Transcripts For RT Boom Bust 20240713

Percent now this is a downgrade of 6. 3 Percentage Points from general 2020 Major Division over a very short period of time. This makes the Great Lockdown last recession since the Great Depression and far worse than the Global Financial crises the i. M. F. Chief economist said there will be a partial recovery in 2021 adding the overall g. D. P. Will remain below previous levels the comments come weeks after u. N. Secretary general and tony terras made similar comments saying the pandemic will bring a recession that has no parallel in recent years and that it is the worst crisis since the 2nd world war meanwhile the w t o said last week global trade will fall by between 13 and 32 percent this year alone now theres a lot of great down here so lets go ahead and bring in some expert analysis from cohost ben swann and christiane i guys thank you so much for joining us christy this contraction of Economic Growth is it simply because of supply chain slowdowns or are there entire industries that will collapse as a result of the economic shutdown. Well run as kind of both you have this slowdown stemming from the shutdowns and businesses which creates massive layoffs and unemployment which then snowballed into lower income decrease Discretionary Spending which then repeats and feedbacks into the chain in a form of slowing demand so its a vicious cycle thats very hard to control once again mentum the other part of that is that you have entire industries that are on the brink of collapse and theyve been levered to help bring on cheap corporate debt now of course were talking about the oil and Energy Sector hit one of the icons of america well we can also be talking about the gig economy the gig and shared a cop basically have your assets that valuation upwards of several billions of dollars with 0 assets so that economy has a collapse and the fact is it has no assets to back it up or doesnt own its cars being b. Doesnt own any of its real estate making it all the more painful and then finally lets not forget about trade International Trade accounts for a significant portion of the economy but now the penned them back borders are sealed essential Industries Like mass make and ventilators are all hoarded not shared and its every country for itself trade barriers are coming back up and trade is expected to fall anywhere between 13 and 32 percent in 2020. Bet i want to bring you into this conversation what does this mean for workers for instance here in the u. S. We are seeing there there will be good were not 100 percent sure that people will actually get these jobs back after this their home orders are lifted because you know if were talking about an economic downturn a recession its something that rivals the Great Depression that means that these jobs will be lost for a long time before things start to rebound right well its very possible they will be by the way i thought that was such great analysis and crissy talking about you know air b. N. B. And some of those Massive Companies that really dont own anything so who does own the real estate who does own the vehicles that you know the people travel in for over well its the individual workers and then in many cases those are individual contractors the problem is right now to your point brant. The governments not bailing out contractors or Small Business owners this s. B. A. Rollout has been an absolute joke so far in terms the way its been handled and one of the problems is you have a lot of Small Business owners who are being crushed by it because theyre not getting any help but the majority of people in this country who are employed are employed by Small Businesses so its not just the workers that are hurt but if those Small Businesses cannot come back if those Small Businesses cannot reopen when the time comes because they didnt get help that they were promised and yet they were being forced to shut down and thats important for people to remember none of these shutdowns are because people asked for them or indicated they needed them theyre being mandated and forced upon them and then Small Businesses cant make money so yeah youre right a lot of these jobs for workers they may not come back because those businesses might collapse now kristie there are some big concerns about what this virus means for poor countries around the world now the g. 7 has actually announced that it could suspend debt payments for poor countries affected by the virus or what does it mean for these economies that are a little smaller. So the missed part in developing nations they have previously taken on a lot of debt which are very low Interest Rates and are to borrow so now they need to make payments and thats choking the funding for their other efforts to control the pen next and rate on share commie so right now these relief measures will allow them to channel more of their scarce Financial Resources toward medical and other relief measures but while these temporary relief measures help i leave that have about 6 months its certainly not enough as these developing countries are at most risk for the pandemic spread as well as for Food Shortages coming up in the future. Ben it seems like a lifetime ago but just a few weeks ago as the pandemic was getting underway we disagree here on boom bust with you explaining pandemic that they could be released for the 1st time ever can you give us an explanation of one of what pandemic bugs are just to refresh the viewers as to what that is yes who appeared to be bob very briefly these bonds were essentially created in 2014 remember that we had that big sky. There of ebola around the world and here in the United States well after the bowl the scare took place. The i. M. F. Essentially created these things called pandemic bonds which essentially would help small and poor countries deal with a large pandemic and so about 190. 00 s. Just like the number 190000000. 00 was promised in financing for poor countries if they received those pandemic bombs in the event there was a Global Pandemic which of course we have now and of course but it turns out that. In the midst of this actual Global Pandemic those bonds are helping the countries that had been promised to help so who is actually benefiting from this well and unfortunately that is the reality of this is that wall street is actually a big surprise here right wall street is benefiting from it wall street has done very well with these pandemic bonds unfortunately but the countries that need them cant even get them according to the w. H. O. Theres a whole series of rules about how this works it has to be 12 weeks after a pandemic is declared that a country can even receive it you have to have over 250. 00 deaths in that country and the way that this is been set up right now essentially a lot of these poor nations will not actually be able to receive money from the pandemic bonds even though the w. H. O. Declared a worldwide Global Pandemic so the bonds are not going to pay out to a lot of the countries that actually need them and in the meantime we are seeing again investors having made a bunch of money by buying into these bonds and theyll continue to do so but theyre not actually being used the way theyre supposed to be a big surprise here you know kristie you have the background in wall street that we know you come from here do you explain number one how wall street is making money off these pandemic bonds when theyre supposed to use to be helping poor nations. So the way that it wants cheap use it and then can no im not surprise here these are if we had as a short sort of insurance hedge so basically when a pandemic hits these bonds will pay out in return because wall street is fronting all of the funding for these theyre getting about between 10 to 11 percent return. Year over year so all the past decade that weve now havent had a really a pandemic as big as this one theyve been cashing in on between 10 and 11 percent return and as ben mentioned there are certain criteria that have been mentioned and these criteria really unreasonable now that we look back into how coronavirus rolled out you have to wait between 10 to 12 weeks for the coronavirus actually hit and by then were already in the midst and its almost too late to really make a dent with these funds and ive been also mentioned a lot of these countries are eligible simply because theyre not poor enough or they havent had enough cases but on the other hand about a lot of the countries that need financing the most countries like china italy spain korea the ones that have the most most episodes of coronavirus theyre an eligible because theyre not poor enough apparently well and its interesting too because when you look at it just because youre not overly affected by the coronavirus you dont have that many cases doesnt mean that your Financial System is not being heard as weve seen travel has gone to a standstill so people are coming in and out and even when youre not hit hard a lot of people are still doing the lock downs to prevent the spread just in case so its very interesting and well keep an eye on this story who must go spend swan and christiane thank you so much for your time on that. Thank you. As the number of cases of crowd a virus nears 2000000 worldwide lets take another global look at the spread of the corona virus with r. T. Correspondent saya tavenner so where we have today brand in europe a few countries are organizing some sort of slow activity back and that kind of me in spain some construction work has resumed and a few factories are also reopening later this week and in austria and italy followed with a gradual easing of restrictions out fall and some small shops are open and then we have denmark that is even allowed small children to return to schools and nurseries later this weekend here in the u. S. For a cases are still on the rise and account for. Most of the confirmed cases and thats governors on both coasts are considering measures to begin to restart the economy even though President Trump has made it clear that only he the president and will decide when he would be safe to ease those restrictions but new York Governor Andrew Cuomo has said. That United States doesnt have a king we have a president so well be seeing soon what those restrictions are that are going to be lifted and who will make those decision but in brand i also want to mention that the odd bracket outbreak in some countries are still far from their peaks a great example of that is india who has just extended a nationwide lockdown for 3 more weeks leaving 1000000000 people on their servier restrictions and youll see that india has almost 11 more than 11000 come from cases and a little over 390 deaths but experts say india has not conducted enough has and that the true number of factions are actually much higher last i want to mention that millions of indias poor population have been left almost completely without support as jobs have pretty much advantage and incomes gone brown so i want to go back to something we actually spoke about. Theres been talks of businesses using a 5 year pyramid which is a hierarchy which is a system that china has used previously he talks about that yes exactly so businesses have long relied on a 5 tier pyramid called the hierarchy of controls to reduce workplace restore employees and this will be the basis for Companies Planning to get back to work which china has already like you said implemented so the most affected is the elimination and it goes from most effective to lease effect of the elimination is removing the hazaras so obviously you cant do that until of x. You know is found then the 2nd most effective is the substitution now this work. For an example in a company where you can eliminate substitute one toxic for another you cant obviously swap out this virus for another the 3rd most effective is the Engineering Controls and Engineering Control is when you isolate people from the hazard keeping them out whole and thats what theyre doing right now globally right then there is a administrative controls thats when you change the way people work like for example in our line of work a lot of reporters are working from home but that doesnt obviously apply to every industry so you can do that right now then there is that p. P. P. Which china has implemented and that p. P. P. Stands for protect the worker with personal protective equipment so i think of it this should be eating feast mags and telling their employees constantly to wash hands and thats exactly what china is doing so governments and companies are facing a very difficult choice in the coming weeks they can either reopen businesses with expensive hygiene controls or were trying to work with fewer controls and accept the risk of a 2nd wave of infections or to respond it starts average or thank you so much for your help. And as a reminder you can always find the latest news and information regarding the crowbars on portable t. V. Tracker time now for a quick pause but hang tight markets are surging but they are not necessarily reflective of the state of unemployment and. Well break it down with some expert analysis straight ahead and as we go to break here the numbers at the close. Join me every day on the all excitement chill and ill be speaking to guests of the world of politics this list im sure ill see you then. Something. Thats. Just to me. She still. Has to move. You produce not just a list and you will not im one of the not so there is too much stuff and it takes to do what i see. What you hate you this is. A really. Tough guy and he can be so easy going to the police. To take a little shots off the next dont. Give a solution safety. The sort of the. And welcome back markets here in the us are in the green tuesday continuing the mostly upward trend we have seen over the last week so i dont want to waste any time here and get right to the details of markets with shawn hyman editor of the logical investor and boom bust cohost christy i would welcome her back now christy you called me bad luck bright yesterday but tell us whats going on in the markets today i go there up. Yes equities opened up sharply on tuesday as investors were more optimistic about the coronavirus outlook with major indexes up over 3 percent johnson and johnson was the best performing name in the dow as a lead rallies and Consumer Discretionary is and consumer staple names and for the 1st time since march the nasdaq has scrambled back above key Technical Levels above its 50 and 200 Day Moving Average is now corporate earnings kicked off on tuesday giving us a 1st look at how devastating the recent shutdowns have been for corporations j. P. Morgan reported that it missed expectations with earnings plunging e. P. A. s at 0. 78 down 71 percent from the 2 dollars and 65 cents reported q one of last year profits dropped to 69 percent year over year which is the biggest annual drop since the financial crisis as the bank recorded a surge in credit losses to 8300000000 dollars as a braced for surge and defaults j. P. Morgan also announced that it has added 6800000000. 00 in reserves this quarter as c. E. O. Jamie dimon emphasized the need to remain well capitalized and highly liquid given the strong likelihood of a severe recession now much of the optimism stems from improving conditions as 10 states have reported that theyre making coordinated efforts to reopen businesses shut down by the coronavirus now these include washington oregon and california led by california governor Gavin Newsome and new York New Jersey connecticut delaware pennsylvania rhode island and massachusetts led by new York Governor Andrew Cuomo now collectively these 10 states generate almost 40 percent of the total u. S. Economic output so as these plans are still in early stages companies are still bracing for at least months of limited revenues many are scrambling to raise debt in order to ensure continued liquidity but the credit market has tightened but the spread between risky high yield debt and u. S. Treasury widening sharply to about 9 percent now from 3. 5 percent in january airlines especially have been hard hit with Global Airline losses climbing up to 314 1000000000. 00 representing. A 55 percent drop in 2020 passenger revenue compared with last year now there are still no ms ability on when travel restrictions will be eased so while a further slowdown in the penned them expanding is keeping sentiment and optimism some supported analysts are still reluctant to trust a long lasting recovery Goldman Sachs warned that this downturn could be 4 times worse than the crandall crisis with the u. S. Facing the highest Unemployment Rate since world war 2 and as fiscal and Monetary Policy raise to put out fires one after another during this endemic the fed has become the lifeline to main street as well as wall street the fed and treasury are becoming the main lenders to american businesses and in doing so its putting american capitalism at risk so what is the fed going to do when it keeps on backstopping everything where is the market price discovery then when this is all over will the fed actually retreat now i want to branch out here is shown earnings are out for wells fargo and j. P. Morgan as we just said there and they have as christine just said that if they and they have foreshadowed that the rest of the earning season is going to be pretty bad even with the negative revisions that look is not great so then why are we seeing a rally in markets here on tuesday and really almost the last week when we knew these were coming. Yeah absolutely now weve had is really you know you weve had a sell off that was 35 percent the and then were seeing a recoil of that and part of that is just because youve got institutional shorts that are covering those shorts and you cover a short with a buy so that makes buying pressure youve got institutional traders that go in for quick trades of a day or a week or a month thats pushing things up and that can evaporate and turn very quickly as well and then youve got the retail money which are just regular everyday mom and pop people theyre fishing for bottoms thats going in and trying to buy on this as well and its pushed you know the market back up towards only down about 16 percent now weve still got one more leg to roll over and head lower and well probably see that happen unfold in the next coming weeks or so now kristie theres more talk about reopening the economy as you just mentioned whats that going to look like and how would it help when there is really still no demand if people really are going out and frankly we dont know what people are going to want to do when we dont have a vaccine or whatever may be used to control the spread of this virus. Exactly were going to see less strict a measure is probably what they mean by reopening the economy theyre going to reopen in phases with slowly getting back to business but ultimately its going to fall on consumers and demand so in the recent whole sports fan show that 30 percent dont know that theyll ever feel comfortable attending a live event in the current this year and travel more than 2 thirds of respondents said that they wont be ready to get on an airplane within 3 months and only a 3rd said that theyll be willing to stay in a hotel so while businesses start to reopen again it will initially be very similar to what china actually experienced a huge demand shock and simply you have this void left where we previously saw massive consumption so you will see production ramp up but it will take some time for demand after that and showing what are you seeing with the prospects of reopening the economy to what christie just said if you do start to get those businesses back to work but there isnt the demand theyre going to start having the a lot of overhead that they have to pay that theyre not making any money and now they have really no excuse they cant say oh the doors are still closed due to the coronavirus. I think that they really dont need to make it like a blanket thing across the nation i really think they need to analyze where the pandemic has been the worst and open those areas more slowly like new york and new jersey things of that those places and then also maybe open it a little quicker in places where like for instance in texas weve had 300 some odd this in a population of 29000000 people in texas so thats very very very low so open places like that a little bit quicker and then you know eventually open places a little bit slower that have been more highly impacted and then dont let people you know travel to the high impact places as well for quite some time on the 1st round of paychecks stimulus is getting to. Is this going to make a difference for u. S. Consumers. Some so that i mean you know if you take an average person that makes 50 or 60000. 00 a year and you pretty much shut his business down you know theres 45000. 00 a month that theyve lost but youre giving them like 1200. 00 back if theyre not above a certain amount that they were made on their taxes last year so you know in my head will make the rent possibly probably not going help them make their mortgage and if it lasts for any length of time its not going to help them that much at all and then when you think about is going to help certain places of america better than others like in texas where the cost of living is lower its going to help them more but when then when you get to higher income brackets in places like california where it starts to taper off its going to help them less well absolutely as weve discussed if theres no place to spend your stimulus youre going to put it back into bills and when you put those back into bills that does not stimulate the economy does it keep your head above water absolutely unfortunately it does not stimulate the economy what a stimulus check is needed for now chris i want to ask you a quick question before we wrap up here as we brace for more of these negative earnings as we saw today will we see a big selloff and get to retest the lows or are things going to just keep going up because people are hoping for the best. But i also think that we are headed for another lay down because once we have this slew of negative earnings we will have an expectation rebalance so right now expectations are high but i thought agent havent really come down enough so we did see j. P. Morgan expectations get lower but apparently the earnings their Earnings Report actually showed that what they reported was actually a lot worse than what the street expected so as we get more data points we can get an increasingly more accurate picture of what were working with and at that point we will either violent these gains back up and retest the lows or we might potentially just turn and ride continuously lower as we have not the previous liquidations of panic selling that weve seen before but just another earnings to a balancing. Cohost christiane and shawn harmon of the logical investor thank you both for your time today thank you. And finally its no shock that streaming demand has skyrocketed due to the ongoing lock downs around the world frankly weve seen the data from internet giants that proves exactly that point now roku as we just talked about earnings announced they estimate an increase of 49 percent in streaming hours on their platform in the 1st quarter of this year compared to the same period last year now spiking to more than 13000000000 hours watch think about that teen 1000000000 hours watch now you may actually be watching this program boom bust right now in Crystal Clear High Definition with the portable t. V. App on your roku device right at this very moment and why wouldnt you when you could watch it instead of watching it in standard definition now on that news to roku saw a 10 percent jump in their stock price and added more than 1000000000. 00 to their market cap despite saying that the company could lose as much as 60000000. 00 in quarter one of 2020 and thats it for this time you can find the brand new portable t. V. Episode on smartphones through google play and the Apple App Store by searching portable t. V. Or streams to your t. V. By downloading the portable t. V. s on apple t. V. And as i just mentioned on roku devices you can also find our coronavirus tracker on the portable t. V. s where you can get the latest news and information about the spread of the virus and as always check us out on you tube dot com slash boom bust r t c n x that. Is the code 19 pandemic change the international system. Relations to end is the last experiencing. Thank you because you. You probably want to be god in our shells no problem was he didnt know what to do he was trapped in this tiny little wired we dont need a crate with him he will just. Freaking out and he will want to spray him anywhere near and thousands of breeding dogs that caged in in human conditions on puppy farm i mean 67 years you know theyve been locked up in cages outside you see no protection from the weather the heat you know the courtier the rain the snow the founder nothing they have no protection. Its ok but you. Know its ok. Across the us cruel puppy mills are supported by dog shows and pet stores most of the puppies that are coming from these large Scale Factory farming kind of operations are being sold in stores even joined by good businesses are involved like cargill among santa there has been a shocking amount of the organizing opposition to adverts to increase the standards of care for dogs bred in commercial rating for so many most of that opposition is coming from huge agricultural groups and industries that have nothing to do with dogs dont buy dogs on o. T. Humanity is on the edge of a precipice thanks to a continuing destruction of the natural world. We just seem leery of a lot of bills also. Losing much of a later period. Of pianos a bit. Less than nothing you can hold up. The bill you. Got all of the war for 30 or the. Only dealing with you. Illness and oldsters a little boy can sit around and stuff and shit then see that disables the. Human activity has brought us to the brink of the worlds 6th major extinction event and the people in this film just come take it anymore. Welcoming our viewers from around the world live from Central London this is our to u. K. The government promises to ramp up coronavirus testing in care homes amid fears the disease is running wild among residents and staff thats as Cancer Centers across the country rolled out and testing ill be speaking to professor carol support a w h o director who is at the forefront of the initiative. U. K. s top trade negotiator and hes e. U. Counterpart meet to set out a timetable for talks that says the italian Prime Minister miss the e. U. Is at the risk of collapse amidst the crisis be speaking to a french. Report reveals that almost all of the selfemployed people worried they will not have enough money to cover basic costs. So this campaign as world war torn countries such as yemen are facing 2 emergencies a humanitarian crisis and the impact of all the coronavirus. Outbreaks of coronavirus within the adult care system of nearly on avoidable thats according to the government but more testing is being promised within the sector it comes as charities and the opposition raise concerns of a growing Health Crisis in care homes that is being emitted from official figures he said and he joins me live now in the studio with more details how has the government responded to the call for more testing well the government has been receiving quite a bit of criticism for not just the testing of regime in care homes but generally across the country im for it its just stuff but when it comes to those in care homes in those working. The government has responded in saying that they are going to increase the number of tests that they carry out and no promising to test all staff and carers as well as residents of those care homes now weve seen today the Health Secretary matt hancock saying that the government will continue to test people who have gone from hospitals and increased the number of those whove gone from hospitals into social care in order to screen and see who is carrying the virus with them throughout this crisis weve been working credibly hard to protect people in social cat and today we can now use that everybody going from hospital into social care will be tested will be isolated well as the result of that test comes through because that helps to protect people who are in social care who are after all some of the most Vulnerable People in the country. Now its understood that around 2000 homes have reported outbreaks of coded 19 and this comes as recent figures the latest figures in fact from the office of National Statistics reveal that up until april the 3rd 217 people had died after testing positive for coded 19 in care homes and of course its been 12 days since then and that number is expected to risen significantly in that time frame now weve also been hearing from the medical director of Public Health england yvonne doyle and she says that these types of stats which are rich which are released by the office of National Statistics should be done so on a daily basis. We are working with you and us to actually speed that up so that we do get quicker information as you know the daily death we would very much like to have its a bit more complicated for care homes because although over 9 out of 10 deaths sadly do occur still in hospital in the community theres a range of places where they occur including in care homes but not just there in hospices and at home indeed as well and in these very dispersed systems we just need to be absolutely clear that the cause of that is attributed is correct and that is what takes time on the death certificate to get it right but we would like to have much more rapid. And preferably on a daily basis and thats what were working towards. And hes any word on when the lockdown could be lifted we dont have an official word yet but we understand that the government are looking to make an official announcement tomorrow with regards to the latest update we expect that the government will announce that that will be extended now it will be foreign secretary dominic robb who will be speaking and according to some reports hes expected to say that it will be may the 7th at the very earliest that the lockdown will be extended until all the lockdown will be lifted so yet another 3 weeks of lockdown to go for the u. K. And of course what impact thats going to have economically socially and in other ways also remains to be seen now the newly crowned or newly elected leader of the opposition kiss starmer hes called on the government to publish their exit strategy says it doesnt want an exact date because it wouldnt be realistic or feasible for the government to do so but at least to give an idea of how theyre going to go about it will they be opening schools slowly or businesses allowing them to open slowly and slowly thats what mr starr most wants to see but chief medical officer chris witty hes also been speaking in saying that it would be foolish for the government to be having those discussions before the peak of the power that it has been reached. Thank you very much indeed for that another potential to lose the fight against the viruses the creation and rollout of antibody tests the test detective somebody has already recovered from the virus and therefore could now be immune however the development of such a test in the country has been held up by a shortage of blood samples from those who have recovered this is in part due to the british dont break still being in its early stages while it can take several weeks for patients to develop immunity questions also surround the chances of re infection and how long immunity to the disease last after a person recovers or one man whos paving the way for the rolling out of such tests as professor carl sykora the former director for the w h o Cancer Program he joins me now live professor thank you very much indeed for your time for going to tell us more about these antibody tests how they work. So basically weve heard about the tests for the virus usually you know the swab or throat swab these tests a finger prick of blood or sometimes an inconvenience or remove from an arm they collect the blood take it to the lab the kit form of the test can be done low can it point to catch as you can call them done within 15 minutes you get a readout on the strip and just like a pregnancy test the question is their reliability and what real problem with screening all ostroff we run a series of tents the centers we screening last off to try and find out what the prevalence of having had the virus is now the pandemic is about 4. 00 to 6. 00 weeks old the problem is the antibody response takes about 4 weeks to actually go to the top of its peak and it lasts for about 2 or 3 weeks at the top then it falls its enormously variable both on the strength of the response and the timing of that response so well the world says what its like a pregnancy test thats pretty all or nothing this is not this is much more subtle we want to find out home and if our stuff have got handed bodies thats means they had care of it and theyre safe to go back to are thats a point theyve had it and theyre safe to go back to work and yet we have seen reports of people can get the virus a 2nd time and that the antibodies may develop but in fact not for very long. Exactly and so what were doing what people around the world are doing that using these kits in situation by austria were following for European Countries that yesterday morning came partially out of lock and a slow progressive way young people small shops Small Businesses open 1st keep the vulnerable elderly secluded then gradually go through all Schools Primary School was 1st then secondary schools then universities going up the age spectrum and studying what happens by. To the virus and to the immune response to the virus and i think the combination of that data will guide us were about 2 to 3 weeks behind in the cycle of the pandemic compared to germany compared to austria Czech Republic so well watch what happens there with great interest monitor it and then we can adapt it governments are very loath to predict whats going to happen but we should have an exit strategy we cant go on like this forever weve got one of the criteria that are going to be used the numbers are new cases are dropping hospitalisation the crop quite dramatically over the last week and the desk continued thats what youd expect sadly they will continue for about 10 days now even the death today of the government figures have dropped a bit well have to see what happens then i think next week the critical week for deciding the actual date of getting us out of this mess and of course these antibody tests really are critical arent they and i understand that theyre being carried out in rather a cancer sense as but talking of a time line when the rest of the country effectively get their hands on these tests but very cheap 1010. 10 us talk about 7 pounds and very cheap to do very easy to do theyre not exactly self test them a lot of rumor that they come over the come down by amazon you get them up boots and so on and do it yourself then theyre a little bit trickier than that and theres a bit of ambiguity and then for taishan weve done it by getting all the staff together and doing it with doing it now in all senses having done one center yesterday with very rigid Quality Control in a laboratory in london with the same sample so we validated the test and now well look at how many a positive or whats different about the positive stop and the reason for doing the start rather than the patient its all about Patient Safety we need to do the stuff 1st to make sure that how what the percentage of staff are actually already immune and just study that. And then go to patients can we adopt it for everybody who knows its possible to do there are enough tests in the world to do this sounds so encouraging a glimmer of hope for us now i understand used to advise number 10 and have been offering your help regarding these antibody tests anyone listening whats a response are you getting that old battle james bethel is that is the minister appointed in the department of health 2 weeks ago the minister of testing a great title to have and hes definitely where were were texting each other ive sent him a report on what we did yesterday well get more well get another report tonight and whats happening you know everybody sharing the day its great to see of course the current tests are showing with weve got it or not and i suppose britain has every chance of being told you havent got any cause you can get it within the next week and now were hearing that the government has promised these 19 tests these current ones to be rolled out across the care sector what do you think of the effectiveness of those because one of the half 1000000 people working in the cast sector how long will this take and is it in the fact of tests to do anyway the trouble is you have to keep repeating it the sample error is quite considerable you could imagine putting a swab up a nose and you get gunk coming out and the virus is hiding in there sometimes its just dead material that comes out of the sample errors we call it is quite big and blood samples much easier but unfortunate called to check the virus itself in the blood so i think we can only do the best we can and im sure care home should have been included right at the beginning of the same as hospitals anyone going into a care home is more vulnerable just because of their age age is the best predictor of likely serious long problems just more them all sorts of other things just very briefly i know you touched on lockdown measures but any idea when we might see a return to what we might call as normal when we have a return to normal youll find of the words so sage the Scientific Advisory group on emergence is me. Today and tomorrow or tomorrow theyll have to make a decision with ministers having sifting through the evidence i do that will be conclusive theyll say sometime in the next 3 to 4 weeks id like to see it i would say 2 weeks from now monday the 27th of april that would be reasonable to aim for lets give people optimism we can always pull back if the data look bad we say ok sorry people were going to have to wait another week and i think we all have to do it together you know it would be crazy if scotland did one day well that another and england did another so in belfast and yet another we cant do that weve got to go together and well monitor whats going on in the other countries in europe that have come out and this week very close in age when its great to hear words of optimism coming from an expert such as yourself we do so appreciate your time good luck with all your work youre doing professor professor karl sykora thank you for joining us. Britains top trade negotiator and he you counterpart a meeting to thrash out a timeline for future talks david frost Michel Barnier will discuss negotiating a deal remote the jury in the lock down period Boris Johnson has been vocal about maintaining the deadline of december 31st but some e. U. Officials have dubbed the rigid timetable fantasyland and the letter from germanys ambassador to the e. U. Highlights concerns over the blocs capacity for remote negotiations. When michael clouts the said that the Council Secretary advised for only one Video Conference each day as there arent enough facilities for law the ability to carry out work has orser decreased to 25 percent and he also raised the issue of confidentiality and the lack of interpret over video link. That i mean streets is said that the deadline is in trying to gnaw therefore the government will continue to work towards it meanwhile the italian Prime Minister has said the e. U. Member states need to Work Together and find a Financial Solution to help their citizens he also expressed concern over the possibility of europe failing itself. There is this risk so if we dont have to seize the opportunity to put new life into the european project the risk is real thats why i want to lower to materialize i want to banish it. To discuss his own father not joined by french any peace summer gauzy some to thank you for being with us thank you as the 80 year done enough to tackle this crisis has done it all after the last after is done a lot now it has to take another boat step or were launching it found to find a new fresh resources on the market for the recovery so i think that the unions there and on their i try but there is deal of work to do and that we both through our meeting to more of the European Parliament where we have to adopt an important resolution and 1st of all of the meeting of the european leaders on the targets of the paper but after having been a very slow to answer at the beginning now the year when it is on the right track but we still have. Work to do right you said the unions on the right track is the union united there are countries actually working together to beat the virus when i mean there is there is a very intensive debate within the council and north of the within the eurozone but the debate is a new one is not the old debate between north and south as during the crisis i would say that is a debate between allows majority of gantries we see the stance of fortune seen and seen this the need to make it different this time compared to the past that and a very small group of counties i said that the land all of your feet on which i have never meant anything to your lives yet that war is changing and the europe must adopt or to this new context following the break up of the growing of virus crisis but there have been concerns over the very survival of the e. U. Over this crisis how do you. To limit what i mean if that your b. S. Ends our bank havent provided the program with the almost 900 even more 900000000000 euro and eve we had and that put on the table east room and we child that they were now to fight against and Employment Wanted to be done you are all. 37 but you know you are for the read 240000000000 euro of the European Investment bank if these and then come our way im sure that we would already be in huge trouble and notably the action of there would be a central bank in that it already in that month of march has been days it bought as i repeat their walk is not over and do we still have to take some bold and important decisions yes you talk about the Economic Impact there but what about the institution itself some are concerned about the very survival of the European Union as it stands i wash convience the c. S. In my election even before that the you young needs a substantial reform and very deep regret for process because it is clear that that on some aspect we do not talk of the euro group in my view doesnt walk. They you or that europe doesnt that enough capacity in the industry sector in the had sector so what was important before the crisis to me it is began absolutely necessary so on one side there is the as for the dimension seat and so far even we do we have been talking about the aspect of the american c. Of the coronavirus crowd this the are the issue either institutional and democratic recovery which is a steal a white page of it white pages that need stated to be a good written sort or just very quickly if you dont mind those all important trade talks between the e. U. And the u. K. Is the deadline achievable are we heading for a no deal breaks it. It made us very difficult in my view is that a difficult now to the deadline so either the u. K. Asked for a april 8th to prolong the negotiation and u. K. Steve can do it by the end of june not at all i think its going to be very difficult to wait to add a substantial lead by the end of the year it was already difficulty maybe before now with that time but we wasted not because of a response that we defy anybody but because of all day or one of irans crises and im very skeptical that they we can make it sound very thank you very much for joining us on frequency thank you if youre. Well lets have a look at the latest figures here in the u. K. Over 98000 have tested positive for covert 9761 more people have sadly lost their lives in the past 24 hours bring the total to over 12800. 00 and across the world the number of cases has passed the 2000000. 00 mark according to Johns Hopkins university of 128000 kovan 1000. 00 deaths have been recorded globally we must have a hauf a 1000000 have made a recovery in the World Health Organization has advised all countries to wait 2 weeks before easing restrictions this is a phased approach would reduce the risk of new outbreaks still to come this campaign has warned that conflict affected countries such as yemen facing to imagine since the monetary crisis and the impact of the coronavirus. Join me every thursday on the alec simon show and ill be speaking to guest of the world of politics sports business im showbusiness ill see you then. Is your media a reflection of reality. In a world transformed. What will make you feel safe from. Tyson nation full community. Are you going the right way or are you being lead somewhere. Direct. What is true what is faith. In the world corrupted you need to descend. To join us in the depths. Aura made in the shallowness. Court has found that almost half a selfemployed people worry they will not have enough money to cover rent and bills during the pandemic last month the government introduced a grant for the selfemployed who have lost their income as a result of the outbreak however 45 percent of those worry that they wont have enough money to cover basic costs and 66 percent fear that they will burn through all their savings in the next 3 months despite the governments Financial Support and thats a 60 percent saying that the range of support available for freelancers would not sustain their business and their income through the crisis or discuss this further ill be joined in the next hour by a self employed painter decorator. President trump is to suspend u. S. Funding to the World Health Organization the accuses the u. N. Agency of mishandling the coronavirus pandemic and supporting what he calls chinas disinform ation trump also accuses the w. H. O. Of mistakes which led to many deaths in ited states accounts for more than a 5th of the h os budget im instructing my administration to halt funding of the World Health Organization while a review is conducted to assess the world. Health organizations role in severely mismanaging in covering up the spread of the corona virus us President Donald Trump has announced that he is cutting u. S. Funding to the World Health Organization accusing the organization of conspiring with the government of china to suppress Important Information related to the corona virus and jemma through the middle of january it parroted in publicly endorse the idea that there was not human to human transmission happening despite reports and clear evidence to the contrary that delays the w. H. O. Experience. Into playing a Public Health emergency costs valuable time this decision and previous statements by President Trump regarding china and the World Health Organization has been widely criticized around the world many have argued that the United States is essentially politicizing the World Health Organization w. H. O. The organization that does so much a vital and important humanitarian work at a very moment when their work is really needed and it has been warned by leaders of the World Health Organization that this decision could result in body bags deaths could come about as a result of down trumps Decisions Police dont politicize this virus it exploits the differences you have at the national level. If you want to be exploited and if you want to have many more of. What the bugs. Then you do it now its also important to note that republicans in the u. S. Congress have announced they plan a congressional probe a hearing to investigate china for its role and possible culpability in the spread of coronavirus so it seems that from the trumpet ministration and republicans there is a strong feeling that china is somehow responsible for the Global Pandemic and that World Health Organization and Many International bodies may have whopper rated with them in causing this kind of problem now critics of pointing to this and saying this is a massive Conspiracy Theory this is an attempt to distract from the failures of the United States when it comes to dealing with this pandemic but many of the voices on the republican side of the aisle and surrounding the trumpet ministration are adamant that china is to blame and the World Health Organization the World Health Organization needs to be held accountable now the World Health Organization and beijing officials have released a timeline providing step by step information about how the pandemic was dealt with from december onward showing coordination and cooperation between chinese officials and International Bodies they say this narrative of a chinese cover up with which the World Health Organization is allegedly complicit simply doesnt add up. It comes as former m i 6 chief said that while the w. H. O. Should take some of the blame for the pandemic the rest should fall on china so john sawers who was head of the secret Intelligence Service from 2009 until 2014 did acknowledge the flaws in the organizations response however he added that it is only as good as its Member States and that it would be more appropriate to hold the Chinese Government to account the w. H. O. Has called on countries to avoid politicizing the virus if they want to avoid more deaths. Campaign as a warning that water on countries such as yemen face to emergency is a humanitarian crisis and the impact of the Coronavirus International rescue Committee Says insufficient health care unhygenic conditions and a lack of clean water make simple measures to contain the disease almost impossible activists are calling on governments to act now while conflict affected countries are still in the early stages of the virus others blame arms manufacturers for fueling conflicts in war torn countries such as yemen and as a result worsening humanitarian crises International Rescue Committee Report says the conflict has left only 51 percent of Health Facilities fully functional in yemen 80 percent of the population is already in need of humanitarian assistance and the countrys only 3 hospital beds and only 7 doctors to 10000 people. Thats it from a more news in a half an hour. Has changed american lives but pharmaceutical companies have a miraculous solution. Based drugs the people who are chronic pain believe that their opioid prescription is working for them in the remedy. To the price at the. Close of dependency and addiction to opiates to long term use that really isnt scientifically justified and ill study actually suggest that. The long term effects might not just be absence of benefit but actually that it might be causing long term. Im not sure it and soon youre watching going underground the whole team here hope youre all safe wear away until wednesday the 22nd of april but in the meantime were screening somebody a favorite episodes of the sofa coming up in this show as the u. K. Governments medical advice provided by a form of big pharma president even dont just from being tested for covert 19 we are going to tally and go to what the situation is like there and how bad it will get in britain and those Boris Johnsons government consider itself part of the poetry in the hood immunity big fiction rebellions professor richard reid explains the. Kate triassic attacks trophy with kobe to blast the most lethal terror attack in u. K. History did britain conspire a cover up of the mob could be involving u. S. Intelligence libya and iran we told you said mr hammer on the hour about winning an Appeals Court hearing what some call the worst miscarriage of justice in the u. K. Legal history all of them all coming up in todays going underground fast lets go straight to a hospital in modern up where were joined via skype by dr giovanni growled the Infectious Disease specialist who was at the forefront of the italian fight against corona virus thank you so much giovanni for coming on what is the Current Situation in northern italy where your boy will this equation is pretty large because of course weve got hundreds of people that have got to you think should not try to cool to hospital of course that this is feasible we cut it for us all best and so a situation in trying to understand which kind of action we need to do so that to 2 people that whole when possible and with. Just stations who got rescued out there and you stress a soul of course its a difficult situation sometimes we ask the patient to step in and couple of days they will come anyhow because they are getting worse off in the least told the change because