Transcripts For RT Boom Bust 20240713

And this is to bust the one business show you cant afford to miss branch of war in washington coming up. The globe but some regions have been hit harder than others we have a live report on the spread of the pandemic and how different nations have taken different paths to tackle the virus plus as china begins its return to normalcy what impact will the recovery have on supply lines and the juggernauts economy we bring you expert analysis and later as amazon stock has shined amid the corona Virus Outbreak some of its employees are voicing concerns about their health and compensation package showed today so lets go and dive right in. In the world now has more than 800000 cases of the coronavirus and cost the lives of more than 40000 people here in the u. S. The death toll grew by more than 500 in a day for the 1st time since much on monday now during his Daily Briefing on the pandemic u. S. President donald trump talked about how important the next month will be to fight in the spread of the virus. This is our shared page you had a guilty challenging times are ahead for the next 30 days. And this is a very vital 30 days were sort of putting it all in the mind this 30 days so important because we have to get back. But the more we dedicate ourselves today the more quickly we will emerge on the other side of the crisis and as the u. S. President touted a newly authorized 15 minute test the nations leading Infectious Disease expert Dr Anthony Fauci said we will be in a better position to deal with the virus if it were to represent itself in the future if you come back in the fall it will be a totally different ballgame of what happened when we 1st got hit with it in the beginning of this year there will be several things that have be different our ability to go out and be able to test identify isolate and context trace will be orders of magnitude better than what it was just a couple of months ago in addition we have a number of Clinical Trials to look again a variety of therapeutic interventions we hope one of more of them will be available. As the u. S. Now has more cases than anywhere else we wanted to get a global perspective on how this is affecting the world and for that were joined by our t. Correspondent saya tablature who gives us this report. You know brand here in the u. S. So far 1000000 people have been tested for the groaner virus and all the further restrictions on movement are constantly being considered to help stop the spread of the virus the u. S. Is now reporting twice the number of cases as china the u. S. Has now more than 175000 confirmed cases the highest number in the world and more than 3400 deaths and the outbreak in new york still remains the largest in the nation with more than 1200 deaths now in china today that announced more than 1500 kroner virus cases that had not previously been made public and china so far has about 3300 vets and around the world more than 800000 people have been confirmed to have the virus and nearly 165000 have recovered and more than 40000 have so far died now lets take a look at year over several countries are continuing to see a rise in new infections and thats now in italy in spain where the countrys combined death toll is almost 20000. 00 and thats roughly house of the global total you know really demonstrate the price countries pay when a virus pretty much outstripped the capacity of their Health Care System now the worst hit country in europe so far italy has over 805000 cases and almost 12500 thats and just today the u. K. And spain reported their largest single day jump in death toll and spain has reported 849 new deaths from the corona virus the highest overnight jump since the start of the pandemic bringing the total number of deaths of the country to about 8200. 00 now the death toll in the u. K. Also job to 800. 00 thats more than 25000 people infected now in germany confirmed cases are around 68000. Only 682. 00 deaths were according to experts germanys death rate is much lower than any other country due to its widespread testing and while germany currently has the 5th most infections in the world it is actually fewer on reported cases among many other countries where testing is really hard to come by now workers in germany will also get some relief as a federal label an agency has an ounce of theyre going to pay employees at least 60 to 70 percent of their net salary while being quarantined at home now lets take a look at latin america where while some countries are taking extreme measures to control the spread of the virus others are just downright ignoring it now in argentina with and 966 cases and 26 deaths authorities are arresting anyone who while aids to mandatory quarantine meanwhile in brazil brazilian president wilson naro continues to defy calls from Health Officials looking to prevent gatherings now the brazilian president has even stressed a need to keep their economy running and has clashed with several say governors who have introduced quarantine measures and so far more than 4700 cases and 168 deaths have been confirmed in brazil now lets get a look at india a country with just one government doctor for every 28000 people just imagine that and Health Experts are currently monitoring india very closely the worlds 2nd most populated country after china which currently has over 1200 cases and 32 deaths you know but the m epidemics there could become far worse because much of their population live in tightly packed neighborhoods where its practically impossible to observe physical distance and finally lets go to iran the hardest hit country in the. Iran has almost 45000. 00 reported cases and more than 2800. 00 deaths and more than a year after france germany and britain said they were setting up a trade mechanism to work around u. S. Sanctions against iran today they sent a 1st shipment of medical supplies to iran and that trade mechanism you can call it known as n stacks will continue to deliver humanitarian goods which are not forbidding by u. S. Sanctions and justice masa the same 3 European Countries france germany and britain all signatories to the Iran Nuclear Deal offered iran an aid package valued about of 505500000. 00 to fight the country and their fight against corona virus and thank you so much sayah for that fascinating report and it should be noted that when we actually discuss president discuss aid President Trump mentioned russia would be sending a plane full of medical equipment to the us which was confirmed by a kremlin spokesperson on tuesday and as always remember you can get the latest news and information regarding the spread of the coronavirus on the portable t. V. Apps kuroda virus tracker. And u. S. Markets have been battered by the pandemic with major indices having their worst quarter in a decade and markets continued their downward trend on tuesday after substantial gains on monday even with positive manufacturing data coming out of china for the month of march now lets get some expert analysis autologous from john pauls dean of the Miami Herbert Business School and boom bust cohost christiane who joins us from los angeles while we recognize the social distancing protocols that everybody around is kristie can you tell us whats going on with the markets here. Well brant as we wrap up the 1st quarter of 2020 the dow is off by 22 percent the worst quarter since 1907 and likewise the s. And p. Is also off by 19 percent the worst quarter since 2008. 8 and despite the brief relief rally that we saw in recent days the volatility is not over and we expect to see a retest of previous lows in order to have confidence of where the floor actually is and this all comes as chinas p. M. I. For march came in at 52. 00 beating expectations of 45. 00 as a station strong recovery post virus the National Bureau of statistics announced that there was continued improvement in the prevention and control the outbreak in march and a significant acceleration in the resumption of work and while many are hoping for a v. Shaped recovery and are pointing to this data point as evidence that equities can bounce back hard analysts are warning that this p. M. I. Reading does not mean that chinas Economic Activities have returned to normal levels in february the economy was pretty much at a full stop so doesnt really take much to rise from such a low base theres still a significant drag on chinas economy as demand for goods and services is nonexistent in the consumer space other headwinds by china on its road to recovery include a potential 2nd wave of inventions slumping Global Demand and lower exports which will all result in millions of job losses in china as well given the long tail of the after effects of the chrono virus the march p. M. I. Is likely a one off game from a very very low comparison basis in february the World Bank Also warned that as chinas growth stalls out it could drive over 11000000 more people in east asia into poverty while most countries in the region rely heavily on trade tourism and commodities and they do not have the luxury of a massive stimulus as their economies contract any recovery is likely to be sluggish the world bank is now calling for stronger action to cushion the shock for the 171. 00 of all countries so taking its cues from china and the long road to recovery ahead President Trump has called 2 trillion dollars in additional Infrastructure Spending in the upcoming days for coronavirus stimulus in his latest tweet now while that figure is more so Wishful Thinking than reality sources report that the total package being consider now is in the range of 600000000000. 00. An additional 600000000000. 00 in stimulus and while this boost is very much needed there will be future consequences for this Unlimited Money printing currently other countries cannot get away with a 20 percent fiscal deficit paid for by the Central Banks only the us can given be doing this given the reserve function of the u. S. D. So this will all push out the ozzie dollar as a cad dollar the british pound and all the other currencies in play as were all the emerging Market Countries you just talked about well theyll just be pushed back deeper into the hole and they will never be able to dig themselves out of sending the economy further into poverty. Thank you so much christine i want to actually pose a question today in quotes here how is the coronavirus shaping global economies as we look at things moving forward it seems were reversing on the globalization trend that weve seen in the passage of this. No doubt that this is a bad advertisement for globalization 1st in the sense that this is a Global Health care pandemic that no one can escape and secondly that the into locking of economies. That has occurred over the last 20 years both in terms of investment and trade flows is now being challenged by the assertion of National Borders in the interests of protection of individual citizens its ironic actually that a Global Pandemic has actually caused the resurgency of national instincts. But thats equally ironic that when things are tough families friends want to get together and hug each other but this pandemic is such that social distancing is mandated and you cant even get close to your family and friends at a time of crisis and great need and now dean quality kristie talked about stimulus there and she also mentioned china with their manufacturing data well weve heard about whats happening here in the u. S. But what is china doing to stimulate their economy. Well china of course took some very strong and aggressive action to inject liquidity immediately into the markets they also adjusted downward the the. In other words the required to reserve ratio that is imposed on banks. That collectively has is going to account for maybe around about 100. 00 to 200000000000. 00 of liquidity being put into the economy in addition have been a range of fiscal stimulus initiatives around helping small and medium businesses to survive with adjustments in tax rates and so forth and finally a very strong commitment coming out of china to double down on investment in infrastructure particularly high Tech Infrastructure including 5 g. Networks now kristie ive got about 30 seconds left here but from all those points that didnt call just made are they whats pushing up that manufacturing data that i mean isnt great but its better than expected. And that certainly is helping a little bit but the total stimulus so far is in the range of about 3. 5 percent of chinas g. D. P. And that is actually very conservative in comparison to its peers in the u. S. And europe who are pumping about 130000000000. 00 and counting into stimulus so china has more of a soft will and see approach and right now its currently looking to be behind the curve boom bust cohost christine and dean john thank you so much for your time today. Thank you. Here we will be right back and as we go to break here are those numbers of. Well done Charles Dickens capture the moment. Being a condemnation of capitalism osama yes you know the ghost of christmas future was neoliberalism visiting upon the president to try to warn people what happens when you financial lies the Global Economy and you do 3 or 400 years with the consumption today christmas being a holiday of consumption losing its its significance as a spiritual soulful occasion and here we are you know weve all been very very naughty and weve all been sent to our room and were all sitting in our rooms now thinking about what we did this is a moment of self reflection for the Global Community to sit in your room and think about what you. Microgram arent slights and you know why. For example there are there slights against women or nonwhites so its always you know the idea is that statements that directed toward a Privileged Group are interpreted differently than a statement directed towards an oppressed group and so thats kind of the whole framework and its. But a call for a market thats used the result is of course focusing at least on certain kinds of minor slights and saying well rather than ignore them or them we need to call attention to them but its not so its a very political and. Then more can run a virus controversy for amazon as the company now admits that it did fire an employee who organized a strike demanding greater protections for employees amid the corona Virus Outbreak chris small say management assistant at the facility was fired on monday afternoon after the strike smalls had organized a walkout to call attention to the lack of protections for warehouse workers in a statement to Business Insider small said amazon would rather fire workers than face up to its total failure to do what it should to keep us our families and our communities safe i am outraged and disappointed but i am not shocked as usual amazon would rather sweep the problem under the rug than act to keep workers and working for communities safe organizers say that at least 50 people join the walkout amazon says the number is actually fewer more like 15 joining us now is cohost of ben swan and investigative journalists as well ben thanks for joining me and i appreciate you being there ready to go when we had a little bit technical issues there amazon has its own side to this story why are they saying smalls was fired. Sure that their reason is going to get him off the hook but they said that the reason why the fire chris. Was vaal. In a base is the. Distancing guidelines that have been given to stay 6 feet away from people i suppose what amazon is trying to say that in this case by organizing a walkout he was physically closer to people than he should have been so thats essentially the claim that theyre making saying that they gave him multiple warnings not to violate these guidelines and they say that its their best workers we can get that and that and Chris Smalling was caused that to be violated so that and the city led that walk and now new York State Attorney general it issued james called amazones firing of small disgraceful and said the office of the attorney general is considering all Legal Options as well as calling on the National Labor Relations Board to investigate the incident what kind of issues could amazon face over all of this. Well essentially i mean look depending on where this happens and obviously new york is a very Union Friendly state not saying that necessarily these these workers are unionized but even so there are certain laws that protect workers and one of the laws that protect workers is essentially to prevent you from being fired if you go on strike if you are striking for the right reasons now keep in mind if you are striking for any reason at all and you say im as im going on strike lets do a strike you can be fired for that but if there are certain things like for instance if you believe that your employer or come the company that you work for is putting you in danger in harms way you have the right to strike and to walk out that is what essentially this guy is saying chris moyles is saying is that amazon is putting workers in harms way because theyre not being forthcoming about infection theyre not being forthcoming about which workers have contract to covert 19 and they are not keeping their workers safe and that is what he was saying when he led this walkout so the idea that amazon says oh yeah it has nothing to do with that i think most of us are smart enough to recognize that the real reason they got rid of him was he was causing problems for them and its just another black eye for amazon at the moment brant i would remind you that amazon is trying very hard right now to remake its image in the midst of the coronavirus theres been a lot of talk about amazon being too big not. And this is a moment when its on could actually look our site is a benefit but weve been doing a been if it to the country and theyve been bungling it so our. Bet amazon has called the workers accusations completely unfounded and said that it has taken extreme measures to make sure employees are safe while on the job which has been an issue they face well before the coronavirus what do we know about steps that amazon either has or has not taken. Well look what we know this we know that in at least 10 amazon warehouses there have been people who were. In those warehouses who have contract id the coronavirus 1000. 00 we know amazon in most cases according to worse has not notified warehouse employees instead says in between shifts theyre going in and theyre cleaning the warehouse areas that there was you know. 6 feet apart and that keeps everyone safe but we weve even. Asked. A couple workers from wells where say that they are looking earning actions on their social media from faith or from local news or not from Amazon Management and as i said last week and i would reiterate it today it shows a lack of respect on the part of amazon to not be forthcoming with workers to not tell them whats going on in the midst of this crisis right now amazon is actually trying to hire 100000 new workers to come in and work inside of its warehouses because as i said this is a moment that requires a huge response and amazon you would think would be the company that could provide the response necessary for getting people goods and so far they have not treated their workers correctly they seem to bungle the relationships along the way and simultaneously they are not really you know forthcoming with those employees treating them instead like cogs instead of like people its fascinating it is something that were going to keep an eye on as you see more and more people during these lockdowns are going to need Services Like amazon like instict are and i was in those other companies and the fact is they have to protect their workers and treat them right for sure but us cohost an investigative journalist ben swan thank you for joining us. And as the krona virus pandemic continues to decimate the travel and leisure sector air b. N. B. Is offering some relief for their users know the u. S. Based Home Rental Company is allocating 250000000. 00 to mitigate losses by host whose guests have canceled bookings due to the pandemic their funds will be used to pay host 25 percent of their typical cancellation fees the 8. 00. Is being offered in every one of air b. N. B. 191. 00 countries with the exception of china now the Company Previously announced guests would receive a full refund for cancellations of reservations that between the 14th of march and the 14th of april according to a letter from the c. E. O. Brian chesky payments will start going out to hosts in april. And finally as the world continues to deal with this crisis people throughout the world have come together unfortunately there are still some bad actors out there in the early hours on monday a painting by Vincent Van Gogh was stolen from the singer lauren museum located east of amsterdam which is temporarily closed due to social distancing measures to prevent the spread of the corona virus now the painting the parsonage garden at new n n spring was stolen around 3 am local time as the thieves smashed a glass door at the museum the museums director rightfully expressed he was angry shocked and sad at the theft now the piece was on loan from a museum in the northern persian of the country and at this time its really hard to say how much this piece is worth van goghs are rarely ever sold and when they are they often fetch millions at auction should also be noted that that happened on van goghs birthday. Thats it for this time you can catch boom bust on demand on the brand new portable t. V. App available on smartphones through google play and the Apple App Store by searching portable t. V. Or stream us to your t. V. By downloading the board will t. V. App on apple t. V. And online at portable dot t. V. You can also find our coronavirus tracker on the portable t. V. s where you can get the latest news and information about the spread of the virus as always check us out on you tube dot com slash bill must see an extra. All the alternative all. Because i say the stage show. Was called grill choices binary choice and only choice is it. And most finery thing is not a chance for the states to the school to provide a new architecture revive the cold ted and start negotiations with. Their own invited to negotiate them by to to see whats being put on the table. I can show you my face but im going to teach you must store in 9093 this man was sentenced to death. They could charge county its capital murder even though he didnt have the gun didnt pull the trigger didnt intend to kill anybody imagine living in your bathroom for the week with the scent of a 23. 00. I doubt that had to be. Confined within 4 green walls. To help him to leave. Dennis ross. Its a let me. Ask i would and will. Take i could. Not trouble getting loans to show money. Can you love lose you know nothing. How do you make it a secret if dont want to talk. To what you have who is the kook on the standards in the uk not as you hijacked angst bush. In the world of the focus. On you and those 2 morons who move them along much of this news tonight in one thing for not. So when you hired them and only tried to use in did. Learn in the. 9 months to no one on the media house on the net. Your government and our government and all the other major governments of the world know whats going to them when its go. But they havent told you and they havent told me they havent and theyll still. Imagine something as big as the earth is going to cause tidal waves earthquakes volcanoes are going to wrapped and its going to help. So were in for a while right. My great grandfathers. Nobody would care about. The law or prison so you have wallace the shoot of. A terrible life between the and the. When else seemed wrong. But i. Just dont. Get to see out the attic. And it gains from it equals betrayal. When something find themselves worlds apart we choose to look for common ground. Live from the World Headquarters of our t. America in our Nations Capital this is the news with rick sanchez. And over again everybody im rick sanchez it is tuesday here in washington d. C. And we want to welcome those of you watching us from warsaw to wellington and around the world whether youre tuning in by satellite on t. V. Or on portable t. V. The we thank you for joining our global conversation today we learned the United States has surpassed china in the number of deaths from the coronavirus pandemic and on this very day interestingly enough perhaps by no coincidence the United States and russia United States and