And this is a boom bust the one business show you cant afford to miss branch aboard in washington coming up the corona virus has now taken hold around the world but to varying degrees we take a look at the globe and check in on the numbers as they stand now. Markets have seen one of the worst quarters in history of the outbreak in fact trading and has stalled International Growth and things are looking any better at the start of q 2 we bring you expert analysis on the issue. With the lions share of focus aimed at the pandemic trade issues may have fallen by the wayside we dig into the new details of trade and what lies ahead after the outbreak in a packed show today so lets go and die write it. And the United Nations on tuesday called for a large scale coordinated and comprehensive response to the corona virus pandemic while speaking about the intergovernmental organization. Plans u. N. Secretary general antonio terras said the world needs to come together to fight the spread of the virus. It is essential that developed countries immediately assist those less developed to bolster their Health Systems and their response capacity to stop to this mission. Otherwise face the nightmare and of the easy spreading like wildfire in the global solves as we need it is of this and the prospect of the disease of emerging when it was previously suppressed. And the secretary general also addressed the Economic Impact of the pandemic saying this could be the most challenging crisis in 75 years it is an Economic Impact that you bring a reception at reception that probably is no parallel in the recent past the gobi nation of the 2 facts and the reason that it contributes to the. Immense use of the. Same brass and complete seems to make us believe that this is indeed the most challenging crisis we have faced the 2nd war and this all comes as the International Monetary fund says we are in a global recession at least as bad as the last economic crisis mentioning the i. M. F. Expects a recovery in 2021 the total number of cases of crow virus around the world is quickly closing in on 1000000 and here in the United StatesPresident Donald Trump said modeling shows that between 10240000 people could die before this crisis is over now we want to take another global look at how countries around the world are being affected and for that were joined by our t. V. Correspondents are Tavenner Sayah thank you so much you know brian today were seeing a Record Number of deaths recorded in a single day in the u. S. As 865 people lost their lives to the disease now that number of deaths puts americas death toll to over 4309 moving over to europe the virus has now claimed more than 30000 lives and europe olan and what the head of the United Nations has the scribes of humanitys worst crisis since world war 2 and heres a graph that i want you to look at and may have them once they put that up for you that i want to go over with in terms of whats flattening out now here you see u. S. Spain and italy and you see all those cases are going up now the only story countries currently that are actually flattened out are japan south korea and china and look at the u. S. Spain italy you know those are actually just unique to those countries almost every other country around the world youre going to youre seeing you want to see cases going up but only these 3 countries you see some sort of numbers actually flattening out and not increasing so that is good news at the moment. Now can you give us a little bit of an update on some of these countries that maybe we didnt talk about recently and maybe are getting as much attention when it comes to the number of cases that theyre seeing. Lets go to south africa which is actually some of the toughest krone virus lockdown regulations in the world but in forcing them has not been easy you know right now Security Forces are actually firing rubber bullets at anyone defying orders to stay at home and that puts south africa the country more than 1300 reported cases with 55 deaths and then all that the number might appear low compared to some other countries its still the most in any other country in africa and that main issue is that authorities are worried that the virus could actually spread to the poor areas where would be almost impossible to provide proper medical attention and then there is jordan which has been under total lockdown since march 14th you know after just a few cases began to appear around the country the government took extraordinary measures including implementing very strict emergency laws where the Jordan Armed Forces and police were deployed to the patrol the kingdom streets and forcing very strict curfew and because of all these immediate measures jordan has about 274 confirmed cases and 5 deaths and thats very low compared to its neighbors like israel that has more than 5500 confirmed cases of which 22 deaths and then as saudi arabia would have over 700 confirmed cases and 16 deaths now bring you back to whats happening in latin america and the caribbean can you tell us about whats going on there well brand from mexico city to Port Au Prince all the way to santiago chile this is taking root in the worlds most on equal social class systems where the 1st cases a virus actually. Arrived by the wealthy returning from vacations or work from places like europe and the u. S. Where its now spread to the poor areas in the country but im like many of the well to you are recovering medical experts are really worried that the virus could kill thousands of the poorest people and im referring to the ones who must work every single day to feed their families living in such extreme conditions that they even lack clean water and power paramedic medical care for example in haiti the western hemispheres poorest country reported its 1st 2 cases of the virus on march 20th the 1st was actually brought into the country by haitis most successful r. And b. Singer who had just returned from france and is now currently and quarantined but for hundreds of thousands of haitians who earn just a few dollars a day of selling goods on the streets you know quarantine would mean a near like starvation and then there is chile which has seen cases grow to more than 3000 but most have been in the upper class neighborhoods in people just back again from europe particularly italy and then there is in mexico where Authorities Say at least 17 of the country has wealthiest people return after being infected during a ski trip to Vail Colorado which puts mexicos confirmed cases to over a 1200. 00 with 29. 00 deaths so brands although the u. S. Is leading the number of confirmed cases it might not take long before that spreads even further globally because just 6 weeks ago here in the u. S. The only had 60 cases so fascinating information will look for more updates from you so i dont thank you so much and as a reminder you can always find the latest news and information or regarding the coronavirus on portable t. V. s coronavirus track or r t correspondent side savage or thank you so much and following the worst quarter in decades equity markets are starting the 2nd quarter well theyre starting honest. So lets go ahead and bring in some of the expert analysis we love here on boom bust tobin smith c. E. O. Of Transformative Research joins us tobin thank you so much what are we seeing i mean the dow was down at times more than a 1000 points today and people are said were saying that we were at the bottom clearly thats not the case what are we seeing in the market today. Well what were seeing is its a 4 step process and you know people always automatically for the last basically 12 years 11 years you would buy the dip right we get a correction the market come down maybe 10 or 20 percent we buy that we be back up but were not in that world were in a world where we have not only a global recession that same time we didnt pour diesel fuel on the 2nd amik fire by having an energy you know complete war price war so now its cascading and were not done cascading as i think i told you before we went to the coverage at the end of january when were all in cash about february 15th with our subscribers and Money Management clients because we were getting information from our contacts around the world that china had completely under played how bad this was the number 2 that they completely under play how many people you know were traveling out of china and now we have this pandemic so it is too early to be a bit buyer we assume were going to test the that new low that we had you know call it 2120 to 50 range and then i think were going to burst through that because no one has any idea about how many bodies are going to be piled up and until we do really bend that curve its just like a stock you have to earn you know you have a price moving average we have a death moving average and an infection moving average and until that turns down. Its not safe to buy stocks and oh by the way the bankruptcies are just starting to hit and the in the earnings numbers will hit about 1520 days i mean now so what youre telling me here is youre expecting the same amount of market volatility in april as we saw in march and maybe moving into may and june as well. Yeah absolutely and all you have to do is read the vix the v. I. X. That shows the amount of fear in the market for lack of a better or simpler explanation and weve never had the vix not only go to 85 its average has been 16 but it was at 12 when we got into this but its not coming down and the reason why its not coming down is its projecting every day at work close today its projected that every day well have 5 percent volatility up or down and the issue is is that were going to have that volatility but the slope of that volatility is lower lows not you know lower highs and top and now what are the markets not pricing in at the moment what are the unknown variables that are left on the table as you talked about i mean the problem is its hard to see a response because we dont know where this is going we dont know where this ends we dont know where any of this happens so its hard to look its really hard to look for but its also hard to look at right now because you dont know whats real and whats not real i mean im otherwise i dont mean were out of our affairs. Right no i mean. Economic wise we just do models right because thats the only thing you can sort of do and were modeling about 30 to 40 percent unemployment for the Service Industries for certainly the month of april and probably may you know the great governor of florida decided today maybe were going to have a coronavirus problem well theyre going to have a pandemic down there like nobodys business secondarily we look at it cash flows and you know cash flows are dropping to 0 in businesses Small Businesses that its going to take 3 or 4 weeks for them to get the loan i just was on the talk with the s. B. A. Today and its going to take 3 to 4 weeks to get that money out and i just tell you as Service Businesses theyve got you know 1520. 00 days of cash so theres going to be an auto wreck there so i dont see the known knowns the only known knowns we know are that china clamped down a 25000000 people and they bent the curve we know that italy after going through all these problems lock down and they are starting to bend the curve we have done none of that we have we have been basically smoking our own dope thinking that somehow that you know what this is all go away and its the lame stream media thats pushing this thing thats turned out to be the biggest lie of the century and there are deaths of people that occurring every day today because our government ignored the problem and got way like you know korea had the same amount of people basically in new york city in the solar area they got up and testing in 10 days were the only country that didnt accept we rejected the World Health Organization testing kits because they were good enough for us and we will need them anyway so i mean when the history is written on this this is going to be the biggest government screw up in the history of screw ups and weve got a lot of screw ups. That for sure and sadly may be true the fed is now pulling out all the stops to support the economy what can you tell us about how theyre going to continually move this forward i mean it seems like theyve said weve got a bottomless checkbook and were ready to to continue to support it but how long can that go. Well it can go as long as they want because they literally remember if it was a church they said thats ok they push a button at the new york fed all of a sudden you know they create 10 1000000000. 00 or 10 trillion dollars its its just an Electronic Transfer right but the issue is not like the financial crisis where where we could solve the financial crisis by putting money in we have a Health Crisis we have Small Business crisis we have people who have you know in new york city are could be able to pay the rent they depend on 20000000000. 00 a year no excuse me a month in new york for taxes so this is the Ripple Effect and unless the fed is going to step up and start pumping 2500. 00 to 4000. 00 a month into 45000000. 00 people Checking Account it is going to get a lot worse before we hit a real bottom toben smith c. E. O. Of Transformative Research and sobering to hear you but thank you so much for giving us that insight need to hear baby. Ok time now for a quick break but hang here because when we return with the lions share of focus and aimed at the bank that make trade issues have fallen by the wayside straight ahead we dig into the new details of trade and what lies ahead right after the break and as we go to break here are those numbers that. In london Julian Assange is standing trial on whether he will be extradited to the u. S. To face espionage charges the stakes could not be higher songes libya even life is on the line freedom of speech is also on trial so you wouldnt know the mainstream media. Seems wrong. To shape out this day become agitated and engagement equals betrayal. When so many find themselves worlds apart. Just to look for common ground. It is now a time in america for the sort of the workers who are making minimum wage they cant survive they have to have 2 or 3 minimum wage jobs theyre rising up theyre going on strike. So one of the. The company 1000 play wont be much higher wages long overdue. And welcome back of a Trip Administration will defer us tariffs 1st most favored nations for 3 months says the white house attempts to mitigate the Economic Impact of the coronavirus pandemic according to multiple reports now the us had previously allowed exemptions for medical supply but these new exemptions will include some forms of apparel as well as light trucks according to the reports now the exemptions will not apply to the levy is put on 360 1000000000. 00 in chinese import ports which were enacted due to the trade war and i want to bring somebody in here to give us some insight on the impact of these tariffs exemptions and that would be professor Richard Wolfe host of economic update and author of understanding socialism now professor wolf weve talked about sanctions relief in the past year on the show with you how big of a deal is it to remove all of these economic barriers including tariffs when were dealing with this pandemic. It is like so much of the policy were watching way too little and way to rate it cannot make a significant difference the scale of our economic meltdown as do your previous guest made it very clear it is strong on what is being done now and so this is just a bigger action to take my suspicion and i hate to say theres if its done to look like youre doing something funny it is more theatrical and it is. Relative to. Our problems and now professor wolf what were also seeing as expected Manufacturing Activity basically grind to a halt throughout the world a series of purchasing Managers Index is surveys on wednesday showed steep declines in germany and japan for the month of march now the u. S. Was also down as well which was to be expected that youve been on the show saying that were already in this recession is this manufacturing actually going to be able to come back after the the pandemic is supposedly over or is this a new normal were going to see until well into 2021. Very very hard heres what we can be sure this is the worst economic downturn. That riyad had probably said its the Great Depression and if you just cut it at it and as. I think of it and. Yet. Is. It. Some hot Credit System and you know we asked to understand as to the cause it is still closed. And then again in response to this. Crisis of 2009 the Federal Reserve pumped huge amounts unpressured their money in this and dropped interest not close to what he says charitable what did was to give the every business large medium and small an excuse to cover all the weakness just cover over a band and. I did. At. The compressor well 4 or happiest were having a little trouble with professor wolfs connection as has been the case as we try to everybody tries to adhere to social distancing so what were going to do is bring back in our friend tobin smith who is still joining us from scottsdale arizona. There were some questions i was going to ask professor wolf and we can have you feel them for us as well and i think this is a big one here you know were looking at unemployment here in the u. S. As we talk about this economic downturn and theyre saying they expect you know 3500000 unemployment claims next week theyre saying it could get as high as 5500000 claims in a week what are you seeing here. Well were going to see more than that you know just do the math we have 155000000. 00 people in the workforce about 70 percent of that is in the service right so thats nearly 100000000 blue called 90000000 right. Of those businesses about 40 percent of them are large but 60 percent are small and when we put the economy into a coma here and theyre shut down yeah theyre going to try to get cash to them but were just way too late french is absolutely right all the stuff were doing now is sort of like the house is on fire then we produce a fuel on the fire and now were starting to you know were sit there water guns and try to tamp it down so its cascading effect theres this concept in economics which is about cascading stops or a cascading stop means is that once you hit one thing it sets off another thing which sets off another thing and we cant just stop that unless literally there was there was you know 25000. 00 i mean my payroll if i could make my payroll i would be 25000 dollars jumped in tomorrow if i didnt have savings or so and so forth right and theres a lot of coming so were underestimating this is what im trying to tell you absolutely. Transformative research thank you so much for hopping back in there to give us a little bit more expert analysis before the end of this segment thank you so much. Zoom the Popular Video conferencing platform is being slapped with a lawsuit allegations of zoom selling personal information to facebook and other 3rd parties has surface but its not zooms only issue at the moment our key correspondent toshs sweet has more on what other challenges the company is facing. As cases of coping 1900. People are working from home many are utilizing the Video Conferencing platform called 0. Students are using it to keep up with their classes and friends are staying in touch on it to keep a sense of community but now according to a lawsuit filed monday the zoom i. O. s app is sending data to facebook and 3rd parties according to the lawsuit the unique advertising identifier allows companies to target the user with advertisements this information is sent to facebook by zoom regardless of whether the user has an account with facebook zooms c. E. O. Has acknowledged its data sharing in a blog post and says theyre doing away with the practice erik un says our customers privacy is incredibly important to us and therefore we decided to remove the facebook s. T. K. In our apple base client and have reconfigured the feature so that users will still be able to log in with facebook via their browser the lawsuit also claims is soon was paid for sharing user data but according to zooms chief legal officer resume has never sold user data in the past and has no intention of selling users data Going Forward but privacy concerns arent the only thing plaguing the Video Conferencing company the f. B. I. Is warning zoom users about teleconferencing hijacking happening all across the country there have reportedly been multiple incidents of conferences also being distracted by pornographic images hate images and threatening language the agencys Boston Office is urging users to not make meetings public or sherie links to video conferences on social media as covert 19 has made an impact on the stock market zoom has actually seen positive gains as their popularity soars amid this pandemic while the s. And p. 500 stock index has dropped about 25 percent since its record high in february xoom stock has shot up 45 percent since then as investors believe this Video Conferencing trend will continue to be a corporate and social staple even after the crowd a virus gets under control to avoid having your information being sent to facebook assume users are being advised to update the latest version of the app. Cation reporting in los angeles just weeks r. T. And as major corporations retool factories amid the pandemic to make Health Care Products like ventilators face masks and Hand Sanitizer there is an opening for new products that can help slow the spread of the virus especially in tech for instance a seattle based startup slightly robot previously developed a respond that buzzes when it comes near your face now it was initially the im you touch was created to stop people from compulsive nail biting hair pulling and face picking the company is now pitching the product as a way to avoid face touching something Health Care Officials have warned against due to the incredibly contagious corona virus meanwhile a professor at the university of hawaii has also designed app that will work with your fitbit watch that works in a similar fashion the product vibrates what it does your hand comes near your face this product has a creative name how the pain no because as the designer puts it quote its supposed to be like you having how opinio juice on your hands you dont want to touch your face or nose and thats it for this time you can catch boom bust on demand on the brand new portable t. V. App available on smartphones through google play and the Apple App Store by searching portable t. V. Or streamers to your t. V. By downloading the portable t. V. App on apple t. V. And online a portable dot t. V. And you can also find the coronavirus tracker on the portable t. V. App where you can get the latest news and information about spread the virus as always check us out on you tube dot com slash poobah starkey the next. I cant show you my face but im going to teach you must story in 9093 this man was sentenced to death. They could charged with capital murder even though he didnt have the gun didnt pull the trigger didnt intend to kill anybody imagine living in your bathroom for that week with just under 23 hours. To be. Confined within 4 grey walls fuck its using. All to help him to leave this room. And. The world is driven by dreamers shaped by one person those. Military thinks. We dare to ask. This of let me. Ask i wouldnt. Take i could. Not. To show more than. Can you love clue me in on the. Stand to make it a secret is dont want to tell. You what you have over the kook on the standards of the out now as you. Know wonderful people. I knew of the. Much of the sinister and i think. Tied to using to do. One thing with your house. Parties Headline News this thursday april the 2nd europe tempers fray pharmacy workers in france report abuse while over it to leave Food Supplies and Economic Hardship push people to the. Things dont change see people keep losing their jobs remain long term were risking a crisis much worse than anything before internal squabbling stalls much needed financial help for struggling countries like italy to weather the economic fallout with members are uneasy at sharing the pandemic and jews dead. Thats coming up to the pentagon and tries to source around 100000. 00. And make sure to choose and over run facilities in the u. S. Where the number