A cross party rescue deal to save the economy as the demick leaves markets dealing with their worst week since the 2008 financial crisis. With the top stories from the past 7 days on right up to the moment developments as well this is the weekly on r. T. E. International hello and welcome. There is just one in this capable issues and they are dominating everyones thoughts the moment coronavirus claimed over 13000 lives worldwide with the number of confirmed cases up more than 308000 it reached a grim milestone this week surpassing china as the country to have suffered the most fate talents hes currently more than 4800 people on saturday alone and almost 800 succumb to the disease italy is shutting down all production of non essential goods meanwhile the United States is now the 3rd most affected country in terms of infections the number now over 27000 around half of those are in new york. The European Union sealed it self olfa to travelers from outside europe this week as part of wide ranging efforts to stop the spread of covert 90. 2 limits to support of the various good will we agreed to we enforce our external borders by applying coordinates temporary wish to action of known as social travel to the e. U. Folks here at or so to do this or france is popping entire nation of 67000000 people on lockdown army trucks are being seen in the streets of paris while large numbers of Police Officers are being deployed to ensure compliance. Reports on the nations high court. Fronts is now on lockdown to break the lock down that would be in school the government has talked about deploying 100000. 00 Police Officers to set up fixed points to check people who are in their vehicles the word from the government everybody in france is to self isolate president mark one was incredibly clear when he came to the president ial address on monday night in fact the one thing that came through. Is the problem is that. We are at war war to be sure we are not fighting another army knew another nation but the enemies that invisible and elusive that decision came to the french took the calls to stay at home and self isolate too likely in fact while bowls and restaurants were being closed all around them and many here in paris came out to the parks to picnic to meet their friends all to sit by the same and do the same but no more. The government has announced new measures to limit new infections by limiting contact between people as much as possible to amplify the impact of this measures paris parks and gardens will be closed. Restriction these are really centered around self isolation so people have been told that they can leave their homes but the very specific reasons that could be to go for a medical appointment it could be to top up on Food Supplies or it could be to go for a walk for Health Reasons anybody leaving their property has also been told that they need to have one of the existing practice tests to just state why maybe even their home for some of those reasons that i just outlined anybody who is cool flouting that law or into court going out for a walk just socialize with their friends rather than for Health Reasons could face a fine of up to 135 years. Old the message is clear stay at home these are containment measures similar to those in spain and italy all persons travelling must be able to justify their movements each person will have to carry a document certifying the reason of his or her journey. Was another casualty of the new stricter regime is the 2nd round the ring is a collection which will now be postponed but many had already criticised the government for allowing the 1st round to take place while sproles was a partial lockdown the makris are pushing the limits you do not say to 67000000 french people stay at home for an indefinite period on saturday evening but then on sunday morning leave your house and put your health and those of others in danger if the Health Situation got this bad was in thursday in today to the point of closing almost all businesses in makes no sense to hold these municipal elections they must be postponed because they cannot be held fairly. Holding the municipal elections is completely incomprehensible and contradicts the measures nons by the Prime Minister i hope that the government will take responsibility and change its mind as the long term began and maybe later this city possibly going to see some of the time to stay Friends Family anything to want to be isolated to give this time to see here france this idea of self isolation is something that many people fear many people who live alone the idea of not having enough social contact face to face for a 15 day period is something that they dreading in fact Something Else that they dreading is the fact that the government has said its a 15 day minimum and that these could be extended but then the people here. Just have no idea and their minds are going to return to normal schoener people ski on sea in paris during the long time. Will choose the saw the World Health Organizations europe director urge nations to take the strongest action possible to fight the pandemic and said that china will set a good example. The experience of china and all the show that this thing. Called binds with social distancing measures. When put in place quickly and effectively but events in fictions and say like lets get into the details about china turned a corner this week on whedons they had recorded no new domestic infections for the 1st time since the outbreak began that continued on till earlier this sunday among 46 new declared cases all but one came from abroad chinas tough response to contain the spread of the virus has been heavily criticized along the way but as double quarter reports many countries are now adopting similar measures remember when only china had to deal with the corona virus the west had plenty to criticize about beijings handling of the crisis back then when europe and the us didnt have to get their hands dirty. Measures should also be implemented with consideration to the publics willingness to comply with government control efforts now that the critics are in the same situation that china was in just a month ago it seems like they werent creative enough to come up with their own solutions after the coronavirus ravaged europe governments across the continent started enforcing lockdowns people confined to their homes streets virtually empty just like in china at the height of the outbreak. Gatherings family get togethers and social functions will no longer be permitted walking to meet friends in the park or on the streets will no longer be possible any elderly daredevils that venture out of their homes could face have to find or even a police baton and all the while militaries across the continent are mobilizing in switzerland its the biggest since world war 2 and in france army convoys are becoming a regular sight in the suburbs. To bomb front. Although its not like they have many places to go the entire European Unions closed its borders anyway and on top of that theyll be under the watchful eye of those dystopian Police Drones just like the chinese ones that frightened more than a few in the western media the country taking some extraordinary measures to contain this Outbreak Police are using drones equipped with a public address system to tell people to wear face masks and stay indoors to stop the spread of coronavirus and drones are flying up to people in public and yelling at them for not Wearing Masks in fact were hearing of mask shortages drones soldiers lockdowns whatever communist china does it the western media loves to call it all off thora tarion ism but what even makes these measures democratic or not at a time of crisis shouldnt people be focusing on which measures are the most effective. We discussed what nations can learn from chinas experience with commentator chadwick Public Policy expert. Joel crises tend to strengthen the hand of the executive were seeing a tremendous increase right now in the federal government power in the United States so there isnt theres even some talk of you know about martial law curfews i think its terrifying i think its really disturbing and its you know there are some constitutional scholars out there that are that debate whether how constitutional is i think its its shocking how easily americans will give up their liberty but that said the u. S. Is a democracy in china is an authoritarian country but in general in terms of the continuum between Democracy Limited government and authoritarianism the u. S. Government is moving more and interaction of china while still trying to maintain some of our time a crowd of norms i think that that max is absolutely correct that were seeing just how swiftly the state can expand out how it can come in and become more authoritarian and you know in new york city right now its a ghost town here and it and you know the mayor wants to quarantine the entire city the governor wont let him know wheres the wheres the dip coming from its coming from the hysteria that anik i mean weve got every restaurant and bar and Retail Store Closing our biggest cities where i disagree with my colleague is that i actually do you view this threat as extraordinarily severe and and not just scary. But consequential given the nature of the threat it is reasonable for the government to intervene in reasonable ringback ways to try to mitigate that threat particularly by enforcing social distancing so that we dont infect each other needlessly theres an insane amount of panic out there being driven by the media and meanwhile when you listen to the experts when you actually listen to them and you listen to the crowd of iras task force that theyre very calm theyre not freaking out and they give it pretty. Simple basic instructions to people. The u. S. Senate votes on a stimulus package later this sunday to inject stability into the economy after 2 weeks of plummeting stocks mosque layoffs a bipartisan deal has not been reached yet but is reportedly getting close Top Congress Leaders will get together for their final discussions later President Trump revealed the initial plan tuesday. By making shared sacrifices and temporary changes we can protect the health of our people and we can protect our economy because i think our economy will come back very rapidly one day well be standing possibly up here will say well we won and were going to say that sure if youre sitting there were going to say that and were going to win and i think were going to win faster than people think i hope. Will among the trillion dollar plus emergency measures on the table tax rebate measures to help struggling Small Businesses one of the president s core ideas is to directly meal checks to americans negotiators have also apparently agreed to boost paid sick leave a suggestion by the democrats which had remained a Sticking Point between them on the republicans. Well markets reacted positively to the news on choose the which shares jumping slightly mostly though those markets spent the week struggling with fridays closure marking the worst week since the 2008 financial crisis right past the effects means whats going on in the world economy. Unless you majored in finance everything thats happening may seem a little overwhelming what is going on why are markets melting down while bankers whirling around like headless chickens and a few minutes with this monopoly set ill explain my everything seems to be crashing and burning what the hell is a fiscal stimulus and why is everyone crazy about rate cuts 1st that said the pieces here are investors meaning millionaires youre middle class with maga savings your pension is here all of them have some money saved up these days you dont keep your money under your mattress you want to return it right interest a pretty good pension so you take this money and you put it in the banks depending how smart they are all how greedy they are they promise you x. Amount of profit per month the banks then go ahead and loan out this money to whoever needs it they drive our entire economy the new hotel built in your city the new jet purchased by British Airways the new hips the bar bill down the road from you your mortgage to buy your house comes from the bank so all this money goes into the economy to keep things running and here is how it runs every month these people make payments to the bank here every month the same payment goes back to the bank the bank then pays the investors the investors then put the money back into the bank this is obviously simplifying things but you get the gist of it its a cycle it all works great while it works but then something unforeseen happens like a mortgage crisis or a pandemic virus clubs and pubs are to be closed along with theatres museums do Sports Centers and Similar Establishments and retailers with specific sanctions. Now is the time to take extra steps we are ordering the suspension of all retail activities with the exception of groceries pharmacies and other outlets selling fonts of goods that suddenly mass shut down quarantine factories businesses come to a standstill people lose jobs stop paying mortgages suddenly people arent paying the banks back and the investors the markets your pension manager they start panicking that is their money stuck potentially lost they see the news pandemic they call the bank they say they want their money out pull my money out of the markets out of the dow jones out of b. P. Out of up all the markets crash but the banks dont have it here is where the government step in before this mass panic and a run on the banks the government say the magic word bailout Fiscal Relief lots of words but its the same thing the government pulls money out of thin air the money presses and gives it to the banks so that they can keep paying investors its all pretend play they just simulating that everythings fine by printing ridiculous amounts of money and passing it back and forth between each other the real economy the factories in the businesses these guys are in quarantine and shut down but the entire point of this little show is temporary live this illusion has to work for a little while weeks months to allow the economy to recover to prevent the banks from going bankrupt and recalling all this debt to help these guys get back on their feet and start paying their debts back you dont need to be a new to the economist or an economist to realize how how fickle how fragile this illusion is the collapse of the markets is a clear very. Around statement the entire Investment Community which is not the small people who have a few shares im talking about the people who manage Pension Funds who manage bank warts on wheels and so on have a massive loss of confidence in the government of the United States or in the private economy to get out of this disaster were running on borrowed time they can keep printing money for too long or inflation goes through the roof money becomes worthless the illusion will eventually wear off even the most optimistic investors can only live in denial for so long and will realize that banks are living in a dream world then it all collapses see the world up until now has been weighing lives vs the economy for all the criticism and ridicule of the world through a child that they shut down everything sacrificed their own economy to keep the virus from spreading the west they hadnt the west ridiculed that this means chinas response is incompetent they tried to keep the markets happy rather than the people safe and what they got america and europe is the worst of both worlds and economy on the brink of collapse and the death toll fast eclipsing that of china right because they have all the risk of infection is reaching across all sections of society after a short break well look at the countries where political life is suffering disruption. Is your media a reflection of reality. In a world transformed. What will make you feel safe from. Isolation or community. Are you going the right way or are you being led somewhere. Direct. What is true what is faith. In a world corrupted you need to descend. To join us in the depths. Or in maine in the shallows. Join me every thursday on the alec simon show and ill be speaking to guest of the world of politics sports business im show business ill see you then. Infections are also lighting the car doors of power with senior lawmakers falling ill in several countries this is there a continuing take on the corona virus spreading across the World Governments have been working on contingencies to make sure the wheels keep turning take a look. There are far more politicians who have been infected than you would have by statistical chance politicians are overrepresented in the number of people whove been diagnosed. Ive. Ive. Been getting reaction of course to all developments including one of the worlds leading thinkers and slovenian philosopher is low voice he likens the crisis to a wartime scenario but emphasized to us the need for Meaningful International solidarity. In previous cases people were thinking just about isolation and so on until one day i shook we are becoming aware that we cant go in there unite that coordinate that way we are all the entire humanity in we sit in the same but the big loser i think will be precisely a nationalist racist and to want within our country to isolate itself until of course we need to get an inch and like for example take europe we should act in a united to a shelter think its job that we can recreate that street in mosques whatever whatever is needed and go on and so on i think that. In this sense we should be shape riyadh in the middle of that military operation we should be im not here appealing to some kind of abstract sense of. It keeping our interest in germany now. They may get an Even Stronger probably epidemic and conant to want so it shall think