2100 with another 462 deaths in just one day now italys death toll continues to rise with the most confirmed cases outside of china they nearly have 60000 and fact it and more than 5400 deaths that number grows by hundreds on a daily basis over in the United Kingdom hall secretary matt hancock called on the british army to help support n. H. S. Nurses and doctors on the front line they will be delivering Vital Equipment this includes masks and protective suits this comes as the u. K. Reported over 5500. 00 cases and 282. 00 deaths germany acted quickly and is hoping its School Closures and their social distancing have helped but not curve but they wont be able to confirm that until at least wednesday this while germanys Prime Minister and the merkel remains in quarantine awaiting results of a chronic virus test now spokesman stuff and cyber told reporters that merkel is doing quite well. With the chancellor is doing. Well were told she led the Cabinet Meeting by telephone i mean they are temporarily doing her work. She had herself to look around a virus today and its now wait for the results and see what it was that was flipped meanwhile new cases in china have practically halted they only have 39. 00 confirmed cases on sunday all from travelers arriving from abroad Chinese Foreign ministry though flam the u. S. For blaming china for the pandemic. The Us Government announced a total ban on the entry of foreigners who have visited china in the past 14 days on february 2nd. At that time there were only a little over 10 confirmed cases reported in the u. S. 50 days later however the number of confirmed cases in the u. S. Has surged to over 30000 cases what effective measure is has the u. S. Taken in the past 50 days the u. S. Has completely wasted the precious time that the china won for the world under these circumstances the u. S. Is even trying to discredit others and look for a scapegoat to shift responsibility this comes as President Trump continues to refer to the virus as a war virus or the chinese virus on monday the u. S. Senate failed to pass a massive 2 trillion dollar stimulus package for the 2nd time now sending markets reacting instantly us speaker of the house nancy pelosi released a counterproposal of her own now cases in the United States continue to 3rd there are now more than 35000 come firmed the death toll of nearly 500 theyre trailing just behind italy and china new york state alone had a surge of 38 percent to over 20000 new cases this was just overnight the state is testing more than 16000 people daily michigan ohio and louisiana became the latest states to announce stay at home orders. This was following illinois california and new york but the terms of ministration deployed the u. S. National guard along with hospital supplies to 3 of the states hit hardest with this virus are california washington and new york in addition to large quantities of supplies ive also directed fema to supply the following 4 large federal medical stations with 1000 beds for new york 8 large federal medical stations with 2000 beds for california and 3 large federal medical stations and 4 small federal medical stations with 1000 beds for the state of washington now for more numbers and information on the coronavirus be sure to check out our t. V. And be sure to click on the tab with the chrono virus but for more on the markets and how theyre reacting to the pandemic we bring in boom bust cohost Christine Christy what can you tell us. Well u. S. Equities fell off the open again monday as the fears of a global recession made investors panic for this capon global Central Banks are now moving in lockstep in a coordinated effort to plug the flow but more policy support is needed from here over in the u. K. The chancellor pledged the state to pay 80 percent of worker wages up 22252500 pounds per month germany in an abrupt departure from his usual fiscal discipline announce a 150000000000 euros in new debt and the bank of japan purchased on a 200000000000 yen e. T. F. Which is a daily record now over in the u. S. However politics got in the way resulting in a whole lot of nothing the measure and next these parents losses at noon after Senate Minority leader Chuck Schumer said a massive stimulus package is very close to being done in this package to combat the economic damage from the current a pandemic will likely total more than 2 trillion dollars which is about 10 percent of the u. S. Economic output initiatives and clear programs to help main street to support lending to enable small to medium sized businesses tech bocas lenders such as where paper into it and stripe are also lobbying to be included in part of the stimulus plan as many Small Businesses leverage the digital marketplaces for loans however as of Politics Senate democrats refused for the 2nd time to advance mcconnell plan as they had other things on their agenda which had absolutely nothing to do with the coronavirus equities relinquishes gains and sold out deeper with the dow and s. And p. Off about 3 percent the tech heavy nasdaq however was down less than one percent today as we perhaps start to see a divergence with investors being more stock selective the u. S. Fed reserve announced monday its commitment to continue its Asset Purchasing Program quote in the amount needed to support smooth market functioning and effective transmission a Monetary Policy to broader financial conditions and the economy in other words whatever it takes they have removed the ceiling now as we alluded to on friday it was only a matter of time before Corporate Bond purchases will. Again and so it has for the 1st time monday as the fed moved to Corporate Bonds and Investment Grade securities and primary and secondary markets now how long will it be before corporate stocks are added to this list just like the bank of japan now as policy officially shifted into q. E. Infinity the fed is no longer just the lender of last resort it is the buyer of last resort given these massive stimulus packages the hope is that the shutdowns do not lead to business the faults closures and permit layoffs and that after the virus is contained corporate earnings can stage a rapid recovery but even with all those heavy lifting sentiment remains negative as the overall trend is still bearish were still nowhere near the turning point as the crown of ours continues to spread rapidly outside of asia so any bounce here will be brief and sold off a cohost christine thank you so much for that report. Markets are down and the feds are doing everything they can making aggressive moves announced major expansion of market intervention allowing for an unlimited bond buying plan according to treasury secretary Steven Menuhin it could make up 4 trillion dollars of liquidity to support the economy so for more on the fed and its latest moves we are joined by author of fed up a fed insiders take on why the Federal Reserve is bad for america and form or fashion insiders any algae march you know thank you so much for joining me during these times theres a lot to dig into but i want to get started with the st louis fed chief who last night said that unemployment could reach 30 percent and that we could see 50 percent reduction in g. D. P. What do you make of this. Well i think right now that most of wall street most investors and frankly a lot of small town america has is literally written off the entirety of the 2nd quarter i cant tell you how many how many close colleagues Friends Family members i know whove lost their jobs in just a matter of days and i dont think that in our lifetimes we will ever experience a quarter where the largest economy in the world comes to a sudden stop so even though d president bullards statistics that he threw out last night may sound daunting its its absolutely conceivable that we see such terrible numbers in the 2nd quarter and that is why i think getting our arms around this virus and getting it contained is so very important so that we can begin to see clarity and come out of this hopefully before 2020 ends especially because we dont know how long this will last youre right there is no clarity to that as far as we know but i do want to ask you one of the democrats main points of contention with the current stimulus bill that is its been the socalled slush fund right up approximately about 500000000000. 00 and that would allow for private companies such as airlines and cruise lines to use for businesses to continue through this crisis now do you imagine that the final bill will impose restrictions for companies that use public money to stay afloat and if so do you think that things such as stock buybacks could be restricted for companies that use public money. Well i think that policymakers lawmakers right now need to be very thoughtful and mindful of why the country is as deeply divided as it is in the aftermath of the financial crisis there were too Many Companies that were just given a slap on the wrist and given bailout funds that in turn years later turned in to buy back machines so should there be Strings Attached yes there should should taxpayer money be spent freely without there being any conditionality to it and on timidity i dont think that that is the case so i am hoping that both sides of the aisle can come together and make sure that there is no such thing as a blank check when theyre writing money with taxpayer money well and thats a problem here too now the fed is making moves of their own they announce their move to purchase a limited corporate and when a simple bonnes how big of a move is this compared to actions that weve seen in the previous financial crises for example and what other actions will the fed probably take in the coming weeks. Well its hard to say because it seems like every day that we wake up especially monday mornings being being more sunday nights that the fed is doing something extraordinary i mean to put things in perspective 620 5000000000. 00 a week in purchases is whats planned right now my goodness i mean youre going to be adding 15 percent on to the feds holdings of almost 2. 00 trillion dollars of treasuries again in the space of a week so those are the purchases that are really of magnitude right now the Corporate Bond purchased the facilities the special Purpose Vehicle that was set up via the treasury the smallness of them one of the facilities is just 10000000000. 00 lets put that in perspective the corporate debt market is 10 trillion dollars right so right now the fed is actually limited in scope in terms of the size that it can buy but youre right it has crossed the rubicon into corporates and into Municipal Bond its doing a lot we have a little over a minute left or just about a minute but i do want to ask you this what kind of danger are we looking at here for a possible hyperinflation. Well thats the problem thats the problem with a completely open open checkbook and thats that some point if there is pushback among foreign buyers of u. S. Debt lets say china for example at some point if we decide to blow the u. S. Debt up to such an extent we could go from saying being comforted if you will of all things by the idea of deflation flip a switch one day and have inflation and its place right and really scary thought indeed it is and people are thinking well i could why dont we do this before we we very well could have it its clear but only time will tell former fed insider daniel de martino booth thank you so much for your time. Thank you. Time now for a quick break but hang in here because when we return well tell you what video streaming giants are doing overseas to relieve internet broadband strain and as we go to break here the numbers at the close. Seems wrong. To me. Just to shape our. Culture. And in. The trailer. Choose to look for common ground. Over the past 5 or 6 years very aggressively people have sold dollars to buy these emerging market currencies because they can get a better yield on those currencies suddenly when all liquidity disappears during heisenberg uncertainty for its market to schroedingers cat of markets everyone is then short dollars they have to buy those dollars back because there are losing catastrophic way in all their non dollar plays in the market and this is causing a runaway Freight Train of the u. S. Dollar going higher. Vestment have become metrics bills to economic development. Most people think about trade they think about goods and services being exchanged between countries and the investment chapter of a trade agreement as opposed to looking very different but wont win investment leads to toxic manufacturing that destroys secrets of the environment. That means local communities that are being poisoned if they object if they do anything that the company feels is interrupting their profits they conducive. To taking on the whole nation Philip Morris is trying to use i yes yes to stop. From implementing new tobacco regulations aimed at cutting domestic smoking rates a fringe company sued egypt because egypt resists minimum wage democratic choice. To join us as we try to fund. One of the hardest hit countries in the world by the crown a Virus Outbreak is. Iran well currently iran has seen as many as 800 deaths in all the total number of cases of coronavirus in iran have reached 230494 several weeks the Trump Administration has offered to help iran and yet iranian leaders have insisted that the fingal biggest way that the u. S. Could provide help would be to lift sanctions on the country now for their part the trumpet ministration insists that they are ready to help and that currently there are no sanctions on medicine or even humanitarian aid flowing both countries into those you know the question and im honored to help and the doctor his health the Surgeon General speaking to other countries all the time the risk in question is what do we do nobody has ever seen anything like this theyre calling our people all of the time and yes i have let it be known that will help people including north korea including iran and including many other countries its very important to do that. Joining us now to break this all down and what is true and what is not is going to cohost an investigative journalist ben swan ben thank you for your time were excited to have you now we want to start with the most obvious question here how would actually lifting the sanctions help to fight or even slow down the spread of the coronavirus in iran and do u. S. Sanctions actually prevent medicine from getting into the country. So the 2 good questions are the to the 2nd question no there is nothing explicit within us that say medicine cannot be delivered to iran and my company of the secretary of state has been saying that the president s been saying that those are true statements however what theyre not taken into account and whats being left out of the story is that many banks and firms will refuse to sind medicine or to sell medicine to iran or to sit in equipment thats needed medical equipment thats needed like been to leaders to iran out of fear of st johns in fact Human Rights Watch says this about it they say the results of u. S. Sanctions on iran has meant that they have had to deny iran iran. Access to essential medicines and to impair their right to health so what Human Rights Watch is saying is that yes u. S. Sanctions while they may not explicitly block medicine from going into the country they are preventing medicine and medical equipment from getting there well thats unfortunate especially because iran is one of the countries thats been hit the hardest by this krone virus and now even pakistani Prime Minister am on kong on sunday urged u. S. President donald trump to temporarily lift the sanctions on iran and i was on twitter i want to appeal to President Trump on humanitarian grounds to lift the sanctions against iran till the coven 1000 pandemic is over while this appeal do anything to encourage the u. S. To lift the sanctions i mean you heard President Trump saying that hes ready to work with north korea and iran and what are other countries saying about this. Well other countries are stepping up aside pakistan you have the emirates you have kuwait you have cutter they are all calling on the u. S. To do more theyre also by the way each of those countries providing iran with cash and their city medical supplies despite u. S. Ages they are sending medical supplies into iran also china russia they have called for those same genes to be removed at least temporarily they say so that the iranians can obtain test kits because they say they dont have any testing kits there and protective gear specifically for medics and doctors and were working with people because they dont have that i mean you have to consider the fact that what u. S. Sanctions have done is meant in the enormous limitation not just on medicine but on just the protective gear that we would expect any country to have it may be one of the reasons that the virus has spread so quickly inside of iraq why is trump also then saying that hes not withholding any medicine or medical supplies are they actually fanning of the United States helping them in that sense. So the United States has not sent to that im aware of any any medical supplies what the president saying is were not stopping that from happening might pump a ive said that this morning as well he said were not stopping the iranians from getting this were back were encouraging countries in the medicines in the medical supplies its not a problem with what the u. S. Is saying though is we dont have to remove sanctions in order for you to do that but other countries in the specially banks and firms are saying wait a minute you may be saying we can do it but by not removing sanctions youre leaving us vulnerable to ultimately being sanctioned that were selves if were caught doing this thats the catch 22 if you really want to get those supplies in without fear of retribution by other countries and firms then you remove the saying that nobodys a right to do it and like you said theyre afraid because of the consequences even though theyre thing go ahead but during this back and forth errani and leaders have accused the United States of creating the virus and releasing it into their country when you make of that. Well i dont think they have any evidence of that whatsoever look what the iranians are do. Right now as they dont want to say anything about the virus coming from china because iran has a very strong relationship with china the chinese have maybe normas investments into iran we know that we also know that there are a lot of contractors who travel from china to iran all the time it is most likely if not you know a definite fact that the virus trouble directly from china into iran the u. S. Them up planted there but i think what were seeing right now is is the iranians kind of doing what they need to do the rhetoric that they usually put out the propaganda they put out that the u. S. Is secretly trying to harm them the chinese have made a comment not too long ago about how the u. S. May have brought the virus into their country again no theres no evidence of that whatsoever but at this point you know the u. S. Is doing the same thing with china the only referring to the virus as the chinese are a little home virus the sort of the show mentioning that yeah so i think right now we just have everyone pointing fingers at each other well why dont we stop pointing fingers and look for solutions its a time now to to Work Together and show that unfortunately thats not the case but hopefully that will change boom bust cohost spence juan thank you so much for your and think. There are things. Over the weekend google launched an educational krone virus website thats focused on u. S. Residents now the page google dot com slash coded 19 contains information tabs for same dems prevention and even treatments along with Global Citizen stick that shows the number of confirmed cases recoveries and death in a blog post google fed the website is quote focused on education prevention and local resources now people can find faith based information safety and prevention tips search trends related to covert 19 and further resources for individuals educators and businesses now this comes one week after President Donald Trump said that google was working on a website to determine if a test is warranted and to facilitate testing at convenient locations while this feature is not included in this current website and it isnt. Were when it will be completed but google Sister Company verily launched a screening website for people who want to get tests but that page is very limited in scope and provides information only to people in the bay area. In europe the worlds most Popular Video streaming platforms include Facebook Disney and you tube theyre all slowing their speed of their videos to keep the internet from crashing online demand is unprecedented millions of people are now confined indoors because of the coronavirus legal journalist molly barrows contributor to americas lawyer is here with me for more now molly what prompted these changes in europe. Hi sarah well in short theyre just worried the internets going to crash youre talking about a market of 450000000 people thats under the supervision if you will of the European Union and theyre concerned that if people dont cut down on the demand especially for High Definition video that it could hit centrally break the internet so there have asked the european commissioner stepped up he asked Companies Like netflix and users to stop using High Definition videos because that puts so much demand on streaming services and theyve responded theyve stepped up and said yes we will go ahead and downgrade the quality if you will so that its a little slower in its delivery and youre talking about netflix amazon prime you tube is doing the same thing disney us which is sent to was set to launch across europe tomorrow well thats a lot of altering it to step back and slow down the video and thats a lot of strain on years now here in the United States we have about 350000000 people users who are probably about to start doing the same thing if theyre not already is that going to reach the United States and is the u. S. Prepared to handle that kind of internet where were seeing is is that going to happen. I think everybody is watching and waiting were all like this hey lets hope rash but those are the. Obvious questions arent they and the f. C. C. Chairman is asking the same thing but he says so far there is no reason to fear he says hes checked in with Service Providers as well as trade groups to get a broader view and he feels like the infrastructure in place is good right now to keep that from crashing but they are following whats happening in europe you also have Companies Like verizon theyre noticing the jump in usage 75 percent with gamers by the way so a lot of people online you got kids at home from school as well as parents working from home so risin says they feel like they can keep up with the demand but it is very much a wait and see game right now because we have yet to hit the real peak of demand but can we say that video streaming then is the cause of this internet slowdown straining the internet. You know its a combination of things but they say that the real issue is going to come in with the more especially in europe as they start to hold more Video Conferencing and Live Streaming of teleconferencing if you will Live Streaming of classes so thats where youre going to see an even bigger demand because with some videos its broken up you know the essentially if youre watching a short video or even a movie its still broken up and theres a beginning and a set and but if youve got a lot of people online at the same time say taking a class thats an hour long and theyre all watching that hour long video and its continuing with no breaks then youre going to see a real big even bigger demand and thats what theyre kind of concerned about so thats why i think theyre just trying to take these steps to go ahead of repair people hey youre not going to see a decrease in quality its not going to affect your video too terribly much but we do want you to take precautions so that we dont lose it all well absolutely especially because not only the video like you said the gaming and the people working from home who may need to use Conference Calls or any of that will need not support especially because there are many people still working from home now ill tell you what wont crash as portable dot t. V. Here where you can watch r t america all the shows right on your t. V. And theyre available everywhere thank you so much molly barrows for that. Thank you sarah. Thats it for this time but you can catch boom bust on demand on the brand new portable t. V. App by Just Announced available on smartphone through google play on the Apple App Store by searching portable t. V. Or 3 must buy your t. V. By downloading the part of all t. V. Apps on apple t. V. And online at portable dot t. V. You can also find our coronavirus tracker on the portable t. V. App or you can get the latest news and information about the spread of the virus and as always check us out on you tube dot com slash boom bust the next time. Youre. Going to go to. That. Im. A dog industry comes to life in los angeles every night. Dozens of women sells the bodies on the streets many of them underage. Los Angeles Police reveal a taste of their daily challenge if youre going to exploit for a child here in los angeles there were going to come as you see officers going undercover as 6 workers enter customers just like the 6 trade. Your government and our government and all the other major governments of the world know whats going to happen and when its going to. But they havent told you and they havent told me they havent announced. Imagine something as big as the earth is going to cause tidal waves earthquakes volcanoes are wrapped and its going to help. So very for a while right. My great grandfathers. Nobody would care about the law or prison so youd have wallace those should have. A terrible life between the and the. Show seemed wrong. But all in all just dont call. Me you all get to shape out these days become educated and in gains from it equals betrayal. When so many find themselves worlds apart when shes to look for common ground. Welcoming our viewers from around the world live from Central London this is r. T. U. K. The u. K. s 1st day on lockdown after Boris Johnson announced tough new measures to tackle the spread of corona virus that many continue making the journey to work. The Health Service is under pressure as intensive care stop a force on the part of more than their patients ill be talking to a former n. H. S. Force. For the u. K. Apparently 2 weeks behind italy is outbreak and lockdown there are fears britains death toll could not start the fire season european epicenter. And
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