respects. his i cannot the smug that he'll be a losing show one by elsa store on the by doing. so they decided to leave everything behind and start a new life in a country about which they knew almost nothing at all some of the earth career crews who are a little too thrilled if you're in the united. around great crowd. lulay a dwarf you know prone to cold flu. and now almost a 100 years later history is repeating itself my great grandfather george time went through russia. probably the worst time to go anywhere why not me. when i come here. a sort of amazing country with liver so many friends in russia and i'm very excited

to be here. i love that idea i think i can do that. every night i make a lot of money with them but they make millions and hundreds of me. and. here's a nice well there's a nice a great wall and nobody feels a lot better than me believe me and i'll build a very inexpensive like a great great wall. and just in case you're worried about who's going to pay for it mexico will pay for . it we'll see what happens who knows i always say who knows.

we'll see i'm still researching. this is boom bust the one business show you can't afford to miss or in washington coming up markets in the united states and around the world continue to slump as a global coven 1000 cases are surging straight ahead as we bring you up to speed on the scary week for equities and where we stand with the global cases and this comes as the eurozone has reported a bump in economic activity but the spike in cases could threaten that growth later on we dig into the numbers and what toll new lock downs could have with a packed show today so let's dive right in. and we leave the program with global markets as concern over the latest wave of covert 19 related lock downs in europe

and the upcoming presidential election in the united states are creating an uptick in volatility this week selloff was one of the worst since march when coronavirus spears said in throughout the globe so let's go ahead and take a look and see where markets ended up on the week starting in russia mo x. is down for the week the index reported 3rd quarter results with record fee income from the money market and depository and settlements services the f. and c. income came in at an all time high for the 3rd quarter in a row but the global selloff still took a toll on the market moving to asia the shanghai composite is in the red for the week mostly dragged down after apple suppliers in asia fell on friday with that a nearly 1.5 percent decline food and beverage firms followed slower profit growth in the 3rd quarter and the blue chips c.s.i. $300.00 index and did 1.6 percent lower in hong kong the hung sank it is also in the red this week reaching its lowest. level since october 20th following u.s.

equities now one positive h.s.b.c. shares soared nearly 5 percent earlier this week as it reported a higher than expected 3rd quarter pretax profit in japan the nikkei it's also in the red posting its biggest weekly loss in 3 months mixed earnings rising coronavirus cases and uncertainty over the u.s. presidential election weighed heavily on sentiment moving to india the sensex it's also down this week the index was dragged by losses in banks fast moving consumer goods and autos amid the selloff in global markets the nifty was also lower due to falling bank and financial stocks in australia it's following similar trends in the red with its worst week since april wiping out those early october gains on the other hand am shares soared nearly 20 percent after the firm announced friday it received a conditional takeover offer from areas management in south africa we see another red arrow for the all share on that global sell off miners and banks really drag

down this index now we're going to move to europe and the americas were basically seeing the same trends you're not going to see a green arrow this week in london the footsie it plummeted this week to its lowest level since april this despite the euro zone beating expectations for its 3rd quarter g.d.p. expansion to 12.7 percent something we're going to discuss later in the program european leaders kind of play one month lockdowns on rising coppa 19 numbers so that's something we're going to keep an eye on as well the german dax and the french both finished in the red the european central bank hinted that further stimulus while leaving rates unchanged even on that positive g.d.p. data the indices remained flat as investors are the presidential election here in the united states and brazil the best but it's also in the red this week down more than 5 percent 5 percent to excuse me concerns over the global coronavirus numbers remain high the biggest losers this week and all. a year have been airlines and

tourism sectors in brazil in mexico the b.m.v. following same trends it is in the red this week despite 3rd quarter results that showed a 12 percent g.d.p. increase over 1000 lockdowns in europe and that presidential election there just weighing down sentiment pretty much worldwide moving here to the united states all 3 major indices the dow the s. and p. and the nasdaq they are down this week the dow had one of its worst week since march on a sharp twitter and apple shares sell off at the end of the week despite better than expected 3rd quarter g.d.p. results investors are concerned about record spikes in covert 1000 cases as were just days from those presidential elections finally in canada the t.s.a. it is also down despite some gains on thursday's futures slid on friday ahead of worse than expected economic growth materials energy technology and financials all led the losses in canada and as we track those record numbers of new coping 1000 cases and the presidential election early next week we will be following global

market reaction and that is your global market walk. and for more on this terrible week in equities let's bring in boom bust co-host christine break it all down christi now we had a pretty decent tech earnings wednesday but that failed thursday for that matter but that failed to impress the market as all of them are trading lower friday what's going on kristie. so we have remarked on this yesterday saying that the market is showing some signs of fatigue here that it has good earnings but they aren't getting bought and so getting sold so it's all this kind of last quarter to indicate that there is a lack of appetite in the market and a lack of confidence in this rally so we had shares of twitter facebook amazon and apple are trading lower friday despite some decent news apple shares are getting punished despite beating wall street expectations as a didn't offer any 14 guidance i reported a 20 percent year over year decline in i phone sales amazon on the other hand they tried to use a message with some sort of guidance for the 4th quarter which is basically better

than nothing i guess so it went wide giving a range between $112000000000.00 to $121000000000.00 for sales but analysts aren't buying that trick as that's also getting sold so guidance and forecast are main challenges for management not wanting to sound too downbeat facebook also had about 2 percent as that warned of a tougher 2021 and alphabet that remained the only only bright spot but that pop is getting faded quickly too and now 84 percent of the s. and p. $500.00 companies they've been estimates for earnings now overall profit is expected to tumble about 13.4 percent from a year ago so short term risk appetite that firmly in the negative territory now you know kristie amid this week that is the worst since the march selloff the vix fear gauge is actually spiking again friday not near where we were nearly as high as we were back in march what does this tell us about miniature market sentiment. so it's getting really close to a critical level now so today is only true under the 3rd time that the vix has

closed over 40 since the index launched back in $1090.00 so it starts getting really dicey is at the $44.00 mark which is 3 standard deviations away from the a we're getting really close to it now so we always say that ask president does not indicate future performance we can however take it take away from the past so history has shown the. 94 percent of the our nations act in 1990 when the vix closed above 44 that just occurred 2 times in history in the 200-2009 the 2020 period so when the vix 1st close over 404044 back in 2008 that resulted in a drawdown in the s. and p. that didn't recover for about 18 months and so now we're potentially looking at the same set up of the us elections next week so there's a real lack of clarity about how this we'll economy is doing especially if the outlook is changing by the day we have more potential lock downs coming little to no growth in g.d.p. for 4 q and not much in terms of labor market recovery either so while more fiscal

stimulus will surely come and we will see the market rally off again for now in the near term at least the vix is signaling for some massive uncertainty and volatility there kristie i mean does this continue into next week as we look at that presidential election do we see that selloff continue monday and tuesday while we await the vote and then maybe miraculously everything calms down on wednesday or does it could be or do we just everything kind of goes back to normal on monday. well according to vick's annexe right now we are looking at more volatility is going into the elections and potentially even after because there are a lot of analysts estimates are predicting that this is going to be a prolonged election that this is not going to be a cut and dry zing that ends on november 3rd and then the market sets according to whatever results we get there it's going to be a period of ambiguity and uncertainty because there is a very high probability of a problem for attracted election now kristie there was

a halt in the algos briefly in the sell off however things kind of picked up at the end of the day losing another $150.00 points at the end of trading on friday what triggered that halting the sell off. so by now we know that the algos basically drive the market one way or the other so just after around 11 o'clock this morning as stocks were at their morning session lows the fed stepped out to stop the rot announcing that the fed would further use some terms and its mainstream lending program targeting smaller businesses so this stem the bleeding somewhat at the very least stop the dumping this morning the fed's announcement today now is just the terms of mainstream lending in 2 important ways to better support small businesses so 1st the minimum moen sizes for borrowers that has been reduced from 252-500-0210 extension 0000 the fees have been adjusted to encourage the provisions of the smaller lots and secondly the board to parma the treasury there clarifying that the paycheck protection program loans up to 2000000 may be excluded from burra

debt if certain terms and requirements are met so that should also help smaller businesses access main street loans as we're getting into 4 q. as we're getting are seeing these spikes in coronaviruses again so we've seen that's ackerley this year as these new press releases they work to act as a temporary band-aid to stem the market bleeding and basically buy some more time until a substantial package gets done so we will see that happen as we bounce off the session lows as the news that got digest among the traders. they all realize that this is kind of a nothing burger nothing really game changing so that got quickly sold off as we got to market close you know kristie despite the sell off in equities like it's in for the worst week since march because it's actually still hiding it's holding pretty steady there's a tire week above $10000.00 a how is that looking right now. quite as increasingly starting to look like a safety asset and a safe haven as we've been saying it's getting more and more support from

institutional and mainstream users so we talk about pay pal's foray into big point initially that drove this rally but i think the proof is here as we had a very very nasty week in equities land but everything was quite stable and crypto correlation is completely broken at this point so now more and more public companies will be turning a big point as an inflation hedge as many already have so following the $425000000.00 or just buy micro strategy as its treasury observe asset its c.e.o. michael saylor revealed that he personally owns about another $240000000.00. and shares the best part actually and analysts recently pointed out that micro strategy has earned $78000000.00 in the last 3.5 years from their business operations but micro study just earned about 100000000 basically the last 2 months i'm just there between purchases a lot so think about that as bitcoin gets increasingly accepted as a store of value it's going to outpace even gold boom bust co-host christiane we

saw our perk up when we saw how much money could be made with bitcoin thank you so much for that insight today. thank you. global call the 19 cases had a huge single day milestone this week reaching half a 1000000 for the 1st time on wednesday daily cases of the virus have risen nearly 25 percent in less than 2 weeks as europe and the americas continue to see this spike so with this in mind let's go ahead and take another look at the trends in the spread of the virus globally with our chief correspondent science habit or so i will always try to sort of read the global coronavirus hoyle right now it stands at over 45000000 cases and about 1190000 deaths now are europe north america and latin america are account for about a 66 percent of global cases and over 76 percent of global best now the u.s. they they lead the world and number of cases and as we nearly 234000 deaths

combined now the u.s. has also said yet another pandemic record with more than 90000 cases in a single day on thursday now in fact as quoted i think cases of actually been increasing across the country as the fasces rate since the start of the pandemic bread now take a look at this map right here right now every single state here every single state in the united stats states except how why has recorded higher cases compared to 7 days ago while 35 other states they've just recorded a record number of new cases in a single day and now here's and now they're finding numbers while the world health organization w.h.o. they advise governments to maintain positivity rate or at 5 percent or lower some states like south dakota they have 849 percent positivity rate meaning one out of 2 people who get tested in that state are coming back with

a positive test result now that they're also up 16 percent compared to last. this week and some of the numbers are just really shocking right now wyoming has a 650 percent spike in coping 1000 deaths think about it 650 percent up new mexico up 78 percent south dakota they're up 75 percent now taking a look globally what's happening right now here are some of the latest data now india is right now the 2nd worst affected country and they're reporting about 50000 cases a day now looks like it's going down a little bit but that's just not enough because again they're reporting over 50000 cases a day but still the good news is their desk rate is still remain some of the lowest specially given their very large population now brazil on the other hand they have the 2nd deadliest outbreak is a virus after the u.s.

and has reported more than 159000 as now they also have the 3rd highest number of infection as 5500000 next to the u.s. and india and meanwhile on thursday brazilian president abbas and narrow it was been a longtime critic of a nationwide lockdown has said that it was crazy for countries like france and germany to start locking down again to control the virus now russia at the moment has the world's 4th highest number of cases after the us india and brazil now they have recorded about 27000 cases on thursday while authorities have now made face max mandatory in all places and russia now meanwhile russia continues testing their corn a virus vaccine known as wouldn't agree and russian president vladimir putin announced on thursday that russia was facing challenges increasing their production do a problems with a quid then a bell ability but

a hope to start mass vaccinations by the end of this year now lastly in the middle east iran is the most fact. it covered 19 contrie and there were porting one death every 3 minutes so lots going on there brant r t correspondent sites have enjoyed thank you for keeping us up to date. and time now for a quick break but hang here because when we return the euro zone has seen a major rebound in q 3 but is it enough to weather the new spike in co but 19 cases in the region straight ahead we've filed through the numbers and what fame need to hold one of the world's hardest hit areas as we go to break here are the numbers at the close. communication branch of the human communication does a lot to thing better than we do so the possibility of just being restricted with

brines we go with a fine art no group growing some even to even just combining true human brands to go. to a movie has a lot of the advantages of. an entire village in alaska. if another country threaten the wife of an american. we do everything in our power to protect. wanted a escaping climate change this is the same threat right now alaska seems some of the fuss just coastal erosion in the world we lost about 30 feet. 35 feet of ground in just about 3 months while we were measuring. is fast paced the river is 30 closers how long. was 4 i think were part of the earth from across.

what a wonderful trip this is ben coin a dollar 2011 breaking story for we told you divide it was going to compete with gold to take over the world it was in fact perfect money and still is and will forever more be. welcome back some good no economic news for european nations is g.d.p. for the eurozone it surged nearly 13 percent quarter for quarter this comes largely from european nations which saw the largest lockdowns in europe over the summer joining us now to break it all sounded school bus co-host ben's one ben thanks for

following this story are these numbers surprising considering how much the euro zone dropped in the 2nd quarter of this year yeah i don't think they're that surprising i mean if you consider exactly what you just said in the 2nd quarter we're talking about being down 11.8 percent for most of the eurozone in the 2nd quarter so to see it come back in the 3rd quarter is not really very surprising as you just said about 13 percent is what it went up now analysts had predicted it would only come back about 9 percent so it's positive in that respect it's interesting though the countries this is happening in primarily france italy and spain all registered quarterly growth between 16 and 18 percent respectively for those 3 countries so that's pretty significant and that's where a lot of that growth came from and outside into consideration fears of a 2nd wave bearer ports that the e.c.p.a. could go all in for a new stimulus package come december what do we know about that yeah that's that's kind of an interesting idea here so you know the last kind of p p p that's what

they call their stimulus program in the eurozone they came out it did last until the end of their expression will last until the end of june of 2012. 1 it totals about $1.00 trillion euros that's about $1510000000.00 right they've already passed the expectation is that stimulus will be around but if there is a 2nd wave of coronavirus and a 2nd wave of lockdowns across europe then the e.c.b. expects that it will probably push for even more stimulus because the big question here remember brant a few months ago now when we were covering the fight in europe over the stimulus packages right you had countries like germany and france that were demanding them and then you had these countries in the northern part of europe that were resistant to what they were called the frugal 4 and then called the frugal 5 and it was sweden and norway and denmark those countries did not want to see stimulus the 1st time around they were very very hesitant to do it the idea of getting a 2nd round of stimulus at this size passed i think would be pretty difficult it would at least make for

a pretty long fight. there's further economic pain on the horizon here for european countries as france and germany and now it's new nationwide lockdowns and other governments are considering to do the same so what we put the good news off the top that there was economic expansion we talk about the exact same thing thursday in the united states we saw economic expansion after huge contraction with this translate into bad economic news say around january when we see those q 4 numbers well that's what it really comes down to it really comes down to what happens over the next 60 days 90 days because if there is a 2nd wave germany and france as you said the 2 really 2 of the biggest economies in all of europe are now instituting new lockdown measures it's not just a if it is a now happening scenario in those countries and we're talking about you know is shutting down businesses once again closing down restaurants you have businesses that have already failed you have some that barely hung on to that expected failed this time around the other thing that's pretty interesting here is that these these

increased lockdowns are coming at a time after a statement by the w.h.o. the world health organization that essentially says. is that in the event that we've already seen those lock outs take place as we begin to look at the aftermath of them the w.h.o. says well that those lockdowns globally may have doubled global poverty that's a huge deal that's a very important deal so when these countries like germany or france are now saying we're going to reinstitute lockdowns you have to look at the economic cost that goes with that because it's not just we see economic cost it's not just about dollars and cents of but it's about people's livelihoods it's about the ability of people to be able to take care of their families and this is a global problem so it'll be interesting to see whether or not germany and france get much pushback germany has already had a lot of protests about their lock down so far it what are leaders saying in european countries about these new lock downs that are being instituted and their effect on the economy are we hearing anything from them well i think right now what they're saying is it's a necessary precaution again to protect the public but who is protecting the public

from the lockdowns i guess that becomes a serious question here right i'm not money even saying that in any kind of loose way i think that's a very legitimate question here you know trump likes to say the solution can't be worse than the problem but let's talk about that in terms of economic terms there is a reality here that the lockdowns that we've seen what we've seen in terms of the loss of jobs of businesses the ruin of economy and as the w.h.o. said the doubling of global poverty is that a result of coronavirus or is that the result of government rules and regulations associated with the coronavirus if it didn't work over the last few months and we're still seeing 2nd waves you have to rethink some of these strategies and the long term effect that they will have on people living again in europe in the united states in australia in new zealand we're seeing that a lot of places and we have to look at what is the ultimate cost of these decisions and when we look at the economic expansion obviously like you said if we're looking

at lockdowns there's a likelihood that we're going to see economic contraction in the next quarter or so are we going to see. more of a w. shaped recovery than we are that veer you that they may have been talking about before world wide yeah i think i think we certainly might have been it really comes down to what are the steps that are taken over the next few months as i said we may absolutely see a deadly shaped recovery looks like it's coming back then as it drops again and then the other question becomes this how long does this go on does it last all the way through the winter are we talking about going into the spring and then do we start to see a recovery only to have it come back again in the fall of next year does this become a similar permanent status for world economies to shut down reopen shut down because as you know brant there's no real talk here of coronavirus going away it's almost being treated as if it's going to become like the seasonal flu where every season we have to deal with it and that is the case how do world economy survive that at

all that's a major question that's looming well and with all the discussion about proliferation of a vaccine they're going to be keeping an eye on that to maybe eradicated or at least slow a heavily boom bust co-host ben swan thanks for breaking it all down for us thanks brian. and finally while video streaming services like netflix and hulu thrived at the start of the pandemic music streaming platform suffered people were forced to work from home and no longer needed tunes to get them through their morning commutes but things are starting to look up as spotify announced it added more subscribers than expected in the 3rd quarter of this year starting passed $300000000.00 total users worldwide double that of its top rival apple music in fact the music streaming giant said thursday all of its regions had fully recovered from the pandemic paint much of this is due to the company's expansion in india and russia which they say was very successful spotify added that global listening hours had eclipse prepaying demick levels with users once again tuning in to music and

listening to more pod casts and that's it for this time you can catch a boom bust on the man in the brand new portable t.v. af which is available august. mark bowden tablets through a play and the apple app store by searching portable t.v. for the t.v. can also be downloaded on a newer model them some smart t.v.'s as well as roku devices or simply check it out at portable dot t.v. we'll see you next time. in the 1920 s. and thirty's several 100 african-americans moved to the soviet union and many of their descendants still live in russia. again at the most because they know no rush but i thought up most of us it. was one thing so your bios at the chair. back home black american suffered from racism and a complete lack of prospects. not the smug the real.

one by elsa store on her by doing. so they decided to leave everything behind and start a new life in a country about which they knew almost nothing at all some of the american rear troops who were to korea during the night. found great crowds. to move toward few you're going to call. you and now almost a 100 years later history is repeating itself my great grandfather george time went to russia. probably the worst time to go anywhere why not me. when i come here. even after russia gate was debunked as a hoax this conspiracy theory lives on in fact it appears to become part of parcel of our political discourse if you oppose someone or an idea all you have to do is

play in russia no facts necessary slurs in fact was claims now suffice. a grim warning it to the people of france the interior minister tells the country to brace for more attacks after a knife rampages through a basilica in brutally murdering 3 people. fronts as it was clear war with an enemy from within and from without us we are not suitable with any religion. with islamist ideology. protests gripped the muslim world over the french a president's defense of the right to parody religion and his previous remarks on islam as a. prophet muhammad under the pretext of democracy does not consider democracy.