building things that they have other components from other areas of the world so this is going to impact the global automotive industry they're talking about g.d.p. being impacted by up to 5 percent that's huge when you're looking at something that's one country can impact that much on others other companies such as suzuki have were going to go to china to get components and they're sticking with india and i think you're going to see a lot of other companies looking to other places to get parts lord i do actually have a follow up on this because when you talk about almost every auto manufacturer being affected by this i mean china is the number one producer of autos are there actually manufactured there not to say that the companies are chinese necessarily so is anybody going to come out a winner on this is there anybody who's in a position to actually move you know move past this or is it basically the whole industry is kind of suffering and nobody gets a leg up. i don't know if anyone's going to get a leg up because the parts industry isn't being impacted they call it the rock candy mountain there because literally a lot of components are being built for all over the world and so this is one of the things that you know we think about not just automotive but everything from cell phones to any component any thing that has electronics is going to be produced in china these these impacts are so dramatic that you're going to see maybe not today but let's say they started production back up on the 14th the 17th like a lot of manufacturers are hoping for because that's not in concrete as we know you're still going to see a pipeline problem that it's going to take time for once they get everything back up and running to get these components typically you're looking at a 3 month variance so 3 months down the road we may see a shortage of an impact that's quite dramatic and a shortage of parts and components and cars being. assembled so the production element especially when it comes to parts is a big deal here as you mentioned but as i was talking about china is the world's largest auto market nissan is already witnessed a 12 percent fall in their china sales in january what are we seeing as far as vehicle purchases in china have those kind of ground to a halt as well. they've definitely ground to a halt consumer confidence is way down when you think about china being the number one car market if nobody is out no one's working it's definitely going to be a major impact on consumers in their confidence once they get back to work they still have bills and things they have to pay so this is going to take some time to catch back up so i think the impact is going to be quite dramatic as auto sales have been definitely down in china year over year and lord take it a step away from the whole coronavirus situation ford motor company on friday actually announced president joe heinrich's is retiring after nearly 20 years with the company and jim farley will take over as c.e.o. which positions him to eventually take over for c.e.o. jim hackett now this news comes as ford posted losses of $1700000000.00 in the 4th quarter of 29000 what does all of these changes or what do all of these changes and what does the change in leadership mean for the future of ford. well let me does i want to clarify this because no one's talking about this on any network the reason joe heinrich's was basically asked to step down is they're blaming him for the debacle with the ford explorer in the lincoln aviator on the launch there were some problems but i can't believe it's his fault and then there's other things going on with maki sales not being what they claim they are so jim farley who was the head of that marquee program will now be taking joe heinrich's position he'll be working hand in hand with with hackett unfortunate looks like hackett's contract is due in march and so it's highly likely that he will step down which would leave an opening for jim farley to be the next c.e.o. and i'm very concerned because jim was an excellent car person our job was an excellent car person and love cars and you have to be truly passion of our cars although jim farley is it's a different kind of passion he wants to do all electric autonomous cars and although the market isn't buying that here you have to look at your number one bread and butter which is f. series trucks and you can't be making those looking like mustangs and making them all electric because you will upset your base and they'll go to other companies to buy cars so i think we will see but i'm very concerned about this change and speaking of going to electrics we talked about this earlier this week the u.k. prime minister boris johnson he did it down through the government plans to ban the sale of gasoline in hybrid cars he said by i think 2035 germany similar plans to do this kind of thing do you ever see this actually happening yes eventually we might get there but at this point is it just lip service to the world that's kind of. i think it is a lot of lip service out there he's going to the u.n. to speak at us climate summit to say hey we're getting there 5 years earlier than we had expected but you have to remember if you're in london you live in a flat how are you going to get a cord to plug in your hybrid so again there's going to be some serious problems i'm here in new york city we have the same problem i'm going to pre-war building there's no place to plug in there's no garages you park on the street so forcing people to purchase vehicles they don't want is not working their sales of electric vehicles are down gas and diesel vehicles are 90 pursue. and of the sales in london right now so how in the world are they going to switch it all to electric vehicles by 2035 i don't see that i think it might be just a lot of lip service and anyone even the people that are totally into electric vehicles have said you know what this is not to happen this is a future disaster and and there's just too many too much impact on the electric grid there grid can't support it neither can ours more and are we seeing this push to because you know i mean i think i think tesla has made that push for evey's go further because when you look at tesla they're cool they're technologically advanced i mean they look like the concept cars that some of the big autos are putting out now but is that why we're seeing this push. well the push freebies is part of this green new deal in this climate summit trying to everybody's trying to come up with a better way not to pollute i get that and i understand that but it's electric grid can't support it and there's no way to recycle these batteries and we still have tons of solar panels and the zeevi batteries sitting around with no way to recycle them we might be having a much larger environmental problem down the road but we're putting the cart before the horse that i'm really concerned without having the infrastructure you know are boris johnson is jumped in with both feet and we shall see but he managed what they got to space lauren fix the car coach always critical of the evy sector but i love that thank you so much for your time today. thank you. global stock standard on a friday after what had been the best week for stocks since june and the strongest week for the dollar since august it was a big week as the market pushed back against fears of the coronavirus and things to a $400000000000.00 wipeout on monday shanghai was facing its worst week in 8 months for more on that let's go to this week's market walk. after the coronavirus wreaked havoc on global markets in recent weeks we are seeing a lot of green arrows on the rebound let's start in russia with the mo x. it is barely up on the week though there were substantial gains before russia's central bank cut its key interest rate to 6 percent on friday which caused the market to take a bit of a plunge but it stayed positive now moving over to asia we're going to star in shanghai where the composite is up mostly regaining the losses that have been due to the coronavirus prior to the lunar new year celebration which had markets closed for the entirety of last week now markets were reacting quite a bit to reaffirming phase one trade deal between the u.s. and china and a slowing of tariffs in hong kong also another green arrow as we said the hang seng is actually had its best week in nearly 2 months shares fell on friday but were more than 4 percent higher. they are for the weak policy makers help the market with liquidity injections and it's a tooting some restrictions on sell offs in japan the nikkei also up on the week making up for recent losses now they were also pushed up by the cut in tariffs announced earlier this week and as we discussed earlier in the show there were some concerns for the likes of honda and toyota as manufacturing has slowed in china now going to move over to india this actually jumped 1500 points on the week and yet the markets were really climbing on the back of strong market manufacturing and services p.m.i. numbers which continue to go up for the 2nd straight month now the services sector also surged to 7 year highs in january in india we're going to move down to australia where the a.s.x. is also up again rebounding after a tough week last week as is generally the case with australian markets that were positives in the mining and metals and materials sectors and finally moving to south africa the all shares it's another green arrow however on friday the south african rand hit 3 month lows against the us dollar causing markets to dip at the end of the week so there is that to be concerned about in south africa let's move it over to ben to check into markets and the e.u. and the americas all right well over in europe as i mentioned just a minute ago just about everybody was up this week and as we start over in europe the cac is way up thinks the news that china would have tariffs on some u.s. imports as part of that phase one u.s. china trade deal the dax over in germany also in very good territory it had a very strong week as did the footsie over in the u.k. and for european markets it's been pretty much the same thing markets pushing back on fears of the corona virus continuing to spread plus there are hopes that the chinese will infuse even more stimulus to help boost up markets over in south america is also up for the week even though it peaked on wednesday it has been dropping ever since sliding into north america now the b.m.v. in mexico the only place we were actually down this week but here in the u.s. all 3 major indices are up as. well and as i said up isn't even the right word we are in record breaking territory all throughout the week let's be honest because all of this is not about less fear of the coronavirus that doesn't even really make sense right it is about the federal reserve pumping money like crazy injecting $94500000000.00 into the banking system and repurchasing government securities from banks that is what has got everything up so high and jumping up north to canada the t.s.a. is up as well this week as canada's main stock index help from crude oil and the canadian dollar being up and the april gold contract that's up as well and that is this week's market walk. in time now for a quick break but hang here because when we return to the u.s. attorney general really just say that the u.s. government should take ownership stake in cell phone companies which companies and why right after the break in as we go to that break here are your numbers at the close. copper prices telling us about the globalization the dollar is asian population also the big banks the market tells us the cycles of the markets are telling us something that you don't hear in my stream media and that's always been the case since markets are bad it's always price precedes news. the whole truck might appear showy and shallow but he is once again defied his critics this time by securing his impeachment acquittal what is it about the 41st president of the united states that makes people love and hate him so the. tough in finding him on the front of the mcconnell way or both to subsume. bandicoot so smooth to. close in this way got to talk so hard not to think of the other disappointed to see them look like they are and i know from the start that. this is the only thing that we do is music because everybody fights a useful way. to. the floor live from all the feet down this bill frist would have been driving home the evil of the truth of. what i think is this is the fund that is a complete. the russian state television propaganda machine propaganda outlet propaganda tools we are in an information war. that can change the world tomorrow. you tube videos the. west russia today missile launches network on my. question brushes russia russia and russia today is. what i was. feeling here that they were actually russia to go and i'm really happy to see you then on r g. 4 are so proud and still. are just getting to a number. why have you not shut down our t.v. on you tube it's a propaganda machine mr walker. welcome back johnson and johnson was ordered to pay $750000000.00 in punitive damages to 4 plaintiffs who say the company's baby powder caused their cancer now the ruling by a new jersey jury will be reduced to $185000000.00 due to state laws which caps unit of damages 5 times the amount of compensatory damages now during an earlier portion of the trial a separate jury awarded the plaintiffs 37 point $2000000.00 in compensation johnson and johnson issued a statement saying that they would appeal both rulings claiming there were numerous legal errors that subjected the jury to irrelevant information and prevented them from hearing meaningful evidence on the news of the verdict changes stock was down more than one percent on friday the company now faces more than $16000.00 lawsuits in relation to the claim that their powders contained its best those in the company failed to warn consumers day for wireless companies ericsson and nokia thanks to the trumpet ministration floated the idea that the u.s. might buy a stake in either of these companies as a way to counter while way the idea was brought up by attorney general bill barr in front of an audience in washington on thursday barr who along with the rest of the trump administration has been attempting to block while these development of 5 g. technology said that the u.s. should consider taking a controlling interest in the 2 nordic companies ericsson is a swedish company nokia is based in finland it's also worth noting that barr is a former general counsel of cell phone carrier verizon communications which is also a big customer of ericsson and nokia or right now this is just a floated idea that may not have any merit but if it were to take shape the more likely candidate would be ericsson as the company does not have any state ownership the finland government actually holds a 3.8 percent stake in nokia of course all of this is again an attempt to weaken wall way meanwhile wall way itself. partnering with a number of others chinese cell phone carriers to build a new operating system in order to completely abandon google's android system during the summer which played out part of the story is google's correspondence there is a month of thanks for being here thanks for having me all right so let's talk a little about this because the idea here is that we're going to see wall way and other chinese companies abandon the n. word operating system is that the idea and essentially create their own well that's kind of the idea that we're looking at even though necessarily while way is not mentioned on this it's a global developer service alliance the g.s.a. where we're seeing 3 chinese companies show me open and they're saying while way possibly which are uniting now to kind of create their own i o. s. software application now we know that their software we do know that while away the partnership they had with google is now obsolete at least for now they're there they don't have any google apps available on their phones but we also know that way is building their home harmony o.-s. software application that is due to be released probably in the next couple of months and if these companies were to actually come up with an android alternative route we're talking about 4 or 5 of the actually largest manufacturers of smartphones they hold what about 40 something little about 40 percent of the android marketplace as far as cell phone so if they want to take it they would take a huge chunk out of google's business which i mean is not necessarily reliant on android but they would probably make quite a bit of money and they are in the most interesting part is that they're they've come out of that they're not trying to compete with google and even huawei with their harmony alas there said that they're not looking at this as a competition but that they're going to create something bigger than the android google play so i mean really looking at it we know that they're probably trying to find an alternative after a while i was banned there thinking who could be next but i mean you know well because that's kind of the point when you go into competition with someone you're saying i see what you're doing and try. going to share of that market that's not what's happening there this is more of a self reliance and almost a survival mode for these companies to say we can't be dependent on android it's also got an interesting you know google made a decision to not really pursue having a success i don't know if it's a decision but a successful developing company they have google pixel but let's face it. or like the google phone but instead they have the enjoyed operating system which was much more meaningful to their bottom line than having phones has been but if you cut out 40 percent of that business that's a pretty significant amount especially especially of the data collection part of the business right it is and even looking at wall way who's been trying to develop this harmony of us for quite some time now originally they said it was going to going to take years last november they said it's going to be anywhere from 6 to 9 months so they're obviously proposing that process because again like you said it's competition who will be next what we want the bigger and better thing even if it comes from china right and you have to look at it too as right now the majority of that market is android. so that's all it is there's room windows but mobile has what one or 2 percent i guess who has that. but so number one there's an opportunity for a nother big operating system and if you have companies that own about 40 percent of the android market anyway why wouldn't they come up with something on their own well 'd and again if you're talking about this development overall as to what is happening here in the united states there's this big stigma right now about china but the rest of the world doesn't necessarily feel the same way and while way that you have to know is around the world it's 2nd largest market is europe so and i think the latest decision with the u.k. for example allowing their 5 g. networks i'm saying also that they're so far ahead of 5 she has other competitors i think this this is really kind of looking at that race for 5 g. and trying to build up to while away and while we're really as a part of this and this could be big for these these other chinese companies. r.t. correspondents thank you so much. so the secret service has arrested 2 people at the center of what they are calling a crypto ponzi scheme that reportedly defrauded more than 100 investors including former professional baseball players and all authorities say that at least $7500000.00 was taken from investors over the past 18 months the 2 people at the center of this john michael caruso the founder of zima digital assets that's the 1st mistake. the michael jordan of algorithmic cryptocurrency trading that's the 2nd mistake and zachary salter an aspiring r. and b. singer 3rd today according to court documents caruso who declared an income of just $22800.00 in 2018 so he didn't have any money convince dozens of people including these former players who had a lot of money that his company which was poorly named was skillfully playing the crypto market in generating big returns prosecutors say that what makes this a ponzi scheme is the pattern of investor payments against investor payouts with no investment of funds actually taking place stating quote no evidence of any investment funds have gone to any crypto currency digital asset investment or to any investment of any kind in quote sounds bad so where did the investor money go but you can guess according to prosecutors to fund a psalter in crusoe's lavish lifestyles including luxury cars flying around the world to exotic locations and 30 trips to las vegas where caruso reportedly lost more than $1400000.00 gambling in a 13 month period so he wasn't even good he couldn't figure out how do you able to remain good at anything you wanted by the way i just want to point out that michael jordan of digital assets algorithmic trading and already we are aspiring r. and b. singer all we had. was a club promoter in this mix and we really have the worst type of people involved in everything it is and one of the things that prosecutors are using are instagram posts these guys have put up where they're buying fancy cars one of the guys salter i believe bought a mercedes or something for his girlfriend and he had pictures of it on there and these guys drive me crazy because this is if it's true and it appears to be the worst kind of news that you can get about kryptos a crypto has a lot of great positive things about it and then there's some really ugly nasty negative things including scams that have been run by people like this when they just take money from people because it's so new you don't really know if you're being right but at least but these guys weren't even they weren't even like bad script oh investors they didn't even invest the money in crypto they were just having crypto in the name is actually wrong it was just a scam scam it was even a crypto scam it was a scam to get that's it for this time you could catch boom bust on demand on the brand new portable t.v. app available on smartphones through google play the apple app store by searching for the t.v. or stream is to your t.v. by downloading the portable t.v. apple on apple t.v. and online it portable dot tv t.v. is coming to more devices very soon i guess you call it and legit scam as always you can hit us up at youtube dot com slash boom bust our t. and we see you back here next time. you will be a reflection of reality. in the world transformed. what will make you feel safe. isolation because you don't see. you going the right way. so. what is true. what's his fate. in the world corrupted you need to descend. to join us in the depths. for a mate in the shallows. and we're going to fulfill the repeated promises apologise to the people and promise to be you know we've all pots the. pretty rough. cut. that you want to 1st. know. all. cut. up by you thinking of getting your music on the ones we've got and she was signaling still trapped in this time you know wired we don't need a crate with him he will just. freaking out he won't let us bring him anywhere near and thousands of breeding dogs are caged in the interview lane conditions on puppy farms i mean 67 years you know they've been locked up in cages outside you see no protection from the weather the heat you know the cold air the rain the snow the funder nothing they have no protection. because you. know it's a kid. across the u.s. . cruel puppy mills are supported by dog shows on pet stores most of the puppies that are coming from these large scale factory farming kind of operations are being sold in stores even joined a group businesses are involved like the mum son to there has been a shocking amount of organized opposition to efforts to increase the standards of care for dogs bred in commercial breeding for so many most of that opposition is coming from huge agricultural groups and industries that have nothing to do with dogs don't buy dogs. so the politicians have basically stuck the american public with the delegate to negotiate for drugs and both parties who are financed very heavily by the pharmaceutical industry have done this so when your own people vote they should look at how much does this politician get from the power pharmaceutical industry. in his community there are people who believe that it's ok to sell fractional food on my table it's really hard there are no jobs and you see that i've got kids that ask and as a parent. i can come up with lots of arguments there's a lot of conflict within the game and between the teams close to the conflict i would say throw the ball around money and most of them money is made. close one only to those to those he know each other and this could be just the state of california alone to make $6000000000.00 a year of prison complex just to get some point in your life where. you don't care and where nobody cares about your so you don't care mind anything. global chemical weapons watchdog slums to full blown inspectors to expose significant flaws in its report on the an alleged chemical attack in the syrian city of duma we look at the credibility of the o.p.c. to produce claims. couple accused of arranging the murder of their adopted son in order to collect insurance payouts walk free but now they will not be extradited to india to face trial after the u.k. high court cited human rights. we compare the us democratic party primary in the state of iowa small by technical glitches irregularities and premature announcements of washington's hysterical response to november's electoral confusion in socialist bolivia.