This comes as regions across the country allowed for more businesses to reopen and with an increase in Consumer Spending well President Trump wasted no time celebrating the government report and took a victory lap as he said the recent number proves the countrys economy is roaring back todays announcement proves that our economy is roaring back its coming back extremely strong all coming back coming back faster bigger and better than we ever thought possible these are the numbers these are not numbers made up by me these are numbers and as i said you are going to have a fantastic 3rd quarter it will be the 3rd quarter the likes of which nobody has ever seen before in my opinion. And the good thing is the numbers will be coming out just prior to the election so people will be able to see those numbers the 4th quarter like was will be extremely good and maybe most importantly from the standpoint of our country itself next year will be. Stuart year next year is going to be an incredible year for. Companies for growth things are happening like nobody would have thought possible while Many Companies began rehiring in may and june a recent surge in corona virus cases is forcing some states to haul or even reverse plans for reopening now keep in mind there are still 17000000 americans who have lost their jobs and have not yet been rehired well this comes as congress is working on another possible round of stimulus republicans seem to reject the democrats push for 2000. 00 per person a month but even President Trump seems to be open and to support another round of stimulus will the u. S. Officially entered a recession in february for more we are joined by boom bust cohost. And swan christine lets start with the obvious question here the numbers smashed expectations is there something were missing here there seems to be a bit of a disconnect from reality where were seeing more states halt their reopening or even close back down where is this economy going. You know so top pros who lead but i think its way too soon to say that the economy is warring back the thing is the Government Survey this came out in the middle of the month so it doesnt actually account for all the suspensions or rollback youre talking about in the regions hit by this resurgence and coronavirus cases and even though it was a good trend employment is still at 9. 6 percent below its regular in level with job gains and more importantly were talking about wage growth here are slower on average so average Hourly Earnings fell about 1. 2 percent from may and the average workweek also slipped at 34. 5 hours and right now new jobless claims are still pretty high up there with another 1400000 americans filing so right now the industries that have rehired the most are primarily in Leisure HospitalityIndustry Industries that are known for getting shut down right now with the resurgence so while it was a great headline friend that boosted the markets temporarily theres also a lot of i know detail that needs to be pointed out that do not paint such a rosy picture exactly and i think its really important to highlight what you just said that this does not account for the last 2 weeks where weve seen several several states that halt their real openings because of the resurgence of cases then is this market really just responding to the stimulus provided by the Federal Reserve it seems to be reacting more to these headlines like we said we still have 17000000 people unemployed in the country. Yeah absolutely i think because he was spot on there the reality is this is that when we talk about whats happening with wall street you have an entirely different set of principles in effect as compared to whats happening on main street so were talking about the wall street effect absolutely look theres cheap money out there the fed is pumping tons of money into the into the system and as chrystia likes to say im quoting here you know a bad news is good news right so its that kind of mentality on main street however where Small Businesses are operating number one is you both have pointed out these numbers are 2 weeks old but number 2 and this is very important to remember too that even for businesses that are open. At this point the ones that have not been shut down the ones that are reopened are still only able to operate at half capacity youre allowed to have half as many people inside of restaurants in many cases staff is not about 100 percent and so you have reduced hours you have fewer people working and so its going to take time to get back to where youre supposed to be the reality of where we are and you mentioned about going into research a recession in february is that we are in a recession right now and the effects of what happened with the coronavirus lockdowns are not fully being felt yet those will be felt so every month still down the road when Small Business owners havent been able to store up anything and to save up when these programs like p. P. P. Didnt really come through for Business Owners and when workers find themselves still being shortchanged eggs ackley especially because we could be looking at a possible new recession but kristie following the numbers report the u. S. Dollar slid point 2 percent but the dollar also gained against the yen why is that. Also the u. S. Dollar and the japanese yen both of them are defensive currency so both of them were trading actually with a mild positive bias throughout the entire session in asia overnight session prior to the u. S. Jobs report and traders were anticipating and expecting the worst so they shifted into these very defensive positions as we just said it came as an utter surprise completely when it came out better than expected so subsequently these positions were quickly reversed and the u. S. Slumped as the markets then rallied and traders had to reposition into more risk high beta assets in order to lock in and not miss out on this rally as they have been for the last 2 months so right now the dollars appeal as a state haven it kind of diminished as traders now think that it is full risk on as this report at least on the surface supports that insist that a recovery and a balance under way and thats the same story but that yes the dollar and nesters are not warded right now for being cautious and playing defensively in this market it doesnt look like theyre being extra cautious especially because like we said weve been saying time and time again the Federal Reserve just. Popping out more stimulus and they know that they have something to fall on so so really where is the supreme market kristie and then a cohost of the us thanks for being with us i am here because were going to bring you right back for later in the show to talk about cryptocurrency. The pandemic has quite an impact on the economy and veterans are hoping to take advantage of opportunities in real estate are to correspondent we have the details on why some believe parts of the Housing Market may be immune from the uncertainty of crown of virus while the unemployment level has improved since may adding 4800000 jobs in june millions of americans are still without work and some wonder if it will last as restrictions are slowly being implemented once again after a resurgence of kovan 1000. 00 cases in states like california and arizona for many uncertainty remains but according to some economists investors in the u. S. Are looking on the bright side when it comes to real estate with historically low Interest Rates it may be a good time to invest internationally running but may end of real estate trend alert says bind overseas gives an investor a better chance of seeing a greater return during this crisis but main suggest places like mexicos riviera maya colombia and places in europe like italy and as some are not commuting to work this may also impact the markets there has been a trend of people inquiring of real estate in more suburban areas outside of major cities and as for commercial Properties Investors are looking to take advantage of these all time low prices in the United Kingdom home prices are on the decline the most they have been in the past 11 years the nationwide price house index for may revealed a drop of 1. 7 percent from april a reuters poll revealed the cost of real estate in london was expected to drop a whopping 5 percent this year before rising 2 percent next year and 4. 3 percent in 2022. And now hong kong in Mainland China are taking advantage of the cheaper prices in london snatching up as much real estate as they can buyers from this region add up to 15 percent of the International Transactions above 1220000 dollars and 20 percent of real estate priced above 10000000. 00 and a trend happening in Mainland China some real estate firms are looking to list their businesses in hong kong and at the same time investing heavily in places like singapore and bali where tourism has taken a catastrophic hit for some as the pandemic carries on into the summer despite the challenges many investors are looking to pull the trigger on Real Estate Property both domestically and abroad reporting for us natasha suites. For more we are joined by a Mortgage Broker specialist and c. E. O. Of deal b. Mortgage real estate and Risk Management boyd good to see you thanks for being with us today thank you lets start with the u. S. Down despite the coronavirus mortgage demand had been rising this is now the 2nd straight week where were seeing Mortgage Applications fall theyre down one percent from the previous week is this a sign that its now slowing down for the long run i dont think it is slowing down i think people are busy theyre busy with their lives are busy trying to figure out where their jobs are going to take im making sure that they have jobs taking care of their families its not on the top of mind awareness this is the 2nd wave of refinances so they were much busier in march when the rates 1st dropped but a lot of those people have already refinanced now and now were getting to the people that are kind of slow to pull the trigger anyway though refinance it just may take them a little while well and speaking of refinancing it did fall 2 percent but it isnt a 4 percent higher than it was just about a year ago are we going to see Something Like we saw during the 2008 housing bubble crisis. You know the reason that the housing bubble crisis happened is there was a lot of people that shouldnt have loans with those high risk sub prime loans and i lent on them to we all had to but now you know the restrictions changed after 2008 so were not a longer giving loans to people that cant afford to repay them all those subprime loans went away so that people have had to put at least 3 and a half percent down to be on f. H. A. Loans or 5 percent for conventional loans the Credit Scores had to be better so i think were not going to see that again were not in that same situation again are we going to see some of these Interest Rates a once again go go down for real estate. You know i dont know how much lower they can get ive got rates as low as 2. 99 right now on a 30 year in the 15 years or mid tuesday so thats pretty darn low i cant imagine it going lower so a lot of people have been waiting on the sidelines for them to drop i just dont think theyre going to drop much more its almost free money now yeah a lot of people still are still waiting on them to hopefully drop but rent forgiveness and mortgage forbearance programs that they have been set in place due to the pandemic they are set to expire though are we going to start seeing these massive actions are or will they somehow be extended whats going on there. You know a lot of people took advantage of all of that forbearance policies because they thought it was free money and what theyre finding out in it they found out this right after it happened theyre going to have to repay that it was only good for 90 days theyre going to have to make it up really fast and i think a lot of people arent going to be able to do that theres a lot of people that did it because they thought it was a convenience at the time they didnt understand the ramifications of how it was going to work so i think we will see pay backs on all that money and i think a lot of lenders are going to have to move that for barrons payments to the very end of the loans and let those people make it up i dont want to see people get evicted and i think a lot of people took advantage of that forbearance the didnt really need it you know i absolutely especially because it was offered but i want to move her through these to the to the United Kingdom where the country is seeing these figures drop to their lowest rate since 1990 the tosh i mentioned that in the package earlier the bank of england said that the number of new home loans fell by 90 percent of whats going on there. I think people are just nervous they dont know whats going to be happening youre not going to buy your biggest investment of your life if youre not sure that youre going to use of all your money in your Retirement Plan and youre not going to get all fall back on if youre not sure about your job youre not safety with your kids i dont think people are going to dig into their savings to make that investment so theyre just going to sit on the sidelines and wait well lets jump over real quick to the real estate sector in asia lets take a look specifically at hong kong we know thats been struggling there but despite more than a year of unrest new laws from china any of the the pandemic hong kong has seen a jump in home prices jumping nearly 2 percent in just may thats the fastest rise in more than a year theyve had this issue with their real estate for a long time now look at the future hold for asia asias Financial Hub and one of the most expensive Housing Markets in the world. Well you know because of the pandemic a lot of people have lost jobs and i dont play minis extremely high and you going to find more renters now than home buyers so you have a lot of wreaths and a lot of Big Companies coming in from overseas buying an apartment houses condos complexes it should have been for Single Family housing or for Housing Developments and they would be putting renters and there so yes its going to get sold but its going to get sold to different people its not going to be a primary house that you can buy yourself now so the mix is going to change specially as like were seeing china really take advantage of these Interest Rates in a low level in the u. K. And in other countries are we going to start seeing more Foreign Investment. I think were going to start seeing more Foreign Investment because you know investors have a different from frame of mind than you and me do when we go to buy a house its all about already motions investors are very emotionless and so theyre going to let the numbers speak and so if the numbers line up its a very black and white decision its not gray like we want to perfect kitchen in the perfect everything investors dont think like that so yeah they will come in and say and snap up some of the homes that are going to be in forbearance and foreclosure coming up in the u. S. Yeah i think so definitely a numbers game for investor is very different than when you and i are thing Mortgage Brokers specialist and c. E. O. Of the mortgage real estate and Risk Management boyd thank you so much for joining us today. Thank you. Time now for a quick break but stay here because when we return the old industry is a hit as 83 tons of fake gold bars are used to secure billions in loans will tell you what this means for crypto currency as we go to break here the number is at the close. Of. The young we want transparency they want to know where this is headed and theyre very demanding a one night stand that theyre going to get rid of what they dont want rapidly and theyre putting themselves together theyre hoarding very slowly this pandemic is making them be even more careful they will continue to be careful and they may not least a decade i dont know a generation or solid partnerships. Thousands of american men and women choose to serve in the countrys military and the decision a little sheltered lives every song came to a complete. The day that i was right to be instructed here you know told a short while to kill me and i see how destroyed my life any screamed at me and he made me come in and he grabbed my arm and he write me with his birth. If you take into account that women dont report because of the extreme retaliation and its probably somewhere near about half a 1000000 women have now been sexually assaulted in the u. S. Military rape is a very very traumatizing tat happen but ive never seen trauma like ive seen women who are veterans who have suffered military sexual trauma reporting rape is more likely to get the victim punished them the offender and almost 10 year career which i was very invested in and i gave a sex offender who was not even going to justice or put on the registry so. Simply an issue of our in violence male sexual predators for the large part of target whoever is there to prey upon whether thats men or women. It should come as no surprise to anyone who watches the show but cryptocurrency is have received a big boost over the past few months as a coach in 1000 pound demick has hit world economies well in the country of india the crypto industry is experiencing some massive growth in fact a new survey of crypto banks and exchanges shows that the number of sign ups and trading volumes in india have been exploding well this comes as the entire gold industry was rattl