they're probably the only really i'm going to resist i don't see how that strategy will be successful very critical dharm time to sit down and talk. a. bit of boom bust the one business show you can't afford to miss unfair montecito going to washington coming up the trump administration ok's comp a less than plasma treatment for cobra 19 but questions remain about just how effective the therapy actually is and the parent company of take talking from suing

the u.s. government ahead of a possible ban it's yet another legal battle between the u.s. and china we have a lot to get to so let's get started. over the weekend president trump announced the f.d.a. emergency approval of convalescent plasma for coping 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 plasma. this is a. powerful therapy that trance uses 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 flan 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 covert 19 and that liquid portion can be extracted and for many years as the president secretaries are 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 an i.d.s. dr anthony fauci 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-developed. by astra zeneca an 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 it's going to hold a annual jackson hall 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 and i'm not saying this is right or wrong is 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 present strength in the financial markets is due to the fed's actions i do when i say that i don't i don't know that these are healthy actions they might in fact be highly disciplined 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 you start to see a lot of operative or movement on prices already or definite. seeing that word mobility on prices that the federal reserve says 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 markets this morning it looks like the markets all the nasdaq the dow and the s. and p. they're all rallying they 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 they did 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. and the nasdaq both had new all time record highs but stocks 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 bres 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 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 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'm not the senate go but some people think that they only need to kind of keep keep things going for another couple months that all this is being driven by election politics and of tests 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 further 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 the 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 lockdowns in the mass mandates and everything else that they don't see a way to kind of pull 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 equal 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 why 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 and we've seen ever since the great depression. what's going on here well this is a solvency crisis essentially is busily what jeffrey 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 but companies are entering into a long term solvency crisis and these 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 a low demand low capacity collapsing cash flows and basically elevated costs right now so all these large u.s. company bankruptcies are running out 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 the longer it's going to take jeffrey

a lot of this positive bias today obviously driven by what we just said the plasma 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. well probably i'm not sure that the person in question really i mean this is this example this should have always been left to the medical doctors to do with it and should have never involved the politicians there's a lot of experimentation going on right now with sarah 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 has seen you know this sweden style herd immunity is already affected the northeast you're seeing this wind down to the to the to the to the south and to the sunbelt and so lunch i mean what happens a virus comes people get it. 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 1000 creates a persistent immunity 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 scientists constantly changing we saw that firsthand through this whole pandemic but with co-host christiane and 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 well a move that would take iraq away from a longstanding energy relationship with iran that comes as president continues to promise that u.s. troops in iraq will be leaving very soon are

a lot of joining me now to discuss the details rachel what we know so far about this deal well the u.s. is spending more than a year trying to convince iraq to cut off its energy dependence on iran and instead connected powergrid to u.s. allies in the region now what they want iraq to do is join this goal of quad. 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 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 the 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 well 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 ministration you know we've seen the way that they worked with other countries where they take a specific target or a specific and a mere rival point them out and then want all of their allies to give us far away from them as possible you know we saw this play out with china and with wall way where the u.s. 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 have 5 g. and then we saw with russia in the north stream to pipeline where the u.s. is now threatening sanctions against germany if they continue to. help with the construction of up pipeline so it's the same exact thing that we're seeing with the wrong here we're not the truck ministration is telling its allies to cut off all ties and of course in the end it is directly benefiting the u.s. because they're the ones who could be getting those deals right and there are definitely some countries a not a lot that are pushing back there are others that will say you know 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 u.s. 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 take talking firms it's suing the u.s. government ahead of a possible ban we discuss whether or not it would succeed in balking at such an executive order and as we go to break here the numbers at the club i. i. i i. i. i. i i i i.

i. you know but you know here they are so being you. know yes it's for. boys yet spoiled yet sweet. for on that we've gotten pretty traditional as a look to repeat here for just going to be you know pretty good world history you know yes. so those are good news for d.h. just really they didn't get the word were the words 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 hold them to let's have a group of us of us get. through for it but. it. seemed wrong. roll call. me. yet to shape out this day become educated and engaged equals betrayal. when so many find themselves worlds apart when she's to look for common ground. 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. located journalist ben swan and henry ford which board member with the british american business association thanks for being with me today hilary it let's let's start with you this is somewhat new territory we're seeing here as the president issued this executive order that it 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 well sorry pleasure to be back thanks for having me a couple of things here to set the context is that i think this. has been portrayed very much in the us anyway in particular around the selection time that trump is against to talk will 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 to not have the tick tock 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 reach out and every chinese software where the companies really are owned by part owned by and report to either directly or pretty much indirectly the communist party and it's a question of that 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 what 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 are 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 or do they want us 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 on this case i don't think it's not from a chance for to talk it's been such a political issue all this back and forth and like we said it is the biggest issue of the year one could say then does tick tock even that have a legal high ground. i think they do with i think hillary's friends as the guy 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. realty of business is to operate or decide who has a right to operate it 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 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 its assets 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 stakes in 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 should trumpets have hailed yes or actually i'd like to address that i just i wanted to comment back to ben who i think ben's great too but i just disagree with ben to a son 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 bitter 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 lockdown 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 as oracle i will say that microsoft is known as having a 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 in 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 $80000000.00 americans who download ticked all all especially tech talk without loss you will see where goes from here yes and one last question mark zuckerberg facebook c.e.o. 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 raising chinese tech companies including tick-tock is helping protect the u.s. or urges his own company. i do not believe mark zuckerberg is doing many things for the country what is doing this trying to look out for his own interest because obviously to god is the biggest competitor that he faces right now especially. the for instagram and what mark zuckerberg needs more than anything right now is for tick talk 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 grail on instagram

a direct competitor yes to talk you see it and it's just like. well keep falling that's a lot benson on an l.a. farm which thank you both for being with us today. well that's it for this time catch bill must on demand on the brand new portable t.v. app which is available on smartphones and tablets a play on the apple app store by searching portable t.v. portable t.v. can also be downloaded on newer model phantom's parties as author of the devices constantly check it out as part of about t.v. well the next. thing has changed american lives but pharmaceutical companies have a miraculous solution. based drugs the people who are chronic pain and believe that

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german medics treating a prominent russian opposition activists say they found traces of a toxin in his system a conclusion though that does contradict the findings of russian doctors who 1st treated alexina bound and i offered to send their findings to being named meanwhile one of the doctors who treat an avowal maker in russia says he and his family received online threats of violence. with my personal and my family my children have received dozens of physical threats god will judge those people who treated me about only not this sleep those threats were not his fault. that. in the us riot is in.