We are segregated. By social class laws help us people also in poverty by 1st. If youre born into a poor family ocular born into a minority family if youre born into a family that only has a single parent that really constrains your life chances people die on average 15 years old is your born into generational poverty. Its an awfully tough fight every day to meet your needs and the needs of your family. I. This is a bus the one business show you cant afford to miss friendship or in washington coming up as air travel resumes cases a provirus are surging among t. S. A. Agents this while the u. S. Faces another record in new cases well take a look at the global numbers momentarily and although jobless claims have begun to fall the state of mortgages in the United States are still in question straight ahead we break down the fate of these homes and what struggles lie ahead plus that we welcome back James Beard AwardWinning Television personality Andrew Zimmern to discuss the plight of restaurants in the United States as they struggle to reopen it with a packed show today so lets dive right in. And we lead the program with the struggles of trying to return to some sort of normalcy amid the copen 1000 pandemic the Airline Industry worldwide has been decimated since the beginning of travel restrictions and stay at home orders but air travel has been steadily climbing over the last month and a half despite searches in cases of the virus in fact here in the United States over the 4th of july weekend more than 2 and a half 1000000 people travel by air but heres that issue according to figures provided by the Transportation Security Administration more than 1000 t. S. A. Employees have tested positive for covert 19 this accounts for roughly 2 percent of the t. S. A. Workforce now the agency says most of them are security workers who work in screen to screen passengers at airports across the country Heidrick Thomas the president of the union that represents these officers said of the situation right now were bringing people back to work and the social distance is not in total effect employees are still complaining theres too many of them in one area meanwhile the u. S. Hit a nother record for daily new cases with more than 60000 cases reported thursday and with all of this in mind lets go ahead. Take a global look at the spread of the virus with r t correspondent sars tablature where are we worldwide brand again more grows as global cases now headed over 12200000 cases now global deaths were almost 600000 im going over to the u. S. Were now reaching over 3200000 cases and deaths in the u. S. 836000 once again the u. S. Has recorded like you said 6 single day record in 10 days with over 61000. 00 and new cases on thursday and florida are in arizona continue to be the epic centers of the pandemic now in Florida HealthOfficials Say on friday that theyve reported at least 11433 new cases and 93 new deaths a day after setting another single day record of a 120 deaths now meanwhile earlier this week florida instructed that schools would be required to open for all time in the fall despite all the jobs and numbers that were seeing and also other hot spots the states hot spot i should say is still in Miami Dade County where the percent Positivity Rate of cases is over 33 percent earlier this week they were at over 23 percent now reaching all the way to 33 percent so huge jump from monday and brand its important to know that the medium age thats being tested positive right now in Miami Dade County has been 39 so the age group is going down so that some sort of a good news i guess you could say meanwhile arizona still leading the nation for over a month with the highest 7 day average of a new cases and arizona has only the more bad news i should say for arizona as they only have 993 hospitals left the hospital bed left the. The lowest number of available beds the state has seen so far and brad 6 other states that youre seeing year are also setting single day case records on thursday alabama. Missouri montana oregon and texas all seeing huge increases and tennessee also reported its highest death total for a single day 22. 00 and the numbers are also expect the striking in texas which set a record for the 4th consecutive day with more than 10900 new cases and 119 deaths brant sorrow when we go back to the global numbers what are the trends look like right now. Well looking globally cases are again once again soaring in brazil they now have over 1800000 cases now india as you can see theyre still also going up right here you know russia seems to be flattening a little bit with the average of cases being around the same as earlier this week iran is also showing a minor increase and the wrath of the rest of latin america were seeing hotspots remain to be mexico peru and colombia and chile all increasing around the same rate brant and speaking of where in america tell us about whats happening in bolivia so while bolivia seemed to be escaping the break that has affected neighboring brazil and chile but the pandemic is now beginning to quickly spread in bolivia and they have had over 43000 infections and over 1500 deaths and then there was another sign that the region is at the epic center of the global outbreak believe us president jean on a said thursday that she has tested positive for the corner virus the 2nd Line American leader this week you know it also just hasnt been latin american leaders now heres a list of all the leaders that have been infected with the corner virus anywhere from u. K. Leaders to the russian Prime Minister to israelis Health Minister to 2 very high iranian officials and also a strangely as Home Affairs Minister says you can see right here nobody is safe from this virus brant archie correspondent thank you for keeping us up to date. And more than 4000000. 00 mortgages are in forbearance and are getting extensions of those initial 3 month play indicating that the pain in the market is not yet over this represents 7. 8 percent of all active mortgages here in the United States accounting for just under 900000000000. 00 in unpaid principle so lets go ahead and take a look at this and some other Economic News of the day with us cohost christiane. Always a pleasure to see you right there what does this mean for the market well its like you said the pain in the market is not over yet and in fact this is only the beginning because the market has been propped up this entire time by stimulus massive stimulus in the form of the care package that has allowed borrowers to miss Monthly Payments for up to 3 months but now that expire and p. P. P. Is expiring and when these artificial buoys go away people are left with real expenses real bills that Current Business operations just cant afford to pay so the expirations of these plans plus the expiration of the extended Unemployment Benefits at the end of this month has a significant rest of the recovery of the entire Mortgage Market and will there be additional stimulus measures passed to support the market once these expire well many ellice believe that there will be another package simply because its too early for the life buoy to go away once it expires in order to provide a last and a drop in the market president secretary treasury secretary has hinted that the trumpet ministration is working with the senate to pass a new bill this now supposedly will cover Unemployment Benefits a 2nd round of payments to household and an extension of Unemployment Benefits for furloughed workers and a targeted version of the p. P. P. For Small Businesses are currently an all out on the table theyre looking to try to pass this by the end of july as these Unemployment Benefits are near expirations and if there continues to be a last we can see a stall in this recovery no weekly jobless claims were lower than expected last week totaling 1314000 compared to the expected 1300000 expected so its very close there but so weve seen this number fall for a few consecutive weeks now can we assume that the recovery is actually underway all the continuing claims have fallen sharply much faster than our ridgeley can anticipate a much faster than anyone expected but despite these better than expected numbers this is still the 15th. Week that initial claims are above a 1000000 and claims under the pandemic unemployment assistance programs increased by 42000. 00 from the previous week now bring the total of these committees claiming benefits to a record of 32900000 so theres still quite a long road ahead of us even if we say this is the beginning of their coverage of the beginning of the balance whatever you want to call it unemployment is in fact dropping from the pandemic high of 14. 7 percent to 11 point one which is still pretty high so the job market is still very far from being subtle especially when you have Companies LikeUnited Airlines just announcing that they are putting 36000. 00 workers on notice for potential layoffs so while we are starting to see a slew of bankruptcies and chapter 11 filing is also hit the deck those are not mom and pop shops those are in fact fortune 500 companies or companies over 15000000 in market cap filed for chapter 11 so that represents hundreds of thousands of jobs that are permanently gone so while we can say that we are in the early innings of our carry the high levels of initial jobless claims as well as the business closures are going to be very major headwinds Going Forward you know look at markets they could today be choppy in trading on friday but we still have some upside bias here what is could to do push it up despite the complete lack of catalyst events i got 30 seconds left for you kristie it is going to be choppy trading and range bound in the interim as we go into the summer months but there is a slight bullish buys a mirror right there some of factors continue to prop up the market namely the fed amazon and this hope for a vaccine so today on friday we got the report from gilliatt saying that the vaccine could be ready by as soon as december so this reopening trade is fading and the rotation of high beta stock is also slowing down and in the near term its going to be difficult to find anything compelling so really the only thing thats going to be leading the market right now is going to be tech names as well as the fed. Chrissy our thanks for your expert analysis. Global markets are mixed this week as they could tell you to react to a resurgence of coronavirus cases worldwide lets start in russia where the mo x. Is down on the week the ruble fell on friday after some gains throughout the week due to a decrease in oil prices and concern over a renewed lockdown now something to keep an eye on is the Nation Central Bank data for balance of payments for the 2nd quarter of this year amid the height of the pandemic lets move to asian markets where the shanghai composite its in the green for the week with gains early on in the week due to chinas june inflation data chinas National Bureau of statistics showed the price index fell by 3 percent beating expectations and the composite saw a 2 percent loss on friday mostly attributed to the growing number of coronavirus cases worldwide in hong kong the hang seng finished the week up but just barely the index fell more than 2 percent midafternoon on friday alone on the news that the Asian Financial hub will suspend all schools starting monday after a spike in co but 1000. 00 cases in japan the nikkei was down for the week following similar trends on friday it lost one percent taking a sharp downturn over. Concerns the sensex in that is up on the week extending its 4 week gains despite some losses on friday indias richest banker and head of ko Tech Mahindra bank he says it is the surplus of money and stimulus coming from Central Banks and the markets habit of discounting the immediate future which is pushing the sensex higher moving to australia the a. S. X. Is down this week and it fell really on sentiment it fell on friday largely largely due to Energy Stocks which fell nearly 2 percent and the all share in south africa thats up for the week after seeing some large gains midweek the index dipped on friday after the country reported their biggest one day spike in new coronavirus cases so lets go ahead and take a walk to the other side of the studio. And look at europe and the americas which is really on trend with the rest of the world when it comes to the mixture of green and red arrows that we are seeing in london the footsie is slightly down for the week but did see some gains on friday on the back of pharmaceutical and utility shares and the easing of lock down restrictions on indoor pools and gyms but still not enough to erase this weeks loss now the french cac and german dax theyre also in the red following similar sentiment french industrial output however did surpass expectations as they climbed 90. 6 percent in may and lets go ahead and cross over the atlantic to brazil where that it is also up on the week as many parts of the country have reopened despite a growing number of coronavirus cases the countrys inflation measured by i. P. C. A. Consumer price index rose 0. 26 percent in june lets move north to the b. M. V. In mexico its down for the week as Mexico Central Bank said the economic recovery is uncertain despite the countrys reopening and several important sectors like manufacturing coronavirus concerns are still lingering in mexico in the u. S. The dow just about flat the s. And p. Squeaked out a green arrow at the end of the day on friday even with fears of a virus resurgence while the tech heavy nasdaq is up hitting record highs on thursday and amazon rose to an all time high spiking 3. 3 percent on thursday alone Alphabet Google the Parent Company microsoft and apple all contributed to those gains as well finally in the great white north of toronto the key has x. Is down for the week the Energy Sector lost 2 percent as crude oil dipped to their lowest closing of the month on thursday for next week were going to have to keep an eye out for a 2nd Quarter Results and the growing number of coronavirus cases worldwide and that is your Global Market walk. Time now for a quick break but hang here because when we return the restaurant sector has been pummeled in the wake of the cold 19 pandemic and now the industry is looking for government help to stay afloat straight ahead we bring in a true expert of the sector to break it all down as we go to break here the numbers of the quote. A young people for a while you know that to make it in their own image you know and jan see im a boomer you know i already had the. 40 year 50 Year Experience in the United States post world war 2 coast landing you know stock markets never had a work day in my life because of that and you know so its up to now to decide whats great to make it great and good luck with that. So we were sisters are. Going to be. There on those he just came up with a big idea you feel that oh. Im talking about is a very international community. Media used to be you need to. Just keep this. You. Know the pollution of the world who used to look at the. But as for their new course with. Everything reduced to lose it we dont want them to do with. The. They have that was affected but they decided not to take its like. You that. During the vietnam war u. S. Forces. It was a secret war. And for years the American People did not know. How much hes actually. Country per capita. Human history millions of unexploded bombs still in danger lives in this Small Agricultural country 200 i dont we dont. Even today kids in laos full victims of bombs dropped decades ago this is the us making amends for the tragedy in laos wont help to the people need in that little. Welcome back here on boom bust we have discussed how nearly every sector of the economy has been hit by the copen 1000 pandemic one of the hardest hit sectors has been the Services Sector which here in the United States accounts for roughly 70 percent of jobs and one of the largest subsectors in that group has been the Food Service Industry which had lost nearly 50 percent of their workforce as their home orders forced their mostly Small Businesses to shut their doors now of course those numbers are about it somewhat as states began to roll back these orders and enter into varying phases of reopening however as of june 24 percent of those restaurant employees well theyre still out of work and since we are facing. Since by think 8th of the virus florida and texas well theyve been forced to close bars again while new york city backtracked on plans to allow Indoor Dining since the start of the pandemic restaurants throughout the u. S. Have lost 120000000000. 00 in revenue that according to data from the National Restaurant association so look ive been to state of this industry with Andrew Zimmern for time James Beard Award winning t. V. Personality cheff activist and creator host of a method be thieves what eat whats eating america now andrew we could obviously spend hours talking about just your resume its wonderful that a fair appreciate having you back on the show now we have you here i did just a few months ago at the height of the shutdown orders here in the states now how have things changed in the Restaurant Industry over those last 2 more months amid the pandemic. Well i think the biggest change is the one thats sort of the most obvious that that sadly many people sort of dance around which is that the pandemic is now at record numbers were at the higher significant totals in any statistic than we were in march and thats a Natural National disaster global tragedy a National Tragedy so essentially what we have is a trolley problem that seems obvious to me the question being how can we justify being open for business when more people are getting sick we could if there was federal funding remember all of the states have eaten up reserves and all the rest of that getting themselves ready to handle the pandemic across many business sectors especially the Health Sector in the educational sector right so the lack of federal responsiveness is meant no money in the states but more people are getting sick so it would be it would be great to have National Leadership a National Plan enforcement requirements you know obviously when it comes to a National Plan people say well Houston Texas is it laramie wyoming you know from a size standpoint its not one size fits all but ironically and sadly 2 weeks ago nebraska governor rick its required that masks not be worn in the public buildings in the smallest county in the state. And ironically he had sadly the largest c 1000 issues because of the big meat plant that was there the greatest number by percentage and significant totals were in the little teeny Dakota CountyPublic Health is being politicized i think thats affecting restaurants well and i want to bring that up to you because to your point where you just mentioned there about the masks and weve seen this as a conversation here in our region theres theres been the situation where certain restaurants dont have their employees when they were reopening dont have their employees Wearing Masks and p. P. And and then they get called out for it and then you know because of political leanings and like you said this isnt shouldnt be a political issue its a Public Health emergency but because of political leanings they say well ive told my employees not to wear masks and then what happens then they end up having to be shut their doors for right now because of this and it makes me think about this issue when were talking about a Public Health hazard and were talking about businesses like restaurants we spend so much time talking about well the patrons might get sick because of this what about the health and safety of these workers in restaurants. Well you hit the nail on the head and to me this is the one of the bigger issues. First of all i can never take care of my customers in our restaurants if im not taking care of my employees 1st you know there were some very famous book you know danny meyers book you know he very famously says that you know sure were here to serve the customers the customers are always right but we have to put our own gas mask 1st if im not taking care of the employees i have nothing to offer anyone and this disease has you know disproportionately affected black and latino and indigenous workers People Without Health Insurance to those below the poverty line. Kitchens typically employ a very Diverse Group of people remember the number one employer of people who are returning citizens coming out of. Ells institutions single mothers immigrants 1st time job seekers on and on and on so youre talking about a fairly vulnerable population one that traditionally doesnt have a lot of savings they dont have Health Insurance for the large part and we have built restaurants making kitchens smaller smaller and smaller where people interact in tighter and tighter hot conditions during the summer its expensive to air condition a place where youre cooking its easier to take care of people in the dining room were always put up dividers wear masks disposable menus have 100 percent outside lower percentage inside its easier to take care of the customer but whats more vital is we have to take care of the worker because if we dont take care of the worker were going to have a a hotspot crisis in a restaurant or a restaurant cluster on a street that has several of them with neighborhood customers and then the entire industry is going to fail i also would like to mention that theres other issues you know that the Restaurant Industry is dealing with too you know Indoor Dining could be a long way off quarantine orders travel and theater closures are going to dampen restaurant spending were in a depression a lot of people dont know if theyre going to have jobs Outdoor Dining and delivery and takeout is not a panacea financially for the industry and restaurants are trying to dig themselves out of a rent hole the p. P. The p. P. P. Aid program was only designed to be temporary even though we got the extension 2 from 8 weeks to 24. 00 weeks and i think hospitality employment is going to suffer even more amid this virus surge because Consumer Confidence and consumer demand is not going to be there and the uncertainty of pandemic gade means that theres uncertainty for restaurants spending right that that means not only the the money that has been extra money thats been coming to the american citizens. That ends at the end of july but also backstopping money from p. P. P. And different state and s. B. A. Probe programs which is why its so important you know im a cofounder of the independent Restaurant Coalition and i encourage everyone to go to save restaurants dot com if you believe in restaurants you know email your congresspersons email your senators directly from our site and tell them that you support the restaurants act which is that 120000000000 dollars Stabilization Program that will keep this trillion dollar industry with a leavened to 15000000. 00 employees and the only the only industry bigger than restaurants is the u. S. Governments we cant let all these people stay on an employee when people talk about that economic imperative what theyre misunderstanding the piece no one is getting is that we need dollars from washington not to support Big Companies but to support Small Business has over us america. Absolutely etter them or in an impassioned plea for the Restaurant Industry and restaurant workers for time James Beard Award winning t. V. Personality chef activist and creator host of m. F. M. B cs whats eating america thank you again for joining us andrew. I love being with you see you next time. And thats it for this time you can catch boom bust on demand on the brand new portable t. V. App available on smartphones through google play and the Apple App Store by searching portable to see you next time. Join me every thursday on the alex im unsure when ill be speaking to guest of the world of politics sports business im show business ill see you then. A young people for a while you know its up to them to make it in their own image and the money els and jan see im a boomer you know i already had the. 40 or 50 Year Experience in the United States post world war 2 coast land they do you know stock markets never had a work day in my life because of that and you know so its up to them to decide whats great make a crane and good luck with. Your segregated only by social class. People also in poverty by 1st. If youre born into a poor family youre born into a minority family if youre born into a family that only has a single parent that really constrains your life chances people die on average 15 years younger than you born into generational poverty. Its a tough fight every day so you. Meet your needs and the needs of your family. Stumbles world famous handiest a fear museum which was originally founded as a cathedral is converted back into a mosque however turkeys move triggers anger especially from abroad. Oxfam warns that kind of 19 could cause mass hunger across the globe and kill 12000 people a day. To. Develop big otherwise middle income a developed country but money is flowing to the Big Companies and its really not getting down to the people that need. A poll finds mixed feelings in the e. U. One welcoming u. K. Tourists without self isolation brits get the green light to travel to 59 countries i think they will be regarded somewhat with suspicion