Congressman ron holloway yes and president from thinks he can get a phase one trade deal done with india before the end of the year so what will that look like Richard Wolffe to break it down a lot to get to on this very busy day so lets get started. And we begin with the very latest on the coronavirus as around 2 pm eastern on wednesday markets fell here in the u. S. Once again after what looked like was going to be a rally that fall seem to correlate to news that a group of people in Nassau County new york have been voluntarily quarantined with about 83 of them being looked at for possible contamination from the coronavirus for the latest on that lets go to correspondent truly be child those who has the latest in new york at least 700 new york residents are under voluntary quarantine after returning from Mainland China this as the c. D. C. Is warning that the number of cases in the u. S. Is expected to grow. The vast majority of travelers deemed medium risk by new York State HealthDepartment Officials because. Of recent travel to Mainland China meantime none of the 700 people had symptoms and the number of them being monitored by local Health Officials is changing every day and Nassau County officials are monitoring 83 people who may have had potential exposure to the corona virus and test results for one resident is pending the infected residents have also been asked to undergo voluntary isolation removing themselves from people including their family members for at least 14 days from the last time they were in Mainland China or may have been exposed to the virus during this time they are required to report their temperature and any symptoms every day to Nassau CountyHealth Officials since the outbreak of the corona virus 175 people in Nassau County have undergone voluntary isolation and in westchester more than 2 dozen people have been quarantined after possible exposure to the virus as well even though they did not display any symptoms now the c. D. C. Is warning americans at the krona virus is likely to spread throughout the United States and its not a matter of if its going to happen but a matter of what reporting any or trinity charges are taken and again the news of those 83 people being quarantined sent u. S. Markets into a downward spiral now for the 3rd consecutive day meanwhile in europe Health Officials have announced that italys outbreak has crossed the alps and it seems to be spreading across europe in italy 374 people have contracted the virus and of those 12 of them have died all of them elderly people with preexisting Health Conditions well now it is the italian outbreak that is being linked to a growing number of infections on tuesday switzerland reported its 1st case about 80000 people cross over from switzerland to northern italy for work each day German Authorities say that a person who recently returned from the law and is now a confirmed infection as well and for italian tourists visiting Spains Canary islands have tested positive for the virus that means about a 1000 people at a hotel where they were staying are now under quarantine as a result russia is warning its citizens. Visiting italy kuwait has suspended all flights from italy until further notice worldwide there are over 81000 confirmed cases of the coronavirus of the number of deaths is that 2770. 4 u. S. Equity markets are easing up their panic plunge and instead start to slowly bleed out throughout the day falling from its morning highs and a negative the morning pop can be attributed to Short Covering and a little dip buy as investors prepare for Market CorrectionEarly Morning gains or faded by noon as the bulls spent the rest of the days trying to defend yesterdays close to no avail the heightened global uncertainty has rained hell on Global Equities this week with every sector outside Health Care Getting beaten down airlines and hospitality are down on travel lock down banks sank as 10 year yield hit new lows tech fell hard from its lofty highs and exposure to china and retail is getting choked by supply chain disruptions and finally Energy Energy is dying a slow death as the 50. 00 level is critical according to most analysts this is the Inflection Point where they start to not be able to service their debt and now there is about 87000000000. 00 in debt do between now and 2024 and 60 percent of it is speculative junk so when oil implodes under the weight of all of its debt burden all that shifts over to the banks who loaned them the money and the cycle of value destruction starts all over again and theres a tremendous amount of uncertainty as investors struggle to price in the likelihood of 3 important question how long is this epidemic going to last and how severe will it be what is the full Economic Impact of this destruction and will there be any knock on effect such as if oil were to go down in the u. S. Or banks starting to go down in china from bad loans how long will the Recovery Period be to get back to normal and will that be enough to keep us out of a recession. Until tomorrow on this we welcome former u. S. Representative dr ron paul who also wrote the book and the fed so dr ronn as the summit continues now in europe the 1st thing we should have done was to try to. Contain the corona virus and prevent the fire that spread unfortunately it only admit is that they mishandled the entire situation the virus had spread rapidly throughout a crowded hospital where a patient was admitted for treatment furthermore now the officials have refused to implement any border controls insisting that the sanctity of open borders is more important so is the european situation worsening right now because of that. Oh its so hard to figure it out because the news wont generally help us out i how you think theres been a lot of scare tactics going on its hard to figure out whats happening but we certainly know it isnt 1917 all over i think its probably closer to 1976 where there was a false alarm nobody died from the flu this is very very serious and its dangerous and you have to try to figure out what theyre doing but i just cant get as concerned as the world is right now you know this where in a current year where over 650000 people died from the flu even talks about that we lost 10010000 people in this flu season. We havent had one death really from this new virus its still very serious but closing these doors and trying to figure it out i dont think anybody knows the correct answer all of that i think people should be cautious but the reason i mention 1976 they made so many mistakes nobody died from the flu they rushed a vaccine through more people died from the next thing and 500 people got guillainbarre syndrome so 1st do no harm right now trying to figure out exactly what to do nobody has the knowledge of who gets quarantined or not i just was sort of you know how is this going to help lock some thousands of people up on a ship and dont let them go and. You have 10 people on there the sick you know i got up on the ship i did. Have been very unhappy with that so theres a lot to learn about how to manage affairs like this its theres a whole conversation we could have simply on the response that governments have had so far but just in terms of the markets you know germany is getting squeezed the kind of rushing to limit the impact of this coronavirus its being called an epidemic though the numbers are still awfully low to cold enough to make as an export reliant economy its already getting hit from its large exposure obviously to the chinese slowdown now germany has to worry about its neighbor italy has to worry about everything thats happening there a 7 percent drop in Industrial Production already how is germany expected to kind of prop up the rest of europe with this going on and are we seeing too many i guess that were propped up too many propped up some markets and governments right now. Well thats goes on and loosely and theyve been propping them up pretty well for the past 10 years and thats why theyre so much distortion and so markets go down with an excuse. And episode like this virus is an excuse but the markets were doomed to go down there still are going to go down and its not going and going to stop them but thats what the purpose of governments are especially the Federal Reserve is the propped up markets keep up the stock market and this is this is going to continue because you know the market hasnt made a correction but i think people are looking to who are who are going to blame for this well this blame the viruses blame the pond and who knows what but theres not much talk about you know the Federal Reserve and others who could distorted these markets no matter which country youre in around the world. Its a problem that has hit hard on the economic but i think its out of proportion just the other day rod. Rosenstein who at the c. D. C. Sent out a message panic panic panic in the market went down and i got 1000 points immediately from her reaction and and shes and shes. No nonpartisan and this was this was the day it did damage to the markets and a bit republicans and the democrats in tromso overseas and republicans and democrats are both i wanted billions of dollars were going to get we need billions of dollars to handle this and whats the fed going to do and right away were involved in politics thats what happened in 1976 because i was very much aware i was the 1st week i was in congress because they appropriated money and they rushed to look around and it ended up more people died from the shots than they did from from the flu so i think theres doing way too much over speculation but i think what youre talking about then is how do you sort this out how much of this would have come anyway i think these corrections were overdue the excuse for doing it recently was the virus and now the big game is who gets blamed who gets blamed for this and unfortunately is not going to be the people who who you know badger the fed and the congress to spend and print more money you know thats thats where the real problem is but theyre not going to do it theyre turned it into a political event its all trumps fault or Something Like this and thats thats the reason that i get pretty annoyed with discovered in the media and now in the u. S. Market weve had 2 days of very nasty sell off but we have an easing on wednesday you can hardly call that a correction you see a lot of debt buying already and thats a pattern of behavior in the u. S. Market because this defying really isnt justified at all or just a habit because investors feel that its safe to buy back because a central bank will always be there to prop it up so at this point its not really investing anymore its more self financial speculation so how long can this possibly go on for. Now i dont know it might have ended already because although the market went down twice and it was up a bit today its already started back down again and then they dont you talk about well theres a haven but people who know they might just go and buy gold i did that a couple days and really really pushed it up but all of a sudden we find out that the bank of International Settlements dumped sins of gold and gold market went down sharply by have been a correction in the marketplace do anyway but your point that the governments will be involved how i long will be effective well that is a good decision that the market only the market can can make you know this was before Bretton Woods broke down there was a lot of effort to break down the Bretton Woods and then finally it collapsed and that is what will happen here the federal command and they will do all these things and prop up the market what just think of what theyve done since september 17th of last year when the repo market seized up theyve been printing like crazy they say oh well but this isnt this isnt q. E. This is this is different but billions of dollars are being spent and they shift their gears so they have a lot of tools the only thing that will prevent the continuation of this will be the confidence in the dollar or am along with that confidence in our Foreign Policy and i think both of those have gotten themselves into trouble are Monetary Policy spending policy economic distortion 0 Interest Rates its all coming to an end and the question is going to be next week is this it are they going to keep propping up ill tell you one thing theyre going to keep trying theyre going to monetize theyre going to print and i think bernanke had it he says well drop the money out of helicopters if we have to because thats the only thing left and they will cant manipulate Interest Rates down and they will go to the drop of the helicopters that they must former u. S. Congressman and author. Dr ron paul thank you so much thank you. Apple shareholders on wednesday will vote on a proposal critical of its moves to remove the apps at the request of the Chinese Government this motion was prompted by numerous allegations of apple quote cow tying to beijing and blocking apps from brought forth by the some of us group which is critical about apples relationship with china now keep in mind china is one of apples biggest market was sales in the region growing more than 20 fold within 5 years china accounts for 17 percent of apples total revenue and continues to be a rapidly growing market now in the proposal it cited apple removed its i book store and i tunes Movie Services from devices owned by chinese customers it also revealed several v. P. N. Ads which are used to bypass the states firewall the some of us group demanded apple to disclose a quote description of the actions apple has taken in the past year in response to the government or 3rd Party Demands that were reasonably likely to limit Free Expression or access to information apple responded noting that 208 apps were removed last year for legal or platform violation as they relate to pornography illegal content and gambling and while Free Expression is essential to apples success it is obliged to comply with local laws to protect the safety of customers and employees now if approved by the investors this could have implications beyond china and also open the doors for tensions between apple and other jurisdictions where it operates a located little air quotes when you say kowtow which apple saluki was counterintelligence government i mean the but there are private business and they ought to just be honest about it and say we care more about money than the customer and so if the Chinese Government tells us what to do were going to do it if they would do that at least be honest to me but theyre really about free speech or is this just more more war between china and the us because it really cares so much about free speech then why. Did apple delist es a weed app or weed maps a map that searches for legal dispensaries as well as packs which is just a bluetooth enabled heating we device why didnt this disable and kick all of those apps from their platform and what was the question if they care about freedom if they can go to a speech that will does it and i will cares about making money and they care about making governments happy because thats where they offend all roup really is what it is about the about the war between china and us not really freedom of speech is done under the guise of a good point time work because when we return President Trump thinks he can get a base one trade deal from india by the end of the year well that look like Richard Wolfe will break it down and as we go to break here the numbers at the club. Oh oh. People who have money in pension account people who have money in savings 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 tiffany that he can sell trying to stop more billionaires this is louis the 65. 00 only living off the labor of the peasant. In the troubled 19 seventies a group of killers rampage street thugs of Northern Ireland that was coordinated loyalist attacks on the population tens of thousands of forced to flee their homes and what was striking to put these attacks was a fear you see the Police Actually took part in the attacks so instead of preventing them they were active participants in the burning of the streets in belfast i think more than a 100 innocent civilians were. As the review can seniors and we found out more i was surprised about the extent and its occurrence which the solution was involved in some of those cases the killers would lead to be named. I think it went to do very very top i think it is. The water where all the patients you know on the go ahead. And welcome back coming off a very friendly visit to india President Trump and indias Prime Minister modi are hopeful to move forward on phase one of the us india trade deal now we can talk about this for a year because it follows a 2 day trip to india th