A live report on the Aerospace Giants latest move and Oil Continues to sink as storage nears capacity amid the massive decline in demand we take a look at the petro sector and what lies ahead for energy with a packed show today so lets dive right in. As the worldwide total of corona virus cases has officially clips 3000000. 00 the World Health Organization is director general on monday address the easing of lock downs in europe due to the klein in new cases on the continent. The new hope is was declining number of new cases. We continue to urge countries to find isolate test and treat all cases and try this every 2 e. These declining trends continue but the pond is far from over w. H. O. Warned that while western europe may be seeing declining numbers there is a concerning upward trend in africa Eastern Europe latin america and some asian nations the director general also spoke about the importance of the world coming together to fight this and future pandemics. I continue to call for the woman to come together in solidarity and National Unity to come from this pond and weak but also to prevent the next one and to build safe a fairer world for everyone everywhere. If we are not united the virus will exploit the cracks between us and continue to create havoc. Lives will be lost and even every single life is very precious and as were seeing more governments prepare plans to use these lockdowns lets take another global look at the spread of the crowded virus with our teeth correspondent side having her so where are we today so brian numerous countries around the world are actually in the beginning stages of managing the Virus Outbreak now that doesnt obviously mean that people arent getting in fact that it just means that several countries are slowing the rate of infection out take a look at the countries like a u. S. U. K. Spain italy Germany China and france now theyre all slowing their rate of infection which means theyre actually the trends are flattening on the curve and my flattening the curve means in other words preventing and delaying the spread of the virus so that large portions of the population arent actually sick at the same time so all in all the very good news brown you know as were seeing some of this flattening of the curve as they say what are some of the actions governments are taking to ease some restrictions reopen economies so here in the u. S. Americans are showing signs of quarantine fatigue which basically means that americans are venturing out of their homes more of war the 1st time since social distancing guidelines were put in place in mid march and with more than 5055000 deaths and almost 1000000 confirmed cases some states are already planning to ease some so. To restrictions like for example a george of the fastest state to ease restrictions is already has allowed hair and nails salons small shops and jim street reopened last week and today people in tennessee will be allowed to dine out of restaurants for the 1st time and missouri is planning to allow almost every business to open next week now new york has also laid out a plan for a gradual reopening of low risk business a starting in mid may then looking globally there are spain the European Countries with the highest number of deaths after italy which reported its lowest death toll in nearly 5 weeks on sunday and then at that same day on sunday children were able to actually go outside for the 1st time in 6 weeks and then we have switzerland where beauty salons open of the doors today and shops are actually selling for the 1st time other things other than food then we have a neighboring country germany and theyre also gradually easing some restrictions with playground set to open later this week and theyve also made facemasks mandatory in shops and Public Transportation and theyre giving out fines between 2510000 euros if violated then we have the u. K. Where Prime MinisterBoris Johnson is back at work today after recovering from the virus where he announced u. K. s lockdown would actually remain in place and reviewed at a later time by may 7th and italy has recorded their low with a daily death toll in 2 weeks and people are now allowed to actually move around their regions but not between different regions for example if you live in rome you still cannot visit relatives or friends in the milan but you could go ahead and mentor of between roma the city that you live in and italy is also considering restriction commercial flights from other countries into italy but thats still not decided on. But salons bars and restaurants are expected to be open starting june 1st and thats pretty significant considering that italy had some of the strict this lockdown in order to contain the virus and lastly brand argentina which has been under a National Lockdown since march 20th and with over a 192. 00 deaths already has closed its borders and blog entry to foreigners from affected zones which include your rob china and the u. S. And theyve just expense extended that ban until september 1st but some activities are not permitted including a maximum one hour walks per day but only within 500. 00 metres of peoples homes are key correspondence i have in your thank you for the update and a reminder you can always find the latest news and information regarding the proto virus on portable t. V. s kroto virus tracker. And its no big surprise that the coronavirus shutdowns have severely impacted airlines monday brought even more bad news for the 2 of the Largest Aerospace companies in the world at boeing and airbus in fact boeing shares traded lower on monday after the plane maker dropped plans for a 4200000000. 00 joint venture with Brazils Embraer now the deal was 2 years in the making but was canceled on saturday after a deadline passed to bridge gaps in the agreement between the 2 companies but embers says that it was boeing that wrongfully terminated the agreement joining us now to discuss his book the toast and investigative journalist ben swan is been following the story for us ben thank you for joining us on this why would boeing attempt to get out of this agreement if that is in fact what they actually did. Well i think that theyre trying to get out of it for a couple of reasons 1st of all remember as you just said there correctly so this is a deal thats been 2 years in the making and in 2 years ago boeing was in a very different position position that it is now keep in mind this was all before the 737 max jets began to crash and boeings production line went offline before boeing started losing out on hundreds of orders of new planes those orders to go into air bus instead and then of course with the coronavirus and the fact that air travel has been so low you know no one could have predicted that and now boeing finds itself in an even tougher position but the real losers in all of this are going to be the staff of boeing about 16700. 00 commercial planes you know i have been grounded theyre not going anywhere as a result of that but we is also talking about layoffs for about 10 percent of its workforce which is about 160000. 00 people so youre talking about a massive amount of people who may be out of the job and boeing doesnt see how its going to be able to pull out of this so instead they cite irreconcilable differences on an agreement with amber in order to not be able to move forward and now boeing has actually a big week ahead in the next week boeing will hold its annual meeting report 1st Quarter Results and face the application deadline for a multibillion dollar aid package from the federal government what are we expecting this week here. Well its going to be interesting to see kind of how that plays out because obviously with the aid package boeing just wanted to be given a stack of money which doesnt everybody and they was a going to work out that way so they do have to apply for that money show how theyre going to use it but again when youre talking about a large amount of their workforce being cut you have to look at that and also question whether or not they should be given all this federal money if the because its really taxpayer money if taxpayers are going to hand over billions of dollars to boeing and yet boeing is planning to cut 10 percent of its workforce by laying those people off wheres the money actually going where is it flowing to especially when right now air travel is not back and boeing has preexisting problems its not like boeing was humming along just fine when the coronavirus had these were problems of their own making and this is definitely been probably about an 800 to 2 year 18 month to 2 year issue for boeing really facing struggles and many of them of their own making and i want to take that away from them boeings biggest competitor though air bus told its staff on saturday that the Worlds Largest plane maker is bleeding cash it on president speed and warned that its survival is in question quickly ben what does this mean for air bus and its employees the same thing but bad news for employees there about 3000 employees have been furloughed in france already air bus does not know how theyre going to continue to pay all those people theyve been trying to you know get those workers back to work as quickly as possible but in the over in france the union is the one fighting is a bus to say workers should not be back right now so again its workers who are being hurt more than anyone else right now boom bust cohost an investigative journalist ben swan thank you so much for that reporting. You got it. And markets worldwide are up as the prospects of easing lockdowns and reopening economies is leveling out volatility so lets get an update on what is happening with cohost other bus cohost Christine Christie is joining us from Los Angeles Kristie thank you so much now were starting off the week pretty quiet i mean we were up you know the dow is up 400 points or so today but this is going to be one of the busiest weeks on wall street what do we have to look forward to. Well today were actually up on the hope that the economy will reopen so states including alaska georgia South Carolina tennessee and texas theyre all beginning to allow restaurants and other stablish meant to start to serve customers looking forwards were going to be in the midst of peak q one earnings this week with about 173 Companies Reporting the big ones ive got to be alphabet starbucks pfizer facebook microsoft and apple theyre all slated for later on this week now last week has given us a mixed bag view with some companies weathering the storm better than others however this week will really be an indication of where the economy is that good at getting right now on the market in the case that traders are kind of preparing for another sell off as recent optimism has flooded the market back up into the over territory now the magnitude of over 26000000 unemployment is being lost here and the economy will feel some of the delayed effect of unemployment in the coming quarters and now on top of that we also have a couple big macro about this week the fed and the e. C. B. Are due to announce policy decisions following the b. O. J. Now the b. O. J. Went all in this morning launching a new make you they have gotten rid of their upper limit of about 743000000000. 00 per year and will now be purchasing quote as much as necessary so we will hear from the fed on one than the e. C. B. On thursday to provide an outlook and what the response will be on how to continue to support the market the big question is what else can the fed do now with Interest Rates are already had 0 and buying up all the Corporate Bonds the only thing left is really what japan is doing right now and thats to start buying corporate stock as well you know kristie i want to talk a little bit about earnings because specifically about the Financial Sector here Deutsche Bank is actually surging on monday after beating 1st quarter estimates but it is warning of a 67 percent decline in profits year over year and as you said we could have a lot of earnings coming up this week what are we looking at in that sector and overall because i mean youre saying it looks like we could have a sell off i mean is that really whats happening is. Well right now the statement from budget bank was a surprise it sent shares soaring up about 11 percent today they have had a challenging couple of months racked with scandals and restructuring and laying off about 18000. 00 of that work force in its quote radical transformation and that restoring profitability so i mean confidence and sentiment in the name has gone down to an all time low here after the new or scandal that they were involved in last year to the point that it is now in the oversold territory and undervalued so now with its latest earnings front its giving investors confidence that yes this ship can you turn around and the restructuring plans to reduce and if it should are taking hold now so deutsche is kind of being used as the big canary in the coal mine now because it was already struggling last year before the coronavirus it so how it fares in the face of the challenging economic right now is going to be an indicator of how healthy european banks are so this will be right and i doubt that ahead of earnings out wednesday see where the final shoots fall that most likely i suspect were going to get a mixed bag earnings review from the robust goes christiane thank you we just stick around here because we have some more stories straight ahead that we want to get your take on and time now for a quick very tight because on the other side the oil sector is still in the wake of the drop in demand what could lie of store for energy going to break it all down and as we go to break here the numbers at the close. Seem wrong. Just dont. Get to see. This day. And in detroit. When so many find themselves worlds apart we choose to look for common ground. It out im fascinated by bad can the shomer protection labels they find out sick or add 3 find out household cleaning substances dont apply to Financial Products even though they should because many of them are hazardous to your health because theyre poorly constructed and theyre full of toxins. As the u. S. Economy was booming growing numbers of people when they did. You can work 40 hours in a week and still not have enough to get housing everybody believes america still has the lead up to the reality of it were not financially equality and the lack of Affordable Housing living minimum wage give many people no choice. Just been a problem with the city and always turn around and told me stay away oh miss. The most vulnerable or abandoned on the streets to become the invisible comes. And welcome back Us Oil Prices dropped by more than 25 percent at times on monday to the concerns that storage could soon reach deep. Asti as Global Demand continues to plummet due to the corona virus pandemic west texas intermediate futures for june fell by 27 percent to below 13. 00 per barrel at at the low for monday and International Benchmark brant crude also dropped by as much as 8 percent going below 20. 00 per barrel so lets take a look at the state of oil and the commodities effect on the overall economy by bringing back boom bust cohost christy i and rick rule c. E. O. Of Sprott Holdings thank you both for joining us again here rick i want to start with you or oil is now moving into the endgame as we will hit peak Storage Capacity by about mid may now the u. S. Oil sector is decimated with only about 378. 00 rigs out of 650. 00 still running what will remain of the u. S. Energy sector after all this is over. The u. S. Energy sector is very resilient centered schools who are. The real test the ritual is that people will still be trained should those simply need to remember if you are in the oil markets if you are isis prices there in fact that were running so if you really means that the shooter is already being worked on remember that the u. S. Production ridiculous or. The shia base production decline rates are extremely rapid so you will see production decline as a consequence of less sustaining Capital Investment in the restroom in the very near term of course i dont think anybody could estimate a circumstance where the consumption of oil would fall sassed as a consequence of the virus or being in winter as a consequence of consumption declines we would run out of storage there are literally is no place along the production and transmission line to cover any more oil and gas and its a circumstance that nobody could. See but the industry coming back yes absolutely the industry will come back it will be a mess. Markets are always messy but markets always work. Our and our record i think its interesting because we dont know when this whole thing is going to be over i think you know initially when we saw oil go below 0 last week you know the reason that was mostly because people said oh by june july numbers will be up but it will be back to normal so theyll be able they will be the demand and frankly thats not the case and we dont know when that demand is actually going to come back i want to i want to cover and i want to talk about Something Else erick because last week treasury secretary Stephen Newton actually selection suggested things that the government could do to help the oil industry including buying fuel for the country in advance although if stores are completely full well thats going to really work out but he also said that the government was open to taking an equity stake in Energy Companies adding that there were a lot more options as well but what do you make of this prospect of the u. S. Government taking stake in the u. S. Oil companies. That horrifies me i dont think the government does anything particularly well i would refer them to the better at doing well in gas Company Analysis and they are at things like delivering the mail. Its a bad use of. Taxpayers money and ultimately. Colin to size ation of the oil industry that would occur as a consequence of large pieces of government ownership would do more damage to the industry i believe tyrus its done let the markets work take the pain in the near future and the cure for low prices is in fact low prices. I would benefit if theyd. Put some feet of levitation oil and gas business but owners across the country need to understand that what lower prices are is a huge near term subsidy to consumers while rowell prices are very devout your meeting with prices are very good for the consumer economy if you think about the impact the stimulus that the governments are talking about the Oil Market Just give americans in years more stimulus than the government has and now kristie i want to bring you in here for a little bit of a a global perspective about this because what about the other countries who rely on oil as their main exports countries in the middle east russia and venezuela how are of bera counties being affected by this plunge in oil prices. Well lower prices certainly very good for the consumers as rick just pointed out saudi arabia they are suffering now due to the prices tanking out because this is the lifeblood of the 2 countries theyre the Worlds LargestEnergy Producer and both can actually sustain low prices for a while riyadh has taken a very aggressive position cutting its prices down to 5. 00 per barrel as theyre battling out exports to asia asias one of their biggest consumers right now however russia actually has a structural advantage over saudi arabia its closer to 8 and they already have an established relationship with pipelines and dealing capacity of up to 1600000 barrels through the pipeline so transportation from russia to asia is much cheaper than transport from the middle east where tankers are already in short supply now meanwhile to what you said with venezuela that economy is certainly doing much worse their production costs are much higher than saudi and russias and in line more so with the us what the us had before at about 30. 00 per barrel now 96 percent of their economy is driven by oil exports as all price war has kind of taken a tremendous toll on the local economy giving them given the tight tight correlation inflation has increased making its debt burden which is denominated u. S. Dollars ever the more painful the potential now for unrest in that country is very high as conditions worsen and now food supply is getting disrupted with the lockdowns now rick i want to transition a little bit here what about gold i know youre youre big into this is gold really that good of a long Term Investment as a recent survey showed that one in 6 americans choose gold as an investment what do you make of this. The fact that only 16 americans is attracted to go i think is one of the real attractions in fairness the market share that. Doesnt enjoys in the u. S. See things in a matrix is about one half is about one half of one percent pardon me the 3 decade mean is about one and a half percent so if gold just reverted to mean that would suggest demand for Precious Metals and precious related assets would in fact triple. Does well during times when people are concerned about the broader im producing power of sovereign currencies and in particular the u. S. 10 year treasury or my suspicion is that quantitative easing or is it should be known counterfeiting the basis of currency the 2nd thing is that the United States is running. Ever marger debt and deficits so that means that what we need to be concerned about the very critical ali of the issue are finally being Interest Rate your pain in the u. S. Can your treasury which is to say the way the preserve your purchasing power and your reward for taking risks is at least in real terms in a negative level my friend jim grant goes so far as to call he what youre treasury quoth richard 3 risk so gold challenge is to be another asset that offers richard 3 risks i think goes up to that and thank you so much rick rule c. E. O. Of Sprott Holdings and. I want to get your take on it all but alas we are out of time for today thank you both for your excellent info. And here thank you. And finally the Hubble Telescope is celebrating its 30 Year Anniversary in space to mark the occasion the team of researchers behind the hubble released new images of 2 nebulous in the large Magellanic Cloud a galaxy located roughly 163000 light years from mars in the shots you see the red nebula the n g c 2014 and the blue note below the n g c 2020 now nasa researchers say that these nebulas look like coral reef so they titled the picture cosmic reef meanwhile if that wasnt enough to satiate your interest in space today the u. S. Geological survey has released the 1st geological map of the moon the map which was created in tandem with nasa and the Lunar Planetary Institute is color coded so users can identify interesting geological features on the map also uses apollo era maps as well as recent satellite data to give an indepth look at the surface of the moon and thats it for this time you can catch boom bust on the brand new portable t. V. On smartphones through google play and the Apple App Store by searching portable t. V. And online at portable t. V. And as always you can check us out on you tube dot com slash boom bust so you next time. You. See. I was on the floor somethings and thats you know playing. Its time for the last. Hour. Having children fever i didnt have any sense of smell. Most young women world would you. Recently she was under the old this initiative. Simon is on the mound. I have heard and. Push myself how close are they for me in the 5 years ago time. As the u. S. Economy was booming growing numbers of people were made homeless. You can work 40 hours in a week and still not have enough to get housing everybody believes america still is the way of opportunity the reality of it is were not financially equality and the lack of Affordable Housing for a living minimum wage gave many people no choice. Thats been a problem with the city knows turn a bitch and told me stay away all this. Stuff before that there is no answer because yes the records resource the most vulnerable are abandoned on the streets to become the invisible class. Time after time corporations repeat the same mantra sustainability its very important to accelerate the transition to sustainable transport sustainability stay in her manner a more equitable and sustainable well. They claim their production is completely hamas. Got into compass and got it done this not to Companies Want us to feel good about buying their products while the damage is being done far away theres a 2nd eldest thats the point anyone and i mean lets skip the sun moves in unison we didnt want any minute einstein themed. Live from the World Headquarters of r t america in our Nations Capital this is the. Rick sanchez fan i want to get im rick sanchez to all of you who are watching us from all over the world whether youre watching us on regular t. V. Or on portable t. V. The we are so glad that you are here with us tonight we have to begin by asking a very important question one thats really dictated to us by by history and here it is with both the president s approval numbers and the u. S. Economy in a freefall is it time for us to wonder about a wag the dog scenario wag the dog you know is where you