Organization is warning countries that the coronavirus is literally knocking at their door. And i said yeah they should you get i mean i just wanted out of my situation i was going to try to get assuming you dont go down the road what are you going to school but im going to do that you will have. The same people close and i generally find a city just you know that old saying are going to die already down towards the people who are going to get out of it if you do theres some of that sort. Of for his part President Trump is now asking congress for 2400000000. 00 to battle the coronavirus and to help coal markets the president says the u. S. Has its situation under control. I think its going to be under control and i think i can speak for our country for our country is. Under control but again we do business with a lot of other countries we take care we work with other countries who are in other countries to be happy healthy and well theyve got to be happy healthy and well its very simple and so lets see how it all works but i think its going to work for. All the down the as n. P. R. Now both in negative territory for the year as Financial Markets are realizing that this particular crisis is likely to have a longer shelf life than what many thought was the case a couple weeks ago right now were about 3 percent down today for the for the week and doesnt look like were in oversold territory yet as there isnt enough panic because a total market capitulation after the bloodbath monday president have decided to come around and pump the markets suggesting that stocks have bottomed out and investors should come in and buy the debt it looks like the algos picked up on the tweet and started buying early in the morning but then sellers start to flood the markets again as investors do leverage forcing the indexes to get out there early market gains and turning negative breaking back below key Technical Support levels now the Energy Sector saying to more than a 4 year low and u. S. 10 year yields fell to 1. 32 percent breaking prior lows and sinking the entire Banking Sector health care remains to be somewhat of a bright spot as boston based modern ship an experimental Coronavirus Vaccine to u. S. Government researchers for initial trials utilizes m r n a Technology Platforms that directs messenger cells in the body to make proteins to fight the disease the m r n a approach can produce vaccines faster and for less money than traditional methods if found to be effective youve talked about this before so now we sit after day 2. 00 of this sell off we go into tomorrow day 3 if we see another big day of selloff is that when the real panic will begin do you think that is probably when you see a market and thats what weve always been talking about like now is not the time to go in and buy the dip as apparently president and larry kudlow seems to think. Right now its not the bottom and anyone whos trying to catch the bottom catch a falling knife so to speak that is pretty much a waste of time and thats going to cause more bloodshed later on because right now you want to see a panic sell you want to see every single hour go full blown panic and thats when you see market capitulation at the end of the day total panic sells 0 buy today in the middle of the day when we saw the market drop to the afternoon lows we did see some buying interest there that means people arent scared yet you want to see that fear factor really and when you really truly believe that there is no hope left thats when you see capitulation happen absolutely well over the spring in the are just the latest of the market selloff. And hes the editor of the logical investor well see how logical he feels about this because weve been saying john that the market has been for lack of a better term maybe this is christies term a little bubble this is with all the fed money pouring in valuations across the board but now the fed is actually pulling back and attempting to stem the free liquidity that weve been enjoying for some time at the same time the break is ravaging supply chains killing off manufacturing and production wouldnt that part of the story make the most sense to be creating a lot of this panic and yet it hasnt happened in the past when we knew there was going to be market disruption now it seems to be almost oddly timed your thoughts. You think its huge that its all culminating at this point and even youve got you know really strong strong dollar that i would add to that as well so you know you had markets rising and you had earnings starting to taper off some but it didnt seem really that big of a deal until you stack coronavirus on top of it and that really you know solidify that stumble into something so much bigger and so markets are really reacting that huge you know a couple 1000 points over a couple of days is massive and the previous person said i dont think that were done yet so we got in the gold and silver e. T. F. For a while back ago and those have done well for us but i think theres still more to go now weve seen news that the virus has spread to italy and france so does these regions have the necessary tools to combat the destruction these these monetary arm is widely exhausted by now so could this push them into an cyclical downturn. So unfortunately they have shot a lot of their best bullets that were in their gun because you know now theyre down to 0 and even negative Interest Rates and so thats thats not a good sign they always can pull a rabbit out of their pocket you know i mean they they can do things that are a little bit more nontraditional like what so it will end in japan have done whereas they do you know go out into the market and buy stocks and so there are other things that they can do but their ability to lower Interest Rates has really been limited and so i think that really wouldnt touch most european stocks even with some stimulus. You know from the wintertime with a 10 foot pole there are probably some opportunities like in the british pound and maybe a little bit later the euro but not many european stocks i would to right now weve only got one in our portfolio what about asian beings because right now theyre bracing for bad loans to spike as Business Activity is kind of dying from these quarantines what effect do you think these balloons in nonperforming loans have on the economy and how much bad debt can these banks tolerate before they implode will they need especially in china you know the peoples bank of china the p. B. s c. To intervene again. Well and it could be and obviously these things usually get worse before they get better so i would expect to see that and you might even see some Smaller Banks you know fold the Central Banks and governments would want to trust support at least some of its bigger banks so i wouldnt focus on banks that lend to japan because theyre so debt laden but but in china some of the biggest banks like China Construction Bank for instance would be one that might eventually be worth getting into high dividend yield low did so if you were a little bit more fiscally responsible and theyre just enormous so they may be looking at that way but right now i think its probably not the time to even get into them and right now only 30 percent of Small Businesses in china are back to work but that number is improving many manufacturers are still struggling to source labor but these are Getting Better day by day right now it seems so it looks like things are kind of in an upswing so why is the u. S. Equity market reacting more now when its supply chain actually recover. Getting better than before when china was on a full blown lockdown. Yet so there are some conflicting reports that really differ from what the Chinese Government says so thats part of the problem and then the other part of the problem which is even bigger is that now its come from china to europe and so now weve got 2 big trading partners that we do a ton of business with and theres you know theres grown infections in both places and i think thats really why its starting to have a huge effect on our markets at this point in time and we may not see an end in sight just yet i have heard from people who are or sourcing products out of china 2 things are happening one is theres these enormous delays and to that even for the factories that are getting back to work now were hearing that the government kind of coopted some of those factories and say well if youre going to create Hand Sanitizer instead youre going to create facemasks instead. Is there any way to work around that i mean i understand that china has this massive labor force but if they cant get back to work is there any place that manufacturing can shift to in the short term for instance mexico that have a lot of the killer the us set up for a long time but really havent been active in a long time last work yeah i dont think there will be able to switch switch gears very easily and i think this will they is going to last longer ive seen reports that some say that they want to get back to work until like mid august at the earliest so theres still a lot of their population is not getting back to work just yet john hyman editor of the logic on last i thank you so much. Thank you. Bigger isnt always better and after years of consolidation banks have gotten too complacent and too reliant on size scale and beach and no longer see the need to innovate so this creates an opening for fin tech to come in and disrupt their entire Business Model by offering a seamless Digital Financial experience from their core platform attack by nature has better access to consumer data than any bank and have uniquely intimate relationship with their customers facebook captures your social life instagram provides documentation apple fries are streaming and Storage Services and google is where you go to search for things you want to buy so how can banks possibly compete with that newfound tech startup have harnessed these consumer Access Points and are rising to charge specific tasks and services big banking provides but cheaper more convenient and better shattering the entire big bag model examples of this include cryptocurrency for payment robin hood for trading wealth fund for managing your ira lending tree for loans and more the latest success is british then Tech Revolution as a hits a 5500000000. 00 valuation after its series d. Led by t. C. B. Resolute has more than 10000000. 00 customers by offering Money Management tools and undercut a traditional banks when it comes to money transfers and f. X. The new funding will go towards expansion overseas as it sets its sights on america later this year and the one thing that all of us left out is one of resolutes core business aspects is one of the currency something that america has neglected to address in their budget to address the banks of the im glad to address it as well i mean obviously cryptocurrency in the original koine was created specifically for the purpose of working around biggs peer to peer transactions it has not fulfilled that promise but what it has done is demonstrated i think you as you pointed out the fact that technology has moved far beyond her banks are there like this huge steam liner its very difficult to turn that ship and to readjust even in their. Adoption of crypto theyre keeping the old model of banking theyre just trying to throw in a little fun tech to make themselves seem like theyre doing more exactly what we didnt see it was that google and apple even though they control all their information theyre also looking to become the new bank and the new Payment Method as well with google pay apple pay and maybe well see Facebook Like coming out this year with their Lee Radziwill and thats the goal of the libor for object right that they were project leader as o. C. Asian is all about saying were going to become a bank the problem is they keep running into problems of the regulators who say we know what youre doing zuckerberg youre trying to create a bank and get around it hes going to have some challenges. Time now for the break but i am there because when we come back one of the nations biggest media conglomerates trying to get bigger well tell you which company has swallowed up Spanish LanguageNetwork Univision or as our guest will say one of the and as we had to break here the numbers of the clothes. She still must. Do. Was not going to match the man he had killed in battle they have a need for the ranch. That if you think. About it having. Even for people. Who give the name not. What the how do we. Assume. They need the whole. Why do men know not only. People who have money in pension account people on lying in state are actually digging into their pockets because their savings rate their pension accounts are now yielding close to 0 or negative theyre taking money out of their pockets thanks to the central bankers and theyre giving it to a billionaire so he can buy jeff away so he can sell trent gets the more billionaires this is louis the 65. 00 only a living off the labor of the peasant. Is youll be a reflection of reality. In the world transformed. What will make you feel safe. Isolation community. Are you going the right way or are you being led so. Direct. What is true what is faith. In the world corrupted you need to descend. To join us in the depths. Or a maybe in the shallows. Welcome back with the stock market recording 2 days of steep drops Financial Markets have ratcheted up bets that the Federal Reserve will be pressed to cut Interest Rates to cushion a feared hit to Economic Growth a lot of this centers around fears over the coronavirus but at least one official was warning against expecting the central bank to overreact to short term market moves so it helps to sort all of this out alter of fed up with a former fed insider danielle de martino thanks for being here so what is your initial afternoon you know whats your initial thought here as the markets are seeing consecutive days in the red. Well look i think that the fed is trying its best to talk a very strong game and to provide a united front or at a master was out being fairly hawkish yesterday saying that there was no need for a rate cut rich clarity vice chair on the board reiterated that stance today that their economy continues to be in a good place but i think that theres an air of naivete about fed comments right now simply because you cannot ignore whats going on in the coronavirus or even go so far as to say that the United States is not going to be affected that the United States economy is not going to be affected by the coronavirus given that were a huge resource for tourism tourism and travel here and were not just seeing you know travel closing out of china were also seeing conferences being canceled in cannes koon in spain clearly part of italy is in shutdown mode right now so i think that you have to start looking not at whats going to happen in the manufacturing supply chain in the United States this is not a repeat of the trade war you need to start focusing on the majority of the u. S. Economy which is our Services Economy now top u. S. Central Bank Officials have said no repeatedly that they see no need to cut rates further any time soon because they see the American Economy is performing well so to speak and its too soon to judge the risk from the coronavirus so will this possibly change the feds position. Well look i think that again fed officials can can be as strong as adamant as they want the market has begun to price in rate cuts and as long as there is a majority as long as there is a 6670 percent chance of a rate cut being priced into the market since Alan Greenspan was in office in 1907 the fed has yet to defy the demands of the markets so they can talk as mean of a game as they want i dont see them backing off of Market Expectations disappointing a market i specially when youre starting to see this kind of volatility and anxiety being seen in not just the stock market but the bond market with the 10 year benchmark treasury yield at an all time record low today but when they finally decide do decide to step in and do something about it will it be too little too late. I dont think that we could necessarily know that i think that the fed might should have been preemptive when we started to see or at least speak more dovish late when we started to see how bad things could get there was quite a few mentions of the coronavirus in the recently released minutes but again there is a massive theres a huge economics conference going on in washington d. C. Right now and its clear that policymakers at the fed have decided to maintain a tough line even as the markets begin to go into this kind of panicky mode yeah until this point there is lets face it theres only a little bit of evidence here a little of all really that the coronavirus who actually did u. S. Growth it seems like its more a fear than a reality at this point it will go all economists have begun predicting some of the many ways that the coronavirus will affect it Goldman Sachs on sunday cut its assessment for 1st quarter Gross Domestic Product growth from 1. 00 to 1. 00 from 1. 4 percent because of disruption to supply chains you mentioned supply chains are going to go through a week like the one that were having right now do we expect those projections to be cut even more. I think they do i think i think that this is not this is