The Dow Jones Industrials plunged 2,000 points. And trading was halted trying to break the slowoff. The Circuit Breaker slowed but didnt hit a decline. The national leftwing media playing up fears of the coronavirus that affected 113,000 people in 111 countries and territories around the world. Well turn to the dimensions of the pandemic here at home later in the show. Vladimir putin refused to go along with saudi arabia and opec to boost oil production. The result soil prices suffering the worst collapse since 1991. For the day, the dow, the nasdaq and s p dropping 7 . The losses amounting to 2. 5 trillion in lost market cap. Well have lots more on what to expect in the days ahead. The worsening outlook for the coronavirus pandemic is bringing more fears. A cruise ship carrying 3,500 people docking in oakland after spending the past five days offshore. 21 people on board the ship tested positive for the coronavirus. After removal from the ship all passengers will face a 14day quarantine. There have been a total of 607 cases of the wuhan virus. They have been confirmed and 22 people have been killed. Those numbers pale in comparison to the number of flu cases over this blue season. The relative scale of the coronavirus and the flu in this country consider these numbers. Since october in the United States alone, the centers for Disease Control reports there have been 34 million cases of the flu. 300,000 people have been hospitalized. These are the widest ranges you will see. At least 20,000 americans have been killed by the flu. At most it has killed 52,000 americans over this flu season going back to october. Obviously wide ranges but sobering estimates by the cdc. The coronavirus making an impact on capitol hill as well. Five lawmakers deciding to selfquarantine themselves after they came into contact with someone who had the coronavirus, four of them are republicans who had contact with a man at last weekends cpac event in maryland, 10 days ago. Congressman doug collins is one of those lawmakers and he joins us tonight by telephone. I will begin bying, how do i will begin by asking. How do you feel . We feel great. We are asymptomatic. We have been going great since the cpac. But after finding out we had cometh contact, we didnt find outle until 1 00 this afternoon that we are one of those people. We need to take our precautions. When you follow precautions you do whats right. By simply having contact, minimal contact with someone, you dont automatically get the virus. We feel good being on the show with you. Lou i want to commend you for doing the right thing, self quarantine when we find out we have come into contact with the virus or someplace hosting the virus. Surfaces, whatever it may be. Your thoughts i want to put up the others who have selfquarantined if i may and senators. Congressman gosar, congressman collins as you are aware, senator ted cruz, and brownley are all selfquarantining. How closely in contact were you with the Vice President or the president during your type at cpac . During your time at cpac. We have had contact last week. It was a regular workweek. And we worked with the president. But it needs to be confirmed that im not symptomatic. And up also past the normal incubation period which it would have shown up. I wish we would have found out sooner. But this just goes to show what the president and Vice President said to calm our markets and calm our folks is this is something to be taken seriously. Do the basics and make sure you are take care of yourself and well get through this. We look forward. This an example. We want to remind people, doing the basics. Like your mom used to tell you. Wash your hands, avoid people who are sick. If you are not feeling well, go to the doctor. The doctors i talked to said i dont need to be tested because im not showing any symptoms. Lou we need to keep this in context as we have done throughout the coverage of this outbreak. We are talking about 22 deaths, 607 cases. And we are talking about a influenza season that ranges from october to april. And we know there is a range, its only that range of somewhere between 20,000 and 6 million americans who have died. It seems the leftwing media has lost all context here. We are making sure people know if they do the precautions, even if the normal flu season, these will work for all these communicable types of virus. Do the basics, do the cleaning, and personal hygiene that is respectful for everyone during this time of year. It calms the market and lets people know though it may continue to rise and there will be more case, well get through this and our folks and our economy are strong and thats what the Vice President and the president s task force have done today. Lou congressman you have set a terrific example for all of us. Stocks today pummeled by the coronavirus fears. The price war between oil giants, saudi arabia, russia and opec. Crude oil falling 35 . Let me say that again. The price of crude oil is 31. 13 a barrel. Brent crude fell to 34. 36 a barrel. The dow down 2,014 points. The s p down 200. The nasdaq down 625 points. You will forgive me for rounding that off i presume. And all of the index is down more than 7 on the day. Joining us is the managing director at moodys and great friend of this broadcast. Great to have you here. You and i have seen a few. This one i have never seen the likes of, going back to 1987. This is something special, something unique and you be precedented about it. Your thoughts . Its the visible black swan. We havent had anything like this since the spanish flu. There is no template. No precedent for this for people alive today. So we are dealing with a lot of uncertainty. Its understand stable markets are jittery. Lou its also understandable that there is not a big applause for 31 dollar a barrel oil. This is a destabilizing event in the Global Economy which is already fearful of the impact of the coronavirus, fearful of the uncertainty because people have misjunked what that effect might be. I cant think of a time when more concern has surrounded the economy in the globe than right now. We look at treasury bond yields. They are all under 1 . The argument has been that when we would see treasury bond yields so low, that would be in reaction to a recession. But the good news is we are not there yet. Lou the reaction seems to be the worst case the reaction in terms of policy seems to be toward the worst case scenario. Not that its here or at hand. But rather that we are whether its the Federal Reserve or policy makers in the white house or capitol hill. They are looking at the worst case scenario, and that is being compounded by the Left Wing National Media who wants to make political hay out of this. The last thing people want to see. You will have a lot of Small Businesses that may have problems meeting payroll, Small Businesses making good on their debt obligations. We need some support in washington and backup that compensates for this act of nature. Lou the idea that there are some steps being taken. The white house made it clear not on today, but . Days previous that they will do whatever they can for people who do not have understand. They will get tests for anyone who requires them and perhaps even beyond that. These are all steps i hope personally the white house makes sure that money goes to individuals and not necessarily ngos and nonprofits, but directly to individuals. 2008 we watched instead of giving that money to people who were being foreclosed upon, they were giving it to banks and various other entities rather than moving that money directly to the people who needed it most. We learned a lesson . 2008 and that is you can save a lot of money by spending it directly for those who need it most. We have to think of those groups that are most vulnerable. Elderly americans, people from preexisting conditions. Thats what we have to be concerned about. Perhaps thats where we have to go out of the way to see that these groups are protected. Lou i have a personal aversion to some of these words that are used. Communities, elderly, weird old people if you are over the age of 60. But if you have got infirmities, you are sick, whether if you are at that moment sick or not, you have a person who has an illness of some sort. Talk straight. We are americans. Our Public Policy people want to divide this thoin nonsense in my opinion. When you talk about people being hospitalized because of the virus. They should point out the average age, whether they have a preexisting condition. That might lessen the fear fact for that has arising. Lou older folks have every reason to be fearful in this contagion if it does reach their city, community or neighborhood. It obviously is hitting people hardest who are 80 years order older. The next is 70 and older, and then 60 and older if you are sick in some fashion. It makes sense. Come pr compromised immunity. Lets not forget about those businesses that where being hit hard by this unexpected event. Lou i think this is a country, we are rich enough and Strong Enough that we can set a standard for the world. Im pretty sure its exactly where this period thats so uncertain will be remembered in the years ahead. Interest rate cuts and tax cuts. Target the aid so it does the most good. Lou john lonski, how soon do we get out of it in. I will make this forecast. If im right i will get the nobel prize. Well be out of it when the heat of summer comes. Getting in trouble now. Lou up next. Some American Technology companies are willing to sacrifice National Security for their own bottom line and they have the chutzpah to stand up and say they are just worried about the trade deficit, forget National Security. Well take that up with someone who never forgets about National Security. William barr on capitol hill talking fisa reauthorization with republicans. What kinds of deal are they making . Well find out. Judicial watchs tom fitton who watches such things closer than anyone joins us next. You work hard for your money. Stretched days for it. Juggled life for it. Took charge for it. 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Were helping all kinds of businesses go beyond customer expectations. How can we help you . Its more than just fast. It keeps all your devices running smoothly. With builtin security that protects your kids. No matter what theyre up to. It protects your info. And gives you 24 7 peace of mind. That if its connected, its protected. Even that that petcamera thingy. [ whines ] can your internet do that . Xfinity xfi can because its. Simple, easy, awesome. [ barking ] lou breaking news. Attorney general william barr meeting with House Republicans to talk about a plan to reauthorize the fisa program set to expire at the end of the week. Fox news being told both sides appear close to a deal. Republicans saying there are several items being pushed in any reauthorization package. The president said he does not want reauthorization without reform first of the fisa legislation. And operations. They include making the department of justice show their work in order to justify any fisa investigation. Penalties for any who politically abuse the fisa process. And the production of a transcript of a secret fisa court bree seeding. Any court proceeding. Any and all of them. Vote in our poll tonight. Should fisa absolutely be reformed before any reauthorization is considered . Please cast your vote on twitter loudobbs. Joining us tonight is tom fit on, the president tom fitton, the president of Judicial Watch. This has a certain smell to it, tom, to me at least. Your thoughts . Congress is being asked to reform fisa and we still dont know the scope of the criminality behind the fisa with carter page and everyone else. We asked for the transcripts of the fisa hearings for the four warrant applications that targeted the candidate for president. This is a scam that we need fisa to protect our National Security. The president has inherent ability to conduct surveillance for National Security. We need to put people in jail who violate the law. Its absurd. Lou absurd, and it is also disappointing. Thats the word i will use. Frustrating. Attorney general barr, we are told repeatedly from friends and Close Associates that hes the man for the job and we can trust him. What we are being asked to do in this instance in our republican and democratic legislators in washington. We are being asked to trust mr. Barr to do whats right and take care of all those breaches and abuses of trust by federal officials, namely those in the department of justice and the fbi and our intelligence agencies. In some cases the chiefs of those agencies and not worry our pretty little heads about the details. The concern about fisa is the opportunities for abuse. They are note policing the fisa abuse taking place. Reform isnt going to fix it. We dont need fisa. We didnt have fisa to try to reare strain the president in the 70s. Its like the war powers act. But the whole point is, what do you do if the law is broken and there is abuse of power . Nothing is being done. I am not hearing anything for reform to show me there will be accountability for whats going on. Lou its an important question to ask. Kevin mccarthy, the minority leader in the house. Its of particular interest to the speaker of the house, nancy pelosi who made it clear who her friends are in high places and the department of justice, and the fbi. The democrats seem to have more friends than the republicans, i will put it that way. I dont know why any republican would accept this nonsense. Not a single reason. Let me turn to the Hillary ClintonJudicial Watch deposition. Where do you stand with it. Time is running out. The court ruled she has to be deposed on the seem case within 75 days. That runs may 16. We dont expect her to appeal it. Whats interesting is the court excoriated this Justice Department and state department for trying to pretend there were no more questions to ask. And we had the fifth amendment asserted indirectly. One of the lawyers for Hillary Clintons email vendors said his client will assert the fifth amendment. The fifth amendment raise its ugly head higher. Hillary clinton after all of this is happening or the weekend said the concerns about the emails are bogus. We have an indication about her views of the courts concerns about what she did with her email system. Lou i would like to take up so many things including the biden criminal enterprise. But i want to 0 quote judge roy lambert. I think the audience would be well served to see this. The clinton email system was one of the gravest modern offenses to Government Transparency according to judge lamberth. One company says they have a vaccine that will be ready for the open mark it. Chinas economy feels the pain of the virus. Bell] hello, i saw you move in, and i wanted to welcome you to the neighborhood with some homemade biscuits oh, thats so nice and a little tip, geico could help you save on homeowners insurance. Hmm cookies uhh, biscuits. Mmmm, is there a little nutmeg in there . Oh its my mums secret recipe. You can tell me. Its a secret. Is it cinnamon . Its my mums secret recipe. Call geico and see how easy saving on homeowners and condo insurance can be. Ill come back for the plate. From across the city to come to this fellowship distribution spot and get food that they cant afford. sorrowful music [announcer] there is an emergency food crisis for elderly Holocaust Survivors in the former soviet union. [yael] this is a crisis. These elderly Holocaust Survivors are struggling to survive. Theyre starving, have little money for food, electricity or medicine. [announcer] just 25 provides one needy elderly holocaust survivor in the former soviet union with a special emergency food package that contains a note saying its from christians and jews in america who want to bless them. Call now. Please call the number on your screen. In ukraine, theres no support network. They dont have food cards or neighbors that come in to help. Theyre turning to us because they have nowhere else to turn. The bible teaches blessed is he whose help is in the god of jacob. He upholds the cause of the oppressed and gives food to the hungry. [announcer] these special passover food packages represent a gift of life for destitute, elderly jews in the former soviet union. Just 25 provides one elderly holocaust survivor with a special emergency food package. Call right now. Please call the number on your screen. [yael] what i pray is that you wont turn your eyes, but you will look at their suffering and your heart will be changed. [announcer] we pray that god will move upon your heart and send an emergency gift of just twenty five dollars so that we can help more frail and lonely elderly Holocaust Survivors in the former soviet union before its too late. sorrowful music lou joining us, dr. Michael pillsbury, author of the hundred year marathon. Lets start with the report from the wall street journal. This is a stunning report. Exports by the chinese from january and february versus a year ago, exports down 17 .