news out of australia as the nation suffered its worst quarterly drop in g.d.p. on record entering its 1st recession in nearly 30 years and a record run of 28 consecutive years of economic growth has now officially come to an end the cause a once in a century pandemic the effect a covert 9 tain in joost recission. real g.d.p. fill in the june quarter by 7 percent the largest quarterly fool on record the previous record for economic contraction was 2 percent in a quarter recorded in 1994 and addressed australian parliament prime minister scott morrison characterized this as a devastating day for australia but promised it assumes a strong recovery. and mr speaker is the penn dimmick continues to have a team packed not just team is to speak up but all around the world they will be

for the difficult days ahead is how much and is severe and as heavy as these blah ease on the stride to die mr speaker we know that as a government that we have acted to seek to cushion the blow as much as we possibly can and that is being done at a great cost and a price to speak it would be a strategy that will recover. and destroy it will grow again and the jobs will come back and i will support the lives and livelihoods of all the strident as i have in the past for more on this let's bring in jeffrey tucker editorial director at the american institute for economic research and host of economic update professor richard wolfe thank you both for being here today professor wolf i want to start with you what do you make of the this end to economic growth in australia and is this whole situation due to the pandemic or was it already on the horizon and what more can the country do after injecting more than $200000000000.00 in stimulus

measures earlier this year. well there are several things capitalism is an unstable it's just the men wherever it is sent over the rise why the economic ups and downs the average every 47 years an economic downturn or there are occasional outliers who don't have that average or here's the lesson of history if you don't have it every 4 to 7 years when you finally get it it tends to be a doozy be krug against it it related imbalances or strand it would like the name of the pirates that's very popular around the world for which you have an economic system that nolte's it is unstable nolde it needs to prepare for it knows it needs to take care of a mass of the people or provide them the most or destroy you didn't do most of those things imagining the good times would last forever and i'll be in a sense having to face the music and it's really convenient to blame the pandemic

or the tenor best only part of the story now jeffrey obviously you've been very critical of lockdown measures while on the show in the past are we going to continue to see these democrat dire economic news out of nations throughout the world due to the handling of the pandemic. yes and the only thing not prosperous that the professor just said is that it's not took a cause of code but everything else he said was ridiculous i'm sorry this is caused by the lockdown this is a manmade disaster and as much as i enjoyed the prayer for the prime minister if he would get his boots off the neck of the people of australia and that also goes for dan andrews the appalling outrageous policies that he's perpetuated to melbourne in which police are arresting people for even disagreeing with him this is what needs to end you want to soften the blow the read of the as this catastrophic economic times in australia and the lockdowns there was no recession in the cards this is a completely caused by outrageous discussed in government policies and that

includes the internal controls on migration from east to west the people of australia need our are our prayers right now to end the suppression now professor wolf obviously disagrees with you have to give you an opportunity to respond there . well you know this is one way of debating a words like that i'm not going to send it out i'll read that to him all i can tell you is when you blame government policy only old or new question why that pollack the why did they do that what are the courses in with this that make a politician aid in this way they are not the source of evil they are his response there what else is going on in the society as anyone else the inequality in australia is off the chart the big gap between what capital takes on and what labor takes every getting worst and worst of it is fixed on that are crystal clear that's

part of the problem of an economy when it becomes money we're misplay and that dates the pandemic makes the whole situation worse and governs in fact much of what is happening now when the convenience of blaming the pandemic or even more are the notion that it's not the pandemic but the particular policies being followed that somehow above all and makes the issue of economics and all the fundamental forces at work disappear so you can leave it with the blaming of the particular politician which really we ought to have outgrown long ago now jeffrey i'm going to i'm going to move on to another little piece of information here out of the united states federal reserve governor brainer that said today the fed will need to actually take more action in coming months to fight the impact of the krona virus pandemic mentioning hitting inflation goals and what full in on at their full employment in your opinion jeffrey can the fed do any more as they've interviewed in the economy

so much recently. no. the fed has nothing to do here to fix this economy what you need is an end to the restrictions and the lock downs in the end the travel bans and everything else which are perpetuating themselves in the u.s. the u.s. right now has one of the most high the highest rating rankings on the stringency index out of oxford university bested only by places like australia so we need to end this and there's nothing the fed can do i mean except tread paper which is going to create more distortions and trouble believe generated inflation once the recovery happens if it does happen so no the fed cannot to do this the fed has no magic magic tool to make the economy recover again i'll repeat this is a manmade recession you don't need karl marx to explain what's going on the world economy what you need is george orwell now and i want to i want to move to

a little bit of positive news out of the united states obviously we go back and forth on those points all day here but the institute for supply management announced today that u.s. manufacturing activity had actually surged to its highest level in more than 16 years for the month of august professor wolf if this is a sign of recovery here in the united states or are we just seeing the sector make up for those last time that we had in the 1st months of the shut out. yeah they took a number of steps the private enterprises to prepare and to get through a difficult time and they became old world particularly in july difficult times were and never proved to be a mistake and what you're seeing in august in a bit of a blip about this when they made some decisions given the failure of the government to continue the stimulus the extra $600.00 for unemployment given the moon you know our egyptian crisis that everyone is worried about i think you'll see very quickly in september and l.

work on the return in the opposite kind of situation. we are not i would in this country mostly communists left right and center except for a certain extremes all who are normal the world understand that and they are reacting to this that there's with that current norm very nice we all want part of the woods not a long shot and jeffrey i want to give you the final word here we got about 45 seconds left what do you see in the u.s. economy obviously i know you want to lift the lockdown to move forward but what else are you saying and. i agree actually we're far from being out of the woods i'm schrade what we're going to be dealing with in the coming months if not years the liquidation and every sector with the exception of high technology and big business which is tremendously tragic we've lost more than 100000 hmong in as businesses and i don't think real estate in big cities is

even begun to respond to the mass exodus that we're seeing driven by these these agreed just policies so it's very hard economic times ahead and yes you're going to see some positive numbers from time to time but you know as i said back in march if if all else is ended right then we could have recovered but we're so far past that at this point we've got very difficult economic times ahead very different economic ideals here from jeffrey tucker editorial director at the american institute for economic research and host of economic update professor rich well thank you both for that expert analysis. and as we see the strain the colbert 19 pandemic is taking on economies let's take another look at the trends and spread of the virus with our 2 correspondents side tab injured so i will we wednesday what is the outlook when it comes to sex scene development i know you've been following that so brand right now the number globally is approaching 26000000 actually now

we're over 26000000 confirmed deaths over 864000 70 percent of that $26000000.00 have been recovered now the u.s. which is a report of the worst cold in $1000.00 break over $6200000.00 cases and over 189000 deaths and the u.s. reported a little over $43000.00 cases on tuesday now they're pushing the 7 day average of new cases around a little over $42000.00 now that's up point 6 percent compared to a week ago but that's not bad since the average weekly growth has been around 10 to 15 percent increase so this is promising and then to get back to your earlier question i want to take a look at where we are right now redeveloping a cold in $1000.00 vaccine so manufacturers are now testing 3 covert vaccines

on large scale trials and each study is the zine to enroll $30000.00 participants in the u.s. now the 1st one is a british drug maker astra zeneca developed at oxford university is already in phase 3 trials in the united kingdom now they use the 1st us volunteers were vaccinated today at the university of wisconsin school of medicine and astra zeneca plans to add 50 participants each day after september 7th now astra zeneca also has the backing of us federal government and they're working with the us government to produce billions of dollars says the vaccine. once it's our authorized or i should say it once it's approved now rivals. and pfizer by you and tech now these 2 their collaboration between the chu they're also in face 3 trials and like seneca they also have us federal funding now the only difference between these 3 is that astra

zeneca is already has participants but both modernity and pfizer buy and take there is still just in the process of unrolling their stated goals of $30000.00 volunteers each so even though both companies have trials and rolled in other countries they need to have those 30000 volunteers here in the us in order for it to be approved for use now that could change of course because in a trial of this size researchers say they'll know if a vaccine is effective after a few as many as $15275.00 infections about additional into the u.s. both china and russia say they're going to start releasing vaccines before completing their late stage clinical trials brant so sorry there was actually some research published today regarding corticosteroids q tell us about that so corticosteroids there are a class of drugs that are inflammation in the body and they're all often prescribed

to patients that have. their very wily use you'll see there was inhalers you see a lot of patients with as more walking around with now and because the so this quarter this steroids i should say because it decreases inflammation in the airways of your lungs and prevents asthma flare ups researchers soon realized that it could also help cope in 1000 patients with acute respiratory distress but you know steroids have already been widely used to treat very sick over 19 patients for months now now the only difference this time is that researchers that these researchers study i should say is now officially published in the. burnell of the american medical association and has also been approved by the world health organization w h o and also their major significance of this study is that it states their weights don't offer any major side effects when used and called in 1000 patients so a lot of the other medications out there been saying that could call been 1000 medication in the past but does have side effects this one doesn't therefore so

therefore this study but doesn't really change anything since steroids have already been in use for these patients but now that it has the seal of approval from w.h.o. that could give a lot of poorer nations access to these there would that would treat kovan 1000 patients so that is pretty significant brand r.t. correspondents thermistor thank you for keeping us up to date. tensions over the completion of the north stream 2 pipeline continue to mount as german chancellor angela merkel voiced her support for the project completion this comes as germany tested samples taken from russian opposition leader alexina vonnie german the german government spokesperson stephan cyber stated in a volley was the victim of an attack with a chemical nerve agent in russia but last week merkel are good that the issue should not be linked to the fate of the pipeline. i don't think it's appropriate to

link this business operating project north stream to gas pipeline with the name question our opinion is the north stream to should be complete it is a project that is run by the russian the european industries to link this project. is inappropriate and we are also against that and should turn toward you sanctions that the united states of america has imposed in the north stream to is the pipeline carrying natural gas from russia to europe across the baltic sea to date 93.5 percent of the project is complete work pause following u.s. sanctions on a swiss pipeline company. time now for a quick break but hang here because. when we return amid the new normal of home delivery in the times of amazon has won approval to blaze a new trail in the sector later on we're going to take a look at the new age of aerial delivery and what this could mean for the future of home shopping as we go to break down the numbers of the clothes.

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in the depths. of the shallowness. she stressed to. this or that the british and the bill of voted out that was to. stop the show was so here she bent a statistic to she's a c.e.o. which quite a shock. to which she never happened and i know what you mean by the member states future. for sure i. want to talk to you shortly through my if you promise for to be. good to mr ellsworth supporters are still with spittle for this interview for you both to do just that it's a studio actually a person to be vocal or should stop them spinning.

expressed she. will look forward to talking to you all. that technology should work for people. i robot must obey the orders given it by human beings except where such orders would conflict with the 1st law show your identification for should be very careful about artificial intelligence and the point of view screen is to trace trust's evidence here. inflicting on various chozen with artificial intelligence will summon the demon. must protect its own existence has existed.

when i was still small seemed wrong when old rules just don't hold. any new world yet to stamp out disdain becomes agitated and engagement equals betrayal. when to many find themselves worlds apart we choose to look for common ground. and welcome back earlier this week there was some big news for amazon as the company has one f.a. approval to deliver packages by drone now it's a big step for the e-commerce giant who has been working on the concept of drone delivery for years as long ago as 2013 amazon c.e.o. jeff bezos had said that the drones would be flying to customer's homes within 5 years now these drones are self piloting fully electric and can carry 5 pounds of

goods and are designed to deliver items and 30 minutes by dropping them in a backyard but this latest step toward the future certainly raises many questions so joining us now to answer some of those questions is boom ringback bust co-host an investigative journalist and salon and mike israel president and c.e.o. of air views now mike i actually want to start with you on this i appreciate you coming on today to talk about this now this is a huge milestone for not only the e-commerce industry but also for the drone industry but will this concept actually work. i think this is a big step emmas and actually was to this 3rd company that has this level of rules for drone delivery. here and wondered screening and u.b.s. got less long i think it's important to keep in mind that there are still. struggles ahead here not so much the technology the technology i think is is

actually. is there and you know that they're working on making it. there's still some major regulatory hurdles trouville that amazon. is quite restrictions that are actually proved under the f.a.a. rules as under the same rules that church carriers get their sort of patients and they had to get some exemptions from the. it's very restrictive the terms of. population density were there to deliver the 5 pound limitation think that's going to take a while and i think the bigger issue to me is just going to be the economics you know and this won't. fully expect a drone delivery is going to saying it's a question of how how much or commerce is going to it's going to reach a place through this when it is competing against. other forms of delivery that are

most cases much more right now bend the south was good but there there have to be some drawbacks i mean obviously mike just mentioned some but what kind of hurdles are we looking at when it comes to drone delivery. yeah michael brought up some important points there but i think there's a some others as well i mean listen drone delivery sounds amazing the idea that you can get something ordered to you in 30 minutes is terrific the problem is obviously weather plays a huge factor in that we don't know exactly how drones will respond to certain kinds of weather and heavy storms the other question would be the issue of people interfering with them we know that even as it is right now there are people who like to try to shoot down drones with that become an issue where people are trying to to knock the drones out of the sky or shoot them out of the sky and then of course you also have the issue of where as michael said where do you actually place those drones in terms of landing if you're in an area that's an apartment complex that's much harder to do right now amazon says they'll put them in people's back yards will drop your package off a what if you don't have a backyard or what if again you know the the problem we have with something called

porch pirates who essentially go and steal your amazon packages off your front porch with a drone flies over your backyard lands and drops or drops a package back there that might tip off the pirates as well so i think there's a lot of kind of issues that you have to look at in terms of will this actually work not just as an idea but in in the actual concept and the execution of it when it becomes one of those concerns that the next fad you know we spend a lot of time working our way to certain technologies and then a lot of times what happens is what the technologies are and acted nobody cares anymore because they didn't quite work the way that we had planned but mike i want to ask you this if i am as i can get the program off the ground if you will how much of an advantage does it give amazon over any threat of a competitor like something like wal-mart. but they can certainly. be able to do just you know if you want something you'll have it. can 30 minutes. that's going to

be compelling for a certain. percentage of the population for certain patients. in terms of it's just going to be delivering groceries on a regular basis i think there's some fundamental. curls there in terms of the economics and just the fact that players fundamentally. fundamentally what. industry is huge but here is just a tiny percentage of 3. cases it's just for cheaper so than a. train or a truck or some combination and for most things. there certainly will give them an advantage when it comes to you know the customers that want something right and it seems like you know i think the big concern that i have too is if you think about this if it were to work and they were to roll this out at a large scale are we going to be spending our lives with just constant drone noise where hundreds of them are flying over cities at all times crazy to think about now

ben while this all sounds very convenient there have been some concerns about privacy what are those yeah there are concerns by the way i was about to make that exact same point brant which is that if this were to actually come to fruition you might have literally thousands of drones hovering all the time and flying around while as a result of even just that concept senator ed markey of massachusetts is a democrat he has not introduced a bill saying he wants very specific regulations as to what data is being collected and what information is being collected by those drones because if you have drones flying overhead they're collecting information about not only what products are going out but where they're being dropped off and and all that kind of thing he wants to know whether or not there is even security in place to protect consumers who again are going to be watched and monitored in some cases by drones boom bust cosin by an investigative journalist ben swan and mike israel president and c.e.o. of air views thank you both for the excellent analysis here. and finally finally

see sports and gambling company drafting announced on wednesday n.b.a. legend michael jordan will join its board as a special advisor and will take an undisclosed equity stake in the firm now according to draft the 6 time champion will provide strategic and creative advice. in the field of product development and marketing legend has been long known for its gambling exploits in the 2020 documentary the last dance which followed jordan's final season with the chicago bulls well he said he didn't quite have a gambling problem but more of a competition problem which may be easy to say when you're worth nearly $2000000000.00 on the news drafting stock price spiked as much as 6 per cent adding nearly 800 $1000000.00 to its market cap which was already at more than $13000000000.00 at tuesday's close and that's it for this time he's catching the bus on demand on the brand new portable t.v.'s which is available on smartphones or tablets google play on the apple app store by searching portable t.v. you can also download it on a newer model samsung smart t.v.'s as well as a roku devices or simply check it out at portable t.v.

we'll see you next time. trade and investment to become magic spells to come get you could make development . most people think about trade they think about goods and services being exchanged between countries and the investment chapter of a trade agreement is a post something very different but won't win investment leads to toxic manufacturing that destroys sacred sites or ruins the environment. that means local communities that are being poisoned with a object if they do anything that the company feels is interrupting their profits they can do no multinationals are taking on the whole nation still in the arse is

trying to use i.s.t.'s to stop the work of life from implementing new regulations aimed at cutting domestic smoking rates a french company sued egypt. because egypt resists minimum wage democratic choice trump corporate. joint says we try to find out what to watch. so what we've got to do is identify the threats that we have it's crazy confrontation let it be an arms race. spearing dramatic developments only personally i'm going to resist i don't see how that strategy will be successful very. time to sit down and talk. throughout its history to harvest with the self-proclaimed islamic state terrorist

group have recruited up to 30000 foreigners from all over the world to fight for them. in. sounds of russian citizens left their country to join the terrorists often bringing wives and children with them. yes and above and i didn't post on you you see me as and you could no. more new to the. hundreds of children and widows were held captive all disappeared. back in russia those children families went search for.

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