For many people to get through the crisis and an upswing will happen faster now than otherwise would have been the case the European Union has struck a deal on a 2 trillion dollar budget which includes Coronavirus Relief after some heated talks over the weekend straight ahead we analyzed the specifics and the state of affairs in the block and the u. S. Had its smallest single day increase in covert 19 cases in more than a week well take a look at the spread of the virus throughout the globe plus its another big week for earnings on wall street as lawmakers also are negotiating the next round of provirus stimulus well break down what this is doing to markets with a packed show today so lets dive right in. And after almost 5 days of fighting insults and battles between European Union leaders and the has to and its doric and massive stimulus plan has finally been agreed to the deal paves the way for the European Commission to raise billions of euros on Capital Markets on behalf of all 27 states within the e. U. French president who. Helped to pull the deal across the finish line along with german chancellor Angela Merkel called the deal truly historic. To simply put us we have put in place a capacity to borrow collectively to put in place a collective Recovery Plan for the 1st time the objective which we arrived at was a package of 750000000000 euros in total we ended up by having everyones agreement as chancellor merkel has said for 390000000000. 00 euros worth of grants but this is a substantial package which will enable each country to finance a good part of their National Plans i dont want to go into this will be we have a great responsibility with 209000000000 euros we have the possibility to strongly relaunch italy to change the pace of the country now we must hurry you must use this money for investments for Structural Reforms we must begin that the Economic Growth for Sustainable Development that we have been pursuing for years without ever achieving it at least not with the timing it was not easy that we needed so many days shows that we came from Different Directions but what counts for me is that we all got together in the end and that we are all now convinced that we really can make something out of what we decided. So what does this Historic Deal mean for the e. U. Lets go deeper and bring in blue bus cohost investigative journalist ben swan and john quotes dean of the Miami HerbertBusiness School thank you both for joining us again today and i do quotes i actually want to start with here you here now this is a massive stimulus and Recovery Plan what do these countries need to do respectively to move their economies forward i made b. The crisis that we are seeing. Thank you brant yes the size of the deal is substantial it represents actually about 4 percent of annual e. U. G. D. P. And its important to note in the e. U. That around about a 3rd of European Union g. D. P. Is intra european trade so one of the most important elements of this package is the opportunity to restructure our economies and businesses to facilitate an acceleration in intra european trade flows in addition of course many of the loans will be assigned by the National Governments to stimulate and revive small and medium sized businesses that have been disrupted significantly by the virus but overall i think were looking at perhaps not as quick a recovery package implementation as you might think because the deal as a whole has to be approved by every National Parliament among all 27 nations and thats going to mean that its going to be at least 6 months if not more before any of the money actually finds its way down to the ground level to the high street or main street and thats very interesting point that were going to keep an eye on out of throughout the next couple of months now ben we talked monday about the more frugal Northern European countries that resisted this deal french president menem are grown actually spoke about them as well. For the countries that we have called frugal this incentive that he comes from the fact that they are large net contributors and that there is a political. Sensitivity back at home on this point often with Coalition Governments and therefore leaders who are around the table but who must respond to their parliaments which have put on many constraints now how do you think these leaders will fare as they head back home to their constituencies as dean called actually just kind of made the point of how this is going to have to go through all of these parliaments as well. Yeah and im not sure that based on. These will get through all these parliaments look theres 5 countries really in particular were talking about here in the past theyve been known as the frugal for now theyre called the frugal 5 finland joined them its finland denmark the netherlands austria and sweden that make up these countries are wealthier Northern European countries their parliaments may not agree to all of this their representatives in the leaders from those countries who essentially have been fighting with the rest of the e. U. Over the last almost 5 days over this or are they going to have to sell this back home to those constituencies and say that this is a good deal im not sure that theyll all agree with that remember these are not only going to be difficult to sell to the existing parliaments but also to populist parts of the populations that may not agree with these ideas so one of the issues here has been that these frugal 5 nations basically said they wanted to have essentially loans that were made that would have to be repaid not grants that were non repaid by a lot of these nations the grants idea has come through and so i think thats where youre going you may see a hang up in some of these other again wealthier Northern European nations doing quote this plan seems to endorse the principle of collective borrowing and allows for the transfer of funds via grants from richard to weaker nations now it is this deal also in some ways acting as a blueprint for future relations within the e. U. Well absolutely u. S. Expanded over the last 50 years and one incarnation or another theres always been a balance between the rich and nations and the poorer nations within the e. U. And theres always been an element of Wealth Redistribution associated with the whole european idea so this is really the latest reflection of that i do so. Good so important though to underscore that by. Organizing all of this loan activity centrally through brussels rather than having in individual nations. Individually make their own debts debt arrangements and loan arrangements there is an element of procurement efficiency here that is not to be on the rated but. You know when you have 27 nations trying to forge agreement on anything its pretty tough but certainly this is a victory in fact any time that you can get the 27 to agree on something this substantial its a victory for the european ideal and now there was a lot of talk about rule of law especially from the Hungarian Prime Minister and i want to play in some sound from him right now. And be not just manage to get to package of money but to be defended the pride of all nations and make clear that it is not acceptable that anybody especially those cool in harry teed in how to do the rule of law will. Criticize os the Freedom Fighters who came from of the really difficult periods of police times that they do a lot against a community in favor of the level so no but they can get you kate and a nation of sorted out an inch for the nation of the 56. 00 civil should its unacceptable and he was of course talking about not questioning poland or hungry now do you think that there will be backlash against the e. U. From these countries if this money is not applied correctly. Well not a problem correctly yes but i also think that whether or not there are additional Strings Attached to it so i think what were hearing when we hear this discussion about rule of law really comes back to a bigger idea which is simply that some of these countries will say if you dont like the way were handling politics internally if you dont like the political systems because obviously and there are is a big divide across europe in terms of these populist movements that are popping up in Different Countries weve seen it happening now for the last couple of years if you dont like where were at how is that going to affect the centralization of this so what. Was talking about a minute ago about that kind of centralized efficiency and it all coming through brussels i think there also becomes a fear about some of that centralization that also becomes centralized control coming out of brussels and so i think thats some of what were hearing there you know and i think when we look at d whats happening across europe its easy for us to gloss over here in the United States some of those deep rooted feelings and anger that lie between countries nation to nation there and we talked about this monday about the cultural differences of these 27. 00 nations as youre talking about coming together to work out this deal boom bust cohost ben swan and dean john thank you both for breaking this down for us. Thanks for thank you. As we continue to see surges in case of covert 19 here in the United StatesPresident Donald Trump spoke about the situation announcing he would resume Holding Daily briefings on the virus frankly a lot of the country is doing well a lot of people dont say as you and step but we have had this big flare up in florida texas a couple of other places. And so d i think what were going to do is get involved in the search to have briefings and part of the briefing i think much more so than last time because last time we were nowhere with vaccines or therapeutics and it should be noted that the president has held a briefing in 6 weeks now meanwhile the u. S. Saw its smallest daily increase in new cases in more than a week reporting just over 60000 new infections monday with that in mind lets go ahead and take a global look at the spread the virus with r. T. Correspondent side to have it or so where are we worldwide sobran right now almost 15000000 people around the world have been diagnosed with the 19 almost 60 percent have recovered and more than 616000 have died now looking over to the u. S. They have reported almost one 145000 dead and theres almost 4000000. 00 confirmed cases in the u. S. And and the u. S. Also reported over 460. 00 new cases last week of nearly 15 percent from the prior week and just looking in the last 24 hours theres been over 62000. 00 new cases are bored at like you said a little lower than the average 7 day as 7 the average but not by much now nationally 8. 5 percent of tests have come back positive for the virus thats still down 8. 8 percent the prior week but still me. Much higher than the 5 percent level that the w. H. O. Recommends before reopening states back up and 31. 00 states have test rates above 5 percent including. 24 percent florida nevada 19 percent and i dont alabama also 19 percent now both vermont and connecticut have the nations the lowest positive rate at below 0. 08 percent and new york who once had a 71 percent Positivity Rate at one point now has 1. 2 percent and also the us is currently testing about 700000 people a day so little imagine that number is going to keep going lower a higher depending on rules put in states like social distancing but i also want to take a look at the us current hot spots and how 19 states right now have reported an increase in new cases just in the last 7 days and the majority of cases remain to be in california arizona you see all the red right here california texas arizona florida and now also georgia is emerging as the nations newest hotspot and you know just looking at california arizona texas and florida youll see that these states just keep trending higher and higher so what we want to see them is actually you can see theyre just getting higher and higher doing their 3 Day Moving Average and when you have new cases theres also new and youll see more deaths thats when theyre seeing more deaths happening the charts going to show so more cases of course equal more deaths and as of monday texas reported 118 deaths florida 90 deaths california 5056 and arizona 23. Globally were the hot spots you look so globally were here are on the chart that im going to have them put up here these are the top 10 k. Andres affected by call that 19 of course u. S. Is constantly trending up followed by india followed by brazil other latin american countries mexico peru colombia and chin they are also on the list going op in the middle east iran remains to be number one its been replacing iraq was on the list but theyre no longer are its once again being replaced by chile and south africa is also seeing a steady amount of cases brant arky correspondent side tapper thank you so much for keeping us up to date. And time now for a quick break but hey here because when we return well take a look at another big week for earnings on wall street and how the next round of provirus stimulus might move markets and as were going to break here the numbers at the close. Turn on the t. V. On about the world of whats happening around me i see shields on the screen every day because the big news near its the speed you will be going to little or no risk with the power brick by brick to make you. How flinty off there in the store but i found a network that will question science great crusade space civil strife Climate Change stop a war think cool simplify lists all that mainstream wants to do is keep us quiet here watch the right you cant keep a silence critical point c. Is cold pacific you question inside to wake we dont take sides we walk the dog our t. V. America of me real talk. You cannot be both with the yeah youre right. Im holland cook i invite you to climb with me above the main stream media empire and from that higher fantasia to glimpse the big picture question more. Welcome back u. S. Equities rose again on tuesday as we are hitting the bulk of earnings week and traders are looking for more clues on further u. S. Fiscal stimulus thus far 58 companies in the s. And p. 500 have reported and 81 percent of them have been analyst expectations now sentiment was also lifted tuesday after the e. U. Agreed to the stimulus package we discussed earlier in the program so now the attention has churned to the u. S. And what it will do before the current aid package expires joining us now to discuss is both of us cohost christine and editorial director of the American Institute for Economic ResearchJeffrey Tucker thank you both for joining us jeffrey i want to start with you now there is a lot of talk about what could be included in this next round including a 2nd round of p. P. P. Funding to hard hit businesses as well as another round of stimulus checks what are we looking at here and what are you looking at. But the markets are excited about this course but i more importantly than that i think markets are of the opinion that the lockdowns are gradually. Ending a little bit at a time the markets were strong before the lockdowns came and i think traders are looking forward to restoring some of that bit of optimism and maybe the stimulus helps i mean its helps boost most of the Financial Markets on the other hand you know from from a pure economic point of view this is just once again prolonging the pain the pain a bunch of businesses that are that are not being profitable right now because they have their Customer Base models while paying a bunch of workers not to work so this is kind of a stupid policy you know and but but the u. S. Is specialized in the last one right and how to prolong the pain as much as possible you know what jeffrey i have a cry of a follow up on that because youre just basically saying theyre prolonging the pain by supporting these businesses and basically keeping them afloat i mean would you. Basically do a survival of the fittest if you were in charge here and say if you didnt prepare a plan for Something Like this sorry its your fault. You were in charge i just say hey everybody go back to what you were doing before what you just need to do is the deliberate Free Enterprise thats what weve been needed to do this since april is just crazy ive written a 1000 articles about this we just need to free the market and stop hopping around like grasshoppers and this country acting like as if were going to control a virus that we cant control and so we need to go back to go back to Property Rights and freedom of association of that that more than anything else were going to restore the markets and ask for these Unemployment Benefits i know theyre going to be extended but its just a mistake its a bad policy to pay people to stay home more than they otherwise work and theyve gone back to work so yeah i see that all this is a pain prolongation and mostly pointless and and profoundly irresponsible you know kristie to jeffreys point about you know kind of reopening economies here it seems like economists have stopped talking about that v. Shaped rebound now despite 2 months of labor Market Growth some 50000000 americans are now unemployed and as of today as 80 percent of states have actually scaled back reopening measures consumption looks to stall out in july as restrictions are imposed once again are we seeing a hiring stall as well when it comes to this absolutely if you notice that everybody has stopped talking about this v. Shaped bounce or this u. Shaped bounce well however you want to call it exactly what jeffrey just said is this prolonged pain trade and so right now it looks like hiring is also slowing down as restaurants and bars and even some retails. There reinstituting the stay at home order and shutting down so its not only these consumer facing business that are across the board that employees are being let go of linked then also announce that theyre cutting 960 jobs or 6 percent of their Global Workforce as a pandemic is having a sustained impact on demand for its recruitment products so Goldman Sachs is also publishing a new report saying that while its tempting to believe that these new rich. Strictures would simply push back growth from q 3 and q 4 out further into 2021 the situation isnt really that simple because the longer that businesses remain shuttered the more likely they will fail and close the doors permanently even if we just continue to drag them all with additional people pete eventually you know when they open up the doors they still have they study in pay their rent based on a pay that back mortgages and everything and it will eventually lead to these businesses shut down permanently so even this temporary stall in july hiring which is expected thats going to have a very Lasting Impact on this entire recovery story jeffrey i know i know christine just backed all of your claims there which probably made you feel really good but i want to move to commodities quickly. I was. Somebody that was about standing in the summer it was printed that that was great i would do it because bobbie its a little bit jeffrey oil prices again more than 3 percent. To 4 month highs what is supporting these crude prices right now when we are still in a net surplus environment. You want to you want to hear you want to hear the summary and one word insure. The oligopoly is thats the whole story you know we got we got russia and saudi arabia playing together again you know weve lived through a historic time with oil this is very interesting people need to think about this is about a month ago theyre all weve got probably fell apart we briefly experienced what a free market oil would look like and it was weird. Like and negative right it was crazy times like whats going on here oh weve got competition weve got a market weve got people producing as much as they can and sell it to never ever will but you know it is also during the middle of lockdowns so the trice is like massively collapsed ok nobody is happy with that so they put together their little sign little cartel that weve been living under for the last 60 years so thats been restored so weve seen the prices back up again to the level that that everybody is everybody but consumers is happy with thats thats. So long and short of that but its in many ways a very beautiful thing to watch. Kristie i want to hit on a quick story here on the crypto front it looks like they are taking a stand against big tech crypto businesses are taking Google Facebook and twitter to court in a Class Action Lawsuit that could cost the social media giants up to 300000000000. 00 quickly whats going on here and whats the latest well this is really interesting because theyre taking them to court in a Class Action Lawsuit for many as from january 2800 to the present claiming that their businesses have been harmed when they banned all kept advertising within weeks of each other considering that these 3 social media giants together control a very large percentage over 80 percent in the United StatesOnline Advertising market and that ban severely hurt the way that crypto businesses acquire customers so this is being followed in australia where the action will seek damages for all right losses where crypto markets drop by hundreds of billions of dollars when this ban was instituted and kept exchanges volume 60 to 90 percent and were going to have to do a probably a whole story on that to dig deeper into that one but boom bust cohost christine and Jeffrey Tucker of the American Institute for Economic Research thank you both for your excellent insight. And finally as professional sports return amid the penn demick without fans in the stands there is one very noticeable absence were talking about and being crowd noise we take for granted watching sporting events soccer leagues throughout europe have pumped in crowd noise to telecast at Different Levels of the broadcast and with Major League Baseball kicking off a truncated season this week the league has taken its own approach. In the league has teamed up with play station 4 video game and will be the show to not only provide ambience for viewers at home but also within the stadium now according to the Spokes Person all clubs will have access to ambient and reactionary background noise blasted out. Ballpark sound system it doesnt appear as if the sound will get stale either as the m o b says it has provided around 75 different reactions to be used within a game so youll hear the roar of a crowd at a home run or possibly jeers at a missed call and if spring training is any indication it also appears teams will place cardboard cutouts in the stands so it doesnt feel so empty. And thats it for this time you can catch boom bust on demand on the brand new portable t. V. Ads which is available on smartphones and tablets through google play in the Apple App Store by searching portable t. V. Portal t. V. Can also be downloaded on newer models Samsung Smart t. V. s as well as broken devices or simply check it out portable the t. V. So next time. Join me every thursday on the alex salmond show and ill be speaking to guest of the world of politics sports business im showbusiness ill see you then. No no crowd. No shots. Actually felt. A strong no just. Switch your thirst for action. Welcome to on contact today we discussed Police Reform with philip mackerras the writer activists and ph. D. Candidate in sociology and africanamerican studies at Yale University this entire system has to be unearthed theres no way to reform its we cant tweak to reform your way out of mass incarceration or this current you know policing apparatus that we have or the culture of surveillance that is actually undeterred by a broader culture punishment and control that is its actively harming certain people but its also not operating in this way of giving public its a way that the broader public concedes that to instill the entire thing has to be an error in that there is no tweaking it but along that way there are certain steps that can take in north to begin dismantling and shifting resources our way in the end thats divest from work which is fundamentally about divesting from systems of punishment in this specific context policing in reinvesting those lines into Community Resources and institutions because we know what makes this a this community is this resource as we look around the country and say this means that most resources not least. Our National Conversation on race and crime is based on a fiction it is the fiction that the organs of internal security especially the judiciary and the police can be adjusted modernized or professionalized to make possible a post racial america we discuss issues of race while ignoring the economic bureaucratic and political systems of exploitation all of it legal and built into the ruling out paratus that are the true engines of racism and White Supremacy no discussion of race is possible without a discussion of capitalism and class and until that discussion takes place despite all the proposed reforms to the criminal Justice System the state will continue to murder and imprison poor people of color with impunity. Once again we see proposed legislation to mandate Police Reform more body cameras consent decrees revised the use of force policies banning choko civilian review boards requiring officers to intervene when they see misconduct banning no knock search warrants more training and deescalation tactics a requirement by law