This is boom bust the one business show you cant afford to miss and washington coming up markets are slumping on friday after the Federal Reserve put a halt to buybacks in the midst of the cold but 19th and them if we break down the ruling and what it means Going Forward and while the Airline Industry has struggled in recent months some big changes could be coming to the sector we take a look at some issues daunting the airlines and what the changes could mean for travelers we have a packed show today so lets dive right in. And we lead the program with the United States setting another record for new cases of cope with 19 on thursday with the nation seeing a spike in cases of certain regions attempt to reopen their economies Johns Hopkins university. Reported more than 40000 cases on thursday in the u. S. Eclipsing the previous record of more than 36000 cases reported in april this comes as the director of the center for the centers for Disease Control dr Robert Redfield said he estimates that every for every case reported in the country there are likely 10 other infections unreported meanwhile and speaking about the end of the 2nd ball outbreak the director general of the World Health Organization just how similar measures have been taken to fight the 2 diseases and spoke about what it will take to see an end of the coburn 1000. 00 pandemic its clear that to bring coded 99. 00. And to save lives we need effective vaccines national sticks and acts in unprecedented quantities and precedent to speed and its clear that because only people out of 19 all people should have access to all the tools to prevent detect and treat it not only those who can afford to pay for them. As we see this surge in new cases lets take a look at the Global Trends and spread of the virus with our 2 correspondents. So where are we today brands so the global case number it has now climbed to over 9800000 cases and the u. S. In the u. S. It continues to lead the world in both reported cases and also reported that so of course these are all indications that the pen demick is far from contained or over i should say but i want to take you through the numbers and i want to go over the u. S. 1st which this week recorded like you said the highest one day peak since late april and just compared to a week ago thats a 38 percent increase so all in all at least 32 states are reporting increasing cases now thats partly driven by the same states were going to reporting on all week which are california texas florida arizona North Carolina and georgia and right now texas florida and arizona all of which have resisted earlier measures that other states were taken are now actually starting to reconsider so texas reported nearly 6000 cases this week and some of the districts in texas had a nearly 700 percent increase just compared to the last 30 days so i mean thats huge now in order to contain the spread of the virus texas is now also scaling back their reopening plans by closing bars after they had initially been part of the states reopening plans now meanwhile the Florida Health department has also reported close to 9000. 00 new cases on friday and thats the highest one thats the highest single day increase and that florida has reported and florida has also had earlier entered into face who are reopening what is now deciding to suspend all Alcohol Consumption and bars since people really flocking to. Throughout the state without a proper social distancing guidelines of the Florida Governor has also once again announced that he will not mandate facemask requirements throughout the state now moving over to arizona which has so far reported more than 66000. 00 cases and is really in a state of prices as one in 5 tests are coming back positive brand now meanwhile Arizona Public HealthOfficials Say that the states i. C. U. Beds are nearly all full which is why arizonas governor is pleading with the citizens to stay at home if at all possible but once again has not impose statewide facemask requirements and brant right now whether all this increase that were seeing will be matched by a surgeon will actually depend on a number of factors like the age of those infected individual risk factors and the availability of medical care all of which will also depend on how the government continues to respond to the pandemic and started now how does the u. S. Compare to other places throughout the world so the pend make it still very much alive in other parts of the world too now brazil is still i hotspot for the virus the 2nd highest number of cases after us and as you can see i mean is just surging for brazil now india and mexico the average of new cases is also going up now russia is averaging about the same number of cases while peru only has a slight increase in cases now meanwhile the u. K. Spain iran and chile are all starting to somewhat flatten a curve but as we are seeing you know countries that are appeared successfully to contain the spread of the virus earlier are now seeing sudden spikes as they reopen and lifts lockdowns so all of this that youre seeing could change at any moments time arche correspondent thank you so much for keeping us up to date. There. Following thursday a spike in share prices for big banks friday was a whole different story after the Federal Reserve announced an imp they would impose new restrictions on the u. S. Banking system now this comes after its annual stress tests show that some banks may face huge shortages of capital under certain coronavirus pandemic scenarios joining us now just as juba hosted investigative journalist ben swan now ben in short what does this mean and what will the fed require banks to do. So essentially heres what happened in this really comes out of the dod frank bill going all the way back 220072009 remember when dodd frank was 1st put into action essentially with that legislation came rules where the fed has to annually stress test banks around the country to make sure that theyre able to weather certain economic scenarios essentially and so the fed ran these stress tests and what they found was there was kind of a general sense of Economic Conditions being rough and then they ran stress tests on 3 different coronavirus related or specific scenarios one would be a you shaped recovery one is a v. Shaped recovery and one is a w. Shaped recovery meaning that you come out of a recession and then you go right back into it and so essentially they look at these banks and they found that there were at least 30 banks that failed this stress test and what they found was that these banks under certain conditions are right at the minimum level of capital that theyre allowed to have underdog frank in order to not become insolvent and go under and so what the fed is essentially doing is saying for those 30 banks they will no longer be allowed to buy back their stocks and they will limit the size of dividends that can be paid back to shareholders at this time and i know you just mentioned that capping of Dividend Payments and require large banks to actually resubmit and update capital play of why is all of this well it is simply its because it is what the fed is finding is that under that dodd frank legislation these banks are not holding on to the capital they need to hold on to right now what theyre doing is theyre essentially playing too loose with the capital that they have the whole point of dodd frank was to say lets not go back into another situation where banks find themselves insolvent and where and where taxpayers find themselves having to bail out huge Financial Institutions that are unavailable to take care of themselves so god frank was essentially designed to say thats require that banks prove that they are being response. In the way theyre behaving and that they dont have to get bailed out and what essentially the fed found was 30 of those banks are not being that responsible and theyre really in a position especially with coronavirus related economics at play they could find themselves in a very serious position so again as you said there theyre capping these dividends theyre saying you cant be paying out to shareholders right now youve got to really hold on to what you have is so that you dont find yourself in a position where again taxpayers have to bail you out its fascinating because obviously you know so much of the economy relies on big banks but if you look at throughout this pandemic so many Different Industries have called for those bailouts and some of these are Gigantic Companies who are mainstays here in the u. S. Who are saying basically well go under if we have to stay close if youre like how are you operating on that razor thin margins at least banks are to some sort being held accountable in that situation now on thursday christie and i actually discussed the rolling back of the volcker rule how does this move by the fed impact that decision. Yeah i think that what were seeing right now you know as you mentioned in the lead up here we saw you know stocks and banks go way of their doing well on certainly on thursday they were on news of this right and but what is that new saying the news is saying that essentially the feds are kind of laying back and saying remember the volcker rule remember the rules we put in place after 2008 to make sure we didnt have these problems lets loosen that up a little bit or lets at least loosen up our understanding of the rules were going to change the rule but will clarify gotta love the word clarify which means were going to apply new terms to this rule but its so important as you just mentioned something thats critical the essentially during this pandemic itself we do see a lot of industries that are going to the government saying bail us out the fact is it was only a little over a decade ago that wall street and banks and Financial Firms already had their moment and there was legislation put in place that said if we build you out today you have to act like this tomorrow so it doesnt happen again and now just over a decade later were not holding them to that and were going to talk about more about bailouts coming up in the show boom bust cohost and investigative journalist ben swan thank you so much. Thanks. With so much news regarding regulation and the ongoing coben 1000. 00 pandemic markets worldwide are mixed on the week so lets start in russia where the mo x. Is up for the week the index launched after our equity trading earlier in the week and the ruble neared a 2 week high on tuesday before weakening on thursday responding to a fall in oil prices but eased up on friday as oil rebounded and the country witnessed a fall in the daily number of new coven 1000 cases lets move to asia where the markets theyre all finished up on the weak u. S. Regulatory rollbacks for big banks the shanghai composite is green after fighting back from a slip on thursday over the International Monetary funds. Updated Economic Growth outlook but saw slight gains at the end of trading the composite was closed on friday due to the dragon boat festival holiday in hong kong the hung song finished up just slightly for the week investors remain cautious over the coronavirus outbreaks in the u. S. And around the world and the market was closed thursday for a holiday and slipped into negative territory friday ali baba shares contributed to that slip dropping nearly 3 percent in japan the nikkei is also up for the week gaining more than one percent on friday Softbank Group contributed to the big gains there with shares raising more than 3 percent the topics index also gained just shy of one percent on friday alone lets check in in india where the sensex ended slightly up on the week the index extended gains for its 4th week 2 of the best performers on the sensex were infosys and bank infosys alone surged 7 per cent on the week meanwhile the a. S. X. In australia is down just over half a percent for the week after thursdays sharp losses the index gained 1. 5 percent on friday adding 26000000000 dollars in the final session still not enough to rebound from thursdays losses and bring the index back into the positive territory the all shares in south africa is just slightly down on the week on wednesday the south african finance minister said the main budget deficit would widen to a record 14. 6 percent of g. D. P. In 20202021 with public debt topping 80 percent the country has continued to borrow money to help its ravaged economy due to cope at 19 so lets go ahead and take a walk across the studio to look at europe and the americas were markets have been mixed due to concerns over a 2nd wave of the coronavirus pandemic as well as economies were seeing reopened in london the footsie its down on the week it slumped throughout the week due to factors we just mentioned still the index rose on friday as saddam. Grew over more u. S. Stimulus now u. K. Investors are closely tracking brecks it as talks are scheduled to resume next week despite rising u. S. Coronavirus cases the german dax and the french cac they are both up on the week germanys back to a 10000000000 dollar German Government bailout package while reuters is reporting the netherlands has agreed to a 3400000000 dollar bailout to help air france and. Now moving across the atlantic over to brazil where the evil vessel is down for the week i. M. F. Projections released this week show an even gloomier forecast for the country the nations treasury secretary said the deficit could top 11 percent g. D. P. While the economy is said to shrink 6 to 7 percent the ex is down more than 38 percent year to date just north to mexico the b. M. V. Is also down on the week official data released on friday shows a record contraction as the countrys lockdown has devastated the economy particularly the Manufacturing Sector which plummeted 25 point one percent since march moving north to the u. S. All 3 major indices in the dow the s. And p. And the nasdaq theyre all down as the country saw a Record Number of new coronavirus cases investors are also digesting the Federal Reserves move to suspend share buybacks for banks and suspend dividends thats a big deal as well finally moving into toronto the t s x is also down on the week dragged by the Energy Sector that dropped 1 point one percent concerns grow over that spike in coven 1000 cases in the u. S. Which could stall the recovery. And just take an overall toll on the index as we continue to see more cases of coke in 1000 confirmed in the u. S. The world will be watching as the economy attempts to stay open as always we hear a boom bust well keep an eye on things and bring you the latest and that is this weeks Global Market walk. And time now for a quick break but hang here because when we return while the Airline Industry has. In recent months some big changes could be coming to the sector we take a look at some of the issues and what the changes could mean for travelers and as we go to break here the numbers at the close. We go to work so you can stream home for. Me so to add to cause or at least a need for good in each. Other than the human one. But on the better side going into the book are useless so let me just. Sort of. Move from learning t. M. Month to do i feel still leashed up korean missiles from the course for me which mrs jim that of ocean whos just woken up or forgot to chill the church. Confession that. We think you minds be soviet soldier dickys off the boot shes wearing. Huge which to the soul looks like the moon the opposable stick in your world with it and youll like it on the shore stuff or in the summarizing or police force sort of us all to. Join me every thursday on the alex simon show and ill be speaking to guests of the world of politics sports business im show business ill see you than. Was needed national will discover that already been imaging less of that solicit it was a propagandist you all said its your. You know youre talking not going to move into iraq. Which i saw. Lucifer missed that in the garden and im just playing. It is not my achievement mr davies out of 5 years of plans were conceived. And carried out by the people themselves who would produce or even flirted with the idea of making a film like this probably be branded as crazy. That was the sentiment during the war the soviets were brave heroes resisting the nazis thats going to change of course after the war but once the cold war begins. Little people think that hollywood is a free place with is strictly defined by the business and this ideology. On it is a call to dream anything which thinks true. Its a propaganda film. And welcome back labor unions representing thousands of airline employees have asked us lawmakers for another bailout as demand has plummeted due to the pandemic you were member us passenger and Cargo Airlines as well as a series of contractors received a 32000000000. 00 in aid as part of the 2 trillion dollar cares act back in march now the terms of the aid prohibited airlines from cutting jobs or lowering pay rates for employees through the end of september. The latest ask from the union consists of another 32000000000. 00 which will protect jobs until the end of march 2021 u. S. Lawmakers are planning to start negotiation on the next real relief bill next month a letter from the unions in question calls for a clean extension of the cares act saying this is the simplest and fastest way to maintain congresss historic commitment to keep aviation workers on payroll many of whom are on the front lines of this deadly virus now for more on this in the state of the Airline Industry lets go ahead and bring in gary left offers of due from the wing gary thank you so much for joining us always appreciate having you on here now were seeing this latest call come from the unions representing Airline Workers and basically saying that they want you know to make sure these people are on payrolls till may it would hurt to march of next year which is totally understandable but really what theyre also saying is they dont expect travel demand to be picking up before this years end and i just read on view from the wing today that some airlines are starting to talk about selling at full Capacity Starting july 1st so what do you make of all of this. Well airlines are recovering theres more travel than there was now last week 2 weeks ago a month ago and thats probably going to continue with some stops at some starts but at the end of the year the airlines are going to be smaller than they were others not strangle them and then there was and thats going to be true next year and probably in 2022 also so all the airlines are going to need fewer people at this point a bailout isnt like the original idea that maybe it would just be 6 months and everything would be back to normal we now know that airlines are going to be smaller in the future need fewer people in the future so paying to keep people attached to their employers simply delays moving on to their next opportunity because if we keep everyone on payroll till march then theyll be let go at that time and there was a lot of back and forth regarding this 10000000000 dollar bailout of germanys Largest Airline live thousands over the last few weeks of their life that it was essentially out of money and risk bankruptcy how crucial is it for this government to continue with these bailouts to prevent these companies from going fully under as we just talked about maybe actually happening at some point here. Well so if the bankruptcy rules are going to be married by travel then and the. Gate the planes are all going to still be there for new investors to take over bailouts are primarily bailing out equity holders and bondholders and its certainly i think appropriate for taxpayers to ask whether those should take care of us before taxpayers are on the hook and now meanwhile the e. U. Is actually set to rule on whether they will open their borders to americans in the coming weeks now how will barring americans from visiting europe especially over the summer months when the when Summer Vacation not that i dont know whether you should be vacationing amid the pandemic but that is what were looking at how its going to affect the industry Going Forward. So that it varies by airline an airline like southwest or like alaska who is predominantly a domestic carrier isnt going to be affected nearly as much as United Airlines were a 3rd of their seats are international the inability to carry passengers is going to delay recovery quite a bit but its certainly something we expect to see not just from europe but many Asian Countries are going to remain off limits to the u. S. As well and now some executives from airlines here in the u. S. Were actually set to meet with the Trump Administration today friday now according to those reports one of the big points was going to be the industrys push for a federal mandate on temperature checks for passengers are we going to see a whole new set of requirements for air travels or air travelers for the foreseeable future i mean not to say that is similar to what happened after 911 but after 911 the entire way we flew changed. You know i think that here we have a situation where its not even clear the legal basis for the t. S. A. To do temperature checks probably requires legislation and if they move forward its going to be its going to be Health Security theater because there are certainly positive people who dont have femurs there are people who arent yet showing symptoms yet who are spreading the virus carry left author of view from the wing thank you so much for that expert insight into the Airline Industry. And the quest for finding life on other planets continues but scientists arent simply looking for signs of life with water or an obvious form of existence and thats a great focus on extraterrestrial intelligence outside our solar system using an unusual method archie correspondent sasha sweet has more on this study and how scientists plan to find signs of other technical logical civilizations. Scientists have discovered a new way to seek out signs. Of advanced alien civilizations through and nasa grant scientists are conducting a study to find extra terrestrial intelligence outside our solar system but its not as plain and simple as it sounds when scientists have tried to find early in life on exoplanets through gases such as oxygen or methane the search is obvious as both point to some type of existence but here on earth signs of life may not be as natural with pollutants artificial lights and even Tall Buildings these fingerprints are called techno signatures and now the nasa funded study is looking to see if there are comparable techno signatures visible outside of earth one of the study authors saying these techno signatures of advance ilian technologies could be similar or perhaps more sophisticated than what we possess the team will reportedly focus on solar panels and air pollution as techno signatures in this study solar panels are created with an ability to absorb particular wavelengths of lights and reflecting others scientists believe Something Like this could be detected by way of a telescope when studying exoplanets when it comes to air pollution the team will be looking for artificial gases that dont naturally occur in nature Scientists Use the example of aerosols which they recently discovered were destroying the ozone layer scientists behind the study are hoping to find out more about extraterrestrial life not only here now but also in the past reporting for boom bust natasha suites are. There and thats it for this time you catch boom bust on demand on the brand new portable t. V. App of elbow smartphones through google play and the Apple App Store by searching portable dot tv can also go to horrible t. V. To get more information and you could find it on a bevy of smart televisions see an x. Time. Nuclear become a battleground in the u. S. People of demanding the shutdown of a local plant for my yankee is right now my focus because its a very dangerous. Power plant the owner is attempting to run the reactive beyond its operational limits this case just sort of puts a magnifying glass on wheres the power in this country where is it going is it moving more towards corporate interests or is it more in the idea of a traditional participatory democracy is power line with the people this case demonstrates that struggle in very real ways. As the culture war d rages on and they did the billionaire class is only getting well youre theyre well iraq 20 percent or 584000000000. 00 since the start of the endemic. How will this fact sheet to complete coverage and is a permanent underclass in the north. Hello everyone lets take a look at todays menu to see what were serving up on. You are a bachelor. And interview or a dating service too high profile female journalist for an all over the very eligible bachelor governor of new york well ignoring his nursing home scandal and im joe land of the accuracy in media ways in what they call all of their being woke and they cancel culture will it affect the likes of howard stern jimmy kimmel and jimmy fallon and others who are on the left and are now saying sorry for past blackface skits and im not a racist scottie no use in line will weigh in dr anthony found she originally lied it was about the effectiveness of