Hit next winter at the start of the flu season will the u. S. Have nearly 900000 infections and a total death toll of more than 45000 this comes as white house. Advisor dr Deborah Burks warned americans that to prepare for even more deaths we will continue to see mortality and among our american citizens particularly in the cities as they begin to move past because. Well it turns out the 1st american lives lost a coven 19 came earlier than originally thought will help us officials in california said tissue samples taken during autopsies showed that 2 people tested positive for the virus just weeks before this was at the start of february on tuesday the u. S. Senate approved a new 484. 00 trillion 1000000000. 00 stimulus package for Small Businesses this while President Donald Trump and treasury secretary Steven Menuhin said they would ask some businesses who received relief funds to return them meanwhile the state of missouri is suing china for not doing enough to stop the spread of the outbreak Chinas Foreign Ministry spokesperson game shuang rejected the claim. It is purely malicious vexatious litigation which violates the basic legal principles according to the principle of southern equality in International Law southern actions taken by a chinese governments at all levels in terms of Epidemic Prevention and control are not subject to the jurisdiction of the u. S. Courts when meanwhile the food and Drug Administration authorized the 1st in home test kit for the coven 19 sold by lab corp the test cost 101000 dollars and it is expected to be available to consumers in most states within weeks while mexicos Health Ministry confirmed a jump in the countrys cases to more than 700. 00 now totaling more than 9500. 00 with a death toll of 857. 00 and the country rejected an outright lockdown in a country where half of the population lives in poverty meanwhile sweden a country that did not impose a lockdown amid the outbreak aimed to slow the spread of the virus by allowing exposure to it so essentially they were building herd immunity while protecting the elderly the countrys chief epidemiologist said herd immunity could be reached in stockholm within weeks well india is also looking to attempt this herd immunity on its younger population but for more numbers and information on the coronavirus be sure to check out our portable da t. V. App and look for the section tracking coronavirus. A short term story in the market remains oil or oil remains low as it lead to a dow decline of over 1000. 00 points in just the last 2 sessions but lets bring in much of a trip to discuss kristie we are getting a slight rebound today whats happening with oil. Well the u. S. Oil industry is cutting production by 900000. 00 barrels a day which is the biggest one month decline since the financial crisis and analysts suspect that this might only just be the beginning and that more cuts are needed around the world of storage runs out but after 2 days in steep losses the market stage a turnaround on the back. Oil as a rebounded in light of the cuts the june contract is up about 20 percent today and the company ministration is also considering offering federal stimulus to oil and Gas Producers in exchange for government ownership stakes similar to the deal that they proposed to airlines earlier this year now nothing has been finalized yet as it remains one of the several possible options however this pop seems to be a bit premature as capacity only has about 3 months to go before its filled as demand all faster than production is declining so as reuters reported the hunt is on to find storage dozens of oil tanker vessels have been booked in recent days in order to store crude bring offshore storage to a record high traders are also getting quite creative to renting and storing crude and fuel in an unused rail cars in northeastern u. S. Or new pipelines so at this pace we should expect at the negative prices once again in the near term month especially as we get closer to x. Ray and thats what were saying yesterday that were expected see these negative numbers in the next month or 2 kristie we talked a little bit about the u. S. So on tuesday right the popular e. T. F. That is undergoing some massive restructuring and order to avoid this liquidation whats the latest there. Well you have yes so theyre very popular retail e. T. F. Tugboats said is doomed to fail to mention that yesterday and theyre changing a structure yet again in order to deal with this historic mullah to lety and to keep from blowing up so as the retail traders the inexperienced investors who got burned in this oil trade exit out of the basket us so now trying desperately to retain investors after is pretty much 80 percent growth this year is now i think you doing a one for a reverse share split that will go into effect after close on april 28th now this is by all means entirely cosmetic dressing not really improving any of us fundamental as its trying to avoid additional losses this is really unfortunate because the e. T. F. Was designed to attract the casual investor who really doesnt understand the complexities of the futures market and so as a result it basically suckered in more than 5000000000. 00 in assets from these Retail Investors and basically made a prize all that value in about a week many have now dubbed the retail killer most certainly a very complex issue especially if youre not familiar with it thank you for that explanation kristie but for more we want to bring in a shawn hyman of the logical investor shawn thank you for being with us today were starting to see some High Profile Companies move toward bankruptcy we saw victoria secrets 24 hour fitness at Neiman Marcus at cetera but the real story is really the hundreds of thousands of Small Businesses that are suffering the Restaurant Industry which is largely independent employees employs about 11000000 workers and about a 3rd of arent going to reopen again are we underestimating how severe this downturn will be because even as lockdowns get left and many of these jobs are gone for good. Yeah absolutely some of those jobs wont come back some of the jobs there wont be demand for because the the demand from the customer side will be listening you know restaurants maybe youve got to pull out some tables in your restaurant and maybe only fill half of the capacity that you could before things of that sort some people who could go to restaurants movie theaters whatever maybe they do maybe they dont so theres you know even once you kind of flip the switch and allow the economy to come back its still going to be tepid probably it at 1st to what it should be and some of these jobs wont come back and then theres a spillover effect from those who you know they waltzer their incomes what they would have spent on you know further affects other people in the job losses there so its kind of a domino effect there especially like youre saying if these jobs dont come back i mean 11000000 people thats a lot of workers but seana earnings week continues as we are continuing to get more data points on just how the economy is actually doing we have some big homebuilders reporting today as well as casino giant las vegas fans what are we hearing out what are we hearing out of them. So its been kind of mixed but i would say this this Quarterly Report the problem with it is earlier on in the quarter you know all these Home Builders and casinos you know were do it would doing better and then the coronavirus of course is affected or more in the latter part of the quarter so it is going to be a muddy reporting i think more importantly were Going Forward i think its still going to possibly be worse for them than it was in the past just due to coronavirus and the effects of it so i think all these casino stocks and all the homebuilders still have another leg down to go in their stock prices and i think theyre going to look in there once for a little longer before things really truly get back up speed well as speaking of casinos we know nevada is home las vegas to several casinos reno as well i do want to ask you this nevada mayor wants to reopen businesses sooner rather than later theres talk of steve one who said that they wanted when casinos to open by mid may now we know casinos are filled with germs do you see this happening. It could happen but but even still its like what you know youre probably going to have to unplug every 2 you know one or bandit so to speak you know between so that youve got people staggered in and maybe only open up so many card tables and things like that where youve still got some sort of social distancing around so even then when they you know ramp back up its still going to be to big compared to full swing what they could normally do in regular time so its still going to affect them for a pretty good bit well kristie i want to turn it over to you the markets also getting a little bit of a boost on talks of the stimulus what should we expect there well on wednesday we had the 484000000000 a relief package passed and focused on Small Businesses hospitals and testing now is moving over to the house for approval hopefully by thursday so while this puts about another 350000000000 dollars into the p. P. P. Programs in order to help keep Small Businesses afloat more than 22000000 americans are still filing for unemployment already and as you just mentioned with casinos thats not expected pick up because even if they reopen who do you expect to go attend these casinos most of them are primarily driven by mass market traffic and right now with unemployment so high i mean really just picking up at this point so this stimulus package is basically just a bandaid its a little too little too late and fails to address other immediate problems such as a collapsing state budgets now part 2 of the carrots package is really going to be where the meat is and thats going to be forth hackers that will potentially include more direct payments potentially get extended Unemployment Insurance and now theres also this talk of an infrastructure bill which is the kind of recovery component of the entire relief bill that will be focused on rebuilding and getting jobs back to the people well and thats a huge problem there with Small Businesses who arent seeing a lot of these loans where are President Trump and and treasury secretary minucci now going to be asking these businesses to return those funds so interesting how this is all really playing out now kristie i must cohost and lodge of logical investor thank you both for your time. Thank you thank you. Only days after apple and google announced a landmark agreement to Work Together to create a Contact Tracing app for the corona virus one country is already asking the companies to go further in terms of violating privacy of users well that country france has become the 1st country to call publicly for the tech giants to weaken our privacy protections around digital Contact Tracing this after its government admitted that its current planned when it work without changes to smartphone operating systems or friends of digital minister. Told Bloomberg News that were asking apple to lift the technical hurdle to allow us to develop a sovereign European Health solution that will be tied our Health System well joining us now to discuss is bill this cohost of the fence one than a lot of privacy that weve been talking about lately but lets start with the technical part what specifically is france saying that apple really needs to do here yes so essentially what france is saying is that right now when you use a con trick of the Contact Tracing app that france is trying to use the problem is if you have an i phone and you have that app on and then you switch to Something Else so now you move over to your instagram or you go to facebook or you just turn off the phone all of a sudden the stops running it stops tracing it was subsoil that we knew thats part of apples operating system currently and so what france is saying is hey apple what we need you to do is we need you to change your operating system for us so that this Contact Tracing app and tracking can actually track the user when their phone is off it can track the user when theyre on some other kind of application where theyre not actively using it essentially turning your phone into 247 surveillance that is what france is asking apple to do so lets try if everybody at all times right well randall wants to decoy by may 11th thats just around the corner without using the special measures that apple and google have put in place why is this such a problem for apple and google to just conform to what france is asking and do it. Well a couple of problems number one remember that when apple google announced that they would be doing this the very 1st thing they said about it was they said it would be an opt in program only so if you want this app on your phone when you download it onto your phone if you want to opt in the information then you opt in you are not required to be a part of this what essentially france is saying is dont make it opt in they wanted on every smartphone in france they want everyone to be required to have it if you have an apple or google phone well thats a problem the other problem is is that whatever apple does and google does in one country they have to do it in every country you cant just isolate the phones in one country for your operating system and say this is the french operating system and so you cant just say well were going to go ahead and violate privacy laws that would be a violation in other countries just because france is telling you to do it here lastly whats really interesting about this sarah is that france is the country that keeps wanting to levy higher taxes against apple one against google because they say that those companies are violating user privacy and remember the e. U. Keeps fighting google and facebook for violating user privacy so while the sudden today no no longer think user privacy is important pretty ironic especially like you said theyve been fined not only by france but other members of the European Union as well and still sometimes facing some investigations right i mean google and apple really just who knows how theyll work this out but a little bit ironic here talking about privacy again with them both cohost pence one thank you for that report. Sara things. Time now for a quick break but hang here because when we return well take a look at the state of the Global Economy with professor richard wolf and what a potentially you keep recovering could look like as we go to break here the numbers at the. So what weve got to do is identify the threats that we have its crazy. Let it be an arms race. Dramatic to follow only. Very. Time to sit down and talk. People are really remarking that 2020 is a mirror image of 2008 its the exact same problem banks blew themselves up in are now demanding a bailout at the point of a gun from the fed and other Central Banks and except this time the dislocation in the economy combined with the coronavirus is so great. This. Is a story about. Stray bullets kills young in the streets. What happens to. The mother daughter is. What happens to the community the public was screaming for a scapegoat the Police Needed a scapegoat so why not choose a 19 year old black kid with a criminal record who better than him and what happens in court. Shop smart. Revealed. We dont know this is true because. We. Know churches. Is youll be a reflection of reality. In a world transformed. What will make you feel safe. Isolation or community. Are you going the right way or are you being led. By. What is true whats is faith. In the world corrupted you need to descend. To join us in the depths. Or a maid in the shallows. The coronavirus pandemic has impacted all countries around the world both rich and even developed all the world has been completely disrupted with global shutdowns some countries began to cautiously ease their restrictions with so much information of the one 900. 00 still unknown its nearly impossible to project the Recovery Time when the International Monetary fund predicted that the Global Economy could shrink by 3 percent and that for recovery wont be reached. Until the end of 2021 well joining us now is host of economic update and author of understanding socialism professor Richard Wolffe professor thank you for joining us today lets start with this question what might happen economically if more data shows and comes out that show there is a lower than expected death rate from the chrono virus well frankly at this point the uncertainties in that confused information is so global in scope that i dont think theres any way to answer any of this kind of question there are lots of theories that the virus could come in waves which means we wont be out of the woods friday definitely the time the economic breakdown is now soul complicated in a world that has more on supply chains than weve ever seen before a greater level of indebtedness leading economies that these kinds of predictions theyre really not possible and it isnt all that helpful for people to start doing that because it implies a level of not only and control that i wish we had but im on the street telling you we dont extremely complicated situation as you said professor because a lot still remains unknown but economists are speculating that the u. S. Will likely see a u. Shaped recovery what will that look like in terms of if that if it happens lets just say that it do