And miles persecution of muslims likening it to genocide well talk live to un special rapporteur young elite. Down. The giant asteroid is hurtling past earth. Strong in most. Sports including more doubts around the Tokyo Olympics is japans Prime Minister says it will be impossible to host the games next year unless the coronavirus is contained. For weeks planes have been grounded ships docked and factories closed around the world all an effort to counter the coronavirus pandemic well now the impact on the Global Economy is becoming clearer as Companies Start reporting their 1st Quarter Results the Aviation Industry for example its reeling and is expected now to take years to recover British Airways for example cutting over a quarter of its. And ab os when its posted a loss of half a 1000000000. 00 its all led to a worldwide collapse in the demand for oil and its price its now a surplus and no way to store its major exporters like saudi arabia and venezuela are feeling the crunch the ki
Place in the philippines accused of human rights abuses as they enforce strict coronavirus measures and the outgoing void to me in. Chief for failing to protect muslims im joining us with sports including more doubts around the term care limp exist japans Prime Minister says it wont be possible to host the games unless the coronavirus is contained. Just 2 weeks ago the world learned were on track for the worst recession in nearly 100 years coronavirus pandemic may wipe 9 trillion dollars from the Global Economy well now countries around the world seeing that stark reality play out on their own balance sheet. The Worlds Largest economy for example the United States well its shrunk by nearly 5 percent since the start of the year thats the largest drop since late 2008 and nearly a full percent more than expected well germany europes economic powerhouse is expected to plunge into its deepest recession in 50 years new numbers released by the government have the countrys g. D. P. Shrinking b
Actually absolutely destroy the outgoing un special rapporteur of course Operations Leader Aung San Suu Kyi over the continued persecution of Rohingya Muslims im joining the with sporting doubts around the take here lympics is japans Prime Minister says it will be impossible to host the games next year unless the current virus pandemic is contained. Its still early days in the pandemic triggered world wide recession but we now have a better sense of how hard key sectors of the economy are being impacted the Worlds Largest economy the United States has wiped out a decade of growth shrinking by 4. 8 percent in the 1st quarter according to figures released a short time ago one of its largest manufacturers boeing as reported losses of at least 600000000. 00 while european rival says that it lost more than half a 1000000000. 00 in the 1st quarter to europes largest economy will have the worst year since the end of the 2nd world war germany contracted by to. Percent in the 1st quarter but it
Your new book is called living in plain sight what really caused the financial crisis and why it could happen again. You were a member of the Financial Crisis Inquiry Commission investigating the causes of the 2007 in 2008 financial crisis. You said that only democrats on the committee but the republican appointees what did you see they didnt . Looking at the housing system in the United States with dodd frank and fannie mae and freddie mac for quite a while before i got on the commission so i had a lot of background of what was happening in the housing sector. I was looking for the commission to look into what happened with fannie mae and freddie mac and the role they played in the housing crisis and ultimately the financial crisis and i found the commission was not interested in they would not look at it. s. Host that i was outside i thought, the partisan differences between the republicans and democrats and and am afraid that the republicans felt that they just would not agree with
The scene. We had the huge selloff down 35 from the highs then the giant bounce back this week, up 19. 9 going into today. A real pasting most of it at the end of the dow with the dow slipping 915 pounds, s p climbing 3. 3 . Nasdaq falling 3. 79 just like yesterday, which had the big whoosh up, this had the whoosh down. We need to figure out whats next either a continuation of the selloff evolving into a retest, where the market goes back into earlier lows or take them out or resting period, setting us up for the next move higher not much in between here what makes the situation so dicey . Next friday we get the labor departments nonfarm payroll report based on this weeks hideous jobless claims number, we could expect a real doosey this market is a tug of war between the bears bracing for a possible depression if we cant stop covid and the bulls betting on a boom if we do beat it because of the liquidity being injected into the system by the Federal Reserve and by the 2 trillion build