Fight against this disease in furtherance of the order emerging every state to set up Emergency Operation centers Effective Immediately a National Emergency 2 words indeed now meanwhile the World Health Organization think all Health Workers around the world and announced europe is now at the epicenter of the coven 1000 pandemic more than 132000 cases of call did 19 have now been reported. From 123 countries and. 5000 people have lost their lives a tragic milestone. Europe has now become the epicenter of the pandemic wheezes more reported cases and there is than the rest of the world combined apart from china more cases out of now being reported every day than were reported in china at the highest of its epidemic. This comes as Top Health Official for the combine ministration dr anthony foushee said the disruptions from the corona virus could be prolonged and last up to 8 weeks adding its going to get worse before it gets better the death toll in europe continues to rise as spain declares a National Emergency and more countries are joining in shutting down schools there implementing travel restrictions and taking other emergency measures in hopes to avoid becoming the next italy france is also taking some action french president manual mccrone took to twitter and announced President Trump and 7 other World Leaders are planning a Virtual Conference next week to discuss the covert 1000. 00 response nepals government announced its shutting down mt everest and its canceling all climbing permits through april 30th china had already canceled expeditions on the tibet side of that mountain meanwhile and greece the olympic torch always late in the limpia took place on thursday but the torch relay is temporarily suspended due to a large crowd that showed up but will still be delivered to tokyo organizers on the 19th of march president of the International Olympic committee thomas batch said athletes are still encouraged to continue preparations for the 2020 Tokyo Olympics while working with authorities to take the necessary measures to contain the coronavirus batteries so many measures are being taken. So many governments and also richies around the world to contain the virus and no 19 there we were before the games and. Also making good use for these time over these 19 weeks so were in sports we are fully committed to home are really encouraging the absolute to go ahead with their preparations with their qualifications for. To lose steam and then we will only come to 2 fools to grade the olympic games. And in what has been a crazy week for markets worldwide there are now renewed calls for Central Banks to intervene and to restore market this after president term statements on the status of the federal response to the krona virus was not enough to prevent the worst day on wall street since the 987 crash and of course he spoke again on friday and markets and the dow specifically here in the u. S. Actually spiked up to 2000 points of an increase just on the day so it has been a crazy week and did at this point the investors worldwide are calling on governments to intervene and help stop or at least slow the market crashes so what can Central Banks do to call markets joining us now to discuss this blue bus cohost and of course crypto currency analyst ben swan ben thank you so much for joining us today and you know when we talk about federal Bank Response as well i mean the bank of canada just friday afternoon as well cut rates to point 75 percent so there varies a lot of action going on and its moving so so fast as this number one economic crisis if thats what you want to call it is going on as well as the pandemic of the coronavirus so bent the fed announced trillions of dollars worth of new capital injections to calm Treasury Bill liquidity issues and boost Economic Activity amid coronavirus risks we know youre not a fan of Central Banks propping up markets kids being what we have seen over the last few days doesnt the fed have to do some more and what exactly are they doing right now to prop markets up yes so i dont think the fed is the answer certainly but you are correct that markets right now feel like they need to help in a lot of ways that what we saw on friday afternoon was very interesting you said here in the lead up up almost 2000 points for the dow d on friday d which is a huge job about 10 percent back up still no theyre raising you know all of the losses for the week but what is significant up. That were a couple of things the president came out and he said on top of trying to reassure the public that theyre working with google which thats a whole issue working with google to try to create a website where people can get on and monitor whats happening while working with leaders like the c. E. O. s of walmart and c. V. S. And walgreens and target to be able to establish places for people to go and be tested for drugs virus which has been a big issue he also talked about the Strategic Petroleum reserves and buying a large amount of oil now that indicates that oil prices will probably get some relief and that will be good for the oil market which has been really hurting he also talked about canceling interest on Student Loan Debt on all loans held by the federal government so itll be interesting to see how that affects markets as well but we did see kind of a big rally at the in the friday now coming back to the Federal Reserve next week were expecting to see the fed essentially take a look at whether or not theyre going to go ahead and drop Interest Rates to nearly 0 with appears that thats whats going to happen that were looking at a b. P. About a 100. 00 b. P. Drop so about base point drop of oil of 100. 00 which would really take us down to 0 thats probably where were going to be thats what Goldman Sachs is saying of bank of america theyre both calling for and both expecting thats a huge huge move right there by the feds if that and up happening but i do want to talk a little bit about the numbers like you said were seeing them skyrocket or at least double basically speech they went down toward the beginning then spiked about 2000 points toward the end of his speech hes still saying the market will be just fine at least as of yesterday when he spoke to reporters saying that were going to come out of this bigger and were still up ever sence from what when he started his as president ial after the elections now sure after he took office but i do want to ask you is the president just spinning and hoping that things work out fine or is this something thats actually going to happen. Well look i think the president 1st of all has to recognize that corona virus is not the cause of a lot of this there are supply concerns that we talk about on the show all the time there are issues with whats happening in terms of the market and liquidity and all that but the coronavirus is not causing markets to crash the over leveraging of markets the fact is the fed has been pumping up the markets for so long that is where you have this over leveraged bull market for 12 years that eventually it has to come to an end and so when the president says dont worry well be fine book number one were still up about 20 percent from where he took over but at the same time you have to recognize he cant go on indefinitely short term i think the president s in a good spot because i think ultimately hes right when you say things that wall street wants to hear when you say were working with the Business Community when you say that were going to start you know dropping Interest Rates even more and were going to start the governments going to start buying up in Certain Key Industries to help them out thats going to sin the numbers up no question about that but the long term problem remains which is that we have an over leverage market and we have a fed that in the next week within the next 7. 00 to 10. 00 days is going to pump you know trillions of dollars in the muck about 1. 00 trillion dollars being pumped in that our market right that is unsustainable exactly its unsustainable and bad i mean it just seems like when we talk about unsustainability of the market i mean you look at this week we have you know a 5 percent again a 10 percent decline a 5 percent to 7 percent gain of 15 percent decline and now today youre back up 12 percent i mean its just unsustainable completely is it not. Well it isnt sustainable and what were seeing to the fact that we have these highs and lows that are so dramatic and my suspicion is and i cant prove this but my suspicion is is that a lot of this is a game thats being played that that wall street is intentionally dropping these numbers because then they can force the feds to react they can force the fed itself to react as well as the feds to react and to give them what they want they want the row Interest Rates they was more liquidity they won government purchases of what theyre doing and so theyre actually i think that wall streets manipulating the market now and say hey were going to call your bluff if we drop by 10 percent youll bring us back up by 20 percent we can drop it lo ve can we buy it the next day and it just seems like like were living in upside down town right now with the way who that is being conducted it just seems completely nonsensical and it doesnt seem to be based in reality at all boom bust cohost ben swan we could go on for ever talking about all of the things that are happening right i thank you so much for your time. Another turbulent week for the Global Markets as the coronavirus continues to spread the indices remain volatile and theyre all lower for the week many stocks even now in bear markets lets start in moscow where the mo extend for the week after a sharp decline on monday following the oil spot with saudi arabia this was over Oil Production cuts the ruble and russian stock fell following President Trumps speech on once a night when he issued the travel ban on europe the r. T. S. Index fell below the landmark 1000 point level for the 1st time in more than 2 years asian indices were all slammed friday following the u. S. Market plunge and much like wall street every major Financial Market in asia except for china is now firmly in bear market territory in shanghai the composite is down for the week saw a sharp decline on friday alone it was able to pick up just a little bit not by much ending on a 4 percent decrease than in hong kong where the hong sang reached a bear market it plunged as much as 7. 4 percent at one point on friday morning right before coming back up to a loss of 4 percent on the week but the blue chip benchmark fell 20 percent from the recent high mark last april making it a bear market now in japan the nikkei also in a very market down for the week indices saw as much as 10 percent decline again on friday alone this was the largest intraday drop since april of 1990 when the market lost trillions by the end of that year and now over to the sensex in india where the stock index is down its all an extremely volatile volatile and on the week on friday when the nifty index was down 10 percent it prompted a 45 minute trading halt not only did we see that in the u. S. But also in india how did sharpest one day recovery though 6 the sense it did go up by over 5000 points and now over to australia where the. Also reached a bear market with a 13 percent decrease on the week on thursday it lost about 130000000000. 00 with an 8 percent fall on its worst day since october of 2008 that was after the collapse of the u. S. Investment bank Lehman Brothers and finally the shares and africa you guessed it also down for the week now over to brett for europe and the americas they use so much there its more of the same as the w. H. O. Now says europe is the epicenter of the coronavirus after things have calmed down in china in france the cac is down roughly 15 percent on the week as the government is now taking further precautions to limit the spread of the virus or oil and gas Company Total essay took one of the biggest hits down 33 percent as oil had just a terrible week as sarah just mentioned now in germany the decks so a 14 percent decline when you remember earlier this week chancellor Angela Merkel she said that 70 to 80 percent of the countrys population could be affected by the virus stock plummeted more than 28 percent on the week as markets lead in london the footsie its also down on the week down 17 percent again the oil sector feeling the pain in the footsie was across the atlantic and go to the best in brazil now had a rough week as well down nearly 20 percent on thursday alone having the worst day since 1998 but friday was positive with gains exceeding 8 percent Oil Giant Petrobras it is generally struggling down more than 50 percent were to go north to mexico b. M. V. 1st its down about 5 percent on the week so were going to move up to the u. S. Here where the 3 major indices including the New York Stock Exchange as well so thats for theyre all down and as sara was mentioning there we are in bear market territory the dow alone on thursday had its worst day since the crash of 1009 187. 00 and the circuit. On the s. And p. Was triggered i believe 2 times 2 times this week so looking at big players in tech you have Google Facebook apple and microsoft all taking 15 percent declines on the week in banking j. P. Morgan bank of america and wells fargo all falling by more than 20 percent nothing really positive to report out of american markets at all this week lets move up to the great white north in toronto the ts sex is down roughly 14 percent on the week Energy Transport company and bridge is down more than 30 percent as markets real throughout the world canada is hoping for a better news next week as the bank of canada on friday made an emergency rate cut 2. 75 percent as the news of all of it will be interesting to see what can be done to push markets up in the coming weeks and weeks and that is your weekly Global Market walk. Time now for a quick break but hang here because when we return i think global virus pandemic slams mark and. Tackling are also taking a major hit going to analyze the destruction and i dont manufacture a i just. Have an impact but a phrase here the numbers that. I. Budget we talk about trouble hes going to demystify to so political space if you werent clear before like these folks are no better deny us so you know i you know you can reach out to friends say you know take responsibility maybe run for office at the end of the day you know i dont. See how we have a lot of system where these people get away with you know mis representing us why not step up and do it yourself. Down at once i. Dont want my next night on the definitions and im back in the. South. And. Taking the equal to the south just suck it to me. And then youre going to bring me how is that guys. Moving in here right now this. Was never going to be the. Subs are. Going to do this just doing this one means i love just like you know better than him hes just done tokyo funded hes going to keep going. To. His work was because did repeated unsinkable cultural review for the grammys. A bipartisan push where lawmakers are now urging the trumpet ministration to roll back at least some of the existing tariffs on china some of them actually remain after the phase one trade deal and it was signed back in december there are still 25 percent duties and place on some 370000000000. 00 worth of chinese goods imported annually florida representative Stephanie Murphy pitched the idea to u. S. Treasury secretary robert. Light highs are in a private meeting this week saying its something the administration has the ability to do and would have an immediate Economic Impact and help stave off a global recession shes urging the trumpeter ministration to consider removing all tariffs on both chinese and even european goods in an effort to provide some Economic Relief now like hisor who has a lot of the trade deal negotiations with china was not receptive to the idea but earlier this week the u. S. Already removed some tariffs on a few goods that are imported from china this includes latex gloves face mask sanitizing wife and antimicrobial products that are used and medical exam rooms. And chinese automakers are asking for assistance as sales fell in the month of february by 79 percent due to the ongoing kroto virus pandemic now this marks the biggest ever monthly decline in auto sales in the Worlds Largest auto market the chinese or the China Association of automobile manufacturers says they would like to see cuts to the purchase tax on smaller vehicles measures to support sales in rural areas and easing on a Mission Requirements however a representative from the organization said they do not expect all measures to be taken into account now the sea am said it also expects sales will pick up in march as Officials Say the worst is over in the country but does not expect things to return to normal until the 3rd quarter of 2020 and for more on this and how the Auto Industry is fairing amid market turmoil due to the coronavirus we are joined by lauren fix the car coach lauren it is a pleasure to have you wish it was under better circumstances you k