This mean dont you think its time i was on the next sharing. Some emotion some are. Very uncertain. Some businesses are. Last. 30. Rock up and the baby had a fever of 38. 00 so point 30. 00 were hoping thats. All ok. This is the bustle. Business show you cant afford to miss. In washington coming up oil markets try to stabilize the head of an upcoming meeting between some of the Worlds Largest oil producer is looking to put a stop to plunging prices how much help direct actions have slowed down coronavirus and factions well talk to our panel about reopening the economy and when that could actually happen respiratory maybe stocks but countries across the world especially spain are worried about what will happen to growing crops and the need for Migrant Workers we have a show for you today so lets go and read it. And we begin with our daily chrono virus update the Global Pandemic now nearly 87000 deaths and more than 1400000 and factions on tuesday President Trump the World Health Organization even threatened to withhold funding from the institution he said the organization is very china centric. W. H. O. Thats World Health Organization. Receives vast amounts of money from the United States. And. We pay for a majority of biggest portion of their money. And they actually criticized and disagreed with my travel ban at the time he did it and they were wrong theyve been wrong about a lot of things. And theres a lot of information early on they didnt want to do very seem to be very china centric. And we have to look into that so were going to look into it with Chinese Foreign ministry responded to trumps comments by defending the United Nations health agency. China will as always firmly support the work of the w. H. O. And support the w 2 to continue to play a leading rule in Global Cooperation in the fight against the epidemic amid the current debate demick the United States has indicated that it will suspend funds to do. This will have a negative impact on International Cooperation in fighting the epidemic we hope that all countries will hope and support each other in jointly contribute to the global fight against the epidemic. Now lets take a look at some of the numbers here a global level the United States it remains a country with the largest number of confirmed cases with 404000 the death toll now at nearly 14000 and even though experts are now saying that the model is changing and it predicts even fewer extreme cases the death toll is expected to reach about 82000 by august another hot spot which is italy which is also the 2nd largest number of deaths with more than 17000 and the early 140000 cases spain just behind italy of the countrys crisis has accelerated even what they lower a number of new infections space spains that death toll actually surpassed the 14500 now lets look at some of the worlds safest spot well thats for now at least will taiwan a country so close to china has managed to control the spread of the coven 19 the island just east of the mainland has some experience in dealing with these sort of crises given that it was among the worst hit territories during the sars outbreak in 2003 taiwan has just under 400 cases and we under 300 cases and some south them are. Countries argentina colombia and venezuela all reported hundreds of cases each now over to the United States where new york its still the countrys up a center now although the state is reporting fewer new cases it did see a surge in its death toll with the biggest jump on tuesday since the start of the outbreak the states death toll now at nearly 5500. 00 now michigan and illinois also hotspots in the United States it could they could eventually become the next epicenters louisiana where 26 percent of all tests have come back positive has more than 16000 confirmed cases and finally lets look at some states with some lower spread of the virus starting with wyoming with just over 200 cases new mexico has less than 1000 and West Virginia which was one of the last states to even report a single case has nearly 500 infections well governors across the United States are actually thing a possible lot of this curve thats in the latest data but for more numbers and information on the coronavirus be sure to check our our portable dot tv app and look for the section tracking coronavirus but for Market Analysis and impact that we continue to see well bring in the best cohost Christine Christine how are the markets today. Well sarah world equity markets move higher as or oil prices stabilize on wednesday right ahead of the meeting between russia and saudi arabia in the hope that there was soon be a resolution to the month long price war the b. T. I. Stars as much as 12 percent in the last hour of trading leaving the rest of the in that piece about 3 percent the 2 oil giant producers have agreed to deep cuts but only if the u. S. And several others join in with the curbs in order to help prop up prices however in an attempt to have its cake and eat to the u. S. Responded that the u. S. Output have already fallen by 2000000 Barrels Per Day without any Government Action and it will not intervene into the private market obviously that didnt fly as russia responded that Market Driven declines in oil should not be considered as cut intended to stabilize the market they said that quote these cuts are completely different cuts its like comparing a length and wit so theres a lot of expectation and optimism leading into the call thursday which will be followed by g 20 Energy Ministers meeting on friday where countries are called upon to lead a coordinated action in order to stabilize oil and the stocks pressured by the chrono Virus Outbreak led the market higher today with airlines gaining about 4 percent and casino names advancing 3 percent many investors believe that were still in the early innings of downward e. T. S. Emissions Market Conditions can remain choppy for the next few months the demi tail also published a piece wednesday where it doesnt see a recovery in global trade until 2021 and weve lived an age of globalization and trade for more than a decade now but that has quickly ended the pen demick has exposed the false promises and realities of these quote International Alliances and supply chains so as trade barriers come up supply chains were broken and every single country is obsessed with how to ban certain exports and hoard protective equipment and ventilate baiters for their own citizens the u. S. Banned Companies Like 3 m. The maker of asks from overseas sales india and herm banned exports of hydroxy couric when which has been touted by President Trump as being effective and battle battling coben one team though the latter has since been relaxed after come threatened with retaliation. Protectionism is the new way that acetylene as travel and tourism are going to be highly monitor Going Forward the expects trade to fall between 13 and 32 percent in 2020 as a means for International Cooperation for sustain inclusive recovery but the big question remains who is listening and who will need the International Cooperative efforts who must cohost christi i thank you for that for now for more we bring in host of economic day and author of understanding socialism professor Richard Wolfe and c. E. O. Of transform Many Research tobin smith gentleman thank you for joining me today. Lou lets start with with you tobin i want to ask you this now mcdonalds global same store sales dropped about 22 percent just in the month of march this is a global chain that always does well even during a recession this is because of the cheap prices toben what is it is it even fair to use this as a measure of where our economy is actually heading. Well you know it actually is i mean its food its somewhat discretionary but you know they have dried up and i will tell you all over there were other garbage in a mcdonalds at every i certainly every continent you get a lot of value for what you know you pay you know you lira or drone or drugs more or whatever and youre going to see them drop off another another 20 percent because we didnt have the lockdowns going at the time that the they reported it so i use it as a barometer of retail but you know the question is have we priced that into the market and i think what were seeing a little bit here is people are are taking a deep breath theyre looking out 691218 months and saying man if i could buy mcdonalds for half the price it was you know 3. 00 weeks ago maybe its time to buy it maybe but i mean it does offer of more Healthy Options now adays and it is expected to do a lot worse in april but well see if that actually what happens to the fast food chain. Professor wealth let me ask you this there are some preliminary signs that infections are slowing down they have helped the market obviously officials must still have to cautiously plan on how and when theyre actually going to reopen americas 22 trillion dollar economy now everyone is hopeful to get back to business as soon as possible President Trump saying that hopefully its by may now but there are a host of Unanswered Questions when the stay at home orders were actually will it be lifted how will people at work be monitored how are we going to limit the people of crowding for example theatre or stadium what do you think well see. Well i think it pretty a lot of 2nd guessing is going on it is going to be disappointing this is a very serious i wish we didnt know even if we didnt catch it a little early in approaching whether it will come back whether the current strange or mute so that the very best is good and. Youll all solutions we will be out of date almost as fast. So theres a lot of dry the market the uk but its mostly on why speculation not grounded in any. Science at all and use the dimension well document. If scheme were to come back to the situation that is cities such the sea big issue right. Well dr fox he has said that things may there will be possibly a new normal he said time and time again that this could be cyclical that the solution here is a vaccine but then there are also those concerns that the vaccine may come out too quickly mutate into another type of a virus i mean we dont know if theres not enough testing but i guess i will have to to see where where this goes from here because again like youre saying there is no timeline to this but i want to ask you this professor what do you see a global to. Read ever getting back to previous highs i mean the u. S. China trade deal phase one was sign in the end of last year about what new lessons are we learning from this as companies are going to be focused on being more local and domestic to minimize the supply chain disruptions. Think the issue is going to be very political are we going to go back to an internationalist in what you call little ization or anything else or it is what the trumpet ministration has initiated a really nationalist in richards every country for it sounds and everything but he glacial shit that they cant manipulate for their own admitted he is also world wars and wanted to get their commitment that we did have the International Order to destroy ourselves if we go back or nationalism now any lets say its all bets are off all supply chains have to be reorganized the tensions in difficulties which may be difficult to solve. Or going to be difficult is if we have the kind of time just issued that is represented by the direction taken by mr drop out tobin i want to get one last question for you have we actually reached a peak of it is this optimism that seems to be going on right now as coronavirus seems to be flattening a little bit as weve seen in the last couple of days with the new york city whats going on here. Well remember markets look forward and they typically look forward 12 to 18 months what happens in this recession that we have in this bear market is that nobody was willing to look out for a while 12 to 18 months because no one literally had any were going to idea about what is going to look like were starting to get some contours of what its going to look like and i my advice to your viewers always is as an investor is pretend youre in a time machine close your eyes and now youre in the spring of next year what companies are going to be thriving and what companies are not this is where stock picking actually works quite well we we work of this letter subscribers and run money and i will tell you weve made a ridiculous amount of money in the last 23 weeks by not panicking and by buying things that are 90 percent off sale that if you close your eyes and think a year and a half theyre going to be right back to where they were so panic never get makes any money panic just lose your body and what we saw in that you know 35 percent drop off in essentially 6 trading days that was pure panic that was for selling that was margin calls it was every horrible thing that could ever happen out of esther and now people are excelling a little bit remember new york citys the center of all this and all the bad stuff was happening in new york city and and in new jersey where all the traders live so there was a lot of emotion panic that cause that now the dust is settling a little bit and now we have to look out to next year because if you look at the next tomorrow i could be able to make a good decision well theyre trying to look like President Trump is trying to look for the next month right i mean he extended the lockdown till at least april 30th at 1st it was nationally only 15 days and it will take some time because we know that each month the Major Economies spend in lock down it knocks about 2 percent of their annual growth this is according to c. D. C. Which is they the Global Markets have seen the largest biggest monthly drops on record so this is definitely going to affect global economies like you said maybe up to a year economics professor Richard Wolfe and tobin smith c. E. O. Of transform anywhere. Thank you so much for your time. Time now for a quick break but hang here because when we return virtual meet up company doom is back in the spotlight and this time in court over claims that the company over 3 that just how thick here the Software Actually is and as we go to break here the number is up at 5. 30 this crisis the question the always been. Jay powell over there its Federal Reserve or other central bankers and flavor reflate or pump up. Quick enough to hurt any downdraft in the stock market i know economically thats got a lot of problems associated with that but thats the big question. In this community there are people who believe that its ok. Its really hard there are no jobs and you see that ive got kids that ask and as a parent. I can come up with lots of arguments and theres a lot of conflict in the game between the teams close to the conflict i would say. And most of them is me. Close one on each of those he knows each other is good because the state of california alone makes 6000000000 dollars you have to prison complex just to get some point in your life where. You dont care and. So you dont care mind anything. The world is driven by dreamers shaped by those. We fear to ask. Here own boom bust weve discussed all the many sectors that have been hit hard by the coronavirus from tack to manufacturing of goods and autos well what about the Food Supply Chain well some say it will not be disrupted spanish farmers and fishermen are feeling some sort of impact from the covert 1000 pandemic well for more we bring in our. Odonovan nick good to see you now i want to start by looking at the overall data in spain we mentioned a little bit its just behind italy as a pretty bad situation in europe tell us more. Thats right sara human in the stats they are devastating nearly 15000. 00 total deaths and almost 150000 infected just in the last 24 hours 757 people died from corona virus in spain and as the pen demick spreads the economic consequences a deepening some studies show the country losing not to 9 percent of its g. D. P. Due to coronavirus and unemployment is rapidly growing spain went into lockdown on march 14th a record 900000 people filed for Unemployment Benefits with those numbers in mind and the Health Care System literally been stretched to the limit. The only piece of good news would be that products are making it to supermarkets and people are being able to find the goods they need or spain doesnt seem to be adding a problem with the supply chain then especially that their shelves are fully stocked including things like toilet paper which is like all here in the United States right. Exactly i received some video footage today from a Family Member in spain that images show completely stocked shelves included yes toilet paper and all sorts of perishables as well such as fruits vegetables and chicken meat fish but that could actually change in the near future as farmers struggle to find the workers to harvest the fields listen spain is especially vulnerable to this crisis for many reasons one of them being that its economy heavily relies on te