The corona virus pandemic which has caused a lockdown and mere halt of business worldwide is going to have a lasting effect on the Global Economy but just how bad will it get the International Monetary fund on tuesday joins those who say it could create the worst financial crisis since the Great Depression. We are projecting Global Growth in 2022 full on to minus. 3 percent now this is a downgrade of 6. 3 Percentage Points from general 2020 Major Division over a very short period of time. This makes the Great Lockdown the worst recession since the Great Depression and far worse than the Global Financial crises the i. M. F. Chief economist said there will be a partial recovery in 2021 adding the overall g. D. P. Will remain below previous levels the comments come weeks after u. N. Secretary general antonio terras made similar comments saying the pandemic will bring a recession that has no parallel in recent years and that it is the worst crisis since the 2nd world war meanwhile the w t o said last week global trade will fall by between 13 and 32 percent this year alone theres a lot of great doubt here so lets go ahead and bring in some expert analysis from cohost ben swann and christiane i guys thank you so much for joining us christy this contraction of Economic Growth is it simply because of supply chain slowdowns or are there entire industries that will collapse as a result of the economic shutdown. Well run as kind of both you have this slowdown stemming from the shutdowns and businesses which creates massive layoffs and unemployment which then snowballed into lower income decrease Discretionary Spending which then repeats and feedbacks into the chain in a form of slowing demand so its a vicious cycle thats very hard to control once again momentum the other part of that is that you have entire industries that are on the brink of collapse and theyve been levered to help bring on cheap corporate debt now of course were talking about the oil and Energy Sector hit one of the icons of america well we can also be talking about that big economy the gig and share to cop a sickly have your assets that valuation upwards of several billions of dollars but 0 assets so that economy has a collapse and the fact is it has no assets to back it up or doesnt own its cars being b. Doesnt own any of its real estate making it all the more painful and then finally lets not forget about trade International Trade accounts for a significant portion of the economy but now the pen demick borders are sealed essential Industries Like mass make and ventilators are all hoarded not shared. And its every country for itself and i mean back up and trade is expected to fall anywhere between 30 and 32 percent in 2020 and better want to bring you into this conversation what does this mean for workers for instance here in the u. S. We are seeing the there will be good were not 100 percent sure that people will actually get these jobs back after the stay at home orders are lifted because you know if were talking about an economic downturn a recession and something that rivals the Great Depression that means that these jobs will be lost for a long time before things start to rebound. Well its very possible they will be by the way i thought that was such great analysis from christie talking about you know air b. N. B. And some of those Massive Companies that really dont own anything so who does own the real estate who does own the vehicles that you know the people traveling for over well its the individual workers and then in many cases those are individual contractors the problem is right now to your point. The governments not bailing out contractors or Small Business owners this s. B. A. Rollout has been an absolute joke so far in terms the way its been handled and one of the problems is you have a lot of Small Business owners who are being crushed by it because theyre not getting any help but the majority of people in this country who are employed are employed by Small Businesses so its not just the workers that are hurt but if those Small Businesses cannot come back if those Small Businesses cannot reopen when the time comes because they didnt get help that they were promised and yet they were being forced to shut down and thats important for people to remember none of these shutdowns are because people asked for them or indicated they needed them theyre being mandated and forced upon them and then Small Businesses cant make money so yeah youre right a lot of these jobs for workers they may not come back because those businesses might collapse and now kristie there are some big concerns about what this virus means for poor countries around the world now the g. 7 has actually announced that it could suspend debt payments for poor countries affected by the virus. What does it mean for these economies that are a little smaller. So they missed part in developing nations they have previously taken on a lot of day very low Interest Rates and are to borrow so now they need to make payments and thats choking the funding for their other efforts to control the pen next and raytheon share conny so right now these relief measures will allow them to channel more of their scarce Financial Resources toward medical and other relief measures but while these temporary relief measures help i believe that have about 6 months its certainly not enough as these developing countries are at most risk for the pandemic spread as well as for Food Shortages coming up in the future. Ben it seems like a lifetime ago but just a few weeks ago as the pandemic was getting underway we did a 2nd here on boom bust with you explaining pandemic that they could be released for the 1st time ever can you give us an explanation of one of what pandemic bugs are just to refresh the viewers as to what that is yes who appeared to be bob very briefly these bonds were essentially created in 2014 remember that we had that big scare of ebola around the world and here in the United States well after the bolus scare took place. The i. M. F. Essentially created these things called pandemic bonds which essentially would help small and poor countries deal with a large pandemic and so about 190. 00 that magick is just the number 190000000. 00 was promised in financing for poor countries if they receive those pandemic bombs in the event there was a Global Pandemic which of course we have now and of course but it turns out that. In the midst of this actual Global Pandemic those bonds are helping the countries that had been promised to help so who is actually benefiting from this well and unfortunately that is the reality of this is that wall street is actually a big surprise here right wall street is benefiting from it wall street has done very well with these pandemic bonds unfortunately but the countries that need them cant even get them according to the w. H. O. Theres a whole series of rules about how this works it has to be 12 weeks after a pandemic. Because declare that a country can even receive it you have to have over 250 deaths in that country and the way that this is been set up right now essentially a lot of these poor nations will not actually be able to receive money from the pandemic bonds even though the w. H. O. Declared a worldwide Global Pandemic so the bonds are not going to pay out to a lot of the countries that actually need them and in the meantime we are seeing again investors having made a bunch of money by buying into these bonds and theyll continue to do so but theyre not actually being used the way theyre supposed to be a big surprise here you know kristie you have the background in wall street that we know you come from here he was playing number one how wall street is making money off these pandemic bonds when theyre supposed to use to be helping poor nations. So the way that it was cheap use it and then we can know of no surprise here these are if we had as a short sort of insurance hedge so basically when a pandemic hits the response will pay out but in return because wall street is fronting all of the funding for these theyre getting about between 10 to 11 percent return year over year so all the past decade that we havent had really a pandemic as they guess thats why they think cashing in on between 10 and 11 percent return and as ben mentioned theres certain criteria that have been mentioned and you try to use a really an weasel now that we look back into how coronavirus rolled out you have to wait between 10 to 12 weeks for the coronavirus to actually hit and by then were already in the mess and its almost too late to really make a dent with these funds and then also mention a lot of these countries are eligible simply because theyre not poor enough or they havent had enough cases but on the other hand of a lot of the countries that need financing the most countries like china italy spain korea the ones that have the most most episodes of coronavirus theyre an eligible because theyre not poor enough apparently well and its interesting too because when you look at it just because youre not overly affected by the krona virus you dont have that many cases does it mean that your Financial System is not being heard as weve seen travel has gone to a standstill so people are coming in and out and even when youre not hit hard a lot of people are still doing the locked. To prevent the spread just in case so its very interesting well keep an eye on the story you must go spence one christiane thank you so much for your time on that. Thank you. As the number of cases of crowbars nears 2000000 worldwide lets take another global look at the spread of the krone virus with our key correspondent saya tavenner so where we have today brand in europe a few countries are organizing some sort of slow activity back in that qana me in spain some construction work has resumed and a few factories are also reopening later this week and in austria and italy followed with the gradual easing of restrictions that followed some small shops open and then we have denmark that has even allowed small children to return to schools and nurseries later this week and here in the u. S. For cases are still on the rise and account for most of the confirmed cases and thats governors on both coasts are considering measures to begin to restart the economy even though President Trump has made it clear that only he the president and will decide when he would be safe to ease those restrictions but new York Governor Andrew Cuomo has said. That United States doesnt have a king we have a president so well be seeing as soon what those restrictions are that are going to be lifted and who will make those decision but in brand i also want to mention that the odd bracket outbreak in some countries are still far from their peaks a great example of that is india who has jest extended a nationwide lockdown for 3 more weeks leaving 1000000000 people on their servier restrictions and youll see that india has almost 11 more than 11000 confirmed cases and a little over 390 deaths but experts say. India has not conducted enough has and that the true number of factions are actually much higher last i want to mention that millions of indias poor population have been left almost completely without support as jobs have pretty much advantage and incomes gone brown so i want to go back to something we actually spoke. Theres been talks of businesses using a 5 year pyramid which is a hierarchy which is a system that china has used previously he talks about that yes exactly so businesses have long relied on a 5 tier pyramid called the hierarchy of controls to reduce workplace restore employees and this will be the basis for Companies Planning to get back to work which china has already like you said implemented so the most affected is the elimination and it goes from most effective to elise effect of the elimination is removing the hazaras so obviously you can do that on top of axion as found then the 2nd most effective is the substitution now this works for an example in a company where you can eliminate substitute one toxic for another you cant obviously swap out this virus for another the 3rd most effective is the engineering controls and generic control is when you isolate people from the hazard keeping them out whole and thats what theyre doing right now globally right then there is a administrative controls thats when you change the way people work like for example in our line of work a lot of reporters are working from home but that doesnt obviously apply to every industry so you can do that right now then there is that p. P. P. Which china has implemented and that p. P. P. Stands for protect the worker with personal protective equipment so i think of it this should be eating feast mags and telling their employees constantly to wash hands and thats exactly what china is doing so governments and companies are facing a very difficult choice in the coming weeks they can either reopen businesses with expensive hygiene controls or were trying to work with fewer controls and accept the risk of a 2nd wave of infections or to respond at sites average or thank you so much for your help. And as a reminder you can always find the latest news and information regarding the crow virus on portable t. V. Tracker time now for a quick pause but hang tight markets are surging but they are not necessarily reflective of the state of unemployment and stock. Well break it down with some expert analysis straight ahead and as we go to break here the numbers at the close. Join me every thursday on the all excitement show and ill be speaking to get out of the world of politics or business im show business ill see you then. Thinking of getting your music on the ones we got in our shows no problem was he didnt know what to do he was trapped in this tiny little wired how much we dont need a crate with him he will just stir freaking out and she wont let us bring him anywhere near. The leading dogs or caged in the into lane conditions on poppy farmers i mean 67 years you know theyve been locked up in cages outside you see no protection from the weather the heat you know the cold air the rain the snow the funder nothing they have no protection. Because you. Know its ok. Across the u. S. Cruel puppy mills are supported by dog shows and pet stores most of the puppies that are coming from these large Scale Factory farming kind of operations are being sold in stores even joined a good businesses are involved like agoa mom santa there has been a shocking amount of the organizing opposition to adverts to increase the standards of care for dogs bred in commercial rating for so many most of that opposition is coming from huge agricultural groups and industries that have nothing to do with jobs dont buy dogs on o. T. The world is driven by shaped by one person or those with. No dares thinks. We dare to ask. Has changed lives and pharmaceutical companies have a miraculous solution. Based drugs to people who are chronic pain patients and believe that their prescription is working for them in the remedy he said to. Price at the. Dependency and addiction to opiates to long term use that really isnt scientifically just. Now study actually suggest that. The long term effects may not just be absence of benefit but actually that they may be causing long term. And welcome back markets here in the u. S. Are in the green tuesday continuing the mostly upward trend we have seen over the last week so i dont wanna waste a time here and lets get right to the details of markets with shawn hyman editor of the logical investor and boom bust cohost christy i would welcome her back now christy you called me bad luck bright yesterday but tell us whats going on in the markets today i go there up. Yes equities open up sharply on tuesday as investors were more optimistic about the coronavirus outlook with major indexes up over 3 percent johnson and johnson was the best performing name in the dow as a lead rallies in Consumer Discretionary is and consumer staple names and for the 1st time since march the nasdaq has scrambled back above key Technical Levels above its 50 and 200 Day Moving Average is now corporate earnings kicked off on tuesday giving us a 1st look at how devastating the recent shutdowns have been for corporations j. P. Morgan reported that it missed expectations with earnings plunging e. P. A. s at 0. 78 down 71 percent from the 2 dollars and 65 cents reported q one of last year profits dropped to 69 percent year over year which is the biggest annual drop since the financial crisis as the bank recorded a surge in credit losses to 8300000000 dollars as a braced for surge and defaults j. P. Morgan also announced that it has added 6800000000. 00 in reserves this quarter as c. E. O. Jamie dimon emphasized the need to remain well capitalized and highly liquid given the strong likelihood of a severe recession now much of the optimism stems from improving conditions as 10 states have reported that theyre making coordinated efforts to reopen businesses shut down by the crowd of virus now these include washington oregon and california led by california governor Gavin Newsome and new York New Jersey connecticut delaware pennsylvania rhode island and massachusetts led by new York Governor Andrew Cuomo now collectively these 10 states generate almost 40 percent of the total u. S. Economic output so as these plans are still in early stages companies are still bracing for at least months of limited revenues many are scrambling to raise debt in order to ensure continue