most people think about trade they think about goods and services being exchanged between countries and the investment chapter of a trade agreement is about something very different but won't when investment leads to toxic manufacturing that destroys secrets into the environment. that means local communities that are being poisoned jack if they do anything that the company feels is interrupting their profits they can do now multinationals are taking on the whole nation philip morris is trying to use i.d.'s to stop. implementing new tobacco regulations aimed at cutting domestic smoking rates a french company sued egypt because egypt resists minimum wage and democratic choice of the trump cool bridge will join us as we try to find one of the 2.

this is boom bust the one business show you care to afford to miss i'm french born washington coming up. this is i did a study die for stranded australia is feeling the strain of the democrats the island nation enters its 1st recession in 30 years we'll break down the state of oceana's largest economy plus a major new normal of home delivery in the times of co but amazon has won approval to blaze a new trail in the sector later on we look into the new age of aerial delivery and what this could mean for the future of home shopping the packed show today so let's dive right in. and we lead the program with worrisome economic 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. our 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 of a covert 19 induced recession. real g.d.p. fill in the june quarter by 7 percent. the largest quarterly fall on record the previous record for economic contraction was 2 percent in a quarter recorded in 1974 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 pain dimmick continues to have its impact not just team is to speak of but all around the world there will be further

difficult days ahead is hash and as severe and as heavy as these blow weeds on the stride to die mr speaker we know that as a government that we have acted to seek to cushion that blow as much as we possibly can and that is being done at a great cost and a price is to speak up with a strategy that will recover and a strike 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 amongst people just lament wherever it is said go over the rise of the economic ups and downs they average every 7 years in 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 7 years when you finally get it it tends to be a do g.b. card add to it related imbalance in australia would like the name of the prior us that's very popular around the world where you have an economic system that nola is unstable nolde it needs to prepare for it knows it needs to take care of the mess of the people at the bottom. or it's true you didn't do most of both games imagining the good times would last for ever and now that in a sense. having to face the music and it's really convenient to blame the pandemic or 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 at the professor just said is that it's not a cause of code but everything else he said was ridiculous i'm sorry this is caused by the lock down 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 a 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 is 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 prayers right now to end this oppression 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 resources 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 gap between what capital takes on and what labor takes on 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 an equal in this way 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 and 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 brainard said today the fed will need to actually take more action in coming months to fight the impact of the crow virus pandemic mentioning hitting inflation goals and what full and on it there full employment in your opinion jeffrey can the fed do anymore 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 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 do this the fed has no magic magic tool to make the economy recover again i'll repeat this is a man made recession you don't need karl marx to explain what's going on the world economy what you need is george orwell now 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 shutouts. yeah they took a number of steps the private enterprises do here and to get through a difficult time they became old world particularly in july difficult time were and not proved to be a mistake and what you're seeing in august in a bit of a blip about 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 journey opposite kind of situation. we are not i would in this

country most economists 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 afraid we're going to be dealing with in the coming months if not years that shoots 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 and 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 without your correspondent 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 or authorize or i should say 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 a 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 u.s. in order for it to be approved for us now that could change of course because in the trial of this size researchers say they'll know if a vaccine is effective after a few as many as $150.00 to $175.00 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 asthma 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 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 there 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 used 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 brant are to correspondent major thank you for keeping us up to date. tensions over the completion of the north stream to 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 germany 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 nor strain to gas pipeline with the name

question our opinion is the north stream to should be completely 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. 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 and what this could mean for the future of home shopping as we go to break the numbers of the clothes.

she said she stressed to make sure that the british and the bill of voted out that . south asia was so your she then taste of this shit is she's a c.e.o. which quite a shock. which is enough time now look what you've seen in the response i get your girly man for sure and. want to go to the shores of your home or if you're going to be. good to mr. i'm still with them to. pull through this interview valuable piece that it's a studio actually

a person believe them or should stop them spinning. shows seemed wrong. but old rules just don't hold. any of the old beliefs yet to shape out of disdain comes to educate and indeed from an equals betrayal. when so many find themselves worlds apart when she still looks for common ground. throughout its history with the self-proclaimed islamic state terrorist group the group should up 230000 following us from all over the world to find.

sounds of russian citizens left their country to join the terrorist often bringing wives and children with them. the. hundreds of children and widows were held captive disappeared. in russia those children families wait. 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 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 customers 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 in 30 minutes by dropping them in a backyard but this latest step toward the future is certainly raises many questions so joining us now to answer some of those questions is blue bus coast an investigative journalist. and like israel president and c.e.o. of air. views 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 in actually was the 3rd company that has got this level of proof for

drone delivery. will succeed here you've got 100 screen and then u.b.s. got one last fall i think it's important to keep in mind that there are still a lot of. obstacles ahead here not so much the technology the technology i think is is actually. is there i think you know that they're working on making it. there's still some major regulatory hurdles the approval that amazon and the other folks at is quite restrictions that are actually approved under the f.a.a. rules as under the same rules that church carriers get their certifications and they had to get some exemptions from that. it's very restrictive the terms of the. 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. actually expect a drone delivery is going to saying it's a question of how how much or. commerce is going to is going to reach a place through this when it is competing against. other forms of delivery that are most cases much more right now ben this author 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 or what if you don't have a backyard or what if again you know the problem the problem we have with some call 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 technologies are enacted 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 ever. could 30 minutes. that's going to be compelling for a certain. sense of the population for certain patients. in terms of it's just going to be delivering groceries on a regular basis i change fundamental. curls there in terms of the economics and just the fact that players fundamentally. industry is huge but here is just a tiny percentage of 3. cases it's just for cheaper so they're not a. train or a truck or some combination and for most things. there's certainly will give them

the damage when it comes to you know the customer that wants 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 it's not a 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 want 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 well 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 now 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 cosyn 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 the n.b.a. 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 8 $100000000.00 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 on demand on the brand new portable t.v.'s which is available on smartphones or tablets through google play on the apple app store by searching portable t.v. you can also download a newer model samsung smart t.v.'s as well as a broken devices or simply check it out at portable t.v. we'll see you next time. the left is sensing a loss in november election and they're trying to cause trouble they're stirring the pot and they're trying to get a little bit of a civil war going but they can blame trump for that and one way to do that is by saying it's ok to live the small businesses and that is.

really common man stirs social unrest looting and violence that's what the left is up to now. during the vietnam war u.s. forces. it was a secret war. and for years the american people did not know. how much of it is actually. country per capita. human history millions of unexploded bombs still in danger lives in this small group. country jordan i mean we don't. even today kids in los full victims of bombs dropped decades ago is the u.s. making amends for the tragedy and. help to the people needed in that little.

mosque on lambaste berlin for failing to provide any evidence for germany's claim that russian opposition figure have an accent on the poison where they come a cold nerve agent. if there was any data we would work with them there is no data there are only statements amounting to megaphone diplomacy and. also this hour the u.s. says it won't take part in an international cooperate of effort to develop a covert vaccine because it's led by the world health organization. and washington has imposed sanctions on senior officials of the international criminal court after it started probing alleged u.s. war crimes.