Transcripts For RT Boom Bust 20240713

Testing out diet testing out exercise and try and figure out things on their own. This is boom bust the one business show you cant afford to miss. In washington coming up oil markets try to stabilize ahead of an upcoming meeting between some of the Worlds Largest Oil Producers looking to put a stop to plunging prices how much hope action slowdown coronavirus and actions will talk to our panel about reopening the economy and when that could actually happen the Grocery Store that may be stocked but countries across the world especially spain are worried about what will happen to growing crops and the need for Migrant Workers we have a packed show for you today for the lets go and write it. Now we begin with our daily coronavirus update the Global Pandemic now nearly 87000. 00 deaths and more than. 1. 4000000 and factions on tuesday President Trump slammed the World Health Organization even threatened to withhold funding from the institution he said the organization is very china centric. W. H. O. Thats World Health Organization. Receives their estimates of money from the United States. And. We pay for a majority the biggest portion of their money. And they actually criticized and disagreed with my travel ban at the time i did it and they were wrong theyve been wrong about a lot of things. And that a lot of information early on they didnt want to do very they seem to be very china centric. And we have to look into that so were going to look into it with Chinese Foreign ministry responded to trumps comments by defending the United Nations health agency. China will as always firmly support the work of the w. H. O. And support the w. H. O. To continue to play a leading role in Global Cooperation in the fight against the epidemic amid the current debate demick the United States has indicated that it will suspend funds to do. This will have a negative impact on International Cooperation in fighting the epidemic we hope that all countries will hope and support each other and jointly contribute to the global fight against the epidemic. Now lets take a look at some of the numbers here a global level the United States it remains a country with the largest number of confirmed cases with 404000 the death toll now at nearly 14000 and even though experts are now saying that the model is changing and it predicts even fewer extreme cases the death toll is expected to reach about 82000 by august another hot spot which is italy which of also the 2nd largest number of deaths with more than 17000 and the early 140000 cases spain just behind italy of the countrys crisis has accelerated even with a lower number of new infections space spains the death toll actually surpassed the 14500. 00 now lets look at some of the worlds safe for a spot well thats for now at least while taiwan a country. So close to china has managed to control the spread of the coven 19 the island just east of the mainland has some experience in dealing with these sort of crises given that it was among the worst hit territories during the sars outbreak in 2003 taiwan has just under 400. 00 cases and vietnam has under 300. 00 cases and some south american countries argentina colombia and venezuela all reported hundreds of cases each now over to the United States where new york its still the countrys up a center now although the state is reporting fewer new cases it did see a surge in its death toll with the biggest jump on tuesday since the start of the outbreak the states death toll now at nearly 5500. 00 and michigan and illinois also hotspots in the United States it could they could eventually become the next epicenters louisiana where 26 percent of all tests have come back positive has more than 16000 confirmed cases and finally lets look at some states with some lower spread of the virus starting with wyoming with just over 200 cases new mexico has less than 1000 and West Virginia which was one of the last states to even report a single case has nearly 500 infections well governors across the United States are actually seeing a possible lot of this curve thats in the latest data but for more numbers and information on the coronavirus be sure to check are our portable dot tv up and look for the section tracking coronavirus but for Market Analysis and impact that we continue to see well bring in the best cohost Christine Christine how are the markets today. Well sarah world equity markets move higher as or oil prices stabilize on wednesday right ahead of the meeting between russia and saudi arabia in the hope that there was soon be a resolution to the month long price war w t i started as much as 12 percent in the last hour of trading leaving the rest of the in that piece about 3 percent the 2 oil giant producers have agreed to deep cuts but only if the us and several others join in with the curbs in order to help prop up prices however in an attempt to have its cake and eat to the us responded that the us output had already fallen by 2000000 Barrels Per Day without any Government Action and it will not intervene into the private market obviously that didnt fly as russia responded that Market Driven declines in oil should not be considered as cut intended to stabilize the market they said that quote these cuts are completely different cuts its like comparing a length and wit so theres a lot of expectation and optimism leading into the call thursday which will be followed by g 20 Energy Ministers meeting on friday where countries are called upon to lead a coordinated action in order to stabilize oil and the stocks pressured by the corona Virus Outbreak led the market higher today with airlines gaining about 4 percent and casino names advancing 3 percent many investors believe that were still in the early innings of downward e. T. S. Emissions Market Conditions can remain choppy for the next few months the demi tail also published a piece wednesday where it doesnt see a recovery in global trade until 2021 and weve lived an age of globalization and trade for more than a decade now but that has quickly ended the pen demick has exposed the false promises and realities of these quote International Alliances and supply chains so as trade barriers come up supply chains were broken and every single country is obsessed with how to ban certain exports and hoard protective equipment and ventilators for their own citizens the u. S. Banned Companies Like 3 m. The maker of asks from overseas sales india and her band exports of hydroxy couric when which has been touted by President Trump as being effective and battle battling cold in 1009 though the latter has since been relaxed after come threatened with retaliation. Protectionism is the new way that acetylene as travel and tourism are going to be highly monitor Going Forward the expects trade to fall between 13 and 32 percent in 2020 as a means for International Cooperation for sustain inclusive recovery but the big question remains who is listening and who will lead the International Cooperative efforts will most cohost christi i thank you for that work now for more we bring in host of economic day and author of understanding socialism professor Richard Wolfe and c. E. O. Of transform Many Research tobin smith gentleman thank you for joining me today. Lou lets start with with you tobin i want to ask you this now mcdonalds global same store sales dropped about 22 percent just in the month of march this is a global chain that always does well even during a recession this is because of the cheap prices toben what is it is it even fair to use this as a measure of where our economy is actually heading. Well you know it actually is i mean its food its somewhat discretionary but you know they have dried up and i will tell you all over the world other garbage in a mcdonalds on every i certainly every continent you get a lot of value for what you know you pay you know you lira or drone or drugs more or whatever and youre going to see them drop off another another 20 percent because we didnt have the lockdowns going at the time that the they reported it so i use it as a barometer of retail but you know the question is have we priced that into the market and i think what were seeing a little bit here is people are are taking a deep breath theyre looking out 691218 months and saying man if i could buy mcdonalds for half the price it was you know 3. 00 weeks ago maybe its time to buy it maybe but i mean it does offer of more Healthy Options now adays and it is expected to do a lot worse in april but well see if that actually what happens to the fast food chain. Professor wealth let me ask you this there are some preliminary signs that infections are slowing down they have helped the market obviously officials must still have to cautiously plan on how and when theyre actually going to reopen americas 22 trillion dollar economy now everyone is hopeful to get back to business as soon as possible President Trump saying that hopefully its by may now but there are a host of Unanswered Questions when the stay at home orders watch lee will it be left and how will people at work be monitored how are we going to limit the people of crowding for example a theatre or a stadium what do you think well see. Well i think it pretty a lot of 2nd guessing is going on dont most of it is going to be disappointing this is a very serious virus we do not know even if we didnt catch it and a little bit in approaching whether it will come back whether the current strange or mute so that the very best is good and the little solutions we find will be out of date almost as fast as we wind up so theres a lot of driving the market the uk but its mostly aged on why theyre all speculation not grounded in any current over. Science at all and use the dimension well document. If scheme were to come back to the situation that is safe thats the see big issue right now. Well dr fauci has said that things may there will be possibly a new normal he said time and time again that this could be cyclical that the solution here is a vaccine but then there are also those concerns that the vaccine may come out too quickly mutate into another type of a virus i mean we dont know if theres not enough testing but i guess i will have to to see where where this goes from here because again like youre saying there is no timeline to this but i want to ask you this professor what do you see a global trade ever getting back to previous highs i mean the u. S. China trade deal phase one was signed in and of last year but what new lessons are we learning from this as companies are going to be focused on being more local and domestic to minimize the supply chain disruptions. I think the issue is going to be very political are we going to go back to a new internationalism what you call little ization already thing else or is what the trumpet millis creation has initiated a really nationalist in richards every country for it sounds and every body place in chips that they cant manipulate for their own of. Course wanted to get their commitment that we did have the International Order to destroy or still if we go back to nationalism now in the late stage all bets are off all supply chains have to be reorganized the tension difficult which may be difficult to say. Are going to be difficult if we have the kind of time just shouldnt it is represented by the direction taken by mr trump tobin i want to get one last question for you have we actually reached a peak of it is this optimism that seems to be going on right now as coronavirus seems to be flattening a little bit as weve seen in the last couple of days with the new york city whats going on here. Well remember markets look forward and they typically look forward 12 to 18 months what happens in this recession that we have in this bear market is that nobody was willing to look out for a while 12 to 18 months because no one literally had any were going to idea about what is going to look like were starting to get some contours of what its going to look like and i my advice to your viewers always is as an investor is pretend youre in a time machine close your eyes and now youre in the spring of next year what companies are going to be thriving and what companies are not this is where stock picking actually works quite well we we work of this letter subscribers and run money and i will tell you weve made a ridiculous amount of money in the last 23 weeks by not panicking and by buying things that are 90 percent off sale that if you close your eyes and think a year and a half theyre going to be right back to where they were so panic never get makes any money panic just lose your body and what we saw in that you know 35 percent drop off in essentially 6 trading days that was pure panic that was for selling that was margin calls it was every horrible thing that could ever happen out of esther and now people are excelling a little bit remember new york city is the center of all this and all the bad stuff was happening in new york city and and in new jersey where all the traders live so there was a lot of emotion panic that cause that now the dust is settling a little bit and now we have to look out to next year because if you look at the next tomorrow i could be able to make a good decision well theyre trying to look like President Trump is trying to look for the next month right i mean he extended the lockdown until at least april 30th at 1st it was nationally only 15 days and it will take some time because we know that each month Major Economies spend in lock down it knocks about 2 percent of their annual growth this is according to c. D. C. Which is they have the Global Markets have seen the largest biggest monthly drops on record so this is definitely going to affect global economies like you said maybe up to a year economics professor Richard Wolfe and tobin smith c. E. O. Of transforming. Search thank you so much for your time. Time now for a quick break but hang here because when we return virtual meet up company doom is back in the spotlight and this time in court over claims that the company overstated just how secure the Software Actually is and as we go to break here the numbers of the flow. This is a story of women women with troubled histories and complex cold cases you know some of those deadly leave all who lives out there but where not to believe the person that theyre accusing this is even though you are considered the most dangerous of criminals shes in a still. All the last 23 hours of the day tell me that its not enough punishment it will do for women on death row. City i cant take it. When i dont been in faeces know. Inside and i dont know yet but i mean dont. Learn the missing mom of peace weve got to me im a strong. Family dont set some emotions. Thats. Very uncertain. Welcome the baby had a fever of 38 so point 30 were hoping thats. All ok. Here on boom bust weve discussed all the many sectors that have been hit hard by the krona virus from tack to manufacturing of goods and autos well what about the Food Supply Chain well some say it will not be disrupted spanish farmers and fishermen are feeling some sort of impact from the cove in 1000 pandemic well for more we bring in our correspondent Nicholas Sanchez odonovan nic good to see you now i want to start by looking at the overall data in spain we mentioned a little bit its just behind italy as a pretty bad situation in europe tell us more. Thats right sara hugh mentioned the stats earlier and they are devastating nearly 15000. 00 total deaths and almost 150000 infected just in the last 24 hours 757 people died from corona virus in spain and as the pen demick spreads the economic consequences a deepened in some studies show the country losing up to 9 percent of its g. D. P. Due to coronavirus and unemployment is rapidly growing seen spain went into lockdown on march 14th a record 900000 people have filed for Unemployment Benefits with those numbers in mind and the Health Care System literally been stretched to the limit the only piece of good news would be that products are making it to supermarkets and people are being able to find the goods they need well or spain doesnt seem to be adding a problem with the supply chain then especially that their shelves are fully stocked including things like toilet paper which is like all of here in the United States right. Exactly i received some video footage today from a Family Member in spain that images show completely stocked shelves included yes toilet paper and all sorts of perishables as well such as fruits vegetables and chicken meat fish but that could actually change in the near future as farmers struggle to find the workers to harvest the fields listen spain is especially vulnerable to this crisis for many reasons one of them being that its economy heavily relies on temporary workers mainly in fields and farms now closed borders mean that a very important chunk of those workers that come from countries such as morocco remaining or poland wont be able to work the spanish field so farmers and specially farmers in Southern Spain a warnin that if they arent able to find the work force they need. Some goods could end up going to waste and never make it to the shelves and this will affect not only spanish consumers but e. U. Countries that heavily rely on spanish fruits and vegetables well theres there seems to be then over the problem here of this oversupply of food in spain that wont reach the your other European Countries especially as such a large exporter or what is the government actually doing or are they doing anything to help with this. Thats a good question sara well specifically to help farmers the government is implementing a plan to allow the hiring of people even if these people are already receiving Unemployment Benefits migrants without the proper work permits will also be able to work the fields in spain in addition the Spanish Government has announced a 200000000000 euro aid package to reduce the impact of the virus on its economy but that wont be enough and thats why the countries ask in the e. U. To issue the socalled corona boylans weve all heard about these corona bombs what they do well actually what they do is they share their financial burden caused by 19 across all Member States but of course as always in europe this is a tale of north versus south and countries such as germany or the netherlands argue against that type of move meanwhile spanish president Pedro Sanchez is asked his european counterparts for solidarity and said that europe must establish a wartime economy to strengthen resistance and promote the reconstruction and recovery of europes era thats right thats the struggle between finance ministers at those khurana bonds they cant reach a deal yet r t correspondent Nicholas Sanchez odonovan thank you so much. Weve got. Big problems for is in communications as a company is now facing a lawsuit over privacy and has been all out banned in one country where we have been closely. Following the story for several weeks now as you know has 1st gained much praise and then much scrutiny as millions of people and companies have turned to the life streaming service during this krone fire shutdown will now assume its facing a lawsuit from one of its own shareholders thats right the Class Action Lawsuit accuses a Video Conferencing app of overstating its privacy standards and failing to disclose that its service was not and to end encrypted well joining us now is a study thats cohost an investigative journalist and so on then weve talked about them before a few times actually just this week just how big of a deal is this claim that it was privacy was a whole point of using zoom over another app like skype for instance zoom was encrypted thats what everyone said about it privacy was very important to zoom now it turns out as as the intercept 1st reported that in fact its not in the indian crypt it is in fact some of these calls or actually routed through china so what we know is that zoom did overstate its popular its privacy but it became increasingly popular i mean consider the fact that in december zoom had about 10000000 people using that service in march they had about 200000000 people so theres been a lot of scrutiny its a huge increase well especially nowadays because it does hold and allow for more people to join but but then meanwhile theres taiwans government who is now officially banned its agency from using their citing the privacy concerns and they are advising that Government Agencies to use it seems competitor. Yeah they are they in fact there is a crazy thought of this taiwan and the government of taiwan is telling all of its state agencies to not use zoom and instead use google or microsoft as an alternative i mean how is google and microsoft a better alternative thats how severe of the concerns are about zune communications not only against the in the in the corruption but are they routing calls to china and is that are being shared with the Chinese Government thats what the government of taiwan is concerned about and then there are other governments as well the Australian Government has told its Defense Ministry and all of its agencies dont use zoom for your calls and as you mentioned earlier this week new York City Schools will no longer allows them to be used and thats because of the zoom bombing issue where people are able to hack into and then jump on to calls from there uninvited so theres a lot of problems here but when governments start to move away from you its a sign that they simply do not trust that you have security features in place i mean 1st its one thing for businesses to run away from you but now governments thats right thats the big news here out of bennett left i want to ask what has all of this bad news meant for us in stock well its been nothing but bad i will give you some numbers here the Company Shares closed down about 7. 5 percent that happened on tuesday at about 113. 00 they have lost nearly a 3rd of their market value since they hit record highs in march so in march they were hitting record highs theyve lost a 3rd of that value already and as governments move away and as School Districts move away you should expect to see those numbers continue to drop there well and im sure did not expect it to become as popular as it has i mean nobody could have could have foreseen or predicted that we were going to enter this lockdown where they would refer to this that boom bust cohost events on you so much just you got to tell the truth thats right. The chrono virus is making people think outside the box and perhaps become more innovative and following new social distancing rules well you remember when china was desperate and using buckets for grocery delivery especially to high floors that is well thailand is taking innovation to a whole nother level hospitals are using the pinto robot to deliver items to infectious patients now the Battery Powered motor actually includes a screen for medical staff to talk to people while keeping social distance engineers from Startup Companies teamed up with students at Chulalongkorn University to help doctors and a country thats facing a shortage of masks and protective suits well the. Number to trial if doctors are soldiers and what uniforms were making weapons for them are weapons cant defeat the virus but they can protect doctors from the disease keeping them a distance from it the team is already working on other types of more sophisticated robots for a future use but the pinto is already making a difference well thats it for this time you can catch boom bust on the man on the brand new portable t. V. Out of jail on smartphones to play on the Apple App Store by searching t. V. Or stream us on your t. V. By downloading the portable t. V. App on apple t. V. And online a parable that he has always talked about on youtube dot com classroom but starting next time. During this crisis the question us always ben and jay powell over there is Federal Reserve and other central bankers and flavor reflate are pumped up. Quick enough to mercks any downdraft in the stock market i know economically thats got a lot of problems associated with that but thats the big question. She teaches. Welcoming all of us from around the world live from Central London this is not a u. K. 765 people die from coronavirus in england the moon is minister. Is likely to be extended to be old and this weekend says the Prime Minister remains in intensive care at all but joined by a medical expert. Economic experts warn the world could be heading for a crisis worse than the Great Depression almost a century ago. Is highly visible crime in stopping continue to fall due to the low down socalled invisible crime Domestic Abuse and online for water skyrocket. Every form of school for government aid a collapse in the market leads to millions of beaches of milk being pulled away every week we hear from a dairy farm and they say. It. And it has england report 765. 00 coronavirus deaths in the past 24 hours bringing the reported total to 7981. 00 says ministers who took the nation wide lockdown will continue past this weekend or take a shot it was dusty joins me now with the latest so shut the hell than all of these figures looking to tell us more about the the latest release of data well we have just seen and received the latest figures and the total number of deaths across the United Kingdom now stands at 7981. 00 although Northern Ireland havent yet released their figures that does include though a total rise of 765. 00 in england alone which is actually less than yesterdays total but although the curve is flatlining slightly we are no means past the peak which turns all eyes now to the lockdown measures now the official line is a final decision will be made early next week but if you listen quite closely to the language and rhetoric coming from those heads of state standing in place for the Prime Minister Boris Johnson well then it seems like its highly likely if not indeed almost set in stone that we could see an extension from next week youll also remember of course Boris Johnson on march the 23rd addressing the nation announcing these lockdown measures and what he also said at the time was a guarantee would be put in place to review this policy within a 3 week period of course that of course brings us to next week at the time though there were a lot of raised eyebrows particularly from medical experts and science experts suggesting that within this 21 day period not enough progress would have been made with some even going to the extreme to say we could be looking well into may before these measures are lifted at all now wells is one step ahead of the United Kingdom or in all of this already suggesting that there would be no extension next there would be no limit to these policies next week and thats something the government too will follow suit with it seems. Respective wales they have decided to make that announcement yesterday weve always said we review on the 3 week basis not thats exactly what well do now it comes as jeremy hunt who is the chair of the Health Select committee has suggested these measures could continue for at least another month on the plus side though it doesnt really seem like theres much of an appetite in government to really ramp up these policies and tighten needs policies of course if you look across europe at their ears are the models when they have extended weve also seen a heightened measures being threatened place like curfews and indeed heightened penalties for those people that are flouting these lockdown measures a lot of it well right on though here in the United Kingdom what happens how the public will respond this weekend of course it is the Easter Bank Holiday weekend and we are expecting to see quite good weather there last weekend where there was good weather we saw many people taking to parks and flouting the lockdown measures so really a lot could ride on what happens over the next few days as i mentioned though regardless of the weather situation well it has already gone a step further to say that it will be extending the measures again the devolved nation is following suit particularly scotland and Northern Ireland and weve had from nicholas sturgeon the 1st minister of scotland who says its highly likely almost a certainty that they will be to. Be clear i dont want you know just being released but a single minute longer than they have to be but equally i do what is tribute surely you know we did see the brightest and sure here in egypt judge who will. Last which you wait and talk with that we stick with it for as long as necessary now would be clear to people is theres a lot of media situation that is now weekly to prospects all these measures being lifted after the easter weekend. Well all of this comes as the Prime Minister Boris Johnson spends a 3rd night in intensive care at cent Thomas Hospital here in Central London the latest though from downing street via his medical professionals on his ward suggest and say that his health is improving his condition is stable hes sitting upright and also engaging positively with the Clinical Team around him in dealing with him but it really does seem like Boris Johnsons fight against this virus really embodied in captain encapsulates what the country is also going through. Shadier thank you very much indeed for that school for more on the pandemic im joined by medical expert professor paul hunter professor want to thank you for being with us. Now were hearing that 50 percent of coronavirus cases that go to intensive care in those particular who end up in ventilators dont actually make it can you shed some light on that for us. Well thats to be experience that were having in the u. K. The. Intensive Care National audit and Research Center is publishing this notes are all are i think a weekly basis and certainly its the case as you say thats about half the people that have actually completed intensive care at the moment. Absolutely fails to survive. Their main change because there are still a lot of people in intensive care and of just gone even recently but it is still a lot of very good prognosis is not receiving top clear ass treatment from our brilliant professionals even people are dying while receiving this sort of treatment just makes us realize how deadly this this viruses are absolutely if you get to the point where you are requiring that degree of treatment and the outcome is quite poor and i think youve got to look as well at the fact that it is not necessarily the people most at risk of dying that are actually going on on to and thats the average age of people being admitted to intensive care in the recent court was still only about 60 years old so. You know it is it is not the be the age groups that are most at risk that are tending to be to be being treated just how well do you think the country is prepared for this now because there are some suggestions that we could be the worst affected in europe let me look at the figures in spain and italy that is seriously worrying it is yes and though those figures come from the. Group called the institute of Health Metrics in seattle they were predicting very high numbers of deaths in the u. K. Im not sure that theyre right unfortunately. You know we will have to wait to see who is right on this but it sir. Only is not something that we can assume that we will get away lightly and. It may well be very well but we will have to wait and look at the figures were considering to look at some sort of glimmer of hope and the death figures are up of course but the curve were told seems to be flattening that there is perhaps a light at the end of the tunnel well yes i mean youve always got to be careful about when you start saying that because what generally happens is the next day things cope get a lot worse and you look you look as though you didnt really know what was going on but certainly over a number of days the new cases have gone up and down a bit but that sort there is the impression that beginning. Level out and and hopefully we will. In the next few days be a lot clearer about that. But its certainly beginning to look as though its its leveling out and it actually should be leveling out now with with what you know what were doing in the u. K. I know there are talks about the people not not respecting of the safety and still carrying on but by and large as the fire the evidence is that weve actually. Done our best to stick to this and i think that is beginning to reflect right in the sense that just finally it seems the lockdown could be working by now but how long do you think with need to continue to were really really sure the threat is over theres a lot of pressure in your press on the government talking about your exit strategies when the lockdowns over but weve got to be realistic about this yeah i mean i i personally cant see this. Ending really until were well into may possibly even in early june. By then hopefully well be able to relax whether we it would be a certain relaxation of everything or whether we would start sort of gradually relaxing maybe more encouraging more people to return to work maybe then opening schools and nurseries. But i think itll still be a while before we have that the large social gatherings but we doubt the love in this country professor paul hunter thank you very much indeed for being with us live on our ship a very interesting to talk to you thank you. Reports say that n. H. S. Staff are being threatened with the sack if they speak about their experience dealing with the virus and investigation found that many n. H. S. Hospitals are clamping down on doctors speaking publicly about their work is sort of the policy is designed to prevent public scaremongering but many doctors and nurses are concerned that they wont be able to share Vital Information for those reports of hospitals issuing gagging orders against n. H. S. Staff who complain about the shortage of personal protective equipment. When only i spoke to a former n. H. S. Trust chairman roy lilley he thinks the whole situation could have been handled differently. I understand absolutely how this is happened the staff ritually i think were frightened straight at the fact that they werent getting the personal protective equipment that they said they needed the government response was to say result the why i say did arrive and there was a clear conflict between what the government was saying and what was happening on the ground so what happened i mean you know star for a now all our staff are grown up in the social media era they took to twitter they took to bill may said to be well look this is whats going on and thats how we got a photograph of some nurses wearing bin liners instead of proper protective equipment and its age the reality i think of working to diet to trust approach to this is very silly ari when i was running a trust which is some years ago now when i used to say to my people look if you want to go to the press go to the press that come to me 1st because you may not have all the picture and i may not have all the picture myself so this is really about Good Management good leadership and trust. Of creating an environment of trust. The World Trade Organization is one of an economic downturn and a similar scale to the Great Depression of the 1930 s. Some of the more positive for can suggest that the Global Economy could decrease by 13 percent but that is still larger than what was experienced in the credit crunch over a decade ago others have predicted a bleak a future suggesting it could trink by a staggering 32 percent meanwhile the case economy is also predicted to shrink but economists have said the g. D. P. Was already in decline before the pandemic dropping by point one percent but the services in construction sectors flat lined after breaks in the general secretary of the trade union body said that the government needs to implement 8 recoveries strategy. Well discuss how covert 19 will affect the economy ill be joined by a senior lecturer in economics in the next hour. Well lets have a look at the figures now across the world as they stand there over one of the hoff 1000000 cases now according to Johns Hopkins university is track almost 90000. 00 have died and over 330000 have recovered the worst affected the United States spain italy and germany. Still to come this hour. British dairy farmer has called for Government Support during lock down as the market faces a collapse will be speaking to a Dairy Farmers shortly. And as crime rates for overall this result of the down the rewards of an explosion in invisible crime such as domestic violence. With the corona virus now with fish weve declared a pen demick the world faces the additional burden of an Oil Market Collapse this comes at a time when demand for crude was already down some per calling this the ultimate perfect storm how this whole. Experience. I dont trust medical authority at all ever and the reason for that is i had this horrible autoimmune disorder growing up and it turns out it was completely alleviated with very drastic dietary measures and i went to a number of doctors to discuss what happened to me and i was basically laughed at like diet has nothing to do with our meanness orders so my suggestion to people who have Health Issues they cant figure out if theyre going to see a medical professional and theyve been going for 10 years and theyre still in the same place and they should probably take it upon themselves to Start Testing things out testing out diet testing out exercise and try and figure out things on their own. The. Street crime and stuff things the ripples crimes behind closed doors are on the rise seemingly totally unchecked. Knocked down london the city that is or at least was the knife crime capital of the u. K. Before the corona virus crisis hit before cope with 19 knife attacks were very epidemic plaguing or thirtys and those in charge openly admitted that they were struggling to contain it were going to treat knife crime like an infection were going to struggle to treat the infection coronavirus was the game changer new powers for the police to enforce the u. K. Wide lockdown and most families confined to their homes meant that highly visible problems simply melted away theres been a massive forward in Violent Crime 40 percent in some parts of the country one of the largest forces the West Midlands had a 41 percent drop in Serious Violence and 39 percent reduction in knife crime compared to last year overall crime is down in cleveland sorry Sussex Durham and cambridge are said right from the beginning of this it will be really interesting doing details in our system all the crime figures across the whole lot down period because effectively what we go is a massive social experiment in terms of closing down all the pubs and clubs and basically closing down public space the people arent socializing in public space and thats bound to have an impact in relation to Violent Crime i suspect a very large chunk of it is related to the closure of pubs and clubs which every where every night now certainly every friday saturday night are just a hotbed of violence one way or another for the police to deal with but as these very visible stabbings them burglaries reduce invisible crime much like the invisible virus is taking hold in some very different parts of society so many people stuck indoors campaign this fear that the message dick abuse and violence against children are both skyrocketing the national Domestic Abuse helpline has seen a 25 percent increase in calls and online. Requests for help since the lockdown receiving hundreds more calls last week compared to 2 weeks earlier what experts warn the restrictions dont just run public system to be use they also cut off escape routes for Vulnerable People sadly the predictions are coming to fruition that in fact when men are in a very very dangerous situation of women and children within the home small the never before we have a combination of fact i mean we have already met who are violent and abusive and coercive within the home that success based change by the problem of kind of it 19 but isolation doesnt just make people a potential threat to others there are concerns that its also huling a Mental Health crisis as some struggle with loneliness and the anxiety of trying to pay the rent or feed their children anecdotally were getting from members theres the start slight increase forward looking if we could sing its the circuit these. Structures in place there is a risk that mental Health Issues will increase over the coming weeks and months its going to be absolutely vital that we keep an eye on the very early indications of an increase in suicide sent in suicides. And thats thats a real trend because early indications of theres also another type of crime on the rise behind closed doors online fraud from fake coronavirus treatments to con artists impersonating banks offering government bailout cash or even demanding payment for breaking knock down the stretch and and more people who wouldnt normally be using the internet for shopping chatting i dont feel they should are now at risk the lock down certainly provides opportunities for new types of fraud whether well see a huge amount of increase in fraud. Is another. If people are going door to door then theyre going to be very obvious in a lockdown situation so theyre going to be at risk of being seen by the police if theyre called to the area its a suspicious behavior so while it might all look much more peaceful out here indoors the u. K. Sitting on a potential time bomb of abuse and suffering and the longer the lockdown last with the government able to give any idea of an end date the worse its likely to get and the kind of crime of only visible to the victim it seems to scare will only become apparent but its far too late the sally of the u. K. The. Dairy farmers are calling on the government to reimburse them as milk demand plunges in the wake of the pandemic they say the closure of restaurants and cafes during the lock down is contributing to a collapse in the milk market 5000000 liters a week of being poured away as the usual demand from the Food Service Sector grinds to hold their own association of british Dairy Farmers urges the government to compensate badly affected Dairy Farmers for their losses chairman peter alva says that the scheme will also help to protect the milk market in the long term. The scheme will ensure both short term and longer term Food Security in ease the stress on the industry removing the excess distressed milk from the marketplace will help to stabilize the current spot price without causing long term market distortion it will also allow those affected Dairy Farmers to continue to pay for invoices for farm inputs to the wider local rural supply industry beyond the farm gate and will prevent extra cows being called which will exacerbate the problem in the beef supply chain. Well to discuss this in more detail dairy farmer Paul Tompkins joins me now paul thank you for being with us your gold welcome welcome to you look thank you now youd think that so many people are home now enjoying a lockdown libby drinking at least as much milk they are you know everyone enjoys milk d Dairy Products are getting from the milk in our teas and coffees cheese sandwiches and on top without the eggs without its great but the truth is that we both enjoy eating food in home and outs of even as we all know restaurants kept a hotel those all close now those Dairy Farmers that work the buying back end of the market simply found that milk but outside. Bought supermarkets are saying that sales are up and of course significantly arent you getting a slice of that. Its true to say this has been a slight so the last report around the fight the cent increase in sales in the dairy sector. The difficulty is the problems of moving milk that was destined to food service into supermarkets and i think the processes and retailers really do have to do more to try and try and do that but the the truth of the matter raids that we enjoyed a lot of the Dairy Products outside eating out of. Our you poor thing the way milk that you have made i want to sell im really fortunate here on my farm that my milk by has been able to find an extra home some of the milk the ip chiefs has meant the approach i receive a price cuts its now costing me more its of produce every liter of milk and im able to sell it but fortunately im not in the place where other my other colleagues are at the moment which is boring some of them but why did have to port away i mean shorty kind of gets a cheese maker is your gut make is what well it seems such a waste is it really necessary to pour down the drain all this holiday that goes into producing milk i can assure you that the very very last thing any dairy farmer wants to do is pull that milk away we spend a lot of time to see this great you purchased product fortune they the way the industry is structured is that we only have so much Processing Capacity you only have so much dana still thats able to produce cheats ice cream out of milk out of the other things that we enjoy and those are working flat out those actually its a working flat out right now we concept we just produce more open items so the problem is that access in one area but the other area unable to think with any more once the low down do you have hope that the industry will recover are you concerned about the long term impact on the industry at office. Just a short time of being its been such a short period that the industrys been affected of course my cows. Back in to eat produce as much milk today as they did last week and next week and this time in however many months time im when we come out of this situation so whats really key its the Dairy Farmers whats to be pods of the measures that we have in place to kick start our economy again once we come through cape at 90 when out of the easy to reach. For its attractions but if 2 sets it wants to be it was who provides all those key concrete needs to get its not really want to me again its what we need to do is ensure that in that but this very sure that we that we have mechanisms in place that mean that we can continue to produce food so that when the uplift comes were right behind this part of the recovery but just finally we know the Government Supporting many hit business is on the eve must be getting support from deafer only. Unfortunately not so big the package of measures was unprecedented that weve seen but each of the. Areas of the economy. Im not i would be unable to access and indeed the mill processes so far have been unable to access so what wed really like to see is the hospitality grants for example wed like to see that extended to dairy farm its also things like the Business Interruption loan so this is a way that i could borrow money in the short term interest free but many other pups and hotels and things are able to do so so that i can get through this day my bills continue to be in the shorts and then also we can look at other issues that are available you commentator mentioned before there have been examples in europe before of intervention buying so this is what some governments around europe can indeed buy things like milk powder in order to sell today helps the states shock that has happened so the dairy sector see it seems that your surviving on a knife edge but of course many of your fellow farmers aunts whats the future of some of those herds the course of being built up over many generations many family farms we see the demise of dairy farms in general. That bitch dairy runs throughout the bombing runs throughout but bloods and my main concern is that we could undermine our ability to prove it produce enough milk for everyones consumption and what we need to see Going Forward i think book that 19th thats talked to sperry well is that we need a really good strong domestic supply of food and anything that undermines that needs to be changed now good luck to you paul thank you very much indeed for joining us live here naughty kaye all take you. And i will most of us will be getting ready for a long weekend of social isolation 130 member of the establishment has other plans. You know. And thats it for the moment more news in the health of the. In this community there are people who believe that its ok this other action you dont like its really hard there are no jobs and you see that ive got kids that ask heat and as a parent. I can come up with a logical argument theres a lot of conflict in the game and between the teams most of the conflict i would say overall is around money and most of them money is made. Close one on each other because he knows each other is good because the state of california alone makes 6000000000. 00 a year of prison complex just to get some 20 a life where. You dont care and cares about you so you dont care about anything. Max kaiser this is the kaiser report you know weve been saying that during this crisis the question is always been 10 jay powell over there at the Federal Reserve and other central bankers inflate to reflate or to pump up. Quick enough to hurt any downdraft in the stock market