Crosstalk economic recovery im joined by my guest Benjamin Cohen lubbock he is the director of the Free Market Institute a professor of economics at Texas Tech University as well as a senior fellow with the independent institute and in los angeles we cross to he is an independent economic and geo political analyst as well as a former commodities trader all right gentlemen crossed up rules in effect that means you can jump in anytime you want and i was appreciating lets go to los angeles 1st here i said in my introduction i guess probably the most important question there is as we come out of this pandemic and its all going to be about the economy and its everything were going to think about for the next few months if not years is about recovery so infer a very simple question will it be a v a you or in hell go here well weve been in an l. Shape depression since the 2008 financial crisis i mean only that true Economic Data on unemployment inflation g. D. P. And the like have been warped
The overall death toll the coronavirus nears 50,000 globally. [indiscernible] 100,000 military body bags for civilian use. U. S. Officials say china concealed the extent of its outbreak, but futures rise in europe and in the u. S. After the worst drop for the s p 500 in two weeks. And President Trump voices optimism that russia and saudi arabia will end their oil spat soon. Brent and wti each jumped 5 or more. You can see here a 20 jump over the past three days. We are just under an hour away from the start of cash equity trading in europe. We will take a look at where futures are trading now. We have, in terms of european slighterder gains then we had in the u. S. If you look at the dow jones and s p 500, they are each up about 1. 5 in terms of futures, so bigger gains in the u. S. Picture , though further away from the open of cash equity trading. What does it look like on the gmm right now . Just had numbers come through on the u. K. House prices, i will come to that first. House pr
Die after spending months adrift on a boat. Battling poverty and decades of repression we look at how one Indigenous Community in canada is no working to prevent the fire spreading. And on santa hamas has support around the world continues to take a big financial hit u. S. Soccer federation asked me no 4th deployment of the knows its Youth Development academy having a World Champion at womens team. The covered 1000. 00 pandemic has left no country touched and its having widespread ramifications not just in health but in politics and diplomacy to china which was the initial epicenter of the outbreak has once again strongly. Decides the u. S. President s decision to cut funding to the World Health Organization state media is calling it a move against humanity that affects every country by the International Monetary fund says the crisis will cause asias economy to stall at 0 percent for the 1st time in 16 years it says the outbreak has taken an unprecedented toll on the region trump donal
Donald trump says the number of new infections in the United States is slowing the president is making a prediction despite his country marking a record 2300 deaths in just 24 hours he says restrictions could be lifted and up to 30 states in just 2 weeks but hes also struck and another threatening ours as mike hanna reports. These daily news briefings up a ported lead to keep the nation informed about the battle against a coronavirus but invariably the president strays off message and today he used the forums to rail against what he described as congregational obstruction in the confirmation of government officials and threatened to Adjourn Congress and then push through his nominations during the recess the senate should either fulfill its duty and vote on my nominees or should formally adjourn so that i can make recess appointments we have a tremendous number of people that have to come into government and now more so than ever before because of the virus and the problem its a threat
Also coming up hungry and exhausted to hundreds of earth are rescued but all this stuff to death on a refugee boat. The coronavirus pandemic is chipping away at the Global Economy and its now brought forward the worst stretch of job losses in the u. S. On record figures just released show 5200000 americans filed jobless claims last week thats roughly one in 7 workers and in the past 4 weeks a total of more than 22000000 americans have requested Unemployment Benefits and if you are as President Donald Trump is expected to release guidelines on how and when to reopen some u. S. States stand virga is a resident scholar at the American Enterprise institute he says steps to reopen the economy will work as long as people dont feel safe outside their homes. They were definitely not ready for the economy to reopen because obviously you know the president can can can say to the left would like to reopen the economy and even governors and mayors can go people that are ready to reopen the economy