Transcripts For RT Boom Bust 20240712

Have nothing to worry about. Hong kongs National Security law regulates more taps of criminal acts that seriously endanger National Security punish a very small number and protect the vast majority the rights and interests enjoyed by a large number of hong kong residents and foreign institutions and personnel in hong kong in accordance with the law will not be affected in any way after to enforcement of the law the legal system of hong kong will be more complete the social order will be more stable and the Business Environment will improve which is conducive to the prosperity and stability of hong kong but chambers of commerce are warning that businesses could violate the law without even realizing it that includes supporting any nonprofit or profit or charitable work that is deemed to be a violation of the law joining us now to discuss this bus cohosted investigative journalist ben swan and Geoffrey Tucker the editorial director with the American Institute for Economic Research thank you so much for joining us both of you ben i actually want to start with you in terms of what is happening with hong kong what are we seeing from Business Owners and how are they responding to this. Well i think everyones kind of responding to this as if theyre walking on eggshells right you have to be very careful because again that the terminology thats being used quite frankly to describe this National Security law and the things that its putting down secession or anything that violates National Security or creates. A dangerous essentially thought crimes if you will or speech crimes if you will means that you dont really know exactly what constitutes a crime and what doesnt the other thing thats important is that Hong Kong Police are not the ones in force in this its being enforced by beijing so we already see like for instance there are some shop owners in hong kong who there was one in particular who has a Clothing Store he had a statue with centrally set up inside of a protester to kind of recognizing the protesters who have been pushing back against the government there and calling for government reform immediately taking that image down in his store as soon as this law was passed on. Tuesday because he knew that if that happened he could face penalties for it so essentially its a totalitarian approach to say if you Say Something that the Chinese Government deans is being a National Security threat we can find you we can confiscate property we can essentially take away the funds that you make as a business it is a chilling atmosphere i think for merchants working and Business Owners working in hong kong now jeffrey how do you actually see this i mean i mean the law is is could force certain businesses especially western businesses to avoid hong kong will this law and hong kongs dominance as asias Main Financial hub because officials there are saying its going to be good for the economy. You know i dont i dont know for sure that its going to be good for the economy the problem is under the china model you have supposed to be able to have political totalitarianism and free markets but weve not actually seen that work in china and and i dont think its going to work in hong kong either i think this is a grave threat actually to hong kongs future and the real tragedy to me is that the u. S. Has given up all leverage over the situation by escalating. The problems of china like our relationship is terrible and chinas use in the annoyance and anger at the u. S. To move the n. On hong kong and actually threatens you know this beautiful place thats been striving for so long and actually i think its an existential threat to hong kong and to the businesses that are operating there you know jeffrey i actually want to clarify what youre saying there so youre saying that because we have these tensions may be over why are way over a trade deal over economic situations where the china that that actually reduces the u. S. Is ability to actually weigh in on this situation to be taken seriously look i think in many ways the blame for whats happened in hong kong right now is really should be addressed in par with the washington d. C. I mean for 4 years now its been one attack after another has been tariffs weve been been driving this wedge between us and china and thats made china annoyed and and its broken down our influence the collegiality the character has of the relationship between us and china 10 years ago has as led to these increasing hostilities and made chinas government a little bit paranoid about anything that seems to be pro western so were actually reverting back to a kind of a and or you call it a like in 1000 forties or fifties model and you know the attacks the attacks on what about huawei have been completely outrageous and free sad to me because the u. S. Has failed to back the movement of private enterprise and china rather has punished. For a attempting to adopt a western style Free Enterprise or enterprise model and i think its been a disaster yes i do think that the washing d. C. In the in the trumpet administration particularly bears some blame for have an escalated the tensions just systematic a month after month after month for years now and this is where you see now the u. S. Has absolutely no end but i want to move on to kind of another aspect of this were seeing social Media Companies responding to the law facebook microsoft Google Twitter and zoom of all announced that they have suspended products the processing of requests for user data from the hong kong authorities while they study the new law now meanwhile chinese after tech talk says it will stop operations in hong kong as well what do we need to know about this situation with all these social media sites yeah i think its kind of funny that facebook and twitter are acting as if they are putting some brakes on what the chinese are doing essentially facebook and twitter about to get kicked out of china completely and theyre trying to exist in hong kong whats happening there with the tick tock its really interesting because tick tock obviously its the Fastest Growing chinese app ever growing at an enormously fast rate we just saw a band in india but whats happening in specifically in hong kong is that talk is no longer going to be available as we know it as to talk in hong kong but the company that owns take taught by dance actually has an identical version of tic toc that is strictly for chinese and its not an English Version that is what exists currently on the chinese mainland so that service is now available in hong kong so essentially what dance is doing is theyre treating hong kong like the way they treat the rest of the chinese mainland in terms of lack of access to those western influences and very quickly i think jeffrey is exactly right in that china while it seemed like it was opening up more to western influence over the past couple of decades now seems to be in rapid form closing ranks and moving away from that and this example of social media i think is a good exam. Apple of that you know jeffrey i want to get 2 to one more here speaking of tech talk secretary of state mike pompei oh so that the u. S. Is looking at banning ticktock and other chinese apps is this something that you believe could happen at the Top Administration continue this battle with china that you actually just mentioned. You know the next you know the corona thing came along we were banning science from europe of cracking down with the lockdowns and and the crazy thing is that now the idea that were going to have extreme protectionism about the single most popular app among all the under 25 year olds is is unbelievable its inconceivable and also get away with it maybe it will attempt ministration seems to know believe theres no limits what they can do but when if youre looking for a Silver Lining to this its a way to recruit the entire young generation into a pro free trade. But i think the panic thats kind. Of going to. Settle in on all 20 is under 25 year olds its just inconsiderate to go out in the streets. Jeffrey tucker and ben swan thank you both so much for taking the lead and great a little levity to the situation as well thanks so much. The u. S. Treasury department on monday released the names of more than 650000. 00 companies received p. P. P. Loans as part of the 520000000000. 00 program intended to prop up the economy as stay at home order shuttered businesses throughout the country now this is just a fraction of recipients of the loan as the government only identified those who were approved 4150000 or more now according to the data while most of the loan seem on the up and up some of the companies and industries that received loans raise some questions nearly 600 Asset Management and private equity firms which allowed most of their employees to work from home received loans from the program while rapper Kanye West Yeezy brands which produces clothing and high dollar sneakers also received a loan of between 2. 00 and 5000000000. 00 and the list of head scratchers really goes on and on including large chain restaurants like p. F. Changs and t. G. I. Fridays billionaire West Virginia and Virginia Governor jim justices Family Business that work in the coal industry the girl scouts political advocacy groups and even modernist sculptor jeff koons so lets go ahead and take a look at the distribution of p. P. P. Loans and how markets fared on tuesday with our friend tobin smith c. E. O. Of Transformative Research tobin thanks for being here today. Good to be with you now what do you make of this data released by the Treasury Department is this a misuse of the program when we see sculptors and restaurants with hundreds of locations receiving money or is this just business taking advantage of opportunity afforded to them and really being creative with paperwork. Well i think if you go back to the beginning of this is that ive to my knowledge weve never had a type of grant that went to a business and said if you. Began with 80 percent of this money goes to paying salaries that you can will forgive this loan now they didnt say who couldnt do it number one number 2 i mean i hear people are moaning about sidwell friends up in washington d. C. Oh thats a leftwing school or by. Washington these private schools getting the money theyre big employers number one number 2 they employ you know the number of employees they have then you know by dry cleaning and by fast food now theres a Ripple Effect here so i dont think it makes economic sense to go after a Large Company or a private Equity Company for that matter and say hey wait a minute you know youre a big moneybags guy this money is all supposed to go to small guys on the other side of it those same 660000 above 150. 00 grand that was 3 out of 4. 00 that was put out so if the goal was explicitly to keep it to true true Small Business then we totally failed by the way i want to clarify that its to between i apologize let me look at the number here to kanye west received millions not billions of dollars just i had a good idea ill give you a call right now i do apologize to get him on the line but the but the point here is toby into what youre saying is so is that a messaging issue with the whole situation because more so they said these were Small Business loans but now theyre going to these giant firms when that really wasnt what it was it was just a messaging issue. Right now and they stood they then follow up with this main Street Lending which is a Different Program theres also Emergency Group credit scuse me emergency condition grants which are like 10000. 00 of free money i mean the goal was and it was accomplishes that we had to push in fill it this giant hole that have been created sink hole in the gut in the economy otherwise those Ripple Effects would just turn into a tsunami of facts so it has accomplished that but like anything else if you throw something together quickly and you have to get people in congress and senate to vote for it quickly theyre going to do act 1st and theyre going to figure out later i think when we get to the next to the list and it is coming certainly by the end of july theres going to be at a lower number is Mitch Mcconnell kamel said lets really get it to the under 45000. 00 your households because theyre the ones who are actually going to be thrown out on their arses if they cant pay rent and i dont think having a nation of 6 to 10000000 new Homeless People many with children is is what the greatest country in the richest country in the world wants to see happen but i want to hit one other point here quick before we go markets fell today after a pretty good run over the last week citigroup analysts said monday they didnt expect markets to be much higher from their current levels at this Time Next Year and youve said were trading on 2021 were trading on 2022 has your outlook changed at all. No it hasnt been were sort of co bit on ko bit off days right but the market his is now pricing in the fact the good old america will not go back into this lockdown mode youre never going to see that again its not politically palatable at this point so if that then were going to have higher rates and were just going to have to live with that because because the alternative is too painful for all involved and thats what really i think the markets are voting on and so you look at any time you have a market go up a strange is it has now youve got to have days to cool off otherwise that thing really blows up with c. E. O. Of Transformative Research always appreciate you coming in and break it all down for us. Thank you brother. Time now for a quick break by here because when we return brazils president has tested positive for the coronavirus as the nation has surged to become one of the new epicenters of covert 19 we take a look around the globe check on the spread of the virus as we go to break here the numbers of the quote. Time after time repeat the same mantra sustainability its very important. Transitions to sustainable price board sustainability. A more equitable and sustainable well. They claim their production is completely hamas. Companies want us to feel good about buying their products while the damage is being done far away and this is Something Else just. To do. So when. The world is driven by a dream shaped by those great. Thinks. We dare to ask. Israel media a reflection of reality. In a world transformed. What will make you feel safe. Isolation full community. Are you going the right way or are you being led so. Direct. What is true wants is faith. In the world corrupted you need to descend. To join us in the depths. Aura maybe in the shallowness. Some rumors isuzu. Search is going to be. The. Number you. Remember the just came up with if it didnt feel that oh. Antarctica is a very International Community i. Mean you strain to try to cling. To this to keep it as the. Need to eat. Those who pushed them at the will to use the newkirk of brazil so their Nuclear Cooperation in antarctica is everything produced polluted with it if one comes to do with the above the. Flood they have that would affect all day but i decided not to take this life. With my good to you that. And welcome back new york regulators have Deutsche Bank in their crosshairs due to the banks relationship with Jeffrey Epstein r. T. Correspondent john but he is following the story. Joyce of bank agreeing to pay the state of new york a 150000000. 00 fine for sketchy Financial Transactions related to Jeffrey Epstein new York State Department of Financial Services superintendent Linda Lacewell saying in a statement quote Deutsche Bank failed to adequately monitor the activity of customers that the bank itself deemed to be high risk in the case of Geoffrey Epstein in particular despite knowing mr epsteins terrible criminal history the bank inexcusably fail to detect or prevent millions of dollars of suspicious transactions lacewell said the bank processed hundreds of transactions totaling millions of dollars at the very least should have prompted additional scrutiny in light of epsteins history including payments to individuals publicly alleged to have been abstains coconspirators in sexually abusing young women settlement payments and more than 7000000. 00 and Legal Expenses of epstein and his coconspirators of more than 6000000. 00 payments to russian models hotel and rent expenses and consistent with public allegations of prior wrongdoing payments directly to numerous women with Eastern European surnames along with all that suspicious cash withdrawals more than 800000. 00 over 4 years Deutsche Bank had a financial relationship with abstaining from 2013 to 2018 and according to this Consent Order to assure bank was aware of suspicious cash activity throughout the relationship and the bank continued to maintain the relations. Ship for years despite additional red flags the bank cut ties with that scene in 2018 after the miami herald published its investigative series about epstein sordid history and questionable prosecution under the contentious 2008 plea deal the statement doesnt name any event scenes coconspirators f. B. I. Agents and n. Y. P. D. Detectives arrested gilling maxwell in New Hampshire july 2nd on charges of sex trafficking minors and perjury shes long been accused of helping to recruit and abuse the young women and girls epstein allegedly abused for many years some of them as young as 14 years of age maxwell is currently locked up at the metropolitan Detention Center in brooklyn on 24 hour suicide watch one of the Big Questions what incriminating evidence to she potentially have on epsteins rich and powerful friends who have also been accused of being involved with his nefarious behavior federal authorities are intent on keeping maxwell alive to answer that question and many others on like they are able to do with that scene for boom bust john harvey and brazils president gyre ball so naro on tuesday announced he had tested positive for kobe 19 the brazilian president has faced criticism for downplaying the situation regarding the virus in his country for months and continue to do so and speaking about his diagnosis on brazilian t. V. Everybody knew that sooner or later code 19 will reach an important part of the population a lot of people like me for example if i would not have done the test i would not know about the result that was positive. And lets take a nother look at the spread of the virus with our 2 correspondents are a tablet or so i worry worldwide so brendas where we are right now global cases there is more than 11800000 confirmed cases global deaths at least 543000 in the us there is more than 30000000 confirmed gay says while at depths theres more than 133000 and i want to start with latin america thats again seeing a huge surge in cases and brazil right now is only 2nd to the u. S. And number of infections and thats where more than 66000 people have died of the virus in brazil and almost 1640000 cases have been confirmed so far 21000 just in the last 24 hours and it doesnt help when president also narratives encouraging the country to reopen even as the number of cases are going up and brand while the president can afford the best health care in brazil to treat him its the countrys poorest that are struggling to access proper medical care and because brazil has a deep inequality and depend demick has had poor communities the hardest for most people even like Running Water and are cramped in housing so isolation has been impossible for many residents who work doing things like cleaning homes or are delivering food and i want to go over a peruse the has just jumped past 305000 come from cases the 5th highest in the world and peru with a population of 33000000 people had a countrywide lockdown back in march but really struggle to enforce a nationwide quarantine. Because many of its citizens were facing just too much of an Economic Hardship to stay at home so were seeing the numbers going up now now moving over to chill a which was very slow to implement lockdown measures and granted a large number of exceptions for session essential workers back in early may and now is the 6th country with the highest number of cases in the world with over 300000 cases and mexico thats now 5th in the numbers of deaths globally with 31000 deaths and over 261 confirmed cases and you know get this residents of the town of solenoid which is a very popular seaside resort in mexico and a short drive from arizona are now blocking the main road leading cells from the u. S. Border or are fears are people from the u. S. Traveling to mexico could bring the virus with them from brazil now lastly i also want to mention colombia where cases are over 120000 deaths and deaths and deaths are surging along caribbean coast as the region mccombs that pick center depend demick with doctors warning that many more deaths are actually going on reported brant. What about in the u. S. What are we seeing here as far as the trends so once again 3 states arizona texas and florida keep showing up as hot spots now arizona has reported 117 deaths just in the last 24 hours with over 102000 cases and arizona has also been setting record high daily deaths counts about once a week while also reporting the lowest ever number of ice you bet vailable on tuesday and then moving over to texas. Where more than 9000. 00 new cases were announced across texas the largest single day total for the pandemic bringing the cases to over 210000 meanwhile texas Just Announced a public face mass order which is a complete reversal by the governor who earlier downplayed the severity of the outbreak in his state and finally florida you know which initially avoided the worst of the pandemic in its 1st few months now has the 3rd highest number of corn and ice cases in the us 206000 and counting and brant despite all of this floridas education commissioner issued an emergency order on monday mandating that all schools open for the paula for the fall and order appears to follow president trumps wishes where he tweeted schools must open in the fall. Correspondence are tabular thank you for keeping us up to date cheers in indias Largest Company Reliance Industries hit a new record high monday afternoon following the companys telecommunication arms geo releasing its new meeting app for the general public geo meets release comes as web conferencing apps have taken off amid the pandemic with zoo Microsoft Teams and a host of others seeing huge traffic as face to face interaction just isnt possible with me users can hold a meeting of up to 100 participants and if you cant get enough of online Conference Call their website states mexico for 24 hours reliance geo recently received huge investments from social media giant facebook as well as intel corp and thats it for this time to catch boom bust on demand for a new portable t. V. Epic which is available on geo platforms as well as smartphone through google play and the Apple App Store by searching portable t. V. Or but you can also download it on newer models of Samsung Smart t. V. s as well as roku devices or simply go to portable t. V. See you next time. We go to work so you straight home. To rest in charge of the lame ass well the jury and the saga takes a new turn what about the timing and the specific indictments what kind of defense can be expended is a deal in the cards and each justice be served. And their songs i also. Heard her. Husband will take interest for doing. This goes a long way to Cerberus Team youre. Not desires youre not going to. Be transporting mrs jones over inflation and in america when these are suspected that means that. She loved this person for 44 years. In minutes sure if you guys she you and rosa cannot measure which. We made it was easy. She told her the drugs to be. Really a man when you are going to. Get out though i think you know most black thing is my look others are getting me out and i am. Meeting they say and i love new orleans i am. On the n. B. C. On months i will be someones. Home you know im going to. Be like this i dont. When i was told some seemed wrong when all the worlds just all. The worlds going to get to shape our disdain you cant get educated and in detroit because betrayal. When so many find themselves worlds apart we choose to look for common ground. Welcoming viewers from around the world live from Central London this is our 2 u. K. Spend spend spend the chancellor announces his summer statement aimed at protecting jobs and kick starting britains economy but the opposition says we were promised a new deal but got a meal deal well hear from an economics exposure. Special covert envoy for europe warns of big outbreaks of seems like those which is in london over the weekend continued he told his people should be wearing face coverings more and the pandemic is far from over. Im coming to terms with the reality of good news is here to stay and i dont think its going to go away any child through the show body announces the e. U. Will instate border checks at the end of the transition period since as the British Government employs to create checkpoints nor the knowledge ports despite promising on the lines of ill be speaking to a former member of the council of states. Also the britain is to resume on so saudi arabia despite claims that weapons have killed many civilians in the war and yet we hear from a campaigner. The chancellor has released his long awaited summer statement with an emergency mini project to help the british economy recover from the Coronavirus Crisis among the measures is a 1000 pound bonus for businesses that retain their furloughed staff through to january once the scheme ends in november a youth job creation scheme will pay businesses over 6000. 00 pounds to create new jobs for 16 to 24 year olds 2000000000. 00 pounds in grants will be made available to make homes more efficient with a further 1000000000 to retrofit public buildings. The Housing Market will be stimulated with a temporary cut to stamp duty until march the 31st with average savings of 4 half 1000 for property borrows the troubled hospitality sector will be boosted by slashing v. O. T. From 20 percent to 5 percent for 6 months as well as a 10 Percent Discount for all to spend in restaurants from monday to wednesday with the british publics insurance throughout the crisis would help fuel the countrys economic revival. We will not be defined by this crisis but boy i will respond to it it is an ambiguous choice to make this moment meaningful for our country in a way that transcends the frustration and loss of recent months it is a plan to turn our National Recovery into millions of stories of personal renewal but is the goal of the bones britain back from the brink to to his resume of the reaction. It was done she joins me in the studio so shadi how is this initiative being received well absolutely the centerpiece really is the jobs retention scheme worth up to 9000000000 pounds and its really been welcomed by Business Leaders up and down the country so as you mentioned thats 1000 pounds for every employer employee thats brought back by the employer till january now its to try and really mitigate the job losses as the furthest game comes to an end in october which is to not being very clear that it will and must and at the end of october but still many employees up and down the country are not quite happy because remember from this month theyll have to contribute 10 percent of their staff salaries next week it goes up to 15 percent and then the month after that in october up to 24 percent so really well they want to take over all of the salaries Going Forward is it worth that just in order to get that bonus at the end of january thats a real concern to Many Employers and employees will it be too little its not enough to hold on to them till january when it is something that they might think its not worth it and then theyll lay them off instead now she sent resisted accent a very clear message to the employers saying if you help your workers we will help you in some ways that really does put the ball back into the employers court for them it will really depend on whether their businesses have the demand now the shadow chancellor and early starts shes claiming that she did not did not go far enough and simply claims that there really should have been a back to work project instead. It should have been the day when the millions of british people worried about their jobs and their future prospects how deluded taken off their shoulders as should have been when we got the u. K. Economy firing again today britain should have a back to work budget but in states weve got this summer statement with many of the big decision use. Until later the benches opposite knew full well well another big announcement from the chance of today was the out to help out discount now think of it really like an Early Bird Special remedial deal thats applied from monday to wednesday to try and incentivize people to get back out and spend their money it means are being given 50 percent off up to 10 pounds of their final bill per person as i say to try and get people back into the pubs bars and restaurants but it also really of relies on Consumer Confidence that something that the shadow chancellor and of these dogs also have raised he said whats happening to the governments test and Trace Program because of course that comes hand in hand with Consumer Confidence as well now we were really hoping to get reaction from the o. B. On the office of budget responsibility they are the ones that assess the impacts of the u. K. s finances they say that they havent been given a brief of the chance a Statement Today and so they will only be able to react react as of next week but already weve heard from the institute of fiscal studies who actually say that this is quite a good step in the right direction because 49000000000 pounds nearly 50000000000 pounds will be injected into Public Services thats new funding to the n. H. S. Schools transport and rough sleepers as well so a huge boost to the economy and actually 30000000000 pounds more than the o. B. Are hard to support it so all in all for the chance that today he really did put in place measures that are quite similar to any other recession recovery but of course this isnt. Just any normal recession recovery because of the huge Health Element to this crisis and really if we do see a 2nd wave of the coronavirus well the government have the brakes on the economy if that doesnt happen. Here thank you very much indeed for that so well for more on this im joined by Economics Expert professor get out jones there to see if and now some big commitments made here but is it just short term gain over the long game of economic recovery the difficulty that weve got here is that its a recession that is borne of problems that weve got on the supply side of the economy its not a demand side action such as the one that we had 12 years ago with a great financial crash. And the difficulty here is that theres a lot of production that was taking place that is no longer taking place and thats whats causing the constraints that weve got on the economy so if you look for example at hospitality the difficulty is that restaurants cant open to full capacity because we need to social distance so it stimulates in demand in that context is not going to have the same effect as it would during an ordinary recession because it may be that the restaurants are already working to capacity the reduced capacity that they have with these social distancing constraints so its a very difficult recession to get out of because its not a normal standard recession the supply side is what needs working on but what about the fact that a lot of elements are employers though and homebuyers you mentioned obviously maybe possible benefits of hospitality but actually not as it would appear to be on paper maybe not filtering through for a long time but there are large portions all of the economy old left out. Well you know im certainly the the skin is going to be wound down at the end of october and is going to be replaced by this Job Retention skiing and theres an incentive there a strong incentive for employers to keep homework because up until the end of january where hopefully the rick coverage should be starting at that point and so that want to keep them beyond that point in time so thats the 1000. 00 pound incentive for employers strong but it does imply a large amount of deadweight spending on the part of the government its going to be an expensive policy in that employers are going to be rewarded with keeping hold of people they would have been keeping hold of anyway so its quite an expensive policy difficult to see what the alternative would be some of the other policies youve got there the reduction in stamp duty there is the feeling that the Housing Market may need some support particularly because prices fell according to the nationwide survey 3 percent we know april and june and maybe some of the support has been a reduction in the 8 c. The hospitality and for entertainment and so on down to 5 percent for a limited period of 6 more. Months this kind of thing was trying to you know 9 not terribly successfully but clearly the Hospitality Industry does need a bit of support that it can get its just very briefly a reaction to what the opposition is saying is that the government is delaying Big Decisions to little time but weve just been talking about huge raft of measures surely they will make some sort of impact and do you agree that there is something major missing here but the opposition is what about. I missed the beginning request bill but certainly were got a package here that tries to tackle various parts of the economy thats something for industry in general in general through the job pretensions in there is something particularly for young people through the provision for training weve got to be mindful here that theres been relatively low take up of apprentices over the last 3 years or so and the government is trying to incentivize further firms to go into training through the employment of apprentices it is going to be important to be able to move people from one sphere to see into another sort of training and retraining is going to be important as we restructure the economy in the wake of covert 19 back to talk to professor jones thank you. Over 200000 of britains self employed continuing to be left out of government Financial Support anyone in the selfemployed category who had trading profits of 50000 pounds or more in the last 3 years is not eligible for Government Support however those who are employed and in a similar financial situation earning over 50000. 00 pounds a year are eligible for up to 2 and a half 1000 per month on furlough in addition any one where they were 16000 pounds in savings has been left out of Financial Aid as well well for more on all of this joined by the Spokes Person for excluded u. K. Now thats a collective platform for those left out of the governments financial help schemes. Well british unemployment levels could hit those seen during the worst years of the Great Depression should a 2nd wave of coronavirus emerge thats according to figures released by the e. C. D. Which predict the Unemployment Rate could surged almost 15 percent by the end of the year if another coronavirus wave strikes the o. E. C. D. Says that the u. K. Has already projected to experience an Unemployment Rate of over 11 percent it will make britains unemployment level higher than that reached during the peak of the economic crash back in 2008. To discuss the Economic Impact of the Global Pandemic expert an International Economics and finance at City University professor keith bill beam is joining us live now keith what kind of a reality are all british workers looking at now. Well its not a very good reality because of course at the moment a lot of them are on the 1st and Something Like 1300000 people and most estimates suggest that about 20 percent of them maybe more will lose their jobs so that some of the 2000000 people are going to lose their jobs that pretty soon as well you know by march this Time Next Year. They will be looking at you know nearly treat 1000000 people all across the impact of that key for a lost generation and if it. Well it would be a lost generation if you do south of the United States you see its the youngsters that the suffering the most we know that theyre more likely to be more likely to be made out employed by substantial amounts compared to the older population so we really need to focus on the young people because you need to get them into a book because you know because ive got my own lives on them thats kind of our if a 63 year old becomes obvious grow it what about being current for the British Population to really spend now the council on finding measures like cough price meals and fancy would options just how much of a difference is going to make it stop going to make any room difference look what people are facing job losses theyve got a sight that money its as simple as that and theres a lot of uncertainty you would have done that when you got to be i got it right so consumers got to face quite tough times and then so of course nobody said it wont go up they wont get their way draws inflation will go up no doubt after all this printing of money eventually so theres going to be a forward we whiteys as well so the idea you can just have the government can just pick up on the end of the program to go why is nonsensical will we see a major impact of course if there is a possible 2nd wave making it to the u. K. And of course impacting the economy just just how bad could the scenario really become if that does happen well things could get substantially worse because mostly because i look at that i mean from 11 percent maybe look at the map if you had a 2nd life some people are predicting 15 percent and worse and the trouble is he said United States it seems to be ramping know that the coronavirus is not under control so become really open to the u. S. Economy you know they have told us and everything so so until other countries get it under control were still going to be heavily affected even if we manage to get it under control thats a key feeling thank you for being with us. Health experts are warning that the u. K. Will be hit with a big help breaks of coronavirus if scenes of trials like those witnessed at the weekend in soho in Central London reoccur the World Health Organizations covert 19 special envoy for europe has stressed that young people should be wary while they themselves may not become severely ill they could pass on the virus and kill others but to David Nabarro told us that in some situations 2 meters may not even be enough the reason why weve been talking about physical distance saying is because this is the key to preventing transmission and there are 3 parts to it one is maintaining the piece of good distance true is wearing face protection look tired is maintaining very careful hygiene and services and the like and yes it people are not practicing these forms of behavior then there is a risk of recurrence we dont call it 2nd why because the virus is all around us anyway but it can come back and we can get recrudescence or recurrence very easily if people dont practice the piece of good distancing and praise protection and 9 jeanne what do you make of the British Governments messaging during the lifting of the lockdown. Well one of the difficulties about being in government is that you have to be able to talk to every single interest who wants to be heard and wants to be understood so in government youve got to talk to the owners of businesses youve got to talk to people running schools got to talk to people look up to big Office Buildings people looking up to security in public transport and i think thats why getting a consistent message is often difficult im in a fortunate position of being a Public Health person and ive given you the absolute core of the guidance that we like to give i would like to say to all governments i think it is helpful if you explain to people all good time that what youre trying to do is to help them be depended against this virus because the virus isnt going to go away and that i think if it were understood and appreciated by everybody would lead to a much greater appreciation of why we want the behavior changes that we call for can we have some clarity on the use of face masks from the good quality face coverings that really do filter out all particles essential part of protecting Health Workers and others whose jobs have become in frequent contact with people who have the virus but others really ought to be wearing face coverings expression of dead cant maintain physical distance saying and the w. H. O. Now its seeing these increased numbers of people who are getting infected all over the world is saying because of the possibilities of a symptomatic go pretty symptomatic spread we need to be a little bit more open about the desirability of price protections but doubly right joe cannot order people to wear price protection only governments can do that but i think. All of us are saying if it is recognized that this is a major problem please were more and more people where price protection is especially in situations our public transport or where close contact is inevitable just finally i know this is a difficult question but when can we expect this to be all over a lot for me its not a difficult question because ive come to terms with the reality that this virus is here to stay just like 203530 years ago this new virus called h r i became a long causing aids and its here to stay so cope it is here to stay i dont think its going to go away any time soon and so thats why im suggesting to everybody as the human race we have to learn to live with this virus and get on with our lives despite the fact that its really dangerous and unpleasant and i believe we will be able to do so for the more dr nabarro clarify the w. H. O. His position on whether to have a 1000. 00 can spread through airborne transmission in a zation is recently recognize that theres emerging evidence of this and the number of claim the damage has always a good knowledge the possibility. Weve always tried to encourage people to understand the primary mode of transmission of this virus and i want to stress that that is still. Believed to be true droplets droplets are small drops of saliva and or a spirit tree secretions and usually theyre not protected further than about a meter and really if you are 2 meters your clear of them now if you get some very very small particles that are light enough to be picked up by the air then they can go further than 2 meters and the issue that many scientists have been bringing to the w. H. O. Recently is asking the w. H. O. Told knowledge that you can have small particles that are airborne and yes the w. H. O. Has actually a good knowledge that its knowledge that all along but it continues to say that this airborne transmission is less common. Mornings after a short break. Is youll be via reflection of reality. In a world transformed. What will make you feel safe. Isolation for community. Are you going the right way or are you being led. To direct. What is true what is faith. In the world corrupted you need to descend. To join us in the depths. Or a made in the shallowness. The world is driven by shaped by. The dares thinks. We dare to ask. The head of the used task force for relations with the u. K. Michel barnier has announced that the European Union will impose full checks of the border on january 1st despite britain promising to implement them 6 months or later he said the e. U. Does not want to delay things meaning checks will begin immediately when the transition period ends it also said that british products will be checked at the border irrespective of whether an agreement is reached between the 2 sides and that the block is prepared for the u. K. To leave both the Customs Union and the Single Market promise of Boris Johnson has reiterated britain would not need an extension to the transition period where mali British Government asked the e. U. To introduce formal checkpoints supports in Northern Ireland known as Border Control pose theyll be used to inspect both livestock and food going into the Single Market despite Boris Johnson promising no such checks would be needed after the end of the transmission period it has been agreed that will the man and will remain part of the Trading Union with the rest of the u. K. Show jewel to leave it well discuss this further mull drawn by a former member of his council of state professor did 3 he even did 3 Boris Johnson is then gone back on his word. Its not surprising at this isnt an issue of concern here and since the credit cards published the experts looked out and said there might have to be additional checks. Checks and there would have to be additional people or they could see anywhere despite is bars jobs continually we estimated that there would not be additional work he was categorical that there would not be additional checks indeed he into Northern Ireland and give us patients and then in britain were asked to fill an additional shift or didnt bend and right now this really. Caused a higher dose of protests from Business People here saying look this doesnt make much sense it isnt helpful and really the issue as far as 1st of all clearly big to suggest to us but secondly for the businesses operating year and for businesses to be the one to operate in Northern Ireland to have markets is not an island the key issue here is a lack of information and what changes will happen and when will they happen a lot of the implications of those changes because what impact does this have on businesses then in northern and. Well for example businesses and you have want to bring their goods across the arab states and i think that they will have to fill in additional paperwork it looks like there will be 3 layers of paperwork we know that additional work means additional charges so the issue then is will those 2 it actually start saying actually this is where the right to ignore the night and we will look to other markets we will start to move our presence as i took more than ireland and weve already had the sessions of basic of markets the test goes the houses saying well perhaps they would have to look at the northern route of business and see if they still have are so that the major issues might they move away from northern out altogether and the difficulty again is when these changes happen if those businesses know what the teams are willing. Able to make had for the consumer a northerner the issue there is we may be for reduced choice because critics will say they dont want to come here anymore if parsons are going to come here will they incur additional costs so we have reduced choice and had to play just we would have increased charges if theres going to be increased your work just finally briefly for the mind if it does the reading between the lines seems likely then that the e. U. Is ready to leave at the end of the transition period it does that at that and it looks like it we were told there will be a border in the area and of course that is there was wider political ramifications here where they. Were assured that there wouldnt be a border in the area and of course their fear will be that everybody move to an economic integration process and does that mean and inhabitable political integration was there and and do we. Have to or. Professor did here and thank you for joining us live here not u. K. And discusses in more detail about your brush in fame m. P. Chris hazard thatll be a live in just under an hour from now here on. Britain as announcer is resuming arms exports to saudi arabia despite admitting theyre sometimes used in war crimes in yemen campaigner against arms sales andrew smith says that the best way to make sure you can weapons are no longer used against civilians is to stop the sales. The arms industry is actually very small part of the economy that can survive as he took point 2 percent jobs but the damage which it does internationally is beyond calculation as were seeing in yemen where the worlds worst humanitarian crisis has been inflicted and you can meet fighter jets u. K. Made bombs new commit missiles which essential rule in struction where weapons are being exported theyre being used and were seeing the u. K. Made weapons being used in repression against prodemocracy campaigners in hong kong weve seen u. K. Made weapons used and atrocities in p. C. s her own best way to make sure that you keep weapons are no longer used in peace or peace is to stop the sales and thats if im ever more news than half an hour. Time after time called her ration to repeat the same mantra sustainability very important to excel or transition to sustainable transport sustainability stay in her manner the more equitable and sustainable. They claim their production is completely hamas. The big. Companies want us to feel good about buying their products while the damage is being done far away this is Something Else this must be done to anyone and i mean look. This is the mood stimulus and we didnt do nieminen and stunting then we understood superman and. Time after times are we going underground is the u. K. Chancellor the next Goldman Sachs employee refused or not going down says what some are calling a mini budget outlining his plan for economic recovery after borrowing record billions during the coronavirus pandemic leaving the u. K. With a debt as to make it to be larger than its entire economy let alone debt is britain as a Global Player economically over rigid a. V. N. Ates the economic superpower of the 21st century china we speak chinas ambassador who threatens britain with consequences of all an experiment needed then shopping for the translator and director of the china nationalism. A regional studies its a gal about a continuing arguable British Imperial hangover and after considering black eyes mad as protests around the world the new accusations of Scotland Yard targeting an english commonwealth gold medalists family because of their color are we witnessing a major spring not unlike the 2011 arab spring we speak to one of the u. K. Government scientific advisors about revolutionary desires set ablaze by coronavirus although some more coming up in todays going underground but 1st what is darker in the west will become brighter in the east the words of chinas ambassador to the u. K. As he threatened london for what china perceives as imperial meddling in its country along with nature a nation mandate