Changing life as we know it as the global toll now surpassed about 17000. 00 with more than 395000 total confirmed cases indias Prime Minister declared a 21. 00 day nationwide lockdown extending the restrictions to the entire country of 1400000000 people countries across europe are also looking to extend nationwide lockdowns are declining in italy for the 2nd day in a row offering a glimpse of hope italy had a world record death toll of about 793 on saturday that number declined to 601 on monday in spain things are worsening as the death toll jumped by 514 in just one day now according to data and nearly 14 percent of spains total reported cases are Health Workers but on a positive note Emergency Service workers gathered outside the hospital clinic in barcelona to join in cheers as Police Officers led a tribute for Health Care Workers as they issued a desperate plea for the public to stay home the u. K. s Prime Minister Boris Johnson announced rustic measures for the british people to stay home while also highlighting the countrys state of the our resources. The crucial thing for the public to understand is crew of ours is of concern it is a its a novel. But its something that this country really has the resources to do we have state of the art facilities we have a fantastic n. H. S. We will have to get through this but believe me we are going to be. Meanwhile the epicenter of the city of 100 china is looking to ease travel restrictions and will lift the lockdown on april 8th the move follows a significant drop in new cases in the who bay region and new cases drop to 0 for 5 consecutive days starting march 19th now over to japan where the summers 2020 Tokyo Olympics have officially been postponed japanese Prime Minister shinzo abbay and i. O. C. President thomas batch agreed that it was best to hold the olympics next summer. For georgia killed more than one based on the Current Situation and we have made a proposal to consider perspiring in the games by about a year to ensure that the worlds athletes can play in the best conditions and to have a safe and secure tournament for the audience i received an answer from i. O. C. President barak that he 100 percent agrees it was agreed that the tokyo lympics and paralympics would be held by the summer of 2021 at the latest oh this is the 1st time that the olympics have been postponed for reasons other than war meanwhile on tuesday the World Health Organization said the United States has the potential of becoming the new epicenter w. H. O. Spokeswoman Margaret Harris told reporters quote we are now seeing a very large acceleration in cases in the u. S. So it does have that potential currently the u. S. Has over 46000. 00 confirmed cases with just under 600 deaths new york state alone has been hit the hardest in the u. S. With more than 21000 come from the cases and 157 deaths. And then new york city has 13119 cases with at least 2200 hospitalized patients 525 of those are under intensive care california is greatly impacted now calling for 50000 more hospital beds this while the u. S. Senate continues to argue over the nearly 2 trillion dollars stimulus package and has failed to secure an agreement but on monday President Donald Trump told reporters he expects the American Economy to reopen pretty soon. Im not looking im not look at as months i can tell you right now were going to be opening up our country you know you have tremendous responsibility we have jobs we have people get tremendous anxiety and depression and you have suicides over things like this when you have terrible economies you have death probably i mean definitely would be in far greater numbers than the numbers that were talking about with regard to the virus so we have an obligation we have a double obligation for more numbers and information on the coronavirus be sure to check out our purple dot tv app and look for the section that tracking chrono virus. For more on how the corona virus continues to impact markets across the globe we are joined by boom bust cohost christine christy. Now sarah we have another 4 did a day in the dow as Global Indexes all search on stimulus hopes that lawmakers are getting close to a massive 2 trillion dollar deal was led by Energy Bouncing over 11 percent followed by industrials and financial that each jumped more than 9 percent stocks hit hardest by the shutdowns resulting from the crowd of virus led the gains tuesday with casinos and hotel names airlines and industrials all gaining double digits the dow surged the most since 2008 than 10 percent as investors rediscovered some Risk Appetite but even as the government touts all these relief Efforts Companies especially Small Businesses are still struggling to tap into the funds lack of clarity and support will stall the economic recovery if the funds are not the plight asked not the worlds supply chain is now just barely hanging on a selective supply shocks to lay goods received at the borders as the stimulus bill continues to forge ahead some highlights include Cash Payments of up to 2400. 00 for married couples and 500. 00 per child a 350000000000. 00 or so. Businesses to mitigate layoffs of 240000000. 00 in health care a least 25000000000. 00 in grants for airlines and 75000000000. 00 in aid for hospitals while the bounce today is optimistic it does not mean that weve come to the end of it these are reflexive short term rallies and the new mantra should be adjusted to sell the rally rather than buy the debt especially if the deal is still only in talks and has not been passed yet despite promises of a tuesday deadline another delay could see the market getting smashed again in frustration and disappointment jay met preliminary march manufacturing p. M. I. Dropped to 49. 2 thats a 127 month low driving the downturn in the services alpo was a steep fall in new businesses now meanwhile the u. S. Dollar fell broadly after the u. S. Fed committed to buying an unlimited amount of bonds trying to prevent a wider crisis the falling dollar created backs for emerging market currencies to rally for the 1st time in days to call it a turning point now would be too strong a word at this point this is the 3rd week in a row where weve seen the bounce on the latest policy announcements and then sliding back down as the economic reality of the situation reemerges bust cohost christine thank you for that. Wall street saw a big jump on tuesday signaling hope for the u. S. Economy as fears of a deep global recession continue to mount as countries remain in complete lockdown over the coronavirus now we bring in chief strategist above a trade of a harley and c. E. O. Of transforming the research tobin smith gentlemen i want to start with you todd the u. S. Markets are near the levels that they were back in 2016 when trump was elected but how much of an impact will this stimulus package have on the markets and the broader economy especially now that were seeing it go up just a little bit. Good afternoon sir you know listen the markets are going up today that today looks more like a Short Covering rally it looks like not a real. Big deal theyre trying to bet on this thing of more free money and more is stimulus but again soon this is not create growth if people are going back to work were not going to get the growth we need to continue its not going to affect Company Earnings so at the end of the day if youre a fundamental person this is not going to help the fundamentals all this is only another temporary bandaid that theyre slapping out of no different than what the Federal Reserve is doing with these bandaids they continue to apply in the meantime accumulating massive amounts of debt which will never get out of so thats to me its no big deal and this is nothing but an opportunity to sell and with a deal passes or doesnt pass i think the market sells off from here well lets hope so because otherwise we may be close to to a global recession not just the United States but across the globe with so many countries locked down but tobin i want to talk about the u. S. Dollar which remains relatively strong yes it went down when the fed Federal Reserve say that they would buy a limited of bonds but it still remains pretty strong do you think this could have an effect on how the economy recovers when the virus actually subsides and if so how. Well heres whats going to happen remember were going to be issuing 3. 00 to 5. 00 trillion maybe 6 trillion dollars of bonds the treasury is not going to buy all those theyre going to be sold to people like them you know Norwegian Wealth Fund Norwegian Wealth Fund cannot buy the bonds with kroger theyve got to buy dollars so our strong dollar can dollars we always call it is going to stay king here for a while the place that it kills is in the emerging markets because the emerging markets took their debt from the last crisis and quadrupled the amount of debt they have and most of that is in dollars so those are the guys are getting killed we have other problems but the dollars not going to hurt us well if it doesnt hurt us it definitely is hurting other global economies but you know tobin let me ask you this do you the spec shifting to a little bit of a Consumer Behavior sector could a Consumer Behavior affect the profitability of Certain Companies could people be less willing to say go out to restaurants or even go out to theme parks like disneyland in the future after the virus subsides or even even in the near future if actually reopens the economy like hes saying now he said hours ago by easter thats weeks away. But Human Behavior does not change we are hard wired back from the days we were you know ok but in the savannah to be social because actually to be social to our inside to our limbic system to our you know brain stem being social means were safe when were lonely our brain tells us that were not safe that says that you know its still the old paleolithic brain right thinks that if its feels lonely then you actually are in danger so humans will follow the behavior that is hard wired into our brains and maybe theyre going to stand you know 5 feet away i was going to cosco yesterday they were letting people in you have to stay 6 feet away and all right maybe theres a little bit of a line but i bought just as much of yesterday as i would have any other day. And you know probably because weve run out of booze at our house for gods sakes get a restock on. Your bigotry together not the toilet paper nor the life of themselves the important stuff the import exactly well let me shift a little bit to all remains pretty volatile despite amid the impending stimulus package it went up about 3 percent do you suppose that will see Us Domestic Oil production drop to the fallout that happen at the opec meetings earlier this month or will we actually see Domestic Companies unfortunately disappear. Especially because some will disappear i mean some are certainly on tight budgets and over exposed and over leverage to the market and of course 24. 00 or 23. 00 are not going to make any money but i think that will continue to as is and but again remember you have to remember the big thing here is the lack of demand without business in operation without the normal flow of people driving theres no demand for oil so i think youre going to see that theyre going to start shutting down some of these rigs and theyre going to are pointed away again as they were in the past this will be the 1st time and at these prices theyre going have to wait until theres a lot because weve got to go a lot long before we had the coronavirus long before this slowdown we already had a lot of oil so oil was well overpriced now its probably fairly priced maybe a little bit in the cheap side but overall until we get back in business and its still the trucks start rolling in the car start rolling and people start doing things theres going to be demand for oil so thats going to keep the demand low which is going to keep prices low on the United States has become the number one producer of oil to and years but when your take. Well 2 things are happening 1st off. Lets separate oil from natural gas because the weve got a bigger boom in natural gas and because we close all these coal power plants natural gas is actually doing fine i mean were were were not oversupplied at all on the oil side river saudi arabia russia got into a price war there theyre there theyre all entire idea there was to crush the shell people here and russia has so much in reserves a plan for this that its not going to be nobodys going to blink in the kremlin and nobodys going to break in saudi arabia for a while well that price. You im sorry was so i mean it was what it means is the marginal Oil Producers with debt theyre going away theyre going to out of business our people down in texas are telling us you know were probably going to lose one 3rd of the shale oil people which then of course natural gas comes out of the ground when you do shale oil so thats actually going to decrease natural gas which is going to raise Natural Gas Prices on the u. S. Companies still have a lot of debt to pay as on the shale remains around the 5050. 00 range so hopefully it wont come to that and opec can can agree and members and nonmembers can agree on something over the production of oil the horowitz chief strategist with the trading c. E. O. Of transfer Many Research thank you for your time. Time now for a quick break but hang here because when we return well tell you why appear raul is facing a Class Action Lawsuit as we go to break here the numbers at the close. Join me every thursday on the alex im unsure when ill be speaking to guest of the world of politics sports business im show business ill see you then. Show seemed wrong. But old rules just dont hold. Me close to get to shape out these days to come to agitate and engage with equals betrayal. When so many find themselves worlds apart we choose to look for common ground. 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. Heisenberg uncertainty for x. Market schrodingers cat of markets everyone is then short dollars to buy those dollars back because theyre now losing catastrophic plan all their non dollar plays on the market and this is causing a runaway Freight Train of the u. S. Dollar going higher. Go. A little bit beyond d. N. A. In some way going over the complete im not sure really is such a great thing you know im sure you look better now than when you had hair how. Long its nice for you to say so but i do i went through when i was 2500 wasnt so great fam. According to industry and federal officials some major u. S. Airlines are now drafting plans for a potential voluntary shutdown of all passenger flights across United States aviation analyst jamie said airlines are just trying to mitigate their losses. Those who support us. On the airlines you know. Some of those who. Actually are just. People who were. There all of this earlier this week thousands of flights were canceled while others took off with single digit passengers u. S. Airlines have already cut International Flights and united and American Airlines canceled 40 percent of their scheduled flights now because several federal Aviation Administration air Traffic Controllers have tested positive for the krona virus alive and Traffic Control facilities across the country remain closed after a week of cleaning and the Transportation Security Administration cited passenger flow was down more than 80 percent from just one year ago while no final decision has yet been made several options are being considered. As more and more states and cities into to stay at home orders even more people are turning to Online Shopping to stock up on items like toilet paper Hand Sanitizer and protective masks over the past few weeks weve told you about price gouging right its taking place on sites like e bay and amazon but now amazon has cracked. Down in fact the nations Largest Online retailer has reportedly suspended as many as 4000. 00 accounts for reportedly violating its fair pricing policies joining us now to break this down but cohost an investigative journalist bence 1. 00 ben lets start with amazon why what are they saying about these these accounts and why have they been suspended. Yes and what is amazon is simply saying is that about 4000 different accounts about half a 1000000 items they say have been removed from the site because they claim that these sellers are violating their fair practices policy essentially saying that they are selling items like Hand Sanitizers and facemasks certain kinds of cleaners and that theyre marking those prices up we would call it price gouging right and so what amazon is saying these they removed not only these from the web site but theyve actually taken a step further than that they also say that they are sharing the information with states attorneys general and federal regulators about sellers who they believe have been participating in price gouging and they are essentially sitting that information over in case those a. G. s or the feds want to prosecute the white house has become very much involved in this as well on monday President Trump signed an executive order to prevent hoarding and these price increases of these supplies amid this outbreak what does that that actually mean for people at home well it doesnt mean a whole lot for people at home so all the people who have run out and bought like huge amounts of toilet paper which i not understand exactly why that is happening but theyre doing it and the Administration Says were not going to come after you if youre buying a lot of toilet paper or stockpiling stuff in your home but the example they give if someone has a warehouse full of masks that theyre holding onto and not selling then well go after them but i got to tell you i think its concerning both these issues 1st of all on the price gouging side look nobody likes the idea of price gouging but there is also a free market principle called supply and demand when there is a greater demand for things the price goes up and the things you want to say really gal. People fort on the other hand this idea that if you have have a warehouse full of masks obviously youre producing those masks the administration is saying if you dont go out and sell those or make them readily available to the public youre committing a crime youre hoarding this what theyre calling in theyll come after you with the d. O. J. That seems like i get overstep of the me right and you know people there are now a limits on what you can buy or the amount that you can buy more and its really nice to hear some stories where people are actually donating or giving these objects and not that they hoarded but theyve purchased and are now giving them to people who need them but speaking of amazon there are reports that the company is now teaming up with king county in seattle to pick up and deliver coronavirus test kits are the standard amazon delivery drivers picking up and is handling these tests and will we see this across the rest of the states i think we may see it i think one of the things that we have to look out for right now is amazon vastly trying to expand out of their network that could be a good thing but it can also be a negative thing in this case what amazon is doing is they are essentially working with the bill and Melinda Gates foundation whos funding a lot of these tests and then they have their workers essentially go in and delivering the test picking them up as well they say that this is to a special program called amazon care it is not the standard worker they say instead these are all people it says who have been involved in training in handling medical material and that these they will be distributing self swab kits for those people to test themselves who are handling the as well so as i was doing that right now the u. K. Is also talking with amazon about doing delivery up to code coronavirus kits across that nation is what i mean that would save people from protection of the Health Care Workers too from people coming in and hopefully flatten that curve that weve been trying to flatten for some time now boom bust cohost and so on thank you so much. Thanks. Just when you may have been kicking yourself for not investing in that Hand Sanitizer the manufacturer of purel Hand Sanitizer is actually being sued for overselling health octave it actually is well legal journalist my therapist to be a Little Miracles lawyer joins me now to discuss the Class Action Lawsuit molly whats the basis of this lawsuit. Hi sara well the basis of it essentially is misleading claims it says that pirelli is claiming 99. 9 percent of illness causing germs are eliminated by Hand Sanitizer when in fact theres no scientific basis for that claim so this is a class action suit filed by about 4 people in federal court in ohio and theyre saying hey youve got this scramble to get all this Hand Sanitizer and were not even convinced that you can kill all the germs you say you can kill well lets look at the timing of all of this right its when people are are just trying to get their hands this is like gold right now why was this this Class Action Lawsuit filed now and could other brands and other products like lysol for example who also market is almost 99 percent killing of germs could those be next. Youre exactly right now im not sure if this will extend other products but its funny you should say that theres a bottle of clorox wipes that are sitting here and they Say Something similar so ill have to look into that but its actually been an ongoing issue as far as this particular legal issue is puro a separate entirely different Class Action Lawsuit with a similar allegation was filed in the same federal court last month and it says something similar that they broke the Publics Trust they repeatedly marketed these unsubstantiated claims basically the f. D. A. Even sent a letter to go joe which is the company that makes pure out saying hey quit youre a substantiated claims about how effective your product is and they even pointed to several ad campaigns claiming that it could prevent everything from the flu to bowl and the norovirus actually says you dont have. Adequate studies right they dont have adequate studies proving that they can kill or reduce the number of bacteria or viruses that are actually on the skin and that it actually reduces the chance of infection by doing that or saying hey you dont have the proof to back up your claims quit leading people on and theres a lot of disinform ation out there i even received a mean not too or a picture not too long ago that a clorox wipes behind it said that it kills corona virus and im sure that was plastered on there to for people to go and purchase these clorox wipes but considering the skyrocketing demand how is the sanitizing business doing these days. This is really skyrocketing i mean as you know its flying off the shelves people are even hoarding it so youre going to see a huge increase in the number of sales i think its been like 14001400 percent over a year period from december of last year to january of this year so it is done extremely well i mean even and his or bush is getting into the Hand Sanitizer business if you will though i think theyre making it more to be a benefit to the public but theyre making a different sort of alcohol based product now to hit to deliver to hard hit areas and work with the american cross to do that but yeah its definitely in high demand and according to nielsen hands out of Hand Sanitizer purchases were up like 73 percent in february alone and clorox 2 of their stock went up and was doing pretty well in the market these days but like we talked to a lot of people are hoarding these and or either donating them which would be a more positive note but well see if lysol and other products then follow suit molly barrows contributor with americas lawyer thank you so much. Thats it for this time you can catch boom bust on demand on the brand new portable t. V. s available on smartphones through google play and the Apple App Store by searching portable t. V. 3 must buy your t. V. By downloading the portable t. V. App on apple t. V. And online at. And as always check this out on you tube dot com slash boom bust r. T. The next time. So what weve got to do is identify the threats that we have its crazy from day shouldnt let it be an arms race is on also in the spirit of Dramatic Development only. I dont see how that strategy will be successful its very critical daryn. You sit. Welcome to on contact today we discussed the criminalization of rap with author eric nelson i testified in a case where the game investigator along with the prosecutor took this kids lyrics notebook but you know page after page and went through lyric by lyric and explained oh this is where he confesses to this and this is where he talks about his game membership in this is it turns out that that that the song that they spent all this time with wasnt his he even had the name of the real artist on the top in the title of the song and they had spent all this time characterizing something that this is just a kid writing the lyrics artist who likes this that happens a lot. The anguish and enraged cry of the dispossessed has been criminalized by judicial system that sees that as an incitement to violence and celebration of lawlessness the lyrics of amateur rappers is often interpreted by the judicial system as confessions of crimes threats of violence evidence of gang affiliation or revelations of criminal intent prosecutors have secured numerous convictions by presenting the lyrics and videos of rappers as de facto confessions of criminal activity this is led to aspiring young rappers serving lengthy prison sentences in the United States including the rapper mack who was convicted in 2001 of manslaughter after the prosecutor liberally quoted passages from his album shellshocked joining me to discuss what in essence is the criminalization of an art form is eric nielsen. The author of the rap on trial with Andrea Denise race lyrics and guilt in america so what you make a distinction in the book but tween the high profile rap artists that we know to bach and you know it who are pretty much left alone not completely right but but the the judicial system has really gone after amateur or local explain whats happened well thats right i mean there are some isolated digs examples of more high profile well known artists who have been caught in the cross or
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