This comes as regions across the country allowed for more businesses to reopen and with an increase in Consumer Spending well President Trump wasted no time celebrating the government report and took a victory lap as he said the recent number proves the countrys economy is roaring back todays announcement proves that our economy is roaring back its coming back extremely strong all coming back coming back faster bigger and better than we ever thought possible these are the numbers these are not numbers made up by me these are numbers and as i said you are going to have a fantastic 3rd quarter it will be the 3rd quarter the likes of which nobody has ever seen before in my opinion. And the good thing is the numbers will be coming out just prior to the election so people will be able to see those numbers the 4th quarter like was will be extremely good and maybe most importantly from the standpoint of our country itself next year will be. Stuart year next year is going to be an incredible year for. Companies for growth things are happening like nobody would have thought possible while Many Companies began rehiring in may and june a recent surge in corona virus cases is forcing some states to haul or even reverse plans for reopening now keep in mind there are still 17000000 americans who have lost their jobs and have not yet been rehired well this comes as congress is working on another possible round of stimulus republicans seem to reject the democrats push for 2000. 00 per person a month but even President Trump seems to be open and to support another round of stimulus will the u. S. Officially entered a recession in february for more we are joined by boom bust cohost. And swan christine lets start with the obvious question here the numbers smashed expectations is there something were missing here there seems to be a bit of a disconnect from reality where were seeing more states halt their reopening or even close back down where is this economy going. You know so top pros who lead but i think its way too soon to say that the economy is warring back the thing is the Government Survey this came out in the middle of the month so it doesnt actually account for all the suspensions or rollback youre talking about in the regions hit by this resurgence and coronavirus cases and even though it was a good trend employment is still at 9. 6 percent below its regular in level with job gains and more importantly were talking about wage growth here are slower on average so average Hourly Earnings fell about 1. 2 percent from may and the average workweek also slipped at 34. 5 hours and right now new jobless claims are still pretty high up there with another 1400000 americans filing so right now the industries that have rehired the most are primarily in Leisure HospitalityIndustry Industries that are known for getting shut down right now with the resurgence so while it was a great headline friend that boosted the markets temporarily theres also a lot of i know detail that needs to be pointed out that do not paint such a rosy picture exactly and i think its really important to highlight what you just said that this does not account for the last 2 weeks where weve seen several several states that halt their real openings because of the resurgence of cases then is this market really just responding to the stimulus provided by the Federal Reserve it seems to be reacting more to these headlines like we said we still have 17000000 people unemployed in the country. Yeah absolutely i think because he was spot on there the reality is this is that when we talk about whats happening with wall street you have an entirely different set of principles in effect as compared to whats happening on main street so were talking about the wall street effect absolutely look theres cheap money out there the fed is pumping tons of money into the into the system and as chrystia likes to say im quoting here you know a bad news is good news right so its that kind of mentality on main street however where Small Businesses are operating number one is you both have pointed out these numbers are 2 weeks old but number 2 and this is very important to remember too that even for businesses that are open. At this point the ones that have not been shut down the ones that are reopened are still only able to operate at half capacity youre allowed to have half as many people inside of restaurants in many cases staff is not about 100 percent and so you have reduced hours you have fewer people working and so its going to take time to get back to where youre supposed to be the reality of where we are and you mentioned about going into research a recession in february is that we are in a recession right now and the effects of what happened with the coronavirus lockdowns are not fully being felt yet those will be felt so every month still down the road when Small Business owners havent been able to store up anything and to save up when these programs like p. P. P. Didnt really come through for Business Owners and when workers find themselves still being shortchanged eggs ackley especially because we could be looking at a possible new recession but kristie following the numbers report the u. S. Dollar slid point 2 percent but the dollar also gained against the yen why is that. Also the u. S. Dollar and the japanese yen both of them are defensive currency so both of them were trading actually with a mild positive bias throughout the entire session in asia overnight session prior to the u. S. Jobs report and traders were anticipating and expecting the worst so they shifted into these very defensive positions as we just said it came as an utter surprise completely when it came out better than expected so subsequently these positions were quickly reversed and the u. S. Slumped as the markets then rallied and traders had to reposition into more risk high beta assets in order to lock in and not miss out on this rally as they have been for the last 2 months so right now the dollars appeal as a state haven it kind of diminished as traders now think that it is full risk on as this report at least on the surface supports that insist that a recovery and a balance under way and thats the same story but that yes the dollar and nesters are not warded right now for being cautious and playing defensively in this market it doesnt look like theyre being extra cautious especially because like we said weve been saying time and time again the Federal Reserve just. Popping out more stimulus and they know that they have something to fall on so so really where is the supreme market kristie and then a cohost of the us thanks for being with us i am here because were going to bring you right back for later in the show to talk about cryptocurrency. The pandemic has quite an impact on the economy and veterans are hoping to take advantage of opportunities in real estate are to correspondent we have the details on why some believe parts of the Housing Market may be immune from the uncertainty of crown of virus while the unemployment level has improved since may adding 4800000 jobs in june millions of americans are still without work and some wonder if it will last as restrictions are slowly being implemented once again after a resurgence of kovan 1000. 00 cases in states like california and arizona for many uncertainty remains but according to some economists investors in the u. S. Are looking on the bright side when it comes to real estate with historically low Interest Rates it may be a good time to invest internationally running but may end of real estate trend alert says bind overseas gives an investor a better chance of seeing a greater return during this crisis but main suggest places like mexicos riviera maya colombia and places in europe like italy and as some are not commuting to work this may also impact the markets there has been a trend of people inquiring of real estate in more suburban areas outside of major cities and as for commercial Properties Investors are looking to take advantage of these all time low prices in the United Kingdom home prices are on the decline the most they have been in the past 11 years the nationwide price house index for may revealed a drop of 1. 7 percent from april a reuters poll revealed the cost of real estate in london was expected to drop a whopping 5 percent this year before rising 2 percent next year and 4. 3 percent in 2022. And now hong kong in Mainland China are taking advantage of the cheaper prices in london snatching up as much real estate as they can buyers from this region add up to 15 percent of the International Transactions above 1220000 dollars and 20 percent of real estate priced above 10000000. 00 and a trend happening in Mainland China some real estate firms are looking to list their businesses in hong kong and at the same time investing heavily in places like singapore and bali where tourism has taken a catastrophic hit for some as the pandemic carries on into the summer despite the challenges many investors are looking to pull the trigger on Real Estate Property both domestically and abroad reporting for us natasha suites. For more we are joined by a Mortgage Broker specialist and c. E. O. Of deal b. Mortgage real estate and Risk Management boyd good to see you thanks for being with us today thank you lets start with the u. S. Down despite the coronavirus mortgage demand had been rising this is now the 2nd straight week where were seeing Mortgage Applications fall theyre down one percent from the previous week is this a sign that its now slowing down for the long run i dont think it is slowing down i think people are busy theyre busy with their lives are busy trying to figure out where their jobs are going to take im making sure that they have jobs taking care of their families its not on the top of mind awareness this is the 2nd wave of refinances so they were much busier in march when the rates 1st dropped but a lot of those people have already refinanced now and now were getting to the people that are kind of slow to pull the trigger anyway though refinance it just may take them a little while well and speaking of refinancing it did fall 2 percent but it isnt a 4 percent higher than it was just about a year ago are we going to see Something Like we saw during the 2008 housing bubble crisis. You know the reason that the housing bubble crisis happened is there was a lot of people that shouldnt have loans with those high risk sub prime loans and i lent on them to we all had to but now you know the restrictions changed after 2008 so were not a longer giving loans to people that cant afford to repay them all those subprime loans went away so that people have had to put at least 3 and a half percent down to be on f. H. A. Loans or 5 percent for conventional loans the Credit Scores had to be better so i think were not going to see that again were not in that same situation again are we going to see some of these Interest Rates a once again go go down for real estate. You know i dont know how much lower they can get ive got rates as low as 2. 99 right now on a 30 year in the 15 years or mid tuesday so thats pretty darn low i cant imagine it going lower so a lot of people have been waiting on the sidelines for them to drop i just dont think theyre going to drop much more its almost free money now yeah a lot of people still are still waiting on them to hopefully drop but rent forgiveness and mortgage forbearance programs that they have been set in place due to the pandemic they are set to expire though are we going to start seeing these massive actions are or will they somehow be extended whats going on there. You know a lot of people took advantage of all of that forbearance policies because they thought it was free money and what theyre finding out in it they found out this right after it happened theyre going to have to repay that it was only good for 90 days theyre going to have to make it up really fast and i think a lot of people arent going to be able to do that theres a lot of people that did it because they thought it was a convenience at the time they didnt understand the ramifications of how it was going to work so i think we will see pay backs on all that money and i think a lot of lenders are going to have to move that for barrons payments to the very end of the loans and let those people make it up i dont want to see people get evicted and i think a lot of people took advantage of that forbearance the didnt really need it you know i absolutely especially because it was offered but i want to move her through these to the to the United Kingdom where the country is seeing these figures drop to their lowest rate since 1990 the tosh i mentioned that in the package earlier the bank of england said that the number of new home loans fell by 90 percent of whats going on there. I think people are just nervous they dont know whats going to be happening youre not going to buy your biggest investment of your life if youre not sure that youre going to use of all your money in your Retirement Plan and youre not going to get all fall back on if youre not sure about your job youre not safety with your kids i dont think people are going to dig into their savings to make that investment so theyre just going to sit on the sidelines and wait well lets jump over real quick to the real estate sector in asia lets take a look specifically at hong kong we know thats been struggling there but despite more than a year of unrest new laws from china any of the the pandemic hong kong has seen a jump in home prices jumping nearly 2 percent in just may thats the fastest rise in more than a year theyve had this issue with their real estate for a long time now look at the future hold for asia asias Financial Hub and one of the most expensive Housing Markets in the world. Well you know because of the pandemic a lot of people have lost jobs and i dont play minis extremely high and you going to find more renters now than home buyers so you have a lot of wreaths and a lot of Big Companies coming in from overseas buying an apartment houses condos complexes it should have been for Single Family housing or for Housing Developments and they would be putting renters and there so yes its going to get sold but its going to get sold to different people its not going to be a primary house that you can buy yourself now so the mix is going to change specially as like were seeing china really take advantage of these Interest Rates in a low level in the u. K. And in other countries are we going to start seeing more Foreign Investment. I think were going to start seeing more Foreign Investment because you know investors have a different from frame of mind than you and me do when we go to buy a house its all about already motions investors are very emotionless and so theyre going to let the numbers speak and so if the numbers line up its a very black and white decision its not gray like we want to perfect kitchen in the perfect everything investors dont think like that so yeah they will come in and say and snap up some of the homes that are going to be in forbearance and foreclosure coming up in the u. S. Yeah i think so definitely a numbers game for investor is very different than when you and i are thing Mortgage Brokers specialist and c. E. O. Of the mortgage real estate and Risk Management boyd thank you so much for joining us today. Thank you. Time now for a quick break but stay here because when we return the old industry is a hit as 83 tons of fake gold bars are used to secure billions in loans will tell you what this means for crypto currency as we go to break here the number is at the close. Of. The young we want transparency they want to know where this is headed and theyre very demanding a one night stand that theyre going to get rid of what they dont want rapidly and theyre putting themselves together theyre hoarding very slowly this pandemic is making them be even more careful they will continue to be careful and they may not least a decade i dont know a generation or solid partnerships. Thousands of american men and women choose to serve in the countrys military and the decision a little sheltered lives every song came to a complete. The day that i was right to be instructed here you know told a short while to kill me and i see how destroyed my life any screamed at me and he made me come in and he grabbed my arm and he write me with his birth. If you take into account that women dont report because of the extreme retaliation and its probably somewhere near about half a 1000000 women have now been sexually assaulted in the u. S. Military rape is a very very traumatizing tat happen but ive never seen trauma like ive seen women who are veterans who have suffered military sexual trauma reporting rape is more likely to get the victim punished them the offender and almost 10 year career which i was very invested in and i gave a sex offender who was not even going to justice or put on the registry so. Simply an issue of our in violence male sexual predators for the large part of target whoever is there to prey upon whether thats men or women. It should come as no surprise to anyone who watches the show but cryptocurrency is have received a big boost over the past few months as a coach in 1000 pound demick has hit world economies well in the country of india the crypto industry is experiencing some massive growth in fact a new survey of crypto banks and exchanges shows that the number of sign ups and trading volumes in india have been exploding well this comes as the entire gold industry was rattled 83. 00 tons of fake gold bars were used to secure 2000000000. 00 worth of loans in china so what does this mean for crypto currency will joining us now to discuss and break down. And ben swan welcome back chrystia lets start with the gold industry shakeup whats going on there and how is the beattie market reacting to this news. Well i actually wish our good friend peter schiff were here today to get us but its really shaken up the entire gold market after this discovery so to put it into context 83 tons of gold is equivalent to 22 percent of chinas annual Gold Production and 4. 2 percent of the gold reserves so thats quite a significant amount and that gold was used to collateralize about 2800000000. 00 worth of loans over the past 5 years so that gold ended up being nothing but gilded copper so now the lenders are holding the bag for the remaining 2300000000. 00 of loans outstanding against the fake bars and the thing being the 1st time that happened we spoke about this last year when state gold bars were found in j. P. Morgan vault as a new high and counterfeit merged into the gold circulation so right now that really begs the question how much of the overall gold market is fake gold especially now when china who is the Worlds Largest gold producer just found that over 20 percent of its annual production was completely fake so i mean i know of peter love of gold and to his credit the traditional thing yes that but that was in the prevent coin days so right now do you really want to put your money into something that is so widely counterfeit these days point is basically digital gold and mathematically impossible to counterfeit is verifiable by anyone and as we pretty much talked about before because it is divisible durable portable and more scarce and gold not to mention more fundamental less lovable to that so between the 2 i prefer digital gold so many say its possibly hackable. Only by use their well its been itll be interesting because gold has been a huge commodity metal that precious metal that has been going up recently so definitely came as a surprise but then weve recently talked about news that pay pal may be moving into the crypto space another company is reportedly hiring krypto and block chain specialists what would that mean for crypto to have a company like pay pal. For example come on board. Yes to good things that are one big to the common that was made right now is not hackable while it can be happy accounts can be hackable but big point itself is not how a couple in terms of a company like pay pal coming in listen for people like me and christie who are crypto enthusiasm and really care about kind of the fundamentals of decentralized cryptocurrency and you know connecting from the Banking Systems its not necessarily a good thing because pay pal doesnt bring anything to the table really of value in terms of actually expanding the big points space however what big pay pal does do is they could introduce a lot of people to cryptocurrency who right now are not involved in it so im not im not necessarily keen on them getting involved in it because i think with the introduction duction of Companies Like that theyre going to create more red red tape more regulation more problems essentially for people who really are purists in terms of the way they view cryptocurrency as freedom from existing systems paper i was just going to try to bring. Into existing systems but again for people who are on the outside of that who dont really understand it it will introduce a lot of new people to cryptocurrency who i think in the past maybe have been afraid of that but would be more likely to use it if a company like pay pal has their name on it because theyre able to associate with a Bigger Company and possibly be more trusting especially for those who arent as informed on the Digital Currency kristie theres also another currency a crisis that has just imploded this was after months and in the making resulting in the lebanese pound that lost about 80 percent of its value over the past 10 months whats happening there and how does bt see fit into all of this. So that economic and financial crisis its deepening and levanon as the i. M. F. Now warned that the central bank has accumulated losses about to 170. 00 trillion pounds so thats a month 91 percent of lebanons total economic output and almost equal to the total value of deposits held by the central. So right now as a result millions of citizens are watching their statements and salaries get completely wiped out so locals are kind of racing to convert their increasingly worthless local pounds into dollars to hedge against from further anticipated declines now the other asset that theyre flooding into of course is make wine and trade at a slight premium due to the demand and its really interesting because this is why. It is being favored now even among the dollar because even if you were to convert to dollars youre still bound by the strict restrictions of cash withdrawals and transfers youre still stuck and trapped within the Network Within the Banking System or confidence right now is at an all time low as increasingly restrictive capital controls are living with right now in lebanon to between 50. 00 to a few 100. 00 a month and transfers of broadway recently cat only 15000 a year for necessary matters so this is really where big quite shines because its really the only waterless currency that you can control right now the banks dictate when you can and how much you can withdraw move so they tell you its your money its in your account you just cant touch it so knowing that you really need the money if you cant move it you cant spend it withdraw it you really own and thats what the current offer is like true Financial Freedom that creates a little bit of problems like you said for whoever actually owns about money especially when its tied to these Financial Institutions and you talked about regulation and of pay pal came in for example now let us legislation this week that would direct the Government Accountability office to study Virtual Currencies role in illicit Online Activity are there concerns about this. Well i think the biggest concern is kind of the hypocrisy here that is sort of being in committee is saying to the g. A. O. You have one year to go and to compile our report to show us how Digital Currencies and Virtual Currencies are contributing to things like sex trafficking Human Trafficking drug activity show us how Virtual Currencies are connected to this but the reason its. A little bit hypocritical and certainly its the whole thing is kind of a misnomer is because theyre not also simultaneously saying and include in that report how u. S. Dollars contribute to Human Trafficking sex trafficking and drug use and Drug Trafficking around the world theyre not doing that and the reason theyre not doing that is because there is a very clear point of view here which is that Digital Currencies are expanding sex trafficking in Human Trafficking and Drug Trafficking around the world but there is absolutely no indication right now that Virtual Currencies are expanding that world youre telling me that if we got rid of Virtual Currencies that with it would go sex trafficking and Human Trafficking and Drug Trafficking absolutely not the fact is that all of those traffickers more than happily take u. S. Dollars they more than happily take gold if you have and dont take whatever you have so the idea that Virtual Currencies are causing a growth in these illicit areas i think is a false one and its one that fits into a narrative that continues to paint virtual and Digital Currencies around the world as being at their core bad as opposed to currencies which at their core are supposedly good and theyre not there are other ways that these people would find a way to do so out ways the west coast fence so on and christiane thanks for your time and hair analysis today. Without the need for pain or even canvas what lego is unveiling a new line of pop art posters that you can put together yourself piece by piece for later this year these kits will be released with images of your favorite star wars and marvel characters or you can stick to pop art roots with images of Marilyn Monroe and even the beatles lego says some of the kids will have images that can be reconfigured or be included into a much larger artwork all for beatles all for beatles for example. Thats it for this time you can catch him bust on the man in the brand new portable t. V. Out of elbow on smartphone through google play on the Apple App Store by searching for the t. V. Or stream with your t. V. By dolly the portable t. V. App on apple dot t. V. Online a portable t. V. With you next time. You talk about a recession but actually theres a wristband that the globe is heading into a depression thats right crash and then the word. Secret prisons and usually what comes to mind when thinking about europe however he even the most prosperous can be deceived weve been busy roads along the way to view houses were. Preserved was located only cia people had access to the story for investigators show how they uncovered the darkest dealings of the secret services but i mean. The great ignore in. Trying for justice on. The one guy up here he was a may found him literally dead like this standing up there a guy appearing his girlfriend they were found in their apartment that theyd just. Cut all up and they were dead for like 3 days holding each other this wall so people who have lost their lifes early today shit yeah this is from akron. That crown is better known as the meth capital and im high and its a city where the number of drug addicts keeps growing every year. I came up when i was 14 in my whole family were drug addicts who. Throughout much of the 1990 s. And beyond the doctors were encouraged in some cases incentivized to overprescribe. Them even enough to sedate a small country where you should also hear about people by all that said good stuff man we gotta go to bed i go crazy to let you know what are you doing. Down there succumbing to no one after the next. Time of the time cold parishioners repeat the same mantra sustainability its very important its accelerate the transition to sustainable transport sustainability space where man a more equitable and sustainable world. They claim their production is completely harmless. Because. It does not the Companies Want us to feel good about buying their products while the damage is being done far away and this is something this must be done even as i made much of. This is the mood stimulus and we didnt do any minute and im stymied seemed to be the best understood so when in the. Hell out there im an electron youre watching in question broadcasting from our to Americas National news headquarters in washington d. C. Here tonights top stories 1st a black man in louisiana making a passionate case for removing the name of the confederate general robert e. Relieved from a high school is out right disrespected by a School Board Member caught on line shopping during his plea were going to show that to you bend over to San Francisco where Police Department there are. Changing the way it releases mug shots to the public well tell you whats behind that sudden move. In the senate kills an amendment to the n. D. A. That would have ended the u. S. War in afghanistan were going to discuss that with our panel