick tock even that have the legal high ground. i think they do and i think hillary is fantastic i appreciate what she had to say but i totally disagree with her on this and here's why because we are not the communists in the united states we are not the regime that blurs the lines between government and business where you have a central government that controls everything including the ability of businesses to operate or decide who has

a right to operate and not we are supposed to be the nation that is built on capitalism and free markets and the idea that you allow for free markets the problem i have with what's happening here is that we have a really unprecedented situation where a u.s. president is blocking private companies not it's true that there is a lot of questions about how data is used and serves it whether or not it goes back to the chinese government but let's also be clear about this there has been absolutely no evidence presented whatsoever that this has happened in the past in fact if you look at the terminology that is being used the word could comes up an awful lot which is that to talk could share this data with the chinese government it's also important to remember that every major tech company in the united states has themselves been fined for the abuse of data and misuse of data so one thing that if we're going to see this path continue i'd like to see reform for how data is new use not just if you have the word chinese attached to it but we've heard this before with

a with wa as well they've been bad i will leave that story since for years now and now they've been back and we still haven't seen the evidence i mean whether or not they're there and they have and they say they do we haven't seen it as american people as the american public we deserve to see it hellery back to tick tock if it's forced us off a task it's the sale of those assets could be worth between i think 25000000000 and 30000000000 now to help fund their restructuring bed by dance investors they're discussing now exchanging some or even all of their states and the chinese company with equities and tick-tock assets if this restructuring actually happens does that leave the door open then for us companies like microsoft or oracle what shut trumpets has hailed yes or as. i'd like to address that i just wanted to comment back to bed who i think ben's great too but i choose to disagree with ben to a certain degree although actually in some ways i suppose agree because that is one of the problems with capitalism is everything's about the quick buck everything's about who can make a quick buck and so in america we don't have anybody preventing sort of america being sold out to the next bigger let alone and the diverse saree that has declared

in their 100 year plan that they want to be the global dominant military as well as economic force and i think president trump is the 1st president to say wait a 2nd even though ironically of course he's a major capitalist himself but i do think at some juncture and i agree with ben about the joy of america on the freedom of america and that we're not a communist society and on the other hand at some juncture maybe we need to put on the down off and say everything isn't about the back and we can't sell out on nation now to answer your question though quickly about microsoft oracle i will say that microsoft is known as having and is purported to have great ties to the chinese communist party itself with a lot of business in china and actually i will defer to right here now peter navarro of course the white house trade advisor to trump and head of trade of manufacturing and he has actually been quoted as saying that he and the white house view and many others do oracle as being one of the smartest and toughest companies on the planet and that they've been meticulous as exact quote was meticulous in

avoiding any influence by the chinese government on my last point will be to quote him he has sort of he says it somewhat flippantly and yet he says it's not a joke it's serious you know it's a big problem when american parents maybe or maybe don't know where their children are whereas the communist government government dollars chinese government will know what they're doing and where they're doing it at least 80000000 americans who download to all especially tick-tock without loss you will see where goes from here yes and one last question mark zuckerberg facebook c.e.o. they've reportedly been at the center of warning the trumpeter ministration and other officials in washington about these dangers we saw that when they testified. a few weeks ago rising chinese tech companies including tick tock is that are helping protect the us or urge us his own company yeah i do not believe mark zuckerberg is doing anything for the country what is doing is trying to look out for his own interests because obviously tiktaalik is the biggest competitor that he faces right now especially for instagram and what mark zuckerberg needs more than anything right now is for tick-tock to go away so that he can continue to dominate

markets the way that he has in the past including right now rolling now a new item called the real deal on instagram a direct competitor yes to talk you see it and it's just like. well keep following this a lot ben so on and heller for which thank you both for being with us today. well that's it for this time catch boom bust on demand on the brand new portable t.v. app which is available on smartphones and tablets are playing on the apple app store by searching portable t.v. portable t.v. can also be downloaded on newer models sampson's marquees as well as a device to simply check out every part of about t.v. we'll see you next. no but you know here they are so being you. know yes for.

yet spoiled yet sweet. for on that we've previously here is the book to read. for just a few you know pretty good history you know yet spur of the soldier it is. just beautiful day to get the word for it but. these are the stories of men who can't imagine life without fashion without a sense of style without things that might be seen as weakness in this masculine world but they still demonstrate incredible strength of spirit to live as they choose. to call them to learn to forgive of years of use good. for the.

same wrong. roll call. me call me yet to shape out disdain for the company as a whole and engage equals betrayal. when so many find themselves worlds apart when she's to look for common ground.

a german clinic treating the gravely ill russian opposition activist says it's found traces of a substance that affects the nervous system at the spot russian doctors saying they could find no toxins in his blood. a weekend of huge rallies passed off peacefully in belarus 2 weeks after the disputed election with tens of thousands calling for him to quit president lukashenko thank the police for their support. the questionable. someone to the russian foreign ministry in moscow after vienna said it's expelling a rush.