Plus the titanic is making news once again an Expedition Team wants to retrieve the telegraph radio used right before the ship sank to the bottom of the ocean well tell you all about that right its time to boost your news i q. Fed chairman Jerome Powell is testifying before Congress Today on the health of the u. S. Economy in a current and post pandemic america hell be cruising in on the good morning news from the retail sales sector posting the best data they have seen in a while so for more analysis and discussion lets go to ben swan hes an investigative journalist and cohost of boom bust and host of news with Rick Sanchez Rick sanchez gentlemen good to see you both ben i want to go to you 1st have we finally turned a corner since the pair. And also whats driving the market. Well weve got some very good numbers as you said in terms of the numbers for may and retail kind of coming back about a 17 percent increase in retail sales that was not expected and it shows that obviously people are anxious to get out and to spend and get back to normal weve seen some reopening you mentioned before we went to the break though that we are seeing a resurgence of cases of coronavirus in certain states Alabama South carolina are 2 of those states thats not good news for the economy because the question becomes is there Consumer Confidence and is there also a confidence that states wont shut down and therefore cost businesses have to close their doors again and have to lay off workers again we saw about 12 to 20000000 workers now coming back into the workforce in the last month as well and thats also good news but the question really comes down to where do we go from here do we continue with the upward trajectory to have more of a v. Shaped recovery or do we have what looks like were going to recover and then we dip again because of a new set of shutdowns thats certainly possible rick you and i discussed yesterday how the u. S. Economy is in shambles but you know what this mornings retail Sales Numbers will that provide new wind beneath my comp sales wins as he goes in to meet with chinese officials in hawaii. No i dont think so i mean i dont think anybodys going to be fooled by the. U. S. Economy was some were. Well just look at unemployment numbers we were at somewhere around 4 percent. Because people were talking that it might go to 20 percent were supposed to be celebrating now because its somewhere between 13. 14 thats like saying when i took something away from you and then i gave it back to you would i be a great guy well no why do you take it away from me in the 1st place right so were still a bit of a quandary economically and i think makes a great point about the fact that we really dont know i mean seriously i mean we dont yet know how. This pandemic is going to play out in our country will we have a 2nd wave will we not have a 2nd wave will people be afraid of it will be bold not be afraid of it will the vaccine mean the end of it or as some people suggest is this thing going to continue for 2 or 3 years because theres even the possibility that it could mutate after the vaccine so theres just so many questions that have to be fed into this thing that its almost impossible to say oh sure once this happens everythings going to be ok and i think for the most part those questions lead to market volatility as well and now everybody is putting money into the market because i think theres a lot of money thats being put in helicopter money but thats going to run out of some point to all right so it sounds like from the both of you you think its too soon to throw a Welcome Back Party so. What is your own power predicting for a post pandemic kind of me and what tools does he have available to handicap americans afloat. Well essentially what the drone policy is that it all depends on Consumer Confidence and that consumers and businesses have to believe that government has control of the virus before things can get back to normal whatever normal becomes heres the problem is that right now the market and theres a big difference between whats happening in terms of unemployment and main street and businesses Small Business in this country and whats happening on wall street theres a big difference there wall street is being completely propped up by the fed right now the fed is as a whole series of tricks in order to kind of prop up markets and keep it going you know kristie i talked about this a lot the bad news is good news scenario that essentially plays out what the fed meaning every time theres bad news its ok its really good news because it just means that the feds going to come in and fix your money problems for you where theyre going to pump more liquidity and the real danger of whats happening right now is that we are becoming you know increasingly close to a point of crashing the dollar if we continue down roads of printing money to no end bailing out every business possible and. Spending to the rate that were spending or the troops asking for another trillion dollars in spending these numbers are phenomenal in terms of the effect of the damage they will ultimately do to the economy and no one in washington right now where even nuff to stand up to that. And where is the accountability i mean these are questions we as journalists we would be foolhardy not to ask the questions if you continue writing these checks and we have to ask at some point where in the hell are they going and who is checking to see that theyre going to the right people or d the right places so they can really improve our lot in life as americans because look President Trump whether you voted for him or you know you love him or you hate him he a Mother Teresa ok so the fact that the president is putting out all this money and we dont really know whos actually getting it is something that we should all be wondering about at the very least as ben says how many check out continue can you continue to write while rick i want to stick with you for this next one i mean mr powell has been warning that small and medium sized businesses are going to be hurt the most and possibly never really recover after this pandemic so you as an entrepreneur yourself what are you hoping to see the fed do to help folks like yourself out. You know ive always been a big believer in the bottom up you know youve got to put the money at the level especially in terms of main street. Not wall street but if you could somehow come up with Something Like what f. D. R. Did and create some foundation where people would feel better about themselves you know the expression you your parents probably told you this is some point you give a man a fish eats for a day teach a man to fish eats for a lifetime what this country needs more than anything right now to solve this coronavirus issue is Contact Tracing we just need we need to know whos in moon who. Whos had it who has it now who hasnt had it who might have it in the future and that means we need to hire about 50000 americans to go out there and execute this its the perfect scenario for the president of the United States this administration that acts to ever governors to literally employ americans give them a salary to do what is most needed right now d in america and it beats the hell out of just giving them a 1000. 00 a month or every 2 months job creation on that one and im going to be the last word on this final thoughts just real quick i disagree with the contact tree seen crazy about that idea because i think it creates too many other bureaucratic problems but i will say i think just testing in general why are we still not testing the population to see who actually is corona virus and i want to antibodies around thats a huge problem and lastly i just point this out because something rick said earlier which is absolutely true the trumpet ministration has been actively working according to inspectors general across the country to prevent inspectors general from being able to catalog and track where government money is going the fact of the trip with ministry is blocking that is a huge problem and that kind of a weird red flags are separated. By the way im. Sure that im one for 2 with and so on on that one. Are you guys i got to leave it right there we can keep going on always a good time very informative ben swan and rick sanchez thank you so much. Thanks alex. And over in france where rival apnic groups have squared off for a 4th straight night extra Police Forces have been deployed to the dijon region where violence has resulted in 10 injuries so far residents of this mostly chechen immigrant Community Say they feel abandoned by local authorities similar clashes also about that in the mediterranean city. And over to japan where dark smoke could be seen pouring out of a passenger cruise ship docked along the. City of yokohama firefighters were seen on the ships deck earlier today no passengers or crew were on board it is unclear right now whats causing that smoke on the asuka 2 cruise ship and investigation is underway. And back here stateside californias Largest Utility Company p. G. And e. Today pled guilty to 84 felony counts of Involuntary Manslaughter those charges stem from the 28000 wildfire that killed 84 people and nearly wiped out the entire town of paradise in Northern California p. G. And e. Has agreed to pay nearly 2000000000. 00 in fines. And 108 years after sinking to the bottom of the Atlantic Ocean the titanic is making headlines once again a salvage expedition to the wreck site is scheduled for this summer in hopes of retrieving an important piece of history but the mission is the opposed by the u. S. Government parties alex mileage has that story. A legend that was supposed to be unsinkable never made it past its Maiden Voyage in april 912 the titanic was traveling from southampton england to new york when it struck an iceberg killing roughly 1500 of the over 2200. 00 passengers and crew on board today the ship lies at the bottom of the atlantic about 400 miles off the coast of newfoundland canada the wreck is nearly 2. 5 miles deep and within it lies an important piece of history marconi wireless telegraph machine that is credited with saving hundreds of lives when tragedy struck now r. M. S. Titanic inc an atlanta based Salvage Company wants to extract and exhibit the machine that was used to broadcast the ships spinal distress calls while some see this as a noble venture the u. S. Government has a different point of view all the artifacts have been collected from the ship in the past the intrusive nature of the proposed mission is a big part of the reason the u. S. Government is saying no to this expedition to salvage the marconi telegraph it may be required to cut into the roof of the ship so that an unmanned submersible can enter the wreckage and extract the machine according to u. S. Attorneys that would equate to breaking the law they say the mission which is scheduled for august cannot go forward without the blessing of the secretary of commerce since recovering the telegraph would physically alter or disturb the rock in addition an agreement with the u. K. Regulates entry to prevent disturbances to the whole and other artifacts and human remains according to the governments filing the International Pact calls for the titanic to be recognized as a memorial to those men women and children who perished and whose remains should be given appropriate respect in may a u. S. District judge agreed with r m s t the Salvage Company that the marconi telegraph is historically important judge rebecca beach said that recovering the quitman would contribute to the legacy left by the in delhi. The loss of the titanic although the ship wreck is rapidly decaying currently much of the titanic is intact and its hard to overlook the possibility that any mission to the wreck might discover more than just the telegraph one argument from the u. S. Attorneys is that 20 years ago or a misty plan to access the cargo hold of the titanic in search of 1st class luggage meal and alleged diamond stash while the atlanta salvage firm says the vis mission is different some believe the company has a lot of money invested in the wreck and that it will try to turn a profit either way to get to the ship the salvage firm will have to navigate through the courts 1st for r t im alex my luggage. 100000. 00 jobs in the gas and oil sector here right here in the u. S. Are lost due to the pandemic were going to death got that with our next guest and then later at the sports h. Q. Virginia ham shares the incredible tale ive been durance from one german ultra marathoner and remember to keep up with all the latest new than anything you might have missed download the new app portable t. V. You can catch their 27 didnt catch me here. Wall street busy trading your money days a week and there are 4 corners. And 3 major stock market. And when you have to watch right or fail it all becomes clear theres just one business show you cant afford to miss. The one and only. Find it now on portable t. V. Oh yeah. Take a bite. I like it when the hosts ask a question for the guests and then actually listens to the guests answer and long to react to that answer a folks Dennis Miller here ive got a new show. You know it doesnt really matter where youve been but batters is where youre going right well see you Church Generations look back at the establishment media as the lead in the water pipes that drove the romans mad do you find yourself watching t. V. To turn your brain off to relax i want you to watch t. V. To turn your brain on im rick sanchez. Its time. To do news again. Retail came roaring back we learned this morning a welcome surprise to most keeping an eye on the markets but while retail is up the ongoing pandemic is leaving traders in limbo especially those eyeing energy in texas that state experiencing a resurgence of coronavirus cases after reopening just a few weeks ago now this as beijing has elevated their containment efforts shutting down schools and businesses after dozens of new kobe cases sparked fears of a 2nd wave there so joining us all the way from bangkok thailand mr stephen n. S. He is the chief Global Market strategist at acme trader and an expert in asian markets so stephen good morning to you 1st can i bring you back stateside what do all markets look like right now to you given that texas is seeing an uptick in code cases is that shaking energy. It really gets like i think the all markets extremely sensitive to any negative headlines and obviously a resurgence of covert brings back memories of that absolute demand devastation that we experienced back in march however really really what the case is now is the policy transformation and how it affects the markets thats the key here whether state or. Countrywide governments will start to reimpose a board draconian form of lockdown measures or whether theyre going to deal with these on a proximity basis as were seeing in beijing right now where there is just a small pocket that seems to be getting isolated so that suggests that the draconian state that we are in the 1st half of the year is it going to happen this year governments are going to try their best to keep the economy open but if we do get a secondary super spreader i dont see how thats possible well have to take. Extreme measures and of course this is the sum of all fears in the markets right now especially in the fragile state of the Energy Complex and now stephen we saw all retail come back with some good news today as fed chair Jerome Powell testified before congress but hes expected to deliver some grim news for the outlook of the rest of the year for the economy wouldnt you agree with that sentiment. You know i think its wise to err on the side of caution i think what were seeing on the retail number is that pent up demand hitting the markets and you know everybody is coming up with their government checks in hand right now and this is actually quite good it suggests on the one hand the fear of the secondary spread house that actually said in god so if people feel comfortable coming out of their house and spending money thats very key to this recovery because its going to be a consumer driven recovery over here were not seeing that same propensity if you look at china retail sales its been lagging suggesting that consumers arent convinced that the cold its possible this narrative in my view is going to be continue to be front and center for the next few weeks at least 3 to 6 weeks until we start to see the trend and covert 1000 case counts diminish again but getting back to the chair powell i think hes going to paint an equally dour picture here and this may weigh negatively andras sentiment but what seems to be a problem for a spark as these days every day we can in the markets are higher except for a few odd days here and there so im not sure if its going to be sufficient enough to negatively on sentiment Going Forward and now over to your side of the world you touched on it briefly beijing is starting local shutdowns again after some 50 people or so have tested positive for corona virus can you give us a breakdown how are the asian markets responding to these new cases. Of course is a little bit of concern you know i but weve got geo Political Service in the background also which is adding more negative negative. Due to the flows but generally the way mark is viewing things in nature all of the countries locally have taken extreme measures when it came to lock down they were very very proactive out of the gates to get proficient trees and track methodologies that theyre using the borders are locked down here so the only way you can get it in is is if it resurges again this is a one thing unfortunately the beijing situation is being blamed on imported salmon we have to see how that plays out and whether that is the truth behind behind the music here but we just dont know what this stage it will take a little while to figure it out but overall we think that the measures taken here in asia are sufficient enough and proactive enough that