Telegraph radio used right before the ship sank to the bottom of the ocean well tell you all about that all right its time to use i. Fed chairman Jerome Powell is testifying before Congress Today on the health of the u. S. Economy in a current and post pandemic america hell be cruising in on the good morning news from the retail sales sector posting the best data they have seen in a while so for more analysis and discussion lets go to ben swan hes an investigative journalist and cohost of boom bust and host of news with Rick Sanchez Rick sanchez gentlemen good to see you both ben i want to go to you 1st have we finally turned a corner since the pandemic hit and also whats driving the market. Where. We got some very good numbers as you said in terms of the numbers for may and retail kind of coming back about a 17 percent increase in retail sales that was not expected and it shows that obviously people are anxious to get out and to spend and get back to normal weve seen some reopening you mentioned before we went to the break though that we are seeing a resurgence of cases of coronavirus in certain states Alabama South carolina are 2 of those states thats not good news for the economy because the question becomes is there Consumer Confidence and is there also a confidence that states wont shut down and therefore cost businesses have to close their doors again and have to lay off workers again we saw about 12 to 20000000 workers now coming back into the workforce in the last month as well and thats also good news but the question really comes down to where do we go from here do we continue with the upward trajectory to have more of a v. Shaped recovery or do we have what looks like were going to recover and then we dip again because of a new set of shutdowns while thats certainly possible you and i discussed yesterday how the u. S. Economy is in shambles but you know what this mornings retail Sales Numbers will that provide new wind beneath my pump ales wings as he goes in to meet with chinese officials in hawaii. No i dont think so i mean i dont think anybodys going to be fooled by the. U. S. Economy was some were. Well just look at unemployment numbers we were at somewhere around 4 percent. Because people were talking that it might go to 20 percent were supposed to be celebrating now because its somewhere between 13. 14 thats like saying when i took something away from you and then i gave it back to you would i be a great guy well no why do you take it away from me in the 1st place right so were still a bit of a quandary economically and i think makes a great point about the fact that we really dont know i mean seriously i mean we dont yet know how this pandemic is going to play out in our country. Will we have a 2nd wave will we not have a 2nd wave will people be afraid of it will people not be afraid of it will the vaccine mean the end of it or as some people suggest is this thing going to continue for 2 or 3 years because theres even the possibility that it could mutate after the vaccine so theres just so many questions that have to be fed into this thing that its almost impossible to say oh sure once this happens everythings going to be ok and i think for the most part those questions lead to market volatility as well right now everybodys putting money into the market because i think theres a lot of money thats being put in helicopter money but thats going to run out of some point to all right so it sounds like from the both of you you think its too soon to throw a Welcome Back Party so. What is your own power predicting for a post pandemic kind of me and what tools does he have available to handicap americans afloat. Well essentially what the drone policy is that it all depends on Consumer Confidence and that consumers and businesses have to believe that government has control of the virus before things can get back to normal whatever normal becomes heres the problem is that right now the market and theres a big difference between whats happening in terms of unemployment and main street and businesses Small Business in this country and whats happening on wall street theres a big difference there wall street is being completely propped up by the fed right now the fed is as a whole series of tricks in order to kind of prop up markets and keep it going you know kristie i talked about this a lot the bad news is good news scenario that essentially plays out what the fed meaning every time theres bad news its ok its really good news because it just means that the feds going to come in and fix your money problems for you where theyre going to pump more liquidity and the real danger of whats happening right now is that we are becoming you know increasingly close to a point of crashing the dollar if we continue down roads of printing money to no end bailing out every business possible and spending to the rate that were spending because of the troops asking for another try. Dollars in spending these numbers are phenomenal in terms of the effect and the damage they will ultimately do to the economy and no one in washington right now where even nuff to stand up to that. And where is the accountability i mean these are questions we as journalists we would be foolhardy not to ask the questions if you continue writing these checks and we have to ask at some point where in the hell are they going and who is checking to see that theyre going to the right people or d the right places so they can really improve our lot in life as americans because look President Trump whether you voted for him or you know you love him or you hate him he a Mother Teresa ok so the fact that the president is putting out all this money and we dont really know whos actually getting it is something that we should all be wondering about at the very least and as ben says how many check out continue can you continue to write rick i want to stick with you for this next one i mean mr powell has been warning that small and medium sized businesses are going to be hurt the most and possibly never really recover after this pandemic so you as an entrepreneur yourself what are you hoping to see the fed do to help folks like yourself out. You know ive always been a big believer in the bottom up you know youve got to put the money at the level especially in terms of main street. Not wall street but if you could somehow come up with Something Like what f. D. R. Did and create some foundation where people would feel better about themselves you know the expression you your parents probably told you this is some point you give a man a fish eats for a day teach a man to fish eats for a lifetime what this country needs more than anything right now to solve this coronavirus issue is Contact Tracing we just need we need to know whos in moon who is it whos had it who has it now who hasnt had it who might have it in the future. And that means we need to hire about 50000 americans to go out there and execute this its the perfect scenario for the president of the United States this administration that acts to ever governors to literally employ americans give them a salary to do what is most needed right now with america and it beats the hell out of just giving them a 1000. 00 a month or every 2 months job creation on that one and then im going to be the last word on this final thoughts just real quick i disagree with the contact tree seen crazy about that idea because i think it creates too many other bureaucratic problems but i will say i think just testing in general why are we still not testing the population to see who actually is corona virus and i want to antibodies around thats a huge problem and lastly i just point this out because something rick said earlier which is absolutely true the trumpet ministration has been actively working according to inspectors general across the country to prevent inspectors general from being able to catalog and to track where government money is going the fact of the trip with ministry is blocking that is a huge problem and that kind of a weird red flags are separated. By the way im. Sure that im one for 2 with and so on that one. Are you guys i got to leave it right there we could keep going on always a good time very informative ben swan and rick sanchez thank you so much. Thanks and thanks. And over in france where rival apnic groups have squared off for a 4th straight night extra Police Forces have been deployed to dijon region where violence has resulted in 10 injuries so far residents this mostly chechen immigrant communities say they feel abandoned by local authorities similar clashes also about that in the mediterranean city. And over to japan where dark smoke could be seen pouring out of a passenger cruise ship docked along the city of yokohama firefighters were seen on the ships deck earlier. To date no passengers or crew were on board it is unclear right now whats causing that smoke on the asuka 2 cruise ship and investigation is underway. And back here stateside californias Largest Utility Company p. G. And e. Today pled guilty to 84 felony counts of Involuntary Manslaughter those charges stem from the 28000 wildfire that killed 84 people and nearly wiped out the entire town of paradise in Northern California p. G. And e. Has agreed to pay nearly 2000000000. 00 in fines. And 108 years after sinking to the bottom of the Atlantic Ocean the titanic is making headlines once again a salvage expedition to the wreck site is scheduled for this summer in hopes of retrieving an important piece of history but the mission is being opposed by the u. S. Government alex mileage has that story. A legend that was supposed to be unsinkable never made it past its Maiden Voyage in april 912 the titanic was traveling from southampton england to new york when it struck an iceberg killing roughly 1500 of the over 2200. 00 passengers and crew on board today the ship lies at the bottom of the atlantic about 400 miles off the coast of newfoundland canada the wreck is nearly 2. 5 miles deep and within it lies an important piece of history marconi wireless telegraph machine that is credited with saving hundreds of lives when tragedy struck now r. M. S. Titanic inc an atlanta based Salvage Company wants to extract and exhibit the machine that was used to broadcast the ships final distress calls while some see this as a noble venture the u. S. Government has a different point of view all the artifacts have been collected from the ship in the past they intrusive nature of the proposed mission is a big part of the reason the u. S. Government is saying no to this expedition to salvage the marconi telegraph it may be required to cut into the roof of the ship so that an unmanned submersible can enter the wreck and extract the machine according to u. S. Attorneys that would equate to breaking the law they say the mission which is scheduled for august cannot go forward without the blessing of the secretary of commerce since recovering the telegraph would physically alter or disturb the rock in addition an agreement with the u. K. Regulates entry to prevent disturbances to the whole and other artifacts and human remains according to the governments filing the International Pact calls for the titanic to be recognized as a memorial to those men women and children who perished and whose remains should be given appropriate respect in may a u. S. District judge agreed with r m s t the Salvage Company that the marconi telegraph is historically important judge rebecca beach said that recovering the equipment would contribute to the legacy left by the indel. The loss of the titanic although the ship wreck is rapidly decaying currently much of the titanic is intact and its hard to overlook the possibility that any mission to the wreck might discover more than just the telegraph one argument from the u. S. Attorneys is that 20 years ago or a misty plan to access the cargo hold of the titanic in search of 1st class luggage meal and alleged diamond stash while the atlanta salvage firm says this mission is different some believe the company has a lot of money invested in the wreck and that it will try to turn a profit either way to get to the ship the salvage firm will have to navigate through the courts 1st for r t im alex marvel bitch. 100000 jobs in the gas and oil sector here right here in the u. S. Are lost due to the pandemic were going to discuss that with our next guest at a later at the over again a ham share of the incredible tale ive been durant from one german ultramarathoner and remember to keep up with all the latest news that anything you might have missed i love the new portable t. V. You can catch there 247 didnt catch me here. We go to work you straight home. To take away then from this hurts to where its a 2000000000 dollar negative net Worth Company worth 400000000 and theyre issuing International Bankruptcy offering fresh deal of stock they take away the news the information the fact is has nothing to do with hurts the current the company it what it says is that the dollar is collapsing the dollar has entered a high burn flush narry collapse and this causes people to run into things like fictitious stock markets as weve seen in zimbabwe as we see it in venezuela this is whats happening in the United States right now as of today. The peoples republic of china isnt a nonconformist utopia or a politically correct ill take your dig nonetheless the experiment being played out in seattle is no laughing matter the ideas of law and order and illegitimate use of force are at stake a piece of advice go visit jobs before chest visits you. Can. Retail came roaring. Back we learned this morning a welcome surprise to most keeping an eye on the markets but while retail is up the ongoing pandemic is leaving traders in limbo especially those eyeing energy in texas that state experiencing a resurgence of coronavirus cases after reopening just a few weeks ago now this as beijing has elevated their containment efforts shutting down schools and businesses after dozens of new code cases sparked fears of a 2nd wave there so joining us all the way from bangkok thailand mr stephen n. S. He is the chief Global Market strategist at acme trader and an expert in asian markets so stephen good morning to you 1st can i bring you back stateside what do all markets look like right now to you given that texas is seeing an uptick in code cases is that shaking energy. It really gets like i think the all markets extremely sensitive to any negative headlines and obviously a resurgence of covert brings back memories of that absolute demand devastation that we experienced back in march where were really really what the case is now is the policy transformation and how it affects the markets thats the key here whether state or. Countrywide governments will start to reimpose a board draconian form of lockdown measures or whether theyre going to deal with these on a proximity basis as were seeing in beijing right now where there is just a small pocket that seems to be getting isolated so that suggests that the draconian state that we are in the 1st half of the year is it going to happen this year governments are going to dry their best to keep the economy open but if we do get a secondary super spreader i dont see how thats possible well have to take extreme measures and of course this is a sum of all fears in the markets right now especially in the fragile state of the Energy Complex and now stephen we saw a retail come back with some good news today. As fed chair Jerome Powell testified before congress but hes expected to deliver some grim news for the outlook of the rest of the year for the economy wouldnt you agree with that sentiment. You know i think its wise to err on the side of caution i think what were seeing on the retail number is that pent up demand hitting the markets and you know everybodys coming up with their government checks in hand right now and this is actually quite good it suggests on the one hand the fear of the secondary spread house and actually said in god so if people feel comfortable coming out of the house and spending money thats very key to this recovery because its going to be a consumer driven recovery over here were not seeing that same propensity if you look at china retail sales its been lagging suggesting that consumers arent convinced that the coverts possible this narrative in my view is going to be continue to be front and center for the next few weeks at least 3 to 6 weeks until we start to see the trend and covert 900 case counts diminish again but getting back to the chair powell i think hes going to paint an equally dour picture here and this may weigh negatively andras sentiment but what seems to be a problem for a spark as these days every day we commend the markets are higher except for a few odd days here and there so im not sure if its going to be sufficient enough to wait negatively on sentiment Going Forward and now over to your side of the world you touched on it briefly beijing is starting local shutdowns again after some 50 people or so have tested positive for corona virus can you give us a breakdown how are the asian markets responding to these new cases. Of course is a little bit of concern you know i but weve got geo Political Service in the background also which is adding a more negative negative negative due to the flows but generally the way the market is viewing things in asia all of the countries locally have taken extreme measures when it came to lock down they were very very proactive out of the gates to get proficient. Treece untracked methodologies that theyre using the borders are locked down here so the only way you can get it in is is if it resurges again this is a one thing unfortunately the beijing situation is being blamed on imported salmon we have to see how that plays out and whether that is the truth behind behind the music here but we just dont know what this stage it will take a little while to figure it out but overall we think that the measures taken here in asia are sufficient enough and proactive enough that theres not going to be a widespread outbreak of cold food and if there is you know incident here or there the markets or the government will be proactive enough to stop it its tracks relatively quickly ok and real quickly japans nikkei dropped almost 3 and a half percent on that news yesterday do you view this as a precursor to another lock down going from east to west again and what might that do to the Global Economy if we do face a 2nd shutdown in q 3. Be absolutely devastating i think this is why youre seeing the markets react hedging those risk especially going back into the dollar safe haven and paring back some risk and Global Sentiment right now is just a natural reaction that we have to defend against the worst outcome scenario which would be absolute devastation if we had a secondary break of a magnitude of that we had in the 1st half the year all right so markets playing it safe mr stephen it is actually trader thank you so much for your expertise. The United States is ramping up the targeting of its political foes and going to Great Lengths to push for suspects to be extradited from the u. K. Canada and now even cape verde but is it worth the hassle for rivals who dont pose a direct threat to the u. S. Our 3 top levels is joining us from the news room with more to the story rachel well no washington is now calling on a small west african country to extradite a suspect who they say helped to both iran and venezuela undermine u. S. Sanctions the island nation of very day has confirmed it will hold. Suspect alex for the next 40 days after he was taken into custody on friday they say they are still waiting for a formal extradition request to be submitted by the u. S. That colombian businessman was indicted by the u. S. Last year on federal Money Laundering charges he stands accused of funneling 350000000. 00 that was meant for the poor and hungry in venezuela to overseas accounts he has also been accused of helping venezuela make deals with iran to Exchange Gold for oil despite crushing u. S. Sanctions on both countries the arrest has been met with heavy criticism from Venice Whalen with the countrys Foreign Ministry arguing that sob should be released because he was taken into custody want to business trip to iran to have chain food and medicine for Venice Whalens battling the coronavirus venezuelan president Nicolas Maduro is facing his own battle with the u. S. And after months of trying to ministration officials increasing sanctions and pushing for the leader to be overthrown the Justice Department charged with narco terrorism and drug smuggling in march the state department then offered a reward of 15000000. 00 for information leading to a duros arrest meanwhile the u. S. Is also calling on canada to extradite wall ways chief Financial Officer after she was arrested in december 28th seen. The daughter of always founder stands accused of attempting to undermine u. S. Sanctions by pursuing business dealings in iran but she is now fighting back and arguing that the case should be dropped because the u. S. Abused the extradition process by presenting inaccurate and false evidence to the Canadian Court in a statement a spokesperson for chinas Foreign Ministry called the case a political plot targeting china and walked away amid increased tensions with the u. S. The Chinese Government is determined to see if god the legitimate rights and interests of its citizens and enterprises we once again urge canada to take our solemn position of concern seriously and immediately release miss. To ensure her safe return to china. Also facing extradition to the United States as we gaelics founder Julian Assange the publisher who stands accused of violating the espionage act is currently being held and one of the u. K. Strictest prisons despite warnings from dozens of doctors that his health is in jeopardy but when it comes to political rivals abroad the u. S. Has shown little mercy instead it seems to use these figures as a symbol to the rest of the world and to anyone who challenges u. S. Sanctions or policies. All right now to the latest covert 900 numbers a worldwide case is now topping over 8000000 and some 438000 reported deaths the top 3 countries with the most confirmed cases the u. S. Followed by brazil and russia the u. S. Still leading the way with 2100000 cases and about 116000 deaths but a number of cases on an upward trend in more than 20 states now after reopening the economy. And meantime the u. S. Department of transportation is now easing restrictions on flights to and from china the u. S. And china will allow each for weekly flights between the countries the decision comes after chinas Civil Aviation authority allowed delta and United Airlines to restart their service the d. O. T. Remains in open negotiations with china. And over to the u. K. Where scientists at the Imperial College of london began immunizing people with their experimental code 19 shot its the latest in the race to find a vaccine about a dozen vaccine candidates are in the early stages of testing with hopes that a vaccine could be reached by the end of the year now the british governments goal is to immunize 300. 00 Healthy People with 2 doses of this vaccine. Lets go over to regina ham at the sports h. Q. Regina runners arent going many places literally do to cope at 19 but one athlete found a way to beat these quarantine blues because you know thats right michele running is really the last thing on anyones mind during a Global Pandemic but one of your main man decided now is as good a time as any to achieve a pretty remarkable feat that man is 39 year old runner Martin Chandler who spent the past 4 days running 184 miles chandler is an ultra runner and is used to long distances but wanted to rediscover his home region of starland in germany which actually borders since he started the route in his hometown of saddam blurted before taking a trip up the tallest man in the region totaling 20. 6715 vertical feet his impressive track just had a Training Team to help him along with that to make sure he actually kept a consistent pace to not exhaust himself during the 96 hour adventure we hope he slept but this really isnt anything new to shed learned he participates in runs all across the globe and 3 years ago made headlines for running 74 miles from silence lowest point to the highest which is pretty impressive that is a lot of motivation for me. Definitely thank you for that good news regina hamm and that does it for me make sure you keep up with everything and question at all times by downloading our brand new free app it is called portable t. V. You can catch us there 247 its pretty cool though check out you can follow me on twitter at manila chan that is the name and number crunching more on the suit. And larry king. Live being learning you know ive always said i never learned anything when i was talking its important to listen. Horse sure the more. Is your media a reflection of reality. In a world transformed. What will make you feel safe. Isolation full community. Are you going the right way or are you being led to. Direct. What is true what is faith. In a world corrupted you need to descend. To join us in the depths. Or remain in the shallowness. Join me every thursday on the alex simon show and ill be speaking to guest of the world of politics or business im showbusiness ill see you then. In the troubled 19 seventies a group of killers rampage through parts of Northern Ireland that was coordinated loyalists attacks particularly catholic population tens of thousands were forced to flee their homes come up with stray can put these attacks was a p. R. You see the Police Actually took part in the attacks so instead of preventing it they were active participants in the burning of the streets in belfast at the hague more than a 100 innocent civilians were murdered as the review can seniors and we found out more i was surprised about the extent and of secrets which the collusion was involved in some of those cases the killers would lead to be named into the enemy getting i think it went to the very very top i think it the cross the water where all the taishan you thought was going on and give the go ahead. He supported donald trump and now says trump is an unfit authoritarian con man former republican congressman joe walsh on this of politicking. One of the problems again im larry king in show one German Congress as a tea Party Activist supported donald trump and torney 16 and then challenged him for the republican nomination joe walsh radio in podcasts host now says the president is an unfit authoritarian con man hes also the author of f silence calling trump out for the cultish waronker of thord jerry and con man a year