in the ground. for one is it's not the reason that we're not trying to preserve the bones. in time to the process of decomposition. all the generations. the gold is the elemental again the means to a similar. kind that's the way i look so for all this tuesday your next update from me in the moscow news team follows our latest money update from the boom bust team over in washington d.c. . join me every thursday on the alex simon sure and i'll be speaking to give to the world of politics sports business i'm sure i'll see you then.

this is the one business show you can't afford to miss unfair montecito going to washington coming up the trump administration ok's complex and treatment for covert 19 but questions remain about just how effective the therapy actually is and the parent company of take top confirmed it's doing 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. a merge and see 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 such as 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 plasma 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 the 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 don't 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 definitely think that 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 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 games 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 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'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 stringent seeds 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 partially it's 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 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 a thing 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 for 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 yes he 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 are 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 and 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 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 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 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 sweden style herd immunity has 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 is if in fact we have this vaccine coming along how long it's going to work forward it's not going to be to it as solid as 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 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 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 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 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 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 trumpery 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 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 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 such an executive order and as we go to break here the numbers at the club i i. i.

hooper though you know they have so being you. just can't. imagine life without fashion. style without things that might be seen as weakness in this masculine world. still demonstrate incredible strength. to.

choose. it's seemed wrong. to me to get to shape out just because get educated and engagement equals betrayal. when so many find themselves worlds apart. just to look for common ground. the u.k. government denied plans to drop

a digital tax recently placed on global tech companies on monday a 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. 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 as the president issued this executive down there 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 is being portrayed very much in the u.s. anyway in particular around the selection trying that trying because again. first 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 your 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 on 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 in this case i don't think it's not for a chance for to talk it's been such a political issue all this back and forth and like we said the biggest issue of the year one could say then does tick-tock even 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 night it's true that there is a lot of questions about how data is used and serve 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 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 the restructuring bed by dance investors they're discussing now exchanging some or even all of their states in the chinese company with equities and tick-tock assets if this restructuring actually happens does that leave the door open then for u.s. 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 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 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 as 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 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 americans who download ticked 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 trumpet 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 barber helping protect the u.s. or urges his own company yeah i do not believe mark zuckerberg is that we many thing 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 to talk to go away so that he can continue to dominate markets the way that he has in the past including right now rowley 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 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 will play on the apple app store by searching portable t.v. portable t.v. can also be downloaded on newer models have 10 parties as well either of the devices are simply check it out as part of about t.v. we'll see you next. summer lucia that's right we talk about problems all year and then that summer time we come up with all solutions that say we're just being joined by a banker churn calling us from your simon dixon of banks the future long term friend of this.

journey has changed american lives but pharmaceutical companies have a miraculous solution. based drugs talk to people who are chronic pain patients believe that their opioid prescription is working for them on the remedy be similar to the price at the. grocery dependency and addiction to opiates to long term use. it really is and scientifically. actually suggest that. the long term effects may not just be the absence of benefit but actually the long term. so what we've got to do is identify the threats that we have it's crazy confrontation let it be an arms race. period dramatic development the only personally i'm going to resist i don't see it. will be successful very. time

to sit down and talk. the kremlin expresses concern about an investigation into the alleged poisoning of opposition activists alexina valmy the president spokes person claims there are no grounds yet for any criminal probe as a range of different medical theories haven't been ruled out meanwhile one of the doctors who 1st treated me in russia says threats have been made against him and his family. and i personally my family my children have received dozens of physical threats go to judge those people who treated me about only this leave those threats were not to school. also this hour pro and anti-government rallies are held in the by the russian capital with no sign of tension and. that's just the country's opposition leader who fled to address the european parliament once again.