erupted you need to descend. to join us in the. forum even in the shallows. the boom bust the one business show you can't afford to metropolis and 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 the chinese for 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

a covert 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 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 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. and 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 christine 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 and i'm not saying this is right or wrong is more money more a lose lose spawn a trade policy more and more of 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 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 the 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 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 that didn't dip briefly into negative territory this morning as apple and tesla sold off very violently in the late morning a little pullback as unsurprising here for apple given the fact that it did jump about 8 percent last week ahead of it for 4 months 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 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 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 there 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 you know 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 u.s. 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 u.s. the u.s. 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 again. tomorrow's versus last week so these stringencies continue in place and i think that more than a thing else is the source of a lot of the economic dislocation and that we. hold ation that christine mentioned in the financial markets were just a handful of companies we have to open up this economy we need to do it really so we should've done it 4 months ago but it needs to happen right away and whether whether about 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 but companies are entering into a long term solvency crisis and these at essential they 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. over

$1000000000.00 have already filed for chapter 11 bankruptcy here in the us 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 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 of that but 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 therapeutic time that 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 sweden style herd immunity is already affected the northeast you're seeing 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. if in fact we have this vaccine coming along how long it's going to work forward it's not going to be too it is solved 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 is when you get it and get over it so you know i think a lot of this is is it's more illusory 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 boom 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 trump continues to promise that u.s. troops in iraq will be leaving very soon our beloved joins 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 tenders 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 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's 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 when 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 her on and that has been one of the main focuses specifically from the trumping ministration 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 give 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 the wrong 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 at the club i

i. i. no but you know you know they have so being you.

just can't feel pretty good. oh yeah it's. so. good they just they did. for. 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 and spirit to live as they choose. for.

why don't we just don't. get to. come out to. it in detroit equals betrayal. when so many find themselves worlds apart if we choose 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.n.n. you see 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 the country rebuked 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 toc 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 work. on a restructuring plan that my we 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 hillary 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 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 sara 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. 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 that it doesn't take talk even to have illegal 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 u.s. president is blocking private companies not it's true that there is

a lot of questions about how data is used and served and 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 banned 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 as american people as the american public we deserve to see it hellery back to tick tock if it . forced us off its assets the sale of those assets could be worth between i think

25000000000 and 30000000000 now to help fund the restructuring but 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 which trumpets has failed yes or actually i'd like to address that i just wanted to comment back to ben who i think ben's great too but i just 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 an adverse 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 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 his exact quote was meticulous in avoiding any influence by the chinese government and 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 dollars chinese government will know what

they're doing and where they're doing it at least $80000000.00 americans who download all especially tech talk without lawsuit will see what goes from here you have found one last question mark zuckerberg say facebook c.e.o. have reportedly been at the center of warning the top administration and other officials in washington about these dangerous we saw that when they testified a few weeks ago raising chinese tech companies including tick-tock is that barbara helping protect the u.s. or urges his own company yeah i do not believe mark zuckerberg is that we may think for the country what is doing is trying to look out for his own interest 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 to 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 deal on instagram a direct competitor yes to talk you see it and it's just like take toxo we'll keep following this along 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 will play on the apple app store by searching portable t.v. portable t.v. can also be downloaded on newer models have to parties as well other of the devices or simply check it out as part of about t.v. we'll see that. has changed. the pharmaceutical companies have a miraculous solution. based drugs talk to people who are chronic pain patients to believe that their opioid prescription is working for them on the river to be sent to well. dependency and addiction to opiates.

really isn't scientifically justified and i'll study actually suggest that. the long term effects might not just be absence of benefit but actually the long term. solution. we talk about problems that summer when we come up with solutions that say we're being joined by bankers big. banks. who put oh here they are so being you. know yes it's for. yes yes it's. pretty. fair just you should be pretty good to me you know yes. shows are usually

good gauge just they take you. through for. 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. a moment to look. through. so what we've got to do is identify the threats that we have it's crazy to. let it be an arms race in this very dramatic development that only personally i'm going to resist i don't see how that strategy will be successful very. time to sit down and talk.

the headlines in our say the kremlin expresses concern about an investigation into the alleged poisoning of opposition activists alexina president spokes person claims there are no grounds yet for any criminal probe as a range of different medical theories have been ruled meanwhile one of the doctors who 1st treated me in russia said threats have been made against him and his family . my personal it my family my children have received dozens of physical threats god will judge those people who treated. those threats were not to school. and in the u.s. right.