i miss is boom, bust the one business show you can't afford to miss for in washington, coming up over 9000 cases have surpassed yet another record in the united states. as the globe faces the most recent wave of infection. straight ahead, we're going to take a look at the state of the pandemic amid the new outbreak. in the united kingdom's g.d.p. has rallied after taking a hit due to the pandemic, but the nation's economy remains below pre-code levels. we're going to dig into the numbers plus of later on hong kong and china may face even more u.s. sanctions that several lawmakers in the ministry of region have resigned their position with attack show today. let's dive right in. and we leave the program with another record for new coping 1000 cases in the united states as the nation struggles to contain the spread of the virus. now the u.s.

reported more than 140000 new cases of the coronavirus on wednesday. the 9th, straight day were cases eclipsed. 100000, amid the latest wave in the country, many states are seeing record increases of their own. now as we mentioned on wednesday's program, this latest surge is putting a strain on hospitals as of wednesday. more than 12500. patients are in intensive care unit, the highest number since early may health experts believe the reason for these recent spikes include pandemic fatigue, where people are frankly tired of it hearing to social distancing protocols and inconsistent messaging from federal, state, and local officials. so with all of this in mind, let's go ahead and take another look at the trends and spread of the virus globally with our t. correspondent saya tavern, where we thursday brand worldwide cases are just surging right now. the global total has climbed to almost over now i should say 52000000 deaths over why point,

287000000 that the u.s., of course, has a way surprised and 1000000 and almost hitting 245000 deaths and for a 2nd day in a row. we are again seeing a record high like you mentioned wednesday, we saw a 142860 cases, 69 percent compared to 2 weeks ago. and deaths, of course, are once again up to 36 percent up, in fact, compared to last week, while patients currently being hospitalized there also 37 percent compared to last week. you know, i want to mention that hospitalizations, there are key metric of how the pandemic is actually progressing because unlike case counts, they are not, not influenced by the number of tests performed so that something very important to constantly follow. and here are some of the latest developments coming out of the u.s. that i also want to go over. now several states including utah kentuckian and new

mexico, they all reported record daily new cases while the midwest right now remains the hardest hit region. iowa. being the worst affected state followed by minnesota, michigan and illinois. now illinois also emerged as the pandemics, new epic center. and in the past 2 weeks, they have actually, that state has reported about 130000 cases. now that's highest in the country and more than hearted texas. and california now, meanwhile, new york governor andrew cuomo has imposed a new round of restrictions as their infection rates are also also once again climbing says you see, we're definitely not headed in the right direction. cases overseeing is everything is just going up. and what are we seeing throughout the rest of the world? so while of course, the u.s. keeps hitting new records day after day right here, which shows right there in the green rear surpassing india, france, russia,

and brazil. so here are the top 5 countries with the most daily cases. now, france is now the worst affected country in europe, and they have over take in russia. now france, there are a t, n, a 2 weeks into their lockdown, i should say, into their new lockdown. and now they're planning to impose more restrictions. if this situation doesn't get any better. now if you take a look at it in india while 2 months ago, you know, they looked like it coronavirus disasters zone, but there are cases they have gone up. they've gone down, i should say from $100000.00 per day to now almost half of that to about 45255000 cases a day. so that's very good for india. but the problem is that health experts are fearing that a 2nd wave could hit the country because people are once again putting down their guards and not really social distancing or any, and or doing any kind of face covering this in that country. now, meanwhile,

in brazil, cases are once again spiking and the country's north, they're seeing the most of their cases while local governments are facing even more political pressure to lift restrictions. so obviously they're not going in the right direction. meanwhile, in russia, trying to avoid a full lockdown their way out of this crisis that might just be their vaccine that they're currently working on in the final phases of their trials would be. so of course, we'll be following this to constantly give our viewers, the latest brant are. 2 correspondents. thank you for keeping us up to date. and as the world is dealing with this latest wave of the paradigm and through some positive economic news on the horizon, the u.k. economy grew by 15.5 percent in the 3rd quarter of this year to our according to data report by the government thursday, the economic expansion in great britain comes following an unprecedented 128 percent contraction in the 2nd quarter of this year as the country faced a nationwide lockdowns that just ravaged the economy. now while this was the

largest quarterly expansion since records began in 1955, g.d.p. in the u.k. is still 9.7 percent below where it was at the end of 2019 for those are pretty covert levels there. when looking at the numbers, month to month, growth slowed having expanded more than 6 percent in july, down to 2.2 percent in august, and falling even further to 1 point one percent in september. and the recovery is expect to lose even more momentum as the country has entered a month, long partial lockdown that will last until the 2nd of december. so for more on all of this and other economic news of the day, let's go ahead and bring in boom, bust co-host, christy i and jeffrey tucker, the editorial director with the american institute for economic research and author of the book, liberty or lockdown. thank you both for joining us today. chrystia, i want to start with you here over in the u.k. . they've reported that the economy grew slower than expected 1 point one percent in september from august as we just mentioned, lagging other,

developed nations as it struggled to contain co. but now it has suffered the biggest g.d.p. drop among major economies listed by the office for national statistics. why are we seeing that and what's going on over there? well ran a lot of things actually contributed to this g.d.p. drop or one of the main anthrax where the guy had prince initial iraq counteracted way longer than an up and absolutely hammered disturbances in the streets, which makes the economy so and look like regular coverage brains work takes far longer than what many people think. so while the situation is improving a little bit, the case and the momentum of the recovery is now slowing down. and this is all, i have the fact that the entire economy is being caught up by more than 200000000000 pounds of emergency spending and tax cuts ordered by the finance minister sanat and the bank of england's almost $900000000000.00 pound farm micro. so right now, just to put things in perspective, g.d.p., is still remains almost 10 percent smaller than that b. and $29.00 t.,

which is why i wouldn't be as it only germany, france, and nearly 3 times the size of the us and strong. so they are the ones who actually suffered a very have to learn. so now at this news of this new vaccine, it could potentially help to measure some of the uncertainty. but things are still going to continue to be very difficult for individuals. you know, jeffrey, i want to kind of move over the u.s. here because despite the record number of rising crowed a virus cases, we had some better than expected unemployment data. here in the united states, economists are now seeing a stronger recovery than they had predicted. do you think this is optimistic in that these numbers are lagging the current situation? are we going to see a double dip of this economic downturn from the virus? i think it's actually likely. and in fact, it would be almost impossible for the not to be some good economics. it is common amity that we've experienced this year. and the fact that the fed is just throwing money around like crazy trillions make by congress so much talk of more stimulus.

and so the financial markets are responding in terms of the unemployment. you know, it's really an, even a depends on what sector it is. and if you look at, you know, hospitality and entertainment and especially professional women's employment, women, children, they'd left the workforce by millions. in fact, we are experiencing a lower rate of employment by women with children right now than we had even in 1988. so we've basically lost, you know, 32 years of progress in terms of women's professional employment in this country, all due to these knock downs, which nobody has yet shown in the relationship between lockdowns and, and the mitigation of this virus. so it's very possible, and i think it's very likely that we in this year looking back wondering, why did we destroy the strongest economy in the world for no apparent reason just

out of pure political panic. and that's what's going on. so yet another recession, another dept. i think it's very likely we've only begun to see the carnage, i'm sorry to say, and it's going to emerge in the 1st and 2nd quarters of next year. christie said that we've been talking about a lot over the last several weeks of markets and they're pulling back worldwide from these recent rally. this comes as more we've talked about throughout the show . more crowbars, cases are reported raising concerns over the health of the economy and of the year . and what happened in the stimulus package that the market was promised. is that gone for right now? well apparently for now, it's not materializing any time soon because remember, before the elections, trump came out and said that stimulus talks were going to be pushed back until after the elections or the market didn't like that. except it was hoped that after the election that something would get done. we know that one big overhang has finally been lifted. so instead, the market got this organic inflation straight instead of a surprise to us from our unexpected,

but still pretty good news for the vaccine. and backing us up, we had a rally, but still the baby sister still remaining in the market. what about this big fast unless i catch that was promised? so today comes out as a big disappointment as the white house's drive for this mega stimulus has basically evaporated. but bloomberg reporting that the company ministration is now stepping back from stimulus talks. so previously again, ministration acted as a reason for congressional republicans and democrats. so now the focus will primarily be on the interactions between so without the white house's support and listen to the school greatly diminishes the chance of a trillion dollar or more stimulus for the u.s. economy. that's for january. as they say, the market has pricing in the right square. so we see a lot of the euphoria already started in the markets today. as news, the vaccine is getting digested and people realize that this is going to take a lot longer than expected to execute. and distribute, it's not just going to fix everything overnight. and i think that was the concern of a lot of political onlookers prior to the election. they were concerned that if trump

were to lose, as it appears, he has obviously waiting for everything to be finalized. but they were concerned that a lame duck president trump was not going to be that interested in another stimulus package. and from what you're saying, that might be the case right now jeffrey, i want you to a little bit of fun here. i don't know if this is fun, but the big coin rally actually is continuing, as it breaks above 16000 for the 1st time since january of 2018. what do you make of this, and are we are, are we heading towards another run towards $20000.00? well, you know, the big connections of it kind of a dangerous, but i'm going it's going to be the end of the x. . we're going to reset 20 k. and then the question will be, will the big collapse happened at that point? and january as it happened, 3 years ago or, and actually has happened in 2013. you see this kind of seasonality to bit claim. it's a little bit of a psychological season, alex, or will we push all the way of city 30 k.

by the, by the summer and then drop back down to about my guess is about 17 months. but regardless, you know, we, you know, that a big fall and the press because as it's coming and on that day the nation's newspapers will be filled with a nonsense of the collapse of disaster and claim that because it's fallen apart again. so just compared itself. we're going to go there. we've gone through for the last 10 years. people never learn because it is duke and are going to rally. and the reasons i think are pretty clear. you know, we are through 33 years of stock up and down or it's circling around 10 to 10 k. . there's a lot of exhaustion. people wondering what's next in the markets. finally, those days ended and we've, we've, i think we've seen what a 50 percent rally in the last 3 and a half, 4 weeks. that it's been astonishing. and the whole sector is waking up and seeing the newly confident about it as future. there was no lock down a bit quiet and that's, that's a great sign. and we know that your friend,

jeffrey peter schiff, will be following along with those headlines re tweeting them have only if that fall happened happened. they would have one last point before we go. there's one person who's actually not so bullish besides our friend, peter schiff, about the big quarter out. and that's coming from ray dalio, the hedge fund legend, who warns that big point prices are priced going higher, will only force governments to take action against the most high profile cryptocurrency, what you say to that, or i mean, at its core point, is a peer to peer software protocol, so governments can try to move towards fixing the use of cryptic currency. i mean, we are just in the u.s. do not u.s. citizens can no longer access crying at that annex that next. how many other polonia track these are exchanges that can no longer do business in the u.s. . it's become restricted and i'm practical for the business. so be seen as such as opportunist, widespread major. so the u.s. government can do what it wants, but at the end of the day it just pushes the technology and new advances further off it shores to somewhere that's more open and friendly are. so this is the global,,

her and c. and the only one of its kind accepted everywhere. so nation states will be able to sleep and something that is just completely global and can easily be secured by individuals. so in a matter of fact, an outright ban will not be in the best interest of any. and in recent years, more billionaires have started showing support for frequent institutional money. but there's a lot more to ask that finally realizing its properties that make it very crackle sankey, the casket, and a hedge against inflation and the whole demesne confiscate it will store of value. so as far a dowry, well, i mean, i can't imagine his investors being happy repair requirements that in the midst bridgwater care, our climate is down 8 percent year to date. while the basic wind is now up 115 percent. well, we could have talked about this for so long, but unfortunately we're out of time, boom, bust co-host christine and jeffrey tucker of the american institute for economic research. thank you both for your expert analysis today. it's time now for

a quick break, but hang here because when we return, the u.s. has set its sights on fresh sanctions against china and hong kong following the mass resignation of lawmakers in a special administrative region. on the other side, we're going to bring you the latest developments and the effect on trans-pacific relations. that's going to break here. the numbers of the close in germany, babies saying french babies who say that is so that was the rhythmic pattern. so you know, so where did they get that? it turns out she looked into it 1st, what was happening was that the babies could actually hear their mothers speech in the new gold rush is

underway. in guyana, sounds of ill equipped workers are flocking to the gold fields, hoping to strike it rich. as children, a tool in between gold. my family was very poor. i thought i was doing my best to get back to school, which side will have the strongest appeal media, a reflection of reality. in a world transformed what will make you feel safe? isolation, unit chief. are you going the right way or are you being that direct? what is true? what is faith?

in the world corrupted, you need to descend to join us on the death or inmate in the shallows. welcome back. it was an unprecedented day for hong kong as a group of opposition. lawmakers have handed in their resignations in mass, pushing back against the hong kong government's decision to ban 4 other pro-democracy lawmakers now on wednesday, but beijing's top law making body the standing committee of the national people's congress or n p. c. c empowered the hong kong government to bypass the local

judiciary in order to ban anyone makers deemed, quote, unpatriotic, or considered to be conducting themselves in a manner that endangers national security. so it can go as public officials of the hong kong essay are members of the legislative council, must of course, sincerely uphold the basic law of the hong kong as they are of the people's republic of china and pledge allegiance to the hong kong s. . they are of the people's republic of china, and no country will turn a blind eye to the acts of betrayal of the country by public officials, including members of the legislative council who break their oaths of office. today is the last day for us pro-democracy legislators in the legislative council. last night. we are now is that we will all resign together today. we are all coming separately to hand in our resignation, letters before the end of the day. so from now on, you will see that hong kong's legislative council will have completely new style.

pro-democracy law makers will not be in the council to carry out our duty of monitoring the government or things like that. this is a result of what the hong kong government and the central government have done to destroy our constitutional order. and joining us now to discuss is boom bust co-host investigative journalist, ben swat. now ben, it seems like hong kong was the biggest story in the world about 12 months ago, and then completely overshadowed. once the pandemic happened. can you begin by giving us some background on why these lawmakers ended up resigning? yes, initially i think you laid it out pretty well there, but essentially it all goes back to a couple of months ago, which we have these 15 lawmakers who announced that they were going to resign in mass. and it was over this new law that was essentially put in place beijing, as you said, their top law making body, the standing committee on the national people's congress, the n.p.c.s. . e, essentially put together this, this rule that empowered the hong kong government to bypass the local judiciary in order to remove any elected officials who they deemed to be unpatriotic. well,

we know what that means, unpatriotic means that you don't toe the line of beijing, and instead you are pro democracy for hong kong. remember hong kong at one time, it was a ton of us. it's supposed to be this, you know, 2 state for lack of a better term solution where, where hong kong retains and autonomy its position. even though it's gone back to china, the chinese government beijing does not like that idea. so what happened was kerry lamb, who's the head of the government there in hong kong, essentially moved into strike 4 members of that pro-democracy group from being able to run for seats again. they've already previously previously been blocked. so he moved to block them again. and when that happened, these other 15 lawmakers decided to stand in solidarity with the 4 who were blocked and resigned their seats. and when we look at politics, it's all about political power in this mess. exodus of these low makers actually leave the 70 seat legislator entirely to beijing friendly lawmakers if you will, without any meaningful opposition voice. does this move actually become almost

counterintuitive to pro-democracy beliefs? as some would say they're taking their ball and going home because they were unable to because of this move. well, i think whether the way they see it is, is it's not so much taking the ball and going home as it is someone else took the ball away and said, keep playing the game right. we'll make up the rules as we go. and so i think the reason these lawmakers stepped down was because you really have one of 2 ways of handling handling this. and they're both political moves, right. one political move is you either just kind of go along with this and fight back as best you can. but if that happens, you have this slow creep where now you know, for a block now another 10 or block or another 5 or block until eventually you get rid of all of these pro-democracy lawmakers, but by stepping down in mass number one, you draw international attention to what's going on, and you also make the case that, hey, this is being done and it's the wrong thing. and therefore, yes, beijing, if you want to take by force, the law making ability and legislative authority of hong kong. if you want to take

that by force, then take it, it's yours, but we're not going to do is pretend there's legitimacy to this issue and pretend that we're acting unpatriotic lee and against the best interest of the nation by playing the game that way that you're setting it up, and here in the states of we, we tend to always, or at least the media here tend to always look at what can the u.s. do to fight this. a lot of talk has been made about more sanctions against hong kong and china in the wake of what happened. what is the likelihood of this at this point? well, it's happening already. i mean there's already 3 new individuals who have been added to the u.s. sanctions list. again, these are individuals who work in the hong kong government who were seen as being responsible for carrying a lot of this out. it is, and you and i have talked about this a lot, the issue of sanctions is always number one that the u.s. believes that it is the final authority to impose sanctions or to control the outcome here. listen, do i think that the pro-democracy legislators and the people of hong kong should

have a voice? absolutely. and do they need to be able to fight back? yes, absolutely. they need to push back as much as possible, if they believe there is a different path for their country. that doesn't mean though, that the answer is then for the u.s. to impose itself and decide that it becomes the referee in this and in any other situation around the world that becomes a domestic situation. so again, the u.s. is impose themselves marco rubio got of the people who always reach out on these things. really says statement saying there will be consequences for beijing and consequences for the local government of hong kong for having done this. and as i mentioned, some sanctions are already underway. and as we've talked about, as you mentioned many times on the show, sanctions just end up hurting the people who are actually fighting for democracy in hong kong. if that's the way you see it, unfortunately, it usually doesn't affect the people at the top of the food chain and i have about 15 seconds left, ben, but will a biden ministration handle this any differently than the trumpet ministration did? i'm not sure. on this case that they will. i mean,

i think one thing that we saw over the last year was that both republicans and democrats were pretty much in lockstep being for the hong kong protesters. i think we would still see that again, boom, bust co-host and investigative journalist, ben swan, thanks so much for breaking it all down for us. and finally, german carmaker b.m.w. on wednesday unveiled a brand new electric sport utility vehicle called the b.m.w. . i x that it hopes will actually compete with evie juggernaut tesla. now the sleek i.x. which will be released in the u.s. in earth 2022 will have a driving range of about 300 miles coming up 70 miles short of the tesla model. x. long range, but b.m.w. actually says that 10 minutes of a fast charge. well, that's going to give you those additional 75 miles. as with many new luxury s.u.v.s, it also will feature a curved screen across the dashboard to control all that technological goodness in the vehicle. now also on wednesday, the company unveiled a concept electric scooter as well. however, b.m.w.

has yet to release an e specifications for the product or when it may be released, but the photos show an eye catching design that looks like something straight out of a science fiction movie. and that's it for this time you can catch boom bust on demand on the brand new portable t.v. app, which is available on smartphones or tablets through google play. and the apple app, store by searching portable t.v. portable t.v. can also be downloaded on a newer model. samsung smart t.v.'s, as well as roku devices or simply check it out portable t.v. . we'll see you next time. what does the election is all to date? tell us about the state of american politics. there was no blue wave. instead,

there was a red ripple instead of calls for reconciliation. there are those looking to punish trump supporters. one step forward 2 steps back. this is a story of women. and women was troubled histories and complex court cases. you know, some really leave out there who were not the person that the cheesiness of the day are considered the most dangerous of criminals. she's in a still all they offer 23 hours of the day. tell me that it's not enough punishment of women on death row seemed wrong. but just don't call me old yet to

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the 21st century of mental illness. those aren't my words. that's what surfaced some psychiatry to tell us. the only question is, should we accept it as a fact? yes or no. during the vietnam war, u.s. forces also bombs in neighboring laos. it was a secret war. and for years the american people did not know how much it is officially the most heavily bombed country per capita. human history, millions of unexploded bombs still in danger lives in this small agricultural country. jordyn wieber, going to happen there. even today, kids in laos full victims of bombs dropped decades ago. is the us making amends for their tragedy and help to the people need in that little land on

russia's top diplomat suggests that kremlin critic alex, they not only could have ingested a nerve agent in germany or on the plane to it. but the kremlin spokesperson stressing that no one is willing to cooperate with moscow on the case. we want to know the truth. so we said please help us have information that we do not have. please share it with us, but no one wants to cooperate. also this hour, the news that pfizer's corona virus vaccine could soon be ready for a lethal giving, but mainly to rich countries such as poor ones look like things priced out.